Snapshot of Future Organizations – What Leaders Should Do – Asrar Qureshi’s Blog Post #928

Snapshot of Future Organizations – What Leaders Should Do – Asrar Qureshi’s Blog Post #928

Dear Colleagues! This is Asrar Qureshi’s Blog Post #928 for Pharma Veterans. Pharma Veterans Blogs are published by Asrar Qureshi on its dedicated site https://pharmaveterans.com. Please email to aq.pharmaveterans@gmail.com for publishing your contributions here.

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This post is based on a very interesting article written by Sandra Durth, Bryan Hancock, Dana Maor, and Alex Sukharevsky – Link at the end.

Generative AI is expected to have a highly significant impact on organizations and the economy over the next decade. The technology is accessible to everyone, even for free use, and is so easy to use that anyone with little or no formal training can use it. It is being embedded into everything, emails, word processing, meeting software, and so on. It means that the technology is poised to transform the way people work. Mckinsey research shows that Gen AI could enable automation of up to 70 percent of business activities across all occupations, between now and 2030, adding trillions of dollars to global economy. With such lucrative outlook, who can stop this change? 

The technology evangelists remind that this technology is still evolving. It will become more intelligent as it learns more, and those who do not learn to work with it now, will be left behind.

This raises important points for business leaders, be they owners or senior managers. 

Point #1

The leaders must understand clearly what the technology is, how it will impact the business, and what benefits it can bring. Senior leaders in Pakistan are generally not tech-savvy, they rather shun the technology, and prefer to keep using conventional tools. This will not work in this case because Gen AI shall bring fundamental changes to how businesses work, therefore, senior leaders must lead the change. They will also be required to explain to rest of the staff to take them on board for the change. 

Point #2

Leaders shall have to identify which applications and tools they would like to start with. They should design the way these new applications shall be rolled out, who will be involved, and how the progress shall be tracked, so that from initial testing to scaling up, all is done smoothly.

Point #3

Leaders shall need to create ways to building the required roles, skills, and capabilities, for now and future, so that technology integration is smooth, and their business stays ahead of competition.

New research indicates that due to faster pace, half of today’s business activities could be automated a decade earlier than previous estimates. This is a huge undertaking which requires detailed planning and exquisite execution.

The relevant questions which should be raised, considered, debated, and satisfied to adopt a sound approach may go like this.

In what ways will the organization be impacted due to Gen AI?

It is estimated that routine, repetitive, non-strategic work may be assigned to Gen AI early. Every department of the organization has such functions. A detailed list of such jobs should be made and analyzed by the core group and findings presented to the top management.

Does the organization have human resource and technical infrastructure?

Human resource is first consideration. The starting point is that no one is yet trained. Those who are more trainable and eager to be trained shall be considered first. How the training will be done and who will train are next questions.

Most companies in Pakistan are using compromised, low-specs hardware, which runs cracked softwares. Can this infrastructure handle the pace and power of Gen AI, is another key question. 

If new hardware and software are to be employed, the cost consideration shall obviously come. It should be analyzed how much can be spent and in what time frame.

What will be the timeline for integration of Gen AI?

Let’s be fair. Integrating Gen AI, and automating functions is still a matter of choice, but it may not be so in the next ten years. It is understood that an upgrade of this scale does not happen in a short time. Every organization shall take time to start and achieve the desired level of automation. 

Every organization should design their own timeline based on the level of urgency in their market, their human, technical, and financial resources. However, there must be a timeline and it must be followed.

Which applications shall be installed?

At present, the introduction of new AI based application is coming at a mind-boggling pace. It is expected that this will continue for some time. Similarly, organizations are cropping up which claim to become your partner for Gen AI integration in your business. However, thorough review and careful analyses must be done to choose the right applications. If you can build inhouse capability for implementation, it may be preferred. If a partner is needed, the firm must be selected with clarity, and it should be controlled through proper contractual clauses. 

What changes should be made in the policies and procedures?

It is quite likely that hiring parameters shall change. Different kind of talent will have to be attracted and retained, which may require fundamental changes in the HR policies. Present procedures are based on manual work; for automated work, new processes and procedures shall be defined. New policies aimed at data protection, and cybersecurity shall be written to protect the work and people.

What are the risks and how these shall be mitigated?

Detailed risk analysis and risk mitigation strategies must be in place. 

The first risk may be non-acceptance from employees who may fear losing their jobs. It is a tangible threat. Employees should be taken into confidence about their future through open dialogue. Disgruntled employees can derail the process in unexpected ways.

Certain biases may be built into Gen AI applications which could negatively affect certain groups in the organization. It may also lead to questioning the reliability of Gen AI models. As it is now, the Gen AI is liable to give wrong facts as replies to prompts, and different answers to the same prompt on different occasions. 

There may be risks to the intellectual property of the organization which may be exposed inadvertently through Gen AI outputs. Similarly, customer data, employee data, or even financial data may be breached. 

Organizations must understand these risks and build proactive approach in avoiding and mitigating risks. 

Sum Up

There is no doubt that Gen AI has opened unprecedented opportunities for everyone. The good thing is that it is not restricted, it is available for everyone. The not-so-good thing is that it is still evolving at a fast pace. If the organizations start now, they may face hiccups which come with every new idea. If they wait for the technology to become mature and stable, they may be too late.

Concluded.

Disclaimers: Pictures in these blogs are taken from free resources at Pexels, Pixabay, and Google. Credit is given where available. If a copyright claim is lodged, we shall remove the picture with appropriate regrets.

For most blogs, I research from several sources which are open to public. Their links are mentioned under references. There is no intention to infringe upon anyone’s copyrights. If, however, it happens unintentionally, I offer my sincere regrets.

References:

https://savanta-confirmit.s3.amazonaws.com/P030200_McKinsey_State+of+AI+2024/the-organization-of-the-future-enabled-by-gen-ai-driven-by-people.pdf