Cisco’s former CEO John Chambers is urging leaders to rethink the old playbook. On the “Grit” podcast, he explained that updating your strategy every few years no longer cuts it when you’re facing the rapid changes driven by AI.
Having steered Cisco from 1995 to 2015 and now leading JC2 Ventures, Chambers highlighted that AI is developing at about five times the speed of the traditional internet and delivering three times the results. This brisk pace means that success or failure can come much quicker than before, making yearly reinvention a must.
We’re already seeing AI reshape industries. JPMorgan Chase, for instance, is trimming its hiring as it leverages AI to streamline operations, while LinkedIn reports a 30% faster growth in AI-related roles compared to the overall market. By 2030, experts expect up to 70% of job skills to change as AI continues its advance.
Chambers advises a complete rethink of business strategies – from target markets and product line-ups to how you differentiate your offering. He cited an example where a founder doubled business growth while trimming staff by 10%, simply by integrating AI into product development, sales, analytics, and customer service.
As large language models become more common, what sets companies apart is how deeply they embed AI into their tech stacks. Leaders like Amazon CEO Andy Jassy stress that while the opportunities are plenty, managing the risks of algorithms and models is equally important.
Consulting giants such as McKinsey and BCG are also leaning hard into AI, dedicating a significant part of their work to analytics and emerging technologies. For anyone in the tech sphere, the takeaway is clear: to stay competitive in today’s climate, you must innovate continuously.
