The AI Times Monthly Newspaper
Curated Monthly News about Artificial Intelligence and Machine LearningUPSCALE, AI to speed up the electric car production
The artificial intelligence (AI) is changing the functioning of the automotive industry. Autonomous vehicles might be the first thing coming to mind when thinking of an example on the impact of AI in the car industry, but it is not the only one. AI not only can improve vehicle performance but it also enhances their design process. This is precisely the aim of the UPSCALE project, applying Machine Learning techniques to Computer Aided Engineering (CAE) methods.
Historically, CAE tools have been an invaluable mean for product development in many industry sectors, in particular, in the automotive sector. Despite its notable contribution over all these years, there have been no major changes or significant improvements in their application. To break this pattern, the UPSCALE’s consortium aims at creating and applying machine learning-driven simulation workflows. This would reduce development time through speeding up simulation time by orders of magnitude in crash and Computational Fluid Dynamics (CFD) simulations. AI-CAE integration would lead to securing simulation results faster, cheaper and more accurately. Moreover, the objective of UPSCALE would also be, for CAE processes, to become fully automated and adapted as a software solution for the automotive industry.
Challenges of the project
Taking into account the large number of existing vehicles with different characteristics, one of the main challenges, for the project to succeed, is being able to feed and train AI algorithms with enough information to function. This is particularly challenging because until now AI and machine learning have been used to solve proof of concept simulation models, UPSCALE face the challenge of demonstrating that AI can also deal with real industrial simulation models, such as full-size vehicle aerodynamics or crash.
Big challenges require big responses and big solutions that is why UPSCALE consortium has already begun to work. From November 2018 until April 2022, thanks to funding obtained from Horizon 2020, the European Research and Innovation programme, a team composed of universities, research laboratories, European automotive OEMs, software companies and an AI-SME, specialized in machine learning, will be working to achieve the above-mentioned goal and make the European automotive industry more competitive. Will they succeed?
Read more on the project and follow the progress achieved through the UPSCALE’s website and newsletter.
AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available Now
All,
GET YOUR EARLY BIRD TICKET TODAY
Now in its fourth year, the AI & Robotics and CX Tech Conference is going to be the biggest and best value AI Conference with six parallel streams to select from, the agenda is going to be action packed with a wide selection of topics.
We are proud to announce our annual AI & Robotics and CX Tech Conference is on Thursday 31st October. This will be the biggest Conference we have ever run, with six parallel streams including talks, discussion panels, case studies and workshops and spotlights,together with an Expo Showcase of some of the best companies in the field of AI & CX.
We have a very limited supply of Early Bird tickets available for the Day Pass Conference and Expo with a saving of £100on the standard delegate Day Pass. The Early Bird tickets are only available until August 17thso don’t hang around and miss the chance to save. Our AI Conference is the best value event in London, with normal conference tickets starting from £495, our standard pass is only £399.
The conference venue is near St Pauls in central London, etc Venues, 200 Aldersgate London EC1A 4HD
The Conference will have the following streams and topics included;
- AI Technical
- CX Tech Customer Experience & Business Applications
- AI People & Process
- AI Challenges
- Ethics and Governance
- Deep Learning
- Tools & Frameworks
- Hands on Workshops
- AI Startup Spotlight
- Sponsor Showcase
- and much more …
We will even have an onsite bookshop to get all the latest AI related books.
With company representation across a wide range of firms;
- SAP
- Creative Virtual
- IMC
- IBM
- PWC
- BT
- Informed AI
- Winning Minds
- Edinburgh University
- Oxford Brookes University
- UCL University
- Withers & Rogers
GET YOUR EARLY BIRD TICKET TODAY– https://air.events/#tickets Save £100. The ticket price includes coffee breaks and lunch.
AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available NowPlease note that Early Bird Tickets are NOTavailable for the Day + Awards Pass which includes the evening AI Awards dinner and ceremony, If you want to also attend the Awards Dinner & Ceremony you will need to purchase the Delegate (Day + Awards Pass)
The post AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available Now appeared first on NEURONS.AI.
Link to Full Article: Read Here
AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available Now
All,
GET YOUR EARLY BIRD TICKET TODAY
Now in its fourth year, the AI & Robotics and CX Tech Conference is going to be the biggest and best value AI Conference with six parallel streams to select from, the agenda is going to be action packed with a wide selection of topics.
We are proud to announce our annual AI & Robotics and CX Tech Conference is on Thursday 31st October. This will be the biggest Conference we have ever run, with six parallel streams including talks, discussion panels, case studies and workshops and spotlights,together with an Expo Showcase of some of the best companies in the field of AI & CX.
We have a very limited supply of Early Bird tickets available for the Day Pass Conference and Expo with a saving of £100on the standard delegate Day Pass. The Early Bird tickets are only available until August 17thso don’t hang around and miss the chance to save. Our AI Conference is the best value event in London, with normal conference tickets starting from £495, our standard pass is only £399.
The conference venue is near St Pauls in central London, etc Venues, 200 Aldersgate London EC1A 4HD
The Conference will have the following streams and topics included;
- AI Technical
- CX Tech Customer Experience & Business Applications
- AI People & Process
- AI Challenges
- Ethics and Governance
- Deep Learning
- Tools & Frameworks
- Hands on Workshops
- AI Startup Spotlight
- Sponsor Showcase
- and much more …
We will even have an onsite bookshop to get all the latest AI related books.
With company representation across a wide range of firms;
- SAP
- Creative Virtual
- IMC
- IBM
- PWC
- BT
- Informed AI
- Winning Minds
- Edinburgh University
- Oxford Brookes University
- UCL University
- Withers & Rogers
GET YOUR EARLY BIRD TICKET TODAY– https://air.events/#tickets Save £100. The ticket price includes coffee breaks and lunch.
AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available NowPlease note that Early Bird Tickets are NOTavailable for the Day + Awards Pass which includes the evening AI Awards dinner and ceremony, If you want to also attend the Awards Dinner & Ceremony you will need to purchase the Delegate (Day + Awards Pass)
The post AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available Now appeared first on NEURONS.AI.
