In today’s rapidity evolving business landscape, the integration of Artificial Intelligence (AI) into leadership practices has become not just an option but a necessity. AI’s transformative capabilities are reshaping how leaders make decision, enhance productivity, and foster innovation within their organizations. However, with the rapid pace of technological advancement, leaders must also staying vigilant about its ethical, safety, and privacy implications. In this era of AI-powered leadership, staying ahead requires embracing the technology as a valuable ally, understanding its limitations, and harnessing its potential while ensuring ethical and responsible implementation.
To understand more about this transformative industry, we heard from one of. our leading speakers who focuses on Digital Advancement and AI, Katie King.
“Timing is crucial in terms of when to adopt new tech.”
When it comes to Technological Vigilance, what are some important actions that leaders should be taking?
“The Fourth Industrial Revolution is forcing leaders to prepare for transformative changes as technology such as Artificial Intelligence (AI) disrupts operations across all industry sectors, and impacts every business function, from marketing and sales to HR and finance.
Technological Vigilance is essential, and boards need to adresse its complexity. Above all, leaders need to take a strategic approach; one which takes into consideration the competitive landscape. Timing is crucial in terms of when to adopt new tech. This is linked to the strategic decision regarding a company’s position as as innovator or a laggard, and again hinges on external factors.
Ethical, safety and privacy concerns also need to be high on the agenda. For example, legal. counsel need to protect marketing teams from violating copyright when using tools such as ChatGPT.”
Do you sense a genuine willingness among companies and leaders to grasp and harness AI, or do you believe there’s a prevailing notion that AI is merely a passing trend?
“Over the past year Generative AI has been a game changer in terms of awareness and acceptance of technology such as AI. Worldwide, consultancies such as McKinsey believe that Generative AI is poised to unleash the next wave of productivity, unlocking trillions of dollars in value across sectors from banking to life sciences. For this reason, companies and leaders no longer believe that AI is a passing trend. However, there is still fear about privacy and ethics, and AI’s potential to automate many human tasks.”
If leaders don’t stay vigilant about artificial intelligence and technology as a whole, do you think they’re likely to find themselves falling behind?
As I illustrated via multiple case studies in my second book on AI vigilance around tech such as AI is essential. Otherwise, leaders and their companies will fall behind and their market share will be eroded dramatically. They will miss out on productivity gains, but also, crucially, they will not have the tools they require to gain detailed insights about their clients needs. AI’s potential for CX, marketing and sales is enabling organisations to differentiate themselves from competitors and stay close to their staff and their clients.
Is there something you feel we should avoid getting AI involved in?
I prefer to use the term Augmented Intelligence rather than artificial intelligence. What this means in essence is big data: insights on every aspect of a leader’s business. However, it is the leader who needs to create the brief to understand the problem to be solved and what data is needed. Once the data is gathered, leaders and their teams need to derive insights from it and take action. AI cannot do this.
It is therefore essential to have a human in the loop across every aspect of AI. Emotional intelligence (EQ) is a key differentiating factor that makes humans relevant in the workplace. AI scores low on mimicking human intelligence because it lacks the deep understanding of the human experience, and of pain and suffering. Roles and decisions that require this cannot be replaced by AI.
