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Leadership in the Time of Artificial Intelligence
Work Management
Last modified date

Jun 5, 2024

How to Be Better Leaders in the AI Era

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Maya Kirianova

Blog average read time

6 min

Last modified date

June 5, 2024


AI, the simulation of human intelligence into technologies, has become a game-changer in business. Think of intelligent automation accelerating processes, machine learning performing data analysis, generative AI creating content pieces, and more.

As a business executive or decision-maker, leverage this modern technology to improve your business operations. But what does it take to be a better leader in the age of artificial intelligence?

This blog seeks to answer the crucial question above. Read on to learn how to become a better leader in the AI era.

Leadership in the Time of Artificial Intelligence

Artificial intelligence is already upon us—right here and everywhere. However, it shows no signs of stopping or slowing down. Instead, AI technology is growing and evolving, having the power to shape the future of business.

In fact, Deloitte regards this era as the “Age of With,” where human work gets “augmented and enhanced with AI.” Take some interesting statistics from two of its most recent reports:

Image adapted from Deloitte

The challenge is posed to each and every leader looking to improve operations and achieve success. But first things first, let’s define and understand what leadership and AI are:

  • Leadership: Simply put, leadership entails influencing, motivating, and guiding others to achieve shared goals. Forbes argues that leaders don’t just delegate tasks but facilitate interactions among employees. They use stacks of software that seek to improve communication, eliminate distractions, enhance knowledge and skills, provide the utmost support, and ensure business productivity.
  • Artificial Intelligence (AI) involves simulating human intelligence in digital tools and technologies. It allows machines to somewhat think and work like human beings. AI-powered chatbots, IVR systems, and generative AI like ChatGPT are perfect examples. Statista predicted the global AI market to reach $305.90 billion in 2024 and $738.80 billion by 2030 at a 15.83% compound annual growth rate (CAGR).

Image source

Leaders and AI meeting halfway

AI has already transformed businesses across different industries. Now, it makes sense for leaders to capitalize on this technology for business optimization. According to Gartner, 80% of leaders use AI technology for various strategies and decisions.

Companies such as Netflix, Amazon, and Apple, among many others, have started using AI-powered tools and technologies to improve their operations.

Business leaders require employees to use the robotic automation process (RPA) for task automation, the national language processing (NLP) model for customer service, generative AI for content creation, and predictive analytics for data analysis. However, there is more to these than meets the eye.

The question is: Why should leaders invest in AI technology? Find out below.

Key benefits of AI in leadership

AI technology comes with several potential benefits for every business. Deloitte cites the top three benefits of intelligent automation adoption: increased productivity (73%), cost reduction (60%), and improved accuracy (44%).

Image adapted from Deloitte

Unconvinced? Here’s how AI proves beneficial to your business or organization:

  • Data-driven business decision-making: Machine learning (ML) is a subset of AI capable of learning and deciding based on data patterns or trends. ML can help you analyze data, forecast trends, and make business decisions. Use web and predictive analytics for data analysis, forecasting, and reporting.
  • Increased efficiency and productivity: AI-powered project management software improves workflows. These automated tools speed up processes and make employees more productive. Invest in computer telephony integration (CTI) technology, customer relationship management (CRM), and task software automation.
  • High customer satisfaction (CSAT): AI improves processes and empowers employees, allowing them to serve customers better. As a result, customers have the best experience interacting with your staff and doing business with you. Ultimately, this technology can substantially help boost your CSAT.
  • Business optimization and scalability: Technologies can generally improve business operations, helping your company scale up and down. AI is one of the most advanced technologies that can optimize various facets of your organization. Leverage some, whether AI-powered chatbots for customer service or ChatGPT for content creation. Here’s a case for ChatGPT in action.
  • Cost reduction and business profitability: Investing in AI can be costly at the onset. However, it can help you cut costs by automating tasks, integrating tools, and reducing the labor workforce. With its efficiency and productivity, this technology can improve service delivery, satisfy customers, and ultimately boost your profits.

In the next section, learn how to leverage AI and become a better leader.

7 Practical ways to become a better leader in the AI Era

A line is drawn between leaders who invest in technology and those who remain outdated. The former could expect business growth, success, and sustainability, while the latter might experience organizational entropy.

In this time and age when technology is instrumental to business success, leveraging AI tools can make you a better leader. Here’s how to become one:

1. Develop AI skills and competencies

There’s no denying the rise of AI technology. As a leader, you can invest in the best AI tools for organizational efficiency and employee productivity. However, you must first develop your skills and abilities to use this technology. Then, you can train and share these competencies with your employees.

Jim Pendergast, Senior Vice President at altLINE Sobanco, underscores the impact of AI on business. Pendergast argues,

“As an excellent business leader, invest in AI tools to empower your staff, not necessarily to replace them. However, developing their skills and competencies using this technology is key. In ChatGPT, for example, you can teach your employees how to use the best prompts for content generation.”

