According to a report by the World Economic Forum, artificial intelligence (AI) will create over 97 million jobs, but it will also replace 85 million jobs that may become obsolete by 2025!
The dynamics of how leaders function and direct their teams will change because of such a significant shift in the industry. Organizations must be prepared to face and embrace these paradigm shifts as well as the obstacles that the workforce around the world will experience.
While considering the workforce and their capabilities, AI will alter the strategies and choices made by leaders at all levels. Future leadership must focus on integrating AI-powered systems and preparing the workforce for these radical changes. Leaders must develop the appropriate soft and hard skills that are crucial in the AI era to accomplish these changes effectively.
Here are some skills that we believe are crucial to possess in order to keep up with the age of AI.
Upskilling as the Core Element
Upskilling the team to adapt to these AI-driven changes is the most crucial and necessary competency that leaders need to possess in the upcoming years. A CEO-focused PWC report highlighted the skills gap as a vital problem that needs to be solved. According to the report, 55% of respondents believed they were unable to innovate effectively. This demonstrates to us in clear terms the inner spectrum of how decision-makers relate skills to innovation, showing a direct proportionality between the two. Therefore, the leaders must put effort into upskilling themselves and the team to remain useful for the years to come to match the pace of an AI-driven future.
Having a Collaborative Mindset
Unparalleled teamwork and support are required when introducing new frameworks, processes, tools, and workflows to support the current system. If there is an acceptance conflict within the internal team, the leader cannot put the new system into practice. The leader must effectively communicate the bigger picture to the teammates for them to understand the vitality of things. This kind of cooperation can assist in successfully implementing any strategy, with smooth blending with the current context or system. To build a team that works closely to face the novelty of the changing world, a leader must use such collaborative channels and conversations.
Read: How to be a connected leader?
Agility in Strategic Management
According to the PwC report, over 35% of decision-makers have considered implementing AI-driven initiatives. Over 20% of respondents, however, were not even thinking about implementing AI models or solutions into their strategy. This may be a smart move, but not all industries will be able to adapt to the new AI model without agility. Therefore, leaders must update their strategies while implementing the models and functionalities that keep their systems from becoming obsolete. It also allows team members to follow the same line of thought and practice agility when the time comes, leading to quick and acceptable adoption in the age of AI.
Impeccable Emotional Intelligence
Emotional intelligence is one tool that can keep the ship afloat when erratic and unprecedented changes are introduced to the industries. It is not possible to lead with a manager mindset alone in this changing world. It is crucial to develop emotional intelligence so that the team can trust the leader and have faith in the organization’s future goals. Emotional intelligence will be one of the top skills for these changing times, where job roles are evolving and sudden shifts are impacting the sectors so easily, according to a report by Capgemini. The ability to connect with one another, possess social awareness, and cultivate self-awareness will be crucial for leaders to survive the imminent AI boom.
Read: Emotional Intelligence in Leadership – Why is it Essential?
Cultural Fit and Diversity Enthusiast
AI will never be able to physically present for the team and create a culture that accepts the various cultural shifts. The emotional needs of employees seeking a workplace with a diverse and culturally inclusive environment are evolving along with technology. The changing demands of the AI-powered world can be driven by a leader who can provide a culture that speaks for itself. According to a Glassdoor survey, over 76% of job seekers view finding a diverse workplace as their top priority to stick with and perform to the best of their abilities. A team that works together for the bigger picture needs to have their personal goals and needs met as well. To succeed in the modern world, a leader must use tactics that reflect such inclusive and diverse ideologies to fit everyone, working towards the singular end goal.
Out-of-the-box Authentic Thinking
AI can automate processes and provide answers to your inquiries, but it is unable to make inferences that aren’t already recorded in the data sets. To combat the AI revolution, leaders must cultivate their ability to think creatively and introduce novel value propositions. Organizations must remain relevant in the age of AI, but to shine as distinctive, leaders must be able to think creatively while encouraging the same in the team. By using AI, time spent on routine tasks would be freed up, allowing for more creative and unconventional endeavors. For the best outcomes, the leaders would need to be genuine thinkers as well as champion the same approach within the team. The goal is to consider all options, whether they involve AI or not while using human intelligence to think outside the box.
The shifting dynamics of the industries and workforce have a significant impact on the leaders. They must constantly improve the way they manage their teams and reduce operational risks in the era of AI. We at Numly have developed tactics that assist leaders in maintaining their relevance and influence despite the changing nature of society. Our framework for connected leadership provides leaders with a learning environment that enables them to accomplish both their personal goals and the overarching organizational objective.
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