Beyond speculation, the reality is that AI and machine learning technologies are already changing the business world. The transformation has just begun.
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Companies that succeed with AI are those that realign their entire business around technology. Their leaders are looking for ways to incorporate advanced data analytics and automation into marketing, business development, customer service, and almost all other business processes. By making AI a part of their DNA, these companies stand ready to capitalize as they progress.
Of course, implementing AI or any new technology is not without its barriers, especially for companies without in-house expertise. However, early adopters know the technology is still in its infancy and accept the challenges of integration. They know that facing these difficulties now is better than staying aside and missing the opportunities that artificial intelligence will bring in the near future.
If you are a business leader planning your own AI implementation, there are a few steps you can take to minimize short-term challenges and maximize long-term value.
1. Align the use of AI with specific business goals.
Most CEOs agree that technological change is their biggest external challenge now. Unfortunately, many people also lack the knowledge necessary to navigate the rapidly changing technological environment. Therefore, it is essential that today's executives list IT as a core business function. Doing so will make your company more proactive and agile, which will ultimately give you an edge over your competition.
A proactive IT posture will also enable you to determine the company's best AI strategy. Every business is different, but if you know exactly what you are trying to accomplish and clearly understand what AI can achieve, then you will be better able to make decisions, where to start integrating and what you expect from ROI .
2. Turn existing jobs into "super jobs."
Thanks to AI, the skills required to perform various business functions are changing. "A lot of work will be redesigned," said Emily He, Oracle's senior vice president of human capital management. "Many of today's repetitive tasks will be automated through technology." In the past, spending on repetitive tasks The time and energy are being reassigned to higher-level jobs. At the same time, companies are increasingly looking for potential employees who are capable of working with machines.
Business leaders must work with employees to understand how roles will change as AI assumes more workload. Senior managers and human resources must then work together to create job descriptions for these "super positions" to ensure that new hires have the capabilities they need to perform the new job. "Through human resources functions, leadership and employees themselves will be redesigned," He said.
3. Teach your team to use data and AI solutions.
Modern enterprises are currently facing a severe shortage of technical talent, which means that many companies may have to improve the skills of existing employees instead of hiring new ones. Companies interested in integrating AI need to first ensure they have the data and employee expertise to truly benefit from these solutions.
Cultivating internal expertise will give companies a significant competitive advantage. "AI requires a lot of clean, organized data to make decisions, which is lacking in many organizations," said Vince Dawkins, president and CEO of Enertia Software. President and CEO of Enertia Software. Enertia Software is a developer of enterprise solutions for the upstream oil and gas industry. "By training employees to perform these tasks and provide AI with the tools they need to succeed, organizations will gain valuable leadership in AI implementation."
In 2018, the World Economic Forum predicted that artificial intelligence will create 58 million new jobs in the next five years. These jobs inevitably require new skills and new business processes, although no one can determine the future. Don't wait five years to see how artificial intelligence can change your industry. Instead, lead change by making technology part of today's DNA.