On September 10th, around 400 women gathered in person (with countless more joining virtually) at the Forbes Power Women’s Summit in New York. The theme this year was “Building What’s Next.” I walked away inspired, with a host of insights that I will take with me as a leader going forward. I’ve been sitting with the overall theme and the threads that were pulled throughout the sessions, and I can’t help but draw a number of connections to how leaders need to think about leading their organizations in today’s environment.
AI is about so much more than the tools
It’s clear from multiple panels, and what we’re seeing in the marketplace, that we’re at a point where organizations need to figure out their strategy around AI. The technology is going to continue to advance and those that hesitate to embrace it are going to be left behind. With that said, it’s not enough to have a great AI platform or even a robust strategy focused on the tools themselves.
May Habib, CEO and co-founder of Writer, aptly underscored this notion, sharing that for AI to thrive – and for it to help your organization thrive – you have to “break the hierarchy” and reimagine processes and execution in a very intentional way. I’ve been seeing far too many organizations fall into the trap of talking about embracing AI, without sufficient action. And while many are starting to implement various use cases, I’m seeing significant gaps that create risks for adoption and the realization of results. For AI to truly drive value, it is critical for leaders to consider:
- What does your organization mean by AI (the use cases are endless) and what do you expect it to enable for your organization?
- What are the current behaviors, systems, and processes in place that either contribute to or hinder the goals you’re looking to achieve?
- How will these behaviors, systems, and processes need to change to enable your goals associated with AI?
“Let the goal drive the outcome”
Sara Blakely, founder of Spanx and Sneex, shared a powerful anecdote that gets at the heart of a key strategy for fostering more adaptability – relying more on principles-based decision-making than hard and fast rules or rigid project plans. Blakely shared that when she launched Sneex, her goal was to create the most comfortable high heel of all time. At first, the team kept trying to make the shoe look like a traditional heel, but this just kept leading to incremental improvements in comfort. She started to get frustrated and came very close to pulling the plug on the project, despite having invested years in product development. But, in one “aha” moment, she was reminded of the initial goal, leading her to completely reimagine the aesthetics of Sneex. Rather than trying to fit into what’s always been done, the Sneex team created a shoe that is drastically different from anything else on the market. This is the perfect example of what’s possible when we let go of the rigidity of a specific plan or how things have “always been done.” Instead, set an ambitious goal, grounded in a handful of key assumptions, and let that drive the outcome. Welcome pivots along the way, as long as they are in service of achieving the ultimate outcome you’re seeking.
The power of the many
Throughout a number of the sessions, panelists highlighted the criticality of engaging many more people. In today’s environment, we can’t afford for leaders to become a bottleneck to action by trying to control every decision or every element of the business. From Regina Dugan, the first woman to lead DARPA and CEO of Wellcome Leap, who highlighted that motivated and engaged teams can make the impossible possible to Erika James, Dean of Wharton School of Business, who underscored that scale is truly enabled by leveraging people at all levels of the organization – the idea of expanding leadership up, down, and across a team or organization was central throughout the day.
We are living in a time that is more uncertain and moving faster than ever before. Organizations need more people looking for, and acting on, threats and opportunities. This requires a new emphasis on “soft skills” which are no longer just nice to have… they are essential. Organizations that have people at all levels with skills around adaptability, change, and leadership are going to be much better equipped to navigate the disruption we’re facing.
Honestly, I already can’t wait to see what inspiration comes from next year’s Summit.
Dr. Vanessa Akhtar is the Head of Consulting and a Managing Director at Kotter Inc., the authority on adaptability and transformation, helping individuals and organizations better lead and manage change via world-class consulting services and leadership development training.