The onset of Artificial Intelligence (AI) should not be seen as a threat but opening a vast number of opportunities for jobs, business and individual ventures, according to transformation strategist and founder of The Strategy Group, and AGSM Fellow, Dr Jeffrey Tobias.

“While the future for society is bright with the continuing onset of AI, there will be many who will suffer job losses and insecurity,” Dr Tobias said. “However, this is not new – technology has been shaping our workforce through every industrial revolution so far.

“Recent research shows that only 5 per cent of digital transformations are successful and organisations need to understand how to adapt to the new world of AI and what effects the new digital economy will have on them.

Dr Tobias, who worked as a senior executive of Cisco for seven years, will next week be a co-presenter at a seminar called Artificial Intelligence and Creative Intelligence in Sydney.

He says many company leaders don’t understand the problems and challenges their organisations face before commencing a digital transformation, often featuring AI.

Eroding current business models

“It is important for leaders to understand how the digital economy is eroding their companies’ current business models, the many opportunities offered and timeframes in digital transformation, as well as the need bring the entire organisation along for the journey”, said Dr Tobias.

Only after considering these factors can an organisation, faced with disruption of its usually out-of-date business model, truly benefit from the process of digital transformation.

Banks are a prime example, said Dr Tobias.

“They are now facing challenges in changing their business models and need to protect their core businesses through new and disparate growth ventures, creating strategic partnerships and creating a culture of customer-centricity.”

At next week’s seminar Dr Tobias will be joined by experts, Bem Le Hunte, Associate Professor Faculty and Founding Director of the Bachelor of Creative Intelligence and Innovation at UTS, together with Professor Bogdan Gabrys, Professor of Data Science in the Faculty of Engineering and IT, UTS, to break down these concepts.

Artificial Intelligence and Creative Intelligence 

When: Tuesday, April 2
Time: 5.30pm – 7.30pm 
Where: BCII Studio Space UTS Building 15, Level 3, 632 Harris St, Ultimo, Sydney.