Of all the forms of human intellect that one might expect artificial intelligence to emulate, few people would likely place creativity at the top of their list. Creativity is wonderfully mysterious – and frustratingly fleeting. It defines us as human beings – and seemingly defies the cold logic that lies behind the silicon curtain of machines. Continue reading
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Digital transformation—often informally referred to as Industry 4.0 —. . . is and will continue to redefine the standards of competitiveness, performance, and, further, the minimal ability [of U.S. manufacturers] to participate in the market,” said Phil Centonze, managing partner, POS-IMPACT LLC (formerly director of performance assessment at FloridaMakes, the Manufacturing Extension Partnership (MEP) business management consulting center that serves organizations in the state of Florida). Continue reading
Patience is a virtue. Throughout much of childhood, our parents and guardians instilled in us to be patient or to wait calmly for our turn at something.
Having patience is an important characteristic in everyday life, but as an adult — especially if you are a business leader or C-suite executive — too often does the concept of patience become a hands-off defense mechanism used to fight discomfort in facing change. The mindset that surrounds this behavior is known as “wait and see,” where a company tries to simply wait out the storm of disruption patiently, hoping the status quo will remain intact after the clouds clear. Continue reading
In risk management there is a concept that will be useful for any business out there, it is called – EXPECTED LOSSES. This means that certain risks are inevitable and will occur no matter what. Stealing in retail, foreign exchange fluctuations or customer bad debts are all examples of losses that happen all the time. Some companies have more losses, others have less, but no company has zero risk. Continue reading
While I’ve written this post about compliance risks in the past, I later applied exactly the same math and logic to any non financial risk, including intellectual property, legal, environmental, ESG and most other risks you can think of. Follow this step by step guide to quantify most non financial risks or if you want to automate quantitative risk analysis use Archer Insight. Continue reading