Exploring the New Era of AI Transformation

Welcome to the inaugural issue of?Mindshift, RGP’s new LinkedIn newsletter!

We’ve created Mindshift to connect you with the most visionary voices in business. Each month we will highlight a unique futurist who challenges us to think differently and to drive innovation in a rapidly changing world.

A Conversation with Lili Cheng

The swift pace of transformation resulting from AI is a positive not just for the companies developing it but for the companies using it, says Lili Cheng, Corporate Vice President at Microsoft, where she leads the Emerging Technology Group in the Cloud and AI division for business applications.

Cheng recently spoke to Mindshift about how organizations can reap the maximum benefit from AI.

What are the key things that need to be done at the very top of an organization to benefit from AI??

Organizations need to be open about how it can benefit them, thinking beyond the obvious — the low-hanging fruit, if you will — and invest in it accordingly. The most senior people in an organization need to recognize that AI isn’t just about execution but also needs to be part of their strategic planning.

Is this about changing the way an organization views AI, or is it about the changes in AI itself?

Both. AI is not new, and up until recently, most companies probably were using it in an execution mode — chatbots for customer service, improvements in manufacturing, data management. They probably didn’t even think about those uses in the context of AI. But now, AI can do so much more. Not just in terms of speed but also in the range of capabilities it has and the departments and functions that could benefit from it. AI can transform business models to create huge opportunities.

Do you have a sense of what those new business models might be??And/or what will be necessary to turn AI into an engine for revenue growth?

There won’t be just one business model, but I think they will all have a few things in common. They will be more data-oriented in a positive way. That means looking at different kinds of data and using data not just in a retrospective way but to make more future-oriented decisions with a higher degree of confidence. People use data now to make future-oriented decisions, but going forward they’ll have more choices because of AI’s ability to gather and analyze data, so they can make better bets because of it.

Let’s say you ask AI to model outcomes. It will have more data to use and can produce more options that you can choose from. And that’s where human judgment will come in. It will be in making the choices, thinking through the implications of each possible scenario.?

Read our full interview with Lili Cheng ?

AI Investment Remains Significant

RGP’s latest pulse survey of U.S. senior financial decision-makers reveals how the Fed’s September rate cut is impacting workforce strategies and investment priorities.

• 49% said a growing urgency to better leverage AI and automation could have the biggest impact on their investment in workforce development in the next 12 months.
• 65% believe AI will account for less than 10% of job elimination within their organization in the next two years.
• 47% expect AI to account for 11% to 30% of job creation in the same period.

The poll of senior financial decision-makers in U.S. companies with $500 million in revenue was conducted after the Fed’s September meeting.

Read the full research summary ?

Where to Prioritize AI Investments for Successful AI Implementation?

With AI investment growing so large, one of the biggest challenges organizations must navigate is the significant gap between ideation and execution. A successful AI implementation hinges on an organization’s ability to overcome this gap by prioritizing the initiatives that make the most practical sense when evaluating these three factors.

Reskilling & Upskilling: Why AI?Innovation Requires an Investment in People

Artificial intelligence and related capabilities can inject your business with superpowers for growth and innovation—greater speed, efficiency, accuracy, visibility, and more—but only if your employees have the right skills to take advantage.

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