Artificial Intelligence is changing the way decisions are made in business. It controls many business drivers like product design and prices, ads presented to you, even conversations you have. AI connects more dots in the market than ever before, uses a complete scientific approach with deciding what is the best next step, whilst planning 20 more steps ahead. Obviously these 20 more steps are constantly being evaluated based on all input collected. New products will rocket-launch and often will go viral.
Leadership Requirements
AI allows organisations to reach and communicate with exponentially more customers compared to traditional ones. Demand for products can increase virally, scalability of operations is crucial. Besides products, also the generation of complaints can go through the roof in case something unplanned happens. Even when the intend is positive, the potential downside can be significant. Unconstrained growth is dangerous. Leadership will have to put a multi-disciplinary governance structure in place with ultra short response times, and a high focus on legal and privacy issues, including cybersecurity. Agile work routines as well as product development (design thinking) will be leadership’s daily bread and butter.