Published on December 12, 2023, 11:26 pm
Senior executives at Fortune 500 companies are increasingly focused on adapting their businesses to leverage the power of artificial intelligence (AI). Paul Daugherty, the Chief Technology Officer of consulting giant Accenture, recently shared a crucial piece of advice: “Invest more in the people than in the technology.”
During his speech at Fortune’s Brainstorm AI conference in San Francisco, Daugherty emphasized the importance of helping employees adapt to the changes that AI will bring to the workplace. According to him, businesses must prioritize developing their existing workforce instead of relying solely on hiring an AI-ready workforce in the future.
This theme has been reiterated throughout the conference. Speakers highlighted critical thinking, reasoning, and problem-solving as key skills for workers in the AI age since repetitive tasks are increasingly being automated. Daugherty believes that effective use of AI technology entails providing smart prompts and keeping humans involved throughout the AI process. By doing so, human wisdom can be integrated with technological advancements.
However, Daugherty also acknowledged that job consolidation is inevitable due to increased productivity gains brought about by AI. As tasks become automated through generative AI systems, fewer individuals will be required to perform them. He expressed concern for those whose roles may become redundant as a result.
The adoption of AI by businesses requires careful consideration and balance. While it brings numerous benefits and efficiency improvements, it also necessitates addressing its potential impact on employment opportunities. Nonetheless, embracing these transformative technologies with a focus on shaping a knowledgeable and adaptable workforce will pave the way for success in an AI-driven era.
Overall, adapting businesses to incorporate artificial intelligence involves finding a balance between leveraging technological advancements and investing in employee development. By recognizing that an AI-ready workforce cannot simply be hired but needs to be nurtured from within, organizations can effectively navigate the challenges and seize opportunities presented by generative AI systems.