GenAI Reinvents Work, Reshapes Workforce - Praxis
GenAI Reinvents Work, Reshapes Workforce

GenAI Reinvents Work, Reshapes Workforce

Generative AI is democratising business process redesign, giving everyone – from assembly workers to customer service agents to lab scientists – the power to reshape their own workflows

 

The current generative AI revolution is different from anything that has happened before. Anyone can use it to automate or enhance basic tasks, but generative AI is also demonstrating much broader potential to reinvent processes across the entire value chain.

To responsibly scale this groundbreaking technology so that work improves for everyone, leaders need to guide a vision for how to reinvent work, reshape the workforce, and prepare workers for a generative AI world. This also requires building a resilient culture to navigate continuous waves of change.

After the agricultural and industrial revolutions, generative AI is set the bring in the biggest changes in economic progress and work practices. It will lead to a reinvention of work with more human-centric work processes. Generative AI is democratising business process redesign, giving everyone – from assembly workers to customer service agents to lab scientists – the power to reshape their own workflows. Experts are of the opinion that generative AI offers threefold opportunities: accelerate economic value, drive business growth, and generate more creative and meaningful work for people.

The Trifecta of Opportunities

An Accenture’s research titled “Work reinvented, workforce reshaped, workers prepared” highlights a trifecta of opportunities presented by GenAI: economic uplift, business growth, and enhanced human potential. If adopted responsibly and at scale, GenAI could unlock more than $10.3 trillion in additional economic value by 2038. This potential is contingent on companies placing people and innovation at the centre of their strategies.

Economic Impact- Productivity Gains

Generative AI is set to drive productivity gains similar to the industrial revolutions of the past. For example, early industrialisation was marked by mass production, while the GenAI era promises enhanced human creativity alongside productivity. This dual impact is expected to redefine industries by not only automating tasks but also augmenting human capabilities.

Business Growth

Many CxOs view GenAI as a tool for innovation and revenue growth rather than mere cost reduction. This perspective is supported by modelling which suggests that companies integrating GenAI into their workflows could surpass the revenue growth of today’s leading firms within the next five years. Notably, organisations that prioritise people alongside technology see higher productivity gains.

Human Potential

GenAI is designed to be “human by design,” meaning its effectiveness hinges on human input. This technology empowers employees to reshape workflows, improve customer experiences, and unlock new levels of creativity and impact. For instance, Moderna uses GenAI to automate coding processes, thereby expanding employee capabilities and accelerating its mission to deliver life-saving medications.

Navigating the Trust Gap

Despite the optimism, there is a significant trust gap between employees and leaders regarding GenAI. While 95% of employees see value in working with GenAI, their top concerns include job security, stress, and the quality of AI outputs. Conversely, many leaders underestimate these concerns, which can hinder successful AI adoption. Bridging this gap requires transparent communication, effective change management, and a commitment to reskilling and upskilling the workforce.

5% Revenue Growth

Leaders must demonstrate a clear vision for how GenAI will benefit both the organisation and its employees. This involves actively involving employees in the change process, ensuring their concerns are addressed, and providing opportunities for skill development. Accenture’s research shows that organisations prioritising their employees’ well-being and skill growth can achieve a 5% revenue boost.

Case Studies

Companies like Radisson Hotel Group and Vodafone are leading by example. Radisson implemented GenAI to manage customer reviews at scale, allowing employees to focus on providing better service while ensuring guests feel heard. Vodafone is offering upskilling opportunities to its frontline agents, helping them transition to new roles in technical support and digital marketing.

Leading in the GenAI Era

Effective leadership in the GenAI era requires continuous learning and adaptation. Leaders need to be well-versed in digital fluency, enterprise AI governance, and cross-functional collaboration. By embedding learning into the flow of work, leaders can scale GenAI responsibly and build the trust necessary for successful transformation.

Reinventing Workflows

Rethinking workflows is crucial for realising GenAI’s full potential. This includes aligning technology with business goals, collapsing organisational silos, and fostering a culture where employees can shape their work processes. For example, a consumer goods company might use GenAI to enhance customer identification, automate order capture, and provide hyper-personalised customer care.

Reshaping the Workforce

As work evolves, so must the workforce. Companies need to adopt dynamic talent models that facilitate continuous reinvention. This involves leveraging the skills tech ecosystem to smooth transitions and ensuring that employees possess the adaptability required to thrive in a GenAI-driven environment.

Preparing for the Future

Investing in human capital is paramount. Organisations should prioritise comprehensive learning initiatives that cover both technical and soft skills. By fostering a culture of transparency and involving employees in the change process, companies can ensure their workforce is prepared to collaborate with machines and maximise GenAI’s benefits.

The era of generative AI presents unparalleled opportunities for economic growth, business innovation, and human development. However, realising this potential requires leaders to act with compassion, humility, and a commitment to continuous learning. By placing people at the heart of their strategies, organisations can navigate the challenges of the GenAI journey and emerge stronger, more innovative, and more resilient.

As we stand at the cusp of this transformative era, the best outcomes are within our reach. It is our responsibility to materialise them.

 

Acknowledgement:

Accenture’s “Work Reinvented in the Age of Generative AI” report, featuring insights from industry leaders and comprehensive research data.

 

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