Tag Archives: tech trends

The Coming Backlash Against Artificial Intelligence and How to Handle It

How can organisations use AI’s potential to augment, not abolish jobs?

This article first appeared on Manoj Saxena’s LinkedIn profile. 

Artificial Intelligence (AI) is rapidly moving from a mesmeric technology to a powerful teammate and a foundation for enterprise and consumer decision making.

However, AI is a young field full of amazing potential. It’s mystery and lack of understanding is also allowing for hype to grow unchecked. Unrealistic claims by advertising agencies of large technology companies of an “AI nirvana” and portrayals by Hollywood movie producers of an “AI apocalypse” are creating a hype machine that is unparalleled in recent history. The reality is somewhere in between these two extreme scenarios.

Every transformative tool that people have created – from the steam engine to the microprocessor – augment human capabilities and enable people to dream bigger and do more. It also creates massive job dislocation and AI will be no different. Except this time around it will impact not just the blue collar jobs but also white collar jobs such as this Japanese Insurance company replacing insurance workers with AI. 

Lost within all of this hype and fear is perhaps the greatest benefit I see as an entrepreneur, a senior technology company executive, and an investor – the potential for AI to do good for business and for society.

Done right, AI has a massive potential to make our business and our society much more efficient in terms of how we use our scarce natural resources and make a living. Research from Accenture estimates that artificial intelligence could double annual economic growth rates of many developed countries by 2035, transforming work, and foster a new relationship between humans and machines.

Machine intelligence, which is a sub-set of AI, will power and create efficient, real-time adaptive businesses. A “Cognitive Business” that makes sense of all available data and rapidly transforms how it engages it customers at the edge and deploys self-learning, self-assuring business processes at the core.

It will greatly help businesses that are drowning today in Big Data analytics and machine learning science projects but are starving for actionable insights and agility. Despite significant investments in customer big data, business intelligence, machine learning, and cognitive computing, these businesses are struggling with three problems:

  1. Too much data and too little insight
  2. Poor linkage between insights discovery and business action
  3. Scarce learnings from actions taken

Going forward these businesses will deploy AI powered cognitive cloud platforms to augment every user experience and business process. These Augmented Intelligence platforms will pair humans and machines so they can achieve something new and exponentially valuable together: intelligent user engagement and business processes that get smarter and more useful with time.

By emulating human cognitive abilities in software such as memory and sequencing, perception, anticipation, problem solving, and decision making, Augmented Intelligence Platforms will help make sense from messy, disparate first and third party data. They will then use the hidden meaning within all data to engage a human being by providing the right advice, at the right time, with the right evidence across any contact point.

These new class of technologies will create a new range of “new collar jobs” to design, model, build, test and manage these systems – much like the Internet and the world wide web created a new class of jobs in the late 1990s.

Keen to learn more about cognitive technology and the impact it will have on procurement? Join our FREE Webinar, Man & Machine, on the 8th February. 

Technology Is The Answer. But What’s The Question?

Companies everywhere are super-keen to invest in technology and an eye-watering $3.49 trillion will be made available in 2017 for this purpose – but how can CPOs and IT buyers ensure they make the right decisions? 

If you ask any CPO what their main priorities are for the next five years, you’re almost guaranteed to receive an answer involving technology. Spend for software and IT services is rising at a dramatic rate, and is expected to increase by an incredible 29% in 2017 to $3.49 trillion in the U.S. alone.

The urgency for harnessing cutting-edge technology is understood, and the good news is that business are making the money available. But how do you make sure you’re investing in the right tools?

Here’s the secret: you need to make sure you’re asking the right questions

Supply management professionals will gather in Washington, D.C. on March 22-24 for ISM Tech 2017, where they will gain access to the knowledge required to make intelligent technology investment decisions for the unique needs of their organisations. IT procurement experts will reveal new possibilities and cost-saving efficiencies in areas including advanced analytics, manufacturing 4.0, the role of robotics, going digital and utilising augmented reality.

Keynote speakers include Rick Smith, CEO of Fast Radius, who will be presenting on “Our 3D-printed future”, while Silicon Valley Entrepreneur and bestselling author Martin Ford will deliver a keynote titled “How data is driving the transportation revolution”. Other big names include Abtin Hamidi, Co-Founder and Executive Vice President of Cargo Chief; Amanda Prochaska, Vice President Procurement Program Management Office, MGM Resorts International; and Tom Martin, Director of Learning Solutions at ISM.

What questions will Tech 2017 help you to answer?

