Artificial intelligence is a disruptive force that leaders must channel to positive effect, argues Rob McCargow, Director of AI at PWC
As businesses around the world grapple with the possibilities and challenges of artificial intelligence (AI), Rob McCargow, Director of AI at consultancy giant PwC, has made it his mission to the eradicate myths around this technology and to articulate ways in which businesses can adopt it to positive effect.
AMBITION caught up with McCargow in Istanbul, Turkey, earlier this year, to find out more about his work and his views on the future of business in an age of robotics.
Let’s cut to the chase: is the rise of AI good news or bad news for business?
The rise of AI is good news, but there are caveats. There is a host of considerations that businesses will need to contend with as they adopt AI. It’s a disruptive force that can drive business growth and solve problems, but it has to be considered alongside other risks and challenges.
Fears that AI will ‘take jobs’ appear unfounded as it is also creating new roles. Could you tell us more about this?
The topic of AI’s impact on jobs is rarely out of the press. There have been a number of studies trying to understand the impact of AI over years to come. Our 2018 PwC study found that AI could impact 30% of jobs by the 2030s.
However, there are other factors to take into account. We believe that AI could drive a substantial economic boost to the world economy, adding a potential $3.7tn USD by 2030. This effect tends to drive growth and demand for this technology, but there are various considerations for governments. For example, they will need to think about making adaptations to education systems and changes to public policies, as well as encouraging companies to embed lifelong learning into their training strategies to future proof their workforces.
What are the main barriers Business Schools face when trying to implement AI into their programmes?
One of the big issues the education sector has to consider is the exponential pace of development. The way Business Schools respond and adapt is critical. It’s crucial to get started on this journey now, but you will need to have the core ingredients in place: you will require the right data and access to the right talent – and must apply these to the right problems as well.
There are amazing opportunities to harness AI and transform how education is delivered, especially in terms of approaches to personalised learning.
How can business leaders keep up with business disruption?
In future, business leaders will have to get to grips with disruption quickly. They will need to work across industry sectors and professional disciplines. Leaders will need to be both data savvy and tech savvy, as well as understanding the human impact of new technology.
Business leaders need to be looking at this today, not simply outsourcing it to the IT department.
Can you share some examples of best practice for savvy leaders?
There are a number of things leaders can do. First, they need to understand that technological development will require different approaches to organisational governance and risk management. Existing structures and compliance in a business may need updating to take account of the specific challenges that AI poses.
The specific issue with AI is the ‘black box’ issue. It will be vital for leaders to tackle the lack of transparency in some forms of new technology; it will be important to promote ‘explainablity’ of systems and to understand technical issues that prevent this. This is not just a technical challenge and requires a broader understanding of risk management.
In addition, while an AI application might appear fit for purpose, business leaders will still need to consider secondary and tertiary implications of the technology to predict
and understand any potential unintended consequences.
What does the responsible adoption of technology look like and why is this important?
Responsible technology is absolutely critical. This isn’t just about applying it to the right problems, it’s drilling down to the essence of your organisational purpose; what you stand for; your wider impact on society. An organisation’s vision must align with its technological strategy.
Business leaders need to be tech savvy, purpose driven, and understand the commercial applications of AI. People who can do this will be in high demand in the future.
Rob McCargow works with partners across academia, government, technology vendors, startups and other key stakeholders to drive innovation within PwC and develop new services for clients. He is an evangelist for responsible technology and promotes awareness of the growing ethical agenda relating to AI. He is an Advisory Board Member of the UK’s Parliamentary Group on AI, an adviser to the IEEE Global Initiative on Ethics of Autonomous and Intelligent Systems, a TEDx speaker, and a Fellow of the Royal Society of Arts.
McCargow is particularly focused on issues and policies relating to the impact of automation on the workforce, the future skills agenda, and ensuring that the benefits to be delivered by AI are equitably spread across society.
