3 secrets to master the automation and AI revolution

ILLUSTRATION BY RUTH MACAPAGAL

The world of work is changing rapidly, and automation and artificial intelligence (AI) are at the forefront of this transformation. These technologies are altering the employment landscape. Some experts predict that up to 50 percent of current jobs could be automated in the coming years.

I still remember my early meetings at the Google Headquarters in Silicon Valley in 2009 with the founder of Google Earth and other top Google executives. When I returned there a few weeks later to deliver my keynote in the famous “Google Tech Talk” series, I remember discussing AI with Google executives and its enormous implications for the workplace worldwide. Now this has become a reality.

In my keynotes around the world as a “Silicon Valley expert,” as the leading German information technology congress has called me, and in my interactions with tech leaders from Google to SAP, I have always emphasized how important it is to stay ahead of your competition by constantly obsessing about innovation.

In this article, I will explore the impact of automation and AI on the future of work and offer insights into how business owners, CEOs and businesses can navigate this rapidly changing landscape.

Navigating the future of work

The key to navigating the future of work is embracing the opportunities offered by automation and AI while being prepared for the potential impact on jobs. This means developing new skills and embracing lifelong learning so workers can remain competitive in the job market.

One area of focus for workers should be the development of so-called “soft skills” such as creativity, problem-solving and emotional intelligence. These are areas where automation and AI are not yet able to match the capabilities of human workers. Developing these skills can help individuals to remain competitive in the job market.

Businesses also have a role to play in navigating the future of work. They can invest in training and development programs to help employees acquire the skills they need to remain competitive in the job market. They can also embrace new technologies and automation to improve efficiency and productivity while being mindful of the potential impact on jobs.

Impact on different industries

Automation and AI are having an impact across a wide range of industries, from health care to retail. In health care, AI improves diagnosis and treatment while reducing costs. In retail, automation is being used to improve the shopping experience for customers with technologies such as self-checkout systems and automated inventory management.

However, not all industries are experiencing the same level of disruption from automation and AI. Some industries, such as finance and insurance, are likely to see a more significant impact from automation than others. In these industries, routine tasks such as data entry and analysis are likely to be automated, leading to a shift in the types of jobs available.

Preparing for the future

As the impact of automation and AI continues to grow, individuals and businesses need to be prepared for the changes ahead. This means developing new skills, embracing new technologies and being open to new opportunities.

A critical step for individuals is to embrace lifelong learning, and seek out training and development opportunities. This can help individuals to remain competitive in the job market and to adapt to new roles and industries as the employment landscape evolves.

For businesses, it’s essential to invest in training and development programs to help their employees acquire the skills they need to remain competitive. They can also embrace new technologies and automation to improve efficiency and productivity while being mindful of the potential impact on jobs.

3 Practical steps for top executives, CEOs and business owners

As the employment landscape shifts due to automation and AI, top executives, business owners and CEOs must navigate this rapidly changing landscape. Here are some practical instructions to help you prepare for the future of work:

1. Build a culture of learning, innovation and experimentation

To stay ahead in the rapidly changing work landscape, businesses must create a learning and innovation culture. This means encouraging employees to embrace new technologies, take risks, experiment and learn from failures. Encourage employees to work collaboratively with automation and AI. Offer employee input and feedback opportunities to help them feel valued and engaged.

It’s essential to identify the skills that will be in demand in the future and provide training for employees to acquire them. Businesses can provide internal training programs and offer on-the-job training to upskill and reskill employees.

Google is well-known for its innovative and experimental culture. The company encourages its employees to take risks, try new things and learn from failures. Google offers various learning opportunities for its employees, including internal training programs, industry events and innovation labs. By fostering a culture of learning and innovation, Google has become a tech industry leader and continues attracting top talent.

2. Attract top talent: Focus on soft skills and embrace flexibility

Emphasize soft skills such as creativity, critical thinking and emotional intelligence. Provide opportunities for employees to develop these skills, and hire and train employees for these skills.

With the rise of automation and AI, the traditional 9 a.m. to 5 p.m. work schedule is becoming less common. Businesses should embrace flexibility in the workplace, allowing employees to work remotely, with flexible hours or on a project basis. This can help companies attract and retain top talent, increase productivity and reduce costs associated with maintaining a physical office.

Social media management platform Buffer, for example, offers flexible hours, allowing employees to work when they are most productive. By embracing flexibility, Buffer has been able to attract top talent, and improve employee satisfaction and productivity.

3. Develop a strategy for managing the human-AI interface

As businesses increasingly adopt automation and AI, there will be a growing need to manage the interface between humans and machines. This means developing a strategy for how humans and AI will work together in the workplace. It’s crucial to design efficient and effective processes while also ensuring that employees are comfortable and confident in working with new technologies.

We have seen that this is a crucial challenge for most businesses in the region and globally. Most do not know or understand yet how to properly integrate AI into their processes and how to manage human-AI interaction. The businesses that will address this the fastest will have a critical competitive advantage. Here, external experts and consultants can help.

By following these practical instructions, you can prepare your business for the future of work and thrive in a rapidly changing landscape. INQ

Tom Oliver, a “global management guru” (Bloomberg), is the chair of The Tom Oliver Group, the trusted advisor and counselor to many of the world’s most influential family businesses, medium-sized enterprises, market leaders and global conglomerates. For more information and inquiries: www.TomOliverGroup.com or email [email protected].