ServiceNow commissioned a report with the Fathom Group, which highlights the potential $1 trillion impact of AI on productivity in the next five years. However, the question remains whether organisations are ready to embrace this change. Some are hesitant due to fear and concerns about corporate data. Embracing AI and Gen AI can be an accelerator for productivity and talent development.

Peter McDonnell, Chief Transformation Officer at ServiceNow emphasises that AI and Gen AI will become essential parts of the workforce, acting as teammates or copilots rather than replacing jobs entirely. They will enhance productivity and create opportunities for growth in the workforce. The partnership between AI and humans is essential for organisations to adapt and create new team structures to stay competitive and address skill shortages. Use AI to augment work, enhance employee development, and improve employee journeys.

Gen AI has the potential to impact organisations by transforming the value chain and speeding up processes while reshaping knowledge work. Organisations, especially HR professionals, should embrace Gen AI to gain a competitive edge, improve efficiency, and attract top talent.

The importance of understanding and utilising the skills of the workforce becomes crucial in this new era of technology. By freeing employees from mundane tasks, AI can unlock their true capacity, allowing them to focus on more critical and strategic work. This, in turn, can help organisations achieve a common purpose and overcome competing business priorities.

Key Takeaways:

AI can be a powerful accelerator, improving productivity and enabling employees to focus on higher-value tasks. There are three main use cases where AI, particularly ChatGPT, can have a significant impact:

• Conversational Language: AI can improve virtual agents’ interactions by understanding natural language and asking clarifying questions, enhancing customer support and reducing frustration.
• Content Generation: AI can generate text, and while it can be impressive, it also raises concerns about differentiating between AI-generated content and human-generated content.
• Knowledge Synthesis: AI can summarise large amounts of data quickly, making it valuable for tasks like onboarding, policy and compliance, and process optimisation.