For companies and their management, artificial intelligence means new opportunities, but also further disruptions that they have to prepare for.
The age of artificial intelligence has dawned and is fundamentally changing our economic world. For companies and their management, this means new opportunities, but also further disruptions that they have to prepare for. To analyze the role of leaders in AI transformation, have Kearney and Egon Zehnder interviewed over 100 managers from various industries worldwide. The “AI in Leadership” analysis shows how they assess the future impact of AI on their organizations – and how prepared they feel for it.
The main results are:
- The majority of company leaders expect serious upheavals in the company, but do not see any major changes for their own role. While only 43 percent of respondents expect their role to change as a result of implementing AI, 70 percent expect their company to struggle with change over the next five years.
- The attitude towards AI is fundamentally positive: Managers see more opportunities than risks. More than 90 percent of those surveyed say this in relation to their own function. They assess the opportunities for their company in a similar way: for 85 percent, the opportunities offered by AI are in the foreground.
- Companies are not well prepared for the upcoming changes. Only 41 percent of business leaders believe they have the skills necessary to manage the disruption AI will cause in the next five years. In relation to the entire organization, just 20 percent are convinced that their organizations are prepared for change.
- Understanding AI is essential for leaders to feel prepared. 89 percent of executives who believe their organizations are prepared think it is largely due to their own understanding of AI. Sufficient resources (time, money, personnel) and a supportive corporate culture are also perceived as important, although to a lesser extent at 70 and 74 percent, respectively.
- Lack of resources leads to lack of preparation. 73 percent of executives who see their organization as unprepared attribute this to a lack of money, staff and time. The leadership understanding of AI and the corporate culture are also important elements. The evaluation showed an agreement of 51 and 59 percent respectively.
- An AI strategy is essential. Around three quarters of those surveyed hold this opinion. Most people are aware that a strategy alone is not enough. Only 14 percent are satisfied with the strategy development for the time being. The majority are therefore taking more comprehensive measures, such as investing in infrastructure (49%), establishing external partnerships (44%) and recruiting experts (39%).
The survey shows that leaders play a central role in preparing their organizations for the impact of AI. Although management is unlikely to notice any changes in their day-to-day functions, AI will have a major impact on company operations.
“In times of change, good leadership is essential – whether decision-makers act as role models in AI transformation will be a key factor. This is the only way companies can use artificial intelligence profitably to create value in the future,” says Dr. Mirko Warschun, partner at Kearney and member of the European leadership team.
Christian Wohlgensinger, consultant at Egon Zehnder and responsible for T&C and AI in DACH, emphasizes: “The study shows that managers need to be able to navigate through uncertain times more than ever. Emerging opportunities and challenges must be made visible in order to act instead of react. It will be important to motivate teams to embrace change, continually learn and develop. This requires a willingness to question yourself, experiment and take risks, as well as the ability to communicate a compelling vision for the future that inspires and motivates others to come along for the journey.”
2024-02-14 22:31:49
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