Transformation Opportunities: changing roles for the better with AI
![Transformation Opportunities: changing roles for the better with AI](/fileadmin/_processed_/6/b/csm_OI-Website-Tech-Puzzle_b43b7d9d4c.png)
Artificial Intelligence (AI) is in the headlines for all the right reasons and the technology which spans machine learning, natural language processing, robotic process automation and large language models offers huge opportunities. Executive Interims with experience of introducing these technologies into firms can deliver extraordinary results.
When embarking on an AI journey there are big questions to explore. Why is an organisation interested in automation? What is feasible? Where will the best results be achieved? How can the data be captured?
Once those sorts of questions are addressed, then it will be necessary to evaluate: What new services can be delivered? How are teams engaged? What risks need to be managed? How are biases recognised and how can these technologies be deployed safely and at scale?
Acting as the catalyst for innovative thinking as well as leading the design and deployment of best practice, Executive Interims can help with these challenges and work with firms to maximise the value from harnessing AI.
Christopher Willmott, an Odgers Executive Interim who successfully completed assignments developing digital, data and automation strategies in the Financial and Professional Services sectors, has developed a set of practices to guide teams as they prioritise, develop, implement, monitor and scale applications with a focus on six steps:
- Process evaluation & automation assessment
Recognise that not all processes ‘are equal’ and a comprehensive and critical analysis is needed that aligns the process landscape to the business’ operating model, identifying which processes are most suitable for end-to-end automation and what foundational data is required. Output: Agreement on intake assessment and prioritisation.
2. Platform selection
Capitalise on the technology stack that’s already available and, where necessary, select new tools, point applications or third party solutions that meet the business requirements and will achieve immediate value. Output: Application architecture that enables rapid turnaround and quick results.
3. Use cases – building momentum for the journey to automation
Match the prioritisation against the teams’ capacity to deliver and re-engineer the chosen processes to improve activities, release capacity, provide the data for analytics and deliver for clients. Output: Establish the journey to automation.
4. Development and control – the Automation Op Model
Manage the development and deployment of use cases and introduce governance structures aligned to business standards and risk parameters whilst also re-defining roles and responsibilities. Output: Automation operating model and governance structure.
5. Change and communication framework
Agree a change plan and communicate the benefits: meaningful work, problem solving, operational resilience, 24/7 processing and capacity benefits. Focus on building the teams’ skills to leverage automation: data quality, analytics, innovation and relationship management. Output: Communicate benefits and build skills.
6. Scaling solution’s scope and access
Ensure data is secure, access is controlled, ethics understood, outcomes are transparent, and clients and their teams trust the results and are able to benefit from the improvements. Output: Risk based approach and robust use and protection of data.
These are early days for AI deployment and given how each step will impact every aspect of a firm, the journey to automation requires co-ordination, focus, time, effort and resources. Executive Interims can help with this journey bringing business, finance and technology teams together to achieve great outcomes.
Some organisations have already dipped their toes into the water but very few are yet able to provide multiple use cases that demonstrate the full scale of the AI opportunity. That will change…but it will deliver the most for businesses that have carefully thought through their transformation strategy.
Please get in touch with Becky Mackarel to find out more about Christopher Willmott and other interim talent with relevant transformation experience in Financial Services and Professional Services.
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