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        Flexibility is the biggest selling point that we have over our larger rivals. We give our clients the freedom needed to thrive in today’s fast-paced business world, organisations say to us that they often see higher quality work from independent consultants like us, this reason is the primary motivator when choosing us over a big firm. This means that we have the same skills and experience as the big firms, with added freedom and flexibility to let us focus and resolve client requirements.

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        Got early access Alpha to GPT4

        Chatgpt moving well , search is getting better, Google still being the leader in AI, should be very careful, the new version will hurt them:

        Here is why Google should be careful , 4 reasons

        1- With Alpha mode, Web Browsing with GPT-4 is OpenAI's most advanced model, gives ChatGPT real-time data access to the web.

        2- Provides stock analysis

        3- You can ask it for reviews for products you planned to purchase or you want to buy

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        Will AI replace jobs

        The AI language model, has to be viewed as the internet in the 1990s and the mobile in the 2000s but I can tell you that AI has the potential to automate some of the work that is currently done by people. It's crucial to remember nevertheless that not all jobs are equally vulnerable to automation. Most jobs will have it as an assistant.

        There are some jobs that are less likely to be mechanised in the near future, such as those that demand creativity, critical thinking, emotional intelligence, and interpersonal skills.Yet, positions that require manual work, data processing, and repetitive operations are more likely to be mechanised.

        It's also crucial to remember that while AI can automate some tasks, it cannot take the place of human abilities and traits like empathy, adaptability, and decision-making that are crucial in many professions. Jobs in complex decision-making, problem-solving, and communication skills are required for these positions, which are challenging for computers to mimic and wont be able to be automated. For most the answer is NO, AI wont replace your job.

        2023 - 5 trends with financial institutions

         

        In 2023, if i had a crystal ball, I believe the following trends will become main themes within north american financial institutions:

        1. Increase mobile banking capabilities: Banks should continue to invest in technologies to improve the customer experience on mobile devices. This could include new payment systems, improved security measures and customised experiences for each customer.

        2. Develop AI-driven solutions: Banks can use artificial intelligence to automate mundane tasks and provide more personalised customer service. AI can also be used to detect fraud, improve customer experience, and even predict customer behaviour.

        3. Leverage blockchain technology: Blockchain technology can help banks reduce costs, increase efficiency, and improve security. Banks can use it to develop new services, such as digital asset management, and establish distributed networks to streamline processes.

        4. Introduce open banking: Open banking allows customers to securely share their financial data with third-party providers, such as financial advisors, lenders, and insurers. Banks should look to partner with these organisations to provide more personalised services to their customers.

        5. Utilise digital currencies: Digital currencies are becoming increasingly popular, and banks should look to leverage this technology to offer a more convenient way to send and receive payments. Banks should also look to develop their own digital currencies, and explore the potential of using them to facilitate international payments.

        This will be my last post of the year, Merry Christmas to all and wish everyone a 2023 filled with happiness, health and success.

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  • Industry Classification: Is It Outdated? in Today’s Economy

Industry Classification: Is It Outdated? in Today’s Economy

by Alex Antonatos
on 19 October 2018

If you were asked to define what industry some of the world’s most valuable companies fall into, how would you do it? Let’s look at Google, for example. At first, you may think it’s obvious that it could be considered a part of the information technology industry. But what about the fact that most of their revenue comes from advertising? Does that make them more of a media company instead? Or, let’s consider Amazon. Yes, they are certainly defined as a retailer, but they are also a big player in the Technology sector. 

The reality is that the systems we’ve used to define the companies of yesterday aren’t necessarily working in defining the companies of today. Now, that’s not due to the lack of variety in available industry classes, but rather that today’s companies transcend more just one industry as technology plays more of a role in how businesses function today. But these classifications are more than just a definition. They’re a means of grouping similar companies together in a way that allows insiders and outsiders to compare those that are most successful amongst others in their same category. In many cases, it’s not a fair comparison. 

How We Classify Industries Today

The Global Industry Classification Standard (GICS) is the most widely used system in the global financial community for categorizing public companies. As of this year, there are 11 different sectors companies can be classified into. These are:

·     Energy

·     Materials

·     Industrials

·     Consumer Discretionary

·     Consumer Staples

·     Health Care

·     Financials

·     Information Technology

·     Telecommunication Services

·     Utilities

·     Real Estate

Until recently, this classification system was fairly effective given that most companies operated mainly in their specific niche. But with the rise of technology and a growing global economy, more companies—particularly those that are most successful—are starting to encompass more than just one of the sectors listed above. And that means that within each industry class, it can seem like apples are being compared to oranges. 

How Companies Should Be Classified in the Future

With the ever-changing nature of today’s companies, it makes sense that we should start defining them less by one vertical industry and more by business model instead. Rather than assigning companies to one particular sector—when it’s likely that they span over more than one sector—we should be defining them by how they operate. For example:

·     Service providers – these companies primarily offer a service performed by people to other people

·     Asset builders – these companies make and sell physical goods

·     Technology creators – These companies are in the business of creating and delivering software and data

·     Network orchestrators – these companies facilitate interactions and transactions between other people and businesses within a network 

Using classifications based more on business model means that in many cases, it allows for a more equal comparison of similar companies, rather than putting companies in the same sector classification when only one portion of their business model is similar. 

As a society and global economy, we’ve all become fixated on learning within the several years. With the world changing as rapidly as it is, everyone—both individuals and businesses—needs to constantly learn and adapt to keep up with the market we work in. This is a big factor in achieving success. But interestingly enough, with this outdated system has it all backwards. It’s not necessarily the learning that presents the challenge. Rather, it’s our ability to unlearn that’s holding many of us back. The faster we can realize the need to let go of ineffective systems, practices, and methods of the past, the more productive we can be in the future. 

*Originaly published on linkedin on Sep.12

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