Investing in People: The Key to Corporate Performance
Phil Friedman, founder and CEO of Computer Generated Solutions, highlights the importance of investing in human capability amidst the rise of automation and A.I.
For the past decade, executives have focused on digital transformation, including cloud, analytics, automation, and A.I. However, Friedman argues that the biggest threat to corporate performance is not technical, but rather the erosion of human capability.
- Weak communication
- Poor collaboration
- Ineffective leadership
These "soft skills" are now considered "power skills" that differentiate thriving companies from those that lag behind. According to PwC, the widening gap between workforce capabilities and business needs is projected to cost organizations over $8.5 trillion in lost productivity and opportunity.
The biggest threat to performance today isn’t technical.
Author's summary: CEOs should invest in people to improve corporate performance.