It’s difficult to imagine any business leader not yet open to the transformative possibilities of Generative AI. Most will already be exploring the potential or investing in it, to varying degrees.
But what impact is it having on employees and what exactly is the role of CEOs and HR heads in leading their people through this fast-evolving landscape of seemingly infinite opportunities and risks?
So far, the most cautious adopters have dipped their toes in, primarily viewing Generative AI as a tool for streamlining operations – summarising content, reducing human workforces, cutting costs. One analyst described this limited approach as an Ozempic-style organisational weight loss programme.
While that might make for a prettier bottom line in the short run, now is the time for beefing up, not slimming down. Underweight organisations will not have the agility, growth mindset or adaptive workforce to identify and seize the burgeoning AI-led opportunities to enhance, augment and strengthen their position, brand and future-focused growth and customer experience development.
There are few sectors, functions or roles that will not be affected by this revolution. Employers told a 2023 World Economic Forum survey they expect just under half of workers’ skills to be disrupted within five years. As GenAI develops at exponential speed, that estimate is looking highly conservative.
That means that companies of all sizes must prioritise their people to build agility and rapid learning systems into their business models.
How can CEOs and people leaders ensure they are priming their workforces to help them make the best uses of AI at the right time, pace and scale while minimising the risks?
Know when to automate and when to augment:
Generative AI is transforming workforces but not exactly in the way doomsayers had forecast. Yes, many roles will be displaced in the face of Gen AI’s ability to create content, code, marketing tools, conversational chatbots and data-driven insights.
The real transformative power of Generative AI, however, lies in both its accessibility – the open model means anyone who can write a question can use it – and its capacity to upskill and augment the work of humans.
Some forecasters predict that AI will do most jobs better, faster and cheaper. What does that mean for human workers?
Take the example of chatbots. They may replace the front line of call centre agents now that natural language processing has made their conversational skills so much more sophisticated. However, their true value comes in the augmentation of bot and human. The bot can undertake the dull, repetitive tasks and work the unsocial hours while enhancing the experience of both the employee and customer. It can share personalised information and offers with the customer while enriching the data available to the human agent based on the customer’s history, wider trends and probabilities to guide the agent towards a conversation or transaction that satisfies all parties, whether through resolution of an issue or a sale.
If used properly, with training and guardrails, Generative AI can act as a highly informed and incredibly efficient co-pilot for almost all employees involved in work that involves using a computer or Smartphone which is why they all need to be confidently and actively engaged in the ongoing disruptive process affecting how work will be completed in the future .
Transforming your business model
This starts with investment in a Chief Data Office and/or a Chief Automation Officer or similar who can oversee the organisation’s customer and AI-based transformation, working closely with all c-suite leaders and especially the CEO to ensure that use and assimilation of new platforms, applications and processes are aligned with strategic objectives both in the short, medium and long term. End uses need to be defined in terms of cost and objective and ways to measure ROI identified; projects should be piloted before being scaled up and disrupted employees need to be fully informed and prepared. The CDO/CAO will also be accountable for a robust data governance and adaptive regulation-adherent framework to minimise and mitigate inherent risks around AI such as data compliance, inaccuracy, poor data, security, privacy issues and intellectual property. They should also ensure a safe data-sharing mechanism to ensure insights, content generation and strategic scaling up of AI-powered projects are based on the most up to date, clean and complete datasets available.
Larger companies may wish to create a whole new ecosystem of data-trained leaders to ensure all teams are using their technology safely and effectively and to share data and insights vertically and horizontally.
Workforce optimisation
The CEO and people leaders will also need to work with the CDO/CAO to ensure processes are in place to constantly review their workforce’s skillbase and ensure staff are equipped, not just for the demands of 2024 or even the next fiscal year, but in alignment with strategic priorities for the known mid/long term
One way to do this is to leverage predictive analytics and data analytics to audit the workforce and identify functions , teams and even individuals who could increase their value – and job satisfaction – through upskilling.
Platforms including Gen AI-driven CRMs (customer relationship management systems) such as Salesforce Einstein have capabilities to create dynamic, upskilled workforces, identifying need and responding with personalised training or career advancement opportunities. This keeps the workforce agile and adaptable.
Introduce new skills
Generative AI’s potential for positive disruption depends on the quality of the data that goes in and the prompts used to extract insights. Employees who use it do not need to be data scientists, such is the beauty of the open model. However, the clearer and more refined their prompts, the greater the value of the Gen-AI insights that will enhance their productivity, efficiency and quality of work.
Those who upload clean data with an understanding of how that might be used will also add great value to their everyday work.
The more of this type of training provided to the workforce, the greater the ROI and employee satisfaction, creating skilled, stable, adaptable workforces, minimising attrition and attracting the best and most relevant talent. According to a PwC survey, two thirds of jobseekers considered a company’s use of cutting-edge technology when deciding where to apply. If they are looking for good use of AI, chances are they will come with a pro-tech attitude, willingness to learn and a level of skill.
Soft skills crucial to AI-based transformation such as adaptability, problem-solving, abstract thinking, creativity and empathy can be harder to teach. These are some of the skills employers should be looking for in new recruits if they are struggling to embed them into the existing workforce to fill the gaps and promote cultural change.
Foster trust to build resilience
While some employees, especially those trained in technology or science or younger recruits who have grown up around it, may embrace any opportunity to augment their own work with AI, there are sections of the workforce who may be more intimidated by technology and fearful of such a fast pace of change and the possible impact on their own careers.
Trust needs to be built from the top down to reduce these concerns. Offer flexible, human-centred training – not just digital – and ensure total transparency. Dispensing of teams or individuals whose jobs can be automated will have an unsettling ripple effect across your whole organisation.
The staff affected need a special type of transition assistance which guarantees to work with them until a new future is secure. This is an enhanced brand of transition support which only Rialto so far are pioneering globally.
Ensure any restructuring is designed openly, fairly, and with kindness. Explain the reasoning to the whole workforce and ensure they feel valued and understand the necessity and future value created by introducing technology, the security and opportunities for growth and, if you are able, explain that you are or will be offering upskilling to all employees who will be working alongside AI in the future. Open a dialogue, invite questions and answer them as honestly as possible.
Ideally, this should come directly from the CEO. Vacuums in knowledge will be filled by mistrust and misinformation. Take control of the messaging around AI, working closely with your operations and HR leaders.
We are only just starting to understand the true transformative potential of Gen AI. It’s no longer sufficient for CEOs and other c-suite executives to delegate responsibility for IT software and systems. They need to understand what is happening now, what is on the horizon and lead from the front, with compassion, confidence and strategic acumen.
If you require professional, structured support from our experienced team of AI, change and transition management experts, or would like to develop a greater personal understanding of Generative AI, its capabilities and risks, do get in touch.
