AI has quickly become a powerful tool in the day-to-day work of many companies. Especially in information gathering and analysis, the barriers to entry are comparatively low and the gains in speed are high. Traditional desk research has become less important. At the same time, however, the demands on evaluating and contextualising the data obtained are increasing. And implementation also brings new challenges. For strategic decisions, three factors will therefore matter most in future: focus, capabilities and execution power. We explore the field for you and share tips on how to make better decisions faster and implement them more consistently in the age of AI.
AI speeds up day-to-day work
The increasing use of AI in companies is fundamentally a positive development. Work steps such as research, data preparation, initial market analyses or structuring complex issues can now be carried out much faster. Accordingly, AI is also increasingly being used in the packaging industry for analysis, development and operational processes.
Speed is no substitute for a robust data basis
The use of AI becomes more critical where strategy, investment decisions or the allocation of major resources are concerned.
For example: a precisely stated market size or growth rate is not yet a robust basis for decision-making. What remains decisive is:
- Where does the data come from?
- How was the market defined?
- Is the methodology transparent?
- Can the results be validated against other sources and industry knowledge?
In the packaging market in particular, different definitions of materials, applications, packaging formats or regions can lead to considerable differences in market sizes.
Structured, high-quality data is becoming more important
When it comes to data quality, the sources automatically come into focus. AI can gather and process existing information faster, but it cannot automatically detect or correct an inadequate data basis (particularly in terms of quality).
This is why structured, clearly defined and often not freely available data sources are gaining in importance. At BP Consultants, we therefore draw on licensed GlobalData data, among other sources, and combine it with further sources, our industry knowledge and our own plausibility checks.
Conclusion
The easier and faster information becomes available, the more important it is to assess its quality – and to have the expertise needed to do so.
Consequence 1: strategy work is changing
Technological change is also transforming strategy work. It is becoming faster and more focused. This also affects the way consulting projects are carried out.
Research and analysis phases may be considerably shorter. Questions such as market segmentation, target market focus or strategic prioritisation, which used to take up to several months, can now be answered much more compactly if good data is available.
This also makes smaller, more workshop-based strategy projects possible. These are often easier to access, especially for mid-sized companies. New options are opening up.
Consequence 2: from analysis to implementation
Another change can be seen in the field of consulting. With the increasing availability of information, tasks are shifting here too.
Gathering information and formulating strategies remain fundamental tasks. But something else is becoming decisive: helping organisations move faster from insights to decisions and from decisions to implementation.
Three key factors in practice
To achieve this, consulting cannot be limited to pure analysis. Focused expertise and competent implementation management are an indispensable part of the services required.
Three factors come to the fore and call for sound answers:
- Focus: Which topics and markets actually deserve attention and resources?
- Capabilities: What competencies, processes and structures does the organisation need to implement a strategy successfully?
- Execution power: How are decisions consistently translated into concrete measures, and how is change driven forward within the company?
The bottom line
The use of AI can significantly accelerate strategy work. However, its greatest benefit does not come from taking over decisions. It creates the freedom to make better decisions faster and to implement them more consistently.
Yet, particularly in an environment of rapid change, it is only through reliable data, a clear focus and execution power that decisive competitive advantages are created.
