Artificial intelligence (AI) is transforming industries across the globe, and banking is no exception. The adoption of AI is revolutionizing banking products, enabling financial institutions to offer personalized service, increase efficiency, and enhance security. This article explores the impact of AI on banking products, and the innovations being driven by this technology. What is artificial […]
Category: AI / Big Data
Artificial intelligence (AI) is no longer the exclusive domain of large corporations. Small businesses are increasingly tapping into the power of AI to drive growth, enhance efficiency, and improve customer service. However, adopting AI is not without its challenges. This article examines how AI is affecting small businesses and discusses the hurdles that need to […]
While Gen AI holds big promise for banking, most of the current deployments are limited to just a few areas or don’t go beyond the experimental phase. Though early pilots appear impressive, it will definitely take time to realize Gen AI’s full potential for the banking industry. Leaders in the banking sector must address significant […]
As the financial services industry increasingly recognises the transformative potential of Generative Artificial Intelligence (Gen AI), many institutions are beginning to implement these tools in various capacities. Despite many current applications being small-scale pilot projects, the promise of Gen AI to revolutionise banking operations and enhance customer experiences is becoming clear. This article delves into […]
Artificial Intelligence has become a transformative force in the finance industry, revolutionizing how financial institutions operate, make decisions, and interact with customers. From enhancing risk management and fraud detection to optimizing trading strategies and personalizing customer experiences, AI is reshaping the financial landscape. This article explores six (6) ways AI is being integrated into finance […]
When it comes to tech innovations, the banking sector is usually ahead of the curve. This is especially true for Generative Artificial Intelligence (Gen AI), the deep-learning tech that can generate human-like text, images, videos, and audio. It can even synthesize data for training other AI models. Banks are buzzing with excitement over Gen AI, […]
Artificial intelligence is rapidly transforming industries worldwide, and consulting is no exception. The integration of AI into consulting practices offers significant potential benefits, enabling firms to provide deeper insights, improve efficiency, and deliver more value to clients. As AI continues to evolve, its potential in consulting becomes increasingly apparent. PwC, one of the Big Four, […]
Within the competitive world of consulting, staying ahead of the curve is vital. Artificial Intelligence (AI) is a transformative force that is reshaping the way consultants deliver insights and value to clients. Some examples of AI automation tools include ChatGPT, Google Bard, and Fireflies. AI-powered tools can enable management consultants to analyse vast data sets, […]
In the ever-evolving world of finance, where data analysis and informed decision-making are vital, the emergence of artificial intelligence has proven to be a transformative force. One particular facet of AI that is revolutionizing the finance industry is natural language processing, which leverages AI and machine learning algorithms to extract valuable insights from vast volumes of […]
Artificial intelligence has emerged as a powerful tool in transforming various industries, including renewable energy. By harnessing the potential of AI, companies can optimize the integration and management of clean technologies, leading to increased efficiency, cost savings, and environmental sustainability. Consulting firms play a crucial role in guiding businesses through the integration of AI-powered renewables […]
In Lewis Carroll’s novel Through the Looking-Glass the Red Queen tells Alice, “it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!” In today’s fast-paced business environment, the Red Queen’s warning rings frighteningly true. […]
In the digital age, businesses are constantly seeking innovative ways to gain a competitive edge and streamline their operations. One technology that is revolutionizing the business landscape is artificial intelligence (AI). From enhancing customer experiences to optimizing decision-making processes, AI is reshaping the way businesses operate and opening up new possibilities for growth. In this […]
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The Summer of AI and Consulting
A poem in six stanzas Shall I compare AI to a summer’s day? It’s bright and warm, like the sun’s rays. But AI is more than just a season, It’s a tool for consultants, with the power to reason. It helps them solve problems, with its computational might, And brings shrewd insights, that shine so […]
This is the seventh of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
This is the sixth of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
This is the fifth of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
This is the fourth of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
This is the third of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
This is the second of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
This is the first of a seven-part series looking at artificial intelligence and its implications for the consulting industry. AI in Consulting: The Beginning of a New Era How AI is Changing the Game for Consultants The Role of Consultants in an AI-Driven World AI-Powered Consulting: Tools You Need to Know About Real-World Examples of […]
As a strategy consultant at a boutique management consulting firm, I am always on the lookout for new tools that can help organizations become more efficient, effective, and innovative. Recently, I came across ChatGPT, a new chatbot developed by OpenAI that utilizes a powerful language processing model known as GPT (short for “Generative Pre-training Transformer”). […]
Microsoft’s recent announcement to invest $10 billion into OpenAI is a significant move that demonstrates the company’s commitment to advancing artificial intelligence (AI) research and development. This move highlights the growing importance of AI in the business world and its potential to drive innovation and growth. At the same time, the investment is not without its risks. […]
Like it or not automation is coming In the past decade, robots have made drastic improvements in terms of the tasks they can perform. From military grade and industrial robots to household ones, there is no doubt that many of our daily tasks will eventually be performed by them. Although Tesla had to pull back […]
RPA, which stands for ‘robotic process automation’, is a technology that consists of software robots (bots) that can mimic a human worker performing operations on their laptops. RPA bots can log into applications, enter data, calculate and complete tasks and then log out, send emails, extract data from websites and excel, and generate reports. RPA […]
