Business and technology are evolving faster than ever. Artificial Intelligence (AI) has emerged as a game-changer. The speed of adoption has been unprecedented and is now at significant levels in organizations, amongst leaders and boards. The annual global McKinsey survey found “one-third of survey respondents say their organizations are using gen AI regularly in at least one business function” and “nearly one-quarter of surveyed C-suite executives say they are personally using gen AI tools for work” and it is on the agendas on one-quarter of boards. Source: McKinsey, August 1, 2023
AI is now poised to revolutionize strategy execution, change management and project management, and strategy execution. If you’re wondering why you should embrace AI to lead these essential dimensions of business transformation, here are three compelling reasons that might just change your perspective.
Speeding up work with AI
In our fast-paced environment, speed can be a defining factor in success. Research conducted by Harvard, MIT, and Boston Consulting Group has demonstrated the acceleration that AI can bring to work. This study involved hundreds of consultants across 18 different work tasks. They found that consultants using AI managed to complete tasks 25% faster than their counterparts who didn’t use AI. They also found that those using AI finished 12.2% more work tasks. They also completed tasks 25.1% faster. Source: HBS Working Paper, 2023
The benefits of acceleration are now being applied to the context of project management, change management and strategy execution. Projects that once took weeks or months to plan and execute can now be streamlined and accomplished in significantly less time.
Several studies show the impressive nature of AI tools in improving speed of professional and project work. For example, business professionals who used AI where found to write 59% more business documents per hour. Also programmers using AI could code 126% more projects per week. Source: nngroup, 2023
By leveraging the power of AI, change leaders can meet deadlines more efficiently and support their organizations to stay ahead of the competition.
AI: A creative partner in success
Creativity is another important aspect of project management, change management and strategy execution. It is the driving force behind innovation and problem-solving. While AI is often associated with automation and data analysis, it also has a creative side. One example is ChatGPT, a generative AI model that is now making its mark by outperforming even the brightest minds.
In a creativity test, ChatGPT went head-to-head with 200 Wharton MBAs and emerged victorious in both quantity and quality of ideas. This showcases the untapped potential of AI in infusing creativity into projects. Whether you’re brainstorming ideas for a new product launch or devising a groundbreaking strategy, AI can be your creative partner, helping you generate innovative solutions. Source: Wall Street Journal, 2023
This applies also to quality of outcomes. In the Harvard, MIT and BCG study described above, those who used AI also produced 40% higher quality results than those who didn’t. Source: HBS Working Paper, 2023
Adapt to Survive: The Generational Shift
The business landscape is in the midst of a generational shift, and technology is at the forefront of this change. Traditional methods of operation are giving way to more tech-savvy approaches, and AI is playing a pivotal role in this transition.
According to research by Salesforce, generative AI has been used by 49% of people. and 65% of generative AI users are Millennials or Gen Z. An excellent Salesforce infographic summary can be found here and see chart 16 showing usage of ChatGPT by age group here. This data shows that 31% of ChatGPT users fall in the 18-34 age bracket, and their utilization of AI is on the rise. The generational divide becomes even more pronounced as we move up the age ladder, with only 9% of users aged 45-54 using ChatGPT. This suggests that younger professionals are embracing AI as a fundamental tool in their work, whereas older professionals are lagging.
For businesses, this shift implies that to remain competitive and relevant, change leaders must adapt to the changing preferences and practices of their workforce. Embracing AI is not just about staying ahead but also about ensuring your business remains attractive to top talent.
Getting Started with AI for Your Projects and Strategies
Now that we’ve highlighted the compelling reasons for integrating AI into your change management, project management, and strategy execution, it’s time to explore how you can get started.
Here are some practical ideas to kickstart your journey into the world of AI:
Leverage AI for Content Generation
One of the simplest yet most effective ways to incorporate AI into your daily workflow is by using it for content generation. ChatGPT, for instance, can assist you in generating dot point outlines for longer emails, strategy documents, reports, workshop agendas, and more. By offloading this repetitive task to AI, you can free up valuable time for more strategic and creative work.
There are many more sophisticated ways to use ChatGPT and AI to tools to generate content that will improve your project management reporting, and change management communications. Much of this is driven by the way you draft ChatGPT prompts, and a whole new digital skill in prompt engineering has emerged.
In particular, you can use ChatGPT to generate different versions of your strategy documents for different stakeholder groups. Each audience requires a nuanced approach with different styles, tones, length, format and communication objectives. Instead of re-creating the communications material (content) manually, you can use AI to generate the different materials for you, including different media formats such as text, graphics and video.
You can also ask ChatGTP to generate ideas for you of the different content formats. They sky is the limit in terms of creativity.
Integration with Existing Tools
AI is rapidly becoming an integral part of our existing tools and platforms.
For example, Google’s document and email services now incorporate new AI-powered features Duet AI to enhance productivity and content creation. Canva’s new Magic Design AI tool can assist in creating visually appealing presentations. Also Microsoft 365 Copilot is set to offer AI assistance starting November 2023.
Keep an eye out for these advancements and explore how they can streamline your project management, change management and strategy execution.
As these tools develop, there will be more integrated multimedia offerings within an individual tool, such as the ability of ChatGPT4 to generate images and text within the same platform. This is called multimodal AI. Ease of use will continue to improve, and this is developing very quickly.
Transformation membership community
To fast-track your skills in strategy execution, project management and change management, consider joining a paid membership community such as “Turbocharge Your Transformation” membership academy. This membership offers one-hour monthly masterclasses on topics such as “Turbocharge your Transformation with AI tools”, playbooks, and additional resources to help change leaders navigate AI, workplace culture, and other leading-edge tools to stay relevant. There are also monthly group coaching sessions.
Members include executives and managers from a range of functions including Finance, Marketing, PMO, HR and Technology/Digital teams. They are all responsible for implementing strategies, transformations, change and projects, usually on top of their day jobs. They all have busy workloads, and participate live in Zoom sessions, or watch recordings in their own time asynchronously.
The investment is moderate, and the long-term benefits are substantial in terms of time saved, increased productivity, accelerated execution, reduced risk and increased success rates.
Leveraging AI: The Path to Digital Transformation
In conclusion, the era of digital transformation is upon us, and AI is at its forefront. Change management, project management, and strategy execution are no longer isolated tasks but are deeply intertwined with technology and innovation.
The advantages of adopting AI are clear: speed, creativity, quality and staying relevant in an evolving business landscape.
As the statistics show, the generational shift towards AI adoption is already underway. To remain competitive and attract top talent, businesses must adapt and leverage the potential of AI. From content generation to integrated AI tools in existing platforms, the opportunities are significant.
So, don’t be left behind. Embrace AI, unlock its potential, and pave the way for your own transformation and success in the ever-evolving business world. Your journey into the future begins with a single step towards AI-powered change management, project management, and strategy execution.
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About Lisa Carlin
As a strategy execution specialist and scaleup mentor, Lisa works with ambitious digital leaders to turbocharge their transformation and business planning. Lisa’s clients have an independent sounding board and expert advice so they have absolute confidence they WILL ACHIEVE THEIR GOALS. Lisa is Co-Founder and Director of FutureBuilders Group of organisational development specialists, and volunteers as Chair of the University of Cape Town Australia Trust. Her early career was with Accenture (South Africa) and McKinsey (USA).