Article | August 5, 2020
The quest for a magical cure-all is not new. In the days of the old west, a medicine wagon would roll into town, and a slick salesman would emerge, pitching his latest panacea, promising that his miracle elixir could treat anything from a hangnail to heart disease. The claims were alluring. But they were based on half-truths and exaggerations that exploited the desperation of settlers, some of whom were desperately ill, and others terrified at the thought of being unprepared for tragedy.
Article | August 5, 2020
Digital Transformation is not a magic wand; it is a complex yet essential enterprise commitment to change. Companies that have succeeded have reaped significant benefits. The Deloitte Digital Transformation Survey 2020 found that greater digital maturity is associated with better financial performance. The higher-maturity companies in this year’s sample were about 3X more likely than lower-maturity companies to report annual net revenue growth and net profit margins — a pattern that was consistent across industries.
Unfortunately, most enterprises do not fully appreciate what it entails. Some see it as a technology or a budget problem; others believe it is an optional strategy — they are both wrong. To truly succeed, transformation needs to be led from the top by setting the strategy and allocating resources. Antonio Neri of HPE hits the spot when he says, “Digital transformation is no longer an option for enterprises, but a strategic imperative.”
For me, one of the most significant examples of top-driven organisational change is Jeff Bezos’ call to “Rearchitecting the Firm” in 2002. It is a seminal work. The principles of this mandate went on to form the backbone of Amazon in the modern cloud world. It was clear, direct, and backed up by management action.
More than 75% of CEOs agreed that the pandemic sped up their companies’ transformation plans
COVID is a catalyst for change
The flurry of digital technology solutions spurred by COVID-19 presents a unique opportunity for enterprises to rethink how technology decisions are made and apply them in new and meaningful ways. Covid-19 dramatically accelerated technology adoption across all industries. According to a Fortune-Deloitte CEO survey and the KPMG 2020 CEO Outlook Survey, more than 75% of CEOs agreed that the pandemic sped up their companies’ transformation plans. As Microsoft CEO Satya Nadella noted, “We’ve seen two years’ worth of digital transformation in two months.”
80% of companies plan to accelerate their companies’ digital transformation plans, primarily incentivized by the global pandemic implications. The same study also concludes that only 30% of digital transformations have achieved their objectives which is troubling.
80% of companies plan to accelerate their companies’ digital transformation plans, however only 30% of digital transformations have achieved their objectives - BCG Research
Most people forget that digital transformation is less about technology and much more about the organization’s culture and business shift. Key stakeholders need to rethink customer experience, business models, and operations fundamentally. It is all about finding new ways to deliver value, generate revenue, improve efficiency, and, most importantly driving sustainable innovation. Bear in mind, just moving to the cloud is not Digital Transformation.
Crises Breed Innovation
I am of the firm belief that uncertainty drives creativity. Crises are the breeding ground for innovation. You must make decisions quickly, and you never have enough time or information to weigh difficult choices thoroughly.
McKinsey’s analysis shows that bold innovators emerge from crises substantially ahead of peers — and maintain this advantage for years to come. Innovators not only outperformed the market during the financial crisis but continued to widen the gap during and after the recovery. Analysis of the performance of approximately 2,000 companies between 2007 and 2017 against the S&P 500 reinforces those conclusions: staying focused on growth and innovation through a downturn helped the top-performing companies to generate higher returns to shareholders.
Staying focused on growth and innovation through a downturn helped the top-performing companies to generate higher returns to shareholders
Antonio Neri and other leaders confirm that as the pace of technology disruption continues to accelerate, digital-native and digitally transformed companies are outpacing their competitors.
The McKinsey study shows that roughly one in ten companies in their sample achieved higher revenue growth, innovation, digital adoption, and profitability than the others over the entire 2007–17 economic cycle and during the downturn years. The outperformers also delivered excess returns of roughly 8%, while the rest hovered around zero throughout the period.