Link to Full Article: Read Here
AI & Robotics Conference & Expo – Thursday 31st October – Early Bird Tickets – Available Now
All,
GET YOUR EARLY BIRD TICKET TODAY
Now in its fourth year, the AI & Robotics and CX Tech Conference is going to be the biggest and best value AI Conference with six parallel streams to select from, the agenda is going to be action packed with a wide selection of topics.
We are proud to announce our annual AI & Robotics and CX Tech Conference is on Thursday 31st October. This will be the biggest Conference we have ever run, with six parallel streams including talks, discussion panels, case studies and workshops and spotlights,together with an Expo Showcase of some of the best companies in the field of AI & CX.
We have a very limited supply of Early Bird tickets available for the Day Pass Conference and Expo with a saving of £100on the standard delegate Day Pass. The Early Bird tickets are only available until August 17thso don’t hang around and miss the chance to save. Our AI Conference is the best value event in London, with normal conference tickets starting from £495, our standard pass is only £399.
The conference venue is near St Pauls in central London, etc Venues, 200 Aldersgate London EC1A 4HD
The Conference will have the following streams and topics included;
- AI Technical
- CX Tech Customer Experience & Business Applications
- AI People & Process
- AI Challenges
- Ethics and Governance
- Deep Learning
- Tools & Frameworks
- Hands on Workshops
- AI Startup Spotlight
- Sponsor Showcase
- and much more …
We will even have an onsite bookshop to get all the latest AI related books.
With company representation across a wide range of firms;
- SAP
- Creative Virtual
- IMC
- IBM
- PWC
- BT
- Informed AI
- Winning Minds
- Edinburgh University
- Oxford Brookes University
- UCL University
- Withers & Rogers
GET YOUR EARLY BIRD TICKET TODAY– https://air.events/#tickets Save £100. The ticket price includes coffee breaks and lunch.
Please note that Early Bird Tickets are NOTavailable for the Day + Awards Pass which includes the evening AI Awards dinner and ceremony, If you want to also attend the Awards Dinner & Ceremony you will need to purchase the Delegate (Day + Awards Pass)
Link to Full Article: Read Here
C-Suite Insurance Leaders Confirmed for Connected Insurance Canada Toronto in 2019
TORONTO, ON:Insurance Nexus’s Connected Insurance Canada Summit set for fifth visit to Toronto, taking place at the Toronto Marriott Downtown Eaton Centre Hotel, September 10-11, 2019
In step with global trends, Canadian consumers continue to demand more from insurance carriers, while opportunities for insurers to innovate abound. As Canadian insurers seek to respond to rising customer expectations through cutting-edge innovation, technology and the effective deployment of data insights, executives regularly cite difficulty in managing the transformation process, whilst simultaneously remaining economically viable and able to respond to customer needs. Providing two days of organization-wide strategy and real-world case studies, Connected Insurance Canada will return to Toronto for a fifth visit this September, welcoming over 350 senior attendees from across the insurance value chain, and more than 60 expert speakers, Insurance Nexus have just announced.
Featuring an agenda written by and for insurance carriers, Connected Insurance Canada is Canada’s largest insurance summit and the only conference to focus exclusively on new strategies for delivering organization-widetransformation. To reflect the need for holistic, all-encompassing strategies that eliminate siloed business departments, Connected Insurance Canada will unite the core pillars of the insurance management team, ensuring each is apprised of their roles in the larger context of insurance transformation. With three distinct tracks focusing on analytics, productand innovationand connected claims, attendees will walk away with the tools and strategic insights required to effect true change and become customer-centric, technology-driven organizations fit for the digital age.
Confirmed speakers include Senior Vice President Claims at EconomicalInsurance, Hans Reidl, Senior Vice President, Global Insurance at Scotiabank, Fernando Moreira and Vice President, Claims Excellence at WawanesaInsurance, Erin Fischer, as well as:
- Marcelo Regen, Vice President Brand Innovation & Chief Customer Officer, Allstate
- Eugene Wen, Vice President, Group Advanced Analytics, Manulife
- Scott Marnoch, Vice President Innovation, Great West Life
- Anna Foat, Director Digital Transformation Office, Sun Life
- Jonathan Spinner, Assistant Vice President Claims Transformation, Aviva
Attendees at Connected Insurance Canada will also become part of Canada’s largest insurance community, with over 350 C-level executives gathering to network, debate and learn from renowned industry experts.To give attendees more control over their own networking, Connected Insurance Canada will also be utilizing the innovative Brella app, that allows attendees to set their own meetings and create valuable business networks that can be leveraged in future.Connected Insurance Canada will also feature more interactivity than ever before; remote polling will gather the audience’s perspectives on pressing issues and attendees will be able to submit their own questions to our expert speakers using the Slido platform. With the agenda nearing completion and tickets now on sale, please find more information on the website: https://events.insurancenexus.com/canada/.
Contact:
Ira Sopic
Project Director
Insurance Nexus
T: + 44 (0) 207 422 4363
T: +1 800 814 3459 ext 4363
E: ira.sopic@insurancenexus.com
About Insurance Nexus
Situated between London’s Silicon Roundabout and the City, Insurance Nexus is at the innovative heart of an industry undergoing significant disruption and innovation. Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, the team provides the industry with a platform to network, discuss, learn and shape the future of the insurance industry.
Link to Full Article: Read Here
C-Suite Insurance Leaders Confirmed for Connected Insurance Canada Toronto in 2019
TORONTO, ON:Insurance Nexus’s Connected Insurance Canada Summit set for fifth visit to Toronto, taking place at the Toronto Marriott Downtown Eaton Centre Hotel, September 10-11, 2019
In step with global trends, Canadian consumers continue to demand more from insurance carriers, while opportunities for insurers to innovate abound. As Canadian insurers seek to respond to rising customer expectations through cutting-edge innovation, technology and the effective deployment of data insights, executives regularly cite difficulty in managing the transformation process, whilst simultaneously remaining economically viable and able to respond to customer needs. Providing two days of organization-wide strategy and real-world case studies, Connected Insurance Canada will return to Toronto for a fifth visit this September, welcoming over 350 senior attendees from across the insurance value chain, and more than 60 expert speakers, Insurance Nexus have just announced.
