Advancing Leadership AI Capabilities Critical to Future Irish Business Growth

The IMI (Irish Management Institute) today published a new whitepaper recommending measures for leaders to equip themselves and their employees with the skills and capabilities necessary for growth in an AI-enabled future.

Developed through engagement with the IMI’s membership base of senior decision-makers and CEOs of businesses across Ireland, the whitepaper highlights the key role of senior leaders in preparing their organisations to harness the power of AI.

Key Leadership Skills

As the development and adoption of AI technologies accelerate, the whitepaper highlights the key leadership skills necessary to thrive in this new environment. Advanced communications, negotiation and people skills are set to become ever more important in an AI-enabled future as leaders manage more productive and high-performance teams supported by automation.

Many leaders are already recognising the need to enhance their proficiency in these areas, with the IMI experiencing a significant increase in demand for its Advanced Negotiation Skills programme since the onset of the AI transformation in early 2023.

Advancing Capabilities

Despite the whitepaper demonstrating the role of leaders in driving change, only 1 in 4 business leaders in Ireland currently feel they have the right skills and capabilities to harness the potential of AI within their organisation, according to IMI research. A greater focus on developing leadership AI capabilities and deepening understanding of the technology can support decision makers to better identify strategic opportunities where AI can be leveraged to improve business efficiencies and support their workforce.

To fully harness the potential of AI in their organisation, leaders should consider whether their current organisational culture adequately supports workers and innovation. With digital transformation and an evolving world of work creating gaps between leaders and talent, leaders need to ensure that the culture of their business evolves to meet the changing needs of their workforce. It is only by implementing these shifts that companies will be capable of fully realising the potential of AI.

The whitepaper highlights that a strong leadership approach is important to creating a culture of innovation throughout an organisation that encourages talent to use and experiment with AI tools. When coupled with dedicated reskilling and upskilling AI programmes, this cultural shift can ensure that talent has the necessary support and skills to benefit from the productivity gains of the technology.

To ensure that everyone has opportunity to develop the skills and capabilities necessary to fully participate in an AI-enabled economy, the whitepaper calls for a collaborative approach across Government, education, and industry in working together in closing the skills gap. Ensuring a joined-up stakeholder approach to skilling can mitigate the potential risks of worker displacement and ensure the workforce will be prepared to fully harness the opportunity offered by AI.

Responsible AI Use

While AI offers powerful potential increases in efficiency, its algorithms also have the potential to perpetuate biases and other unintended consequences if not carefully managed. The whitepaper calls for business leaders to champion ethical and responsible practices regarding the use of AI within their organisation. Engagement with a range of stakeholders in the development of AI strategies can ensure that transparency and fairness is embedded in the use of AI solutions. Open and honest communication with employees and customers regarding their use can also better secure trust in the technology.

Shane O’Sullivan, interim CEO of the IMI, said: “AI is a once in a generation technology. With the AI transformation firmly underway, the technology offers powerful possibilities to increase productivity and revolutionise the way we do business.

“Business leaders will play a critical role in unlocking the power of AI within their organisation. However, with many decision-makers still lacking crucial AI capabilities and knowledge, there is a clear need for leaders to step up their own skills and understanding of the technology.

“The release of our whitepaper sets out a number of key measures that senior leaders can take to prepare their organisation for an AI-enabled future. Taking a leadership approach that embeds a culture of innovation throughout their organisation is an important step to encourage talent to experiment with AI tools. Investing in AI skills programmes and a lifelong approach to learning can also ensure the ongoing development of AI skills and capabilities at every level of their organisation.

“Championing the responsible and ethical use of AI should be a priority for leaders to ensure trust in the technology among their workforce and customers, whatever their industry. By acting now to implement the measures set out in our whitepaper, senior leaders can capitalise on the AI revolution.”

To support decision-makers in preparing their organisation for the AI transformation, the IMI has established an AI for Senior Leaders programme focused on the opportunities and challenges of embedding AI into their business.