MUMBAI: The Reserve Bank of India (RBI) on Thursday barred banks and financial institutions from dealing with virtual currencies including Bitcoins and said that it was time and again warning users of virtual currencies regarding the risks associated with it.
What do you think ?
The right Skills will be needed in the new economy - and globalisation and technological change (the so-called “New Machine Age/4th Industrial Revolution”) is making skills that we used to have redundant - FAST!!
We will need to have the necessary skills needed to cope with this massive change....
How will we be able to upskill ourselves when the necessary skills required are changing so fast?
An OECD survey identified some of the issues that need to be addressed:-
A detailed white paper can be found here https://read.oecd-ilibrary.org/education/skills-for-the-21st-century_96e69229-en#page10
My big take on this, is that for you to survive and thrive in the modern economy, you need to learn how to learn!
We were priviliged to host a brilliant mastermind lunch with world leading innovators and disruptors Heather McGowan and Chris Shipley
In the past, you would do a degree, learn your trade, and ou were qualified. That does not cut it any more. Because things are changing so fast, what you learnt a few years ago will be redundant, and if you do not learnt “new way” of doing things, you will be left behind.
The reality of change is the norm, and is you are to keep up with the times, you will need to break through your comfort zone of what you know, because what you know will become redundant
Lifelong learning is key
Is it relevant for you to learn them now (as in a few years time , they will be different anyway)
In 10 years time, jobs that exist today will be redundant, but there will be more jobs that will be needed , which will be augmented by AI.
This is an exciting time for people who are open to change, and are willing to learn how to learn .
We were really priviliged to host a brilliant session by world leading experts, Chris Shipley and Heather McGowan
Spark published a brilliant article on the future of jobs
https://issuu.com/bsicomms/docs/spark_mag_jan_final.compressed/c/s4zw7ca
AeroFarms, AeroFarms
Aidbox, Aidbox
AI-powered aeroponics, GrowX
Automated cricket farms, Aspire Food Group
The Children’s Scrappy News Service, Going to School
Classy Passport, Classy
The Climate Museum, The Climate Museum
Deep Influence, Golden
Dell ocean-bound plastics packaging program, Dell
A Digital Geneva Convention, Microsoft
Disaster Maps, Facebook
Empatico, Kind Foundation
Equity-Centered Community Design, Creative Reaction Lab
The Fairness Project, The Fairness Project
Flow Kana, Flow Kana
Generation WV Impact Fellowship, Generation West Virginia
Global Social Network for Voters, Re-Invent Democracy
The Harry and Jeanette Weinberg Career Academy, Aspire
The Impak Coin, Impak Finance
InvestEGGator, Paso Pacífico
Microsilk, Bolt Threads
MissionU, MissionU
The Online Hate Index, Anti-Defamation League
Ontario Basic Income Pilot, Government of Ontario
Patreon, Patreon
The Pay Equity Explorer, ADP
Perspective, Alphabet’s Jigsaw
Project Gigaton, Walmart
Slimbox, Slimbox
Sustainable Product Optimization Tool, L’Oréal
Visa champions a cash-free society, Visa
Wellville, Wellville
Your American Dream Score, Galewill
What exactly is artificial intelligence and why are people talking so much about it? Put in plain and simple words it is computer doing the job which are now being done by men using their intelligence.
It could be jobs related to speech recognition, visual perception, translating between languages and decision making just to name a few.
Hence, AI over a period of time could become extremely essential and even indispensable for almost all types of business.
We are sharing a few reasons as to why it is important to understand the benefits and advantages associated with artificial intelligence for the overall improvement of efficiency and productivity or organizations.
Source: inspired from Chelsea Gohd - World Economic Forum
Walmart has just filed a patent for autonomous, robot bees. The patent specifically covers “pollination drones.” These tiny robots could act just like bees, pollinating crops autonomously.
The robot bees would operate using sensors and cameras to help them navigate. Flying around autonomously, these drones could potentially pollinate as effectively as the real thing.
Why’s Walmart’s sudden interest in farming drones?
