Strategy must overtake speed in the AI adoption race

Many words have been used to describe the benefits of AI in our daily work and life. ‘Groundbreaking’, ‘revolutionary’, ‘empowering’, to name just a few. But for the positive impacts to be realised, it is not the speed of AI adoption by organisations that counts. Prioritising pace could in fact be detrimental to success unless it is front loaded with strategic thinking.

Planning versus pace

Realising the true potential of AI for organisations today is all in the planning. A sense of urgency and following the crowd can create a ‘tech-first, business-second’ scenario which often leads to counterproductive outcomes. The decision to adopt and use AI within a workplace setting should always come down to whether it will deliver value.

What do we want to achieve? How can we improve business processes? Is AI the right solution to this problem? It might not always be the answer and using it inappropriately or without a clear strategy or goal could do more harm than good.

Instead of focusing on AI simply as a cost-cutting measure or in terms of financial outcomes, those organisations prioritising meaningful social progress and organisational benefit will see the biggest rewards. By putting value creation and user alignment first, business leaders can ensure their technological investments drive meaningful and sustainable success.

Steps to success

When it comes to any AI adoption project, there are a number of key steps to follow for due diligence and long-term ROI. By working though these steps, organisations can ensure that any decision made is based on need and positive outcomes, and that technology deployed is fit for purpose and works with not against employees.

1. Define the purpose behind technological investment

How does investment in AI align with organisational strategy and goals? Will it support or undermine ideals. Understanding the role of AI in achieving objectives and the implications of this on workers and wider society must be the first consideration.

2. Engage stakeholders early

The decision to implement AI will involve and impact many stakeholders. From senior leadership and employees, through to partners and customers. It is therefore important to assess the impact of AI on all audiences early on and foster collaboration and transparency across the organisation for maximum buy-in and understanding of the goals and business case for AI.

3. Assess workforce impacts

The impact of AI on the workforce spans many areas – from how to get the most out of the technology through to changing and even removing roles and responsibilities. Understanding how technology will affect employees, from productivity to morale, and then effectively managing and communicating the change is a huge and vital step in assuring psychological safety of employees and getting AI adoption right.

4. Assess the risks

As well as the impact on people, the risks associated with using AI from a data protection and cybersecurity perspective need to be considered. AI is reliant on huge volumes of data which adds a layer of vulnerability and organisational data integrity. Using AI can bring additional operational and reputational risks so any decision must include robust security measures by design.

5. Ensure compliance and legal accountability

Using AI will also have implications for adhering to regulations around data privacy, intellectual property, and other specific industry requirements. With the risk of data breach heightened by further reliance on technology, ensuring AI systems can stand up to the rigours of regulation need to be taken into account.

6. Ensure scalability and adaptability

As well as planning for the organisational needs of today, it is important to future-proof any investment so it can cope with future growth and evolving business demands. The ability to adapt and remain agile is key to success and AI has the potential to provide this layer of flexibility for organisations so they can pivot in line with changing conditions.

7. Select the most suitable AI solution

Only when all objectives, risks, impacts and scenarios have been assessed can organisations choose the right tools for their needs. If steps are missed, the decision can be overwhelming. It will be difficult to objectively assess a solution based on specific need if this has not been clarified from the outset.

8. Evaluate cost versus benefit

The financial and operational implications of any investment must be weighed up. Making the inappropriate choice could not only lead to operational and financial consequences but reputational ones too. This could prove more costly than taking the time to make the right investment based on clear objectives.

For more insights from Keiichi and our faculty experts on the topic of AI adoption, download our Leadership Futures report: Harnessing Technology for Human Progress.