Generative AI Can Help Grow Your Business

Generative AI technologies like Chat GPT can change knowledge work and improve business functioning, allowing us to grow the business, innovate and create wealth. FamilyBusiness.org Senior Editor and EIX contributor Mat Hughes spoke with leading AI researcher and innovation expert Paavo Ritala about the reasons to be excited about generative AI right now; how AI is generating real value for businesses; ways to use generative AI like ChatGPT effectively in business; and the steps owners, managers, and entrepreneurs can take to create value for their business using AI.
Paavo Ritala is Professor of Strategy and Innovation at the Business School at LUT University, Finland. He researches innovation ecosystems and platforms; the role of data and digital technologies in organizations; and the circular and regenerative economy. Recently he has worked with businesses to understand how new generative AI technologies can be used to improve knowledge work, innovation, and firm performance. Ritala is also Co-Editor-in-Chief of the renowned innovation journal R&D Management.