1. The algorithmic enterprise is coming
When algorithms make at least 50% of process decisions in an enterprise, that organization has essentially become an algorithmic enterprise. Until recently, this was a far-fetched dream. In 2023, however, this trend will accelerate.
Far from replacing people, algorithmic enterprises will lead to more jobs in industries undergoing drastic shifts in digital transformation, such as banking, insurance, healthcare, supply chain, and transportation, to name a few.
As machines take over manual, repetitive tasks, employees will focus on more meaningful work, the type that people enjoy most. But getting there will prove challenging.
First, technology leaders must identify the highest-value problems and align algorithms with their company's mission. Second, algorithms for decision-making must serve as a means to the end of business value, not a frivolous task.
Additionally, transitioning to an algorithmic enterprise presents unique roadblocks for employees. To address these obstacles, leaders must upskill workers in data science techniques and increase data literacy – two key elements of an enterprise change management process.