Many banks use chatbots or other applications based on artificial intelligence. It is often overlooked that the technology can only develop its full effect if the corporate culture is also taken into account accordingly.
Technologies from the field of artificial intelligence (AI) are influencing more and more areas of business life. And yet, as with most technological changes, the success of any deployment can vary. A study by BCG Gamma found that only 10 percent of companies are seeing a significant financial return on their AI investments.
What is often overlooked or underestimated when adopting a new technology is the culture of an organization adopting the new technology. As tech expert Scott Brinker once put it, “Technology is changing exponentially; Organizations change logarithmically.”
Relationship between corporate culture and AI
A recent study by MIT and BCG found a close symbiotic relationship between corporate culture and AI use. It shows that companies that have made changes to their business processes and culture are five times more likely to achieve significant financial returns from AI deployments than companies that have not made these changes. And in those organizations that have made these changes, the adoption of AI has actually strengthened the work culture and improved employee morale. Team culture, AI use and effectiveness created a virtuous circle.
Businesses need to change the overall culture of the organization, and that depends on getting employees to think in terms of AI. If you don’t start thinking along these lines, you won’t be asking the right questions that can eventually be solved with AI. Only thinking in AI – such as the question of which solutions would be possible with AI or whether AI could be used in a certain situation – really opens up new possibilities.
The human side of AI is often overlooked. However, technology transformation always requires organizational transformation.