Introducing Unfamiliar Technology to Executives
There is now more competition than ever in the tech and economic sectors. Not only do IT teams face pressure to keep up with developments like blockchain and artificial intelligence (AI), but the C-suite is also affected.
Let’s face it, though: CEOs are experts at pretending to be successful. You just need to sound like an expert when it comes to blockchain and artificial intelligence.
With the knowledge, buzzwords, and expert advice in this guide, you’ll be able to handle discussions about these technologies with assurance. Are you prepared to improve your tech talk? Let’s get started!
Blockchain: Beyond the Buzz Around Bitcoin
The Elevator Pitch: How to Respond to the Question, “What Is Blockchain?”
Consider this: You’re at a conference, and someone asks, “So, what are your thoughts on blockchain?” Let the internal panic begin.
Do not be alarmed! Here’s how to provide a flawless response in under 30 seconds.
The Easy Way to Explain
The term “blockchain” refers to digital record-keeping. This technology allows data to be securely and impenetrably stored across several locations rather than in a single location. Imagine it as a shared spreadsheet where everyone has an automatically updating copy, rather than just one person holding the master copy.
The Analogy at the CEO Level
Consider blockchain to be similar to Google Docs. When you share a Google Doc, everyone with access can view the most recent version in real-time. However, imagine that everyone has the same, secure copy, and no one can alter it without everyone’s knowledge, rather than just one person controlling it.
Buzzwords You Can Use Without Trying to Sound Professional
Knowing the appropriate words to use in conversations is more important than knowing everything. Add these blockchain-related terms, and you’ll see heads nod in agreement.
Distributed Ledger Technology (DLT)
You can casually respond, “Oh, you mean Distributed Ledger Technology?” when someone uses the term “blockchain.” This instantly gives the impression that you have years of experience in the forefront of technological innovation.
Pro Tip: If someone asks you to describe DLT, say, “It’s essentially a decentralized database shared across multiple participants. Each update is verified by the network to guarantee accuracy.” After that, pause for impact. Give them time to process it.
Intelligent Contracts
When discussing business process automation, throw this one in. Because they run automatically when certain conditions are met, smart contracts are revolutionary. No intermediaries.
Pro Tip: Use a phrase like this: “It’s similar to setting up a vending machine. The machine dispenses the item after you insert the money; no human involvement is required.”
Decentralization
In conversations about blockchain, this word is invaluable. The key is decentralization. The single point of failure is eliminated.
You can state with confidence that it lowers risk if someone asks why that matters. The data is more secure because it is not under the control of a single individual or entity.
Immutable
Want to sound like a blockchain expert? Use the term “immutable.” One of blockchain’s advantages is its immutability — meaning data cannot be altered once it has been recorded.
If they ask for more details, say, “It’s a digital paper trail you can’t erase — perfect for things like audit logs and verifying transactions.”
Discussing Business Uses Without Impeding Your Audience
Using buzzwords is one thing. However, it’s the ability to relate blockchain to practical business use cases that truly sets you apart as a tech-savvy executive. Here’s how to avoid using jargon and keep it relevant and easy to understand.
Monitoring the Supply Chain
Say something like, “Blockchain is great for tracking products from suppliers to stores,” if someone brings up blockchain and logistics. It guarantees that each step is transparent and validated.
“Walmart already does this to track produce from farm to shelf,” you can add. It expedites recalls and enhances food safety.
Transactions and Payments
Are you discussing money? Say, “Cross-border payments are being transformed by blockchain. It lowers expenses and shortens transaction times from days to minutes.”
For instance, “JPMorgan’s blockchain platform expedites international payments, increasing their efficiency and security.”
Security of Data
If the topic of cybersecurity comes up, say, “Blockchain is a secure way to store sensitive data.” Hackers find it much more difficult to alter the data because it is decentralized.
Pro Tip: “Amazon protects customer data with blockchain technology. It’s like having a lock on every digital door.”
Think of Artificial Intelligence as Your Own Personal Army of Robots
What to Say When Someone Asks “What Is AI?”
During a meeting, someone asks, “What do you think about AI?” Here’s how to respond without coming across as though you looked it up on Google ten minutes ago.
The Easy Way to Explain
Simply put, artificial intelligence, or AI, is the technology that enables machines to simulate human thought and decision-making.
The Analogy at the CEO Level
AI can be compared to hiring an exceptionally productive intern:
• Works 24/7 without getting tired.
• Continues to learn from data to become smarter.
• Never complains about boring chores or coffee runs.
Do you require a follow-up? “AI isn’t about replacing humans with robots. The goal is to increase human efficiency.”
Buzzwords to Use Subtly (To Give the Impression That You Are Knowledgeable)
Here are some tips for incorporating AI buzzwords into your discussions:
Machine Learning (ML)
“Netflix recommendations? That’s machine learning in action.”
Processing Natural Language (NLP)
“Alexa and chatbots are powered by natural language processing.”
Vision in Computers
“Consider self-driving cars, which employ computer vision to ‘see’ road signs and pedestrians.”
Networks of Neural Systems
“It’s a pattern-recognition system that is based on the human brain. Deep learning is powered by it.”
How Businesses Are Using AI in Practice (Take These Examples!)
Walmart: “Walmart predicts customer needs and optimizes supply chains with AI.”
Goldman Sachs: “They use AI to detect financial risks and improve client services.”
Amazon: “AI powers every aspect of Amazon’s customer experience, from Alexa to product recommendations.”
Expert Advice on How to Appear Smart Without Knowing Much
The Smile-and-Nod Method
When it becomes overly technical:
1. Pause for impact and nod slowly. Then, ask: “Interesting. How do you think that will change over the next three to five years?”
2. Make a follow-up inquiry. For instance:
• “How is this consistent with our business plan?”
• “What obstacles do you think this solution’s scaling will present?”
The Trick of “Ask a Great Question”
Essential Questions to Always Have on Hand:
What is this technology’s possible return on investment?
Shows you’re focused on practical results.
What is the most difficult aspect of scaling this solution?
Makes you seem wise and experienced.
The “Accuse Regulation” Move
Feeling lost? Put the blame on regulations:
Scenario 1: “This AI system could revolutionize how we handle customer data,” someone remarks. “That sounds promising,” you say. “However, what about adherence to privacy laws like GDPR?”
Scenario 2: The discussion turns to how blockchain might upend finance. Your response: “It’s exciting, but we need to see how regulators respond. Central banks and the SEC will have a significant influence on adoption.”
Power Line to Have on Hand: “We must be aware of the regulatory environment. Being innovative is one thing, but doing it responsibly is quite another.”
In Conclusion, You’re Prepared to Confidently Fake It
Well done! You now know enough about blockchain and artificial intelligence to participate in any tech discussion without becoming bogged down in details.
Keep in mind the Golden Rule: You only need to sound like an expert, not be one.
You can easily come across as tech-savvy by practicing your elevator pitch, using a few key buzzwords, and asking thoughtful questions. And when things get too technical? You can’t go wrong with a nod-and-smile or a blame regulation.
Simply state, “We’re exploring opportunities in blockchain and AI,” if nothing else works. It’s vague, impressive, and works every time.
