Mayur Palta is an AI & Data Solution Architect at Databricks. He joined Adam to talk about his new book Outcompete: How startups and billion-dollar companies outsmart the competition. All proceeds from the book will go to empowering underprivileged children through quality education via Vibha. You can learn more about Vibha here and pick up a copy of Mayur’s book here. These are three takeaways from their chat.
Products and startups that used to require months of time and effort now take weeks, even days.
Mayur says all compete professionals need to be leveraging AI to unlock productivity gains to keep up with the rapid pace of change. Lest your competitors do it first.
AI will help you move faster. And good data and competitive intelligence metrics will unlock better decision making.
Both are crucial to your success today and into the future.
Download our ultimate 9 step guide to launching your competitive enablement program to learn more about measuring the success of your compete program
For all the untapped potential of AI, in its current state there is one massive problem for compete professionals.
AI and LLMs hallucinate inaccurate information. ChatGPT literally states that it may produce inaccurate information.
Take this as your cue to make sure you’re diligently fact checking information, and then using your human skills to contextualize the information so it can be leveraged.
But for all the risks of these hallucinations, AI and automation have the potential for delivering the right intel to the right people at the right moment in ways humans never could.
Make AI your co-pilot, not your autopilot.
Watch Economics Professor John Horn break down how he advises companies to get inside the competitor’s mindset
Gaining the exec team’s confidence into your compete program is all about aligning your program’s strategy to organizational needs.
And beyond their individual needs, Mayur says you need to get a handle of the makeup, vision, and goals for the organization as a whole.
Sales-led organizations should support sales first. If you’re a PLG company, the DNA of the organization will look altogether difference.
Assess where competitive intelligence and enablement can best serve the organization based on executive wants and needs, and focus your efforts there.
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