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AI-enabled enterprise starts with education, not tech

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The AI-enabled enterprise won’t be built in a day. Take it from representatives at companies knee-deep in building…

AI hardware, software and services for their customers and clients, including IBM, Affectiva Inc. and Grant Thornton LLP.

At the recent AI and the Future of Work event hosted by MIT, these representatives provided advice on how CIOs can start to build the AI-enabled enterprise — as quickly as tomorrow morning. One of the first steps they suggested CIOs take? Get caught up on what the AI terrain looks like.

“The number one thing I would say is to invest the time to really understand what is happening in AI,” said Nichole Jordan, managing partner of markets, clients and industry at accounting and advisory firm Grant Thornton.

AI literacy is a must

Jordan pointed to AI Magazine and O’Reilly Media’s artificial intelligence newsletter as two “simple examples” of how CIOs can incorporate AI education into their daily routines and that of their teams. She described this as just “a sprinkling,” but said the reading material can encourage discussions about artificial intelligence and how its resurgence might affect the future of the company.

Reading up on AI could be worthwhile even for the smallest organizations, according to Jordan. “It no longer requires a multimillion-dollar budget to get AI started in your organization,” she said.

AI, Grant ThorntonNichole Jordan

Take mergers and acquisitions, which require advisors to monitor and analyze disparate and often siloed data sources such as patent filings or regulatory findings. Today, AI is doing that kind of work and even collecting metrics on company culture, customer feedback and employee engagement that it scrapes from sites such as Glassdoor.

“Over time, the AI is able to develop and monitor trends, patterns, make recommendations to you for potentially other companies to put into your acquisitions portfolio,” Jordan said. “It is about speed and accuracy and being able to analyze a lot of data that we didn’t historically have the opportunity to bring together into one place.”

Knowledge overhype

Affectiva’s Gabi Zijderveld echoed Jordan’s remarks, saying that education is a must.

“There’s so much hype and fluff around AI because every bit of technology today is [marketed as] AI,” said Zijderveld, chief marketing officer and head of product strategy at the emotion measurement company.

As CIOs familiarize themselves with what’s out there, they also need to get a grip on the appropriate opportunities AI can provide to their companies, according to Zijderveld. In Affectiva’s case, its first customers came from an obvious market segment.

affective, AI, emotion AIGabi Zijderveld

Media and advertising companies began using the emotion AI technology, which can interpret facial expressions in real time, to test their content and assess audience response. These days, customers include educators who use the technology to help children with autism decode facial expressions, as well as medical care workers who can use it to detect Parkinson’s disease or as a benchmark for facial reconstruction surgery.

Zijderveld also suggested CIOs look at industry best practices, talk to their peers, find out what competitors are doing and uncover good examples of applied AI, taking note of their results and the products and technologies that drove those results.

And she provided a note of caution for CIOs: Don’t fall into the over-engineering trap. “If you have an old-fashioned ruler that does the job, maybe you don’t need AI there,” she said. “Use the damn ruler.”

Lifelong learning is key

For Sophie Vandebroek, vice president of emerging technology partnerships at IBM, building the AI-enabled enterprise means developing employee skills.

“At IBM, in fact, we are being measured to make sure we take 40 hours of education every year on these kinds of topics,” she said.

Not only is training important, but hiring and bringing in the right skills is also key, according to Vandebroek. For AI-enabled enterprises to succeed, employees who know how to use AI tools, especially as they become more accessible, easier to use and embedded into workflows, will be critical.

Vandebroek cited IBM’s Project Debater product as an example of how AI could change workflows. The AI system has been trained to take a topic, craft an argument and debate its merits — in minutes. Vandebroek believes a technology like this could help companies work through difficult decisions they need to make, such as with an acquisition.

As part of that education, companies — from the board of directors on down — need to recognize the importance of trust and transparency, according to Vandebroek. She stressed decisions be explainable and that data privacy be made a priority.

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Source: https://searchcio.techtarget.com/news/252452985/AI-enabled-enterprise-starts-with-education-not-tech

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Meituan shares slump as fallout from CEO’s poem post festers

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SHANGHAI (Reuters) – Shares of Chinese food delivery giant Meituan slumped further on Tuesday in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping.

The company, which recently raised $10 billion, has lost $30 billion in market value over two days amid a broader drop in Chinese tech shares as investors remain jittery over a regulatory clampdown that last month ensnared Meituan.

The poem, posted on May 6 by Chairman and CEO Wang Xing on a small social media site that he founded, criticises the emperor of the Qin dynasty, who burnt books to suppress intellectual dissidents, only for it to be overthrown by illiterates. While many on Chinese social media interpreted the posting as an allusion to the anti-monopoly campaign backed by Xi, Wang on Sunday said he was referring to business rivals, saying that “the most dangerous opponents are often unexpected ones”.

The original posting has been removed.

Meituan declined further comment.

Adding to investor concerns, the Shanghai Consumer Council said late on Monday that it had summoned Meituan and e-commerce firm Pinduoduo, accusing them of violating consumer rights. On Tuesday, Meituan shares tumbled 5.3% to a seven-month low. “I think mainland investors paid more attention to the poem, but international investors are more worried about the rising cost of employing riders of the company,” said Fred Wong, chief investment officer at Hong Kong-based eFusion Capital.

He was referring to social media criticism of Meituan and other industry players’ treatment of delivery riders, most of whom are not covered by basic social and medical insurance.

The Hang Seng Tech Index, which includes Chinese tech giants Alibaba, Tencent and JD.com, dropped as much as 4.5% on Tuesday to a six-month low.

