Technology has always been a fast-moving area for business, however, one cannot help but be taken aback by the speed at which the recent GenAI conversations have accelerated. One thing is clear, technology advancements like Artificial Intelligence (AI) are no longer a futuristic concept, but a present reality.
Many will look at these tools and suggest that this is merely the next tech in a long history of new trends, from the introduction of devices to the advent of the internet itself. However, significant to our current context is the speed at which AI is being adopted, across both business and wider lives. We cannot afford to ignore these changes.
As organisations compete to stay ahead of the curve, one of the most important investments they can make is in upskilling. If we look at how quickly AI is now integrating into daily practice, we can point to the three areas needed for digital adoption; devices, connectivity and skills. The first two are now generally ubiquitous, which means that for Guernsey the big AI conversation must be focused on if we have the skills to leverage this technology.
Businesses that invest in upskilling their employees on new technologies stand to gain significant benefits. Tools like AI can increase productivity by automating repetitive tasks and enabling employees to focus on higher-level work. Improved customer service can be achieved through AI-powered chatbots and virtual assistants that can handle customer inquiries efficiently and accurately. But none of these benefits can be realised without ensuring that there are both the applied and the leadership skills within your organisation. This new tech holds great promise for sectors that are struggling to grow due to recruitment challenges. Where we can increase productivity and ‘outsource’ tasks, there are benefits to be gained. So rather than see this as a technology that will threaten jobs, these are tools that are desperately needed, particularly across our Finance sector, to build capacity to enable growth.
As leaders, we have a responsibility to ensure that we have the mindset and understanding to see the potential of leveraging these tools in an appropriate way. Investing in our teams is imperative as it will be the applied use of the tools that will enable staff to become more proficient in their current roles, whilst also preparing for future changes within all industries. Whilst changes will bring about uncertainty and will inevitably lead to a number of current roles being redundant, if we support our teams to build new capabilities, then the future looks bright for those who are willing to invest in their learning and development.
