Accountability is critical in business. Professional services companies are held to high standards, and client expectations need to be met. But are the goals being measured for each project telling the true tale of success?
Companies are well-accustomed to setting statistical KPIs on which to judge project delivery. From budget to actual cost, earned value to ROI, they each provide a clear benchmark. However, projects are powered by people – and the impact of team chemistry on project performance is rarely measured.
The ongoing conversation that artificial intelligence (AI) will replace our jobs has caused much concern and speculation. Workers are wondering which skills are replaceable, which will be automated, and what they can do to ensure their skills remain competitive. As an architect working on AI, machine learning and bot technologies, however, the way I see it is this: technology is going to replace tasks, not jobs.
Entrepreneurs have disrupted nearly every industry, developing start-ups that transform the way business is done. Airbnb for example has changed the world of travel forever. Today, this company enjoys a value of more than $31 billion. Lyft comes in at a cool $7.5 billion, after turning the taxi service industry on its head. FinTech firms like Stripe have created mobile payment solutions that are used by leading financial services companies like Visa. Even specialized services such as computer security are dominated by disruptors like Synack.
ERP systems transform, integrate and scale businesses better today than they ever have. It’s the only system that tackles all the processes that are essential to running a business and eliminates those that aren’t. And cloud has made ERP solutions more affordable, and easier to implement and manage.
In the 1980s, the television program Knight Rider gave a glimpse into a world where artificial intelligence could learn, communicate, and make independent decisions. The star of the show, a self-aware computer, was housed in a 1982 Pontiac Trans Am, and it intrigued viewers. They imagined how the technology could change lives, handling dull or dangerous tasks with a simple spoken command. At the time, such software sounded like a creation of science fiction. Now, less than four decades later, artificial intelligence and machine learning technology are our reality, communicating with users through natural language interfaces.
As it gets easier to connect with one another, the lines become increasingly blurred between our physical reality and the digital world. The million-dollar question is whether the enterprise will be able to effectively manage both their intelligent machines and their human talent, an expert in the field of innovation says.
Consider the following expenses claims: registration fees for a cancelled seminar, two separate claims for mileage when the employees travelled together, and a sandwich-and-coffee dinner claimed as the full per diem.
While it’s easy to believe that a few dishonest claims won’t hurt, for individual victims, expenses fraud can be costly. Research conducted by the National Fraud Authority suggests that exaggerated expenses claims cost the British economy around £100 million annually; the private sector alone lost £80 million in 2013. Imagine if 20 per cent of your staff added 10 per cent to each mileage claim; the cumulative loss for the company would quickly become significant.