Nat Rajesh Natarajan, Chief Product and Strategy Officer, Globalization Partners.
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“Why did the AI engineer bring a ladder to work? Because they heard their algorithms were reaching new heights!”
I’ve used ChatGPT to write more than a few opening quips for my presentations to business leaders over the last few months. But jokes aside, generative AI and adjacent technologies have overtaken the business world in the last year.
Organizations across all sectors are exploring the ways in which they can implement this technology, and it’s only a matter of time until a majority of workers have the opportunity to take advantage of AI’s benefits.
AI is not merely a tool. It will be a catalyst for change in how businesses operate and reach a global audience.
AI’s Role In Global Growth
One of AI’s most profound advantages lies in its capacity to break down global barriers and transform how businesses approach expansion. Traditionally, globalization was reserved for only the largest organizations, and required substantial resources, extensive research and due diligence, often spanning months or years. AI, however, helps offer a more agile approach to growth, quickly identifying opportunities across various activations:
Where To Scale: AI can assist businesses in determining the optimal locations for expansion, whether in terms of geography, business units, product lines or specialized teams. To enact this change, companies can deploy AI-powered market analysis tools, like G-P Meridian Insights, that provide real-time data on market trends and consumer behavior.
Identifying Risk Factors: Laws and regulations are constantly changing, making it challenging for businesses to ensure they align with local labor laws. AI algorithms efficiently detect both areas of potential growth and lurking risk factors, enabling companies to make informed decisions. Forty-three percent of employees around the globe believe AI can improve catching and responding to legal or compliance risks. Companies can integrate AI into their risk assessment processes by implementing predictive analytics models. These models continuously monitor data sources for potential growth opportunities and emerging risks. By setting up automated alerts and notifications based on AI insights, businesses can ensure they make informed decisions promptly.
Discovering Global Talent Opportunities With AI
The global job market is evolving. Our recent Global Growth Report—a survey of 2,500 executive leaders and 5,500 employed professionals worldwide—found that 79% of employees are interested in working for a global company.
From global communication and collaboration democratizing access to global opportunity, AI will continue to improve the work experience for both executives and employees and make a variety of growth challenges more manageable:
Accessing Talent: Identifying skilled talent within current markets is a challenge for 77% of executives worldwide. Companies can utilize AI-powered recruitment platforms to streamline talent acquisition. These platforms can quickly scan resumes, LinkedIn profiles and other sources to identify qualified candidates. Moreover, AI can assist in scheduling interviews and communication with candidates, expediting the hiring process. AI solutions can streamline this process, making it more efficient.
Opportunity-Spotting: AI equips companies to stay at the forefront of global labor market trends. Nearly half of executives (48%) believe AI can enhance the prediction of business challenges in prospective new markets. Utilizing global workforce analytics, businesses can identify areas of opportunity, such as countries with the best talent for their industry and regions with favorable regulatory environments. This data-driven approach sharpens decision-making and accelerates global growth.
Admin Efficiencies: Businesses can use AI tools to automate routine and repetitive tasks, such as handling employment contracts, onboarding documents, and paperwork. For 40% of executives and 46% of employees, this is the most compelling aspect of AI adoption. AI’s personalization capabilities can also improve the employee experience, tailoring onboarding processes, benefits packages, HR support, workforce planning and talent sourcing.
The Future Starts Now—AI And The Workforce Of Tomorrow
AI will not replace our workforce as we know it, but it has the potential to shift how we think about work and unlock new opportunities for businesses. Collaboration between companies, regulators and policymakers is essential to ensure widespread AI implementation remains beneficial and ethical.
Industry players, particularly those in people management, can work together to develop ethically aligned AI models. Prioritizing fairness, diversity and unbiased data, they can set standards that promote ethical AI practices among employers and their partners.
AI is a tool that complements human capabilities. At G-P, we emphasize the importance of human expertise alongside AI with in-house HR and legal experts in over 180 countries working in tandem with our AI-enabled products to ensure compliance with regional laws and regulations. Robust data protection measures, transparency and fairness in AI model development are essential.
Moving Forward With AI
AI holds great promise for businesses worldwide. But to fully realize the benefits and stay ahead of the curve, companies must be prepared—investing in upskilling employees in alignment with business goals and AI use cases, encouraging human-AI collaboration to ensure the technology is used compliantly and ethically, and collaborating with trusted technology providers to help navigate the complexities and optimize results. Those who embrace this transformation will be better equipped to leverage AI’s advantages, including adopting a global mindset to identify, recruit and onboard top talent from around the world.
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