Featuring an agenda written by and for insurance carriers, Connected Insurance Canada is Canada’s largest insurance summit and the only conference to focus exclusively on new strategies for delivering organization-widetransformation. To reflect the need for holistic, all-encompassing strategies that eliminate siloed business departments, Connected Insurance Canada will unite the core pillars of the insurance management team, ensuring each is apprised of their roles in the larger context of insurance transformation. With three distinct tracks focusing on analytics, productand innovationand connected claims, attendees will walk away with the tools and strategic insights required to effect true change and become customer-centric, technology-driven organizations fit for the digital age.
Confirmed speakers include Senior Vice President Claims at EconomicalInsurance, Hans Reidl, Senior Vice President, Global Insurance at Scotiabank, Fernando Moreira and Vice President, Claims Excellence at WawanesaInsurance, Erin Fischer, as well as:
- Marcelo Regen, Vice President Brand Innovation & Chief Customer Officer, Allstate
- Eugene Wen, Vice President, Group Advanced Analytics, Manulife
- Scott Marnoch, Vice President Innovation, Great West Life
- Anna Foat, Director Digital Transformation Office, Sun Life
- Jonathan Spinner, Assistant Vice President Claims Transformation, Aviva
Attendees at Connected Insurance Canada will also become part of Canada’s largest insurance community, with over 350 C-level executives gathering to network, debate and learn from renowned industry experts.To give attendees more control over their own networking, Connected Insurance Canada will also be utilizing the innovative Brella app, that allows attendees to set their own meetings and create valuable business networks that can be leveraged in future.Connected Insurance Canada will also feature more interactivity than ever before; remote polling will gather the audience’s perspectives on pressing issues and attendees will be able to submit their own questions to our expert speakers using the Slido platform. With the agenda nearing completion and tickets now on sale, please find more information on the website: https://events.insurancenexus.com/canada/.
Contact:
Ira Sopic
Project Director
Insurance Nexus
T: + 44 (0) 207 422 4363
T: +1 800 814 3459 ext 4363
E: ira.sopic@insurancenexus.com
About Insurance Nexus
Situated between London’s Silicon Roundabout and the City, Insurance Nexus is at the innovative heart of an industry undergoing significant disruption and innovation. Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, the team provides the industry with a platform to network, discuss, learn and shape the future of the insurance industry.
Link to Full Article: Read Here
Driving Value from AI in Insurance: Delivering Success with Sun Life and Scotiabank
Much discussed, yet often misunderstood, it’s clear that Artificial Intelligence is set to dominate the global Insurance sector for the foreseeable future – and Canada is no different. Despite being a somewhat nascent discipline within insurance, progress in silicon centres across the nation mean carriers recognize the potential of AI to cut costs, improve the customer experience and generate sustainable long-term growth.
Although currently centred around Toronto and Montreal, new government and private sector initiatives are seeking to expand Canada’s AI capabilities from the ground up, but with specialist talent in short supply, a skills gap is likely to exist in the short-term. From tapping into the burgeoning community of start-ups and innovators to incubating their own AI specialists, carriers are finding there is no quick-fix or easy route to success. A clear vision for the future, and an acceptance that not all initiatives will succeed, are required.
Insurance Nexus spoke to two eminent, senior Canadian insurance executives, Inka Bari, AVP Analytics, Group Benefits, Sun Lifeand Fernando Moreira, SVP, Global Insurance, Scotiabank, to get their views on how Canada’s insurance market should approach AI integration and where it can expect to garner the best results.
Access the full whitepaper here
The first priority may seem obvious but is worth repeating: do not leap into a technical solution without knowing what problem you’re trying to solve. Admittedly, this sounds simple, but many carriers still struggle with this first aspect, often under competitive pressure to bring a new capability to market; “That’s the big question,” says Inka Bari, AVP Analytics, Group Benefits, Sun Life. “Are people doing it because they have a problem to solve, or because it’s cool and competitors are doing it?” she asks. Fernando Moreira, SVP, Global Insurance, Scotiabank, agrees with these sentiments: “Whether it’s for solving complex business problems or addressing growth opportunities, we need to understand what sort of proposition we should be offering our customers.”
Once a need and solution are identified, implementation is not necessarily straightforward, however. For large, legacy carriers, issues typically arise because internal organization/operations were simply not designed for the demands of modern technology and innovation, with “large organizations like Sun Life…as old as the country itself,” Bari notes. “There is so much legacy that has been adapted to behave in a way that wasn’t originally planned”
Once a need and solution are identified, implementation is not necessarily straightforward, however. For large, legacy carriers, issues typically arise because “there is so much legacy that has been adapted to behave in a way that wasn’t originally planned,” Bari notes. With “large organizations like Sun Life…[that] are as old as the country itself,” internal operations were simply not designed for the demands of modern technology and innovation, and so ensuring these processes are fit to support a sophisticated AI and analytics infrastructure is imperative.
Access the full whitepaper here
Increased customer-centricity means new propositions must make a difference to customers – competitive pressure and the availability of on-demand, personalized insurance elsewhere means customers will simply go elsewhere if not. But, as competition is high, loyalty is not. “Insurers who want to increase market share, as well as attract and retain customers, need to shift focus and improve in areas that most influence customer satisfaction,” said Tom Super, Director of the Insurance Practice at J.D. Power. “Highly satisfied customers have better policy lifetime expectancy (PLE) scores and are much more likely to recommend their insurer to friends or family.”
Whereas previously, customer-focused initiatives may have focused on lower call-centre waiting times or better online self-service (both valuable components of any customer experience), advances in technology and the capabilities of competitors mean carriers increasingly need to show they are proactive in keeping their customers safe. While it works to lower claim sizes for the carrier, the competitive marketplace also means customers want more for their insurance premium than help in a claim – an aspect of the market that is driving the insurer/customer relationship towards prevention of loss, rather than reaction and restitution.
