The leadership must apply technologies that will increase the efficiency and productivity of human employees.
FREMONT, CA: Advancement in analytics and artificial intelligence has developed the ability to connect and automate in almost every aspect of life. Such technologies have a limited effect on work lives. The practices are often too cumbersome, too disconnected from reality, and too analog for the leader to perform in a digitalized world.
The available technologies can automate the management, providing leaders more time to lead, and is essential. Today digitization has started disrupting at an increasing rate due. The leaders are dealing with challenges to correctly anticipate transformation in the business world to make the companies more agile. Therefore, the leaders have to become more liberated from the regular work to focus on the strategic transformation.
A digital race to the bottom
Today the companies are dealing with technology maelstrom. Technologies like robotic process automation, blockchain, virtual reality, the internet of things, 3D printing, and augmented reality help organizations do things cheaper, faster, and more autonomously due to AI.
Executives need to adopt such innovative technologies as quickly as possible. Every marketplace has become a competition zone. The widespread technology-enabled try to commoditize, bypass, and disintermediate. On the other hand, now the customer has more and better options due to which they expect their requirements to met swiftly, conveniently, and at the lowest price. If any organization does not meet the expectations, they have to change their business to the one that will.
Using new technologies to revolutionize task execution
Technologies are always necessary for developing better customer value at a lower cost. It may look like that it is a very dependable formula for profitable growth but while practicing, most companies find it challenging to hold on to the gains from digital advancements. Many markets are restricted due to which it cannot reward technological investment with appropriate revenue growth. Such challenging realities can lure organizations into a digital race to the bottom.
There is also a concern about the future of the works because technology can replace people and lose jobs. The nature of work will most likely change as the technologies will grow human potential and even increase effectiveness and efficiency.
The leadership must implement technologies to increase efficiency, human creativity, judgment, and ingenuity. Augmenting leadership with technology will increase the leader’s capability to meet such challenges and accomplish prosperity.