AI is changing the shape of leadership – how can business leaders prepare?

illuminem summarizes for you the essential news of the day. Read the full piece on World Economic Forum or enjoy below:

🗞️ Driving the news: AI is reshaping leadership and business operations, intensifying the need for a delicate balance between harnessing its potential for growth and addressing its ethical and security implications
• This transformation requires a proactive adaptation to a rapidly evolving AI-driven landscape, especially as Europe readies for the implementation of its AI legislation

🔭 The context: The EU's forthcoming AI Act, the world's first comprehensive AI regulatory framework, is setting the stage for major shifts in AI governance and adoption
• It categorizes AI applications by risk level and mandates stringent compliance to ensure innovation is coupled with accountability and human oversight

🌍 Why it matters for the planet: The shift towards AI in business practices has significant implications for sustainability and ethical governance
• Proper AI implementation can lead to increased efficiency and reduced waste, but also requires careful consideration of privacy, security, and societal impacts, aligning with broader Environmental, Social, and Governance (ESG) goals

⏭️ What's next: Business leaders must develop robust AI governance frameworks and ethics boards to navigate the new regulations and societal expectations effectively
• These structures will help ensure that AI technologies are used responsibly, promoting long-term sustainable growth and innovation within the regulatory and ethical parameters set by the AI Act

💬 One quote: "This new AI era demands trust and transparency from the top down," states Ana Paula Assis, Chairman for IBM in Europe, the Middle East and Africa.

📈 One stat: 82% of business leaders have deployed or plan to deploy generative AI in 2024, highlighting the rapid adoption and strategic importance of AI in modern business practices

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