The perfect proposition is meaningless, however, without the technical knowledge required to put it onto effect. Element AInoted in its 2018 talent report that there were only 20,000 AI experts on the planet and even if they all turned up in Canada, they would need to use all of them, plus every student graduating in an AI discipline from University. “AI is not built by technology; it’s built by people who know how to find the right technology. It’s not cheap. You have to invest to pay for the right people. They are very in demand,” Moreira admits.
Access the full whitepaper here
To address the shortfall, a number of large organizations have been looking for ways to incubate their own AI specialists; Manulife’s four-year, $400,000 CAD partnership with the Waterloo Artificial Intelligence Institute at the University of Waterloo, focusing on research into disability claim prediction and fraud prevention, for example. Intact Financial is taking a similar route, announcing a partnership with Université Laval in January 20197 that will see the company sponsor two research chairs focusing on AI and actuarial science.
Despite these efforts, there are many potential pitfalls; AI is a data-hungry discipline and without proper checks and balances in place, a breach could deal a fatal blow to consumer trust – vital above all else in the insurance industry. Equally, there are many opportunities to choose from, but a focus on customer need and business prerogative is essential, as is a fail-fast, experimental attitude towards innovation. AI is never going to be a quick fix. As a technology, it has the potential to reinvent insurance as we currently understand it; products can become more relevant to the individual, the claims process can be condensed from weeks to a matter of seconds in some cases, while some risks can even be avoided altogether. But it is also an insurance event horizon. Customer expectation has been set, potential has been revealed and carriers who fail to adapt must inevitably find themselves obsolete.
This whitepaper, Driving Value from AI in Insurance: Where Machines are Impacting Experience, Efficiency and Profitability, was created in conjunction with Insurance Nexus’ upcoming Connected Insurance Canada Summit, taking place September 10-11, 2019 at the Toronto Marriott Downtown Eaton Centre Hotel, Toronto, Canada. Expecting over 350 attendees from across analytics, product innovation and claims departments, the event will explore the core challenges facing the Canadian Insurance market, including how to harness AI, automation, product development and seamless claims delivering both an enhanced customer experience and a more efficient carrier. For more information, please visit the website: https://events.insurancenexus.com/canada/.
Link to Full Article: Read Here
Wednesday 17th July – AI Transforming Retail & Customer Data
We would like to invite you to attend the one day interactive Directors’ Forum event which provides insights and expert advice from world leading experts and practitioners on how to embrace the new age of Artificial Intelligence & Automation focused on the impact to the Retail industry and the use of Customer Data. The Directors’ Forum events are hosted at Gallup’s conference centre in The Shard, London.
On Wednesday 17th July we will have a focus on AI Transforming Retail & Customer Data
The event is a combination of expert speakers, panel sessions on relevant topics with delegate participation and case studies, together with plenty of opportunities for networking and discussions during our lunch and coffee breaks. We will also have partner companies providing demos and information for delegates during the breakout sessions.
The forum is a great opportunity to learn about both the current state of adoption of AI in the industry but also to hear the latest thinking about future opportunities for applications that will improve the customer experience and company effectiveness.
Get your Ticket Now – http://air.events/directorsforums/july2019/#tickets
With a range of speakers, panel events and case study, including;
- Mary Wallace, Retail, Place & Consumer Behaviour SME – IBM iX
- Karl Barnfather, Patent Attorney & Chairman at Withers & Rogers
- Julian Burnett, VP, Global Markets – Distribution Sector (UK) at IBM
- Marc Janoff, Managing Consultant Gallup
- and others
Wednesday 17th July – AI Transforming Retail & Customer Data
We would like to invite you to attend the one day interactive Directors’ Forum event which provides insights and expert advice from world leading experts and practitioners on how to embrace the new age of Artificial Intelligence & Automation focused on the impact to the Retail industry and the use of Customer Data. The Directors’ Forum events are hosted at Gallup’s conference centre in The Shard, London.
On Wednesday 17th July we will have a focus on AI Transforming Retail & Customer Data
The event is a combination of expert speakers, panel sessions on relevant topics with delegate participation and case studies, together with plenty of opportunities for networking and discussions during our lunch and coffee breaks. We will also have partner companies providing demos and information for delegates during the breakout sessions.
The forum is a great opportunity to learn about both the current state of adoption of AI in the industry but also to hear the latest thinking about future opportunities for applications that will improve the customer experience and company effectiveness.
Get your Ticket Now – http://air.events/directorsforums/july2019/#tickets
With a range of speakers, panel events and case study, including;
- Mary Wallace, Retail, Place & Consumer Behaviour SME – IBM iX
- Karl Barnfather, Patent Attorney & Chairman at Withers & Rogers
- Julian Burnett, VP, Global Markets – Distribution Sector (UK) at IBM
- Marc Janoff, Managing Consultant Gallup
- and others
Link to Full Article: Read Here
Summary of Our New Market Report: The State of Latin America Shared Services in 2019
The SSO Landscape in Latin America
Every year, SSON’s global market survey highlights significant progression in Shared Services models. The past few years have shown a clear trend away from transactional, human-based work towards knowledge-driven activity enabled by data and automation. Yet, and despite the anxiety unleashed by “automation”, this has not translated to obvious job losses. Instead, Latin American shared services organizations (SSOs) are developing new competencies and taking on growth without adding headcount, frequently by leveraging new Centers of Excellence and expanding into new services and geographies.
The top Latin American locations for shared services include Brazil, Mexico, Costa Rica, and Colombia.
Latin American shared services can be characterized by two trends: first, the shared services landscape in the region is maturing; nearly one in three SSOs is 10 years old or more. Second, more than half of SSOs only serve regional customers. What this means is that for the mature segment, the low hanging fruit that drove the model originally (i.e., time and cost) has been well and truly harvested. Today, these shared services are leveraging the process expertise and knowledge they have developed (and combined) with innovative automation and new data analytics capabilities – re-positioning themselves as the brains of the enterprise.
The top functional services for 2019 are very similar to those found in last year’s report (State of Latin American Shared Services Centers in 2018), with the majority of service falling under HR and F&A. The majority of SSOs in Latin America, or 66%, use a multi-functional operating model.
