ChatGPT dominated news headlines in 2023. But generative AI isn’t just a hack to boost productivity. Many businesses are exploring its potential to create new products and services, which requires entirely new strategic work. In this episode, HBR editor-in-chief Adi Ignatius, Microsoft’s head of strategy Chris Young, and Harvard Business School professor Andy Wu lay out Gen-AI’s emerging value chains and break down the competitive risks and tradeoffs that businesses should consider as they incorporate this new technology.

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