A Midwest business conference reported that organizational culture will change as artificial intelligence (AI) becomes more important.
The conference, hosted by the Shannon Chamber, heard that the rise of AI poses challenges for businesses, but could also bring benefits if implemented correctly.
A team of EY Consulting experts took to the stage at the Future Mobility Campus Ireland in Shannon to discuss and advise Mid-West businesses on how best to unleash the power of digitalisation and harness AI to gain a competitive advantage.
The conference informed attendees that digitalization brings transformation challenges for companies that they must overcome, but that generative AI also brings uncertainty, leaving many companies unsure of where to start and having to balance the potential for competitive advantage with regulatory and legal constraints that may exist.
One of the speakers, Vikram Kunnas, said the benefits to businesses of a fully connected site justify the investment in digitisation software.
“A digitally fluent and skilled workforce is the future and will create new revenue streams for businesses. Both humans and machines will work smarter and there will be less manual intervention,” Kunnas said.
Tim Kush, another speaker at the conference, said 65% of company CEOs recognize the potential of AI in improving productivity.
“Our research shows that 82% of business leaders recognize that their workforce will need new skills for AI, and 76% will initially use AI for administrative tasks. They also understand that while new technologies can be disruptive in the workplace, they also need to recognize that AI will benefit every function and create the energy to drive its adoption,” Kusch said.
Helen Downs, CEO of Shannon Chamber of Commerce, said after the event: “Technology and data are becoming increasingly important to the success of businesses and, as mentioned in the seminar, there will be a need for a new Chief Digital and Transformation Officer role within organisations.”
“Employees need to upskill by investing time in self-learning to a level that is driven internally and not seen as passive resisters of change. The future will be different but exciting,” Downs added.
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