Katie King, Managing Director - Zoodikers
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The document discusses the ongoing digital disruption and its implications for leaders, especially Chief Procurement Officers (CPOs), emphasizing the necessity for adaptation in the workforce due to the rise of AI and automation. It highlights the lack of preparedness among business leaders to handle a digitized workforce and posits that AI will transform various sectors, including retail, banking, and sales. The text also suggests actionable strategies for businesses to thrive amidst technological change, such as redefining roles and fostering a culture of innovation.
Katie King, Managing Director - Zoodikers
- 1. Digital Disruption – the next wave How prepared are CPOs - and their fellow board members - to deal with the next wave of digital disruption?
- 2. Introduction: @katieeking Managing Director of Zoodikers Consulting. MBA Director of Transformation – Digital Leadership Associates Co-founder of AI in FM TEDx speaker Chairperson of PRCA’s South East/E.Anglia Group Regularly called on to commentate on social media for BBC TV and radio Spoken and moderated at high-profile industry events 2
- 4. 4 Smartphones and social channels have fundamentally changed the way we buy, sell, recruit and communicate
- 5. 2017 Internet, social and mobile data for the UK 5
- 6. 6 We’re living in a world where traditional salespeople could become obsolete if they don’t evolve
- 7. There is no longer room for business silos 7
- 9. Welcome to the 4th Industrial Revolution 9
- 10. Deloitte: many leaders unprepared to deal with future of work Deloitte's latest Human Capital Trends report: many leaders unprepared to deal with the future of work. The UK’s HR and business leaders are not prepared to manage a digitised workforce. Just 16% of leaders feel ready to manage a workforce consisting of both people and artificial intelligence (AI). This is despite the implementation of robotics and AI in many of the businesses surveyed. Of the leaders that responded, 42% said robotics, cognitive and AI technologies were already in operation in their workplaces. Anne-Marie Malley, UK human capital leader at Deloitte, said organisations needed to prepare themselves for the workplace of the future. “Technology is advancing at an unprecedented rate and is rewriting the rules of work,” she added. 10
- 11. Industry analyst Gartner’s predictions Smart machine technologies will be the most disruptive class of technologies over the next 10 years, including smart robots, autonomous cars and smart workplaces. 11
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- 13. James Dyson Interview in The Times Plans for a new university £2.5bn investment in AI, robotics and battery technology that he hopes will propel his firm into pole position in “the fourth industrial revolution” Help to make post-Brexit Britain as innovative and fast- growing as the “tiger” economies of Asia 13
- 14. AI is here today 14
- 15. AI is here today When Facebook shows me ‘relevant’ posts When Google auto-suggests search entries Apple Siri – voice activation. She uses machine-learning technology to get smarter and better able to predict and understand our natural-language questions and requests Tesla self-driving cars 15
- 16. AI chatbots: the next shift in customer service According to IBM, 65 percent of millennials prefer interacting with bots to talking to live agents The rising popularity of mobile messaging apps and the need for 24/7 service has made chatbots a hit with the e-tailers. Brands are using chatbots for improving customer experience, to offer recommendations and services, and to automate the purchase process The most popular chatbot platforms include Facebook Messenger, WhatsApp, WeChat, and Slack. Top brands like Uber and Burberry have been successfully engaging and acquiring new customers with one-to-one chat experience using chatbots 16
- 17. The changing face of retail Retail management survey: 45% of retailers intend to begin using AI within three years to enhance the customer experience What if real-time weather data, footfall and sales were used to merchandise a store each day. Could positions in the store be formalised in the data set, too? Could store tracking be used to analyse where people are browsing, and then add this into the mix, too? 17
- 18. Accenture: AI and financial services 18 AI will be the main way that banks interact with their customers within the next three years. Banks such as RBS are increasingly using chatbots to answer customer queries. Many, perhaps ironically, felt that AI would help banks create a more human-like customer experience. "The big paradox here is that people think technology will lead to banking becoming more and more automated and less and less personalised, but what we've seen coming through here is the view that technology will actually help banking become a lot more personalised," said Alan McIntyre, head of the Accenture's banking practice
