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AI

Change Agents Creating Greater Diversity in AI — June 12 | Event

By | Events

FDM Group and BCSWomen are hosting this evening event that will address the responsibilities employers have to ensure teams and technologies reflect the society in which we live. Join to hear about the impact that the AI diversity crisis is having on the sector and hear from influential leaders to find out how to enhance diversity across tech teams.

Sarah Burnett, Executive Vice President and Distinguished Analyst, Everest Group, will serve as one of the distinguished panelists.

When

17:30 – 19:30 BST, Wednesday, June 12, 2019

Where

London

Speaker

Sarah Burnett, Executive Vice President and Distinguished Analyst

Learn more about the event

RPA Vendor WorkFusion Looks to Drive Smarter AI | In the News

By | In The News

Robotic process automation [RPA] vendor WorkFusion is looking to capitalize on the strong momentum in the sector, with a major new product release and a favorable new analyst report.

New York City-based WorkFusion is one of the top players in the RPA space, which is booming. A new report from Zinnow on the RPA market reported that the total worldwide addressable market is $50 billion, with enterprise spend predicted to grow at a 37 per cent rate. Forrester Research, one of the analyst firms who specialize in the area, scored WorkFusion as a strong performer in their 2018 report, behind UIPath, Automation Anywhere, and Blue Prism. WorkFusion also scores very highly in a 2019 report by Everest Group, another analyst firm with a strong focus on RPA. The Everest Group report on a sub-space, Intelligent Document Processing [IDP], defined as a software solution that captures data from documents and categorizes and extracts relevant data for AI processing, ranked WorkFusion in the leader section, with the highest score in vision and capability.

Read more in Channelbuzz

IQ Bot Enhances Cognitive Automation Technologies: View | In the News

By | In The News

There’s no doubt that Robotic Process Automation (RPA) is here to stay. It is leading to the increase of a global digital workforce in every industry. However, traditional automation is not yet 100 percent capable of accessing all company data and information. Much of this information is stored in old-fashioned formats, so human intervention is necessary to make sense of this ‘dark data’ and then feed it into a RPA workflow. In a sense, the digital workforce still requires a helping human hand.

This white paper by the Everest Group highlights the importance of maturing digital workforces merged with AI. In most cases, this means implementing AI into the process at some stage. IQ Bot is one of the simplest ways to get started on your AI automation journey and there are many success stories to draw inspiration from.

Read more in Economic Times

Medidata Launches Acorn AI | In the News

By | In The News

The company is designed to answer the most important questions across R&D and commercialisation, enabling customers to improve outcomes for patients and to accelerate growth, and will be led by industry veterans who are shaping the future of life sciences.

“Life science firms are looking at data-centric and AI-based business models to revamp functions, such as drug discovery, R&D, clinical trials, and commercial operations, to cater to an evolving patient profile, a converging ecosystem, and emerging therapy areas”, said Nitish Mittal, practice director at Everest Group.

Read more in PharmaTimes

Three Digital Healthcare Takeaways from HIMSS 2019 | Blog

By | Blog, Healthcare & Life Sciences

I experienced three pleasant surprises at last week’s Healthcare Information and Management System Society (HIMSS) conference. They were all about a perfect storm that is building to correct all that has been wrong in the digital healthcare space all these years.

Healthcare Companies are Exploring Cures for Their #DigitalHeadache

Payers and providers alike are growing increasingly disillusioned with the outcomes of their digital programs. In fact, 78 percent of the healthcare leaders we surveyed in late 2018 indicated some sort of failure with their digital initiatives, whether big or small. The good news here is that most forward-thinking leaders are going back to the drawing board to redefine their digital strategy. Anthem, Intermountain Healthcare, and New York Presbyterian are great examples of organizations that have taken up the cudgels to fix digital healthcare where it fails – organization and culture.

There’s Increased Focus on “Enabling” the Patient Experience

To make the “patient experience” successful, enterprise leaders are taking a step back and focusing their attention on creating experiences for their workforce, clinicians, and partners (e.g., physician group, CMS, government agencies.) Don’t get me wrong, patients still need to be at the center of our universe. However, the personas that enable and deliver experience for patients need a fix first.

Innovation is Coming from Unexpected Sources

It was heartening to see the likes of Amazon, Google, Microsoft, and Salesforce steal the march from the big boys in the healthcare tech space – i.e., Cerner and EPIC – in asserting themselves as the technology visionaries in healthcare. Their focus on healthcare microservices is a relief for healthcare executives trying to navigate the “all or nothing” approach of the EMRs.

There is one player that seems keen on reinventing itself: Optum. Through a nimble product and services strategy, Optum is touching upon on all the hot buttons – MLR, analytics, PBM, and claims. Optum is the specialist vendor to watch out for when it comes to healthcare.

