There is a lot of buzz around
Artificial Intelligence (AI) these days. The term was first coined by American computer scientist, Jay McCartney in 1956. AI can be defined as a machine with the ability to solve problems that are done by humans with their natural intelligence. AI is a broad area of computer science that makes machines seem like they have
human intelligence. There are many factors responsible for the rapid development of AI which includes a huge amount of data being generated every minute, advances in processing speeds of computers, etc. As AI enters in the workplace, corporate leaders require contemporary skills to advance to the challenges and opportunities presented by this disruptive technology.
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Organizations have reshaped themselves drastically over the past few decades. Artificial Intelligence or AI has helped to transfigure management, and managers at all levels need to acclimatize to the world of smart machines. There is a requirement of new corporate leaders who comprehend and acknowledge AI and its influence on actions and decisions. At the same time, existing leaders need to understand and modify their organization, and decisions to AI-driven mechanisms.
The mangers across all levels spend a good amount of time on administration control and coordination. According to a survey by Harvard Business Review, managers spend 54% time on these tasks. AI can automate most of these tasks. For example, websites like Kono act as scheduling assistant for managers. Strategies help in automating project report. This allows managers to focus more on high-value activities and judgment - oriented skills of innovating thinking, reasoning, experimentation, strategy development etc. It is improbable that human judgment can be automated in the near future; these intelligent machines can support decision support and data-driven simulations.
Artificial Intelligence can assist managers to enhance team dynamics by providing more appropriate feedback to group members and raising team accountability. With the use of natural language processing and software, AI can recognize who needs constructive feedback and let the manager know or even provide the feedback. It can also highlight who needs more training and prepare a fact-filled one-on-one meeting plan for the manager and employee.
It is expected that with AI, the corporate ladder will transform into corporate lattice which will allow aspiring employees to move and progress sideways and tap into new networks. This will also allow today’s Gen Y to work with more freedom and flexibility.
According to a study conducted by Deloitte, AI is not eliminating jobs, it is eliminating tasks of jobs and creating new jobs, and the new jobs that are being created are more human jobs. The leaders in the business world need to put greater importance on cultural fit and adaptability as the distinct roles and responsibilities will evolve along with the execution of artificial intelligence. To adapt to changing technologies, the managers need to move away from tradition mechanistic organizational structure to multidisciplinary teams. As AI becomes more advanced and becomes part of business, leaders will require comprehending where to place human employees, which jobs are suited for machines and which can be done by a combination of both to achieve maximum efficiency.
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One of the important aspects of leadership is to select the right team. This is one of the areas where the human element cannot be removed. For example, consider dating sites where AI takes a pool of people to determine who the perfect match should be. Often, AI will get this wrong and relationships won’t work. This is no disparate than working relationships, where the manager needs to build a team where people not only get together but are also able to challenge each other to bring out the best results. In short, AI has the potential to take over technical and administrative aspects of the work, but when it comes to authority and motivation, the human factors cannot be removed.
