Recently, Chat GPT has been creating a global sensation with its superior ability to answer any questions and have natural and emotional conversations. However, there are also concerns about a distant future in which humanity will be destroyed by the “lords from the machines” created by the human brain.
Or perhaps this is simply the law of evolution in work methods. Regardless of what it is, the most important issue at this time may be adapting to its presence in all human activities. Its impact on society, economy, especially in the business field – where human behavior is always at the center – is undeniable. Certainly, CEOs who are in charge always sensitive to market changes are most aware of this, and everything is at risk of falling into the trap of backwardness, including in a new management method within a business. Let’s find out more about this analysis with Simplamo:
1. What is Chat GPT? Unimaginable numbers in artificial intelligence forecasts
a. What is Chat GPT?
Chat GPT (short for chat generative pre-trained transformer) is an automatic language model by OpenAI. It was created based on a large dataset of human conversations and can respond like a human in conversation. It is one of the largest and most powerful natural language processing AI models with over 175 billion parameters.
Chat GPT has been widely used in various fields, from finance and analysis to everyday issues surrounding life, and can even provide incredibly sound advice. The interesting and natural way of conversation is something that makes Chat GPT amazing for all users when thinking about machines. It is both intelligent and humorous, no different from a conversation between people.
b. Unbelievable forecasts on artificial intelligence
Just five days after its launch, Chat GPT reached one million users worldwide, making it the fastest-growing application in history, far outpacing Steve Jobs’ Apple iPhone, which took more than two months. This is enough to show the incredible level of public interest in the “Superintelligence” AI tool. It has become more familiar to many people from the strange.
Company research firm Gartner predicts that by 2025, the AI software market will reach nearly $134.8 billion and the expected market growth rate will accelerate from 14.4% in 2021 to 31.1% in 2025 – far exceeding the overall market growth rate. AI will be the new way of working in the future, and all processes, including business, will have to accelerate to avoid falling behind in this new way of working. If current profits do not keep up, they will be defeated by the performance frenzy of artificial intelligence.
2. The Law of Evolution in the Way of Working
The evolution of the way we work is inevitable, proportional to the level of development in human thinking, from the stone age to the agricultural and industrial revolutions, the impact of technology, and most recently the application of artificial intelligence (AI).
“If you have a million things to worry about, the first thing you need to do is figure out what to prioritize,” said Paul Bannister, strategy director at Cafemedia.
Artificial intelligence is an inevitable step forward. The case of Chat GPT is a typical example, a comprehensive encyclopedia for any query you make. The problem here is how to stay ahead and adapt to the changing work trends of the future, which are rapidly changing and making all traditional working methods fall behind, even humans if they do not continuously learn and apply more automated and intelligent working methods. And business management methods are not beyond the scope. Because in the future, AI may perform time-consuming management tasks of managers faster, better, and at a lower cost.
“Management at all levels will have to adapt to the world of intelligent machines.” – Harvard Business Review
3. How to manage a business properly in this era
The transition era is gradually shifting, and the turnover in the way businesses operate cannot be avoided. At the moment of transition, there is always a high level of layoffs, and companies that are ready to change and overcome internal difficulties will continue to develop strong and stable in the coming decades. If not, they will easily fade away. Certainly, the CEO is the one who understands the changes taking place in the way the company operates, from leadership to employees, and a painful leadership deadlock needs a solution.
How can managers, from the front line, thrive in the AI era? To find out, Harvard professors surveyed 1,770 managers from 14 countries and interviewed 37 executives responsible for digital transformation in organizations. From there, they identified four methods that successful managers need to master.
Method 1: Utilize AI to save time in management
According to the survey, managers at all levels spend over half of their time on coordination and administrative control tasks. In the future, AI will automate many of these tasks.
Recently, data analysis company Tableau conducted a survey showing that managers who use automated management tools have positive results. As many as 86% of respondents said they want AI support for monitoring and assisting in management issues.
Method 2: Make better judgments, escape traditional ambiguity
The essence of human judgment lies in experience and expertise. Previously, experience was gained through converging factors such as historical issues, organizational culture, and internal empathy. However, according to a recent Harvard University survey, managers have realized that with the help of AI data analysis, judgment skills are gradually being optimized towards creative thinking, data analysis, and logic. This is the top priority for successfully implementing strategic goals.
As Layne Thompson, Director of ERP Services at the US Navy’s IT organization, said, “Usually, managers think about what they are doing, based on the actual situation, always needing judgment, decision-making, experience, and responsiveness. They will fail if they simply apply the rules. And if one of the potential promises of AI is the ability to make decisions, then we should think of technology as a great support tool.”
Method 3: Consider Intelligent Machines as “Colleagues”
Many progressive managers have noted that AI will be like a “colleague”, and we don’t need to “compete with machines”. Intelligent machines can supplement many jobs that require precision and meticulousness, support decision-making and simulation based on data. In fact, 78% of surveyed managers believe that they will trust the advice of intelligent systems in making future business decisions.
