Lawyers & Compliance professionals cannot simply just be “botsourced”.
Artificial Intelligence coupled with Human Skill is the way forward.
Many leaders believe that AI is a “plug and play” technology investment that will consistently break the earnings dam.
However, a very recent five year long study published in the HBR, concludes in fact that the secret to AI success is actually people.
The study studied those organisations like Google, Apple, Zappos etc., who lead in the AI field.
These companies are regarded as having the best AI technology.
But, it is only when they augmented the AI machine power with human skill that they have been able to capture the full benefits or impact of AI.
So, turns out that we are thinking about the AI puzzle all wrong.
AI technology is not the end in and of itself. Rather, it needs to be used to bring out the best in people.
The best outcome for profits is a business model where AI machines and humans are integrated.
Machines will always be more precise and faster at doing repetitive and automated tasks.
However, our uniquely human skills of intuition, creativity, judgement, care, adaptability, innovation etc. are imperative to business success.
The study goes on to suggest a business model for how we can create this human-centric organisation with super-human intelligence.
They propose a four layer model based on learnings from companies like Siemens, Google, Capital One, Facebook, Haier and Zappos.
The authors hope that with this model, companies can create the conditions for realising super-human intelligence and performance, delivering sustainable competitive advantages in the age of AI.
You can read the full article and about their proposed model here