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Exo Attribute 1: Algorithms - The Daily PPILL #405
The best performing organizations in the world share 11 different attributes. By leveraging these, they can achieve performance levels orders of magnitude better than their industry peers. That's why they are considered Exponential Organizations (ExOs).
Artificial Intelligence is one technology powering one of those attributes: Algorithms.
This fancy word has a pretty disappointing origin. It doesn’t come from the greek “algos”, and has nothing to do with rhythm. Some trace it back to the name of a Persian mathematician. Wikipedia defines it as a “finite sequence of rigorous instructions, typically used to solve a class of specific problems”.
Under those premises, any process that can be followed without any deviation can be an algorithm. This allows businesses to scale without the need of very specialized labor. But the real power appears when these processes can be automated, making it possible for the business to scale without ANY increase in staff. Algorithms also improve quality and consistency, and in a world of “big data” and AI, algorithms can provide organizations with new capabilities not achievable by humans.
As with almost every one of the 11 exponential attributes, the closer the attribute is applied to the final product or service that the customer consumes, the bigger the exponential effect.
ExO Attributes are the 11 things that the best performing companies in the world do particularly well, and that allow them to deliver in excess of 10x better results.
For more about the exponential attributes, a good place to start, if you haven't read it yet, is by reading Exponential Organizations 2.0. Get a free copy of it HERE.
I repeat that. I HAVE A FREE COPY OF THE BOOK FOR YOU HERE.