Algorithms for some time is growing in importance. From the search engine algorithms to the chatbots of social media pages, suddenly algorithms are playing big roles in managing the web presence of businesses and they are redefining the workplace roles played by the managers. Let us now ask a point blank question. In the span of next 5 years or so, how technology can change the management practice? With the web-based algorithms, the AI based management of tasks has progressed too far.
Just take the ways algorithms rule in world’s biggest tech companies like Google, Facebook, Amazon, etc. or in various upcoming tech companies. In today’s world, most workers produce software and apps instead of physical goods. This data-centric and insight based productions now make up the most of the business deliverables across the industries. When you look at the business organizations in today’s reality, you inadvertently understand that the works of the majority of these companies are actually delivered by algorithms and software programs. In a modern context, these programs are considered as the workers and the human mind that are developing them are actually their managers.
When these programs are measured by their performance that is synonymous to measuring the performance of the workers. And the developers or the managers of these programs tweak them further to ensure better performance and business specific output. The major difference between the human workforce and this workforce algorithm is that while the previous one has constraints of hierarchies in management the later ones are more inclusive and free of hierarchies.
How the evolving role of technologies is changing the management can be expressed in the following ways.
Design Thinkers In Leadership Roles
A 20th-century developer is thoroughly engaged in product design and iterations to ensure user-focused development. Technology in this context is no longer just a back-office function but it is the crucial element playing a bigger and enhanced role in the organizational management. That is why we often see the product designers in the role of the CEO who besides workforce are always keen on addressing the algorithms and digital apps as well.
Cost Advantage By Replacing Workforce
In most of the 20th-century organizations, creating more budgetary room through minimum investment in the human workforce is a crucial criterion. Naturally many processes including the sales and marketing are grabbing more help from the automated backup software programs or algorithms to allow the smooth process in a cost effective manner.
More Focused Approach On Customer Satisfaction
In today’s scenario, managers in IT companies delivering solutions for enterprises must groom themselves as product and UX designers having deeper exposure and engagement to typical needs and preferences. As sophisticated algorithms or software programs can perform such tasks with more ease and with least performance issues, businesses are increasingly depending on them to ensure optimum customer satisfaction.
At present most businesses and companies are just experiencing the first overhaul of their business processes in the hands of algorithms or web-based robots. While this is new and unprecedented compared to the dominant human workforce in the majority of the companies, the new machine learning technology, and artificial intelligence is increasingly making software programs more equipped to deal with diverse situations and business-specific challenges.