The New HR Playbook: Catalyze Innovation With Analytics And AI
Metaverse and blockchain technologies — underpinned by data and AI — also
offer a lot of possibilities for improving HR practices. The metaverse, a
shared virtual space bridging physical and digital realities, offers avenues
for remote workspaces and virtual collaboration. It can enhance recruitment,
onboarding, training, and development processes by providing immersive and
interactive experiences that engage candidates and employees on a new level.
The metaverse could also help companies with decentralized teams cultivate a
strong organizational culture by giving employees a shared virtual space for
interaction and engagement. Blockchain technology offers transparency and
security that can have profound implications for HR processes. HR departments
can use blockchain to improve the security of record-keeping, verify employee
credentials, and simplify benefits administration. Blockchain can also
streamline payroll processes, especially for international employees.
Companies can even use blockchain to create decentralized, employee-driven
platforms for collaboration and communication.
Why 2024 will be the year of the CISO
As the ESG/ISSA research indicates, many fed-up CISOs will retire, while
others will move on to become virtual CISOs (vCISOs) or take field CISO
positions with security technology vendors. We'll read numerous stories next
year about CISOs up and quitting on the spur of the moment. While the
reasons won't be disclosed, you can bet they are among those cited above.
Competition for qualified candidates will be fierce. On a side note, I don't
believe there is a significant population of next-generation CISO candidates
with the right experience to step up. In 2024, we will augment our general
discussion of the global cybersecurity skills shortage with a specific
addendum about the CISO shortage. CISO pay and compensation will rise
precipitously. Aside from a handful of $1 million positions, CISOs aren't
paid nearly as much as one might assume. Salary.com calculates a median
salary of about $241,000 with 90% of CISOs making $302,000 or less. Given
the job requirements (long hours, stress, being on-call, etc.), this isn't
very much. With the competition for candidates, firms will greatly increase
base pay, perks, and bonuses, leading to hyper CISO salary inflation.
Hot Jobs in AI/Data Science for 2024
“The new and highly specialized role known as the ‘LLM Engineer’ is
primarily found within organizations that have reached an advanced stage in
their AI journey, having conducted numerous experiments but now facing
challenges in the operationalization of their AI models at scale,” says
Kjell Carlsson, head of data science strategy and evangelism at Domino Data
Lab. ... “Some of the most sought-after AI positions today include machine
learning engineer, AI engineer, and AI architect,” says Shmuel Fink, Chair
Master of Science in data analytics, Touro University Graduate School of
Technology. “Nevertheless, several other AI roles are also gaining
prominence, such as AI ethicist, AI product manager, AI researcher, computer
vision engineer, robotics engineer, and AI safety engineer. Moreover, there
are positions that require industry-specific expertise, like a healthcare AI
engineer.” But back at the ranch, employees in any job role will become more
valuable if they possess AI skills. As they gain those skills, some
specialized job roles will evolve while others disappear.
How Blockchain Will Change Organizations
The fact that blockchain is a distributed database means it is very
difficult to delete data. Once something has been recorded on the
blockchain, it becomes part of the permanent record. This traceability of
data is another key advantage of blockchain technology. The data stored on a
blockchain is immutable, meaning that it cannot be changed or deleted. This
traceability can be useful for tracking the provenance of goods and tracing
the origins of data. It also has implications for compliance, as
organizations will be able to show exactly what data they have and where it
came from. ... Under the traditional centralized model, organizations have
complete control over the data they store. However, individuals have full
control over their data with blockchain technology. This is because each
user has a private key, which is used to access their data. Individuals have
complete control over their data, which is a key advantage of blockchain
technology. It means that users can be sure that their data is safe and
secure and that they can share it with whomever they choose.
Industry Impact: Celebrating IT's Milestones and Achievements This Year
The integration of AI into various solutions, including observability, IT
service management, and database solutions, has allowed for greater
automation of the mundane tasks that often bog down IT pros and hinder
organizations from accelerating their digital transformations. AI-powered
capabilities free up valuable time for IT pros, allowing them to focus on
the most important tasks at hand. Autonomous operations, enabled by
purpose-built models for IT operations and large language models, are
poised to revolutionize IT environments in the coming years, reducing
operation costs and bettering the lives of those in the tech workforce.
... The IT industry has a smorgasbord of accomplishments that have
enriched the digital lives of organizations this year. The industry’s
cloud migration journey, in particular, has played a central role in
allowing organizations to scale their operations and pivot rapidly in
response to market conditions. The cloud journey has transformed the way
businesses operate, offering scalability, flexibility, and
cost-efficiency.
