The Impact of Generative AI in Business and HR: The Next 365 Days Are Crucial for Readiness

In a recent interview, Bill McDermott, CEO of ServiceNow, said “every company in the world and every workflow for every company in every industry will be reengineered in [the next] 24 months… This is a tsunami of change, and only the smart ones are going to recognize: I have to plant the flag now, whether the story is complete or not is not the issue.”

Don't wait to be fully ready. Don't wait for the competition to outsmart you. Don't wait for a one-person company fully using AI to disrupt you. Plant the flag, now!

Generative AI will create a tsunami of business transformation of the sorts we have never seen before. If we think that the COVID pandemic accelerated change in radical ways, the speed of the impact of GenAI will probably blow your mind. But I hope it actually doesn’t blow your mind and catch you by surprise, because as opposed to how shockingly unprepared we were for COVID, right now we are a great time to get ready for the impact of GenAI.

The next 365 days are crucial to get ready. And this is by no means a joke or an exaggeration. It is an unstoppable and inevitable truth: the developments in Generative AI will continue to accelerate and so the impact it will have on every business function and every function workflow. You must act now, and wisely and effectively use the next 12 months to prepare your organization and people for this tsunami.

Organizations and business leaders who fail to recognize the opportunities and risks of GenAI, and fail to integrate the technology into their operations risk quickly falling behind their more adaptable existing competitors, or new competitors that will certainly emerge. Someone said recently: “the next one-billion-dollar unicorn will be a company of one employee fully using AI”. Imagine that.

Without a doubt, the next 365 days will be a critical period for businesses to understand, plan, and implement Gen AI strategies to stay ahead of the curve and reap the benefits of this transformative technology.

But why is Gen AI such a game-changer?

In simple terms, GenAI (and tools such as ChatGPT) will revolutionize the way we work, make decisions, and interact with technology, across all aspects of business units and operations. Gen AI can automate routine tasks, freeing up valuable time for employees to focus on more strategic and creative endeavors. It can analyze vast amounts of data and provide insights and recommendations that would take humans countless hours to uncover. Moreover, Gen AI can help businesses become more efficient, productive, and innovative by streamlining processes, optimizing resources, and enabling data-driven decision-making.

There won’t be a single business function, a single workflow or a single role that will not be impacted by AI. But, this is the key: “AI will not replace jobs (or organizations), a human (or an organization) using AI will!”.

The key to successfully harnessing the power of GenAI lies in understanding its capabilities and limitations. It's not a magic solution that can solve all your problems with a single click. Like any tool, it requires proper planning, implementation, and ongoing management to yield the best results.

That’s why it is essential to approach GenAI with a strategic mindset, carefully considering how it can be integrated into their existing processes and systems, and how it can be leveraged to achieve their specific business goals.

So, what can you do to prepare your business and HR department for the GenAI revolution?

Readiness Roadmap

Here is a roadmap for readiness that covers the next 30, 60, 90, and 180 days:

The Next 15 Days:

• Get your senior leadership team to embrace a sense of urgency around Generative AI and the impact on your organization. Have them commit to investing resources (money, time, etc.).
• Identify key leaders and decision-makers within your organization who will be critical in driving the adoption of GenAI. This may include executives, department heads, and influential managers.
• Schedule a series of meetings or workshops with these leaders to discuss the potential impact of GenAI on your business and HR processes. Use compelling case studies, industry reports, and expert opinions to demonstrate the urgency and importance of embracing this technology.
• Develop a compelling business case for investing in GenAI, highlighting the potential benefits, cost savings, and competitive advantages it can bring to your organization. Be sure to address any concerns or objections that leaders may have, such as the cost of implementation or the impact on existing jobs.
• Create a sense of urgency around the adoption of GenAI by emphasizing the rapid pace of change in your industry and the potential risks of falling behind competitors who are already leveraging this technology. Use data and examples to illustrate how GenAI is transforming businesses and driving innovation.
• Secure buy-in and commitment from key leaders to prioritize GenAI initiatives and allocate the necessary resources (budget, personnel, and technology) to support its implementation. Establish clear roles and responsibilities for driving the GenAI agenda forward.
• Develop a high-level roadmap for the next 12 months, outlining the key milestones and deliverables for integrating Gen AI into your business and HR processes. Share this roadmap with leaders and stakeholders to ensure alignment and shared understanding of the path forward.
• Identify a dedicated team or task force to spearhead the GenAI initiatives, consisting of representatives from various departments and functions. Empower this team to take ownership of the planning and implementation process, and provide them with the necessary support and resources to succeed.

