Automation and algorithms are most effective if they’re used in collaboration with human insights and creativity.
Artificial intelligence is here – but businesses have barely scratched the surface of impact it can have. Instead of supercharging their growth, some companies get stuck with proof-of-concept experiments that end up going nowhere – but the right company culture can inspire, build and empower a workforce fit for the AI age.
While the “how” remains a challenge, the emerging problems are actually the “why” and the “who”. Leaders see attracting the right talent and competing investment priorities as the two top barriers to AI adoption. Both could be overcome by focusing on finding value and creating real-world outcomes from technology projects.
Stuffing businesses full of data scientists is not the right approach. Instead, leaders must encourage employees to recognize opportunities to apply AI. It’s a collaboration between people who have the business acumen or understanding of the market, and the data scientists and AI people building it”.
Balancing investment priorities means making smart choices about developing deep expertise and off-the-shelf solutions. Today’s big tech players including Google, Amazon, Huawei and Microsoft allow third parties to plug in to AI systems of their own creation.
It is not jus the people building these systems that have to be ready for AI. Of the 58 million jobs that the world economic forum predicts will be generated by increasing automation by 2022, nine of the top ten new roles will be tied to harnessing machine learning. But this increased automation has the potential to make us more human as long as the companies re-skill their workforce when necessary. “The machines are taking away a lot of the work” where people can focus on what the value add is”.
Actual robots can do work so that these people who typically have very high qualifications in finance can start thinking about the next regulation, what the best financial model is for the company and things like that.
AI will shift us into an era where the people who get ahead are those who can join up the dots and, freed up from the burden of tasks, spot new opportunities.