CIO & LEADER-Issue-06-September_iPad

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Cover Story ARTIFICIAL INTELLIGENCE The next digital frontier? The current AI wave is poised to finally break through Investment in AI is growing at a high rate, but adoption in 2017 remains low In 2016, companies invested $26B to $39B in artificial intelligence TECH GIANTS $20B to $30B $6B to $9B 3x STARTUPS External investment growth since 2013 20% of AI-aware firms say they are adopters 3+ technologies 2 technologies 7% 1 technology 41% of firms say they are uncertain about the benefits of AI 3% 10% 31% Partial adopters 10% Experimenters 40% Contemplators How companies are adopting AI AI adoption is greatest in sectors that are already strong digital adopters High AI adoption • Assets Six characteristics of early AI adopters Digitally mature Larger businesses Usage Medium AI adoption Retail Media / entertainment CPG Adopt AI in core activities Adopt multiple technologies Low AI adoption • • • Labor Focus on growth over savings C-level support for AI Digital maturity Four areas across the value chain where AI can create value PROJECT: Smarter R&D and forecasting PRODUCE: Optimized production and maintenance PROMOTE: Targeted sales and marketing PROVIDE: Enhanced user experience Five elements of successful AI transformations Use cases / sources of value Data ecosystems Techniques and tools Workflow integration Open culture and organization 16 CIO&LEADER | September 2017
Cover Story ence specialists. “We are making sure that we recruit from good universities; HR, to understand what kind of workforce is needed; business, to tell us in advance when they will need tech skills, and IT, to decide whether we need to retrain our existing manpower or hire from outside,” said Agarwal. A number of new jobs will be required to understand the applications of AI. These are likely to require advanced degrees and highly specialized skill sets. "IT employees who cannot enhance their skills to work in a highly automated, large-scale environment," said Prasad. “But the job prospects will be high in areas such as data science, critical thinking, business analytics, etc,” he added. This is not going to be easy. What does it mean for IT leaders? A few years ago, it was predicted that the CIO role will perish. Today CIOs from top performing organizations are spending up to four days more on executive leadership. “THE ADVANCEMENT IN TECHNOLOGY IS BOUND TO BRING IN AUTOMATION AND RETIRE REDUNDANT JOBS.” Six steps for the future IT leader Act now. This isn’t about some ‘far future’ of work – change is already happening, and accelerating. No regrets and bets. The future isn’t a fixed destination. Plan for a dynamic rather than a static future. You’ll need to recognize multiple and evolving scenarios. Make ‘no regrets’ moves that work with most scenarios – but you’ll need to make some ‘bets’ too. Make a bigger leap. Don’t be constrained by your starting point. You might need a more radical change than just a small step away from where you are today. Own the automation debate. Automation and Artificial Intelligence (AI) will affect every level of the business and its people. It’s too important an issue to leave to IT (or HR) alone. A depth of understanding and keen insight into the changing technology landscape is a must. People not jobs. Organisations can’t protect jobs which are made redundant by technology – but they do have a responsibility to their people. Protect people not jobs. Nurture agility, adaptability and re-skilling. Build a clear narrative. A third of workers are anxious about the future and their job due to automation – an anxiety that kills confidence and the willingness to innovate. How your employees feel affects the business today – so start a mature conversation about the future. Source: PwC's Workforce of the future: The competing forces shaping 2030 report Sanjeev Prasad Global CIO, Sutherland Global Services According to Gartner’s 2018 CIO Agenda, 79% of CIOs report that digital business is making their IT organizations more "change-ready." However, the major roadblock in the way of growth will be the lack of talent. CIOs feel that these technologies, especially AI, will require new skills, "some of which will be hard to find." . Change is constant – even for IT leaders. If organizations are to embrace the future, they must not only focus on their workforce but the leadership at the top. Adaptability will be an essential leadership skill to navigating the changes ahead. CIOs along with the IT workforce will have to develop skills to manage a mixed workforce, gain understanding of a new technology, and identify the people who can be upskilled in the organization. It’s impossible to predict the skills that will be needed even five years from now, so leaders and their organizations need to be ready to adapt and reskill– in the world they envisage – or be ready to perish September 2017 | CIO&LEADER 17
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