The majority of SSOs also are leveraging Centers of Excellence and over the past year, CoEs have risen in demand and use. Last year, respondents cited new services being added in the areas of Change Management, Data Management, Automation, and Process Improvement. This year, we see these types of services being solidified in CoEs and in roughly two-thirds of global SSOs.
This emphasis on CoEs marks a critical milestone. It recognizes shared services’ future value proposition in terms of the added value delivered beyond process excellence. In other words, shared services is no longer mainly about transactional proficiency and improvement. The insights a modern SSO can offer the business, such as a thorough understanding of services processing, automation, and data analytics, will set it apart from the rest.
Nearly half of Latin American SSOs are planning to expand the scope of their operations this year by offering new services. Around 40% of Latin American SSOs are also planning to scale down their footprint while they broaden their operations as automation becomes more prevalent. This shift is driven by increased automation. But as shared services become more proficient at supporting global businesses, the fact is that many of these services can be provided digitally, and even virtually, via cloud-based services.
Traditionally, the benefits of shared services have been measured primarily in terms of reducing costs and time. This is still valid. However, given the maturity of this sector, these objectives have generally already been met. As a result, the attention is shifting to the benefits of improved process control, process standardization, and process optimization. The consequential effects are measured in terms of reduced risk, better compliance, quality and reliability. Automation, again, features heavily in driving improved controls via rules-based processing. Similarly, automation supports agility – the ability to ramp up or down quickly – enabling shared services to show significant flexibility in reacting to changes in underlying business requirements – for example, in the case of business expansion or contraction. These benefits are also supporting fairly aggressive improvement targets: more than a quarter of Latin American shared services are targeting productivity improvements of more than 10% in the next year, and nearly a third are targeting the 5% range.
Automation
Latin American SSOs are split fairly evenly in regards to how they are using intelligent automation. 26% are testing pilots, while another 26% do not plan on implementing intelligent automation (right now). More than half of the shared services that have implemented automation are scaling it. Leveraging and scaling automation as a competency requires a well thought out strategy, however. First, it’s important to get the right internal co-collaborators on board, that is primarily IT and Audit; and second, you will need to take steps to avoid running into a “bot wall”. There are numerous hurdles that need to be planned for, in order to avoid derailment.
While we are still in the early days of automation, IA tool providers are driving the industry further and shared services leaders do not want to miss out on the next great invention. A majority are already planning on integrating chatbots, cognitive solutions, machine learning, artificial intelligence, and blockchain. AI is grabbing many of the headlines. Last year, we asked whether AI was on shared services leaders’ agendas. Although actual implementations were low, more than 60% of respondents indicated they were considering it. This year, these plans are solidifying. Of those intending to integrate additional intelligent automation solutions, more than half are committed to incorporating AI and machine learning in their operations.
The interest in globalized services continues, as 17% of respondents have confirmed full GBS implementation and 15% have partial GBS. A significant segment is also committed to pursuing it in the next three to five years. This interest in the global model is driven predominantly by the urgent need to leverage automation across an increasingly broader scale. The global process ownership conferred by GBS, and the extent of standardization the model implies, are both key factors that determine the ability to roll out automation. In addition, (and this is significant) the ownership of global processes reduces the resistance that automation teams frequently encounter in attempting to scale.
The value-add of knowledge work is what many SSOs are chasing this year and is based not just on doing work, but completing it (in the same amount of time) with a better understanding. A large segment believes itself to be successful in developing road-maps and setting targets. Data analytics and business insights provide the opportunity for SSOs to offer more in regards to consultative and advisory support. These advanced services are often referred to as “knowledge” services, meaning they require understanding, insights and expertise on top of real-time data to deliver value.
Talent
The largest talent challenge for Latin American SSOs has to do with hiring and maintaining talent that possess an innovative mindset and have the ability to think outside the box. Thinking outside the box relates directly to the biggest skills deficits: data analytics, automation, and innovative thinking. Overcoming these deficits will depend on the ability of employees to understand the nature of the work being done in order to come up with innovative solutions and insights.
Supporting management in transitioning to managing a digital workforce, alongside a human workforce, presents significant challenges to HR leaders – predominantly in identifying, recruiting and fostering the mindset and skill set required to move forward. One of the difficulties is supporting management in transitioning to a hybrid workforce. This is causing a lot of anxiety, which organizations are countering mostly through change management and training.
Join us at the 13th Annual Shared Services & Outsourcing Week Latin America!
Whether you are a domestic Latin American company assessing your shared services capability, or focusing on optimizing your existing shared services, or a Global Multinational corporation looking to establish a service footprint in Latin America, this cross industry, cross function event will help you unlock your service potential! View the 2019 event guide to learn more. To view the 2019 event guide in Spanish, click here.
Link to Full Article: Read Here
Improve Your Organization’s Customer Experience in Three Easy Steps
Words of Wisdom From Our Speaker Faculty
Since the late 80’s, the Shared Services Practice (SSP) in play have been recognized as an important strategy for cost base reduction, improving control, enhancing service levels, etc.
I believe SSP is a wholesome strategy to bring organizational change, an efficient work culture, continuous delivery and overall improvements.
Improve Your Organization’s Customer Experience By Utilizing the Three “O’s”(throughout the transition phase of your implementation):
- Orchestration – This is the strategy phase, where you size the consolidations and plan the execution. You will undergo a feasibility study on whether the SSP strategy will bring in value and benefit (or if it will be a fad).
- Outsource – By this I mean the execution. This practice should consider the operating unit as “customers” in providing capabilities and synergies.
- Optimization – This is where you continuously measure and control the transformation. The ultimate goal is increased efficiency and effectiveness in operations management.
To learn more about Mr. Rajagopal’s involvement at the upcoming summit, please click here.
Link to Full Article: Read Here
Last Few Days – Thursday 27th June – AI & CX Transforming Financial Services
Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.
On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services
Full Programme is now available with a great line up of speakers, panel sessions, case study and a few companies showcasing their technologies.
