Don’t fear AI. It will lead to long-term job growth.

  • “By 2030, AI will lead to an estimated $15.7 trillion, or 26% increase, in global GDP, based on PwC’s Global Artificial Intelligence Study.
  • In its “Future of Jobs Report 2020,” the World Economic Forum estimates that 85 million jobs will be displaced while 97 million new jobs will be created across 26 countries by 2025.
  • In the next few years, 3% of jobs will be potentially automated by AI, according to PwC’s report ‘Will robots really steal our jobs?’”

Deloitte Survey: The Impact of Artificial Intelligence (AI) on Health Care

“Seventy-three percent of all health care organizations surveyed expect to increase their AI funding in 2020.

Making processes more efficient (34%) is the top outcome health care organizations are trying to achieve with AI.

Health care organizations reported their top AI risk concern is the cost of the technologies (36%).”

Should AI Be Part of Your Digital Transformation Strategy?

“If an organization’s digital transformation strategy does not already include AI, then there is a real need to revisit the overall approach to transformation, said David Homa, director of the Digital Initiative at Harvard Business School. Technology expertise and knowledge must become foundational to how an organization conceives of, not just executes, its goals. As long as technology is viewed as a tool provided by a supporting team, rather than a lens through which to understand the business and produce value, the organization will limit itself and lag others who integrate technology into the core.”

David Homa, Harvard Business School

Customer Service: How to Balance AI and Automation with Human Touch

“One example of an organisation that has got it right is the Commonwealth Bank of Australia. It deployed AI and automation successfully as part of its customer engagement engine, building over 200 machine learning models with 157 billion data points. This helps the bank anticipate customer needs and decide the ‘next best conversation’ customer service personnel should have with each individual customer in any interaction. Because the customer engagement engine was built in a low-code, model-based design environment, the bank can easily adapt and finetune processes over time to improve customer service with every interaction. During the initial lockdown period, the bank saw a 500% spike in usage of their ‘benefits finder’ helping customers understand what they are entitled to, and they were able to quickly change communications strategies both outbound and dealing with inbound.” Launches Strategic Advisory Board of Consumer Products, Retail, and Technology Veterans CEO Craig Silverman [Photo: Courtesy]
  • “Frisco-based, a provider of SaaS artificial intelligence solutions for forecasting and merchandising, has formed a Strategic Advisory Board made up of some of the most experienced executives in the consumer products, retail, and technology industries.
  • Today, some big names are deploying the Software-as-a-Service technology: Pepsico, Neiman Marcus, JCPenney, and Philips.” Launches Strategic Advisory Board of Consumer Products, Retail, and Technology Veterans