AI Transforming the Business Landscape: Coaching and Culture
Utilizing AI Beyond Merely Reducing Expenses: Exploring Wide-Ranging Potential Applications
In our rapidly-evolving digital world, artificial intelligence (AI) is no longer a distant prospect for the tech-savvy – it's a reality for the masses. Over the past two years since the launch of ChatGPT, AI has captured the imagination, with discussions predominantly focusing on its impact on jobs and productivity. But the focus is shifting – AI is making waves in higher-level positions, and it's time we take notice.
A new book, The HBR Guide to Generative AI for Managers, sheds light on how AI can function as a "co-thinker," enabling executives to engage in critical and strategic thinking. This assistance comes in various forms, such as providing examples to back arguments or research, taking different viewpoints, and challenging assumptions.
Elisa Farri, Vice-President, and Gabrielle Rosari, Director of Content and Research at international consultancy Capgemini Invent's Management Lab, explain how advancements in AI transcend its utilization as a mere productivity tool. They point out that most managers' tasks are complex, and AI can serve as a "sparring partner." The value lies not just in asking questions, but in holding interactive discussions with a problem-solving and thought-refining focus.
Rosari reveals that a recent survey indicated that approximately 80% of managers recognize AI's potential, yet only a fraction are navigating towards co-thinking. This stems from a cultural gap between ambition and action, he adds.
As we delve deeper into the world of management practices, it becomes evident that this cultural chasm could have significant repercussions for organizations. Interestingly, MBA students seem to be quicker at embracing this strategy compared to current managers. As Farri remarks, "It's a responsibility – they don't need to be experts, just get their hands dirty and also be aware of the risks and traps."
Experience has taught Andrew Rashbass, former CEO of The Economist Group, Reuters, and Euromoney Institutional Investor, the potential of AI in promoting one of the more human aspects of business – culture. In collaboration with the van der Schaar Lab at the University of Cambridge, he is exploring how AI can act as a sort of "coach in the moment."
Rashbass notes how office workers engage in hundreds of digital interactions daily, making it possible for AI to intervene in a small percentage, ensuring employees reflect on crucial matters during their daily tasks. By integrating AI into emails and communication channels, he says, "It's using AI to make humans better." He aligns with Farri and Rosari in believing that, with the right mindset, AI presents an "opportunity to unlock value rather than just cut costs."
Indeed, these ambitious goals could resonate with forward-thinking leaders. However, the allure of AI bots as replacements for human counterparts is likely to appeal to many others. The key lies in striking a balance between efficiency and human connection in the ever-evolving landscape of business culture and coaching.
- The new book, The HBR Guide to Generative AI for Managers, suggests that AI can function as a "co-thinker" for executives, helping them challenge significant assumptions and engage in interactive discussions.
- Andrew Rashbass, former CEO of The Economist Group, Reuters, and Euromoney Institutional Investor, is exploring how AI can act as a "coach in the moment," potentially helping office workers reflect on crucial matters during their daily tasks.
- MBA students seem to be quicker at embracing AI-assisted coaching compared to current managers, according to Elisa Farri and Gabrielle Rosari from Capgemini Invent's Management Lab. This difference, Farri remarks, is a responsibility for managers to navigate, understanding the risks and opportunities associated with AI in business culture.
