Redefining success in business with Artificial Intelligence

For unleashing the full potential of Artificial Intelligence (AI), contemporary leadership that can augment AI and humans instead of strategizing to replace AI with humans is the need of the hour from a balanced social, legal, economic, political, and technological perspective. It is a pre-requisite for the organization in the current scenario post-pandemic to realign the business processes with AI considering adaptability, complexity, scalability, decision making, and customization of products and services. For example, in Morgan Stanley Robo-advisors offers clients an array of investment options based on real-time market information, in Pfizer wearable sensors for Parkinson's patients, track symptoms 24/7 allowing customized treatment and in Unilever automated applicant screening vividly inflates the pool of qualified candidates for hiring managers to appraise. According to Harvard business review, it is predicted that the performance and bottom line of organizations is enhanced when humans and AI augment each other leading to enhancing life skills of individuals and teams and technical skills of machines with the right fusion of learning and development activities. Pandemic and resultant transformations have fast-tracked the mechanization of many everyday jobs, with future skepticism towards artificial intelligence (AI) adding to the increase in the rate of unemployment. In reality, if actions are taken appropriately and strategically by the organizations and government combined the reverse might be true that is AI will add to more jobs.