Time to Move Deeper – Talking About AI as a Technology

AI to Elevate, Not Replace the Knowledge Worker

AI will have a profound impact on work and workers. However, AI is not here to take all our jobs – it’s here to make us better at them. AI tools are on a mission to make our lives easier, especially for those who embrace the technology and work with it.

And taking a further dive, imagine AI accelerating and improving key tasks like writing custom software code, analyzing/cleaning data, automatically adjusting store orders based on supply disruption, visually identifying products for faster checkout and improved loss prevention, and automating marketing content creation, freeing up our brains for more creativity, better decision-making and better customer service. All of these opportunities are a “WIN” in the technology sphere and will only improve efficiency, innovation, and the overall customer experience in the rapidly advancing digital landscape. The synergy between human intelligence and AI capabilities promises a future where tedious tasks are streamlined, allowing us to focus on what truly matters – ingenuity, strategic thinking, and delivering exceptional value to both businesses and consumers. Take Shopify’s Magic – an AI tool that helps merchants generate product descriptions. The descriptions are tailored to highlight key features, benefits, and unique selling points. This AI-driven generation of product descriptions saves countless hours for retailers and ensures a consistent and engaging narrative, with increased conversion rates.

Economy – More Effort for Modest Growth

Technology has never been more important in business execution and technology change has never moved faster than it is right now, and it’s accelerating.  Most everyone expects flat(ish) growth in 2024, but AI is driving productivity/disruption, interest rates are high(ish), consumers are cautious, no one is very happy with politics right now, company performance has been ok(ish)…seems like a lot of activity (more than ever) to hold status quo financial performance.

Time to Move Beyond DEI and ESG

DEI and ESG – have been the big talk of the town.  However, many companies have marketed big advancements in this space while missing the point. Diversity, equity, and inclusion is about providing real opportunity for all, allowing for the best to be the best regardless of demographics. Environmental, social, and governance is about acting as a responsible citizen to the benefit of our entire world. It’s not enough to appoint people in charge of DEI or ESG, create DEI/ESG policies or talk about how they are important to a company, it’s about actual results. DEI is about creating workplaces where everyone feels at home, and ESG is nudging businesses towards sustainability and rethinking traditional practices, embracing transparency, and specifically for supply chains, it’s integrating sustainability and social responsibility into every link. And, as an added bonus, ESG is positively correlated with better risk management, improved corporate reputation, and increased innovations, as shown in a recent study by Ernst & Young¹. That study also showed that the company with strong ESG performance achieved an average return on investment of 10.4% compared to 7.4% for those with weak ESG performance. It’s a tricky road with challenges, but navigating these complexities is necessary for change.

Leadership in Chaotic Conditions

Here we are, knee deep in these confusing and chaotic times. Leadership is not just about steering the ship; it’s about valuing the human side of things. Research from LinkedIn shows that “leaders who score highly as “human” leaders contribute significant business value by improving retention and increasing employee satisfaction.”² Leaders should be putting their people first, fostering a sense of community and empathy because amid chaos, putting human and community well-being at the forefront is the North Star. In 2024, leadership isn’t just managing change, it’s embracing it.

1. https://www.ey.com/en_uk/public-policy/five-priorities-to-build-trust-in-esg

2. https://www.linkedin.com/pulse/esg-full-speed-age-impactful-leadership-fulya-kocak-gin-leed-fellow-xtzcf/