Culture is not an elusive, ephemeral, intangible thing; it’s actually very visible and even measurable. Corporate culture is broad and can be hard to grasp, so it’s easy to push it to the side. However, culture isn’t secondary—it’s core to building the happiest and most motivated teams you may ever have and, of course, to increasing revenue. CEOs recognize this.
More than 90% of CEOs believed that culture was important, and 92% believed that improving their company’s culture would increase the firm’s value.[C1]
Researchers compared stock market performance of a portfolio of publicly-traded companies rated “Best to Work For” by employees with the Fortune 500. After five years, those rated “Best to Work For” were on average 40% more valuable in the stock market, while in the same period the S&P 500 experienced a 9% decline in returns. Happy employees play a role in increasing a company’s stock price.[C2]
How can Artificial Intelligence positively impact your culture?
Productivity is key to a business’ success. It is directly tied to the employees’ ability to fulfill a task for which they previously set standards or objectives. It’s no secret that most businesses have continuous improvement of individuals’ performance as a goal. And it is also not a secret that most employees want to be productive, but the organization too often gets in their way.
Research by Harvard Business Review indicates that “the average company loses more than 20% of its productive capacity more than a day each week to what we call “organizational drag,” the structures and processes that consume valuable time and prevent people from getting things done.”[C3]
How can Artificial Intelligence boost productivity?
Attracting and hiring the right talent for your company is pivotal to success, no matter your industry. The seasoned recruiter has an eye for discerning when a person is a good fit. Team leaders, too, have this eye—for sifting the high from the low performers. As an organization grows, it will need to scale the experience. In addition, it will need to continue to detect genuine talent with a level of certainty that it will be a great fit for its structure. But how?
First let’s consider the prominent challenges in talent acquisition nowadays. The inefficiencies come from all sides. How can we sift efficiently through the average 250 resumes for each corporate job? How could we lower the wait times for the recruiter waiting on her hiring manager’s review? How do we avoid missing the best-fit candidate amidst all the noise? And how do we cut out the biases involved in hiring? [C4] These are all very real challenges for the recruiter.
How can AI improve and scale the recruiting process?
A Quantum computer has the ability to be in multiple states and perform tasks using all possible permutations simultaneously
On the grounds of such features—and by the end of 2025—it is expected that there will be more than USD $23 billion in revenue generated through the adoption of quantum computing across the globe.
During this forecasted decade, the global market for quantum computing is expected to expand exponentially: a whopping 30.9% compound annual growth rate, as per Persistence Market Research.
Example: A German automaker quantum computed an optimized traffic flow for Chinese taxicabs in Beijing, using freely-available GPS data of taxis actively on duty. It took the machine mere seconds to process data and come up with nearly traffic-free routes.
The most essential medium, connecting all of these elements, that ensures a transfer of data that is as fast as the computing capabilities
5G will ensure the seamless and speedy connectivity and transfer of data for M2M communication (IoT Grid and analytical/AI platform). Not only that, but it also provides scaling possibilities in the mobile network.
According to a report from MarketsandMarkets, the 5G
infrastructure market will be worth $2.86 billion by 2020 and $33.72 billion
by 2026, growing at a compound annual growth rate of 50.9%.
Example: Self-driving cars rely on 5G networks in order to access the speedy data connectivity necessary for smooth and error-free performance.
5G’s extremely high transmission rates enable all infrastructure and storage to be shifted to the cloud.
With a surge in collected data and to power up AI and ML processes, cloud computing is the way to go for organizations to digitize their business completely
It’s not enough to think about a digital journey for end users: companies need to rethink all their corporate processes to be ready for this new era. Organizations already leveraging Cloud Technologies to transform their internal IT departments are simultaneously building a business-ready IT, capable of streamlining the development lifecycle and reduce time to market. This also allows the transformation of their organizational culture, by disbanding silos. Enterprises looking to bring digital transformation into their internal applications, without replacing them, will refract their core applications using cloud-native technologies, like containers. Others will be bolder and seek core SaaS-based multi-cloud technologies with new developing tools, integration, and deployment options.
According to Forrester, nearly 60% of North American enterprises today rely on public cloud platforms.
Example: A railroad system supplier partnered with a renowned cloud technology services company to centralize their data from multiple sources, stream it uninterrupted, and direct data flow to different systems as required. Together they developed a cloud-based application with the following components: an application gathering and normalizing data to a specific data model format, an analytics application displaying real-time information, and RESTful APIs that integrate business systems with the cloud application.
Cloud Technologies enable rapid product and service innovation, as well as market readiness, through faster deployment. With quick, flexible scaling and integrating capabilities of fragmented systems, Cloud Technologies provide the foundation for delivering successful customer experiences and business efficiency.