Why Talent Leaders Need To Capitalize on Generative AI

5 Apr, 2024

8 min read

Generative AI has the power to create opportunities in areas such as automation, augmentation, and optimizing tasks. This may include generating automated case summaries for social workers or giving companies a second chance at customer experience by providing intelligent multi-language chatbots. Generative AI also holds the potential to implement proactive threat analysis in sectors like public safety.

However, to truly maximize the use of generative AI, a crucial strategy needs to be developed for the approach. This is where talent leaders step in, being the key that truly unlocks the full potential of generative AI. First, let’s talk about generative AI and its impact on the tech landscape.

Generative AI: Reshaping the Tech Landscape

All the developments in AI promise there will be a tool to perform every task you ever wished for. But if one had to trade all those tools against a single one, it would be the Generative AI. The ability of the latest AI algorithms to absorb, adapt, and reproduce is raising the eyebrows of tech enthusiasts, business owners, and end-users alike.

Think of it as a business owner. Would you be at peace if your employees were overwhelmed with work, unable to meet deadlines, when they could easily get help from generative AI to get everything in order? A world where programmers will be able to write bug-free code instantly, designers will be able to create stunning graphics, and talent leaders will be able to distribute workload evenly and without compromise.

Transforming Industries with Generative AI: Opportunities for Talent Leaders

There has already been a rise in applications developed through generative AI, causing a seismic shift in the various business sectors around the world. If you talk about its applications in marketing, generative AI can literally help talent leaders create personalized ad campaigns, from storyboards to reference images, etc. Its ability to automate mundane tasks, optimize processes, enhance service delivery, and much more is a blessing in disguise for talent leaders.

In the healthcare industry, talent leaders could benefit from having digital doctors powered by AI to provide faster diagnosis and help people with medical research; founders of an architect firm could likewise lend their designers a helping hand by letting generative AI provide them with blueprints and provide accurate cost of their projects.

That’s just the start, though; in the future, applications of generative AI will be even more mind-boggling. However, this future seems unlikely if talent leaders fail to recognize how they can integrate generative AI into their business models. Let’s figure out why tech leaders need to befriend generative AI:

Why Do Tech Leaders Need to Befriend Generative AI?

AI adoption is hot among talent leaders these days. As AI technologies and applications continue to develop, they hold the potential to completely change “the way we work.” Talent leaders can prevent the AI-powered future from shaking the foundation of their enterprises by identifying skill gaps and fostering an environment that prioritizes innovation.

A recurring theme you’ll find is the mention of “skill gaps” and although this seems easy to understand, there’s a lot that goes behind fixing these issues.

More than 80% of executives around the world believe that there is a massive skills gap in the AI workforce, a study by McKinsey shows.

What does this mean? Well this means that companies lack the necessary expertise to successfully use the power of generative AI and leverage its potential for growth. The reason why it’s becoming a necessity is because it is the future.

Anyone who resists adoption and refuses to fully embrace the AI bandwagon will become outdated. Today, AI is what the Internet was back in the 2000s, mobiles in the 2010s, and blockchain in the 2020s. Even if you don’t use what’s created, it can provide a solid model to inspire your work.

It’s up to tech leaders to incorporate generative AI in some shape or form to successfully launch the start of their business’s next-gen growth. To bridge this gap, talent leaders must adopt a two-pronged approach: upskilling existing employees and hiring new talent with the necessary AI expertise. So, let’s talk about building a successful generative AI strategy.

Building a Successful GAI Strategy is A Collaborative Effort

Talent leaders must actively engage in the development of a generative AI (GAI) strategy to ensure successful implementation. The strategy should align with the goals of the business and should also identify the specific talent needs.

For example, if you would like to install AI-powered chatbots at your website or mobile application, which may assist customers by replying to their queries, then to develop this tool, a team should know how natural language processing (NLP) works and how it can be implemented for the business.

The Ingredients of Sucess – Transparency and Communication

The most important part of implementing GAI is transparent communication with your employees. Since the topic of “AI taking over jobs” is already causing concerns and anxieties, it’s important to establish transparent communication with existing employees. Addressing these concerns goes a long way and impacts the work processes, enabling a smoother transition to implementing generative AI. Make sure it’s known that GAI isn’t replacing human capabilities but enhancing them.

Building Measurement Frameworks: Tracking Progress, Adapting Strategy

After integrating GAI, whether through an application or by hiring experts, the next step is to establish metrics to track its progress. Base the metric on factors such as efficiency, quality of work, and employee/customer satisfaction. Once employees collect and analyze the data, talent leaders can identify areas for improvement and achieve optimal results.

Practical Steps to Get Things Started

The first step in adopting AI is to understand why you need it. Ask yourself this question: Are you willing to invest in the implementation of generative AI for business growth? If your answer is Yes, continue reading.

What you’ve read so far are just the basics, so let’s get down to the practical steps industry leaders need to take to successfully implement GAI in their business models.

Another research by McKinsey, a research firm, showed that generative AI holds the potential to create value at a scale that has never been seen before. Estimated to create $2.6-$4.4 trillion in revenue across various industries, generative AI is the future.

Talent leaders across the United States, like IBM, are already using GAI by implementing the technology into their business models. This not only improves their productivity but also sets them up for success in the future.

But what steps do a talent leader need to take in order to accomplish a successful integration? Let’s start with this:

Skill Gap Analysis

The first step towards getting your business GAI-ready is by conducting a complete skills gap analysis. This will help you identify exactly the skill sets you need for a successful GAI implementation. A skills gap analysis will also identify which areas of your business lack skills like critical thinking, collaboration, and especially AI literacy.

