“Retail is poised to overtake banking as the top spender on artificial intelligence as companies including Home Depot Inc. and Wayfair Inc. turn to the technology for a wider range of operations, from inventory management to more personalized online search and shopping, according to market researcher International Data Corp. ‘Everything you can think of in…
Month: September 2021
Portrait of an AI Leader: Piyush Gupta of DBS Bank
“Early on, one of Gupta’s strategies for AI was simply to start with the technology early and try a lot of different things. One of the bank’s key performance indicators was based on conducting a thousand experiments a year, many of them involving data and AI. At DBS, Gupta has led a major transformation in…
How Midsize Companies Can Compete in AI
“In a representative sample of more than 6,000 firms across sectors, we found that only about 10 to 15% of midsize firms have adopted AI in their business so far. If midsize companies want to thrive in the AI era, they need to look for new ways to compete — including options that they may…
Innovate or optimize? Companies need to operate like its 2020 for the next four years
“’This study captures the pulse of global business leaders and their nearly ubiquitous belief that massive digital opportunities abound in the next five years, and their company culture must embrace an innovation mindset,’ Respondents also ranked innovation, customers and employee experience as more important to company culture than shareholder value. The top 10 list looks…
India launches Account Aggregator to extend financial services to millions
“On Thursday, eight Indian banks announced that they are rolling out — or about to roll out — a system called Account Aggregator to enable consumers to consolidate all their financial data in one place. (Participant banks are HDFC, Kotak, ICICI, Axis, SBI, IndusInd, IDFC and Federal. Four of them are rolling out the system…