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So, this AI stuff… how can your business benefit?

How can businesses make the most of the AI boom?

Informed by insights from KPMG research, this Wall Street Journal article highlights the continued need for businesses to understand where to target value to be derived through the use of AI technology. Value is created from many sources including revenue growth, margin expansion, better operating leverage to name a few. The focus on answering where technology can be used to target and realize value is not new, the realization that AI driven value creation can come from more than productivity gains is encouraging and the questions to be answered by each company is where should we use this technology to improve and how.

Why is this picture blurry [Read on to find out!] How will creative work be impacted by #ArtificialIntelligence (#AI)? -- ask Shane Schweitzer and David De Cremer in this Harvard Business Review article. Industry thought leaders are understandably optimistic about its potential. Much of this optimism hinges on the claim that, because of AI’s ability to learn from vast amounts of data and maximize efficiency, humans working with it will be able to free up their time and expand their creative efforts, thereby driving greater innovation. Rather than assuming that AI will enable humans to focus on the creative side of the job by default, leaders need to account for organizational reality — and how algorithmic tools change their ability to assess performance. In most organizations, it is top management’s perception of who has creative potential that dictates which teams will receive support from the top to pursue innovative endeavors. In their research, the authors found that leaders’ assessment of creative potential declined when AI managed part of their work process. If that’s the case, then these tools will actually end up hurting employees’ ability to be creative and drive innovation. Whoa! Click below to read more on these insightful findings! Really? Is this really how adopting AI tools will play out? To answer this question, the authors ran a series of experiments to test one way algorithmic tools changed the consideration and resources workers were given for creative and innovative work. Their results suggest that these tools — specifically, the algorithmic tools that oversee employee productivity — could actually undercut employees’ ability to do this work, and that companies that deploy these tools haphazardly could find their optimism souring. In closing, the authors suggest -- based on their findings -- a double-bind for algorithmic management: -- employees don’t like it, and -- managers view these employees in a less favorable light. Even though the newest AI technologies are exciting and may improve organizational practices, they will only benefit your company in the long run if you carefully consider the ways it could also negatively impact the workforce and organizational practices generally. So there! #HR #Management #Workforce #AI #GenAI https://lnkd.in/gGWg9dMS

With $38.8 billion spend on generative AI in 2024 (IDC), leadership are looking for more than efficiency gains to actual dollars and cents, even as many admit it isn’t clear if and when they’ll start seeing them. Maybe a taboo subject, but a good debate . . . #generativeAI #digitaltransformation #revenuegeneration #efficiency https://lnkd.in/ddy8eBZj

I recently had the chance to sit down with Isabelle Bousquette from The Wall Street Journal where we discussed the evolving landscape of #GenAI and its impact on business. As technology leaders, we are at a pivotal moment where the emphasis is shifting from efficiency gains to tangible revenue generation. At Principal Financial Group, piloting cutting-edge solutions has given us valuable insights into what it will take to successfully scale AI across our operations. We understand that the journey from pilot projects to full-scale AI implementation can be complex and requires us to continuously evolve our #strategy. But as we do so, our goal remains unchanged -leveraging technology to enhance the experiences we provide to our customers.   The possibilities that generative AI opens up are nothing short of exciting. We're committed to turning that potential into real results by strategically applying these emerging tools.   Read more on the conversation below 👇 https://lnkd.in/gGTYHHBZ

AI is reshaping work as we know it. Just as the pre-PC era now seems unimaginable, soon we'll wonder how we ever worked without AI. Explore the article to dive deep into the findings: ✨ Employees want AI at work—and they won’t wait for companies to catch up. ✨Employees want AI at work—and they won’t wait for companies to catch up. ✨ The rise of the AI power user—and what they reveal about the future.

“As more employees eye a career move, managers say AI aptitude could rival experience. For many employees, AI will raise the bar but break the career ceiling.” Check out this ‘hot off the press’ Microsoft worklab report (in partnership with LinkedIn) looking into the latest AI work trends #futureofwork #ai #careers #copilot

AI at Work is quickly becoming a differentiator for companies, impacting how they are perceived by their customers and prospective employees.

The biggest threat to organizations is AI inertia. --- Some golden nuggets dropped by Satya Nadella and Microsoft this morning. While most leaders agree AI is a necessity, the pressure to show immediate ROI is making leaders move slowly. - 79% of leaders agree their company needs to adopt AI to stay competitive, but 59% worry about quantifying the productivity gains of AI. - This uncertainty is stalling vision: 60% of leaders worry their organization’s leadership lacks a plan and vision to implement AI. We've all likely read this HBR interview with Karim Lakhani by now: "AI Won’t Replace Humans — But Humans With AI Will Replace Humans Without AI" https://lnkd.in/gZnM7CaR This is true even for organizations, those who lead with an AI-first culture will replace the ones that don't. --- This is akin to measuring ROI for employee training and upskilling. If you can't definitively measure ROI for upskilling, should you not upskill your employees?