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Why Every Company Needs An Artificial Intelligence (AI) Strategy For 2019

March 31, 2019
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Strategy
by Judy Pridmore

By Bernard Marr Forbes | 21 March, 2019

There’s no doubt that artificial intelligence (AI) is a transformative technology. But if you think the transformative nature of AI is limited to global tech giants and blue-chip companies, think again. AI is ultimately going to transform every business, in every industry.

Like any business transformation, if you want to get the most out of AI, it all starts with strategy. Your AI strategy will help you to focus on your core business objectives and prioritise ways that AI can help deliver those business goals.

The article has some good examples of companies utilising AI and a handy AI Strategy Template and an accompanying AI Use Case Template to get you started.

Read the article.

The 2018-2019 State of Digital Transformation

January 10, 2019
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Strategy
by Judy Pridmore

By Brian Solis | Altimeter, a Prophet company | 10 January, 2019

Key insights include:

  • Understanding evolving customer behaviours and preferences moved into the second spot in the list of top drivers of digital transformation (a 29% increase from last year).
  • CEOs are notably taking a more proactive role in digital transformation leadership (23%).
  • 57% of companies report CX as a long-term priority, an increase of 21%.

Download a copy.

The promise and challenge of the age of artificial intelligence

October 17, 2018
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Blog New technologies
by Judy Pridmore

By James Manyika and Jacques Bughin | McKinsey | October 2018

This article pulls together various strands of research by the McKinsey Global Institute into AI technologies and their uses, limitations, and impact as follows. Definitely worth a read!

The potential benefits of AI to business and the economy, and the way the technology addresses some of the societal challenges, should encourage business leaders and policy makers to embrace and adopt AI. At the same time, the potential challenges to adoption, including workforce impacts, and other social concerns cannot be ignored.

AI will need to address societal concerns including unintended consequences, misuse, algorithmic bias, and questions about data privacy.

Still, only 21 percent say their organizations have embedded AI in several parts of the business, and barely 3 percent of large firms have integrated AI across their full enterprise workflows.

  1. AI’s time may finally have come, but more progress is needed
  2. Businesses stand to benefit from AI
  3. Economies also stand to benefit from AI, through increased productivity and innovation
  4. AI and automation will have a profound impact on work
  5. AI will also bring both societal benefits and challenges
  6. Three priorities for achieving good outcomes

 

Read the article.

 

Notes from the AI frontier: Modelling the impact of AI on the world economy

September 20, 2018
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Blog New technologies
by Judy Pridmore

Jacques Bughin, Jeongmin Seong, James Manyika, Michael Chui and Raoul Joshi| McKinsey | September 2018

The major findings:

By 2030, the average simulation shows that some 70 percent of companies might have adopted at least one type of AI technology.

The opportunity of AI is significant, but there is no doubt that its penetration might cause disruption. The productivity dividend of AI probably will not materialise immediately. Its impact is likely to build up at an accelerated pace over time; therefore, the benefits of initial investment might not be visible in the short term. Patience and long-term strategic thinking will be required.

Download a copy of the report.

 

Customer Experience Tools and Trends 2018

August 2, 2018
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Blog Customer experience
by Judy Pridmore

Gerard du Toit, Andreas Dullweber, Richard Hatherall and Martha Moreau | Bain & Co | August 1, 2018

Good article looking at the top tools are in customer experience measurement and what new tools are. The top 3 in adoption were predictive analytics, sensors in products and operations, and personalized experience.

Interesting to read about DiDi Chuxing, the Chinese ride-sharing firm. Matching the data it collects on every aspect of millions of rides with end-of-ride ratings from customers allows the company to create predictive models: What sorts of experiences typically produce promoters among its customers? Which ones produce detractors? DiDi doesn’t need to ask all its riders for Net Promoter® feedback; instead, its computer models generate a rating score for almost every ride. Those predictive scores match up very reliably—more than 80% and improving—with what customers say in traditional Net Promoter feedback.

Read the article

Mary Meeker’s 2018 Internet Trends Report

May 30, 2018
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Blog Industry reports
by Judy Pridmore

Mary Meeker | May 30, 2018 (link from Kleiner Perkins)

The annual “must read” for all in the industry, which covers everything from mobile usage to commerce to the next big thing. No real surprises this year but an interesting overview of personalisation, privacy and also a section devoted to China.

With 294 slides including charts and stats, you’ll need to settle in.

See her slides and presentation.

 

 

Australia 2030: Prosperity through Innovation

February 2, 2018
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Blog Industry reports
by Judy Pridmore

Innovation and Science Australia (ISA) | 2 February, 2018

The ISA has released the 2030 strategic plan for innovation, science and research in Australia, that includes 30 recommendations for improving the economic future of Australia framed in the context of five strategic imperatives: education, industry, government, research & development and culture & ambition.

The plan is looking to advise the government on how to generate and capture more of the benefits of innovation. The 18-month review across the ecosystem also highlights the role of startups as job creators and economic stimulators.

The plan has got mixed reaction, some saying it’s more of a sketch with detours, dead ends and red lights. But at least it does provide a launching pad for more discussion and debate.

Download a copy of the report.

 

Startup unicorn Canva’s pitch decks

January 19, 2018
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Blog Startups Uncategorised
by Judy Pridmore

 

Canva’s Co-founder and CEO Melanie Perkins | 19 January 2018

I love reading through old pitch decks and how their founders evolved along their journey. Melanie’s (Canva co-founder) frank account published by Smart Company is a beauty. It includes Canva’s pitch decks from 2008, 2011, 2012 and 2013 and the things they learnt along the way.

Read how startup unicorn Canva turned its “pretty terrible pitch deck” into one that impressed investors.

Read Smart Company’s article about Canva’s evolution.

LaunchVic Startup Guide & Toolkit for Local Government

December 9, 2017
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Blog Startups
by Judy Pridmore

Yesterday I attended the launch of a great new initiative from LaunchVic – a startup guide and toolkit for local government that will also be supported by their next funding round.

The startup guide as been designed to help local government and community organisations support startup activity and drive entrepreneurship in their local areas.

 

 

Pic: Victorian Minister for Innovation and the Digital Economy – Philip Dalidakis, LaunchVic – CEO Kate Cornick and KPMG Corrina Bertram.

Go to LaunchVic’s website to download the guide and find out more information about the funding guidelines.