There will also be plenty of opportunities to network too during the breaks and lunch.
Get your ticket today … limited availability
I look forward to seeing next week
Prof Andy Pardoe
Link to Full Article: Read Here
Delegate + 1 Tickets – Save £100
There’s just 2 weeks to go until we will be hosting our next event at The Shard London where we will be looking at how Artificial Intelligence and Customer Experience is Transforming the Financial Services industry. This is the first in a series of Directors’ Forums events we are hosting in 2019 together with our Annual Conference. There are still places left for this event on Thursday 27th June, see below for more information and how you can book your place.
Join us and bring a colleague
We have a great agenda some great speakers (see below)
Only three tickets left so get one soon
https://www.eventbrite.co.uk/e/ai-transforming-financial-services-tickets-60698871960?aff=twitter
Taking Your CX into the Future with Conversational AI by Chris Ezekiel, Founder & CEO at Creative Virtual
The Evolution of Financial Services in the Face of Artificial Intelligence by Dr Djamila Amimer, Founder and CEO at Mind Senses Global
Realising value from AI in business processes by Tom Castle, Head of Artificial Intelligence Practice & Development – Commercial and Private, Natwest
Effective Strategies for Implementing AI in your organisation and the Power of Analytics by Mignon Mapplebeck, IT Director and CIO Advisor
Cracking the code: Turning AI into ROI by Abhijit Akerkar, Head of Applied Sciences, Business Integration at Lloyds Banking Group
Link to Full Article: Read Here
Thursday 27th June – AI & CX Transforming Financial Services
Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.
On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services
Get your Ticket Now – http://air.events/directorsforums/june2019/#tickets
With a range of speakers, panel events and case study, including;
- Chris Ezekiel, CEO of Creative Virtual
- Abhijit Akerkar, AI Strategist & Business Integrator at Lloyds Banking Group
- Tom Castle, Head of Artificial Intelligence Practice and Development at Natwest
- Mark Cliffe, Chief Economist at ING
- Saurabh Moody Voiceman, CEO of Alphaa AI
- Dr Djamila Amimer, CEO Mind Senses Global
- and many more
Link to Full Article: Read Here
Thursday 27th June – AI & CX Transforming Financial Services
Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.
On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services
Get your Ticket Now – http://air.events/directorsforums/june2019/#tickets
With a range of speakers, panel events and case study, including;
- Chris Ezekiel, CEO of Creative Virtual
- Abhijit Akerkar, AI Strategist & Business Integrator at Lloyds Banking Group
- Tom Castle, Head of Artificial Intelligence Practice and Development at Natwest
- Mark Cliffe, Chief Economist at ING
- Saurabh Moody Voiceman, CEO of Alphaa AI
- Dr Djamila Amimer, CEO Mind Senses Global
- and many more
The post Thursday 27th June – AI & CX Transforming Financial Services appeared first on NEURONS.AI.
Link to Full Article: Read Here
Thursday 27th June – AI & CX Transforming Financial Services
Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.
On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services
Get your Ticket Now – http://air.events/directorsforums/june2019/#tickets
With a range of speakers, panel events and case study, including;
- Chris Ezekiel, CEO of Creative Virtual
- Abhijit Akerkar, AI Strategist & Business Integrator at Lloyds Banking Group
- Tom Castle, Head of Artificial Intelligence Practice and Development at Natwest
- Mark Cliffe, Chief Economist at ING
- Saurabh Moody Voiceman, CEO of Alphaa AI
- Dr Djamila Amimer, CEO Mind Senses Global
- and many more
The post Thursday 27th June – AI & CX Transforming Financial Services appeared first on NEURONS.AI.
Link to Full Article: Read Here
Global State Market Report
The shared services landscape continues to flourish as SSO leaders make aggressive commitments to improve their operating models. In a prospering industry, the race is on to design pioneering initiatives for an unmatched competitive advantage amongst competitors. With advancing technologies, new analytical tools, and other emerging trends its no surprise that shared services is advancing at a rapid pace, paving way for change and innovation.
In order to truly understand the current state of the shared services landscape, we took a look at basic statistics covering the most common shared services functions, geographic locations, and SSC lifespan. When compared to past global market reports, these statistics can highlight how the original models have pushed the more matured organizations to the front of the competition. These front runners are those who are now in search of the next innovative trend in order to keep them ahead.
Other data collected, like current and future initiatives, lead us into the emerging trends of the shared services market across operating models, strategies, and talent. These core competencies are the solid strengths that, when leveraged properly, can push shared services operations to the maximum potential. With 68% of leaders stating they are leveraging Centers of Expertise, it has proven to be staple function with a focus on driving performance. In terms of planning, other statistics show how leaders are focused on not only driving performance but expanding the scope of their operations. When questioned how they planned on expanding the scope of their SSOs, 41% of respondents stated expanding in terms of additional service offerings while 21% plan on expanding geographically as well as in terms of additional service offerings. This data represents the ambitious goals shared services centers are setting in a saturated industry.
With the maturity of the shared services industry progressing, majority of SSOs are meeting objectives and setting more aggressive goals; almost a third of shared services leaders are targeting a 7% – 10% increase in productivity improvement. This kind of progression has resulted in an urgency to be innovative and brave when introducing new ideas. As shared services models become more standardized, trends towards obtaining more agility and control for operations optimization have risen. Automated technologies are key drivers in this scenario, enabling the capability to easily ramp up or ramp down operations, as well as improve control. Although the SS model is ideal for scaling up successful RPA pilot programs, aggressive targets across the industry should push for more efficient and effective ideas to introduce.
Organizations have begun leveraging data analytics and business insights to obtain better grasp on their work. This presents an open opportunity to not only learn about the gaps in your operations but also produce ideal solutions. The problem remains with being able to properly read the data received in order to analyze and execute based on the results. This has lead to a skill gap in the workforce, which has professionals asking themselves: Should I learn a whole new skill set or outsource this skill set?
