3 ways business leaders can remain ahead of the curve in the race to implement AI

Stories about how artificial intelligence (AI) and other emerging technologies have significantly sped up processes within some tech-savvy companies have dominated headlines over the past few years.

These technologies rose to further prominence in recent months through the release of ChatGPT, which has left many business leaders contemplating whether they are being left behind.

The technology behind AI can be difficult for many to understand, yet there are general principles and rules business leaders can keep in mind to ensure that the implementation and adoption of such technologies can be done gradually and delicately.

Taking the step to integrate AI within one’s company is not something that should be done from one day to the next, as it is imperative that any leaps of technology use within an organisation are done in ways that make sense. This should be done with the company, its people, clients, and any other stakeholders that could be faced with the new processes, in mind.

As a result, here are three ways business leaders can stay ahead of the curve and make the most out of emerging technologies.

1. Keep up to date with developments

In order to property integrate AI into a business, there needs to be sufficient industry knowledge in place.

Business leaders have to find the time to review trend reports, connect with industry networks, and engage with key leadership groups about the latest developments in the area.

Remaining up to date with what is happening enables business leaders to think about possible opportunities for their company to integrate AI in their operations, even learning from case studies of such technologies being used in other industries.

Generative AI like ChatGPT is one example of a technology that has dominated conversations over recent months. While it provides a significant number of opportunities for businesses, it is vital for business leaders to also keep in mind the potential risks that emerging technologies possess.

2. Develop a strategy and culture which incorporates AI

As soon as they have a solid understanding of how AI can have an effect on a company and the sector as a whole, business leaders need to carefully create a strategy that is in line with the company’s values values.

Organisations should involve a diverse team of leaders to focus on building and maintaining this strategy, thus ensuring that AI is integrated in a way that aligns with the target audience and company goals.

This team of leaders will also help develop a culture of innovation, with unique ideas being submitted about the ways technology can be utilised within the business.

3. Remain wary of technology’s drawbacks

Talks about AI are accelerating more rapidly than ever, with there being plenty of excitement about the different possibilities this presents.

However, business leaders need to be mindful of the dangers these technologies also bring about, including an overreliance on them.

AI should not serve as a replacement for human work, but instead be incorporated in a way to enhance and improve the quality and speed of their output. Automation is a benefit to businesses, yet human experience and decision-making capabilities are equally as, if not more, important.

Employees need to be assured that they are not being replaced by AI, and instead business leaders have to foster a culture where technology is embraced in a way that accentuates human creativity and experience, rather than limit it. This can be done by providing employees with adequate training on AI capabilities so that they can better understand and use AI to further improve their output, and not replace it.