Be prepared for the arrival of automated decision making
Once thought of as science fiction, major corporations are already beginning to use cognitive systems to assist in providing wealth advice and also in medication treatment. The use of Cognitive Analytics/Artificial Intelligence (AI) Systems is set to accelerate, with the expectation that it’ll be considered ‘mainstream’ in the next 5 – 10 years. It’ll change the way we as individuals interact with data and systems - and the way we run our businesses.
Cognitive Analysis and AI prepares business users for the era of cognitive analytics / artificial intelligence. Building on established texts and commentary, it specifically prepares you in terms of expectation, impact on personal roles, and responsibilities. It focuses on the specific impact on key industries (retail, financial services, utilities and media) and also on key professions (such as accounting, operational management, supply chain and risk management).
- Shows you how users interact with the system in natural language
- Explains how cognitive analysis/AI can source ‘big data’
- Provides a roadmap for implementation
- Gets you up to speed now before you get left behind
If you’re a decision maker or budget holder within the corporate context, this invaluable book helps you gain an advantage from the deployment of cognitive analytics tools.
Table of Contents
Acknowledgements xi
Preamble: Wellington and Waterloo xiii
Introduction xv
Prologue: What Do We Mean by Work? 1
Summary 1
Introduction 1
Slavery or Freedom? 2
The Rise of Industrialisation 4
Gen Z and the Flat White Society 8
The Impact of Unemployment 9
Replacing the Need to Work 12
Conclusion 13
Notes 14
CHAPTER 1 Introduction to Analytics 15
Summary 15
Introduction 15
Business Intelligence 17
Advanced Analytics 20
Prescriptive Analytics 25
Business Rules 27
Cognitive Analytics 29
The Accuracy of Analytical Outputs 31
Conclusion 34
Notes 35
CHAPTER 2 Artificial Intelligence 37
Summary 37
Introduction 37
The Turing Test 38
The Dartmouth Event 40
Post-Dartmouth, the AI Winter, and Singularity 41
Springtime for AI? 43
How Does AI Work? 45
Can Computers Be Creative? 48
Conclusion 50
Notes 51
CHAPTER 3 The Impact of AI on Leading-Edge Industries 53
Summary 53
Introduction 53
Financial Services 57
Retail Banking 57
Commercial Banking 59
Investment Banking 60
Wealth Management 62
Insurance 63
Automobiles 67
AI Implementation Timeline 68
Key Developments 69
Innovating to Zero 71
AI and Motor Manufacturing 72
Media, Entertainment, and Telecom 77
Retail 79
Conclusion 83
Notes 84
CHAPTER 4 The Impact of AI on Second-Mover Industries 88
Summary 88
Introduction 88
Construction 89
Augmented Reality 90
Drones and Remote Imagery 91
Contractor Plant and Equipment 92
Employee Behaviour 92
Cultural Change in Construction 94
Utilities and Infrastructure Resilience 95
Construction Industry Summary 96
Utilities 97
Electrical Power 97
Gas 98
Water 98
Wastewater 99
Smart Homes, Smart Infrastructure? 99
Interconnectivity, Poverty, and Famine 100
Public Services 101
Education 104
Policing 107
Healthcare 108
Agriculture 109
Technology Industry 111
Conclusion 113
Notes 114
CHAPTER 5 The Impact of AI on Professions 117
Summary 117
Introduction 117
Work and Professions 118
The Importance of Competences 122
The Morevec Paradox and Why it Threatens Professionals 122
Management 124
Office of Finance 125
Legal Profession 127
Sales and Marketing 130
Retailers 131
Commercial Media 133
Creative Arts 134
Publishing 135
Transportation 137
The Digital Railway 137
Autonomous Flight and Virtual Pilots 138
Air Traffic Controller 139
Engineers and the Built Environment 140
Building Engineers 140
Building Planners 141
Medical Profession 142
General Practitioners 143
Dentists 143
Neurosurgeons 143
Data Centres 145
Entrepreneurs 147
Conclusion 150
Notes 151
CHAPTER 6 Risk and Regulation 155
Summary 155
Introduction 155
What Is Risk? 156
Technology and System Failures 157
Data Security and Privacy 158
Employee Error and Fraud 160
Inadequate or Failed Procedures, Systems, and Policies 161
Reputational Risk 162
External Risk 163
Financial Risk 164
AI and the Future of Compliance 165
Roles, RegTech, and Forgiving the Machine 167
Conclusion 169
Notes 170
CHAPTER 7 Implementation Road Maps 172
Summary 172
Introduction 172
New Thinking on Employee Training 174
Robotics and Process Automation 176
Implementation Frameworks 177
Key Implementation Questions 177
Leadership and Sponsorship 179
Creating a Team 181
Finding Talent 182
Managing Progress 182
Human Resources Function 185
Alternative Spaces: The New Workplace 186
Timing: How Long to Implement? 189
Is Big Bang Transformation Possible? 190
Conclusion 191
Notes 192
CHAPTER 8 New Business Models 194
Summary 194
Introduction 194
Augment or Automate? 197
Issues of Place and Time 199
Contextual Insight 201
Wordplay and Communication 202
New Business Models for New Markets 203
Conclusion 203
Notes 205
CHAPTER 9 Coping with the Future 206
Summary 206
Introduction 206
Existing Roles in AI 207
Future Roles in AI 208
AI Education 209
Academic Education 210
On-the-Job Learning: Start-Ups and Innovation Labs 210
Personal Capabilities for Success 212
Can Computers Innovate? 212
Living with Robots 214
Elderly Healthcare and Robots 216
Taking Instructions and Advice from Computers 217
Rules for Robots 220
Conclusion 221
Notes 222
CHAPTER 10 Strategies for Personal Reinvention 224
Summary 224
Introduction 224
The Need for Personal Reinvention 225
How Easy Is It to Change? 226
The Importance of Events and Conferences 228
The Freedom of Franchises – from Employee to Owner 229
Can We Cope with Doing Nothing? 230
Third-Age Thinking 231
Conclusion 232
Notes 234
APPENDIX A: IMPLEMENTATION FLOWCHARTS 235
APPENDIX B: JOBS MOST AFFECTED BY ARTIFICIAL INTELLIGENCE 241
APPENDIX C: LIST OF PROFESSIONAL AI ORGANISATIONS 264
APPENDIX D: LIST OF TABLES 274
APPENDIX E: LIST OF FIGURES 276
INDEX 277
