Presented by Xero

Can AI help build emotionally intelligent businesses?

 ·7 Feb 2024

It might seem counterintuitive to talk about artificial intelligence helping humans build better Emotional Intelligence (EQ).

There’s been much debate around the risks of AI, and whether it will replace human intelligence.

However, AI has proven to be successful in certain tasks like analysing large amounts of information, identifying patterns, and suggesting solutions.

Many businesses are harnessing AI to reduce manual admin and become more efficient.

Mygrow, an EQ development platform, is going a step further – using AI to improve human contribution at work, rather than replace it.

The organisation helps companies to develop, measure and track the EQ in their people.

Based on neuroscience and positive psychology, the technology provides all the tools that a business needs to develop EQ in employees, psychologically reconfiguring teams for optimal performance.

EQ is a set of emotional skills that makes people great at managing themselves and interacting effectively with others. Mygrow is showing that developing EQ at scale leads to significant culture shifts in teams and organisations.

“We’re on a mission to build an Emotionally Intelligent world,” says Theran Knighton-Fitt, co-founder of Mygrow.

“We do this by transforming teams from the inside out. By driving personal and collective growth, our technology helps to develop the emotional skills that make life, relationships, and work easier to navigate in healthy ways.”

Unlocking the next step for the business

Mygrow was a South African winner in the 2023 Xero Beautiful Business Fund, taking out the ‘trailblazing with technology’ category, where they received R250,000 in funding to help them take their business to the next level with AI.

Thanks to ongoing developments in AI, Mygrow is enhancing its product offering to further develop, measure, and track the EQ competencies in individuals and teams – to strengthen human contribution in the workforce.

“Our accountants, Iridium Business Solutions, introduced us to Xero and we haven’t looked back! Not only has the software been helpful, but we resonate with the culture and vision of Xero.”

“We appreciate the heart they have for new ventures and for empowering entrepreneurs to succeed.”

“We’ll be using the funding from Xero to support our ambitions to get the product up to speed with the benefits of AI.”

“As the dust settles around the use cases of AI, its real value and strength is beginning to emerge. We believe we can put those strengths to good use to help us all become more human.”

“We’re focusing our attention on automation and AI integration to better support the growth journeys of our clients and end users.”

“With this improvement in the product, we will be able to better serve those who benefit from our process, to develop their Emotional Intelligence, and reap all the rewards that come as a result.” says Knighton-Fitt.

This article is part of Xero’s series celebrating the self-made stories of small business owners in South Africa and offering advice for those looking to grow their business.

To read more stories like this, visit Xero’s website.

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