Leadership Futures: How AI is rewriting the rules for Industry 5.0
The L Factor team recently attended a conference designed by long-term client, Henley Business School. Here’s everything they learned about how AI is going to command a new human algorithm of people, purpose and technology for tomorrow’s workforce.
Thanks to AI, Industry 5.0 is “reshaping the business landscape, demanding a radical rethink of strategies and practices.” So if you’ve noticed how your go-to playbook hasn’t been gaining the reliable results you know its capable of over the past 1-2 years. You have AI to thank for that.
Leaders and teams around the world face an urgent challenge unique to today’s workplace:
The ethical use of AI: from branding, to IP and the ambiguous un-inclusive data sets behind it
How to build a people-first workforce as technology drives major changes from the hiring process, to daily use
What human progress looks like with a focus on human-machine collaboration
How to create the right infrastructure for meaningful business and the power of collective impact in the era of automation.
Notable keynote speeches included that of:
Alex Tatham
Lord Chris Holmes, MBE
Paul Lindley, OBE and Chancellor of University of Reading
So what does the future of work look like? Will it be a blend of people embracing technology? Or – people replaced by technology?
Critical findings of Henley’s research on Industry 5.0
Kicking off the day, Dr Naeema Pasha, Visiting Fellow at Henley Business School shares a dark sentiment:
Today’s graduates are finding it hard to get a job because of AI.
Dr Pasha urges the audience to start thinking about:
How workforces can collaborate with AI in the picture, as opposed to it replacing an entire workforce
What does meaningful work now look like?
She believes that Industry 5.0 should be a human-machine collaboration. And urges us to think about how to be more responsible in our use of AI, and what a people-first future will look like.
Why corporate ecosystems need to be redesigned for us to catch up with technology advancements
With technology changing what the workplace looks like, Paul Lindley believes that in order to address the challenges of the modern workplace, corporate ecosystems need to be redesigned.
The main challenge? Lack of trust. Why? Companies don’t exist per se – it’s the people behind them who do. We buy from people we trust. Business, Lindley says. Is all bout psychology, economics and the people behind it.
He suggests that in order to measure success, metrics need to change. Lindley also suggest the use of:
Anti shareholder for equal footing
EMIC Price if you’re based over in the US
B Corp if you’re based in the UK
Without the right people behind it, technology can only get us so far.
The AI promise versus the people paradox
“Computers now speak human”. Alex Tatham kicks off his keynote speech with a famous quote by Nvidia Founder, Jensen Hang.
If you’re in the business of automation for efficiency, or exploring and learning with AI. Tatham believes that we’re more at risk with zero augmentation. So, he urges senior leaders with shiny AI syndrome to resist the urge and think about having a strategic AI roadmap, with a policy in place to make sure that everyone is using AI in the right way.
‘The right way’ in this case refers to making sure that your IP and the money you’ve invested in your brand does not get tarnished by your use of AI. You’ll also want to keep an eye on the way your team crafts their prompt engineering, and label clearly what was generated by AI, and what wasn’t.
To keep things in check, Tatham suggests:
Making sure that there’s a human at the end of your AI workflow, editing and fact-checking all AI output
Having a transparent AI usage policy
Keeping it a blend of AI thinking, and human collaboration
Not to forget your marketing ethics compass
We suggest using specific metrics to measure the success of your AI usage as you experiment with it. Tatham ends his keynote speech reminding us that AI, poorly adopted, can ruin a brand.
How can something be inclusive without having all the necessary voices?
Perhaps one of the most notable keynote speeches, is that of Lord Chris Holmes on ‘Realising and Regulating the Benefits of AI’.
Delivered might we add, without a powerpoint, and a lot of (actually funny) jokes.
Lord Holmes starts with a big question: How can something be inclusive without having all the necessary voices?
He states that: Human leads the creation of these technologies. But what do we lead with AI in the picture? That, Lord Holmes suggests, has gone from something with clarity – to something with uncertainty. Why?
Legislators can’t keep up with the changes that AI is pioneering. Unsurprising, perhaps given the old style approach they have to policy making. Nevertheless, th eUK was the first G7 nation to get an AI policy through parliament.
There are also rising differences: from cross sector barriers, to domain specific ones. And the lack of consensus on AI use. Not to mention IP challenges. Then, there’s fraud. Economic and cyber crime is in fact the third largest economy.
Our Strategic Partnerships Director Justine Lou got the chance to ask Lord Holmes about the implications of IP when it comes to the use of generative AI – ”We’re clearly not doing enough in our workflows and datasets in order to address the lack of diversity and inclusion in AI’s output; what more can we be doing?”
To which, he suggests don’t think person, think function. Be intentional about what we accept that is created by the AI. It’s down to us to be accountable with data, workflow and fact-checks. And, to ensure inclusivity in our design and accessibility for all. In the era of AI – ethics will be what makes a brand standout.
Navigating the future of work? Let us help
If you’re navigating challenges such as cultural shifts that come with scaling up, or nuances that come with opening a new office half way round the world. You don’t have to do it alone.
Our brand new leadership advisory practice can help you at every step of the way. So that you’ll be confident that your workplace culture and performance is in tip top shape. Get in touch today to find out how we can help.