2. Use AI to optimize and streamline processes

AI is such a game-changer in today’s business landscape. AI tools can streamline workflows and optimize processes. For instance, RPA removes and automates manual tasks, while data analytics simplifies and accelerates business forecasting and reporting. Generative AI, like ChatGPT and DALL-E, improves the processes involved in marketing and advertising.

Robert Kaskel, Chief People Officer at Checkr, suggests incorporating AI tools into your business operations. Kaskel says,

“Business leaders must focus on AI integration as it can improve various functions involved in your business processes. It can make the series of steps more seamless, accurate, efficient, and effective. Ultimately, AI can enhance your work quality, data accuracy, service efficiency, and overall productivity.”

3. Empower employees through AI leverage

Automation harnesses AI power to perform tasks with minimal human intervention. It can empower your staff by reducing manual work, accelerating processes, and increasing efficiency or productivity. Acumen and Research Consulting predicts that the global automation software market could reach $76.4 billion by 2030 at a 16.5% CAGR.

Brooke Webber, Head of Marketing at Ninja Patches, recommends leveraging intelligent automation for your staff. Webber explains,

“As a great business leader, you want to make the lives of your employees much easier and faster in the workplace. Provide them with automated software applications so they can perform their jobs well and serve your customers better.”

4. Set an AI-aided and customer-centric business

Sure, AI empowers your most valuable organizational assets—employees. However, they extend to your much-valued customers. AI technologies like CTI, CRM, and IVR systems can significantly boost the customer service provided by your employees. They can help improve team communication to enhance customer relations.

As a good business leader, promote a customer-focused culture with the help of modern technology.

First, take the lead in using AI tools to enhance employee-customer interactions. For example, let your agents utilize data analytics to offer regular customers loyalty rewards. Ultimately, take care of your employees so they’ll take good care of your customers.

5. Foster human and AI collaboration

Communication issues arise in the workplace, hindering effective collaboration. Thanks to technologies, they help improve stakeholders’ interactions. For instance, AI tools like chatbots, IVR systems, and other AI-powered self-service portals can be a great addition to customer service.

Image source

Stephan Baldwin, Founder of Assisted Living, recommends fostering human and AI collaboration. Baldwin argues,

“As a business leader, you don’t have to choose between your employees and AI technologies. The key to success is merging human and technological resources to bring out the best in your business operations and customer interactions.”

6. Leverage AI for decision-making

A subset of AI, machine learning, is very promising in business. As cited, ML can learn from data sets and make predictions or decisions without being explicitly programmed. Hence, this technology can perform business functions like data analysis, forecasting, and reporting.

Catherine Schwartz, Finance Editor at Crediful, highlights the value of AI for business leaders. Catherine explains,

“As a business leader, you can be more effective by leveraging AI in your decision-making. Analytics tools can assist you in recording, organizing, analyzing, and reporting data more accurately, efficiently, and effectively. That can help you make informed decisions in your organization.”

7. Promote a culture of tech innovation

Businesses can no longer ignore the power of modern technologies. Among others, AI is the most advanced and promising. Leveraging this technology can help foster a culture of innovation in your company or organization. Forbes Advisor cites how businesses can leverage AI for different functions:

Image adapted from Forbes Advisor

Volodymyr Shchegel, VP of Engineering at MacKeeper, suggests investing in AI for business scalability and sustainability.

Shchegel explains, “AI has been disrupting industries in ways unimaginable, but it has only just begun. It will continue to evolve and do more for your business in the next few years. So, if you want to transform your business technologically in the long term, start leveraging AI as early as now. As a leader, you take the initiative and call the shots.”

Final Words

Effective leadership remains key to business success. However, a line is drawn between traditional and modern leaders. So, what makes a better one in the age of artificial intelligence?

Heed our advice:

The right leader capitalizes on advanced technologies to optimize business operations. 

To become a better leader, consider the practical ways recommended above. As such, leverage AI to:

  • Empower employees
  • Improve processes
  • Enhance customer satisfaction
  • Promote robust collaboration
  • Foster real innovation
  • Make sound decisions

AI has already begun transforming the business landscape in more ways than one. If you want your business to succeed, you must keep up with the AI trends. Ultimately, it takes a great leader to harness the power of AI for continued growth and long-term success!

Maya Kirianova

Author

Maya Kirianova is a freelance writer with a passion for crafting engaging content that spans various niches that range from technology to business. With a strong foundation in these industries, she delivers insightful and well-researched content that helps businesses and individuals navigate the complexities of the financial world.

Alexandra Martin

Editor

Drawing from a background in cognitive linguistics and armed with 10+ years of content writing experience, Alexandra Martin combines her expertise with a newfound interest in productivity and project management. In her spare time, she dabbles in all things creative.

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