Embracing AI for strategic decision-making
One of the key aspects of moving in the direction of a more autonomous enterprise is the role of the leader. While they still set the goals and objectives, their role shifts to that of a steering mechanism rather than being directly involved in decision-making. This is similar to an autonomous car, where the driver sets the destination but allows the car to make decisions based on real-time data and constraints. In the case of the autonomous enterprise, leaders set goals in areas such as marketing and customer service, and these goals are translated into automated decisions made by AI engines.
The shift towards automated decisions is driven by the recognition that humans are not always the best at making certain types of decisions. In areas such as marketing, humans may be right as often as they are wrong, which is not ideal for running a multi-billion dollar enterprise. By leveraging AI and automation, businesses can improve the accuracy and effectiveness of decision-making.
However, it is important to note that the role of humans in the autonomous enterprise is not eliminated. Instead, it becomes more strategic. Leaders are responsible for setting the boundaries and objectives for automated decisions, and they monitor progress towards those objectives. This requires a shift in mindset from focusing on every single minutia to defining what needs to be achieved and monitoring progress towards those goals.
Another benefit of embracing AI for strategic decision-making is the ethical aspect. AI and automation can be designed to be transparent, fair, and free from biases. This is not easily achievable with purely human-based decisions. By building ethics into automated systems, businesses can ensure that decisions are made within ethical boundaries, such as accepting people for loans based on fair criteria. This can help businesses avoid fines and other legal consequences associated with unethical decision-making.
To improve adoption of AI, businesses can take a left brain, right brain approach. This means combining data-driven decision-making with human intuition and creativity. By utilizing data and analytics, businesses can make more informed decisions and identify patterns and trends. However, it is also important to recognize the value of human intuition and creativity in areas where data may be limited or incomplete.
Overall, embracing AI for strategic decision-making is a crucial step for businesses in the era of digital transformation. It allows for greater efficiency, effectiveness, and customer satisfaction. By leveraging AI and automation, businesses can optimize processes, make more accurate decisions, and ensure ethical boundaries are respected. The autonomous enterprise represents the future of business, where humans and machines work together to achieve shared goals.