Are organisations prepared for the future of AI?
While leaders in the corporate world believe that their organisations will be disrupted by artificial intelligence (AI) tools in the next five years, very few of them believe that their current organisations are fully able to handle this disruption.
This was one of the key findings of the Leadership in the Age of AI report released by Kearney, a global management consulting firm, and Egon Zehnder, a leadership advisory firm. The report delves into how business leaders foresee the impact of AI on organisations and jobs, and their feelings about the preparations done so far.
With 70% of the leaders surveyed in the report believing that AI will disrupt the way they operate in the next five years only one in five (20%) believe their organisation is currently prepared for this disruption. This is attributed to the increasingly fast rate of development of AI, with nearly three-quarters of the leaders surveyed believing their preparations are limited by time, people, and money, as well as a lack of understanding of AI from leaders (51%).
Meanwhile, of the respondents who felt that their organisations are prepared, 89 % attributed readiness to their leadership team’s understanding of AI and its capabilities. The report found that 85 % of business leaders still see AI as an opportunity for their organisations, with more than 90 % seeing it as an opportunity for them personally within their roles. The report found that currently, 49 % of leaders are investing in infrastructure, 44 % are building external partnerships and 39 % are recruiting expert talent.
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“Keeping pace with AI through personal learning and continuous exploration are pivotal steps for leaders to not only embrace this transformative technology but also ensure sustained success in an ever-evolving landscape,” said Arjun Sethi, Regional Head and Chairman, APAC, Kearney.