Indian Institute of Foreign Trade: Tradewinds 2018

Trade Winds

National Leadership Summit

Preparing leaders in an era of Intelligent Machines

Technologies like artificial intelligence, predictive analytics, cognitive computing, machine learning, virtual and augmented reality have become more pervasive, challenging many of today’s jobs.

Artificial intelligence (AI) will enable managers to make faster, more thoughtful, collaborative decisions. As machines take on routine tasks like planning, scheduling and optimization, managers will be freed to focus on strategic and more creative work, applying intuition and ethical reasoning to make the judgment calls that even the most advanced machines can’t.

Intelligent machines can help established businesses expand their product offerings, streamline internal processes and also help organizations to unleash the true potential of their workforce. According to Accenture projections, fully committing to AI could boost global profits by a whopping $4.8 trillion by 2022. For the average S&P 500 company, this would mean an additional $7.5 billion in revenue over the next four years.

Many organizations, however, are in the nascent days of AI implementation. Of the three stages of adoption—education, prototyping, and application at scale—most executives are still taking a tentative approach in exploring AI’s true potential.

Organizations future success will be driven by their leader’s ability to innovate and make better, faster decisions. The key areas that the organizations need to focus on would be to build judgement muscle by embracing the value of judgement work, reward new sources of value through new metrics and talent selection, build a network that boosts judgement by establishing cross-functional teams and ecosystem networks.

We at IIFT, therefore seek to hear from industry stalwarts on how they view & cite visible changes in the organizations in an era of Intelligent Machines.

Indian Institute of Foreign Trade: Tradewinds 2017