Over the past couple of years, outsourcing has been ignored due to the hype of intelligent automation, with about a 50 – 50 spilt in the industry. Those who stated they outsource work, majority stated that they look towards knowledge services providers that can help them read and analyze data. These results have proven that organizations are seeking services that will provide them with value adding competencies. As these new tools and trends emerge, organizations are searching for help through consultants and advisors in order to make decisions ideal to their objectives. With the influx of change from these emerging trends, share services leaders are most likely to reassess their SS models and turn to advisors for change management consulting.
Change is in the air as shared services organizations discover new tools, emerging trends, and realize the skill gaps ahead. The current landscape illustrates an increase in Centers of Expertise, an urgency to better understand the inner workings of operations, and the need for filling the data analytics skill gap. Managing the change in this year’s industry shift will require new ideas to manage workforce talent, both human and digital, innovative ways to optimize operations in a saturated industry, and how to efficiently achieve successful results. The Shared Services & Outsourcing Week Autumn program analyzes the markets current challenges and supplies you with the skills needed to improve your enterprise value through shared services operations. For more details, access the Shared Services & Outsourcing Week event guide.
Link to Full Article: Read Here
How to Scale Robotics Successfully
As technology continues to progress in the workplace amongst industries, most have implemented their enterprise development initiative with robotic process automation. This large embrace of digitalization has urged shared services leaders to focus on scaling RPA operations across their organizations. These strategies don’t necessarily require introducing more bots, but rather leveraging advanced intelligent automation technologies; in this scenario the next stage is machine learning. When increasing your robotic processes, it can be easy to make a small mistake leading to scaling failure. Instead of learning from your own mistakes, take a step back and learn form the mistakes of other; analyze the process of those who failed the first time. Ensure your RPA program can be scaled successfully from the start with these key tips to building scalability into your automated operations.
As challenging as expanding automated processes across operations can be, setting the tone with appropriate rules and partnerships can create a much easier journey. The first key step to scaling successfully is confirming you have the proper governance set. Having a set governance means prioritizing the right functions to automate and sidestep those that are too complex. Start with identifying the easily replicated and repetitive tasks similar to the ones you’ve already automated, and then make a second set of processes to automate later in the process. Prioritizing your problems and processes simplifies the process and can lead to speeding up your scaling project.
An additional tip to keep in mind is automating the human-fueled risk management to free up time for your workforce. Automating repetitive tasks that were once completed by people frees up workforce capacity, but these automated processes are still relying on humans to keep them in check.
Automating the process of managing, or maintaining, bots frees up more time for the human workforce permitting them to conduct more value-added work. Scaling up robotic process automation operations requires consistently taking action to reinvest in freeing up workers’ capacity making way for improvement in their skills and knowledge on cognitive technology. This strategy delivers an opportunity to enhance operations without having to hire more people. In other words, scaling your RPA program and upskilling your workforce simultaneously results in consistent process improvement. This kind of investment in cross-skills training for your human workforce teaches them how to evaluate the proper automatable functions and ultimately start creating the bots themselves.
Encouraging the enthusiasm of RPA in your company culture is a big driver for implementation. Empowering the choice to automate is a great way to motivate teams to develop their own robotics, or bring in a team of developers, to solve their problems. It is wise to be cautious with this strategy because it can result in too many tasks being automated. The automating too many tasks adds more complexity to the bot. As a bot becomes more complex you can run into a long term scaling failure that is too intricate to maintain.
Scaling your automation means embracing the power of machine learning. Machine learning is not a one-man show, but must be accompanied by other robots. Machine learning is implemented by being supported at both the input and output of its code with historic bots, or bots that have already been within operations. This allows historical data to bee fed into the machine learning module to improve the automation’s reliability. This implementation should be conducted with care due to its complex design. Once this operation is mastered, is has the ability to improve the impact of your robotics. When scaling across your organization, it is just as important to improve the intelligence of your robotics to yield better returns.
The last, but not least, tip for successful scaling is setting realistic expectations by prioritizing your targets appropriately. Implementation is about the outcomes it delivers for your customers, not the amount of bots in place. This key factor means focusing on the needs of your outcome quality and not your implementations. If your goal is to improve your quality of service and turnaround, then set that as your target in that order. Scaling robotics is a key force to improving performance, but it is easy to over-automate without setting a target for your outcome.
Analyzing your problems prior to implementation is the best strategy to take when scaling RPA. The best thing to keep in mind is that the technology is not the leader, but the follower. Essentially, you should be identifying the gaps in your operations and those challenges should prescribe the appropriate tools to fix them. Prioritizing your business objectives delivers better results and delivers a better quality of output. Access How to Ensure Your RPA Can Be Scaled from the Start for more strategies and tips on successful RPA scaling.
Link to Full Article: Read Here
A Majority of Intelligent Automation Projects Are Stuck in Pilot Stages
A majority of organizations actively pursuing IA initiatives are often stalled by a lack of coordination, integration and prioritization, according to a new report by KPMG International and HFS Research. The study goes on to conclude organizations are becoming more ambitious with IA investment plans, but often overlook the full costs of an internal transition (which includes human resource issues)when investment plans are decided solely from a tech-centric perspective.
More than 30%of enterprises have already invested more than $50 million in intelligent automation technologies– so how can organizations move beyond pilots and into more scaled initiatives? Scaling has proven to be the largest inhibitor to IA success. Two other prominent challenges preventing strategic and operational goals from being achieved include an uncertainty about the financial investment needed in IA and a lack of organizational clarity and accountability for driving an IA agenda forward. Business leaders, including CFO’s, will need to decide what their company’s objectives are and then focus in on them.
A variety of recent data has taken note of the problem with IA pilots, regardless of whether they are specific to AI, RPA, or cognitive computing. MIT Sloan Management Reviewmade remarks last year of the 2018 NewVantage Partners executive survey, where 93% of organizations specified that their organizations were investing in AI initiatives.MIT Sloan approached many of the companies who participated in the survey to discuss writing case studies about their work, however, an overwhelming number objected to the idea.
Interestingly, most of the companies disclosed the reason they objected wasn’t because they wanted to keep their AI activities secret, but because they weren’t actually very far along and their projects were not worth discussing yet.Very few had production deployments and most of these were machine learning-based systems that had been in place for many years.
