People, Process, Product: Part Three
In the first post in this series, we made this point about technology investments:
Investments that ignore the human factor may indicate one or both of two things — SOS (shiny object syndrome) or DCC (dogs chasing cars) … success is the result of three factors, in this order: People Process. Product.
In the second post we called change management:
a systematic approach to managing people through change to achieve desired outcomes — preparing, equipping, and supporting individuals, teams, and organizations to adopt, to adapt, to personalize, and to sustain changes effectively, minimizing resistance and optimizing outcomes … [addresses] the emotional and behavioral aspects of change, not just the technical ones … Change is iterative—start small, learn fast, and view people as partners, not obstacles.
We read an article in the May edition of Best’s Review that had us thinking about people, process, and product again. The article’s headline is, “Automation Is Changing the Workplace, but Experts Say Troubles May Arise”. True enough. But two of the points in the article bear examination.
Point 1
One of the sources cited in the article expressed concern about:
an AI bust similar to that of the dot-com bubble burst in 2000 … a sudden AI bubble burst could lead to “a wave of litigation against corporate directors and officers” … although there is no indication that an AI bubble exists just yet.
Fair enough. But the fact is it hasn’t happened yet. If we’re aware of the possibility it might, we can manage the necessary change such that it doesn’t. And one of the questions we might ask ourselves is: What did we learn from the dot-com bubble?
That could be topic for another post.
Point 2
Another source cited in the article contends:
Insurance has one of the highest rates of automation acceleration among all sectors at 97% … On the way to that transition … three distinct roles have emerged: reimagined practitioners, industry futurists, and change orchestrators. The reimagined practitioners include underwriters, claims professionals, actuaries, and brokers who are seeing their roles evolve with the rise of artificial intelligence, advanced analytics and automation. Organizations are redesigning jobs around tasks rather than traditional roles, as the jobs change from individualized, manual processes to collaborative, integrated disciplines.
That one’s a definite maybe. Yes. Studies indicate insurance is, indeed, automating faster than many other industries. Yes. Three distinct roles may have emerged in some companies. What about others? What have they observed? How have they enabled their people to respond and adapt? How have they evaluated their processes and re-engineered them as a result? If not all people are the same, neither one size nor one process will fit all.
The Real Point
If one size and one process won’t fit all, neither will one perspective. If we didn’t love Best’s Review, we wouldn’t read it so much. We’d just like to make sure we give our people and ourselves credit for having learned — and for using what we’ve learned to manage change effectively and productively.
We can do this. That’s the real point.