Gen AI's success 'highly dependent' on people: report

Gen AI’s success ‘highly dependent’ on people: report | Insurance Business New Zealand

Business Strategy

Gen AI’s success ‘highly dependent’ on people: report

New report urges employers to tap human element of gen AI

Business Strategy

By
Dexter Tilo

The success of generative AI’s implementation in the workplace will depend on the human capabilities that work with it, according to a new report from Deloitte and ServiceNow.

The report predicted that 2024 will likely see the extension of the “year of GenAI,” which began in 2023 after the rapid development and integration of such tools in workplaces.

“Heading into 2024, it’s clear that getting the most out of every technology investment remains a number one priority — and leaders need to meet this moment,” said Asish Ramchandran, global chief commercial officer, ServiceNow Alliance, Deloitte Consulting LLP, in a statement.

Addressing ‘human element’ of gen AI

Among the five key actions that business leaders need to drive value is tapping the “human element” of AI.

“GenAI has caught everyone’s attention, and its success will likely be highly dependent on the human capabilities to work with it,” the report said.

It underscored that the rise of generative AI will present organisations with opportunities to reskill and redeploy existing employees. It will also present opportunities for employers to be their stakeholders’ “trusted advisor” by focusing on trust and transparency.

Employees who are experiencing job insecurity as a result of generative AI’s implementation should be shown how the tech can make their jobs easier by automating their repetitive tasks.

“Then, show employees how it can accelerate their career ambitions, including educational opportunities to build new skills,” the report read.

Gen AI concerns for C-suite, board members

Board members who want assurance that policies are in place to prevent unintended consequences from using generative AI should also be assured that the technology won’t be left unchecked.

For C-suite members who are looking into the impact of generative AI in their organisations, the report suggested presenting them with a roadmap that sets expectations and shows how gen AI can drive efficiency to meet these goals.

“Examine the impacts on your growth strategy and temper board fears with how you’ll govern growth and tap humans to keep AI in check,” the report read.

“The energy around GenAI is undeniable, but the value isn’t guaranteed,” the report said. “It’s going to take vision and work to realise the potential — and its value may come in waves. Those who rise to the moment can set themselves and their business apart.”