If someone else destroys our old business model, we will be ruined. But if we destroy our old business model, we will survive.

Nobuhiro Tsunoda, chairperson, Ernst & Young Tax Co., Japan

If your team came to you and suggested that the time had come to destroy your own business model, how would you react? Would you consider that a ridiculous and impossible mandate? Or, would you embrace that challenge as a way to proactively change and transform your organization?

For many, this challenge is at hand with the arrival of generative AI. 

Generative AI has the potential to both transform organizations and render them obsolete. As such, future-focused CEOs are aware that status quo is not an option. According to research published in the IBM Institute for Business Value’s C-suite Study Series, the majority (59%) of top-performing CEOs surveyed agree that competitive advantage depends on who has the most advanced generative AI. But 72% of those respondents see industry disruption as a risk, rather than an opportunity. And 62% realize they will need to rewrite their business playbook to win in the future. 

As a leader, how do you shift your mindset to see generative AI as an opportunity? And how do you start writing a playbook for a future that does not yet exist?

“Artificial intelligence is a top priority for businesses everywhere as leaders start to realize its transformative value in improving how their companies operate, make decisions, and deliver results,” says an article from MIT Sloan School of Management. “To truly reap the benefits of artificial intelligence, executives need an understanding of how AI systems operate and what they do well.”

The MIT article suggests leaders must gain hands-on experience, encourage AI use among employees, think about AI as a research and development investment, consider what it means to have such vast amounts of data, use AI to improve customer and employee experience and be attuned to ethical considerations. That means not only looking at the business model but also the entire strategy and organizational structure. Such a comprehensive set of actions will take resources, time and the right people. 

I asked local leaders: “What is one piece of advice you have for leaders who are contemplating how generative AI can be used to advance their business?”

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David Chivers, founder, Digital Acceleration Partners 

To effectively harness the power of generative AI, leaders should start by taking small, practical steps to integrate it into daily operations. If you haven’t already, experiment with the tools yourself now. Get a quick sense of what works and what doesn’t. Identify a small group of employees who are excited about the technology and give them permission to experiment. There are many ways that generative AI can help you and your team to become more effective. 

Here are four low-cost, low-risk ways to pilot gen AI in your organization tomorrow: 

1. Make meetings more efficient by using it to build agendas, capture minutes
   and summarize. 
2. Training and learning partner: Use gen AI to create personalized study plans, explain complex concepts and recommend resources. 
3. Coaching: Use for skill development plans, performance feedback, motivation and goal setting.
4. Finally, don’t hesitate to rent external expertise to scale AI initiatives quickly.

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Rowena Crosbie, president, Tero International

“There’s never enough time to get everything done.” This common refrain is uttered in businesses across the globe by employees and leaders alike. Enter generative AI, with the promise of impressive time-saving and effort-saving improvements in content creation for job descriptions across nearly every industry. If leveraged effectively and responsibly, most workers will gain at least a couple of hours every week and possibly as many as five to 10 hours per week. What would you do if you had the gift of a few extra hours available at work every week? Multiply five hours per week by the number of employees in your organization and ask what the organization could accomplish with that extra time. Leaders are encouraged to challenge the fears they may have about artificial intelligence and choose to learn how to responsibly leverage generative AI to advance their businesses.

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Scott Johnson, Thome Professor in Business, professor and chair, department of management and entrepreneurship, Iowa State University – Ivy College of Business

I recall when email was a disruptive technology. My executive director had his secretary print emails after lunch and would personally follow up on internal ones while dictating responses for external ones. We were not on track to win the future! My advice now is to get everyone, from interns to the CEO, using generative AI. Pay for subscriptions, support training sessions, publicize new uses of AI and encourage the skeptics to experiment with it. This involvement will help your organization to envision and shape the future. Eventually, you’ll need to develop strategy, set goals, update job roles, and track progress, but for now, focus on getting everyone experimenting with AI in their daily tasks. (This response was rewritten with Microsoft Copilot to make it clearer and 50 words shorter.)

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Joe Murphy, president, Iowa Business Council

One key piece of advice for leaders is to start with a clear understanding of the specific problems they want to solve or the goals they aim to achieve with generative AI. Rather than adopting the technology for its own sake, identify areas where it can enhance efficiency, improve customer experience or foster innovation. Business leaders should engage cross-functional teams to explore potential use cases and prioritize pilot projects that can be scaled if successful. This approach ensures that the integration of generative AI is aligned with the business strategy and delivers demonstrable value.

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Brian Waller, president, Technology Association of Iowa

For leaders considering generative AI, my advice is to focus on aligning its capabilities with specific challenges or opportunities within your business rather than adopting it purely for trend’s sake. The Technology Association of Iowa’s board of directors is optimistic about the potential of generative AI, recognizing that it can be transformative when applied thoughtfully. Its true value lies in solving real business challenges — whether improving efficiency, enhancing customer experiences or driving data insights. The possibilities are vast, but understanding the problem first and using the tool with purpose can turn potential into real, measurable impact.

In today’s fast-moving tech landscape, those not exploring gen AI risk falling behind. Start with a clear problem, get the right voices in the room and consider how AI can empower your workforce to work smarter. Remember, keeping an adaptable approach will help you remain responsive as the technology evolves.