Artifical Intelligence is becoming increasingly prominent across company infrastucture. One can be certain that this rising promiance will also extent to various areas of our personal lives. Today we explore the growth of AI, its impact on companies and what the technology shift means for imployees. Will companies proritise AI or the personal growth of its employees?
The Growth Of AI
For over a decade, artificial intelligence (AI) has proven to be a real game-changer in the business world. In years pervious, it was only used by large cooperations. Today, businesses of all shapes and sizes utilise AI to solve various business problems.
A 2019 report by Researchers and Marketers showed that the global artificial intelligence market was worth $28.42 billion in 2019 and is projected to reach $40.27 billion in 2020. The report also estimated that by 2023, the AI market would be valued at $99.98 billion with a compound annual growth rate of 34.86%. Staggering growth indeed.
These statistics show that artificial intelligence is here to stay and keeps evolving rapidly. Today we have AI all around us, handling various business operations with utmost the efficiency, precision, and effectiveness - often more so than humans.
The combination of AI with cloud technology consolidates business operations. This allows the company employees to save business information and files in the cloud, enabling easy access and use by other employees. Further benefits of AI include optimised business operations at a reduced cost, automation of repetitive business tasks, data-driven decision-making, and increased productivity and sales. Thereby, surely shakeholders will see AI as a must?
How Will Employess Be Affected
So what does this mean for employees within companies? Leaders within organisations will consistantly have to make the decision between an investment AI or an investment into their employees. For years, companies have prioritised people development, whether that be through academic learning opportunies or by faciliating coaching sessions for individuals. In the context of increasing investment into AI, will leaders continue to provide employees with learning and growth mindset opportunities to the same extent?
Let us know your thoughts.
Executive coaching services have observed that business clients who have taken advantage of leadership coaching have become better business leaders.https://businesscoachtoronto.ca/5-benefits-of-executive-coaching-in-toronto.html
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– everything about using the coaching approach in leadership.
For most, the word “leadership” brings a visual association to being hedonistic, powered, ambitious, and aggressive.
Bringing ‘coaching’ into leadership sounds like an oxymoron.But, the deep truth is adding coaching skills to one’s leadership style would encourage more engaging conversations with the organizational tribe.
This is why you see many world-class sports teams using coaching as an indispensable dynamic lever to best team work.
The potential of AI is far from being fully exploited thus making now the best time for Malaysia to sprint to the front of the race.
With the special focus on the Malaysian market, the 26th edition of World AI Show — Malaysia is set to take place virtually this week.