“Robots could take over twenty-million jobs by 2030” (Taylor, 2019). Economists have analysed long-term trends around the level of automation in the workplace. Currently, we live along-side 2.25 million robots worldwide. This statistic has multiplied threefold in the last two decades (Taylor, 2019). Humans invent things that society needs. This reasoning forms the basis of […]
This question comes up often. It is typically asked when you are thrown multiple data sources, running up to millions of rows. Sometimes you are lucky — you may be asked to solve a very specific and well-studied problem (e.g. predict which customer is likely to cancel their subscription within the next month). But often […]
“Data scientists, fast computers, and advanced software are replacing traditional decision-making processes and disrupting tried-and trusted traditional consulting methodologies, with Big Data being one of the main forces of disruption” (Tras, 2015). The words “big data” have become a “buzzword” in the business industry. It is a concept that revolutionised old-school industries, gave birth to […]
The modern day organisation faces a major concern that its predecessors did not: massive, widespread globalisation. Large businesses are past the days where their sole customer base existed in their home country; in order to stay competitive, bigger companies must expand overseas while still managing their customer base on their home turf effectively. Blitzscaling This […]
Artificial intelligence (AI) is no longer the stuff of science fiction. Stanford Professor Andrew Ng has stated that “AI is the new electricity”.[1] In other words, it is a technology that has the potential to completely transform every major industry. Similarly, Executive Chairman of Alphabet Eric Schmidt has declared that “we are in the process […]
Last week we introduced how artificial intelligence is defined as well as how it is currently being used in the medical arena. This week, in the second installment of this two-part series, we will consider the potential future role of artificial intelligence (AI) in healthcare. Introduction Recently, the American Medical Association (AMA), published a policy […]
Digital disruption is touching every aspect of the consumer market, including the insurance industry. Traditionally, the insurance industry has lagged behind other sectors in the shift into digital technologies, its business model proving to be remarkably resilient. But it too is beginning to feel the effect of digital, as its slow-to-adapt mentality puts it at […]
This two part blog series will delve into arguably the two most important vowels in healthcare: A-I. This first part will discuss what artificial intelligence (AI) is and how it is currently being used to improve clinical care, while part 2 of this series will take a peek into what the future holds for AI. […]
The financial services industry has seen drastic technology-driven change over the past few years, and digital has fundamentally reshaped consumer behaviour in banking. According to Oliver Wyman, a global management consulting firm, 90% of Canadian banking customers use digital channels and more than 30% are now banking exclusively virtually. In response, banks worldwide are making […]
Before we dive into why AI is the solution for the banking sector, let’s first explore what big tech companies have in common, how many of them have grown successfully, and what banks can learn. The three ingredients that have contributed to the massive success of big tech firms might be described as: Identify big […]
The past few years have been filled with news of the progress major technology companies are making on the autonomous vehicle front. Companies such as Google, Tesla, Uber, Lyft, and Waymo are making major strides in the space. One tech company, however, that has remained surprisingly aloof, is Apple. Despite a heated race, Apple seems […]
The recent and shocking news that one of Uber’s self-driving vehicles struck and fatally wounded a pedestrian is making the rounds. In camera footage, it appears the vehicle did not slow down, and the safety driver — who wasn’t actually in control of the vehicle — looked down briefly before the accident. It’s disturbing, of […]
‘Big Data’ is one of the biggest buzzwords in business at the moment. Yet for many people it remains a concept that is difficult to grasp – how do firms even gather data about us and how does it really affect our daily transactions? Undoubtedly, Big Data helps firms to understand their customers better. This […]
At the CES 2018 held in Las Vegas, Steve Koenig, Senior Director of Market Research at Consumer Technology Association, presented on tech trends to watch. Outlining the big picture, he described 2018 as the beginning of the “data era of consumer tech”, with the heralds of that coming age being 5G, AI, and AR. While […]
The rise of artificial intelligence has received widespread discussion in recent times and has been predicted to play a huge role in business and financial institutions in 2018. However, its impact is likely to go well beyond the business world with AI expected to play an important role in international relations and warfare. The rise […]
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The Promise and Peril of Big Data
‘Big data’ is a term that describes the vast amounts information being collected and processed as the world’s technological prowess grows at an astonishing rate. What differentiates big data from regular old data is the three v’s, velocity, variety, and volume. Velocity describes the speed at which the information is initially received, transferred, and processed […]
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Facebook Censors Free Speech?
On Friday, 22 September at 11.25pm, I shared the article below on Facebook. It attracted one like and a comment, to which I replied. I thought nothing further of it. The next day, I happened to glance at my Facebook page. The post had vanished! How strange. On closer enquiry, I found that the post still existed […]
Striding along Omotesando Street in Harajuku, Tokyo in summer 2 years ago, I came across Pepper, an emotionally intelligent humanoid robot created by Softbank Robotics Holdings Group (SBRH) in one of its more grandiose Softbank Mobile stores. She greeted and guided customers through the shop. She danced to requests and wittily answered customers’ questions on […]
The key is to know when correlation is enough, and what to do when it is not David Ritter, director at BCG, has explored the world of big data and when companies should take action based on observed correlations in the data. His ideas have big implications for business because, if correlation is enough, then […]
Evans explains that business strategy is premised on assumptions about technology, that those assumptions are changing dramatically, and that this will lead to a different concept of what we mean by business strategy