As shared services look to automate, Artificial Intelligence (AI) has a large role to play in companies’ ability to digitize. However, in a recent sharedserviceslink survey, we found only 9% of shared services had AI programs fully up and running.
As this is a relatively new technology, there are a number of common misconceptions. On July 17th, join us and Sidetrade for a webinar on 5 ways AI can transform shared services.
However some of the common misconceptions we see are:
1. Artificial intelligence will replace humans
If a technology comes in that can emulate human behavior at work, it is natural to think how it might take work away from people. And it will. Technology will take certain work away from humans. But in shared services, what we are seeing is that AI isn’t replacing people with robots. Instead it is acting more like a virtual assistant. People are using technology to make tasks like responding to routine email queries or analyzing spreadsheets easier. This doesn’t mean the job disappears, but it can free up hours of time to focus on tasks that humans are better suited to do, like complex problem solving and client interaction.
2. Investing in Artificial Intelligence will transform my operation
Maybe, someday it will. But the technology alone isn’t transformative. Tools like RPA and AI can dramatically improve efficiency when applied appropriately, but if they are applied to broken processes, or if you haven’t also looked at transforming your workforce, all you will have is a slightly faster process. True transformation comes when processes are re-examined with technology in mind, and the workforce is ready and prepared for the changes that AI will bring.
3. Artificial Intelligence won’t impact leadership positions
Many think that tools like AI and RPA will mostly impact jobs with lots of data entry or transactional aspects. However all roles in shared services are likely to be affected by AI. Leadership roles will soon be required to understand the technology, be responsible for its governance and ensure the team has an appropriate skill mix to interact with the new technology. It will also fall to the leadership to ensure that the team uses their freed up time to the best use for the business.
For more on how AI will impact shared services, register for this webinar on July 17th.
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