Contracting, common for every company, is something that few companies do efficiently or effectively. The process of reviewing contracts and legal documents is manual, tedious and error-prone, exposing organizations to legal risks if not well managed. The financial consequences can also be severe. KPMG estimates that inefficient contracting causes firms to lose up to 40 percent of value on a given deal, depending on circumstances.
Given the supply chain disruption, business shut-downs and economic uncertainty caused by COVID-19, it’s never been clearer — doing business closer to your own shores is coming back into vogue.
With recent restrictions on H-1B workers and a tech talent shortage, selecting a nearshorer is fast becoming the first step on a company’s digital transformation journey.
At the time of writing this piece, I am just one of five million people emerging from the world’s longest coronavirus-related lockdown, in Melbourne, Australia. For nearly two months, I was only allowed to leave the house once a day for essential items and required to stay within three miles of my home. From takeaway meals to IT support, to doctor’s appointments, most of the goods and services I've needed have been ordered virtually. Since COVID-19 hit, I’m amazed at how quickly the world went virtual.
Since the onset of COVID-19, artificial intelligence, data science and machine learning have gone from time-saving to life-saving technologies. The fact is, they have rapidly emerged as powerful weapons in the fight against the pandemic.
From accelerating testing capabilities to enforcing social distancing measures, these bots – formerly unsung heroes of AI – have suddenly taken on a significant role in altering the way we face pandemics.
Here are some of the ways bots continue to play an essential role in the fight against COVID-19:
Artificial Intelligence (AI) has now invaded how industries operate in more ways than we can count and know. It has developed into a welcome (and now necessary) addition to boost efficiency, sharpen forecasts and speed up certain processes. Any company that sells a product has a supply chain, which is the network of all the stakeholders involved in the creation and distribution of a certain product, and any supply chain can benefit from AI.
The future of work will be defined by automation. With such transformative change, everyday workers may be skeptical about how it will affect them. However, what many fear-inducing headlines often don’t reveal is that automation creates plenty of opportunities.