Don't let your business become the next Blockbuster
I had the pleasure of hearing Jorge Perez, CEO of YMCA Greater Cincinnati, speak at the World Impact Summit at Crossroads in Mason, OH this week. He shared some great examples of people who were not prepared for the future or willing to take risks. His keynote was fantastic. He shared the two quotes from Johannes and Ned below.
Johannes Trithemius
“Printed books will never equal scribed books, especially because the spelling and ornamentation of some printed books is often neglected.”
Ned Ludd
“We will never lay down our arms until the House of Commons passes an Act to put down all machinery hurtful to commonality.”
*He is the original luddite: a person opposed to new technology or ways of working.
Two more stories to include:
Blockbuster's Rejection of Netflix:
Blockbuster had the opportunity to buy Netflix for $50 million in 2000 but dismissed it, believing their traditional business model was superior. By 2010, Blockbuster was bankrupt, while Netflix became a global entertainment giant by embracing digital streaming.
Kodak, a company that literally invented the first digital camera in 1975 but chose to suppress the technology, fearing it would cannibalize their profitable film business. Instead of leading the digital revolution, Kodak found itself on the wrong side of history, filing for bankruptcy in 2012.
The history of industry is filled with cautionary tales of companies that failed to adapt to technological change, leading to their downfall.
What’s the Common Thread?
The leaders of these companies were not unintelligent or uninformed; they were simply resistant to change. Whether it was fear, complacency, or overconfidence, their inability to embrace new technologies led to their downfall. These stories are a stark reminder that no matter how successful a company is today, failing to adapt can result in becoming obsolete tomorrow.
Embrace Curiosity and Innovation
Adopting AI doesn’t mean overhauling your entire business overnight. It starts with curiosity—asking how AI can solve your challenges, enhance your services, and position your company for future success. By fostering a culture of innovation and encouraging your team to experiment with AI, you can navigate this technological shift with confidence.
Playing it Safe is Risky #marketoon https://marketoonist.com/2024/08/safeisrisky.html
So, what can you do?
Educate yourself and your team: understand the basics of AI and how it’s impacting your industry.
Start small: identify low-risk areas where AI can be implemented to improve efficiency.
Encourage a growth mindset: cultivate a culture that embraces learning and experimentation.
Seek expert advice: partner with AI experts who can guide your adoption strategy and ensure you’re leveraging the technology effectively.
Greater Cincinnati AI Events for 2024 (over 60 events)
New events are added weekly. Here are the events that I am aware of: https://kendraramirez.com/cincinnati-ai-events-2024/
September 4-6 Midwest Con! Join hundreds of builders in the Midwest for hacking emerging tech solutions, insightful workshops, policy discussion, networking, and a Demo Day. If you have never hacked before or are not technical, no worries! We have beginner tracks for AI and blockchain. Snag your tickets now before it is sold out.
Register here: https://midwestcon.live/
Only 2 posts left. Sign up now for September 17 from 3-5 for our CincyAI meetup. Come see why we sell out every month with over 150 attendees. Half of the room is AI developers and half the room is the business community navigating AI. Thank you to UC Research and Digital Futures for your partnership. https://www.eventbrite.com/e/884885886507?aff=oddtdtcreator
Mark your calendar for October 8 for our next meetup.
September 18 SCORE Confluence Conference. The links are clickable in their pdf. https://drive.google.com/file/d/1LvdvZniLoRH0-z4_OfKF3erZyMy4-dU7/view I am leading a session on Change.
September 19 11:15-1 Florence Business Council https://business.nkychamber.com/events/Details/florence-business-council-september-meeting-ai-for-business-growth-1065323?sourceTypeId=Website
September 20, 8-12 at Miami University in VOA. Butler County Workforce Development https://www.eventbrite.com/e/ai-integration-shaping-tomorrows-future-tickets-935909720167?aff=oddtdtcreator
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Kendra Ramirez
KendraRamirez.com
We provide AI Speaking and Training, AI Readiness Assessments, AI Strategy, AI roadmap and implementation, and AI Coaching for small to mid-size businesses.