Fostering team collaboration in the age of generative AI

Generative AI is already having a profound impact on the corporate landscape and is set to revolutionise how we work.

Accenture’s research indicates that 45% of working hours in Australia are in scope for automation or augmentation.

The age of generative AI will be defined by not only productivity gains, but also by enhanced human creativity and the potential to shape more innovative employee and customer experiences. However, the technology’s impact on work will depend on how it is implemented and businesses are not currently placed to reap the rewards, with only 9% of organisations currently leading the way in reimagining their capabilities to make the most of generative AI.

Business leaders need to prioritise human-centred change efforts and scale the technology responsibly, creating value and ensuring that work improves for everyone. This means setting and guiding a vision for how to reinvent work, reshape the workforce and prepare workers for a generative AI world, while building a resilient culture to navigate continuous waves of change.

Invest in people to reinvent work

Generative AI represents an enormous opportunity to deploy technologies that are “human by design.” Research indicates that when used in conjunction with human skills, generative AI could unlock over $10.3 trillion in additional economic value by 2038. However, leaders will need to shift from solely seeing this technology as a tool to increase productivity. Instead, they need to assess how it can impact processes across the value chain, helping them to foster more creative and meaningful work for people.

Generative AI’s effectiveness hinges on human input to drive quality outputs—whether they’re straightforward, like the draft of an email, or complex, like a financial forecast. This shift will lead to a reinvention of work with more human-centric processes across the entire value chain. By synthesising data, comprehending natural language and converting unstructured data into actionable insights, generative AI is democratising business process redesign, empowering everyone to reshape their own workflows.

It can also bring workers closer to their customers. Imagine a banking scenario where generative AI transforms the customer experience; from using AI-powered analytics to gain a comprehensive view of customer needs, to customising financial products and services based on those needs. This end-to-end change not only streamlines operations; it also helps bankers know their customers better, identify new products and improve experiences for both customers and employees. All these outcomes positively impact the bottom-line.

Establishing a workplace culture where it seamlessly becomes part of the organisation ensures that generative AI’s transformative abilities are maximised, setting the stage for success in the ever-changing technological landscape.

Bridging the crucial trust gap

Generative AI possesses the capability to accelerate economic value, boost productivity for business expansion and foster more creative and meaningful work experiences for individuals. But unless leaders can communicate how they are ensuring positive outcomes for everyone, will they be able to unlock its true potential.

While 95% of workers see the value in working with generative AI, it is important to remember there are a host of ethical and societal concerns, including job displacement, data privacy, protection of intellectual property, bias and the responsible use of AI. This is feeding into a notable trust gap between employees and organisations when it comes to the implementation of the technology. More than half (59%) of workers feel generative AI could potentially increase their job insecurity, compared to only 28% of CxOs. Leaders can bridge this gap by explaining the development process and reasons behind generative AI systems, ensuring workers have confidence they will be beneficial and operate within acceptable values.

Training will also play a crucial role. While 94% of workers express a willingness to learn new skills for generative AI, only 5% of organisations are actively reskilling their workforce at scale. Without a proactive approach to upskilling, workers will remain resistant to the change generative AI is ushering in and organisations won’t be able to deliver on the transformation they desire.

The Path Ahead

As we navigate the era of generative AI revolutionising companies, there is a heightened pressure on leaders to keep both the business and its workers satisfied. The investment in people, coupled with reskilling initiatives, is crucial to unleashing the full potential of this technology and realising its substantial economic value. As companies embark on this transformative journey, embracing generative AI as an integral part of the organisational culture will pave the way for sustained success.

Laura Stonebank, Talent and Organisation lead for Accenture in Australia and New Zealand