9 out of 10 senior management executives have reported positive and tangible business benefits from AI applications.
66% said that leveraging AI technologies for business process automation helped to deliver quick improvements.
– Infosys report on ‘Leadership in the Age of AI.’
Organizational leadership is evolving with changes in technology. Leaders realize that they must adapt to these changes faster. New technologies like Artificial Intelligence (AI) have changed the nature of leadership. The use of robust data analytics grounded in AI and machine learning techniques reveal new insights for business applications. An advanced online degree in organizational leadership can help future managers and leaders navigate the modern dynamics of the corporate landscape.
A Harvard Business Review (HBR) reports that as AI makes more decisions, the nature of leadership will continue to adapt. The purpose of AI is to replace some of the decision-making that fell under the purview of company managers and executives. This will streamline and improve the decision-making processes. A shift in leadership decisions is on the way. With the use of AI, leaders will focus less on the cognitive processing of facts and information. They will focus more on the human aspects like personality characteristics and behaviors. This will help improve the engagement and performance of staff and increase operational efficiencies in order to improve the company's bottom line.
Leadership itself has not changed in the age of robots, machine learning, and AI. Although the use of AI has advanced fast, no computer or robot can replace the critical human functions that define organizational leadership. Humility, character, adaptability, vision, and engagement are all traits identified by HBR as characteristics that robots cannot imitate. Now, data processing will be relegated to computers, leaving interpersonal engagement to executives. They will however, have to stay updated on emerging technologies to make the best use of technology for organizational success.
So, how exactly does AI factor into leadership today?
The competencies for future leaders will focus on faster adaptability than preparing for change. Disruptive technologies are bombarding the world of business. Leaders need to embrace them fast to enhance their leadership skills. AI intervention will help to:
· Analyze data for decision-making
· Monitor team performance and productivity
· Improve the production and services process
A real-life example –
McKinsey and Company article explains one application of AI to a corporate decision-making process. A CEO with a problem reached out to his data analytics team to use AI to answer a few open-ended questions. The analytics team conducted the required analyses, which revealed some previously-hidden trends. These indicated that the communications between the design and engineering departments could use a tune-up. The data analytics team reported back to the CEO with concrete evidence that poor collaboration led to increased cost and a lack of efficiency.
The 2017 Human Resources Professionals Association report stated that 84% of HR professionals believe that AI is a useful tool that will lead to productivity gains. One instance of AI improving the HR processes is the conversational AI recruiting assistant used by Textio, a Seattle-based company. Called Mya, this smart tool helps the team to write more effective job postings and recruiting emails. It improves the hiring process for candidates and recruiters. One large retailer used a similar AI recruiter and experienced a 144% increase in recruiter productivity.
As we can see, AI holds enormous potential for human empowerment. Future leaders can utilize this tool to spot patterns within new and existing data and uncover important insight that can positively impact the bottom line. They can also automate redundant tasks, improve process performance and productivity, and positively impact employee engagement and retention. 21st-century leadership needs advanced training from experts who are at the forefront of these industry changes. Opt for an organizational leadership degree online program that will prepare you with the tools to face these challenges in today’s modern workplace.