Insights Into Navigating the New Frontier of Leadership
The digital business landscape is forever changing, particularly in the age of AI, where information that once took hours—or even days—to compose is now available in seconds.
Rather than replacing human leadership, artificial intelligence has proven to be an ally to leaders, fostering innovation, enhancing communication, and improving teams. Leaders who embrace the new age of AI keep their teams ahead of the curve, ensuring success in the modern world.
Why is AI Important to L&D?
Today, leaders are confronted with a new set of challenges, a reflection of the dynamic economic and technological landscape. The modern workplace demands leaders to focus on new skills to navigate the shifting terrain of business, adapt to changing circumstances, and achieve objectives.
The nature of leadership roles has undergone a significant transformation, largely driven by advances in technology, automation, and artificial intelligence (AI). Recent findings gathered by Forbes conclude that:
- AI is expected to contribute a 21% net increase to the United States GDP by 2030, showcasing its impact on economic growth.
- A significant 64% of businesses believe that artificial intelligence will help increase their overall productivity, as revealed in a Forbes Advisor survey. This demonstrates the growing confidence in AI’s potential to transform business operations.
- According to World Economic Forum research, AI is projected to create around 97 million new jobs, potentially countering workforce displacement concerns.
- Over 60% of business owners believe AI will increase productivity. Specifically, 64% stated that AI would improve business productivity, and 42% believe it will streamline job processes.
Jobs have shifted towards more nuanced responsibilities that require the uniquely human abilities that computers cannot replicate. This shift has created an opportunity for leaders to integrate this new technology into their everyday workflow, streamlining tasks and operations that otherwise occupied a substantial portion of their responsibilities. AI can be implemented into processes such as:
Talent Acquisition: The once mundane tasks of scrolling through dozens of resumes can be a thing of the past with artificial intelligence. AI-powered algorithms can now scan and analyze many resumes quickly, identifying candidates who meet specific criteria or whose resumes reflect essential skills, qualifications, and keywords identified by the moderator. This process reduces the time spent on manual resume screening and ensures a more comprehensive overview of applicants.
However, as with any use of AI or algorithmic-based tools, it is important for HR Leaders to ensure they are not unintentionally building biases into their decision-making process by being willing to perform a bias audit, if required by law, or by best practices, or by using a software that continually audits for bias, or by avoiding using search terms that could result in an unintentional bias.
Communication Enhancement: In larger organizations where HR professionals receive common employee inquiries daily, AI-powered chatbots can answer common employee queries and provide quick access to information about company policies, procedures, and resources. While not foolproof, using AI to guide employees can reduce the burden on HR and administrative teams, leaving more time for other essential tasks.
What is particularly exciting—in global organizations, AI-driven translation tools can break down language barriers, allowing leaders to communicate effectively with team members from diverse backgrounds. Language challenges are easier to overcome using AI, which can translate in real-time through various communication methods, even video calls. For leaders, this is essential for both internal communications between colleagues and international relations with potential clients.
Innovation: Stuck in a creative rut? AI-powered tools can assist brainstorming sessions by providing inspiration and even suggesting out-of-the-box ideas that a team might have overlooked. By analyzing data and new market trends, AI can also suggest areas for innovation specific to a particular company and industry. For teams further along in the creative process, AI can assist in generating design prototypes, 3D models, and simulations quickly, allowing for faster testing and implementation of concepts.
Analytics: There are only so many markers that humans can use to predict market trends, customer behavior, and future challenges. In recent years, AI-driven predictive software has proven more accurate due to its ability to scour the internet in seconds to gather data. Leaders can harness insights gathered by AI like this to adjust their strategies and stay ahead of the competition. This data can then be transformed into a visual format using AI to create charts, graphs, and dashboards.
While not a replacement for leadership, AI is powerful tool to enhance leadership capabilities. By leveraging AI for talent acquisition, communication enhancement, innovation, and analytics, leaders can make farther—and faster—strides toward success.
At FlashPoint we offer a variety of professional development solutions that can be facilitated with your team, department, or individually. Our latest open enrollment of The Leadership Challenge® from November 2-3, 2023, uses practical virtual exercises to help you apply The Leadership Challenge® principles to build a personal leadership development plan and to improve your daily actions. For more information and to register, visit our events page!