Seven Skills Business Leaders Need in the New Era of Artificial Intelligence
Walden University is fortunate to have insightful faculty members like Dr. Steven Verrone. Dr. Verrone teaches MBA capstone courses as well as MBA courses in marketing and innovation. In this article, he shares his thoughts about the critical skills business leaders need for success in the age of artificial intelligence.
Artificial intelligence (AI) is quickly transforming the way we live and work. A recent Goldman Sachs report found that 300 million jobs worldwide stand to be impacted by artificial intelligence and automation, such as office and administrative support roles.1 As AI becomes more integrated into our daily lives, leaders must determine how to navigate this new landscape.
Artificial intelligence is already revolutionizing a wide range of industries. The demand for Master of Business Administration (MBA) graduates with well-defined skills will only grow as businesses embrace AI technologies. As the use of artificial intelligence becomes more widespread, businesses are seeking professionals who can combine the skills of an MBA with the knowledge of AI.
These are the seven skills needed for success in the new era of artificial intelligence:
- The ability to clearly communicate the vision. One of the critical skills leaders need in an integrated AI world is the ability to communicate their vision transparently. MBA graduates who can clearly and concisely explain complex AI systems and the results they produce to non-technical stakeholders are highly valued.
- Collaboration and teamwork. In order to develop and manage AI systems, teamwork is essential. Working in teams and collaborating with others are always key business leadership skills, but they are even more critical in the era of artificial intelligence.
- Strategic thinking. In an AI-driven world, where business models and strategies constantly evolve, individuals who can think strategically and adapt to new challenges are highly valued. Identifying long-term business goals, assessing risks, and developing plans to achieve those goals are all components of strategic thinking.
- Adaptability. As artificial intelligence and its uses rapidly evolve, adaptability is a critical skill for anyone who wants to thrive in a business career. Leaders must demonstrate adaptability by always being ready to innovate and to quickly respond to opportunities and challenges.2
- Being comfortable with technology. No longer can technology solely be the realm of engineers. Today’s business leaders need to be hands-on with the technology that runs their businesses. And that technology will constantly change, so leaders need to be technology users who understand how people interact with that technology.
- Understanding people. Even more important than technical skills are people skills. Successful MBA graduates will understand people’s behaviors, motivations, and perceptual and cognitive capabilities and limitations. Those skills will help managers lead a team of people as well as expand the abilities and applications of AI. In fact, psychologists who study intelligence in humans are now helping unlock ways to enhance intelligence in machines.3
- Trust-building. When integrating artificial intelligence into a business, a leader must explain the goal, the changes needed, how it will be rolled out, and over what timeline, in order to build trust in AI. These human skills cannot be “botsourced.” That means that leaders must develop the ability to create a human-centric organization with superhuman intelligence.4 To do so, they must use all of the skills already highlighted in order to build trust with their employees, their customers, and their stakeholders.
Artificial intelligence is changing our world quickly. Business leaders must be able to communicate transparently, collaborate, think strategically, be adaptable, understand technology, understand human behavior, and use all of those skills to build trust. By developing these skills, leaders can successfully navigate the integrated AI world and lead their organizations to success.
If you envision a career in business leadership, prepare yourself for a successful future with a Master of Business Administration (MBA) degree from Walden University. You can feel confident that when you choose Walden, you’re choosing a top MBA online program and a university committed to student success. Walden’s MBA program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP). In 2019, Walden’s College of Management and Technology and School of Management received the first-ever ACBSP Accreditation Plus Award, which recognizes high standards in business education.
An online master’s degree in business from Walden can support you in becoming a capable, confident leader. An MBA is a highly recognized master’s degree that can help you develop the skills that are critical for leaders. Walden’s curriculum includes courses in fostering innovation, promoting collaboration, and communicating as a leader. Embrace technology and earn an MBA online from Walden.
Dr. Steven Verrone is a core faculty member in Walden University’s College of Management and Human Potential Master of Business Administration (MBA) program. Dr. Verrone’s background is in marketing management, strategy building, leadership, and higher education. At Walden, he teaches MBA marketing, innovation, and capstone courses. He is a lifelong learner and believes education is the key to success.
Walden University is an accredited institution offering a Master of Business Administration degree program online. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.
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