Jim Steinlage, President & CEO of Choice Solutions
AI-driven processes are positioned to disrupt existing business models in ways little imagined just a few years ago. AI will soon enjoy widespread use to improve quality, speed, and functionality while driving revenue growth. One area that has created some of this demand is employee recruiting, retention, and enhancement. Those expectations have demanded a more innovative and efficient way in the selection of workers as well as delivering a better end user workplace experience to retain them once they are on team.
How did AI come upon us so rapidly and make this possible? It became possible with the coming together of several forces in technology, starting with digital-first firms who use platform strategies to deliver services. It sure has disrupted traditional, product-driven businesses who were cruising along resisting change.
Just a few years ago, the top five firms by market capitalization were two oil companies, a world bank, a retailer (Walm art), and Microsoft. Today, Microsoft is #1 and the other four have been replaced by Amazon, Apple, Google, and Facebook. These digital platforms have achieved market dominance and changed the way people live, work, and play in amazing and significant ways. Three innovative technologies that made this possible are:
- Massive increase in data storage and outsourcing
- Increased processing power
- Ramp-up in cloud computing
Mobility and the availability of bandwidth also make it easier than ever for workers to access apps from anywhere on any type of device at any time of day.
The Shifting Focus of Technology Leadership
Every industry needs to prepare for digital transformation. A majority of IT leaders say they expect to focus more on it in the coming year. HR will be there teaming up with IT as workspace experience plays a vital role in their future talent retention. Unfortunately, many organizations are playing a wait-and-see approach. These organizations are not placing a high enough value on the innovations needed to keep pace with inevitable disruption.
AI-based applications will play an important role in the future of application design and delivery as manufacturers continue to see its value.
- Product applications like Citrix with embedded AI simplifies and increases efficiencies to provide end user benefits and speed of access to their needs.
- Process applications like those used in automated voice response systems from Ring Central will incorporate AI into workflows, automating and improving processes by enhancing worker effectiveness and customer satisfaction.
- Insight applications will use advanced analytical capabilities like machine learning to discover new insights that inform and automate strategic and operational decisions, eliminating man hours and speed of time-to-market for competitive advantages.
AI and the Workforce
The use of AI to automate tasks and increase productivity, efficiency, and morale is well-established as I posted in my October 4, 2019 blog. From leveraging AI to automate developers’ tasks to AI-empowered robots on the assembly line, AI is already an integral part of many workers’ lives. These disruptive innovations should be seen by organizations as an opportunity to reconsider which functions and capabilities will become strategic differentiation in your competitive marketplace.
AI is not just about business opportunities. Leadership must focus on where AI has the potential to disrupt the entire organization or even its entire industry as posted in Citrix Blog by Michelle Senecal de Fonseca, Area VP Citrix for Northern Europe. Sales, Marketing, IT and HR are great places to start collaboration in your organizations.
AI and the Future Regulations and Enforcement
As with many good things, bad can still result as when the power of AI is not properly used. Massive amounts of data being interpreted could lead to people getting hurt in areas of high risk like health care, transportation, and criminal justice, to name a few. The European Commission is expected to be the first with guidelines and stricter regulations with certified systems and to impose restrictions on those who don’t abide.
In the end don’t be the ones in three to five years wishing you had taken the use of AI more seriously as it may be too late by then.