Today's enterprises must integrate AI into their business strategies.
Why it matters: "The question is no longer whether you will adopt AI, but how quickly and effectively you can use it," states Geeta Banda, head of outbound product management for data and analytics at Google Cloud.
- According to McKinsey, AI is expected to boost US productivity growth by 1.5% annually over the next ten years.
- However, to capitalize on this growth, businesses must adopt a new approach to maximizing their return on investment (ROI).
Between the lines: Google Cloud believes that many companies are attempting to build AI on flawed foundations.
- They often refer to data locked in silos, but the problem also extends to human resources.
- There is considerable anxiety about AI, similar to concerns about social media, email overload, and Zoom fatigue.
- The reasons for this anxiety are multifaceted.
- One significant concern is the fear of job displacement.
- The Pew Research Center found that nearly half of the more than 5,000 US workers surveyed were concerned about the future impact of AI in the workplace.
Context: One-third of those individuals believe AI will lead to fewer job opportunities and feel overwhelmed by the changes occurring.
- Despite the narrative that AI will create more opportunities, companies continue to reinforce these fears.
- This often stems from AI initiatives that lack proper training, misguided information from vendors, and inadequate executive support.
Zoom in: A surprising benefit of sound Enterprise AI deployment is the positive impact on destructive work habits.
- Research conducted by Boston College over a six-month trial involving 2,896 employees across 141 organizations found that employees tend to be more productive and experience less fatigue when they reduce their working hours by eight hours per week.
- The researchers concluded that this reduction in hours led to increased motivation at work.
Catch up quick: Recognizing the risks of inaction is the first step toward progress.
- The second, more crucial step is to implement a structured plan aimed at building a workforce that is prepared for the impact of AI.
- A successful AI transformation stems from a deliberate and sustained investment in training and development.
Go deeper: All the problems with Enterprise AI can be traced back to people and data. A comprehensive training program, like those offered by Todd Moses & Co., can help eliminate most of these problems.
