How exactly can C-suite executives provide support, direction or insights to senior managers to improve performance without the slightest idea how AI works, its advantages, ethical standards, how competencies are built, how cognitive abilities enhanced, time saved, research executed, social network influenced and the list continues?
In corporate, particularly Business Process Outsourcing (BPO)
and Information Technology Enabled Services (ITES) companies while we know the
role of a Vice President (VP) is pivotal in steering organizational vision,
goals, strategy and operations, however there are so many of them in each
department, that the competencies become questionable now
A VP typically oversees specific departments, ensuring alignment
with the company's goals. Their responsibilities include strategic planning,
team leadership, decision-making, communication, innovation, managing bottle
necks and acting as agents of change.
They probably contribute or are expected to set business objectives,
identify market opportunities, manage departmental operations, mentor teams,
and drive technological advancements to maintain competitiveness. Now imagine,
two VPs in the same department? How does this work?
The prevalence of numerous VPs within each department, coupled
with extended periods—often 12 to 15 years—before ascending to Senior VP
positions, raises concerns about the efficacy and value addition of these
roles.
Such prolonged hierarchies can lead to stagnation in strategic skill development and may not significantly contribute to the company's unique differentiators. In the rapidly evolving landscape of AI, traditional corporate structures are being reevaluated to enhance agility and innovation
Emerging alternatives in the AI Era is probably in everyone's mind now, unspoken truth!
The integration of AI into business operations necessitates a
transformation in leadership roles big time. Several emerging positions are redefining
traditional hierarchies like the Chief Executive role that focuses on
formulating and implementing AI strategies, ensuring that AI initiatives align
with business objectives, who will oversee AI integration across departments,
emphasizing governance and ethical considerations or the officer responsible
for integrating AI-driven automation throughout the organization, who also
identifies processes suitable for automation, implements intelligent solutions,
and manages the transition to a more automated workplace.
Subsequent to increasing deployment of AI, ethical considerations become important. The Compliance Officer ensures that AI applications adhere to ethical standards and regulatory requirements, fostering responsible AI practices and building trust.
The C Suite should know what questions to ask while integrating digital technologies and AI, into multiple business scope - innovation, customer experiences to stay relevant and competitive.
With the rise of fractional leadership, what options can C Suite explore to adapt to changing times, being flexible to acquire specialized knowledge before directing teams? This is particularly applicable to CXOs with decades of experience who are leading companies for a few years now and have been part of this AI transition - Is that good enough today?
Are we ready to ask those critical questions now?
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