An IT Carol: How the Ghosts of IT Past and Present Can Help Improve the Future
You see yourself sitting at your desk, frantically trying to juggle more
service desk tickets than you ever thought were possible. The trip to the
future also shows the vast number of new complex systems that teams are
using. As applications, networks, databases, and infrastructures grew in
complexity, so did the tools and solutions we need to manage them. This
has created a future where IT pros are trying to navigate and manage some
of the most complex systems and environments imaginable. Teams are more
overworked than ever before. You spend so much time fighting fires that
you have no time to build better technology that provides important new
capabilities. You have almost no time to think about anything else, let
alone spend the holiday with family or friends. Thankfully, this is not a
future that has to be, but rather one we can avoid if we take the right
steps today. Right now, we are on the path to improving the lives of IT
teams through the integration of artificial intelligence (AI). IT
solutions powered by AI, such as observability and ITSM, can help manage
the complex IT environments we are witnessing through ongoing digital
transformation and the move to the cloud.
Why data, AI, and regulations top the threat list for 2024
Some of the essential questions security teams ought to be asking
themselves include: How do we manage and safeguard aspects like
confidentiality, integrity, and availability of data? What strategies can
we employ to protect our data against cyber threats and misuse? How do we
address the security challenges that emerge with expanding data
repositories? How do we differentiate between valuable data and redundant
information? Furthermore, there’s often a misalignment in how data is
structured versus the business framework. Consequently, security teams may
need to engage in discussions with business units to clarify issues such
as how we are applying our data. With whom is this data being shared? ...
Although AI technologies aren’t new, the recent widespread adoption of AI
has introduced a myriad of business and security challenges for
organizations. Key questions to consider include: How do we monitor AI
usage within the organization? How do we regulate the data shared with AI
systems by employees? How do we ensure ongoing compliance with ethical
standards and legal requirements?
2023 - The year of transformation and harmonisation
Millennial leaders bring a distinctively dynamic, digitalised approach to
their roles, characterised by agility, openness, proactiveness, and
hands-on engagement. Their adeptness in navigating the digital landscape
seamlessly allows them to forge strong connections within their
predominantly Gen Z and millennial workforce. This workforce, in turn,
embodies an informed, forward-looking, and tech-savvy ethos, driven by
cutting-edge technologies that facilitate smart and efficient work
practices. In the world of leading-edge technologies, the arrival of Chat
GPT by OpenAI in the preceding November continued to take centre stage.
Throughout the year, there was a surge in competition and discussions
surrounding AI, particularly generative AI, which gained momentum. Amidst
these discussions, Google's introduction of Bard added fervour to the
debate, igniting intense conversations about the potential impact of
generative AI on employment and the perceived threat to various job roles.
This stirred a pot of mixed emotions—feelings of anxiety, uncertainty, and
ambiguity swirled within the tech sphere.
Small businesses lead the way, while larger industries lag in tech adoption
On the other hand, many leaders in the small and mid-sized industrial
sector are in the age group of 50 and above. When they initially embarked
on their careers in the core industry, the adoption of IT and technology
in their companies was significantly lower. Technology was not as
pervasive, and IT integration was often considered an unnecessary expense.
For those who did attempt computerisation in the early 2000s, the
experience was often disheartening. Small IT companies that provided
software solutions during that period often faced challenges and many even
disappeared. The owners of these companies, faced with the uncertainty and
challenges of running a technology-based business, opted for well-paying
jobs instead. This experience left a lasting impact on their perception of
technology and its role in business operations. Moreover, the
proliferation of the internet and the rise of startups introduced a new
paradigm. Many services and software were offered for free or at
significantly reduced rates, fostering an expectation of inexpensive or
cost-free technology solutions. This demotivated many software company
owners from continuing in the business.
What’s Ahead for AI In 2024: The Transformative Journey Continues
The coming year will see a shift in how generative AI is employed by
businesses, with a greater emphasis on using organizational data.
Companies are increasingly cautious about sharing sensitive data on public
platforms, opting instead to host private foundation models within their
four walls. This move is driven by concerns over data security and the
desire to customize AI applications to specific organizational needs. By
using their own data, companies can ensure that AI output is relevant and
in context. This trend will lead to innovative applications of generative
AI in a variety of business functions. ... New tuning techniques such as
prompt tuning and retrieval augmented generation (RAG) will gain
popularity next year. These methods provide more context-specific
adjustments to AI models without the need for extensive retraining. Prompt
tuning, for example, uses smaller pre-trained models to encode text
prompts; RAG combines specific information with prompts to enhance the
relevance of the model's output.
Quote for the day:
"People who avoid failure also avoid success.” --
Robert T. Kiyosaki
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