Editorial
In a world where generative AI can create marketing copy or even code, its potential impact on jobs shouldn't be underestimated. As Harvard Business School professor of management practice and co-leader of the Managing the Future of Work Initiative Joseph Fuller said, “Once companies learn how to exploit generative AI, we can anticipate rapid restructuring at many companies that involve substantial cuts in white collar staff.”
Given this, you'd expect workers to react like Luddites, the 19th century textile workers who destroyed weaving machines as a protest against the unfair labor practices automation caused. And though the strikes in Hollywood include generative AI in their lists of grievances, an EY survey found workers complaining that employers are moving too slow to embrace generative AI and other disruptive technologies.
Workers Grok the Impact of New Tech
The EY survey found eight out of nine employees see value in emerging technologies, including artificial intelligence/machine learning, augmented reality (AR)/virtual reality, digital twins, edge and quantum computing, and biometrics. In fact, 89% of US workers believe adopting emerging technologies will be beneficial for their company. At the same time, they believe their senior leaders are being too slow to embrace these technologies.
A majority of the respondents (59%) think that senior leadership are slow to embrace market-changing technologies. Fifty-two percent believe that these technologies will be outdated by the time their company does adopt them. Nearly half (48%) believe senior leaders do not see the value of adopting them. If true, these businesses would miss out on a big opportunity. As Columbia Business Professor Rita McGrath said, “Inflection points have the power to change the very assumptions on which organizations were founded …. And when an inflection point is missing, the entire organization can crumble or become irreverent.”
Related Article: Report Reveals Workers Most 'Exposed' to AI
Employees Enthusiastic About the Promise
Employees have overwhelmingly positive reactions about how emerging technologies can impact their jobs. Gen Z and millennial employees are more likely than other generations to say they use generative AI to draft emails. The generational divide breaks down as follows:
- Gen Z — 24% use generative AI to draft emails
- Millennial — 27%
- Gen X — 12%
- Baby boomers — 6%
The older you are, the more likely you are to be what Geoffrey Moore called a laggard. Therefore it's unsurprising that newer employees were more likely to say senior leadership does not see the value of adopting emerging technology. Here the breakdown was 58% for Gen Z and 53% for millennial vs. 42% for Gen X and 42% for baby boomers.
“Today’s workforce is anxiously awaiting tomorrow’s digital capabilities,” said Faisal Alam, EY Americas Consulting Emerging Technology Leader in a statement issued with the study's release. “Though leaders acknowledge how new technologies can transform their business, they need to also be aware of employee perceptions around the slow pace of adoption, and the barriers and risks that could undermine efforts.”
Employees were overwhelmingly favorable towards generative AI, believing it could improve the efficiency (61%), speed (62%) and productivity (60%) of their current day-to-day work.
Strategies for CIOs and CEOs
CIOs and business leaders need to let employees experiment. They'll find new ways to improve processes and productivity through these experiments. But first they need the support to access and play with new technology and encouragement to challenge the status quo. At the same time, CIOs and CEOs should challenge them by pairing their ambition and insight with processes. One method that would work here is the venture factory process, which vets new ideas and then gives resources and funding to bring the viable ones to life.
Part of this might entail some personal change on the CIO and CEO's part. They need to develop an openness to new ideas and the ability to listen, learn and remove obstructions standing in the way of their change leaders.
Related Article: Change Management in the AI Age: Sidestepping Common Mistakes
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Employees Clear-Eyed About Gen AI Risks
You've pulled some great ideas from the eager change agents in your midst — awesome. But before jumping in, it's time to consider the risks that come with new technology. Employees say they are cognizant of the risks, with cybersecurity being one of their biggest concerns. They want cybersecurity training for new technologies but that, ultimately, the high cyber risk will not stop them from adoption.
Beyond cybersecurity risk, employees worry about ethical and moral issues. This is especially the case with AI and ML. They also worry about a skills gap, or shortage of skilled employees to use the technology, which again was most problematic among those familiar with AI and ML. Opportunities for training and upskilling were deemed "insufficient" by respondents.
In spite of these challenges, employees are still eager to explore new technologies. Now it's the turn of CIOs and CEOs to lead by example, and adopt a learning mindset when it comes to disruptive technology. Set your employees up to experiment and watch as they find new ways to work. The risk of being late to the game is just too high.
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