Discussions about conversational AI are ubiquitous these days and virtual or cognitive agents, such as chatbots and the like, are at the forefront.
Artificial Intelligence (AI)
Robo-advice, also known as ‘automated advice’ refers to the provision of financial advice with as little human interaction as possible. A strand of artificial intelligence, robo-advice offers guidance on the basis of mathematical rules and algorithms rather than human intelligence. Whilst algorithmic trading may have been around for many years, the concept of a ‘robo-adviser’ has only recently become a reality.
Picture the scene: you’re in the middle of hiring for a role in your HR department. At the interview stage, some bright young candidate takes a seat. You ask the classic question, “So why should I hire you?”
Whether you crossed the automation chasm early, or are just starting your journey into digital service delivery, you’re not alone if you’ve got questions surrounding technical ecosystem choices. Generating ROI—and how exactly to go about proving the value of numerous small automation projects versus one giant re-platforming initiative—is a common challenge.
Open vs. Closed Ecosystems
Making the switch to outsourced strategic procurement is not as simple as handing tasks and responsibilities to a third party. It requires wholesale change that starts from within. Someone in procurement needs to lead that change, and it may or may not be the CPO. What procurement needs to do is to find the catalysts in their midst.
Like most people, coffee is one of the most important rituals in my morning routine. There’s something about the aroma and taste that kick-starts my ability to have a great day. So, imagine my surprise when I found out that a favorite coffee shop was closed before I had to jump on an early-morning flight home. The employees were in the shop, but the gate locked out coffee aficionados, like me, who really needed that jolt of caffeine.
With the increased use of technology around the globe, the world is more connected than ever before. The capabilities of technology are improving quickly, so more and more employees are working with increasingly advanced technologies.
The UK has a productivity problem. We’re lagging well behind our European neighbours and have been for decades. One of the reasons? Advocates of the tired theory of taking the ‘path of least resistance,’ discourage businesses from trying anything new when a tried way of doing something is available.
Robotic Process Automation (RPA) tools are being widely adopted across a wide range of enterprises and industries. By executing narrowly defined, repeatable tasks, RPA bots can drive dramatic productivity increases and significant cost reductions. For as little as $10,000 to $15,000 a year to deploy and maintain, a single bot can perform the routine, administrative tasks of five to ten people.