Three crisis scenarios faced by small- and medium-sized companies, and how AI helped solve them.
June 06, 2024
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Typically, small to medium enterprises (SMEs) don’t have the resources to hunker down at an annual strategy retreat or to stop everything they’re doing to respond to unexpected emergencies or events that threaten the bottom line. This puts them at a disadvantage compared to their larger competitors. This article shows how AI is proving to be a transformative force for small and medium enterprises. The authors describe three crisis scenarios in which AI-driven brainstorming and scenario generation enabled SMEs to break free from their built-in limitations to produce innovative strategies.
Typically, small- to medium-sized enterprises (SMEs) don’t have the resources to hunker down at an annual strategy retreat or to stop everything they’re doing to respond to unexpected events that threaten the bottom line. This puts them at a disadvantage compared to their larger competitors.
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Graham Kenny is the CEO of Strategic Factors and author of Strategy Discovery. He is a recognized expert in strategy and performance measurement who helps managers, executives, and boards create successful organizations in the private, public, and not-for-profit sectors. He has been a professor of management in universities in the U.S. and Canada.
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Marek Kowalkiewicz is a Professor and Chair in Digital Economy at QUT Business School in Brisbane, Australia.
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Kim Oosthuizen is the Head of Artificial Intelligence Australia and New Zealand at SAP, based in Sydney, Australia.
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