A recent study considering several C-suite and senior executives across the industry revealed the surprising results.
A new study by global professional services firm Genpact and FORTUNE Knowledge Group, called “Is Your Business AI-Ready?” revealed that the majority of leading artificial intelligence (AI) organisations expect that by the year 2020, their employees will comfortably work alongside robots. However, a number of businesses are still working on reskilling and training their workforce to adapt to the technology disruption. The survey took into consideration several C-suite and senior executives, and shows that there is a major inconsistency between how AI is expected to impact the future of work, and the steps companies are taking to prepare themselves for it.
The study also shows that there was a huge disconnect in the behaviour and performance between AI leaders and those lagging behind in the technology, commonly known as laggards, even in the early days of AI’s enterprise applications. Although 82 percent of the organisations surveyed plan to implement AI-related technologies within the next three years, unless they also implement a comprehensive organizational transformation, the disconnect would only increase further.
N.V. ‘Tiger’ Tyagarajan, president and chief executive officer at Genpact stated that unless organisations train their employees at all levels, encourage the right corporate culture, and embrace the change, they would not be able to reap the rewards of AI in improving customer experience, growing revenue, and creating new jobs.
The resistance and lack of awareness about AI, ironically, is majorly found in senior level management, according to roughly 32 percent of the surveyed organisations, while 13 percent indicated middle management, and 5 percent indicated entry-level employees to be responsible for it.
Security concerns and lack of clarity about application seem to be the biggest obstacles to AI, although leaders in the technology are aware of the need for more than cutting edge technology to overcome them.
71 percent of leaders have invested sufficient resources and funding in AI-related technologies, compared to 9 percent of laggards, while 53 percent of leaders encourage a culture of training and development to help learn new skills, compared to 15 percent of laggards. Additionally, nearly 60 percent of leaders have seen middle managers to be thinking out of the box and encouraging innovation, compared to 14 percent of laggards.
AI leaders have also shown a heavy focus on processes, with two thirds of them having processes and systems which accurately comply with standards of documentation for operational procedures, compared to 20 percent of laggards. 58 percent of them also possess huge amounts of customer data that can be easily shared across all departments, compared to 14 percent of laggards.