Shor t Takes
a society we adapted, we learned how to create a
new economy with the industrial revolution. I think
it’s the same concept that applies here. Yes, AI is
going to be a significant disruptor to the way work
is done today. We can choose to say it’s going to
displace a lot of people, I would be naive to say
it’s not going to displace a significant part of the
workforce in what they do and how they do the
job. But that’s part of the business maturity cycle.
We’re still going to need people. Your investment
of your workforce talent is going to be in building
in areas where they can help you grow the company,
grow the business, expand into new markets rather
than having to deploy the workforce in an area that
doesn’t make sense. While it’s certainly going to
remove some jobs, there’s going to be a creation of
a whole new set of opportunities and jobs.
Consulting: How can organizations adapt to prepare
themselves for the coming AI wave?
Krishnamurthy: There are two ways to pick this up.
Do you believe this is going to be an evolution or a
revolution? I believe this is going to be an evolution.
It’s not like you’re going to wake up in 2 years, 5
years and everything around us will have changed
so completely that we now have to adapt to a whole
new world. This is going to be more evolutionary.
As companies think about their evolutionary plan,
you have to think about this in segments. Where
are you going to make meaningful investments in
automation, embedding artificial intelligence and
semi-autonomous workforce into your environment?
Allow the company to think through what it means
to the transition of the workforce that exists. Are you
going to plan for a systematic transition? Are you
going to provide the learning opportunities? Are you
going to use some of these folks in other parts of
your business? If you think about an evolutionary
process I think it’s fair to expect that with some good
thought process you can manage the transition cycle.
Consulting: What do you see as the biggest consulting
opportunities that will emerge?
Krishnamurthy: First of all, the question about AI is
where do you make the investment? Right now, from
a cost-benefit perspective, the resource cost, while it’s
certainly coming down, it’s still very high to get the
right talent to help you scale up your AI capabilities.
You could make the case that a company could be
overspending. As you think about where to invest,
you want to invest in areas that drive shareholder
value. If you think about it and are able to identify
opportunities to reduce bad costs, the errors that
happen, the inefficiencies, the things that really don’t
add to the value and can cause embarrassment, that
would be the natural point to start investing in some
of these AI capabilities, and I think that’s a good case
for a consulting company to help.