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Artificial intelligence is in the air: Ready or not -
Why managers should foster digital readiness of their firms

Expert Advisor Opinion, Anne Gfrerer, March 2019

In the last years, technology has gradually become invisible and digital ubiquity is arising in our daily work and private lives. This is also true for artificial intelligence and its impact for companies to succeed in the digital age. Organizations must foster their digital readiness, which decides about their future business model and which encompasses a range of aspects: it comprises the capability of companies to obtain the benefits which arise from information technology, including their successful transformation into truly digital enterprises and using innovative technologies like artificial intelligence, and people’s individual preparedness to embrace and use the new digital technologies for their jobs. Although there is substantial evidence that digital readiness positively influences company outcome in the digital world and employees have to be ready, studies show, that the associated capabilities are only rarely in place. This goes along with a perceived lack of digitally skilled and experienced managers, who do not have enough knowledge about innovation and major digital trends and who are not yet able to fasten reaction speed and to foster an innovation culture of their firms, which is seen as one of the most important innovation barriers by many employees.

In times, where innovation decides about a company´s wealth and autonomous innovation is a future outlook, this matters even more: Possibly in the future roboters and machines will support innovation processes in fields like scouting, idea generation, but also in areas like innovation team set ups in form of performance predictions and emotion tracking. There might be people-roboter innovation teams collaborating to succeed. This implies even more, that companies have to be prepared and have to enlarge their digital readiness by far. Managers do play a major role in the course of this and new leadership skills are becoming a necessary precondition in the digital world. So what should managers do? In a nutshell, the author proposes three core measures to be taken to succeed: First, the advancing of the own digital readiness of managers matters, as leaders are perceived as role models for the employees.

Having digital knowledge – e.g. on important digital trend topics like blockchain, artificial intelligence or digital ubiquity – and digital skills on their own, and not leaving this over to digital experts, enables managers to better develop a digital strategy, rate digital innovation ideas, define the right problems to be solved and bring business forward in this respect or act as game changers in their industry branch. Dealing with ambidextry - exploiting core business and exploring new business models at the same time - requires digitally enabled mangers on a broader scale. Second, managers should foster life long learning of their employees and enable employees to become more digitally mature, according to the motto from “knowing it all” to “learning it all”. This needs a growth mindset, that empowers people to outgrow themselves. Third, on an organizational level, managers should foster shared beliefs and an open innovation culture. With this goes along, that management communication therefore has to be adjusted accordingly.

To sum up, artificial intelligence can be seen as a great chance for individuals and organizations as well, and managers do play an important role to make the best use out of it for their business to succeed. Nevertheless, in times of artificial intelligence also humans and their skills, that machines can´t learn – like creativity at the first place – will get relevant even more.

Anne Gfrerer, September 9th 2019, Alexander G. Welzl

Read my lips… „I’m a robot!“

WIEN, Austria - Although digitalisation is all around us already and the pace of change seems to speed up continuously there are still moments of surprise. And this is what happened to the international audience at this years UNIDO Bridge for Cities conference in Vienna. Mobile phones went up when people tried to catch the magic moment when AI met human beings on stage....

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"Get started where others talk" - Jivka Ovtcharova in an interview.

It is a man-made development that demands much from its habitual-loving creator: digitization. Your constant companion: the change. How is digital progress changing people? What role do our senses play in this? And to what extent must people rethink and reorganize companies in order to advance digitization in Germany? These and other questions are answered...

Read more..., July 29th 2019

Center for Artificial Intelligence Talents - CAIT Celebrates Its Opening, Announces

KARLSRUHE, Germany, July 29, 2019 The Karlsruhe Institute of Technology (KIT) announced the establishment of the Center for Artificial Intelligence Talents (CAIT) located at the university's campus. CAIT considers digital education and the use of AI for everyone as a core requirement for professional success and participation in social and professional life...

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The Global AI Company Rally is Continuing: +30,02% in Q1/2019. What’s next in AI?

The expert members of the Index Rebalancing Committee Meeting got together and conducted the quarterly review of the AI-42 INDEX™ constituents, discussed the latest Artificial Intelligence trends and shared market insights from their delegation visit to China. The rise of AI companies globally is continuing, with the AI-42 INDEX™ Q1/2019 closing at 10.677,55 points, an increase of 2.465,24 points (+30,02%) since the beginning of this year. The index, which is expressing the global growth of the...

Read more..., Mike Halsall, May 7th 2019

Are we overestimating China’s AI capabilities?

In February 2018, the FT published an article outlining ‘Why we are in danger of overestimating AI’, arguing that ‘considerably more work is needed before we can reach the long-dreamt-of moment when machine intelligence matches the human variety’. By 2030, just 11 years from now, China has vehemently expressed its ambition to ‘lead the world in AI’. Is this a realistic ambition, or has China become entirely conceited in the midst of its new-found wealth and growing economic muscle?

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41.35% of so called AI companies do not use AI at all. 10,861 public and private companies have been analysed worldwide. New AI Market Intelligence Platform helps Venture Capital firms, Private Equity companies, asset managers, analysts, family offices and financial institutions to identify investment opportunities.

Read more..., Gabriele Zedlmayer, March 15th 2019

Trouble in Paradise?

So there seems to be trouble in Paradise. The globe is facing massive challenges like climate change, cyber-crime, shortage of available resources, political instability and the potential of massive job loss because everything that can be automated will be. At the same time, we are seeing unprecedented opportunities like we have never before. Algorithms help us to better diagnose, predict and prevent diseases, they revolutionize the education sector by treating each student as an individual, and they free us from many repetitive and often cumbersome tasks.

Read more..., Anne Gfrerer, March 9th 2019

Artificial intelligence is in the air: Ready or not -
Why managers should foster digital readiness of their firms

In the last years, technology has gradually become invisible and digital ubiquity is arising in our daily work and private lives. This is also true for artificial intelligence and its impact for companies to succeed in the digital age. Organizations must foster their digital readiness, which decides about their future business model and which encompasses a...

Read more..., Jivka Ovtcharova, February 21st 2019

Artificial Intelligence goes Twinning - making analytics come alive

We live in exciting times. Artificial Intelligence (AI) is fundamentally transforming the world with all its facets. Even if it has been around for a while in science and technology, aiming to create machines with some form of human intelligence, over time AI has become an inseparable part of our daily lives, personal as well as professional. Online searching engines, financial transactions, digital personal assistants, image and voice recognition are...


Competence in Artificial Intelligence

Rigourous systematic.

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