  • How can robotics streamline my business processes?
  • What’s the best way to use the Internet of Things (IoT) in the supply chain?
  • How can my organisation use technology innovations to capture digital customers?
  • How can I leverage analytics to align planning with demand?
  • How should I mitigate technology-related risks?
  • What capabilities will my team require to keep up with technological advancements?

As with every ISM Event, Tech 2017 is all about the networking. Attendees will have the opportunity to meet scores of innovative suppliers and exchange ideas with representatives from top providers in the field, strategizing with experts on their technology needs to identify new ways to tackle existing challenges and future growth opportunities.

This is one event where just about any conversation taking place in the Exhibition Hall is likely to make fascinating eavesdropping. Instead of the usual procurement “chatter” around traditional practices such as sourcing, contracts and requisition-to-pay, attendees will discuss cutting-edge concepts like cognitive analytics, 3D printing, digital reporting, artificial intelligence and machine learning.

As you network, keep in mind that IT procurement experts have been tipped to be the CPOs of the future. According to Procurious founder Tania Seary, the profession is now looking to this highly-skilled group for leadership, and IT experts are on the fast-track to leadership due to five key advantages:

  1. IT experts already control an important chunk of their organisations’ strategic spend.
  2. Soon everything we buy will include an element of technology.
  3. IT procurement experts know how to drive change.
  4. They are innovation scouts.
  5. They understand cyber security.

Don’t miss out – ISM Tech 2017 will take place at the Gaylord National Resort and Convention Center, Washnigton D.C. from March 22-24, 2017.

Looking Back: 3 Top Supply Chain Tech Trends In 2016

To look forward, we first need to look back and learn. What are the key supply chain trends from 2016 procurement needs to take account of in 2017?

As we look ahead to the New Year, this is also an opportune time to take a look back at the trends and innovations that began reshaping the supply chain in 2016. These trends will continue to impact procurement professionals throughout 2017 and beyond.

A Stronger Focus On Digital Supply Chain Networks

Many supply chains still utilise a mix of paper-based and technology-driven processes. However, more and more companies are moving towards fully-digital supply chain models.

In fact, in a recent survey, more than 75 per cent of respondents said that it was important or very important for their organisation’s supply chains to undergo a digital transformation.

An all-digital supply chain provides procurement teams with more visibility into their supply chain. This enables them to better understand their data, their processes, and their overall operations. Armed with this insight, it is much easier to address issues and implement improvements.

These are advantages that all supply chain professionals seek. As a result, the adoption of digital supply chain is expected to increase in 2017.

The Rise Of Blockchain Technology In the Supply Chain

All businesses are at risk of a cyberattack. Recent large-scale DDOS attacks that crippled sites like Netflix, Paypal, Reddit, Twitter and thousands of others proved a sobering reminder.

That is why many organisations and supply chain teams have started to adopt blockchain data structures to protect their valuable information.

A blockchain is a data structuring approach that groups data together into ‘blocks’. Every block cross-references the previous block and the following block to ensure the data is valid, creating a “chain.”

In addition, the full chain is not stored in a central location. Rather different blocks are stored on different computers and networks at the same time. Only those who have authorised access to the blocks within the chain can access other blocks and implement changes.

As a result, data stored in blockchains are very resistant to tampering, making it extremely secure in the face of cybersecurity risks.

Major companies are beginning to incorporate blockchain into their supply chains as part of their invoicing, auditing, and inventory-tracking processes. For example, IBM launched a platform to test blockchain technologies to track high-value goods. And Walmart used Blockchain to tackle food safety.

Blockchain gives supply chain professionals a means of combating cybersecurity threats while ensuring that items can be tracked in a transparent and secure way.

“Uberization” Takes Hold

If you’ve ever taken an Uber from the airport or rented a vacation home through a service like AirBNB, you are already familiar with the benefits of an on-demand, pay-per-use service. Now, the supply chain is getting familiar with them as well, as procurement professionals seek to leverage the approach to manage inventory and reduce costs.

For example, companies are now offering on-demand warehousing services, which could reduce (or eliminate) the need to maintain expensive distribution centres.

Just as procurement professionals are looking to benefit from the trend, companies are looking to capitalise on it. Boeing is betting big on the pay-per-use model and is leasing their planes to Amazon for its Air Cargo network. In the retail space, companies such as Nordstrom’s, Costco and Whole Foods are implementing new options for customers.

About a third of all supply chain professionals see Uberization as a disruptive and important element of the supply chain.

In the past year, these three technologies had a big impact on supply chains and the people who work in them. And they will continue to shape the supply chain in 2017. However, they aren’t the only ones. What other technologies do you think will play an essential role in supply chains in the New Year?