“It’s not the strongest of the species nor the most intelligent that survives, but the one that is most adaptable to change.”
– Charles Darwin
AI uptake is growing at 32 percent (KPMG, Dec 2023), which suggests that 50 percent of workers in Canada will be using AI within three years. As most of the repetitive tasks are automated by using AI, organizations are already saving time and earning productivity gains. However, not every Board, C-Suite and other employees are eager to embrace AI. Clouded by unease and a reluctance to use new tools, a “wait and see” approach might end up in a “train has left the station” scenario.
Every leap of technology sparks worries about how (and if) human talents fit into a new context and heightens the fear of unemployment. Moving over the speed bumps, forward-looking Boards adopt AI as a copilot to assist their workforce rather than replacing them, freeing up employees to spend more time on value-added activities.
This article introduces the 70-20-10 training and development concept as a tool to empower organizations to accurately navigate AI capabilities, while also implementing ethical considerations in integrating AI into an organization’s workflow. The 70-20-10 rule recommends that individuals learn through a combination of three mechanisms: 70% experience, 20% exposure, and 10% education.
Using this 70-20-10 model as a framework for AI adoption can help Boards develop leaders toward a comprehensive understanding of AI adoption and transformation. This approach could help them to lead effectively by combining hands-on experience, exposure to diverse perspectives, and continuous learning.
· 70% experience means hands-on leadership. When leaders actively participate in AI initiatives within the organization, it allows them to understand the challenges, opportunities, and implications of AI adoption. Furthermore, by demonstrating a commitment to AI adoption, Boards inspire confidence and engagement in their leaders and the workforce.
· 20% exposure means collaboration and networking. Leaders can gain insights into best practices, trends, and AI adoption strategies by engaging with industry leaders such as AI experts, industry peers, and thought leaders. Encouraging cross-functional collaboration at the workplace also promotes knowledge-sharing and alignment of AI initiatives with broader organizational goals.
· 10% education means formal learning and skills development. Continuous learning focused on AI technologies, ethical considerations, and organizational change management, keep leaders informed about the latest developments to make knowledgeable decisions and drive AI adoption.
Adopting AI could free up people from repetitive tasks to focus on more complex and creative work enabling data-driven choices in decision-making, anticipating market changes, optimizing inventory, and managing resources effectively. Organizations could improve response time, increase customer satisfaction, improve engagement and loyalty through customization, and become a more agile and competitive work environment.
As uptake grows quickly, it’s most important that Boards strategize and lead AI adoption — now more than ever. The corporate world is only at the beginning of a massive shift, including a potential tidal wave of new jobs, requiring new skills. It’s time for Boards to drop the “wait and see” option and commit to assessing opportunities and risks before the “train leaves the station.”
