As a business professional, it’s crucial to understand that the pace of innovation in your organisation isn’t dictated by internal discussions, gut feelings, or the latest boardroom strategy session. Instead, it’s determined by the broader industry landscape—what your competitors, suppliers, partners, distributors, and society at large are doing. These external forces are what truly set the pace.
There are times when it’s strategic to be a deliberate follower, allowing others to take on the risk of experimentation. However, being content to follow can sometimes put you at a disadvantage. Therefore, it’s essential to carefully consider where you need to lead, where you should match industry standards, and where it’s prudent to follow. In areas where leadership is necessary, it’s clear that you’ll need to elevate your efforts significantly.
There’s no one-size-fits-all approach here. However, one thing is certain: over the next five years and beyond, AI will provide tools that enhance nearly every capability, particularly those involving language or cognitive processes.
The key questions for you as a leader are: How do you decide when to lead, match, or follow in various areas of your business? How are you engaging with these decisions? And how crucial is it for you to act in these areas?
Moving into the future with speed, determination, and an understanding that challenges and setbacks are inevitable is the right mindset. Transitions are inherently tough, so it’s important not to get too caught up in the multitude of concerns often highlighted in the press. These issues are being actively addressed and resolved. Mistakes will happen, and perfection is elusive, but the learning process comes from deploying, iterating, and improving—principles that all businesspeople inherently understand.
Equally important is recognising the human aspect of these transitions. How will your workforce adapt to new ways of working? How will your customers learn to interact with your company in new ways, discover services, or engage in purchasing?
A compassionate mindset is essential here. However, compassion doesn’t mean avoiding difficult decisions or failing to push forward with ambition. It means caring deeply about the human experience during these transitions, understanding the human costs, and ensuring that human well-being remains the ultimate goal—now, during the transition, and into the future.