Strategic advice to leverage new technologies
Technology is at the heart of nearly every enterprise, enabling new business models and strategies, and serving as the catalyst to industry convergence. Leveraging the right technology can improve business outcomes, providing intelligence and insights that help you make more informed and accurate decisions. From finding patterns in data through data science, to curating relevant insights with data analytics, to the predictive abilities and innumerable applications of AI, to solving challenging business problems with ML, NLP, and knowledge graphs, technology has brought decision-making to a more intelligent level. Keep pace with the technology trends, opportunities, applications, and real-world use cases that will move your organization closer to its transformation and business goals.
Recently Published
This Advisor explores how a data science team at Sanofi began an initiative to move toward prescriptive analytics. It sought to increase timely process monitoring and diagnosis and to move from a reactive to a proactive mode of operation that would enhance data analytics capabilities and increase efficiencies.
The productivity of IT matters to just about everyone within the ecosystem IT touches. This includes marketing, finance, service, and HR. So, what are the greatest IT productivity limiters, and what should your IT leaders do to eliminate them and enable your business to transform faster? This Advisor provides some answers.
This Advisor discusses the use of digital twins in radar systems and how this technology enables the digital transformation of the defense industry. This is a good example of using digital twins to simulate products that are costly to build (especially if they are built incorrectly) and their use in addressing compliance requirements.
Modular architecture allows banks to build their value propositions into services, functionalities, and raw data while enabling new distribution and service creation. This Advisor describes a two-dimensional framework that shows how modular architecture enables four distinct roles (integrator, producer, distributor, and platform) to emerge and revolutionize traditional banking.
The benefits of digital twins have been much debated since they first appeared in the space industry in the late 20th century. Fast adoption and benefits flowed in some industries, but many are still questioning their value, including the property and real estate industry. This Advisor looks at how digital twins for places can solve some significant challenges that exist in property and real estate.
Currently, most of the digital transformation work taking place in banks is still managed heuristically. We argue that banks (and indeed companies in every industry) should instead pursue a systematic digital transformation using systems engineering principles. Using this approach, banks can look at value creation in a more goal-oriented manner. This will allow them to successfully transform their business models by integrating stakeholder goals and technologies across an extended partner ecosystem. Of course, this methodology must be underpinned by management optimization concepts.
This Advisor looks at new generative AI applications and the content they produce. It also explores the paradigm shift created by generative AI as well as its impact on the creative ecosystem.
Explainable artificial intelligence (XAI) is becoming a critical component of operations undertaken in the financial industry. It stems from the growing sophistication of state-of-the-art AI models and the desire for them to be deployed in a safe, understandable manner. Responsible artificial intelligence (RAI) principles ensure that machine learning technology is applied in a transparent way while safeguarding the interest of each player in the financial ecosystem. Not surprisingly, banking and financial services regulators have shown an interest in adopting XAI and RAI techniques to help them meet the need for model governance, operational servicing, and compliance in the digital world.