Machines are doing the job humans did -- this is a trend that would accelerate in the years ahead. The question then is what should humans do? And how should organisations adapt for this sort of a future? Companies need new leaders with newer skills to begin with. Futurist Mike Walsh, who has written books such as Futuretainment and The Dictionary of Dangerous Ideas, delivered the opening keynote at Business Today's annual leadership summit, Mindrush. He spoke on surviving in such a world, the world of algorithmic experiences. Here's a sampling of his three key thoughts:
1. Upgrading the operating system of a business starts with culture. Companies would need people with a fresh and different mindset -- people who can make good decisions in an ambiguous situation; those who are flexible enough to adapt as the world around them changes. An organisation's best people will have jobs that don't even exist today. Along with this, ethics is integral to the culture as well -- organisations can ill afford incidents such as data breaches and machine bias.
2. Leadership must evolve to combine a deep understanding of human complexity with the understanding of computational technique. Walsh calls this band of leaders 'algorithmic leaders'. They should also be able to take the first principles approach. Break down a problem into smaller pieces and then build a solution ground up.
3. The value for businesses is not just about automating. The real value is data (Yes! how many times have we heard that data is the new oil?). Companies must create a culture of data-driven decision making. Walsh feels that if organisations have data and a suitable culture, it would be easier to re-engineer a business for the future. A good way to start would be to run a weekly data brainstorm and ask people to come up with the best possible use for the data they have.Read Business Today MindRush live updates