AI can enormously increase the degree of predictability in organisational functions, especially HR.
When Steve Jobs paced the stage in January 2007 introducing the world to his latest creation, the iPhone, not a single observer reacted by saying, “Well, it’s curtains for the taxi industry!” Fast forward to 2018 and that appears to be precisely the case. Smartphones evolved from a music-browsing-communication device to an indispensable platform for tools that are fundamentally altering all manner of industries.
Even Andy Grove, who famously quipped that “only the paranoid survive” would have to admit that one would have had to have been unusually paranoid to have foreseen how far and wide the smartphone would reach into so many well-established industries.
Recent developments in artificial intelligence (AI) and machine learning have convinced us that this innovation is on a par with the great, transformative technologies of the past: electricity, cars, plastics, the microchip, and the smartphone. But, as with these past transformations, it is critical to identify just what is at the heart of this new technology. Despite media and popular culture images of human-like robots and superintelligent computers, the core of recent developments in machine intelligence is something seemingly more pedestrian: a major advance in the ability of machines to predict. Prediction is the process of using the information you have to generate information you do not have. We use this new information to make decisions, both ordinary and critical. And, the prediction is about to get even better, faster, and cheaper than it ever was.
You may not realize it, but the prediction is everywhere. Bankers predict when they assess who will pay back a loan. Doctors predict when they diagnose a disease. Translators predict when they move from one language to another. Every time you make a decision under uncertainty, you make a prediction. Better, faster, and cheaper prediction means more effective decision-making. This will be transformative.
This story is from the April 2019 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 2019 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Trust is a must
Trust a belief in the abilities, integrity, values, and character of any organisation is one of the most important management principles.
Listen To Your Customers
A good customer experience management strategy will not just help retain existing customers but also attract new ones.
The hand that feeds
Providing free meals to employees is an effective way to increase engagement and boost productivity.
Survival secrets
Thrive at the workplace with these simple adaptations.
Plan backwards
Pioneer in the venture capital and private equity fields and co-founder of four transformational private equity firms, Bryan C Cressey opines that we have been taught backwards in many important ways, people can work an entire career without seeing these roadblocks to their achievements, and if you recognise and bust these five myths, you will become far more successful.
For a sweet deal
Negotiation is a discovery process for both sides; better interactions will lead all parties to what they want.
Humanise. Optimise. Digitise
Engaging employees in critical to the survival of an organisation, since the future of business is (still) people.
Beyond the call of duty
A servant leadership model can serve the purpose best when dealing with a distributed workforce.
Workplace courage
Leaders need to build courage in order to enhance their self-reliance and contribution to the team.
Focused on reality
Are you a sales manager or a true sales leader? The difference, David Mattson, CEO, Sandler® and author, Scaling Sales Success: 16 Key Principles For Sales Leaders, maintains, comes down to whether you can see beyond five classic myths that we often tell ourselves about selling.