Well, they do sell food - and here’s a way of getting involved at the beginning of the supply chain.
https://www.matchboard.com.au/MatchBoard/Forms/Article/How-AI-can-help-in-customer-experience.aspx
Let’s look at how AI is currently being used to help deliver great customer experiences, and what some of its applications will be as the technology matures.
An overview of AI
AI isn’t just chatbots and virtual assistants like Siri, Alexa and Google Home. AI is also the magic behind machine learning, advanced analytics (Big Data), speech recognition and Natural Language Processing, text-to-speech and speech-to-text, voice and image recognition, interaction routing, dynamic WFO, workflow and business process automation, speech and emotion analytics, intelligent assistants, web self-service, marketing automation, predictive behavioural analytics, and many others.
In short, AI touches upon almost all areas of business and is particularly prevalent in technologies to do with customer interactions via the contact centre, website, mobile apps, social media, and even face-to-face.
CX challenges are technology challenges
According to several recent reports, customer experience professionals see technology as the biggest barrier towards delivering the digital, omnichannel, proactive, and personalised experiences their customers increasingly demand.
The lack of integration of systems, both within and into and out of the contact centre, along with data silos, poor analytics, and the inability to deliver seamless service across multiple channels are all still big issues.
In its various guises, AI can help with all of these.
Despite some of the overblown stories in the popular press, implementing AI does not mean firing all our staff and replacing them with robots or self-service systems.
In most cases AI will be helping humans to better and more efficiently anticipate and meet customers’ needs with the aim of improving loyalty, reducing churn and improving acquisition results all while managing costs.
Here are five examples:
2. Predicting what customers want and are about to do.Digitisation has brought companies masses and masses of data about customers and products. Machine learning and predictive analytics tools help companies use this data to predict customer behaviour with a high degree of certainty. Knowing which customers are about to churn, default, suffer a problem, renew, or upgrade before they do is important information. A company can take proactive action to nip issues in the bud before they become real problems or promote special offers to customers likely to defect.
3. Increase efficiency all round. Routing and WFO software is now infused with AI in order to predict the type and volume of interactions the contact centre is likely to encounter on a given day, at given times, based on what else is happening in and around the company. Down to the individual customer level, routing software can decide exactly which channel or staff member is most likely to give the most satisfactory outcome for each customer, and route accordingly.
4. Know your customers and processes better than ever. All sorts of new analytics are now possible with speech recognition and NLP as AI systems can now ‘understand’ not just the meaning of speech or writing but also the underlying subtleties. Is a customer delighted or annoyed? Where are customers being asked to repeat information? Where are the pauses in interactions, why do they abandon carts, and so on? This kind of detailed analysis allows you to look not just at outcomes – the customer purchases or doesn’t – but how and why the outcome was arrived at. If the outcome was negative what were the reasons for that? All this information allows you to know what your customers really want, eliminate their pain points, and streamline your processes to better meet their needs.
5. Intelligent assistants for your staff. Flip AI round and you get IA for Intelligent Assistants. Rather than fire your staff you can get AI to help them to do their jobs much better. AI systems armed with the kind of knowledge about customers we’ve already talked about can provide agents with detailed insights in a timely, context-sensitive manner when handling a customer interaction. For example, an intelligent system might suggest an upsell offer or just point the agent in the direction of the correct process to solve the customer’s problem. Emotion and speech analytics can even be used during an interaction to suggest alterative courses of action to the agent which are liable to speed up issue resolution or improve satisfaction. New services are coming online that even provide agents with a total, pre-packaged response to a customer’s query. All the agent must do is check it over and approve it.
The ultimate fate of a successful technology is to disappear so completely into the background that we no longer even notice it. So it will be with AI.
We will soon take it for granted that a lot of the software, devices and organisations with which we interact are AI-assisted.
When it comes to the complex business of delivering the level of customer experience that consumers expect these days, AI is already deep in the mix of solutions that CX professionals need to draw upon. Most of these technologies are graduating to the plateau of productivity as we speak, and you need to ensure your organisation is making use of them now, because your competitors certainly will be.
