The TikTokization of Everything: AI, Startups, and Product Management

The TikTokization of Everything: AI, Startups, and Product Management

In today's digital age, where attention is a valuable currency, it's no surprise that money follows attention, especially in the world of advertising. This is why digital ad spending for mobile platforms is on the rise. With the majority of data now being stored in the cloud, these markets are far from saturated, but the opportunities may be less abundant than they once were.

So, where is the venture capital (VC) money going these days? It seems that investors are eyeing emerging technologies such as virtual reality/augmented reality (VR/AR), web3, and artificial intelligence (AI). AI, in particular, has seen significant advancements in recent years, making it easier than ever to leverage data for better recommendations. One notable example of AI's impact is seen in commerce, with companies like SHEIN utilizing AI technology to provide personalized recommendations to their customers.

However, AI's influence extends far beyond just commerce. AI is making its way from the infrastructure layer to the application layer, meaning that everyday people are starting to interact with AI technology more than ever before. One prominent example of this is the rise of TikTok and its algorithm-driven For You Page. The app uses AI to curate a personalized feed of content that anticipates users' interests and desires before they even know them.

As we look ahead to the 2020s, it's clear that AI will continue to play a significant role in shaping the tech industry. The major consumer applications of AI will revolve around sophisticated recommendations that cater to individual preferences. This trend will likely extend into various industries, further enhancing the customer experience and driving engagement.

While AI's potential seems limitless, it's essential to consider the role of product management in harnessing this technology effectively. Product managers (PdMs) are responsible for making decisions that can make or break a company's success. The question of who should make these decisions depends on the organization's size and structure. In a newly established startup, the CEO or CTO may take the lead, while larger organizations might assign the responsibility to dedicated PdMs.

Regardless of who holds the decision-making power, effective PdMs play a crucial role in conveying the essence of the business to all team members. They must ensure that everyone understands the goals and objectives of the product and how it contributes to the overall success of the company. PdMs must also strike a balance between product development and sales, especially in the world of B2B software-as-a-service (SaaS) startups. Unlike consumer-oriented products, B2B products often require a sales process before customers can start using them.

To excel in the field of product management, there are several essential skills and frameworks that PdMs should possess. Firstly, they must have strong questioning skills to gather insights from all stakeholders involved. Secondly, PdMs need to excel in problem-setting, as it is crucial to identify and address the right challenges. Additionally, they should have a deep understanding of how to translate business requirements into actionable product features. Familiarity with application design principles, general knowledge of B2B businesses, and industry-specific expertise are also highly valuable.

In summary, the TikTokization of everything signifies the growing influence of AI in various aspects of our lives. AI's ability to provide personalized recommendations is transforming industries, from e-commerce to entertainment. As this trend continues, it's vital for product managers to adapt and embrace AI technology. By honing their questioning skills, problem-setting abilities, and product knowledge, PdMs can effectively leverage AI to drive product success and meet customer demands.

Actionable Advice:

1. Embrace AI: Stay updated on the latest advancements in AI technology and explore how it can enhance your product offerings. Look for opportunities to integrate AI-driven recommendations and personalization features to improve customer experiences.

2. Foster Cross-functional Collaboration: As a product manager, it's crucial to work closely with other teams, such as sales and engineering. By fostering collaboration and communication, you can ensure that product development aligns with business objectives and customer needs.

3. Continuously Learn and Adapt: The tech industry is constantly evolving, and AI is at the forefront of this transformation. Stay curious, invest in your professional development, and be open to learning new skills and frameworks that will help you navigate the AI-driven landscape effectively.

In conclusion, the TikTokization of everything represents the growing influence of AI in our daily lives. From personalized recommendations to improved customer experiences, AI has the potential to revolutionize industries across the board. As product managers, it's essential to embrace AI, foster cross-functional collaboration, and continuously learn and adapt to effectively leverage this transformative technology. By doing so, we can navigate the evolving tech landscape and drive product success in the AI era.