The Next 30 Days:

• Educate yourself and your team about Gen AI, its potential applications, and its limitations. Conduct workshops, webinars, or lunch-and-learn sessions to raise awareness and foster a shared understanding of the technology.
• Identify areas within your business and HR processes where Gen AI could have the most significant impact. This could include tasks such as resume screening, employee onboarding, performance evaluations, or talent acquisition.
• Assess your current technology infrastructure and determine if it can support Gen AI integration. Consider factors such as data storage, processing power, and cybersecurity measures.
• Start small by experimenting with simple Gen AI tools and applications to get a feel for how they work. This could involve using chatbots for customer service or implementing AI-powered scheduling tools.

The Next 60 Days:

• Develop a comprehensive Gen AI strategy that aligns with your business goals and objectives. This should include a clear vision for how Gen AI will be used, what outcomes you hope to achieve, and how you will measure success.
• Identify key stakeholders and decision-makers who will be involved in the implementation process. This may include executives, IT personnel, HR professionals, and department heads.
• Allocate resources (budget, personnel, and technology) to support your Gen AI initiatives. Ensure that you have the necessary funds, skills, and tools to effectively implement and manage your Gen AI projects.
• Begin pilot projects in selected areas to test the effectiveness of Gen AI and gather feedback from users. Start with non-critical processes and gradually expand to more significant areas as you gain confidence and experience.

The Next 90 Days:

• Analyze the results of your pilot projects and make necessary adjustments to your Gen AI strategy. Use the insights gained to refine your approach and optimize your implementation plan.
• Expand the implementation of Gen AI to other areas of your business and HR processes. As you scale up, be sure to maintain open communication with employees and provide adequate training and support.
• Provide training and support to employees to ensure they can effectively use and interact with Gen AI tools. This may involve developing custom training programs, providing access to online resources, or partnering with external experts.
• Continuously monitor and evaluate the performance of your Gen AI applications to identify areas for improvement. Establish metrics and KPIs to track progress and measure the impact of your initiatives.

The Next 180 Days:

• Fully integrate Gen AI into your business and HR operations, making it a core part of your day-to-day processes. Ensure that Gen AI is seamlessly incorporated into your workflows and that employees are comfortable and confident in using the technology.
• Establish metrics and KPIs to measure the impact and ROI of your Gen AI initiatives. Regularly review and analyze these metrics to assess the effectiveness of your Gen AI projects and identify areas for optimization.
• Foster a culture of innovation and continuous improvement, encouraging employees to find new ways to leverage Gen AI for better results. Create opportunities for employees to share their ideas and experiences, and recognize and reward those who demonstrate leadership and creativity in using Gen AI.
• Stay up-to-date with the latest developments in Gen AI and explore new applications and tools that could benefit your business. Attend industry conferences, participate in online forums, and collaborate with other organizations to stay at the forefront of the Gen AI revolution.

The Next 365 Days:

• Refine, iterate, advance.

We are in the cusp of one of the most radical accelerations in business transformation in history. What is going to happen in the next 12-24 months is unparalleled to any of the previous technological or industrial revolutions, and even the COVID pandemic.

The next 365 days are a critical period for businesses to embrace and integrate Gen AI into their operations. The proposed roadmap for readiness is a just a starter to get your company to take full advantage of the opportunities that Gen AI presents while minimizing the risks and challenges associated with its implementation.

One important note: the key to success with Gen AI is to start small, break down complex problems into manageable chunks, and continuously iterate and improve based on feedback and results. Don't try to do everything at once; instead, focus on a few high-impact areas and gradually expand your efforts as you gain experience and confidence. However, don’t lose sight of the big goals and the overall impact of AI in your business: operations and people.

Another crucial aspect of successfully implementing Gen AI is to involve your employees throughout the process. Engage them in the planning and decision-making, provide them with the necessary training and support, and encourage them to take ownership of the technology. By fostering a culture of collaboration and innovation, you can unlock the full potential of Gen AI and empower your employees to drive your business forward.

The Gen AI revolution is here, and the time to act is now.

Don't let your business get left behind in the race to adapt and thrive in the era of Generative AI. Embrace the change and unlock the full potential of Gen AI for your organization. With the right approach and mindset, Gen AI can become a powerful ally in driving your business and HR processes to new heights of efficiency, productivity, and innovation. This is not a nice-to-have, but an imperative if you expect to stay in business over the next months and years.

Start your Gen AI journey today and position your business for success in the exciting times ahead!

By Enrique Rubio (he/him)

(Note: I write fast, speak fast and read fast. Sometimes - often times - I don't see the typos! Please let me know if there are typos or grammatical misconstructions in my write ups. It happened to Shakespeare, it certainly can happen to me. Do so with kindness, compassion and grace, though. I appreciate it!)

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