Now showing items tagged Change

The best way I’ve heard the role of AI in today's corporate world describes is as a multivitamin or a painkiller. As a multivitamin, it can supercharge your activities, working alongside employees to ensure that outcomes are achieved to a greater level of quality, efficiency and productivity. As a painkiller, it takes over all the tasks that are common headaches for workers, freeing them up to focus their attention on more valuable and gratifying work.

In the banking and finance sector, AI is set to enable significant productivity gains for those that integrate it. Providing automated reporting, improving risk transparency, automatically updating policies and procedures and performing compliance and risk audits are among the ways generative AI will be capable of improving efficiency. Beyond this, algorithms can analyse vast amounts of financial data to identify patterns and trends, enabling more accurate predictions and informed decision-making.[1]

There are few things more frustrating than an opponent who won’t budge. We’ve all experienced those conversations with a voter on the other side of politics or a friend who is endlessly stubborn, in which any amount of evidence is insufficient in moving their position. Our natural impulse is to do just this: begin big in our persuasive efforts, believing that a barrage of information and evidence will knock someone from their position instantly. But, contrary to our aim the result of this approach is usually the other’s deeper entrenchment in their beliefs and a defensiveness that inhibits any further dialogue.

With the dramatic changes that have occurred across the globe in recent months in the midst of our modern crisis, many of our standing systems have had to rework their regular ways of doing business. As many of these adaptations are working quite well for the people and institutions that have embraced them, it is likely that our new ‘business as usual’ will look drastically different from what it did before.

The need for industries and brands to stay relevant to the next generation has always been important, but today it matters more than ever. Younger generations can either represent a breathtakingly large opportunity or one of the most significant disruptions any brand or industry is likely to face, and not just as consumers. Engaging the next generation in the workforce is just as vital, and it only takes one look at today’s job scene to see the impact Millennials are making on it.

“The electric light did not come from the continuous improvement of candles.”

I love the pertinence of this statement of Oren Harari for our culture. As a former business professor at the University of San Francisco, he is sure to know a thing or two about the trends and changes in the business world over the last few decades, and with this one, I believe he is exactly right.

“Only those committed to the risk and promise of uncharted waters will thrive.”[1]

Image Credit: https://www.rockfordconcreteworks.com/

The unprecedented success of the iPhone is a globally recognised fact. It is known to have broken profitability records, dominated its competition and overwhelmed the market. It is likely that you are reading this article through the screen of an iPhone, and it is equally as likely that if you glance around you will see several more similar to yours in the hands of commuters or crowds or co-workers.