Businesses unsure of how to survive the next global tragedy need not worry, with new research showing how artificial intelligence (AI) can help organizations survive in an era of rapid change.
New research led by Charles Darwin University (CDU) explores how AI can predict what factors will impact an organization's ability to predict, prepare for, respond to, and recover from economic disruption. We investigated.
Data was collected from 44 industry participants from the private and public sectors, service organizations, universities and not-for-profits across Australia.
Respondents, most from the education, information technology, hospitality and tourism, and construction and engineering sectors, were asked about their organizations' current agility and future challenges they may face.
eXplainable artificial intelligence technology examined the data and predicted the top five factors impacting organizational agility. These are legal and governmental changes that force organizations to change, globalization, low process maturity, technology, and digital disruption.
Lead author and CDU Associate Professor Niusha Shafiabady says that by using AI to emphasize factors such as these, organizations can make faster decisions, deliver competitive advantage, and rapidly He said it will allow them to adapt to changing environments.
“Failure to prioritize agility and responsiveness can lead to increased costs, missed opportunities, reduced competition and reputation, and ultimately loss of customers, revenue, profitability, and market share.” Associate Professor Fiabadi said.
“The COVID-19 pandemic has highlighted the importance of organizational agility and resilience.
“Organizations that can adapt quickly to change, anticipate and prepare for disruption, and respond and recover effectively are more likely to succeed in today's volatile business environment.”
Associate Professor Shafiabadi said that if organizations want to make more use of technology, they can deploy AI systems that provide specific advice.
“With this methodology, AI can provide personalized recommendations on the areas companies should focus on to become more adaptable, depending on the dynamics of each company,” she said.
The research was completed in collaboration with the Adelaide Institute of Higher Education, Torrence University and the University of Technology Sydney.
A new paper explores how AI can be used to predict organizational agility and a company's ability to respond effectively to changes brought about by factors such as market competition, economic pressures, and emerging technologies. It follows previous research led by Associate Professor Fiabadi.
Explainable Artificial Intelligence (XAI) for Improving Organizational Resilience was published in PLOS ONE.