A company called Kensho Technologies specializes in providing investment analysis services. Its system allows investment managers to ask simple investment-related questions in English, such as “Which industries and sectors performed well in the three months before and after interest rate hikes?” and receive answers in a few minutes. Imagine how such technologies can support individuals and management teams in evaluating the consequences of decisions and predicting super-fast situations.
Method 4: Develop Social Skills and Expand Networks
Most managers acknowledge the importance of social skills, communication, and networking. It is believed that in the future, the role of managers will become more like “facilitators” or “coaches”, with a focus on team collaboration and communication. Therefore, developing social skills and expanding networks is a key factor in improving management performance.
Because although technology can help us extract knowledge, synthesize partner, customer, and community evaluations…, as a leader, you must be able to gather perspectives, consult with team members, and have a wealth of diverse experiences.
4. Want to improve but still facing many internal problems
In order to withstand the changes of the times, businesses need to have a strong internal management force. However, in Vietnam, many businesses have collapsed due to the chaos in finding a scientific and unified operating method for the company.
Every day during operation, there will naturally be many problems arising, each person and department being caught up in their own issues, causing chaos for the overall operation process. The boss is always overloaded with small issues. Without measuring and storing tools, aiming to achieve KPI/OKR goals becomes difficult due to decisions based on intuition and lack of data.
The fear of management among CEOs does not solely come from the lack of data input tools, as Excel and some related software can also do the job. But the main reason causing the congestion problem in the management of many business owners in Vietnam lies in the absence of integrated software with a comprehensive target management method, detailed breakdown, and the core strength building of the business combined with data measurement towards achieving the highest OKR/KPI.
Specifically, the most common pains that CEOs are facing right now include:
- Ambiguous and unnecessarily complicated business structure
- Increasingly difficult to manage people, especially Gen Z (the generation that is challenged to overcome happiness)
- Everyone, every department is caught up in their own issues, neglecting the common goal for fear of affecting their own interests
- Chaos and overlapping in roles and responsibilities
- Unable to allocate goals to the right people
- The boss is always overloaded with small issues, occupying multiple positions at the same time
- Relying on a higher boss
- Decisions made based on intuition due to lack of data
- Leadership disagreements
- Different thoughts from the previous generations, disconnecting between leadership and employees
- OKR/KPI goals are always unable to be completed due to disconnected small goals, lacking correlation with each other, with only one unfulfilled goal leading to other goals being unable to continue.
5. Simplamo – Differentiated Management Software from Simple Operations, Confidently Keeping Up with the New Era
“There is nothing in this world that is worth being afraid of, only things that need to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
The Simplamo.com platform is specifically designed for bosses. Due to its simplicity and overall progress observation, the ability to complete goals is easily visible on Simplamo, and any deficiencies in any action cannot be concealed. Problems are quickly resolved, with a focus on generating revenue in the pursued field.
Simplamo builds a management framework based on effective internal structural operations towards the goal of OKR/KPI business targets based on core competencies. Simplifying the execution process, easily understandable through scientific framework, based on data and metrics measured on the software, shortening the extreme distance to reach maximum growth, satisfying the desire, and winning the great love of bosses.
7 characteristics that make Simplamo a differentiated management software from simple operations, achieving maximum business efficiency, which every boss always seeks:
- As leaders, most of them have a strong ego, making it difficult to unify opinions in the board of directors. However, Simplamo has a tool to build a core target vision using 8 simple questions based on the modern management model from the United States. It helps leaders to look in the same direction and quickly move towards a vast world.
2. The responsibility chart specifies tasks for every position in the company, from the top 5 core roles down to each individual, because transparency and simplicity help “minimize misunderstandings” within the team.
3. Eliminate the vague “Goal” dream by setting the most feasible goals for each industry, all suggestions are integrated on the Simplamo software, with pre-made templates, just click and it’s done – no need to be a doctorate to do it.
4. KPI indicators are tracked entirely on the Scorecard and are constantly discussed to match business situations and market flexibility.
5. One-on-one dialogue increases the ability to delegate authority – this shows the greatness of an employer because only confident and courageous employers can push employees to explore how good they are by assigning them tasks beyond their capabilities.
6. Make confident decisions based on data with a solid foundation stored in the software.
7. The Weekly Meeting tool addresses tons of gaps in plan execution – An effective weekly meeting with a ready-made framework, 7 specific steps, all linked together and automatically creating issues when they arise. (effectively solves problems)
After just 4 weeks of successful implementation
In the age of artificial intelligence (AI), everything is geared towards the future, and that future is built on the bricks laid today. Manage your business on Simplamo right now, as business growth is easier when aiming for OKR/KPI goals, bringing your business to new heights. Tomorrow will be better than today, moving up exponentially.
Use Simplamo management software today to free yourself from operational worries and unleash breakthrough growth!
Simplamo is a modern and scientifically-based management software that uniquely combines KPI and OKR, making every aspect of operation simple and approachable for every employee. It relieves pressure for leaders, allowing them to focus on important missions and optimize work performance for the business.
Experience Simplamo and feel the change in just 4 weeks! Register for a Simplamo demo at: https://app.simplamo.com/sign-up