This article was originally published by MonitorDaily in October 2024.
Reprinted with permission from the author.

 

You’ve heard the buzz. You know that artificial intelligence (AI) is reshaping industries — ours included. Whether you’re attending conferences, reading reports or discussing strategies with your team, AI is always at the forefront. As a leader in the equipment finance industry, you’re likely grappling with two major challenges:

  • How do I successfully introduce AI without losing the human touch?
  • How can I ensure my team embraces these new technologies rather than fears them?

These are challenges I hear repeatedly from leaders like you. The pressure is immense. Digital transformation isn’t just about adopting new tools — it’s about fundamentally changing how you work, all while ensuring that your people stay motivated, engaged and equipped for the future.

I recently sat down with Jen Croneberger, founder of the Human Leadership Institute and a renowned performance psychology expert, to talk about these exact issues. We explored how leaders like you can balance AI adoption with human-centric leadership strategies. Through the discussion, one thing became clear: successful AI adoption in the equipment finance industry is less about the technology itself and more about how you bring your people along for the ride.

Let’s dive into the insights from our conversation that can help you lead your team through AI-driven change while empowering them to thrive.

SIMPLIFYING AI: IT’S NOT WHAT YOU THINK

AI is a term that can feel daunting and abstract, so let’s simplify it. AI is simply a set of computer programs designed to mimic human cognitive abilities and automate tasks. It’s not a one-size-fits-all solution or a magical tool that solves everything. Instead, AI is a broad and flexible intelligent automation toolkit that you can apply across your business to boost efficiency, accuracy and innovation. It’s about enabling people to do more meaningful work by taking over the repetitive tasks that drain their time and energy.

AI can automate narrow productivity tasks like email scheduling, transcribing interviews and even designing a company logo. Today, AI is a daily collaborative partner. With all AI can do, though, there’s one key element: it doesn’t take over. Leaders are using it to streamline low-value tasks, giving teams more time and energy to focus on innovation and strategy.

Leaders, it’s your job to reframe AI for your team. Help them see AI not as a threat but as a tool that allows them to do more of the work they find fulfilling. AI isn’t replacing them — it’s unlocking their potential.

TRUST IS THE FOUNDATION OF AI ADOPTION

During our conversation, Croneberger shared an important insight: the number one obstacle to AI adoption is fear. People fear what they don’t understand, and if AI is positioned as something that will fundamentally change their roles without any transparency, that fear will only grow.

Croneberger emphasized the importance of trust and psychological safety in overcoming this fear. If your team doesn’t feel safe — if they don’t trust that they can experiment with AI without risking failure — they won’t engage with the technology. Without engagement, AI adoption is doomed to fail.

So how do you build this trust? Involve your team from the very beginning. Be transparent about why you’re introducing AI and how it will benefit both the business and their daily work. Most importantly, invite their input. People support what they help create. When your team feels involved in the decision-making process, they’re far more likely to embrace the changes.

As Croneberger explained, people are far more motivated to embrace AI when they feel included in the process. Inclusion inspires intrinsic motivation because it taps into a basic human need — to feel seen, heard and valued. When individuals feel that their ideas and input matter, they are naturally more invested in the success of the change. It’s not about AI being forced upon them; it’s about creating a shared vision where everyone feels a sense of ownership and purpose in shaping the future. That’s when adoption really takes off — when it’s driven by genuine buy-in, not just top-down directives.

LEAD WITH EMOTIONAL INTELLIGENCE

One often overlooked element in AI adoption is the importance of emotional intelligence (EQ). As Croneberger pointed out, in a world where technology is accelerating at breakneck speed, it’s easy to get caught up in the technical details and forget the human side. Emotional intelligence is critical for leaders as they guide their teams through this transition. You need to be attuned to the concerns, fears and motivations of your team.

AI adoption is not just about introducing new tools — it’s about leading people through change. Empathy, listening and clear communication will play just as significant a role in your success in choosing the right AI technologies. When leaders show they understand the emotional and psychological impact of AI, they build trust, create buy-in and foster an environment where innovation can thrive.

A HUMAN-CENTRIC MINDSET

One of the biggest mistakes I see in digital transformation efforts is focusing solely on the technology. Yes, AI is powerful, but if you push it without addressing the human side of change, you’re setting your team up for resistance.

Leaders who succeed with AI focus on empathy and inclusion. Croneberger says people need to feel seen and heard during times of change. If your team feels like automation is being forced on them, they will push back. However, if they feel included in shaping the automation strategy, they are far more likely to support it.

This is why inclusion is critical. At TomorrowZone, we always emphasize the importance of starting with a clear vision: Why are we adopting AI? What problem are we solving? How will this improve the work experience for our team and deliver better outcomes for our customers? Once we have alignment on the “why,” the roadmap becomes clear. Shared understanding and clarity make the “how” much easier to execute.

Your team must feel like they are part of the process, not just passive recipients of change. By involving them in the early stages of AI adoption, you will build the trust and buy-in necessary for a smooth transition. As Croneberger said, “People support what they help create.” Give your team the space to ask questions, experiment and even make mistakes. It’s in this safe environment that innovation truly thrives.

THE FUTURE OF AI IN EQUIPMENT FINANCE

As AI continues to evolve, leaders who will thrive are those who understand one fundamental truth: the future of AI is human-centric. AI can’t replace the human connection that drives our industry, but it can enhance it.

The leaders who succeed will foster a culture of curiosity, continuous learning and experimentation. I believe in the mantra “think big, start small and learn forward fast.” Not every AI experiment will work, but the ones that do can transform your business in ways you never imagined.

When your team feels empowered to learn and explore AI’s potential, you’ll not only drive innovation — you’ll build a stronger, more resilient team.

READY TO UNLOCK AI’S POTENTIAL?

So, what can you do today to start your AI journey? Get educated about AI. Create a safe space for experimentation. Start small with one or two low-risk AI projects and give your team the freedom to learn and iterate. AI isn’t the future — it’s now. The leaders who act today will be the ones who lead our industry into tomorrow.

Jen Croneberger is the founder of the Human Leadership Institute. A four-time TEDx speaker, compassionate leadership expert and culture change consultant, her clients have included Nike, Procter & Gamble, Lockheed Martin and the U.S. Department of Defense. Croneberger holds certifications from Harvard Business School, Cornell and Yale and is a member of the Forbes Coaches Council. Learn more at thehli.com.

Deborah Reuben, CLFP is CEO and founder of TomorrowZone, an award-winning innovation consulting firm bringing forward-thinking insights and original ideas to help companies explore the art of the possible and design roadmaps for the future. She holds many industry leadership positions and authored The Certified Lease & Finance Professionals’ Handbook 6th-10th editions. Learn more at tomorrowzone.io.