Masterminds and Machines: Harnessing AI in Strategic Leadership

Masterminds and Machines: Harnessing AI in Strategic Leadership

Copyright: © 2024 |Pages: 13
DOI: 10.4018/979-8-3693-1946-8.ch006
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Abstract

Artificial intelligence is a vital tool for any organization and is quickly growing in all business streams. AI is leading commercial decision-making in all areas. Digital technology has created free time for many chores, but now AI determines commercial variables. Advancements have caused exponential growth in almost every firm. Businesses that conduct repeated operations require a long time to accomplish other jobs, yet labor hours or other factors cannot be avoided. Business growth is driven by predictive analytics, natural language processing, etc. AI-based predictive analytics employs data mining, machine learning, and statistical algorithms to examine previous data to forecast future trends. The NLP may use different algorithms to identify problem statement patterns and concerns. Proactive problem-solving is its key attribute. Businesses that employ AI solutions will always have higher productivity in several industries. This chapter will teach how AI can improve company leadership.
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Introduction

Artificial Intelligence

The digital age has progressed via a series of technological milestones. With the advent of the internet, the spread of mobile devices, big data, and cloud computing, every stage has significantly transformed our way of life and professional endeavors. However, among these revolutionary developments, artificial intelligence (AI) stands out as an exceptionally profound influence. Inspired by human brain functions, its neural networks and algorithms enable robots to learn, adapt, and make decisions in ways that were previously believed to be unique to humans. Over the past few years, artificial intelligence (AI) (Abdulwahid, A. H., et al., 2023) has experienced substantial expansion, emerging as a crucial instrument for businesses to optimize processes, reduce production expenses, and achieve organizational goals . As (Manoharan, G., et al., 2023)AI gains proficiency in natural language processing, predictive analytics, and other functionalities, it will assume a progressively significant role in informing the decisions of leaders. Digital technology, which was once a source of amusement and pleasure, has evolved into the means by which society operates on a regular basis. We live in an era of exponential growth, with technological breakthroughs becoming more vital to today's workplace than ever before. At its most basic, AI-powered scheduling software assists firms in reducing the time and resources required to manage workforce. Time-consuming and resource-intensive repetitive activities, such as data entry and invoicing, are a common requirement for the majority of firms. By implementing AI technologies and machine learning techniques (Tripathi, M. A., Tripathi, R., et al., 2023), businesses can free up employees' time to concentrate on higher-level tasks that demand greater critical thinking and innovation.

Natural language processing (NLP) is a subfield of artificial intelligence that focuses on comprehending and interpreting human language. Text data is analysed by NLP algorithms to extract meaning, mood, and purpose. Businesses can use this to better comprehend client feedback, automate customer care interactions, and develop personalised content. Businesses may employ NLP algorithms to analyse social media client feedback to find common concerns and patterns. NLP algorithms can assist businesses in proactively addressing these issues, hence enhancing overall customer experience.

Leadership

Leadership can be interpreted and described in a variety of ways. Leadership and accountability are related in a broader sense. A leader is responsible for a variety of tasks. Both the corporation and the employees are included in this. For example, for personnel, the areas of information, qualification, and communication can be stated. Employee leadership can be perceived in numerous ways. This is seen in the diverse leadership behaviors that have emerged. Leadership varies depending on the company's specific management level (Manoharan, G., & Ashtikar, S. P. 2024). During the value development process, leadership takes on a distinct role. It creates, settles on, and establishes specific goals and plans. Leadership both generates and organizes at the same time. As a result, it creates a supportive environment for goal achievement. Leadership also directs and regulates through communication as necessary. In this situation, the nature and style of leadership might vary greatly. Leaders can function in both task and employee modes. The corresponding interpretation is always situational. Task and employee orientation might both be greater or weaker. However, both components are always required for effective leadership (Hettl, M., 2013). Leaders' leadership of employees is always a process. This procedure contains four critical components as seen in Figure 1. The leader exhibits distinct leadership behaviors during the leadership process. The goal is for the led personnel to be influenced by the leader's behavior. Leaders, on the other hand, always have their own set of principles and characteristics. As a result, these factors influence individual leadership behavior. Leadership success is the fourth component. Leaders pursue a goal when in a leadership position. As soon as this goal is met, leadership success follows Frost, M., & Sandrock, S. (2019).

Figure 1.

Framework model of leadership (self-designed)

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