Last week, I attended a talk on driving growth through AI innovation. While I gained valuable insights across B2B enterprise sales strategy, leadership, and the challenges founders face, I noticed that amid all the excitement about AI's promise, there's a consistent gap in discussions about managing its implementation beyond the sale.
While there's both excitement and hand wringing about AI and its impact on the workforce, practical discussions about managing it are scarce. A 2023 PwC survey found that while 76% of UK business leaders believe AI will significantly change the way they do business in the next 3-5 years, only 31% have a plan to address the potential impacts on their workforce. This stark gap between awareness and preparedness is a clarion call to action for organisations and tech companies alike.
Reflecting on this, I'm reminded of past technological shifts. In my early 2000s below-the-line marketing days, we faced the challenge of getting people on board with the internet. There was dismissiveness and distrust of its potential, requiring us to prove its worth. Later, I would encounter similar resistance when introducing new media to colleagues, journalists, and clients, often with considerable pushback and the need for extensive show and tell.
However, the AI revolution presents unique challenges compared to these previous shifts. The pace of change is unprecedented and the potential for disruption is deep. Unlike the internet or social media, AI can make decisions and perform tasks that were once exclusively in the human's domain. This fundamental shift requires a new level of preparedness and adaptability from organisations.
As we become immersed in the fourth industrial revolution, people and companies can no longer cling to their comfort zones or resist change. While they may try, reality won't afford them this luxury. I see an impending inflection point which, without careful management, will profoundly impact the way people work and cause serious business (and life) continuity issues.
To address this, proactive consultation and planning need to take place within organisations. Tech companies also need to realise that it's in their interest to play a meaningful part in fostering responsible change management, as part of their business development and customer success functions. Likewise, it would be remiss of professional individuals if they weren't asking questions of their management and sticking up their hand to offer input where possible. Without opening up these conversations, significant risks emerge for talent, organisations, and technology suppliers alike.
The stakes are high. McKinsey estimates that AI could deliver additional economic output of around $13 trillion by 2030, but only if it's implemented effectively. Yet, a 2023 survey by Boston Consulting Group found that while 94% of companies are actively piloting or implementing AI, only 22% have successfully scaled AI to achieve a meaningful bottom-line impact. This gap underscores the critical importance of effective implementation strategies.
What lies ahead? I see three general scenarios:
The Good
- Employees embrace augmented job descriptions with upskilling opportunities and clear professional growth paths
- Organisation leverages technology with engaged workforce, driving innovation and competitive advantage
- Tech company achieves successful case studies, positive word-of-mouth, and market expansion
The Bad
- Employees struggle with poorly defined roles and limited upskilling opportunities
- Organisation fails to realize technology benefits due to disconnected workforce and slower adoption
- Tech company faces defensive positioning with underwhelming client results
The Ugly
- Employees face obsolete skills, potential redundancy, widespread fear, and high turnover
- Organisation experiences severe disruption, productivity losses, and reputational damage
- Tech company confronts crisis with legal challenges, negative press, and collapsed client retention
Meredith Carson
6 August 2024
