How to Prepare for Business Planning in Uncertain Times
Published by CrowdSmart on
Dec 10, 2021 10:40:27 AM
With 2022 rapidly approaching, business leaders are working hard to anticipate and plan for the business environment in the next few quarters as well as to forecast for the years ahead. However, the turmoil of an unsteady market and the pace of competitive innovation show no signs of slowing down.
Given this uncertainty, business leaders feel added pressure to make accurate decisions and build strategies they feel confident will meet their objectives. In this challenging environment, obtaining the most insightful, current, and relevant data becomes the critical factor in planning, whether you are developing new products, determining staffing priorities, setting corporate strategy, managing digital transformation, or planning other critical business needs. That’s why CrowdSmart’s AI works on the decision maker’s behalf to greatly increase the accuracy of the planning and decision process while also increasing the extended team’s participation and contribution. And this is a form of AI that any business user can configure, manage and understand the results.
In this post, we’ll share everything you need to know about how CrowdSmart can help you maximize the resources you already have to reduce your risk and make better planning decisions for the year ahead.
AI That Helps You (Not the AI) Make Smarter Decisions
A new Forbes article recognized that one of the key breakthroughs in 2022 is acknowledging the need for AI to complement, not control, human insight, knowledge, and inspiration: “...as companies navigate the process of creating data and AI-literate cultures within their teams, we will increasingly find ourselves working with or alongside machines that use smart and cognitive functionality to boost our own abilities and skills.” This relatively new concept of AI combines and leverages the combination of human reasoning with artificial intelligence to help the decision-maker find and interpret the most recent and relevant data possible to make the most accurate plan or decision.
Unlike forms of AI trained on historical data, AI that’s based on human input learns from any group you choose to participate in a review of the topic of your choice. So instead of replacing your team or trying to make decisions for your team, this form of AI acts as a ‘super’ brainstorm facilitator. It queries, refines, and analyzes the insights of people around you to distill their intuition and their perception of others’ ideas into a clear source of quantified data for your consideration. By doing so, AI can help leaders scale the number of people whose opinions can be considered, reduce the bias from their consideration of each other’s ideas, and summarize their insights into a comprehensive knowledge model to support complex decisions or plans. Importantly, it still leaves human decision-makers and their teams in control of the decision. This is AI that surfaces the ‘last mile’ of data: the knowledge and insights trapped in the minds of the people who you trust and whose thoughts you need to understand the most.
The CrowdSmart Solution
CrowdSmart learns from real-time human interactions and converts opinions into predictive computational models that generate new data.
Battle-tested, CrowdSmart was originally created as a technology platform for an AI-driven venture fund. A team of 2500 investment experts used CrowdSmart technology to collectively generate 80% accuracy in predicting follow-on funding momentum for a cohort of 150 companies. Not only did CrowdSmart boost prediction accuracy, but it also significantly reduced bias. In this same test, 40 percent of the startups in which the experts invested were led by women, whereas in the market today, only 2 percent of women-led startups receive such investments.
With each use of CrowdSmart, the accuracy of your key decisions and your institutional knowledge grows in depth and intelligence over time, creating an atmosphere of constant improvement and better returns. Crowdsmart is the intelligence that keeps on giving.
Ready to level up? Let’s schedule a demo today and see how we can help you make better decisions by combining the best of human and artificial intelligence. CrowdSmart discovers and refines the knowledge you need to make smarter decisions.