Harnessing AI and reskilling for growth: Workforce considerations for AI integration

Leveraging AI to automate repetitive tasks allows organisations to free employees from more laborious and time intensive tasks and instead focus on improving productivity, boosting performance, and driving growth.

Workplace disruption risks

However, the introduction of AI into businesses is not without risk. AI has the potential to severely disrupt workplaces across all industries. To combat this, organisations must "get the right skills in the right places to successfully pivot and adjust," Jarvis said. Business will also have to reskill and upskill employees, as covered in the 2024 Global Risks Report.

While offering the opportunity for businesses to improve their efficiencies and productivity, AI adoption also changes their risk profile. Concerns raised by the audience during the session included associated costs, cyber threats, misinformation, fraud, and job losses.

AI integration

As organisations begin integrating AI into their business models, it is important leaders recognise the "tools available to help rapidly gain insights into unstructured data," said Crask. While AI adoption enables businesses to find extra resources to add value to other areas, the impact on employees must be addressed to ensure that the technology is designed to enhance their work experience.

Organisations developing mature AI systems, can take the following steps to ingrain AI into business processes:

• Developing a data-driven, AI-first culture
• Ensuring there is robust governance in place to oversee the adoption of AI tools
• Collaborating with AI vendors and new technologies
• Investing in advanced AI capabilities
• Optimising AI models and algorithms to suit business processes

Risk management and keeping pace with change

The speed of change in the AI landscape can be overwhelming. Engaging with employees and involving them in the AI journey can help businesses adapt to the changing landscape.

Any transformative technology comes with its own set of risks, and organisations should have a clear vision of how AI-enabled technology can solve business problems and improve productivity.

Change management and strong governance is crucial to ensuring employees understand the benefits of AI adoption and addressing concerns surrounding job losses, data security, and potential biases in AI algorithms. Additionally, the ethical implications of AI need to be considered and business leaders must ensure transparency and accountability in its use.

By implementing a digital-first and risk resilient culture, organisations can unlock new opportunities, improve productivity, and remain competitive in an ever-changing environment.

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