According to a recent research, Artificial Intelligence is contributing to a transformation of society happening “ten times faster and at 300 times the scale, or roughly 3,000 times the impact” of the Industrial Revolution. You can now calculate the speed at which industry today is adapting and transforming to this technology – AI.
The signs of that transformation are already all around us – Amazon recommends your next favourite book; Alexa tells you the weather; Netflix cues up your evening’s TV viewing; Siri will play you your favourite songs. As AI permeates the workplace, it’s imperative that companies across every industry starts thinking about what an AI-powered business means to them. As we begin preparing for the intelligent workplace, these questions will help us understand this new era of AI:
How will AI impact business operations and strategy in the next few years?
Artificial intelligence has the capacity to completely upend existing business planning, job roles, interdepartmental relationships, workflows and corporate strategies. Artificial Intelligence drives huge questions around a business’ competitive environment, supply chain, and entire business model. As AI technology matures, how quickly will companies be able to react and roll out new strategies fit for an entirely new world will determine its survival.
How will AI change the customer experience?
We live in a world where customers increasingly expect an immediate response to their queries, and demand 1:1 conversation with companies. It’s perhaps a relief to read that Gartner predicts that by 2020, 85% of customer interactions will be managed by AI. Yet anyone who has had to navigate an automated customer service line can confirm that non-human ‘customer interaction’ can leave a lot to be desired. How will AI impact the customer experience? Equally, how will new platforms enabled by AI – like voice and augmented intelligence – begin to change the way customers interact with companies is an important ask when considering customer experience.
How will AI affect employees and how can companies help hire and train accordingly?
80% of executives believe AI will improve worker performance and create jobs. But an influential 2013 study finds that 47% of workers in the US alone have jobs at high risk of automation. Artificial Intelligence is sure to change the employment landscape drastically, and it’s essential that CEOs think seriously about how that change will impact the employees they manage. How will job roles change? Where will the next war for talent be fought? How should training and development evolve when considering impact of AI on job roles today.