AI is not a tech stack issue, instead it requires a shift in culture and mindset, finds EPAM
UNLEASH dug through the digital transformation services company’s latest AI data to find out how organizations can move away from simple productivity gains, and towards true business rewards, with the help of EPAM’s Chief Learning Scientist Dr. Sandra Loughlin.
AI can do a lot more than just drive efficiencies, it can unlock revenue gains at scale.
This requires a broad mindset and culture shift, which HR leaders must be at the forefront, according to new data from digital transformation services giant EPAM.
UNLEASH sat down with EPAM's Chief Learning Scientist (and UNLEASH America speaker) Dr. Sandra Loughlin to delve into the report.
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The top two reasons why companies are implementing AI is greater productivity and improved operational efficiency.
By comparison, revenue gain was only six on the list.
The problem is that by focusing on productivity and efficiency, organizations are failing to leverage the full potential of AI at work.
Instead, EPAM calls on enterprises to “shift your strategy from solely using AI to enhance productivity and operational efficiency to leveraging it across the value chain”.
Through this approach, organizations can achieve “revenue-generating impact at scale”.
Now more than ever, you need AI that supports your business goals — not the other way around,” stated the report.
A key challenge is that many organizations think that it is their tech stack that is holding them back on AI, but challenge is bigger than that.
The major issue is that enterprise organizations haven’t shifted their culture and mindset; they have failed to align their people with the data and tech.
While organizations are very aware of the role of people in the AI transformation – less than 4% of people surveyed by EPAM said their organization had no plans to expand their workforce around AI – there is still more work to be done.
The question that remains is how can organizations, and specifically HR leaders, bring people into the strategy and therefore unlock the true business value of AI?
HR needs to ‘position the workforce for success’ with AI
Speaking exclusively to UNLEASH about the research, Dr. Sandra Loughlin, EPAM’s Chief Learning Scientist, shares that the “the findings of this year’s research underscore the incredible pace and scale of change facing the workforce”.
In the face of this, “it is imperative that the People Organization work now to get ahead of the disruption and position the workforce for success”, adds Dr. Loughlin.
She continues: “HR leaders need to partner with Chief AI Officers or their equivalents in Data and Technology to understand how their organization’s AI strategy will impact employees and proactively create opportunities for upskilling, reskilling and internal mobility.”
On upskilling and reskilling, EPAM data shows that 65% of organizations believe they have the skills necessary for AI adoption, and 42% of companies think staff need to upskill around AI.
Ultimately, it’s time to move away from simple productivity gains from AI, and look at how it can help organizations achieve their business goals.
That might seem like a lofty goal, but the key is to get started – as the report concluded that “it’s crucial that
businesses don’t let analysis paralysis hinder their innovation”.
EPAM’s Dr. Sandra Loughlin is speaking at UNLEASH America in Las Vegas, May 6 to 8.
If you want more insight into AI, skills and HR, make sure you grab a pass to join us at the International Festival of HR.
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