"Unlike traditional relationships where feedback on products and services takes time to gather, the automated closed-feedback loop is an inherent component of Industry 4.0," Ramaswami said. "The seamless record-keeping enabled by digital systems will speed traceability, while limiting liabilities, warranty costs and recalls." Despite these advantages, the shift is still in the early stage. According to research from Capgemini, only 6 percent of manufacturers are considered "digital masters," or those that have reached an advanced stage in digitizing the production process. That means competitive advantage is still up for grabs, rather than implementation becoming an imperative to merely remain competitive. Still, the movement is real; Capgemini estimates that 76 percent of manufacturers already have a smart factory initiative in the works or currently under formulation.
Companies deal with team changes regularly. Issues arise tied to trust, accountability and personnel behavior that goes against the values of a company – or society, in general. In the tech industry alone, sexism, racial bias and other serious, but eradicable trends persist from the C-suite down to the entry-level. Consequently, the industry should focus on efforts to develop and grow a diverse talent pool that can build AI technologies to enhance business operations and address specific sets of workplace issues, while ensuring that it is accountable. Employers need to recruit people who understand the importance of applying strict human resources guidelines to AI performing tasks alongside human employees across industries and geographies. AI, for its part, needs to learn how to conduct itself in a work environment and be rewarded for expected behavior to reinforce good habits.
In times of political and economic change, financial crime and corruption tend to grow fast. The shock of Brexit, terrorist attacks, the revolution in the Islamic world and other factors create an environment that is demanding for change. AI and Analytics driven solutions have been widely adopted across different industries for various purposes. However, only a handful of banks around the world are working with advanced analytics and artificial intelligence technologies to improve their risk and compliance activities. As the world enters into an era of high uncertainty, the upcoming years will see financial institutions adopt and deploy best-in-class analytics powered tools as part of their efforts to remain fully compliant and to combat financial crime. With that in mind, here are the top three trends that will power the compliance revolution
IoT devices are vulnerable by virtue of their networked operation. A connected wristband monitoring a patient’s heartbeat and blood oxygen levels, for instance, might continually send sensitive private data over a wireless link to a medical application hosted by a cloud service provider. It is useful to think of the vulnerability in this type of device – and therefore the protection that is required – in terms of layers. For example, one layer is the personal area network connection, typically a Bluetooth Low Energy radio link to a smartphone or tablet with which the wristband is paired. An extension of this layer might be the Wi-Fi link provided by the smartphone or tablet to a home router or gateway. The second layer might be the cloud platform, such as Microsoft’s Azure or Amazon’s AWS; and the third is the application itself running in the cloud.
Predictive marketing moves away from stats, stereotypes or the constraints of age and gender towards informed messaging decisions that amplify the customer journey. This is done through AI-driven propensity models based on billions of moments. These models learn about a customer’s future behaviour, based on their previous interactions, such as browsing behaviour, past purchases and interests, as well as metadata about their devices and thousands of other variants. All these aspects combined paint a holistic picture of the entire customer journey and are delivered at scale in real time. All the data in the world – even your own – is worthless it can be converted to intelligence and applied to your business, giving you better insights into your own customers and prospects than ever before.
A lot has been written about benchmarking and following best practices in cybersecurity. One important question is whether you know where you are heading? What is the vision of what success looks like for your security and technology teams? Consider visiting your industry peers and learning from other public and private sector organizations that are doing cybersecurity culture well. Look at the National Association of State CIOs (NASCIO) award-winners, NGA best practices and state and local partners in your region. Consider a road-trip to learn from others and benchmarking progress. For example, back in 2011-2012, Stu Davis the Ohio CIO, brought a team up to Michigan to see how we built our security architectures and governance. Ohio State government used that visit and follow-on conversations to build an excellent cybersecurity program.
Despite the impact of WannaCry, a month later it seems that many organisations hadn't bothered to apply the correct patches, as Petya used the same exploit to spread itself across infected networks. It claimed a number of high-profile victims -- many of which are still dealing with the post-infection fallout. "Something we don't talk about often enough is the opportunity everyone has to limit bad consequences by employing consistent and effective cybersecurity hygiene," said Phil Quade, chief information security officer at Fortinet. "Cybercriminals aren't breaking into systems using new zero day attacks, they are primarily exploiting already discovered vulnerabilities." Researchers say lessons must be learned and that if security patches are released then they need to be applied.
By all indications, agile is helping enterprises around the world succeed. For the past five years, the top three cited benefits of agile include: manage changing priorities (cited by 87 percent), team productivity (cited by 85 percent), and project visibility (cited by 84 percent). Still, projects still have interdependent tasks and the percentage complete must still be tracked and reported to completion. A project is still a project, a deliverable is still a deliverable, and as such project management principles still apply. So myth one debunked: Agile does not mean you don’t project manage. Agile means you project manage constantly, to the very heartbeat of the development teams. Keep your basic project management practices as your guiding principles. And stop thinking that the scale or complexity is new or unique.
Any cloud communications-as-a-service system -- whether it's a UCaaS or CPaaS platform -- will usually be better than on-premises options for external communications, because the cloud itself resides outside corporate premises. The cloud-based system naturally communicates across network boundaries. At times, though, cloud-based systems may falter for internal communications, especially if the network or IT is highly restrictive. If this is the case, an on-premises approach is probably a better option. But, with on-premises networks, external communications can be challenging. In general, internal communications can work better with UC services, whether it's a UCaaS platform or on premises. UC is designed, developed and deployed to handle internal communications.
Quote for the day:
"He that is overcautious will accomplish little." -- Friedrich Schiller