Mastering the 5 Traits of Successful Change Makers in the AI Era: A Guide for Business Leaders

Leading change in businesses can be scary. It requires a lot of knowledge, experience, and confidence to pull through. Plus the success rate is never in your favour. In this era of AI, it can even be harder as the dynamic keeps changing at rapid speed and in various directions, disrupting the core operations of various industries. But the results are always worth it.

Here at ProQuest Consulting, we’re dedicated to empowering you to become a visionary leader, adept at navigating these changes. Let's explore five essential traits that define successful leaders in the AI era.

Trait #1: Adaptability

According to this research done by Grand View Research, the Compound Annual Growth Rate (CAGR) for AI will be 37.3% from 2023 to 2030. This means that as the markets are constantly being disrupted, adaptability is all the more crucial for success. Business leaders must be willing to embrace various changes and pivot their strategies to leverage the potential of AI technologies in overcoming their current challenges. Ensuring that their teams are well-equipped to support the requirements to grow is a top priority. This can span across various activities such as:

1. Employing Regular Market Research Activities
2. Reevaluating Customer Feedback and Engagement
3. Executive Vision Casting
4. Internal Review and Analyses 
5. Innovation and Adaptation: Reviewing Current Tech Stack and 
6. Forming Strategic Partnerships and Alliances

Embracing change is not just about survival—it is about thriving in an AI-driven world. 

ProQuest Tip: Make sure that you are measuring the right metrics to review if you are meeting your business’s goals. If you are not sure where to start, you might need a deep dive session with your executives and iron out your priorities. Contact Us today for a quick health check on your business.

Trait #2: Innovation

Leaders who foster a culture of creativity and experimentation are more likely to pave the way for groundbreaking solutions that will benefit their businesses the most. It is important to keep researching, understanding, and upskilling to find better options and apply them at the right time.

Here are 9 AI-related skills that you can start keeping tabs on:

Embracing innovation means pushing boundaries but managing risks accordingly. It isn’t just about riding on the new trends, but prudently assessing the current situation, resources, and capabilities before rollout. Some exercises like A/B testing, risk assessment, iterative implementation, and user-centric adoption review may prove useful in insight gathering.

ProQuest Tip: Use the 70-20-10 innovation rule:

The 70-20-10 rule is a guideline for making adjustments to ratios of resources and focus in an organisation’s innovation efforts:

• 70% Core Innovations- Retain your core and apply minimal innovations & improvement to ensure that the critical operational activities are maintained.
• 20% Adjacent Innovations- Test newer changes on products, services and markets that are adjacent to your company’s current businesses. These carry moderate risk but aim to extend innovation into new but related areas.
• 10% Transformational Innovations- High-risk, high-reward initiatives to define new markets or redefine already existing ones. As these require a lot of time and resources, but may not necessarily return value immediately. 

We at ProQuest believe in the idea of continuous improvement. While innovation can be in the form of new technology, small improvements can also be innovations that can spark great change in the long run.

Trait #3: Leadership

How many of your employees feared that AI would one day take their roles in the workplace? A leader is no leader without these things: a team to lead, a vision to reach, and a plan for how to get there. 

Trust is the base of leadership. Every human being needs to feel safe in the places where they live and work to function most effectively. But with the wrong understanding of what AI can do and what it will be used for, employees can lose trust in their leader and company, and ultimately lose the optimism to drive results.

An effective leader is called to gain information, distil what is important, and translate this for the team to effectively bring out the most value to achieve the goal. By setting clear objectives and expectations for AI integration, leaders create a roadmap for success that guides their teams towards tangible outcomes.

ProQuest Tip: Barolsky’s Trust Equation

Barolsky takes Meiser’s Trust Equation to the next level to further its relevance in explaining trust in long-term B2B relationships. In this case, we shift the perspective to help leaders solidify their standing with their staff. Take some time to review the following facets of your work and compare your actual results to the goals that you want to achieve.

A Trusting Relationship = (Understanding x Reliability x Value x Affinity) / Complacency

• Understanding: the leader’s understanding of the member’s needs, capabilities, and the external situations that can affect the member. 
• Reliability: the actions the leaders take, his/her predictability, and how others find them dependable. It’s all about delivering promises as a leader, the first time, and every time.
• Value: the value that the member can get by working together with the leader. Whether it’s network, training and skills, opportunities and overall support, it is good to review what your members can get from working with you to earn their assistance.
• Affinity: Long-term relationships are largely based on an authentic emotional connection between the parties underpinned by common values and interests. 
• Complacency: Parties can get bored with each other and start taking everything for granted. Continuously exploring new ways to deliver and create value is central to keeping a relationship strong and growing.

Trait #4: Resilience

Success doesn’t necessarily come to the fastest, but to those steadfastly focused on their goals, using each challenge and opportunity as a springboard to be better.

Navigating the complexities of what is dubbed as the fourth industrial revolution can be both daunting and discouraging. Technology keeps evolving at an unprecedented speed, so too the demands of the market. It is vital to acknowledge that keeping pace with every change and maintaining a ‘perfect trail’ is unrealistic. We all face the limitations of time and capacity, so in striving for progress, effective change-makers also need to practice self-compassion for themselves and their teams in moments of setbacks.

Change makers recognise when it is right to augment their strategy with AI to improve their productivity and strengthen their resilience. Partnered with empathy and wellness, they prioritise the well-being of their team, solidifying the foundation of operations, and build a purposeful, goal-driven team.

Trait #5: Collaboration

Take a good look around and make sure you’re working with and getting information from the right people.

Jim Rohn’s insight,  “You are the average of the five people you spend the most time with,” highlights the crucial role of our associations in shaping success. For change makers, choosing collaborators wisely is pivotal- whether in your team or within your sphere of influence.

Successful change-makers understand the importance of surrounding themselves with individuals who share their aspirations and yet challenge and complement their skills. This deliberate selection process fosters growth and innovation which further amplifies strengths, expands horizons, and accelerates thought progress and successful actions towards shared goals.

Utilise partnerships, and even social networks to keep updated with the latest resources in the field you want to make your waves in. Listen to their experts, connect with them, and learn from them, then share it with your team. 

ProQuest Tip: List down various experts that you follow, and identify why you want to get out of them. Discuss with your team members and define from then a picture of what your goal is for the whole time to keep them aligned and get their buy-in for the big picture.

Conclusion

In this fast-paced AI era, the keys to being a successful growth catalyst boil down to adaptability, innovation, leadership, resilience, and collaboration. These traits go beyond simply keeping up with technology and market changes. They're about fostering a culture that's all about growth, empathy, and looking ahead. By embracing these qualities, leaders can differentiate themselves to be growth champions and guide their organisations through changes with confidence, ensuring they thrive.

At ProQuest Consulting, we're all about empowering you to make the most of AI and other tech advancements to reach your goals. Whether it's reviewing your strategy, boosting your team's skills, or driving transformative changes with technology, our team of experts is ready to support you every step of the way. Let’s get started on your pathway to be a successful change-maker in your business! Contact us today!