Technology transformations
gettyRead enough analyst reports and trade publications and attend enough conferences, and one can assume that every business on the planet is now fully immersed in and running operational and productive AI. However, it appears that only nine percent of companies are fully leveraging technology at the core of their next phases of advancement, a new overview outside Accenture findings.
That tech-savvy nine percent, however, is moving ahead of the pack in business development. These executives indicate that they are “putting technology at the center of a strategic reinvention of their business based on data, artificial intelligence and new ways of working.”
They learn techniques and lessons that the other 91% must consider when developing their technology-focused business strategies. And these are lessons we need to learn quickly – there will be a significant rise in business leaders using genetic AI as a catalyst for strategic reinvention in the next 12-24 months, Accenture’s survey of 1,500 executives predicts.
Nearly half (46%) of the top nine percent have significantly accelerated their execution of strategic reinvention, compared to only 7 percent of their least advanced peers. And the majority, 65%, expect to see results within the next year.
Income growth among the top nine percent is expected to outpace that of everyone else. They already grew incomes 15 percentage points more than the rest of the survey respondents between 2019 and 2022. The gap in income growth between these experienced technicians and the rest will likely widen by 2.4 times to 37 percentage points by 2026; Accenture reports the team predicts. Additionally, the Top Nine Percent are twice as likely to see productivity gains of 20% or more over the next three years. “The widening performance gap creates an imperative for other organizations to find new ways to further accelerate their reinvention,” they say.
Here’s what the Top Nine Percent understand about the transformative impact of AI and other technologies:
Generative AI is strategic. “Reinventors are going further, using genetic AI to reinvent more strategic areas of business. New features are being introduced at an unprecedented rate. Across the technology ecosystem, new foundation models are being introduced almost weekly, driving increased customer interest and adoption.”
Generative AI is unique. Technology demonstrates an “ability to impact the entire value chain and drive both productivity and growth in a way that can push back the limits of efficiency.”
We have to look at it holistically. “The only way to use genetic AI to achieve reinvention is to pair it with other technology. To change what they do — their processes and how they approach talent. All these.”
It’s all about reinvention. “Generative AI has become an extraordinary force enabling the reinvention and acceleration of organizations’ progress towards a new frontier of performance. Technology is the top driver of reinvention for 98% of organizations, with genetic AI now seen as one of the top drivers for 82% of these organizations.”
It’s all about the people. Perhaps most important of all, people must be at the core of all technology-based transformation strategies, as they are what make it all happen. “Build strong change capabilities that don’t change by function or partner, and that put people at the center, so you understand the impact of genetic AI on all aspects of people and their experiences,” urges the Accenture team. “Prepare workers for the creation of artificial intelligence by implementing continuous learning initiatives to ensure they have marketable skills and actively engage them in change.”
