Advanced Analytics and AI. Impact, Implementation, and the Future of Work. Wiley Finance

  • ID: 4435960
  • Book
  • 304 Pages
  • John Wiley and Sons Ltd
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Praise for
Advanced Analytics and AI

"There is no industry and profession which won′t be transformed by analytics and artificial intelligence in the years to come. If you don′t know where to start and learn about this topic, Tony Boobier′s new book is your indispensable guide which will take you through a journey made of changes but mostly great opportunities."
Paolo Sironi, IBM Academy member and Author; FinTech Thought Leader, Watson Financial Services

"If data is the new oil, then AI is the extraction mechanism fit for Industry 4.0. This book offers a thoughtful, timely and compelling overview of the myriad of possibilities brought to life by intelligent machines."
Dr Rachael Gore, Head of Engagement, Insurance Nexus

"AI is quite the buzz in today′s market landscape. However, the core of AI is the delivery of a quality insight to drive impactful business decisions. Written in an accessible and engaging style and aimed at the layperson, this book offers an insightful introduction to what it means to be an analytic driven enterprise how AI fits into the spectrum but most importantly the business outcomes an analytic backbone can deliver. A pragmatic step–by–step guide also ensures one is not overwhelmed and offers prescriptive guidance on how and where to start and how to measure impact."
Farhana Alarakhiya, Vice President – Products, RMS

"Tony′s extensively researched book gives the reader a bird′s eye glimpse into what a different place the world may be, sooner or later, thanks to analytics and AI. It makes for thought–provoking reading, irrespective of where the reader is in their career and analytics journey. Covering a broad range of topics that include training, implementation, leadership and personal development, Tony offers insight that one way or another almost all industry sectors and professions are likely to be affected. His knowledgeable words provide the reader with much food for thought and a timely opportunity to reflect on preparing for and tapping into the advancing world of analytics and AI."
Rachel Bolt, Consultant, Freeths LLP, Solicitors

"Analytics and AI in all industries and professions place new challenges on existing and future leaders who need to be aware not only of the background of change, but also the implications. This is a book which no executive can afford to be without."
Elizabeth Jenkins–Smalley, Editor–In–Chief, The Executive Magazine

"Advanced Analytics and Artificial Intelligence are expressions that have become part of our reality and everyone is talking about them while most of us know little of what they really mean. In this book, Tony Boobier not only explains both concepts in a clear, accessible way, but he also goes on to tell us how they will impact multiple industries and professions in the near to medium future, and ultimately our lives. From the first example of a possibly similar disruptive moment in history to a life with robots as caretakers and companions, Tony takes us on a journey from the past to the present, and finally to a dangerously close sci–fi future believe me, it′s a journey you should not miss."
Paula Rios, Executive Director, MDS Global Insurance and Risk Consultants

"With this engaging book, Tony has made an important contribution to the ongoing debate about AI and its impact on society. With clear definitions, he carefully steps us through the implications for different professions, potential risks and the future of work itself. His research and personal experience shine through the stories and case studies. Encouragingly, he does also have advice on new business models and personally preparing for this future. A must–read for leaders charged with helping guide their organisations through this revolution."
Paul Laughlin, Executive coach and trainer; Founder, CustomerInsightLeader.com and Laughlin Consultancy

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Acknowledgments

Preamble: Wellington and Waterloo

Introduction

Prologue: What Do We Mean by Work?

Summary

Introduction

Slavery or Freedom

The Rise of Industrialisation

Gen Z and the Flat White Society

The Impact of Unemployment

Replacing the Need to Work

Conclusion

Notes

1. Introduction to Analytics

Summary

Introduction

Business Intelligence

Advanced Analytics

Prescriptive Analytics

Business Rules

Cognitive Analytics

The Accuracy of Analytical Outputs

Conclusion

Notes

2. Artificial Intelligence

Summary

Introduction

The Turing Test

The Dartmouth Event

Post–Dartmouth, the AI Winter, and Singularity

Springtime for AI?

How Does AI Work?

