Why AI should be treated as just another business change

Looking back to just a few years ago, using Artificial Intelligence (AI) in our day-to-day work would have seemed wildly futuristic. However, in the past couple of years businesses across the globe have begun to explore how AI tools can streamline and optimise their processes.

Tasks like data modelling, project planning, and workflow management that may have once taken hours are completed effortlessly thanks to AI - leaving room for professionals to focus on higher-value and creative priorities. With this in mind, it’s no wonder that AI has gathered such a buzz.

But that’s not to say that every company sees the potential in AI tools, or are particularly interested in utilising them – yet. This could well be down to a lack of understanding or simply not knowing where to start. A recent report from Grayce found that AI is the biggest challenge C-suite business leaders will face in the coming years. That being said, many are open to the challenge.

So, can AI really be transformative for businesses? Or is it just another fad?

Transformation through AI

For many businesses, change and transformation can manifest itself in a variety of ways. Whether it’s updating old processes, upskilling team members or incorporating new technology, businesses understand the need to evolve in line with the times.

As technology is constantly changing, businesses are used to adapting to new updates in the landscape, and the implementation of AI is no different. With its ability to improve efficiency, productivity, and allowing staff to concentrate efforts elsewhere, AI tools can most certainly be transformative.

From IBM’s watsonx to Microsoft’s Copilot, businesses can generate images, content, and gather research, but the capabilities don’t stop there. There are also multiple data analysis possibilities such as sampling, modelling and visualisation, that specific AI-powered tools can provide too. All in all, companies are not short of options to streamline workloads.

But are businesses fully understanding the benefits of AI tools? Well, our recent study highlights just how transformative AI can be.

The research questioned C-Suite pros from FTSE350 companies and found that over a third (37%), admitted that AI had significantly streamlined processes within their organisation. It even pins the usage of AI tools as a top transformation priority for 39%. This clearly shows us how AI adoption resonates with businesses who are looking for improved process efficiency.

So why are some companies still so apprehensive to adopt AI tools?

AI blockers

Of course, AI comes with its own hurdles for companies to overcome. Fears around data and cyber security, as well as the overall ethics of these new tools have stunted the implementation of AI into company workflows. With a massive 41% of the C-Suite claiming to be worried about the ethics in AI, is it possible to overcome this?

The answer is yes.

Much like any other change in technology, appropriate and relevant training will always help to educate and upskill employees. If we think back to when computers were mass introduced into the workplace, people were not expected to suddenly know how to use them. It will take time, but we are already seeing more and more companies begin to see the value in AI education. Here at Grayce, we’ve recently launched our very own AI Lab where employees are being upskilled in the principles of the technology.

Another point to mention here is the importance of having a concrete AI strategy in place so that bias can be reduced, and set procedures are in place to ensure employees are comfortable and using it responsibly. Promisingly, 36% of C-Suite admitted to having a current AI strategy in place, and a further 33% said that they have begun to invest in briefing and educating employees on their strategy.

A final thing to point out is the benefit of having a dedicated head of AI to oversee operations or to build a team of other skilled professionals. 39% of C-Suite businesses say that they already have a dedicated head of AI. This is an essential pathway to overcoming blockers, as for AI to be effective, impactful, and most of all transformative, companies require a structured process including relevant personnel. For those companies not yet ready to appoint a dedicated head of AI, working with a partner that understands the nuances of AI and how to implement it smoothly and effectively can be beneficial.

But what does the future hold for AI’s role in business transformation?

The future of AI business transformation

The future of AI looks promising, especially in the change and transformation space. Research shows us that many businesses are starting to develop strategies and are clear on who is responsible for AI implementation within their business.

It’s very possible that in ten years’ time we will look back and laugh at how little we used AI for our tasks.- There’s no doubt that it can make our jobs more streamlined. And with 35% already actively using AI to support their transformation projects, this just further proves the point of how essential it will become in the coming years.

If you’re interested to see what else Grayce’s research uncovered, you can find it all documented in the report.

*Research with 103 c-suite professionals in FTSE350 companies, in July 2024

About Grayce

Grayce partners with some of the world’s most ambitious organisations to help deliver change and transformation.

With over a decade’s experience developing and deploying high-performing talent, Grayce delivers a low-risk and scalable solution and enables long-term capability build. Our Accelerated Development Programme has enabled thousands of talented individuals to launch successful careers.

For more information, please visit: https://www.grayce.co.uk/

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