Embracing the AI Revolution: Reshaping Industries and Business Models

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22.11.23
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In an era defined by rapid technological advancements, AI stands at the forefront, reshaping industries, revolutionising processes, and challenging the boundaries of what’s possible. Its transformative potential has become a focal point for forward-thinking enterprises seeking to keep pace with the rest of the world.

Recently, one of our Northern associates, James Crawford, hosted our second Virtual North Orange Exchange where our associates joined together to discuss Generative AI, delving into the complexities of change management within an AI-driven environment. One thing became clear through our discussion: Generative AI is poised to redefine traditional business models, prompting organisations to rethink, reimagine, and ultimately reinvent themselves in the midst of this technological revolution.

 

PEOPLE CHANGE

Throughout the rich conversation, one theme was most common: our People. Incorporating people change is even more crucial in business transformation when AI is involved. While AI can bring about significant efficiency gains and innovative solutions, it’s essential to remember that it’s the people who will interact with, manage, and ultimately benefit from these technologies. Engaging employees in the process of AI implementation fosters a sense of ownership and reduces fears associated with automation.

The session allowed us to discuss how a people-centric approach in the context of AI-driven transformation also promotes ethical and responsible AI practices. It encourages organisations to consider the societal implications of AI and ensures that it aligns with the company’s values and mission. In this way, people change not only enhances the success of AI integration but also contributes to a more inclusive, responsible, and sustainable transformation process.

 

A NEW HYBRID WORKFORCE

Managers in the future will find themselves overseeing a dynamic hybrid workforce of both human employees and artificial intelligence. This shift will necessitate the acquisition of new skills to effectively lead and optimise the collaboration between these diverse elements.

As technology continues to evolve, they must be quick to learn and adapt to new tools and systems, ensuring they can effectively guide their teams in an ever-evolving digital landscape. A strong emphasis on empathy and emotional intelligence will be crucial in understanding and addressing the unique needs and challenges of both human and AI team members.

 

LET AI SUPPORT US, NOT CONTROL US

While AI can offer invaluable insights and automate processes, it should serve as a tool to support human decision-making rather than dictate it. We must recognise that AI operates based on the data it has been trained on, which may not always capture the full context or nuance of a situation. This underscores the importance of human judgement in complex decision-making scenarios. We should use AI as a complement to human expertise, allowing it to enhance our capabilities rather than replace them.

In summary, while AI has the potential to revolutionise decision-making and streamline processes, we must approach it with a cautious and vigilant mindset. Let AI be a valuable assistant, amplifying human capabilities and insights, but always remember that the final say should rest with us, ensuring that we retain control over our actions and decisions.

 

FINAL THOUGHTS

So, what did we learn from this great session with James? The most important emphasis was the importance of incorporating people-centric change, especially with AI involved. Engaging our people in the implementation of AI will foster a sense of ownership and reduce concerns around automation. We will see the need for managers to adapt to overseeing a hybrid workforce of both humans and AI, underscoring the importance of empathy and emotional intelligence in managing this diverse team. Ultimately, AI is a supportive tool rather than something we should allow to make decisions for us. Human judgement in complex situations will forever be of continued importance, especially when considering our customers, our people and our values.

 

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Kieran Wright
Written by Kieran Wright
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