Summary. The AI era is in its early stages, and the technology is evolving extremely quickly. Providers are rapidly introducing AI "copilots," "bots," and "assistants" into applications to augment employees' workflows. Examples include GitHub Copilot for coding, ServiceNow Assist to improve productivity and efficiency, and Salesforce's Agentforce for everyday business tasks. These tools have been trained on a wide range of data sources and possess expansive expertise in many domains. The quality of expertise embedded in them is already relatively high, but the level of expertise is still growing rapidly while the cost of accessing it is decreasing. In the relatively near future, more-advanced "AI agents," equipped with greater capability and broader expertise, will be able to take action on behalf of users with their permission. Companies that adopt AI will benefit from what the authors call the triple product: more-efficient operations, more-productive workforces, and growth with a sharper vision and focus. They must be prepared to make trust and safety among their top priorities and to cultivate a group of employees who are early adopters. The authors provide guidance for the process.

AI is changing the cost and availability of expertise, and that will fundamentally alter how businesses organize and compete. At its most basic level a business can be considered a differentiated bundle of expertise organized to accomplish specific tasks. Expertise -- which we define as a combination of deep theoretical knowledge and practical know-how in a specific domain -- can take many forms within a business. A doctor's office requires not only a practitioner's medical knowledge to make fast and accurate patient diagnoses but also the managerial capabilities to run a practice. A software company requires expertise not only in software engineering but also in marketing, sales, operations, and finance to bring its products to market. Companies create value by applying their expertise efficiently at scale to solve problems for their customers. Typically they possess it in a variety of areas, but most differentiate themselves through their unique proficiency in just a handful of activities that are fundamental to how they create competitive advantage. Toyota's superior expertise in lean manufacturing has helped it become one of the world's leading automakers. Walmart has built superior expertise in distribution, Procter & Gamble in consumer marketing, and Nvidia in graphics processing unit (GPU) design.