Social media technology is changing how managers and employees communicate and is breaking down traditional corporate heirarchy. To gain advantage from this trend, executives must recognize the value of dialogue and employees need to know that their leaders won’t punish them for expressing dissenting opinions. Executives will also need patience and a thick skin — but leaders who invest in truly open dialogue with their workforce will reap the long-term benefits.
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The ability of artificial intelligence to sift through mountains of data and identify patterns — and problems — in real time is its key value for business. Using AI to predict failures and take action to prevent them will become commonplace in the very near future. But it can also offer insights into human behavior to help managers improve customer service and employee relations.
In business, it’s costly to try something new, especially if it doesn’t work out. But in the digital era, technology can be deployed to augment the creative abilities of people and organizations. Today’s digital technologies have reached a level of maturation that enables cheap and rapid iteration to make new, invaluable forms of innovation possible.
As digital technologies evolve, managers and employees will need to learn three important skills: partnering with new digital “colleagues,” creating a mindful relationship with omnipresent digital technologies, and developing empathy for the varying technology preferences of their human coworkers. Organizations, for their part, will need to design processes to support these efforts, and managers will need to be both flexible and thoughtful in how they respond.
Although it’s unlikely that a single system will be able to handle all strategic decisions, the narrow intelligence that computers display today is already sufficient to handle specific strategic problems.
Artificial Intelligence is about to transform management from an art into a combination of art and science. Not because we’ll be taking commands from science fiction’s robot overlords, but because specialized AI will allow us to apply data science to our human interactions at work in a way that earlier theorists like Peter Drucker could only imagine.
We are just at the beginning of the transformation from an economy dominated by human workers to one dominated by electronic workers. The great management challenge of the next few decades will be understanding how to get the best out of both humans and machines, and understanding the ins and outs of who manages whom.
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