Future Boss - a no-nonsense guide to leadership in times of AI

By Åsa E Degermark

Future Boss - A No-Nonsense Guide To Leadership In The Age Of AI

The success of digital transformation is heavily dependent of the human capability of managing change and the company's effort in the implementation of new tools, way of working, culture, and leadership. The role of l

• Language: English
• Publisher: Degermark consulting
• Release date: Aug 1, 2020
• ISBN: 9789151960098

Book preview

ISBN 978-91-519-6008-1

2020 Author

Author & Publisher: Åsa Degermark

Cover: Måns Hellgren, www.hellgren.space

Translator: Darren Packman

Version: 1

Copyright ©2020 Åsa Degermark / Degermark Consulting

All rights reserved.

No part of this publication may be reproduced, stored in or introduce into a retrieval system, or transmitted, in any form, or by any means (electric, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher. Requests for permission should be directed to [e-mail]. The web addresses referenced in this book were live and correct at the time of the book’s publication but may be subject to change.

Future Boss

A No-Nonsense Guide to Leadership in the Age of AI

Preface

"Technology is transforming both industry and society at large, and nothing will be more disruptive than artificial intelligence. Your competitors are already using artificial intelligence; now is the time to educate yourself and take action to give your company a competitive edge.

Already in May 2015, IBM’s CEO Ginni Rometty made a bold prediction at the World of Watson event. In the future, every decision that mankind makes is going to be informed by a cognitive system like Watson, she said. And our lives will be better for it. These are strong words, but IBM is effectively betting their company on AI, and so are many others. Some experts believe up to 800 million jobs will be gone by 2030, while others predict AI solutions may be as smart as humans by 2045. In 2021, it is expected AI will recover over 6 billion work hours and can improve business efficiency with 40%.

We are at the precipice of a new world, and now may well be the point in history that people will look back on as the point when the AI revolution truly began. We get to take part in this, to see it from the inside. It is an incredible opportunity. But it is also a huge challenge for leaders, especially those who are not from the tech industry. AI will have huge consequences to most industries, and will affect business models, jobs, government tax revenue, customer experience, medical and environmental research, policing, farming and much more.

Sadly, most managers are not educated well enough on the challenges and opportunities that lies ahead; perhaps because they are not personally interested in tech stuff, or they feel this is a technical matter and not a management priority.

Nothing can be further from the truth; AI is a strategic management responsibility; and board members, CEO’s and their management teams, as well as middle management and domain experts all need to educate themselves (on a popular scientific level) to understand the business impact AI might bring along to your area. If you don’t, you put your business at risk.

Reading this book is a great start, and shows you are one of the few who already understand the importance and required changes AI will bring along. I can warmly recommend reading this book on AI for managers!

Magnus Unemyr

AI & marketing automation consultant and author

Table of Contents

The new demands on leadership in today’s digital world

The human perspective - in the shadow of technology

8 key leadership principles for success in a digital world

Artificial Intelligence - the next big thing

How AI will influence leadership

Impact on organizations, functions and roles

How humans and machines will interact

Making decisions with the help of AI

Ethics, morality and responsibility

Where to start

Summary

Epilog

References

About the author

The new demands on leadership in today’s digital world

The development of new technology is happening at an incredible speed and market dynamics are constantly changing. Organizations are increasingly using digital technology to make either their own business more efficient or the products or services they offer to their customers more competitive. Or both. Many established organizations have already accepted the need to digitally transform their businesses (a process which can take several years) while new start-up companies embrace digital technology from the outset. Organizations that decide to wait or fail to digitally transform run the risk of losing both customers and competent employees to competitors in the future.

Digital transformation has turned many of the things we’ve previously taken for granted upside down - not at least our view of leadership. Modern leaders are now expected to be able to steer an organization toward the unknown, guided by ambition and a clear sense of direction. The focus has radically shifted from what can we sell to what customer problem can we solve? The customer's needs and experience are now all that matter. In order to keep up with digital development we need to revisit traditional attitudes towards leadership and be prepared to adapt to the rapid rate, driven by the technology development. All of this will have a major impact on how you as a leader think, react and perform on a daily basis.

Traditional business models usually revolve around minimizing risks - an approach that can be quite devastating in a digital world. Instead of focusing on minimizing risks leaders should see failure as a natural part of business and learn how to quickly convert mistakes into learning opportunities.

Every leader in an organization needs to understand the company's vision in detail and commit to its consequences and possibilities. Leaders are expected to be able to anticipate the opportunities of digital technology to improve and simplify their business, no matter what role or part of the process they are involved in. By being proactive and understanding their customer's needs, leaders can continue to add value to their business.

It takes courage and a degree of risk-taking in order to start a digital transformation in any organization. The Board, management team or political leadership need to be experienced in both situational and impact assessment. An investment decision is often needed which requires the redistribution of resources and finances and which usually has far-reaching consequences within an organization. Sometimes it might be the profitable core business that receives less resources because of a new digital venture. Research suggests that it is more important for companies to be able to innovate and adapt to our faster-paced business tempo than preserve and defend their existing business model.

As a result of today’s quick-changing and competitive markets and the constant demand for innovation they stimulate, the need for more flexible and dynamic teams that can meet new expectations and challenges has increased. Instead of heading up an organization with traditional departments and units, today’s leaders are tasked with developing skills, supporting innovation and making decisions quickly. No matter what kind of leader you are it's important you have the right skills, the right motivation and the right employees around