Tip: always speak money
Money talks when words don’t make sense. This can be the case when discussing Artificial Intelligence with CEO’s who haven’t yet correlated their own business processes with artificial intelligence and machine learning. Investment discussions are going to take the buy-in from senior leadership, champions, and YOUR PITCH to get movement within your company, so it’s best to prepare yourself with an arsenal of resources that you can align to your designated industry and deliver your best pitch.
Do you only talk benefits and show lengthy PowerPoint slides that are too tactical for today’s modern CEO to grasp?
Here are some ways you can learn to adjust your language to theirs and speak to them in a way, so they can digest the concept of Artificial Intelligence and the proposed opportunity as it pertains to your industry.
Selling your ideas to your executive will work if you follow these 10 simple presentation steps:
1. Limit your presentation to no more than 1-3 slides. Be succinct and be poignant. Make each slide matter. It’s better to have fewer slides than more.
2. Sell your idea to other key leaders and get champions in the room during your presentation to give you credibility.
3. Explain how current AI trends show that companies are investing in data scientists, which are in high demand, and finding and retaining top talent is a constant struggle. Instead of trying to hire a full-time employee at a competitive cost, show them the cost comparison of outsourcing the position. Get top talent for the best price and work with leading data scientists and experts in the AI industry. Help your CEO discover what AI can do for your business by partnering with a trusted AI vendor to express your dynamic vision.
4. Explain how AI can transform their business processes and uses machine learning to create a technology ecosystem that serves customers the way they want to be treated. A customer-centric culture should be the core focus of all business operations.
5. Bring in an expert data scientist to explain Artificial Intelligence 4.0 and how to use machine learning for prediction indicators relative to consumer behavior as it relates to your specific company.
6. Reference AIindex.org and notable magazines like Forbes, Wall Street Journal, and Bloomberg to support your pitch. Explain how since 1996, Stanford University has enrolled more than 11x the number of students, since 2000, the number of AI startups has increased 14x, and since 2013 the number of AI skilled jobs in the U.S. has grown by 4.5x.
7. Explain to them the risk and cost of doing nothing and how their competition will likely pass them, and they’ll be left wishing they invented that cool new AI process, instead of vying for the opportunity to acquire their competitor. This chart from McKinsey explains the reward for the AI front-runners and the cost of being a laggard.
8. Be relevant and explain to your CEO what your competitors are doing with AI and how you can differentiate the company and provide value. There is nothing like the fear of being beaten to create urgency for your position. Show specific examples in your industry: If you are in the Retail Industry, reference Amazon, the world leader in retail, and explain their use of AI to provide purchase recommendations and personalize the user experience. The ease of use for customers derives from AI prediction learning over time to refine machine learning about customer preferences and evolving to clearer purchase predictions.
9. Show them your blueprint for rolling out the capability and what it entails across your organization, departments affected, cost savings, investment estimates, and personnel budget. Be prepared for detailed questions.
10. And lastly, show your kid your presentation first, and if they can’t understand it, likely your boss might not either.