(Reporting by Shanghai and Beijing newsrooms, Editing by Tony Munroe and Gabriela Baczynska)

Image Credit: Reuters

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Source: https://datafloq.com/read/meituan-shares-slump-fallout-ceos-poem-post-festers/14574

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Meituan shares slump as fallout from CEO’s poem post festers

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Published

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SHANGHAI (Reuters) – Shares of Chinese food delivery giant Meituan slumped further on Tuesday in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping.

The company, which recently raised $10 billion, has lost $30 billion in market value over two days amid a broader drop in Chinese tech shares as investors remain jittery over a regulatory clampdown that last month ensnared Meituan.

The poem, posted on May 6 by Chairman and CEO Wang Xing on a small social media site that he founded, criticises the emperor of the Qin dynasty, who burnt books to suppress intellectual dissidents, only for it to be overthrown by illiterates. While many on Chinese social media interpreted the posting as an allusion to the anti-monopoly campaign backed by Xi, Wang on Sunday said he was referring to business rivals, saying that “the most dangerous opponents are often unexpected ones”.

The original posting has been removed.

Meituan declined further comment.

Adding to investor concerns, the Shanghai Consumer Council said late on Monday that it had summoned Meituan and e-commerce firm Pinduoduo, accusing them of violating consumer rights. On Tuesday, Meituan shares tumbled 5.3% to a seven-month low. “I think mainland investors paid more attention to the poem, but international investors are more worried about the rising cost of employing riders of the company,” said Fred Wong, chief investment officer at Hong Kong-based eFusion Capital.

He was referring to social media criticism of Meituan and other industry players’ treatment of delivery riders, most of whom are not covered by basic social and medical insurance.

The Hang Seng Tech Index, which includes Chinese tech giants Alibaba, Tencent and JD.com, dropped as much as 4.5% on Tuesday to a six-month low.

(Reporting by Shanghai and Beijing newsrooms, Editing by Tony Munroe and Gabriela Baczynska)

Image Credit: Reuters

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Source: https://datafloq.com/read/meituan-shares-slump-fallout-ceos-poem-post-festers/14574

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Renault, Nissan looking for more savings on batteries – De Meo

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PARIS (Reuters) – French carmaker Renault and its Japanese alliance partner Nissan are in talks to collaborate more and improve the savings they can derive from using the same battery technology, Renault Chief Executive Luca de Meo said on Tuesday.

Batteries are one of the costliest aspects of developing electric cars, at a time when auto groups are racing to pull ahead in this segment. For Renault and Nissan, it has also long been one of the weaker points of a partnership stretching back over 20 years, with each sourcing batteries in different ways, including from South Korea’s LG for the French firm.

“If we manage to come up with a very synergetic approach on batteries, the alliance will probably be one of the first to cross the threshold of a million cars sold on the same battery module,” De Meo told a Financial Times car conference.

Collaborating on battery technology will be a big test of the future of the Renault-Nissan alliance, shaken by the 2018 arrest of its architect-turned-fugitive Carlos Ghosn, and which new managers at both firms are trying to get on track.

They face stiff competition from the likes of Volkswagen in the race to produce cleaner, electric vehicles at an appealing price for consumers. Their German rival is planning to build six battery factories in Europe alone by 2030.

De Meo said on Tuesday that Renault and Nissan were cooperating closely on production and sourcing components.

“We are making a lot of decisions to communalise things… battery modules for example is one of the things we’re discussing right now,” De Meo added.

Both firms are still straining to deliver on their own turnaround plans, and Nissan on Tuesday posted a record annual loss, triggered in part by the COVID-19 pandemic. That will drag on earnings at Renault, which has a stake in the firm.

Renault shares were down 4.8% at 0944GMT.

(Reporting by Gilles Guillaume and Sarah White, editing by Estelle Shirbon)

Image Credit: Reuters

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Source: https://datafloq.com/read/renault-nissan-looking-savings-batteries-de-meo/14573

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Renault, Nissan looking for more savings on batteries – De Meo

Avatar

Published

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PARIS (Reuters) – French carmaker Renault and its Japanese alliance partner Nissan are in talks to collaborate more and improve the savings they can derive from using the same battery technology, Renault Chief Executive Luca de Meo said on Tuesday.

Batteries are one of the costliest aspects of developing electric cars, at a time when auto groups are racing to pull ahead in this segment. For Renault and Nissan, it has also long been one of the weaker points of a partnership stretching back over 20 years, with each sourcing batteries in different ways, including from South Korea’s LG for the French firm.

“If we manage to come up with a very synergetic approach on batteries, the alliance will probably be one of the first to cross the threshold of a million cars sold on the same battery module,” De Meo told a Financial Times car conference.

Collaborating on battery technology will be a big test of the future of the Renault-Nissan alliance, shaken by the 2018 arrest of its architect-turned-fugitive Carlos Ghosn, and which new managers at both firms are trying to get on track.

They face stiff competition from the likes of Volkswagen in the race to produce cleaner, electric vehicles at an appealing price for consumers. Their German rival is planning to build six battery factories in Europe alone by 2030.

De Meo said on Tuesday that Renault and Nissan were cooperating closely on production and sourcing components.

“We are making a lot of decisions to communalise things… battery modules for example is one of the things we’re discussing right now,” De Meo added.

Both firms are still straining to deliver on their own turnaround plans, and Nissan on Tuesday posted a record annual loss, triggered in part by the COVID-19 pandemic. That will drag on earnings at Renault, which has a stake in the firm.

Renault shares were down 4.8% at 0944GMT.

(Reporting by Gilles Guillaume and Sarah White, editing by Estelle Shirbon)

Image Credit: Reuters

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Source: https://datafloq.com/read/renault-nissan-looking-savings-batteries-de-meo/14573

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