Emotional Intelligence in the Age of Artificial Intelligence
| By Nicole M. Cohen
I recently attended a very interesting conference at l’EDHEC Business School, where the importance of Emotional Intelligence was discussed in relation to today’s advancement of Artificial Intelligence (AI).
With the oncoming of innovative AI technologies, the world approaches its 4th industrial revolution. AI is the next frontier, and although this can feel scary to some, the opportunities for growth and progress are also very exciting.
With the constantly changing environment of a digital revolution, it is important for companies to consider the implications behind this evolution and stay focused of what exactly will maintain their added value and competitive edge.
We all know that AI will affect automation and machine learning, but even disciplines that we associate to a human element such as Doctors or Teachers will also be affected. This is why the importance of Emotional Intelligence (also referred to as Emotional Quotient, or “EQ”) comes into play, and is rapidly gaining momentum.
Even if a smart machine will be able to diagnose a disease and recommend an appropriate course of action as efficiently as a Doctor, a smart machine will run into trouble trying to replicate compassion, understanding, and intuition while interacting with human beings. Only a Doctor, ideally with high EQ, can sit with a patient, understand all the elements that affect their overall health, such as stress, finances, quality of life, which all influence the optimal treatment plan.
Human-oriented skills, also known as “soft-skills” such as persuasion, non-verbal communication, social understanding, or empathy are the prized competencies that differentiate human beings from AI.
Smart machines are inevitable, and most would argue, a positive development. However, the bottom line is focusing on the skills and qualities that AI cannot meet.
Human-oriented skills, also known as “soft-skills” such as persuasion, non-verbal communication, social understanding, or empathy are the prized competencies that differentiate human beings from AI.
Companies with the foresight to put in place strategies to evolve dynamically, will focus on the elements that secure their added value on a human level. Performance and production as key indicators to growth and success are directly linked to the workforce, meaning, the people.
Therefore, pinpointing and cultivating the very source of what makes their best performing teams tick is a vital continuing strategy for Management. Research shows that what often sets performing teams apart is innovation.
Innovation comes from creativity.
Creativity comes with the right people, but more importantly the right environment and stimulus.
AI may positively affect our productivity, but EQ will ensure an environment that promotes a sense of belonging and safety which nurtures creativity or innovation inside an organization.
Guess who controls a company’s environment and stimulus?
Management.
In the age of AI, I would argue that a company’s competitive advantage will be largely linked to the investment decisions made in developing the EQ of the organization as a whole.
Leading by example, Management can invest in developing the emotional intelligence of its very culture. EQ assessments and trainings are the simplest ways to challenge mental models about what is important in each and everyone’s role, and begin focusing on how each person can better manage, influence, and relate to others. EQ training and stretch opportunities are effective ways to engage employees in developing their own skills and match the organization’s positive, innovative, and profitable culture.
Research shows that “90% of top performers are also high in emotional intelligence. On the flip side, just 20% of bottom performers are high in emotional intelligence.” Travis Bradberry in Forbes
EQ directly influences the bottom line, plain and simple.
Pepsi found that executives with high EQ generated 10% more productivity, had 87% less turnover, brought $3.75 MM more value to the company, and increased ROI by 1000%. L’Oréal found that salespeople with a high EQ sold $2.5 MM more than others. And when Sheraton decided to incorporate an EQ initiative, their market share grew by 24%.
Collective EQ feeds and directly influences the Company’s Culture, which in turn impacts productivity, and in the end, transforms the bottom line one way or another.
So, how are you developing and refining your own EQ? As a leader, how are you nurturing your team’s, company’s, or community’s EQ?
This is actually helpful, thanks.