AI and machine learning (ML) is the “ultimate power-up” for businesses – that’s according to a new global survey of 2,300 C-Suite leaders by HR tech giant Workday.
A whopping 98% of global CEOs see immediate business benefits of AI and ML.
47% of all business leaders surveyed (these include CEOs, as well as CHROs, CFOs and CIOs) said that these innovative tech tools will amplify human potential, while 39% noted the productivity gains.
In addition, 45% of CEOs believe AI and ML will help make the world of work more equitable – 38% of CHROs agree on the meritocratic benefits, while 29% of CIOs think the diversity element is one of the biggest benefits.
All of this explains why three in five businesses globally are already adopting AI in some way – in the realm of HR, 16% are piloting AI use cases, 21% are already rolling out AI and 19% are mature in their AI adoption.
Despite their optimism, 28% of CEOs are keen to wait and see the impact of AI and ML on their organization before they decide on approach.
So, what’s holding them back?
Workday’s data shows that 49% of CEOs think their organizations are unprepared, particularly in terms of tech tools and skills. 30% worry that employees will struggle to keep up, with HR leaders (32%) particularly concerned about technical skills.
Beyond skills, business leaders also have serious trust and data concerns. 62% rank security and privacy as a top three AI and ML worry.
AI and humans are the ‘ultimate power couple’
The question that remains is how can leaders – and organizations as a whole – balance the risks with the rewards?
First of all, skills. Workday’s CTO for EMEA Clare Hickie exclusively tells UNLEASH: “To pave the way for successful AI adoption, HR leaders must invest strategically in education and training programs for all employees.
“The first step is to evaluate existing skill sets and knowledge gaps to help HR identify where more training is needed – helping ensure widespread adoption and effective use.
“With this as a foundation, HR should aim to build a culture of continuous learning so employees remain adaptable to emerging technological advancements and can seamlessly collaborate with technology as it becomes increasingly ingrained in the workplace.”
Culture change is also needed to keep humans in the loop, and create a culture where AI, ML and humans work in harmony (not in competition) – creating an AI and ML power couple is where the best results come from.
AI at UNLEASH World
Automation and AI is going to be front and center at UNLEASH World 2023.
Grab a ticket now for our upcoming Paris show to get invaluable, in-person, actionable insights on how to use AI to your advantage from Josh Bersin, as well as HR leaders like Anika Grant and James Purvis.
Sign up to the UNLEASH Newsletter
Get the Editor’s picks of the week delivered straight to your inbox!