7 Reasons : Why Leaders Need To Embrace Emerging Technology?

Changes in Leadership Development Strategy and implementation are required as a result of digital and technological disruption. Technology has promoted, and in some cases, created new, sectors which is more important than how the workforce demands have changed. The sum of these elements creates the business case for new tactics and talents to satisfy market demands. This implies that there must be knowledgeable leaders. Organizations run the danger of losing market share or experiencing market decline without appropriately developed leadership competencies to satisfy the present, continuously changing market needs. The necessity for formal leadership development programs and experiences with structured training have been accepted by many businesses. Organizations have benefited from Technological Advancements by lowering costs through electronic processing, increasing cooperation through virtual teams, and improving work-life balance through more chances for teleworking. However, the execution of leadership development projects does not always take technological changes into account. Leaders today face many challenges, but the greatest is the inability to keep up with the speed and scale of the world. In a hyper-connected world, where information is available at the touch of a button, it is impossible to keep up. The best leaders are prepared to embrace new technology and use it to their advantage. Leaders Must Embrace Emerging Technology as much as possible to remain competitive in the Modern Workforce. Today, a leadership role requires communicating, collaborating, and making decisions.

Why Leaders Need To Embrace Emerging Technology

1. Employees Want Digitally Savvy Leaders

Today's employees want their leaders to be digitally savvy, not just in communicating using social media but also in using technology to enhance their productivity and workplace efficiency. They want their leaders to be able to answer questions, solve problems and make decisions in real-time. They don't want leaders who are absent or lack basic digital skills. Instead, they want their leaders to be transparent, accessible, and able to provide a constant dialogue.

2. Improved Company Culture

Leaders who adopt new technology are better equipped to build a culture of collaboration and transparency. Employees want to feel their leaders have their best interests at heart, not just their own. They want to know that their leaders are transparent and open when making decisions and that their leaders are always available to answer questions. They also want their leaders to be respectful of their ideas and concerns, even when those ideas or concerns don't align with the leader.

3. Focus on Purpose

Investing in emerging technology, like artificial intelligence, allows leaders to focus on their company's purpose. In the past, a leader's purpose was limited to their job title. Today, leaders need the ability to lead their company in a way that allows them to work on their purpose simultaneously. Rather than being confined to the traditional brick-and-mortar structure of the past, leaders today could work from anywhere and focus their time where it has the most significant impact on their business.

4. Strong Industry Presence

Leaders who embrace emerging technology are better equipped to build a strong presence in their industry. They can connect with other industry leaders, share best practices and create a community of peers who are committed to their company's success. These leaders can also expand their company's reach and build a strong brand, generating more growth opportunities. Moreover, they are better positioned to attract top talent, which produces a culture of innovation and continuous improvement.

Also Read: 6 Ways To Upskill Your Work-Force

5. Build Better Relationships

By embracing technology, leaders could build stronger relationships with their employees. They are better equipped to listen, understand and respond to their employees' concerns and ideas. They also can build a culture of collaboration and transparency, which creates a sense of belonging and empowerment. This builds a dedicated workforce, generating higher employee engagement and better productivity.

6. Streamlined Operations

Customers and clients want an environment that embraces approachability while delivering consistent pleasing experiences. Today, leaders are better equipped to operate more efficiently. They can automate processes, which reduces the time needed to perform specific tasks. This, in turn, reduces the time required to perform other duties and allows leaders to focus on their purpose. Leaders also could use technology to enhance their productivity and improve the quality of their work.

7. Benefit From “Mutual Mentoring”

Today's leaders benefit from the ability to build a culture of mutual mentorship. They are better equipped to connect with other leaders with similar experiences, generating a sense of belonging and empowerment. They can also build a strong network of peers committed to their company's success, generating growth opportunities. Moreover, they are better positioned to share their experiences and challenges with their peers, which produces a culture of innovation and continuous improvement. Moreover, younger, tech-savvy employees can mentor older employees to improve digital transformation in workplaces.

Closing Thoughts

The benefits of emerging technology go far beyond a traditional business's boundaries. Today's leaders are better equipped to build a continuous improvement and innovation culture, which generates higher employee engagement and results in better productivity. Finally, they can build a strong presence in their industry, generating more growth opportunities.

This Content is contributed by the Content Contributor Tracie Johnson for ThinkWithNiche, a initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the Content Contributor and not of ThinkWithNiche.