In this episode, we delve into the rapidly changing world of technology and its impact on businesses, particularly in the context of AI-driven tools through the lens of the 2014 book "Exponential Organizations" and its relevance to small businesses today, as well as how AI is helping to improve processes and reduce costs. We also explore the opportunities and challenges that come with adopting exponential thinking, as well as the importance of personalizing customer experiences and leveraging AI solutions for various tasks. So, join us as we navigate this exciting new landscape and uncover the many possibilities it holds for businesses of all sizes! Download Transcripts: ๐ฌ๐ง | ๐ซ๐ท | ๐ช๐ธ | ๐ต๐น SUMMARY 0:01:06 - Change in Exponential Model 0:06:51 - Blue Sky Thinking 0:10:40 - The Impact of AI and Crowdsourcing 0:13:57 - Optimizing Processes With Cognifier 0:18:10 - Increasing Efficiency Through Autonomy 0:21:27 - Crowdsourcing vs Navigation Systems 0:28:13 - Exploring the Possibilities for Change KEY POINTS table.bordered { border-collapse: collapse; border: 1px solid; border-color: black; } td.bordered { border: 1px solid; border-color: black; } Topic. Application/Reference Description Exponential Technologies The Exponential Age A book that discusses the rapid advancements in various technologies and their implications. Artificial Intelligence AI in accounting The use of AI to automate tasks such as data entry, reconciliation, and report generation. Business Process Automation Zapier A tool that connects and automates tasks between different web applications. Robotics McDonald's staff-less restaurant A reference to a McDonald's restaurant that uses automation, reducing the need for human staff. Creativity and Innovation Intellectual space The concept of expanding one's range of ideas to foster creativity and innovation. Future-proofing businesses Staying ahead of the curve The importance of adopting new technologies to remain competitive and avoid becoming obsolete. Natural Language Processing (NLP) AI for content generation, chatbots Examples of NLP applications in businesses to automate content creation and customer support. LINKS Get the book: Exponential Organizations More of ExO: OpenExO Making Intelligence Accessible | 90-Minute Books | YourPodcast.team Aalok Y ShuklaAbout Aalok Stuart BellAbout Stuart TRANSCRIPT Aalok: Hey, Stuart, how are you? Stuart: Aalok, how's it going buddy? Aalok: Very good 24th of April, another week is gone. Stuart: It goes fast. Blink and you might miss it. Aalok: Absolutely. So let's talk about where things are now. I think there's like, a good quote we can start with I think Mark Zuckerberg has been laying off even more staff. And because he they're going through the year of efficiency at Meta, or Facebook. And I think one key phrase he said is, we're in a different world now. Right. And I think that's, I think that's a point to just reflect on. Because all of us if we're in business, we started our businesses five years ago, seven years ago, even two years ago, and the world was a very different place, based on COVID, or cost structure or staff. And now in this AI first world, or this cognitive first landscape, things have changed. And this just one bit, I want to touch a bit on that we can kind of go into a bit more detail, as we always do, talking about a book, which can actually help give some answers on this as well. Right. So on the Olin podcast, literally just from last week, and Chamath, and they were looking at funds, and he was basically saying to himself, like, I don't know, if I want to raise a fund now. Because before I would have raised a billion or whatever like this, but maybe I need to have a 50 million fund or a smaller, and I need to write lots of 100,000 checks or 5000 checks or something because the cost structure needed to do a new business, a technology business startup has changed. You don't need 10 engineers, 20 engineers, if engineers can use tools like auto GBT chat, GBT, copilot other things like this, even Amazon have come out with their own code version of it. So you don't need as much staff as much cost. So maybe you know that there's a lot more innovation that can take place. So I think, this phrase of this different world that we're in now, and even companies that are looking to start now, because I think they were also talking about these companies, which are at Series C, which is basically when they've done two rounds of funding beforehand. Normally, some big investor put some loads of money. And they were saying the Series C investment has actually dropped. Because no one wants to be putting in those big amounts of checks for legacy cost structure businesses, like if you're creating a business, they basically called you a zombie corn, because like, you're not going to go anywhere, right, like, and so I think that that becomes quite interesting, because it's all about now having a much lighter, leaner, more exponential organization, what are your thoughts on that? Stuart: The speed of change, and the ability, so even had a personal experience that is even in the last week. So we manage a pretty, not massive, but it's a number of podcasts for different people as part of the your podcast team brand. That organization was set up mid COVID, a couple of years ago, or early COVID, I guess, a couple of years ago. And we had some exponential opportunities using some of the technology at the time. And since then, we've lost some and brought some on. But we're pretty much using the same setup our show last week, because it's kind of mean you do it. We did it pretty quickly. So I just set up first one I've set up for a couple of years, because usually, I've got the team doing it. Exactly, yeah, you kind of put something in place, you kind of build that mechanism, and then hand it off and move on to the next thing. So it's a little enlightening going back in and now, I mean, probably it's only 18 months, but 18 months later looking at some of the tools, which almost look like legacy tools. They were cutting edge a couple of years ago. And some of the things that we were using for the show notes and the setup that we've done for this one, would you've only been around for a couple of months now. I mean, that speed of change, and having that different mindset. So again, we're not a VC funded size for for that project. But I can completely understand why people will be looking at investments and saying this company was a fantastic idea 18 months ago, but now, do I want to put another massive money into it? Not in this world, right. So that speed of change, and the what exponential means like, so we're gonna look at exponential organizations, the book as a lens to kind of judge it. But that was 2014 That book was written. So I think as we get into a little bit, it'll be really interesting to see just how quickly that has changed. So that means the mentality of us as business owners. That is the thing that needs to fundamentally change. And it's very dangerous now to sit back on something that's worked even in the in the realm. Aalok: I mean, like in that bin or in podcasts, they were they were also talking about like, one guy that they said he was quite cutting edge in AI, he literally had spent six weeks training a model and he let go of like, you know, maybe like a, you know, I can't remember exact percentage, but it was a significant centage of staff, right, like, so it's not about letting go of people, right. But it just being clear, but the point is, if tasks can be done more efficiently through technology, and don't have variance or quality issues, then your your team can be reallocated to other things. But it's become quite clear that like many tech companies, and many employees we're not doing so much isn't, you know, so I think I think this having this kind of like, zero mindset of, if I were starting again, would I do what I would I would I do everything that way, I'm doing it now. And I think having that kind of like almost beginner's mindset of like, every 12 months, rethinking everything in your organization, because literally, the tools and the possibilities are upgrading week by week, and it's not question of like, just get confused. Just make a cost saving. And then, you know, Theory of Constraints go to the next constraint basically, isn't it? Right? Like, I think, I think that's the framework. So exponential organizations is quite an amazing book, really, that came out in 2014. And that was the whole that was about, like, the Uber ification of everything, and like how to build these kind of like faster businesses, which are like they say, like, why new organizations are 10 times better, faster and cheaper than yours, and what to do about it? And I mean, let's start there, right? Like, how does that relate to like, small business? Because we have with us in like, 19 90%, the business of the world, like small businesses, basically. Right? So I think is completely irrelevant. But like, I'm interested in your viewpoint. Stuart: Yeah, me too. And I think I perhaps think it's maybe more relevant now to us as a frame to judge where we are against then it was when I first read it in I was looking on, on Amazon, and it popped up and reminded me, I bought it in, I think it was February 2015. So I mean, eight years ago, now, it was crazy. But I remember at the time reading it and thinking, this i
