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Since the advent of ChatGPT last year, few things have dominated the public discussion in the tech and business world more than generative AI and chatting with robots. This comes as no surprise considering how genuinely revolutionary the technology is and radically fast the uptake has been within the public.
Comparing ChatGPT’s success to other major companies gives some indication of how monumental it has been. Within 5 days it had reached 5 million users – for Netflix, acquiring this customer base took 3.5 years.
However, ChatGPT is not even the tip of the iceberg when compared what else is out there and what else there is to come. There are over 11,000 AI apps built on language models like ChatGPT, which successfully achieve tasks all the way from planning logistics to creating artworks.
But beyond ChatGPT, AI is already serving us across many arenas of life, all the way from serving as a round-the-clock doctor to keeping online customers happy customers.
Columbia University economics professor Joseph Stiglitz once said, “It is trust, more than money, that makes the world go around.” While this has, perhaps, always been true, it will truer than ever in the coming decade.
Whether in our personal relationships or our interactions with big brands and institutions, trust is the foundation of loyalty, engagement and affinity - and this foundation has taken a pounding in recent years, especially during the COVID-19 pandemic.
In this environment, building trust is more difficult than ever – but it’s also more important. According to the recent Trends in Customer Trust report released by Salesforce Research, 95% of customers are more likely to be loyal to a company they trust while 92% are more likely to purchase additional products and services from trusted businesses.
Downturns and hard times are often perceived as a curse in business. When market share dwindles, sales dry up and nothing seems to be going your way, leaders often long for the former glory days of growth and prosperity. However, in the same way that nature has seasons, industries have cycles that serve an important purpose. The key to surviving, thriving and achieving enduring relevance in the long-term is to work with rather than war against seasons and cycles – especially the adverse ones.
We often think of the world of farming and agriculture as the antithesis of the technological hubs of places like Silicone Valley. Our urban Internet of Things feels worlds away from the earthier environments that keep our people fed and our societies functioning. It’s easy to forget that one of the industries where tech innovation is hitting the ground most effectively is agriculture.
Agricultural technology, or ‘agtech’, is moving just as quickly as the technology in other industries, and is significantly improving the efficiency, profitability and sustainability of farming. Significantly, agtech is boosting precision agriciulture which is based on precise monitoring and measurement of the environment and aims to maximise farm outputs. Particularly as concerns grow surrounding food wastage and the health of our environments, the sensors, drones and autonomous technology now being used on farms are providing solutions that are both effective and timely for farmers.
Robo-farmers aren’t afraid to get their hands dirty.
The annuls of history make it very clear that power has generally belonged to organizations – from religious institutions to government bureaucracies and corporate behemoths. There have certainly been various ‘Davids’ who have stood up to their respective Goliaths and managed to temporarily upset the status quo and gain an upper hand. But these cases were exceptional in every sense of the word – most of the time, the individual lacked the power.
Today, the opposite is true. Recent years have seen the balance of power shift rapidly away from organizations and to the individual. There are 3 tools of empowerment that cannot be underestimated by leaders and organizations aiming to build trust in the years ahead.
The tides are changing in the world of recruitment, as the impact of AI and the post-pandemic workplace shifts continue to proliferate. The process of attracting workers, advertising jobs and adjusting workplaces is becoming increasingly complex as these forces change the way we have grown used to doing business. Here’s what you need to know.
Generative AI & The Job Hunt
As with every industry at the moment, recruitment is facing major disruption at the hands of AI. While some recruiters may lose jobs lost to the technology, most will find that their work is made much more efficient, precise and free of bias. The simplest way it will improve efficiency is by automating the repetitive tasks that recruiters must engage in, such as direct messaging potential workers, crafting job outlines and personalising the responses to applicants.
While the world of travel has been the industry perhaps most disrupted in the last couple of years, it is set for more disruption in the years to come – but in some of the most striking and novel ways. With the capabilities of technology invading every facet of travel all the way from the transit to the destinations themselves, we are set to see our travel plans change more dramatically than we may think in the coming years.
The most futuristic of the changes set to take over our travel plans comes with our flight paths and planes. The advent of air taxis is upon us, and while they may take a while to overtake our current commercial travel conventions, they may be the new normal sooner than we think.
Every sacred cow was once an innovation. One day someone discovers a new technique that offers greater efficiency, it is implemented, considered best practice and its use is mandated and monitored across the organisation. It is then taught in in induction and training programs, but without the new staff being taught why it was originally developed. Before long, what was once an innovative idea is a stale habit and any efforts to challenge or change it are met with active resistance. The innovation has become a sacred cow.
In an economy often characterised by overconsumption, waste and fast fashion, the push for sustainability is not always popular. Particularly with some companies building their business models around planned obsolescence, the idea of developing durable, reusable and recyclable products – an ethos which we often associate with generations of the past – can seem to war against the interests of profits.
We often hear about echo chambers and groupthink in regards to the online world, our political leanings and our social groups. However, one of the areas most prone to the effects of groupthink is the corporate world.
One of the great challenges in any established industry is that players in a sector begin to look, think and operate in a very similar way — a phenomenon often referred to as strategy convergence. The reasons for this are quite simple. Companies tend to engage the same consulting firms to work with them, hire talent form the same pools of graduates, subscribe to the same news and attend the same conferences.