With the Fourth Industrial Revolution bringing in exponential changes, leaders are missing one important element — rethinking the process of learning. People are learning in multiple ways. Paperbacks exist with e-Books. Analog business models exist with digital. Physical stores exist with online formats. There is another word for it – omnichannel, and that is what learning must be.
While Pokémon Go may have been the best marketing campaign for AR, we are only scratching the surface. The possibilities are endless. So don’t let your enthusiasm die down. The roller coaster has just started its journey.
The data we generate is then used to craft algorithms that can predict our next move. That is the basis of all the nudges we get as we shop. “Those who bought X also bought Y” is the algorithm trying to figure out your next move. The algorithms are always trying to second guess you — till the time you give up controls of your life to the algorithm. Then why not make a living by selling this data that is ours.
HR was all about creating one set of rules then apply to every employee. Today employees expect a customized experience when they go to work for any employer. The process of creating an individualized experience is dependent on the unique identifiers we have for an individual. While most corporations have still stayed on with gender options being limited to three at best, Facebook offers 71 gender options to UK users. That allows them the ability to target ads more specifically. Facebook allowed people to type in whatever they wanted to describe their gender and from that data set created more categories. Amazon can be the best model for your HR department.
Finding gaps in the readiness of a candidate for the next role can be done by using AI. Imagine using an AI platform to let the system analyze your readiness for the role you wish to take. Then provides a recommendation of the way to build the gap. There are already AI driven coaching tools that can be used to change the talent management process in organizations. Artificial Intelligence lies at the intersection of big data, machine learning and robotics. HR can leverage AI to truly impact business outcomes.
If someone has been hired to do a job, shouldn’t they just do their job? While a lot of employees will do the bare minimum they need to do to keep their jobs going, there is a small percentage of employees who hit the ball out of the park.
They file for patents, contribute more and are evangelists for the brand. According to Bain and Company, companies like Apple, Netflix, Google, and Dell are 40% more productive than the average company. That amounts to a disproportionate impact on the bottom line.
BCG estimates more than 4,000 companies with formal corporate universities across the world. The former Chief Learning Officer (CLO) of BBC, Nigel Paine’s new book explores what it means to choose a high-investment option like GE did. What makes Crotonville relevant even today? If a company wants to invest in leadership development is it necessary for them to invest millions of dollars and build a clone of Crotonville? Is that the only approach to leadership development?
Software developers release "unfinished code" and constantly add new features after that. That's called the Beta version of the code. But living like that perpetually is not for the faint hearted - unless you are Brian Chesky, CEO of Airbnb. In that case you will decide to disrupt yourself. He says, “If we don’t grow past what we originally invented, what leads to your success leads to your death.” He has cut himself off from his existing business and building his next gig.
Firstly, this year, let HR take a boundary-less view of data. Go beyond structured data to unstructured data sources. Throw in data from all sources till you cannot use Excel to do analysis any more. You have to invest in Artificial Intelligence.