- 19. AI’s impact on procurement: augment, not replace CBR Magazine: The development of big data has the potential to transform predictive algorithms from useful add-ons to essential tools. With the combination of big data and advanced algorithms, the buyer could take on a more advanced role in risk management, using AI-powered data to carry out more intelligent supplier audits. Using AI would also allow for real-time monitoring of all suppliers and not simply monthly, quarterly, or annual reviews limited to top suppliers only as is often the case in global businesses. Procurement has a bright future. Rather than anticipating a hostile takeover from the machines, procurement professionals should invest time in familiarising themselves with the technologies of tomorrow. AI, big data and new forms of production will lead to a greater diversity of roles and responsibilities. Moreover, improved access to key supply chain intelligence will put procurement professionals in a better position to advise key operational functions. 19
- 20. AI’s impact on procurement: augment, not replace One technology promising to revolutionise both the production and procurement process is 3D printing. In the future, anything a company can print by themselves on a 3D printer will no longer need to be externally procured. Analysts expect that the current global market for printers, materials and services of 5.2 billion USD in 2015 will grow to $20.2 billion by 2019. Buyers of the future will therefore not be responsible for procuring spare parts but also bulk materials for their 3D printing systems. 20
- 21. AI’s impact on sales and marketing AI for CRM will be the game changer in the way you do business with your customers. It will empower your employees with super human skills, they will never forget to act on that promise They will always impress your customer with pro-actively contacting them with a potential product issue and they will offer you exactly the products and services they were looking for at the right moment in time 21
- 22. 22 80% of marketing leaders say AI will revolutionise marketing by 2020 But only… AI’s impact on sales and marketing
- 23. AI’s impact on HR A survey of HR executives by IBM found that 46% believe AI will transform their talent acquisition capability and 49% believe it will transform their payroll and benefits administration Views of 10 HR leaders: 1. AI will automate screening and reduce bias 2. AI will reduce errors and improve compliance 3. AI will augment corporate training 4. AI will increase adoption of metrics and analytics 5. AI will enhance candidate assessment 6. AI will automate candidate outreach 7. AI will streamline employee onboarding 8. AI will improve workplace learning 9. AI will reveal new insights on talent 10.AI will show the value of the human touch 23
- 24. How can you prepare? The right mindset Clear mid and long term business strategy Control your own agenda Training: closing the skills gap Hiring/attracting the right people Social Selling Funding: e.g. Innovate UK or Crowdfunding Evaluating Staying safe 24
- 25. 25 Social Business: Our 6 point plan to ensure success: 1. Plan and segment your audience 2. Find the right channel 3. Devise a social media strategy 4. Build profile and differentiate 5. Nurture relationships 6. Encourage them to buy
- 26. 26 1. Marketing segmentation Your audiences Business objectives Marketing objectives Perceptions to create in 3, 6, 9 months Messages to convey INFLUENCE THEM Existing customers Retention and cross selling Increase value Communicate NPDs and wider range Twitter/ LinkedIn PR Blogs Networking Practitioners Secure new partnerships Educate LinkedIn groups Case studies Social media Awards Potential customers Attract new and repeat custom Educate Webinars Newsletters Social media
- 27. 27 2. Find the right channel Your audiences What do they read? Which social platforms? Groups on LinkedIn Events Key topics of interest Existing customers Practitioners Potential customers We will work with you to complete our influencer matrix in month one
- 28. A few words about millennials; today’s customers are in charge Millennials are one of the largest generations in history and are about to move into their prime spending years How is this digitally-savvy tribe any different from other generations? For starters, they want more. And they want it now. As consumers, they are used to compelling content and intense experiences. They expect instant replies, casual exchanges, and personalized approach. Anytime, anywhere. They trust existing instant messaging platforms. 28
- 30. Let AI do the grunt work 30 It’s estimated that the average B2B sales rep spends one-third of their work day actually selling. AI frees sales reps to spend more time selling. AI brings leverage to the sales professional. Any task that can be done by following a template today can be done by a machine tomorrow. When AI is applied in a meaningful way, sales agents free up time for the high-leverage, non-linear aspects of their job: selling and communicating with potential customers, negotiating and strategizing how they will close key deals.
- 31. 31 Hawking; humans must colonise another planet within 100 years
- 33. Thank you for your time @katieeking www.zoodikers.com
Editor's Notes
- #6: http://www.smartinsights.com/social-media-marketing/social-media-strategy/new-global-social-media-research/