Recently, the CEO of a prominent bank phoned me to discuss the promise of generative AI. We initially worked through scenarios to improve fraud detection and customer service, but with the ongoing spate of recent announcements, it was clear he had grander ambitions in mind. Like many industries, banking has a workforce problem: There is a discrepancy between the demand for skilled personnel and the supply of workers who are willing to return to an office and play by pre-Covid rules.
How to Prepare for a GenAI Future You Can’t Predict
Given the staggering pace of generative AI development, it’s no wonder that so many executives are tempted by the possibilities of AI, concerned about finding and retaining qualified workers, and humbled by recent market corrections or missed analyst expectations. They envision a future of work without nearly as many people as today. But this is a miscalculation. Leaders, understandably concerned about missing out on the next wave of technology, are unwittingly making risky bets on their companies’ futures. Here are steps every leader should take to prepare for an uncertain world where generative AI and human workforces coexist but will evolve in ways that are unknowable.