Leadership in the age of AI

Generative AI presents leaders with new opportunities to increase competitiveness and growth. It’s important to equip your organization’s leaders with the right skills to excel in this evolving landscape.

This article provides insights into the AI disruption in the Middle East and important skills your leaders need to be equipped with for your business to thrive.

Digital transformation remains a critical agenda item for business leaders across the Middle East, reflecting a strategic imperative to boost operational efficiency and secure competitive advantages in the global marketplace. According to a recent Strategy & report, the digital shift is poised to contribute an impressive $820 billion to the region’s GDP by 2030. Leading this transformative wave are the United Arab Emirates and Saudi Arabia, where over 70% of companies are actively implementing digital strategies.

The Hype Cycle for Emerging Technologies 2023 graph from Gartner illustrates that Generative AI is at the peak of inflated expectations, indicating high anticipation regarding its potential impact across various industries. This technology, celebrated for its ability to generate new content and automate tasks, is expected to revolutionize sectors such as healthcare, finance, media, and more by enhancing efficiency, creativity, and personalization of services.

As industries grapple with integrating this promising yet complex technology, they are poised to navigate through subsequent phases of disillusionment and enlightenment before achieving widespread productivity.

“Generative AI will continue to have profound business impacts… as it reaches mainstream adoption in two to five years.”

— Garnter August 23, 2023

The UAE has recently announced a significant $500 million initiative through the Advanced Technology Research Council to boost research and development in artificial intelligence and other emerging technologies. This announcement, made at the World Governments Summit in Dubai, reflects a strong commitment to technological advancement.

Meanwhile, Saudi Arabia’s generative AI market is projected to exceed $1 trillion by 2030. Globally, businesses stand to gain an additional $2.6 to $4.4 trillion annually from generative AI.

According to a Boston Consulting Group report, 61% of executives in the Middle East anticipate these technologies will enhance productivity by over 10% by 2024. Despite regional training surpassing global norms, challenges persist in fully equipping the workforce and navigating future AI regulations.

While artificial intelligence (AI) and automation provide valuable tools that enhance operational efficiency, they lack the capacity for empathy, emotional intelligence, and the nuanced interactions that define influential leadership. Real change and inspiration within teams are most profoundly influenced by leaders who connect on a personal level—those who understand the subtle dynamics of human emotions and relationships. Such leaders create “friction” through engaging discussions and challenging conversations that drive the organization
forward.

“To listen with empathy is the most important human skill.

— Dr. Stephen R. Covey

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