Navigating the AI revolution: is your team ready?

In the modern workplace, machine learning, deep learning and neural networks are enabling the creation of generative AI apps that can be used by professionals in all kinds of roles, transforming how work gets done.

A senior FP&A manager who used to spend hours combing through quarterly reports to identify potential risks and investment opportunities. Now, with a simple prompt, generative AI can generate a detailed report summary in just a few minutes. It precisely pinpoints abnormal fluctuations and can even simulate the financial performance under different market scenarios. This boost in efficiency turns tasks that once demanded substantial time and resources into something readily achievable, freeing up professionals to focus more on strategic planning and insights.

As companies come under increasing pressure to leverage generative AI, they face another hurdle: the need to upskill employees and hire people who have the skills and expertise to use gen AI effectively.

Proficiency in prompt engineering, understanding AI model capabilities, and knowing how to leverage machine learning and deep learning for task automation are often considered nice-to-have skills today, but they may become a prerequisite for certain positions in the future. According to the Robert Half Salary Guide, 71% of managers say they would prefer to hire candidates with less experience but AI skills over more experienced candidates who lack AI skills.

Generative AI has the potential to enhance the productivity and performance of various professions:

Marketing and creative professionals can use gen AI for content creation and data analysis and to automate and speed up repetitive processes. Design teams can generate a multitude of concepts to build upon and refine.

In the fields of accounting and finance, professionals can accelerate research and analysis, improve financial reporting and documentation, and enhance forecasting and budgeting.

AI is transforming customer support and administrative roles significantly, automating initial touchpoints and interactions with customers while enabling professionals to take on more complex, strategic responsibilities.

Working with AI spotlights special competencies

Having team members with essential generative AI expertise can drive innovation, improve efficiency and help companies stay competitive. Combining data skills with critical thinking and emotional intelligence can give workers across the company a well-rounded set of abilities to use AI tools effectively in their jobs.

Let’s take a closer look at these competencies:

Data literacy: The ability to understand, analyze and communicate with data effectively is increasingly important for professionals in non-technical roles that involve working with generative AI. Data literacy helps them understand data inputs, model assumptions and AI-generated insights, and use that information to ask better questions, make smarter decisions and evaluate the quality of AI outputs.

Contextual understanding and critical thinking: Generative AI tools lack the human ability to understand context, so it’s important to recognise subtleties in language, tone and cultural nuances to align AI-generated content with organisational values and goals. This requires carefully evaluating outputs for accuracy, relevance and potential biases. Those working with AI should be able to flag inaccuracies and problematic language, for example.

Adaptability: The AI landscape is continually evolving, requiring managers and their teams to stay abreast of the latest developments and adapt their strategies accordingly. This includes experimenting with new AI tools and integrating them thoughtfully, and refining processes based on feedback.

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AI is reshaping in-demand skill sets

While you’re preparing current team members to work with AI, determine if job candidates also have these abilities that will enable them to use — and find new uses — for gen AI on the job.

To find this talent, hiring managers can focus on a candidate’s knowledge of AI applications and experience leveraging AI tools effectively. To get a sense of their knowledge and comfort with the technology, ask questions like, “How would you explain generative AI to a colleague with a non-technical background?” or have them describe opportunities they’ve had — or hope to have — using generative AI to solve a work problem.

As the workplace continues to evolve, managers who consider these competencies in hiring decisions can help future-proof their teams for the next wave of advancing technology.

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