Even more, an international study on the future of work, conducted by IDG and LTM Research, found less than 50%of enterprises have deployed intelligent automation technology. These intelligent automation technologies include artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). 86%of the IT executives surveyed believe that human work, AI systems, and robotic automation must be well-integrated by 2020, although only 12%said their companies are doing this well today. Ultimately, the data revealed an enormous disconnect between the expected business benefits of IA and a typical organization’s ability to realize those benefits.
So how can we bridge the gap and move beyond pilots and into deployment? Unfortunately, there is no simple solution. Developing a solution will ultimately depend on an organization’s IA maturity stage: whether that stage is early adoption, implementation and evolving, maturing and scaling, or at various points (depending on an organization’s existing use of IA by department).
Regardless of what stage your intelligent automation project is in, we suggest you keep the following in mind:
- No matter where you are, or what technology you are implementing, the core objectives and desired outcomes of pilot programs remain consistent; to meet your goals, understand your fracture points and identify what your need to do in order to roll out a successful initiative.
- As part of your organization’s overall process improvement strategy, it’s imperative to continually evaluate your IA goals, strategies and performance measurements so to ensure maximum benefits from the opportunities at hand.
- As an organization is undergoing significant digital transformation, you want to offer your workforce the skill sets they require to navigate their new work landscape, as well as offer them achievable career paths within their current job role and perhaps offer them new opportunities within your organization that have developed due to your IA programs.
- As many organizations introduce a variety of IA technologies into their business landscape and culture, and/or further develop their efforts to do so, their diverse IT workforces may feel they require additional technical training, career development, and a sense they have a solid future at your organization.
- There is certainly no shortage of highly valuable IA software that is available in today’s marketplace or will be offered in the near future. What may be considered a valuable IA software solution with respect to your stakeholders’ objectives, they don’t always prove to be a good investment on a technical level due to the complexity of technical roll out and management.
Link to Full Article: Read Here
Interviews with the Top IA Professionals
Over the past 5 years, intelligent automation has changed the way we work driving new trends, obstacles, insights, and risks. We explore different corners of IA with some of our past speakers touching on points such as prioritizing problems before implementation, the affects of IA on different industries, and cybersecurity threats.
When it comes to robotic process automation, AIG’s Global Senior Director, Manik Patel, says priorities lie with identifying your problems in order to set a strategy. Patel shares one of his success stories with a past client that initially wanted to implement an AI based tool before focusing on the right problems to solve. After being properly guided and prioritizing their problems effectively, his client was able to improve their conversion ratio and increase their sales by 340% allowing their business to flourish. He continues to highlight the importance of overall mindfulness when scaling up IA processes, such as aligning your overall automation strategy with your corporate strategy. He emphasizes how taking initiatives to implement RPA technology and scale up is crucial in today’s world. Patel also touches on how IA with change the nature of work in a sense of creating a labor deficit as new jobs emerge, referencing how the influx of social media created jobs like social media coordinator. Hear more about Manik Patel’s tips and insights in his interview from IA Week.
Michael Edmonds, the Robotic Process Automation Manager at Farmers New World Life Insurance Company, enlightens us on how automated technologies have enhanced the insurance industry as well as improved employee experience. He explains the success of his RPA implementation experience saying, “we started small, we put in a couple robots and they were pretty successful and then when we started the next round of them, people started to get the idea that we weren’t replacing their jobs [but] that we were taking the bad parts of their jobs…and we were getting the robots to do them.” After the introduction of automated technologies and RPA, Edmonds explains how the nature of his company has changed from being clerical and paper heavy to having faster and more accurate operations. With the operation enhancement, his team started up their own in-house production, project management, and IT support creating a multitude of jobs within the company. To hear more about Michael Edmonds’ success stories and insights on how IA is affecting the insurance industry, access his interview.
NASA’s Director of Service Delivery, Kenneth Newton, shares not only how RPA has improved their organization operations, but also the many opportunities it can provide for other government organizations. He explains how RPA implementation has given NASA, an organization known for technology and excellence, the opportunity to continuously improve their operations across shared services functions like HR, procurement, and finance. This continuous improvement initiative has taken off, allowing employees to accomplish more tasks day-to-day as well as open more time to focus on conducting higher skill level activities. He continues, stating how implementing RPA has given employees the opportunity to engage in more customer relationship building activities. Newton also sheds light on why other government organizations should implement automated technologies by stating, “We owe it to the American taxpayer to do things more effectively and more efficiently,” explaining how NASA can set a great example as well as help expand RPA to other federal agencies. Access Kenneth Newton’s interview for more insights on RPA in government.
With the increase in intelligent automation technologies in company operations, Roderick Kaleho, Director of Security & Risk – IAM & Automation at Cargill highlights the top cybersecurity threats organizations should be addressing. He explains the first risk where organizations have material weaknesses is in identity and access management, which lies at the heart of most breaches. RPA and bots with elevated privileges are prime targets for access hacking due to their abilities to be used across the organizations environment. Kaleho continues with overall data governance as another high cybersecurity priority. He elaborates stating, “If you have a robust data governance, data protection and control… that will be an utmost concern.” Another cyber threat Roderick touches on is the importance of privacy and keeping an eye on where your technologies are filtering and transferring your data. He emphasizes that scaling up your IA processes and capabilities also increases your risks, saying he encourages companies to determine their stance before moving up onto bigger automated processes. For more insights into the importance of cybersecurity with intelligent automation, watch Roderick Kaleho’s full interview.
Intelligent automation still remains a young trend with many benefits and challenges ahead. By learning from the insights of experienced professionals, we can take the opportunity to enhance the nature of work across industries for faster, more accurate and efficient operations. When starting out your IA journey, here are some things to keep in mind: prioritize your problems before jumping to the solution, keep in mind that risks increase at the same pace, and maintain cybersecurity when scaling up your operations to secure data protection and avoid cyber attacks. As time progresses, we can expect intelligent automation to guide different industries in different ways yet all with one common goal: enhancing organizations’ enterprise for a better way of life.
Link to Full Article: Read Here