AI failure, cabaret and my back passage
It's all going on this week as business optimism is growing, Lloyds Bank research suggests...
Welcome to the end of the week. At last...
Here's why tech is great.
5 reasons your AI product sales are in the back passage
I've helped three AI companies go to market this year.
In running client-demand research with large buyers and heads of AI transformation, five trends emerged on why assumptions and routes to market on AI products are leading to limp outcomes.
You can watch the video on this if you prefer, but the AI leaders said:
- They want to develop in-house for competitive advantage
- They are keeping you in proof-of-concept purgatory to study your product to see what they can build themselves
- They’re extending typical POC times to see how fast you go out of date vs free or new tools as there’s a much faster cycle of improvement
- You think they want your product as SaaS. They don’t. They have buyer’s remorse over buying too much SaaS and they’ve learned their lesson. They want expertise - much to the dismay of your investor
- The exec buyer has no idea what it is they’re buying in the product. Gartner has separated tens of categories in AI, but the CXO might know about two or three. In other words, the market wants your expertise and service - not just your product.
You need to rethink your sales strategy and be consultative (consultancies are doing really well), your entire value proposition and your messaging.
It's not working as you want it to (probably). It’s already extremely competitive. So reach out for help before you balance sheet gets doofed in.
News analysis (skewed)
BBC: Sir Keir has repaid £6k in gifts and experiences - a round of applause for those with the broadest shoulders.
Lloyds: UK financial institutions doubled AI investments over last year and the report suggests optimism is growing in the City - Was the survey filled in by AI?
FT: Why are the British so reluctant to invest? - If salaries had moved with prices for the last 20 years, people might be more optimistic about investing.
Coin Telegraph: Visa reveals tokenized digital asset management platform - in sandbox phase for innovation theatre and share price story peacocking?
Guardian: Carmakers ramp up pressure on chancellor for EV sales subsidies - what do you mean people can't afford cars that way more expensive and can't do the miles?
Shoutouts and Classifieds
Big thank you to the Mayfair Collective (Siv and Alexei) for taking The Executive Summary to the reopening of Lio - a spectacular cabaret night on Coventry Street. The dancing, food (try the jamon) and friends in the MC made it a wonderful night.
The Executive Summary's AI Frontiers Events Series:
In a collaboration with the excellent Dan Brown and Mark Melvin, we have launched our events for this year. Do sign up. We're looking for sponsors.
Would you like to reach a growing audience of 1000+ CXOs in some of the UK's most important organisations? It's time to think about sponsorship. DM me if you'd like to discuss.
Dan
PS - I found this on my camera this morning before one of them shot me with a Nerf gun.
