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1. Use AI to Enhance Existing Products: For example, implement AI to analyze and improve existing products. A tech company could use AI to optimize software features based on user data, creating updates that enhance user experience and maintain competitiveness without starting from scratch.
2. Leverage AI for Complex Problem Solving: For example, utilize AI for handling complex combinations and data. A tire manufacturer might employ AI to test and predict the best material combinations for new tires, saving time and resources while innovating efficiently.
By Lynn Wu | JUL 25, 2024
Read the original article at HBR
Yahoo Finance – Stephen MacMillan, CEO of Hologic and chairman of Illumina, shared his strategy for successful leadership in the face of activist investors like Carl Icahn. Having weathered challenges and boardroom confrontations, his philosophy involves listening rather than preparing defensive legal strategies. MacMillan’s efforts to revamp Hologic’s culture and improve financial performance resulted in substantial growth, vindicating his approach when Icahn departed with notable profit. Similarly, MacMillan’s influence at Illumina saw decisive actions like the divestiture of Grail to alleviate stock pressures. Throughout, MacMillan emphasizes the importance of dialogue, effective board role assignment, and understanding the underlying reasons for activism. His advice to Disney CEO Bob Iger, embroiled in his own battle with Nelson Peltz, underscores the urgency of succession planning, a critical aspect he believes the Disney board overlooked.