In the existing world of business, two patterns are predominantly noticed. One, the growing preference for Artificial Intelligence or AI for business growth, and two, using automated services for business processes. Using these two entities is making work faster and simpler for almost any kind of business which is opting for it.
Artificial Intelligence (AI) is nothing but several interesting technologies clubbed together to better the human efficiency. The term AI might seem a little daunting to accept but in reality, it is just a way of work. Today, AI is bringing about innovations across all the sectors globally. It is bringing in a considerable change in how systems will perform in future. However, implying that computers will be replacing the human brain is an unnecessary worry.
Governments all over the world are battling hard to tackle the issues with traffic congestions and the rising pollution levels. They recognise that these factors are leading to a negative impact on the society. With people spending an excessive amount of time in commuting, there is a need to develop a smart transportation network powered by automatic asset monitoring, real-time traffic updates and forecasts, and best route planning based on weather conditions – all this is combined under the umbrella of Smart Mobility. The focus has now shifted from simply building new capacity to using the existing capacity smartly by using technology and optimising existing asset performance.
Artificial Intelligence has been in use as early as in the 1950s but it is gaining popularity in recent times for accelerating core consumer services. Some of the forward-thinking enterprises are already making significant progress with Artificial Intelligence for improving their customer relationships. Instead of using traditional call centers to manage customer support, these enterprises are using chatbots and virtual assistants to fulfill the functions of customer support and online sales.
“Technology will be embedded in everything in the digital business of the future” – David Cearley, Vice President and Gartner Fellow.
While there are several definitions of “digital leader”, the one which resonates with my thinking is “A digital leader is a senior leader who promotes long-term digital transformation through not only technology, but a combination of strong strategy, culture, structure, and collaboration”.
I was recently reading an interesting article which mentioned that Google receives close to 3 Million job applications in a year and it hires only 4000 people. In the article, Laszlo Bock, who is the Head of People Operations at Google, shared a few traits which Google looks for while hiring the top 4000. Yes, each company looks for specific traits in its potential employees – the traits, skills, qualities – whatever you call those, are specific to that organisation. Those resonate strongly with the company culture.
It’s all about numbers now. Data rules our lives 24*7 and there’s no getting away from it. It has altered the way economies run, how businesses make decisions, and what choices even the lay population opts for. The data-decision making tools help one and all in making well, better-informed decisions, and get the best out of available resources. So how really has our day-to-day life changed thanks to this newly found number-crunching technique?
When digital and information processes are advancing at a breakneck speed, companies have to come up with strategies to stay on the top of the game. Finally, for all of us, delivering the right components to the end users is the ultimate goal. Hence, a strategic partnership which gives expertise mileage to the participating companies paves way for a smoother long term success. This is exactly what we have achieved as one of the new business partners of SAP. Today, I am honoured to be selected on the SAP Partner Advisory Board. It is a feather in the cap – to become a significant member of a market leader in business applications.
Let me begin with a story. Virgin Atlantic took on the project to improve the design of their reclining chairs on their airplanes. Many stalwart designers were roped in. Many designs were presented. But none of the designs was a hit. Then on the horizon came a young designer, Joe Ferry. Ferry was already working at Virgin in the capacity of a designer. He asked if he could give this project a go and was, in return, given a free hand. And then the herringbone-configured Virgin private sleeper suites were born. Had Virgin Founder, Richard Branson not given Ferry this creative freedom, would Virgin be ahead of the pack with millions of happy fliers? All Branson did here was that he gave an intrapreneur the opportunity he/she needs. Intrapreneurs, much like entrepreneurs, are a breed of achievers who drive the organisation, explore unexpected directions and give a business an interesting new dimension that spurs growth…but they do so from within the organisation.