Technology and Data News and Events

finance industry focus

How AI and Analytics can influence future business leaders

by Mike Jones in Other Cat 23/07/2020

Businesses with great leaders have the ability to bring out the best in their workers. They are capable of making them productive, happy and more likely to remain with a business for a longer period of time. Businesses that lack this quality in leadership will inevitably experience higher employee turnover, creating higher recruitment and training costs which can accumulate over time.

Businesses today understand the benefits of having a great leadership team. They acknowledge that selecting the best leaders and ensuring they are working in the correct part of the company will generate the highest results. One technique that has become popular for identifying the best leaders is using innovative technology like artificial intelligence and people analytics software.

For years most leaders were trained and established and refined their leadership skills through specific programs. While these programs have been successful, they generally rely on assumptions and instinctive actions in determining promising individuals. Businesses are starting to use technologies like AI and people analytics to ensure these decisions are more accurate. The predictive powers of these technologies are considerable, capable of predicting whether an individual has what it takes to become a leader. An AI system can deliver more information prior to making a final decision and incorporate other sources of data that may be possibly overlooked.


Identifying talent in your employees

Bigger businesses can have thousands of employees and so the process of selecting the right talent can be challenging. With more employees now working from home, identifying those with leadership potential has become even more difficult. This is where AI can play an important role. Artificial intelligence can identify certain employees who have specific leadership traits. AI can enable businesses to maintain a competitive edge by ensuring the right employees lead the organisation. AI can also identify certain areas where workers may need further coaching and support to become stronger leaders. Assessment tests can support AI in identifying certain strengths and weaknesses of individuals and ensure the right programs are assigned to the right employees.

Recognising Skill Gaps

Aside from identifying leaders, AI can support businesses in finding skill gaps across multiple parts of an organisation. Once these gaps have been found, the business can define a personalised coaching program for each employee. 

Intelligent Insights

AI and analytics software generates in-depth insights on employees. The information provided can enable more detailed and productive interactions with employees. 

Improve Productivity and Engagement 

As mentioned earlier, businesses with engaged employees will result in higher levels of productivity. When a business implements AI and analytics to measure employee productivity, it shows a clear sign that performance and growth are important parts of their business, translating into higher engagement and productivity. 

AI and analytics can support existing tools a business uses to develop leaders. These systems can enable businesses to gain more insight into their employees, creating a competitive and more productive company.