The growth triple play: Creativity, analytics, and purpose

– “Only 7 percent of companies are delivering on the growth triple play by unifying creativity, analytics, and purpose. They are driving average revenue growth of 2.3 times versus peers from 2018–2019 (which increased to 2.7 times versus peers from 2019–2020).

– In the period 2018–2019, companies using just one of the capabilities—either creativity, analytics, or purpose—saw an average growth rate of more than 6 percent. Adding a second component saw growth rates climb to more than 7 percent. For those that employed the full triple play, growth rates climbed to more than 12 percent.


– CMO’s have a once-in-a-generation opportunity to lead growth, as 78 percent of CEOs are now banking on CMOs and marketing leaders to drive growth.”

https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-growth-triple-play-creativity-analytics-and-purpose

Williams F1 drives digital transformation in racing with AI, quantum

Image Credit: Clive Rose/Getty Images
  • “Hackland explains to VentureBeat how Williams F1 is looking to exploit data to make further advances up the grid and how emerging technologies, such as artificial intelligence (AI) and quantum computing, might help in that process.
  • But what we’ve realized is trying to create data lakes just hasn’t worked. It hasn’t given us the actual intelligence that we wanted, so we often refer to data puddles. It’s much better to have many of these puddles that are well-structured and the data is well understood. And then, through a middleware layer, we can get to the graphical user interfaces.”

https://www.google.com/amp/s/venturebeat.com/2021/06/20/williams-f1-drives-digital-transformation-in-racing-with-ai-quantum/amp/

Why companies are spending more on A.I.

  • “Just over half of businesses said they would spend $500,000 to $5 million on A.I. initiatives this year, up from 34% in 2020, according to a survey released on Tuesday by data labelling firm Appen.
  • The No. 1 reason companies invest in A.I. is to ‘support internal IT operations.’ The second is to ‘improve understanding of corporate data,’ followed by ‘improve productivity and efficiency of internal business processes.’
  • 87% of companies plan to update their machine learning models…at least each quarter in 2021
  • 57% of businesses said they plan to update their models even more often—monthly”

https://www.google.com/amp/s/fortune.com/2021/06/15/why-companies-are-spending-more-on-a-i/amp/

Build, Buy, Rent: AI Approaches to Lending

“As credit unions face a host of new challenges, including growing portfolios safely post-covid, finding new revenue streams, and increasing their competitive advantage, adoption of AI/ML will continue to accelerate in 2021.

AI-driven lending has demonstrated big business results, but lending leaders are still challenged to chart a successful implementation strategy. Achieving better lending, strong ROI, and competitive advantage looks different in every organization, so should you build, buy, or rent AI capabilities?”

https://cutimes.tradepub.com/free/w_zest05/prgm.cgi?a=1

Why UX should guide AI

Image Credit: John Lund/Getty Images
  • “AI’s effectiveness at specialized jobs comes at the price of severe context blindness and a general inability to develop meaningful feedback loops
  • Today’s purveyors of ultra-specific AI applications make one fundamental error: They adjust user experience parameters to an algorithm’s functionality and not vice versa.
  • So how can AI-powered services adapt and put UX at the top? Frankly, it is not that difficult. First and foremost, let AI be AI and let humans be humans. Automatize the tedious and boring parts of the experiences you offer, but always leave users in control.”

https://www.google.com/amp/s/venturebeat.com/2021/06/20/why-ux-should-guide-ai/amp/