AI isn’t the latest technology, it’s a transformative force that will forever change the way we think and work. With responsibility for improving your company’s structure, culture, and processes, AI will be fundamental for your future development strategies – already, AI has been proven to increase productivity by 40%, cut operational costs by 30%, and boost revenue by 20%.
So what should you be thinking about to ensure your organisation can successfully take advantage of the AI revolution?
Strategic Leadership Development
Today, just 1% of organisations claim to have achieved AI maturity. But low adoption rates aren’t down to your employees – on the whole, they’re using AI 3x more than you expect. The barrier to adoption and scaling AI is leadership.
More than other technology advances, AI has evolved at such a rapid pace, it’s difficult to keep up. As a result, nearly two-thirds of leaders (60%) worry they lack a plan or vision of how to implement AI in their workplace.
AI starts with a mindset, not of where it can replace humans, but where it can complement humans to improve efficiency and enhance innovation. For example, if AI can automate mundane, routine tasks, your people can focus on more creative initiatives that require nuanced judgement or decisions that need empathy. Understanding where the balance lies is essential to building a modern workforce.
With the foundations in place, you can then use AI as a support mechanism to help the business grow. For example, because AI is able to process huge volumes of information very quickly, as well as provide recommendations on the outputs, it becomes possible to access personalised insights into every employee’s performance, strengths, and weaknesses. Now you can create bespoke development programmes that align with both the business goals and their personal objectives.
Focus on Change Management
As a relatively new technology, which is evolving at lightning speed, AI is changing everything in its wake. This is naturally unsettling, because people fear what it means for the future. For example, fear of AI taking their job, of data privacy and security, and of tech-driven disruption. Without a clear vision for AI from your leadership team, and effective change management to ensure its successful adoption, this fear can derail the business.
We should never underestimate the importance of soft skills, particularly for leaders. Yes, it’s necessary to have at least a basic understanding of the underlying technology, how it works, and where the best use cases lie. But the critical skills that ensure successful adoption are found in communication, collaboration, critical thinking, stakeholder management, and decision making.
Unless you want your organisation to scrap half of its AI proof-of-concepts before they reach production, it pays to invest in the development of softer skills alongside technical skills.
While the organisation is moving towards AI maturity, there will be a lot of uncertainty – particularly for the non-technically minded. For example, 46% of workers have only started using AI in the last six months, and 4 in 5 jobs will be changed by AI. But when your leaders feel secure in their knowledge, they can provide the assurance employees need to keep the business on track.
Equitable AI implementation
Responsible AI is one of the fastest-growing skills because of the fear that exists around it:
When adopting AI within the organisation, leaders need to appreciate the moral and ethical considerations. For example, being able to spot potential bias, knowing how to challenge outputs, and keeping data and people safe. As well as ensuring the AI is successfully scaled within the business, ethical considerations promote inclusive leadership, which in itself can significantly impact the business:
- 81% more motivated employees
- 83% increase in employee loyalty to their team, leader, and organisation
- 81% boost in performance and productivity
Inclusive leaders are skilled at adapting their style to those around them. They see how to build a diverse pipeline of talent for the organisation. And they understand the need for incremental change. This style of leadership creates inclusive companies, which are 1.7x more likely to be innovation leaders, make better business decisions 2x as fast, and become great places to work with fully engaged employees.
Where to Find Credible AI Education
Leaders are notoriously busy people. Therefore, committing to a traditional training pathway, like a university degree, isn’t going to work. Plus, they’re designed to focus on broader STEM subjects and technical details, rather than the specifics of AI and softer skills.
Clearly, there needs to be a different approach to AI education, and 30% of organisations are relying on non-traditional educational pathways, like online courses and digital credentials.
At Cambridge Spark, we set the gold standard for data and AI education. We’re always first to market with recognised certifications and qualifications to equip your leaders and entire workforce with digital, data, and AI skills. We have a 99.5% pass rate with 70%+ distinction/merit grades compared to an industry average of just 33%. And to date, we have generated £350m+ in ROI for our clients.
Choose our premium executive education programme, “Leading with AI”, to help reimagine your organisation’s future, develop a strategic AI vision, and lead with confidence in the age of AI.
Discover how we can ensure AI has a BIG impact on your business by delivering maximum productivity, enabling you to retain your top talent, and developing a competitive edge.