Last, but not least, what really took the cake were the innovative and exciting POCs related to clinical AI and visualization that Israel and Ireland – yes, the countries – showcased in their booths. These were some of the most fully baked solutions that I have seen in my 10 years attending HIMSS.

Hence, it’s with good reason that I left fairly impressed with the developing ecosystem knocking on the doors of healthcare organizations that are hungry for outcomes.

I will sign off by sharing an illustration from our recent study that analyzed the investments 27 of the leading healthcare payers and providers have made in artificial intelligence (AI), a key marker in the world of digital healthcare. This study objectively analyzed these investments from the perspective of ROI achieved.

Assessing 27 healthcare players (payers and providers) on their Artificial Intelligence investments

As you can see, there is a wide variance even within such a small sample set of healthcare organizations. FOMO (Fear Of Missing Out) pushed a lot of organizations to invest in the flashy new toy called AI. However, not all of them embarked on their investment journey by first enabling the core components of capability.

The difference between the best and the rest in healthcare is simply this: the ones to get the best ROI – those on the top right – are taking their journey through step functions that enable not only technology but also an organizational culture of innovation.

Please contact me at [email protected] if you’d like to hear more about my take-aways from the HIMMS conference or our study, named “Dr. Robot Will See You Now: Unpacking the State of Artificial Intelligence in Healthcare – 2019.”

 

Stop Trivializing AI: It Is Not Just Automation | Blog

By | Automation/RPA/AI, Blog

AI is certainly being used to attempt to solve many of the world’s big problems, such as health treatment, societal security, and the water shortage crisis. But Everest Group research suggests that 53 percent of enterprises do not – or are not able to – differentiate between AI and intelligent automation and what they can do to help them compete and grow. This trivialization of AI is both eye opening and frustrating.

While it’s true that automation of back-office services is one strong case for AI adoption, there are many more that can deliver considerable value to enterprises. Examples we’ve researched and written about in the past year include intelligent architecture, front-to-back office transformation, talent strategies, and AI in SDLC.

It’s been said that “audacious goals create progress.”  So, how should enterprises think more creatively and aspirationally in their leverage of artificial intelligence to extract real value? There are three ingredients to success.

Think Beyond Efficiency

Enterprises are experimenting with AI-driven IT infrastructure, applications, and business services to enhance the operational efficiency of their internal operations. We have extensively written about how AI-led automation can drive 10-20 percent more savings over traditional models. But enterprises have far more to gain by experimenting with AI to fundamentally transform the entire landscape, including product design customer experience, employee engagement, and stakeholder management.

Think Beyond CX

Most enterprises are confusing putting bots in their contact center with AI adoption. We discussed in an earlier post that enterprises need to get over  their CX fixation and drive an ecosystem experience with AI at the core. Our research suggests that while 63 percent of enterprises rank CX improvement as one of their top three expectations of artificial intelligence, only 43 percent put newer business model among their top three. We believe there are two factors behind this discouraging lack of aspiration: market hype-driven reality checks (which are largely untrue), and enterprises’ inability to truly grasp the power of AI.

Think Beyond Bots

While seemingly paradoxical, humans must be central to any AI adoption strategy. However, most enterprises believe bot adoption is core to their AI journey. Even within the “botsphere,” they narrow it down to Robotic Process Automation (RPA), which is just one small part of the broader ecosystem. At the same time, our research shows that 65 percent of enterprises believe that AI will not materially impact their employment numbers, and that bodes well for their realization of the importance of human involvement.

And, what do enterprises need to do?

Be Patient

Our research suggests that 84 percent of enterprises believe AI initiatives have a long gestation period, which undoubtedly leads to the business losing interest. However, given the nature of these technologies, enterprises need to become more patient in their ROI expectation from such initiatives. Though agility to drive quick business impact is welcome, a short-sighted approach may straight jacket initiatives to the lowest hanging fruits, where immediate ROI outweighs longer term business transformation.

Have Dedicated AI Teams

Enterprises need AI champions within each working unit, in appropriate size alignment. These champions should be tech savvy people who understand where the AI market is going, and are able to contextualize the impact to their business. This team needs to have evangelization experts in who can talk the language of technology as well as business.

Hold Technology Partners Accountable

Our research suggests that ~80 percent of enterprises believe their service partners lack the capabilities to truly leverage artificial intelligence for transformation. Most of the companies complained about the disconnect between the rapid development of AI technologies and the slowness of their service partners to adopt. Indeed, most of these partners sit on the fence waiting for the technologies to mature and become enterprise-grade. And by then, it is too late to help their clients gain first-mover advantage.

As AI technologies span their wings across different facets of our lives, enterprises will have to become more aspirational and demanding. They need to ask their service partners tough questions around AI initiatives. These questions need to go far beyond leveraging AI for automating mundane human tasks, and should focus on fundamentally transforming the business and even creating newer business models.

Let’s create audacious goals for artificial intelligence in enterprises.

What has been your experience adopting AI beyond mundane automation? Please share with me at [email protected].