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Business, AI and Big Data...?
The growth of AI and 'Big Data' in Business Leadership
The rise of AI and talk of Big Data has been a hot topic in boardrooms around the world, and is inevitably impacting the way that business is done, but what does it mean for the average person?
As with every new development, there are two camps who react very differently to the growth of AI and Big Data: these can generally be described as…
- “This will change everything / is the future / will revolutionise the workplace – and (of course) get us a place at the top table!!
- “This is dangerous and will drive people out of work / replace creatives / be used to manipulate people!”
The reality is more likely to be somewhere in the middle, and it’s hard to write a balanced article without my own implicit bias (both conscious and unconscious!) shaping what I want to say! I will do my best to remain objective, and am interested to hear differing perspectives as these two giants of industry continue to shape our world.
Before we look at the positive and negative impacts of AI or Big Data on the world of business it’s probably helpful to define what I mean by those terms, in this context:
AI – artificial intelligence – is a broad field of computer science designed to create content or systems to perform tasks that formerly required human intelligence. There are many uses for AI, which include learning, problem-solving, decision-making, and most commonly for creating images, video or text from basic prompts. Over time, AI systems learn from data, adapt to new situations, and now even exhibit human-like abilities like creativity and reasoning.
Big Data is a term used to describe massive, complex datasets which more traditional processing tools can’t easily manage or analyse. Usually characterised by their volume, speedy generation, variety and accuracy, Big Data is used by many businesses to gain insights, make predictions, and improve decision-making.
Both are growing more common in everyday business practice, and though a lot of people remain wary about using tools like AI, or the impact it may have on creative industries, there’s really only one direction things will go!
Both, however, still rely on the information they can access – and the learning that they can do over time. Every moment, people are inputting data or information into the technology, and the capabilities of what can be produced continue to evolve. The morality and ethical gathering of this data is often in question, and challenges come from many quarters to protect copyrighted content that’s been scoured by AI to shape its learning, but evolution can rarely be halted. Big Data, equally, might process vast swathes of information in astonishing ways, but if that data is flawed the output will inevitably also be flawed.
The two camps will continue to battle on the ground between extremes, but where does that leave the rest of us in the meantime? Do we embrace these technological developments, and allow a new revolution to erase countless jobs – or do we stand our ground and demand that people continue to produce the content and output we need?
Perhaps that middle ground is the answer again: if we can’t fight the coming changes, we can definitely shape them. These tools can give powerful solutions, and streamline a lot of the processes that eat up working hours. They can spark creativity, and polish what we create. AI for a first draft, or to tweak a stuffy article so that it reads better? A short video clip to promote a new product, that may not be high-end cinema, but is perfect for a TikTok ad? Information from a huge data pool that gives insights that business leaders can use to direct the way they approach their target market!?
AI and Big Data can be powerful tools in business...
...and Business Leaders should consider how these growing technologies could enhance the work their people do, and the ways that they're doing it...
The future of business
Mastery of any discipline requires a great many skills, and a lot of practice and repetition. These are things that AI and Big Data are great at – but mastery also relies on an understanding of the raw materials and how to handle them.
AI can churn out a story, and Big Data can analyse a lot of information – but there’s a difference between that and a good story or what to do with detailed analysis. There are aspects of both that just can’t be replicated by technology; a soul, that connects with real people in ways that matter.
Storytelling – whether it be fiction or non-fiction – depends on careful selection, exclusion and manipulation for impact. Whatever doesn’t add to the story is excluded or adjusted. We can’t stop people from continuing to use and develop AI or Big Data, but we can use it in ways that enhance human endeavor. The best way to use either is not to create the story we want to tell, but to enhance it, to tailor it to our data, and to support our own ongoing learning.
Data can point to a range of conclusions – but these conclusions could be erroneous, without the logic and big-picture insight that experienced people bring. A + B doesn’t always = C! Often, the relationships between different facets depend on other factors – and on the quirks and foibles of the human mind! Just because both A and B appear to be happening doesn’t mean that they caused C. Coincidences are just as real as causes, but confusing them means that you are making myths rather than telling stories!
In our programmes we have been known to use AI, particularly in the online learning platforms that support our learners. It’s a great way to answer queries, or to point people towards the insight or answers they need if their facilitator isn’t available, so that their progress isn’t stalling.
It’s also fantastic for role-play scripting, or to suggesting strategies or solutions that might not occur to a new Leader as they learn new skills, and practice those scenarios.
Big Data is an excellent way to see the impact of changes in industry, to test possible outcomes of a range of decisions a business or leader might make, and to understand what the wider industry is talking about without the need to do all of the research or reading independently.
Both are excellent tools that we can use to enhance our work, and the learning we deliver for out clients – but neither could ever replace the expertise, experience and depth of understanding found in the incredible people that make up our team. As these technologies continue to grow – in capacity, capability and prevalence – one thing that’s certain is that we will all see new opportunities, new challenges and more change in the world of business and leadership.
Change is always daunting – and it’s natural to be anxious about such huge shifts in our society, and the way that we all work – but when we steer the way that change comes, who knows where it could take us.
Great Leadership means embracing change – and, of course, steering your people through the changes that come. Even the most daunting of these can bring opportunity, and benefit our people, and the work that we do.
No matter how much experience we have, the learning doesn’t end – and embracing new learning is what makes the best business leader, for their own performance and development and for the people they lead.
Speak to the ASK team to find out how we can help you to unlock your full potential, and to help your people achieve their ambitions in your organisation.