AI Part 2: Exponential value creation requires reimagination
In the last blog, we discovered the power of AI is not in Machine or Human, but truly in the ‘Missing Middle’, which is Human+Machine. Though AI unleashes new level of productivity for Human to be SuperHuman in 3 ways (Amplify, Interact, Embody), actualizing the untapped power requires one to REIMAGINE the business.
Reimagine – Oxford Dictionary Definition
Reinterpret (an event, work of art, etc.) imaginatively
Design Thinking is one of the core constructs for Process Reimagination. It’s an iterative process with a user-centered core to challenge assumptions and redefine problems in an attempt to identify alternative strategies and solutions that may not be instantly apparent. It encourages organizations to focus on the people they're creating for, which leads to better products, services, and internal processes. At the same time, Design Thinking provides a solution-based approach to solving problems. Collaboration across discipline as a way to construct the solution is the key to success with design thinking.
More specifically, Paul Daugherty’s MELDS framework provide a holistic view with focus on ‘Missing Middle’ as a context to reimagining the process.
M – Mindset: This is core to set the tone & culture for the organization, and executives need to showcase and embrace this behavior. The fundamental paradigm shift has to be moving from episodic human-led to self-adaptive process leveraging real-time data. The three-steps are: Discover & Describe, Co-create (How human and machine will do it together), Scale & Sustain
E – Experimentation:Two core concepts for success are: Build-Measure-Learn; Fail Fast
L – Leadership: Research shows we as humans are more forgiving on a human error than a machine error, which create a phenomenon called, “algorithm aversion”. Leadership plays a significant role by establishing appropriate guardrails for the algorithms, human checkpoints, minimize “Morale Crumple Zones”, and consideration for legal & other governance requirements
D – Data:Data is the raw material for AI, and it has to be rich & big. It plays a significant role, and research shows companies with insufficient data will lose in the AI game. An effective data supply chain should focus on wider access, increased variety, increased velocity, enabling discovery and it needs to evolve continuously. Forward looking organizations will promote Citizen Data Scientist to reimagine the missing middle
S – Skill: There are 8 fusion skills Paul identifies as core to be effective when human and machine needs work together within a process to create better outcome than working independently.
- Rehumanizing Time (Increase time for distinctly human tasks like empathy, creativity, etc.)
- Responsible Normalization (Shaping the purpose from business, morale and social perspective)
- Judgement Integration (Ability to decide when the machine is uncertain)
- Intelligent Interrogation (Knowing how best to ask questions to get insights)
- Bot-based empowerment (Working with AI-agents to increase human capabilities to superhuman)
- Holistic Melding (Ability to develop robust mental model of AI agents to improve process outcomes)
- Reciprocal Apprenticing (Working along-side with AI-agents and training other machine & humans)
- Relentless Reimagining (Creating new process and business models from scratch)
Talent upskilling and reskilling decides the AI journey success for any organization. The recommendation is to establish deep partnership with L&D to layout the path for both organic and structured learning to master these new skills. In addition, Business & Technology organizations embarking on AI journey needs to think about a formal change management program to assist the workforce transition to this new way of working.
It’s time to put these concepts to work. In the next blog we will bring to life these core concepts with a usecase and a quick view of technologies that will accelerate your AI Journey.