Can Computers Be Creative?

Conclusion

Notes

3. The Impact of AI on Leading–Edge Industries

Summary

Introduction

Financial Services

Retail Banking

Commercial Banking

Investment Banking

Wealth Management

Insurance

Automobiles

AI Implementation Timeline

Key Developments

Innovating to Zero

AI and Motor Manufacturing

Media, Entertainment, and Telecom

Retail

Conclusion

Notes

4. The Impact of AI on Second–Mover Industries

Summary

Introduction

Construction

Augmented Reality

Drones and Remote Imagery

Contractor Plant and Equipment

Employee Behaviour

Cultural Change in Construction

Utilities and Infrastructure Resilience

Construction Industry Summary

Utilities

Electrical Power

Gas

Water

Wastewater

Smart Homes, Smart Infrastructure?

Interconnectivity, Poverty, and Famine

Public Services

Education

Policing

Health Care

Agriculture

Technology Industry

Conclusion

Notes

5. The Impact of AI on Professions

Summary

Introduction

Work and Professions

The Importance of Competences

The Morevec Paradox and Why It Threatens Professionals

Management

Office of Finance

Legal Profession

Sales and Marketing

Retailers

Commercial Media

Creative Arts

Publishing

Transportation

Digital Railways

Autonomous Flight and Virtual Pilots

Air Traffic Controllers

Engineers and the Built Environment

Building Engineers

Building Planners

Medical Profession

General Practitioners

Dentists

Neurosurgeons

Data Centres

Entrepreneurs

Conclusion

Notes

6. Risk and Regulation

Summary

Introduction

What Is Risk?

Technology and System Failures

Data Security and Privacy

Employee Error and Fraud

Inadequate or Failed Procedures, Systems, and Policies

Reputational Risk

External Risk

Financial Risk

AI and the Future of Compliance

Roles, RegTech, and Forgiving the Machine

Conclusion

Notes

7. Implementation Road Maps

Summary

Introduction

New Thinking on Employee Training

Robotics and Process Automation

Implementation Frameworks

Key Implementation Questions

Leadership and Sponsorship

Creating a Team

Finding Talent

Managing Progress

Human Resources Function

Alternative Spaces: The New Workplace

Timing: How Long to Implement?

Is Big Bang Transformation Possible?

Conclusion

Notes

8. New Business Models

Summary

Introduction

Augment or Automate?

Issues of Place and Time

Contextual Insight

Wordplay and Communication

New Business Models for New Markets

Conclusion

Notes

9. Coping with the Future

Summary

Introduction

Existing Roles in AI

Future Roles in AI

AI Education

Academic Education

On–the–Job Learning: Start–ups and Innovation Labs

Personal Capabilities for Success

Can Computers Innovate?

Living with Robots

Elderly Health Care and Robots

Taking Instructions and Advice from Computers

Rules for Robots

Conclusion

Notes

10. Strategies for Personal Reinvention

Summary

Introduction

The Need for Personal Reinvention

How Easy Is It to Change?

The Importance of Events and Conferences

The Freedom of Franchises ? from Employee to Owner

Can We Cope with Doing Nothing?

Third–Age Thinking

Conclusion

Notes

Appendices

Appendix A: Implementation Flowcharts

Appendix B: Jobs Most Affected by Artificial Intelligence

Appendix C: List of Professional AI Organisations

Appendix D: List of Tables

Appendix E: List of Figures

Index

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TONY BOOBIER is a former worldwide executive at IBM focusing on financial services. With over 30 years of experience, he is a frequent writer and international public speaker. He possesses a deep understanding of how to apply business intelligence and analytics to enhance the management and delivery of products and services in numerous industries. A recognised expert in customer analytics, risk and operational effectiveness, he′s a strong advocate for enterprise–wide analytics to improve service and reduce cost. A Fellow of the Chartered Institute of Civil Engineers and the Chartered Institute of Marketing, coupled with qualifications in insurance and supply chain management, he is also the author of Analytics for Insurance.

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