Forget networking. In the Age of AI, build a 'favor bank' instead

"Years ago, not long after I had struck out on my own to start my own PR agency, I attended a party where I met a prominent journalist at a top-tier news outlet and we had a nice chat and exchanged contact details. For years we didn't cross paths professionally. But one day, she reached out. A source for a very sensitive story needed advice on how to handle the press scrutiny that she would soon be experiencing."

"Beyond the numbers, there's a hidden currency in business that yields richer returns than any deal you could close. It is the power of favors, freely given and authentically received. In a world where AI can automate emails, suggest connections, and streamline transactions, the human gestures that cannot be automated become even more valuable. A well-built "favor bank" can unlock long-term relationships, opportunities, and goodwill that no amount of money can buy."

"In 2015, researchers at the University of South California's Brain and Creativity Institute found that even the smallest acts of kindness (holding a door open with eye contact and a smile) result in "thank you," or even an offer of help in return. This is the foundation of favor banking: That small, thoughtful gestures can influence how others respond, yielding larger returns over time, both pe"

An initial unpaid act of counsel to a journalist led to ongoing referrals and introductions, demonstrating how freely given favors build trust. Such trust translates into long-term business value that surpasses immediate monetary gains. In an era of AI automation, human gestures that cannot be automated become increasingly important. Expecting transactional compensation for introductions undermines the favor-bank approach. Research from the University of Southern California’s Brain and Creativity Institute shows that small acts of kindness prompt reciprocation, forming the basis for favor banking. Consistent small gestures can influence responses and yield increasingly larger returns over time.

Read at Fast Company