Avoiding the technology fallacy
Unfortunately, prioritizing technology above humans is still an issue. Many business leaders appreciate the power of technology and are working on their own digital transformations to modernize their companies and increase their competitiveness, but McKinsey states that less than 30% of these initiatives are successful.
Part of the reason for this high failure rate is due to “the technology fallacy," in which executives mistakenly assume that responding to digital disruption in their industry is about adopting and implementing digital technology tools. This is understandable, but the human and organizational aspects of digital transformation are often more important than the technological aspects. In other words, effective digital transformation may not involve new technology at all. The most important transformation work often occurs within human minds. Yes – humans are, indeed, underrated.
Ultimately, AI is changing the nature of work by lowering the cost of prediction. This phenomenon is driving manpower away from analysis and insights and toward creativity, judgment, and leadership. Some worry that AI will take too much work away from humans, but I disagree. Instead, it opens up new opportunities to make the most of the qualities that separate us from the machines.
More than 400 years ago, Galileo asked the question: “Who indeed will set the bounds of human ingenuity?" History has taught us that this boundary does not exist; and machines will help us raise it even higher.