Upskilling and Reskilling Programs

Once you understand the skills your business lacks by creating a skill gap analysis, the next step is to develop an upskilling or reskilling program that’ll help your workforce achieve whatever they set out to in the next-gen world. These programs include:

Internal training programs: There are several AI specialists that have training programs that you can utilize as an in-house training program.
Online courses and certifications: Apart from training programs, there are several online courses in prompt writing and generative AI that your employees can pursue and get certified from. This will not only increase their knowledge but get them up to speed on recent trends.
Mentorship programs: Talent leaders can also pair their employees with experienced AI specialists who are undergoing reskilling programs so there can be a transfer of knowledge alongside guidance in real-time.

Attracting New Talent

In addition to upskilling or reskilling existing employees, attracting new talent with GAI expertise is a valuable tool to complement upskilling efforts. Here are some strategies for attracting new talent:

Highlight AI Innovation: If you are committed to AI innovation, showcasing that in your job postings and recruitment materials is a brilliant way to stand out for GAI experts.
Build Partnerships: Since most universities and training institutes are offering courses on AI and generative AI, you can partner up with them so the students can join you as soon as they are proficient in the course. With a pipeline of qualified candidates, you can have your pick whenever, wherever.
Competitive Compensation: Since AI is a relatively new field on its own, specialists are looking for competitive salaries. Make sure your job postings have that alongside benefits making up for the “perfect package.”

Building a Culture of AI Adoption

AI adoption isn’t just about hiring people and teaching existing employees about AI and its applications. It’s creating a culture that focuses on embracing AI adoption and takes pride in successfully integrating its business model with it.

Embracing AI doesn’t come cheap, though. It can create distaste between leadership and employees, but let’s talk about how talent leaders can overcome these concerns and cultivate excitement within the company:

Focus on AI as an Augmentation Tool: You might already have heard the phrase that “AI will replace humans in the future.” Although talent leaders may not see it as a major concern, understanding how existing employees feel about AI implementation in the business model is important. It’s crucial to communicate that AI will enhance human capabilities, not replace anyone. Amongst its several benefits, employees will not have a helping hand that can take up solving repetitive tasks while they showcase their creativity towards tasks that require that.
New Opportunities, Not Job Displacement: There’s a plethora of new job opportunities that are excitedly created by the integration of GAI in a business model. As AI holds the capability to automate routine tasks, several new roles can take place that require human skills, such as problem-solving and even leadership roles.
Encourage Experimentation and Innovation: Foster a culture of experimentation and innovation with generative AI. Empower employees to explore new applications of this technology within their roles. This allows the creation of a “sense of ownership” while also leading to new discoveries!
Celebrate Success Stories: To truly embrace the GAI experience, talent leaders need to publicly acknowledge and even celebrate specific stories where generative AI showed more productivity and created new opportunities, resulting in a more improved outcome. These success stories reinforce the positive impact of AI and motivate others to explore its potential.

The Future of Generative AI Integration

Signaling a huge shift in the future of work, talent leaders are embracing the integration of generative AI and are preparing their workforce so they can foster an environment where human-AI collaboration is limitless. Now, let’s explore the future of generative AI integration and its impact on the digital world.

Lifelong Learning: With the evolution of AI as can be seen with new conversational models such as Google’s Gemini AI, Claude AI 3, and OpenAI’s ChatGPT 4, the culture of “lifelong learning” is upon us. Talent leaders must motivate their employees to update their skill sets through training and professional development opportunities.
Focus on Human-AI Synergy: The true untapped potential of generative AI lies in the sync between human capabilities and AI capabilities. Excelling at creativity, empathy, and strategic thinking, humans can merge with AI capabilities, such as data analysis, pattern recognition, and automation, to create strengths that are uniquely impressive. Generative AI allows you to double your workforce by equipping your employees with ‘another brain.
The Rise of the Human-AI Specialist: With the rise of generative AI, there will be a new breed of creativity as professional Human-AI specialists will take charge. These specialists will possess several technical skills related to AI, enabling efficient communication and a strong work ethic. Acting as a bridge between the human workforce and AI systems, these professionals will make integration seamless.
The Ethical Imperative: With the release of any powerful technology, there have always been ethical considerations related to it. Talent leaders must take responsibility for ensuring the ethical use of generative AI, addressing concerns like smartphones stealing ‘the human experience’ and sports cars contributing to carbon emissions. This responsibility includes addressing potential biases within algorithms and ensuring data privacy.

Getting Started with Generative AI in Your Business

Do you feel like your business is far from adopting the current paradigm shift in technology? Are you one of those businesses that are eager to jump on the AI bandwagon but don’t know where to start? Don’t worry, you are not alone.

As technology advances every day, many businesses, like yours, feel left behind. But now is the perfect time to make a decision—a decision that will change your business’s future. Making peace with the fact that having a human-AI workforce is how businesses will work in the future is not a choice anymore; it’s a decision. If there is still some confusion regarding where to stay, don’t worry—there is a one-stop solution.

Cubix has stamped its name as a top-rated software development company in the United States, being at the forefront of AI-driven innovation. It’s not the 15 years of experience in delivering solutions that transform industries that make Cubix what it is; it is the expertise to develop next-gen AI solutions that talent leaders should look into.

Whether you are from the financial services industry looking for an AI-powered finance management software solution or an enterprise owner seeking a smart ERP solution for all your business automation and management needs, Cubix is the place. We are passionate about helping global brands and enterprises take the next digital step, leverage AI to meet their needs, and transform their respective industries. Ready to take charge of the future with your AI-powered custom software solution? Contact our AI software development geniuses and take the lead in the AI-first landscape!