So, what does it take to succeed?
Do existing leadership teams have the skills to undertake true digital transformation? I thought it would be a good idea to look at how companies are hiring critical resources. A study by professors from Harvard and Darden and executives from Spencer Stuart published in the Harvard Business Review addressed this specific question. The team looked at more than 100 search criteria for C-suite positions in Fortune 1000 companies across a broad range of industries, and the results were very suggestive.
There has been a rise in tech and digital expertise search even before the pandemic: 59% of executive searches included technological or digital knowledge. Company boards were asking for these skills across a wide variety of roles. This fact also suggests that people with the right skill sets are already in leadership positions. Not surprisingly, 100% of the specs for CIOs, CMOs, and CTOs sought technical or digital skills. However, the functions that got neglected in the search for technological and digital expertise were more revealing. Less than a third of the job specs for CHROs and chief accounting officers mentioned these required skills. Even more worrying — only 40–60% of searches for roles such as CEO, board director, and CFOs required digital know-how.
At the very minimum, we need all leaders to understand how to build digital businesses. This shift alone could be the difference between success and failure.
But is that enough for now?
Almost every organization has stepped up its digital transformation efforts in 2020–21. Success is as much about the right technology platform choice as it is about leadership, agility, talent, and a clear vision. A new and emerging factor is consumers wanting the brands they use to focus on sustainability issues. So do employees and prospective employees. The driver for this shift largely springs from realizing that human activities’ ecological footprint is a probable cause for the crisis we face today.
While we keep talking about the usual polluters like utilities, transportation, agriculture, and climate change causes, some lesser-discussed and more exciting facts would make the issue more relatable.
Did you know that in processing 3.5 billion searches a day, Google accounts for about 40% of the internet’s carbon footprint? They have been carbon neutral since 2007, but their infrastructure still emits a considerable volume of CO2.
Did you know that Bitcoin currently uses enough power (121 terawatt-hours) to run Cambridge University for almost 700 years?
To address sustainability in a meaningful manner, we need to take a holistic view of the players, their impact and then push for a mutually beneficial solution . Else, it is bound to fail.
As a first step, 26 CEOs of Europe-based companies have signed a Declaration to support Green and Digital Transformation of the EU. They formed a European Green Digital Coalition, committing on behalf of their companies to not only make the tech sector to become more sustainable, circular, and a zero polluter but also to support sustainability goals of other priority sectors such as energy, transport, agriculture, and construction while contributing to an innovative, inclusive and resilient society.
Like these CEOs, Accenture also believes that there is great value at the intersection of digital technologies and sustainability — they call it Twin Transformers. Companies leveraging both are 2.5X more likely to be among tomorrow’s strongest-performing businesses than others.
BigTech is conscious of its responsibilities to the climate. Almost all majors players have made pledges to reverse CO2 emission. Since they are all profit-driven, I am sure they have also figured out this also means good business by the numbers too (a counter-intuitive rationalisation but better than getting caught in the justification game)
In the future, a company’s commitment to ESG-related programs will drive the ability to attract investors and retain talent. Companies also realize that ESG factors, when integrated into strategic digital transformation decisions, may offer potential long-term performance advantages. One of the critical levers for moving to sustainable systems will be technology, a lot of technology, and a lot of investment. But how do we make it accessible to all and profitable to the providers at the same time?
HPE is one company that has made significant strides in this regard by embracing the twin doctrine of digital transformation and sustainability. Their customers can reduce their energy costs by more than 30% by eliminating overprovisioning through HPE GreenLake. In fact, their consumption-based offerings have reduced customer carbon footprint by 50% in one case. Minimizing e-waste is another area of focus for them too.
So what have we learned from all this? As an ancient Chinese proverb states, “When the winds of change blow, some people build walls, others build windmills.”
What will you build?
Article | August 5, 2020
The NISI Group (NISI) is a medical technology business headquartered in Hong Kong, specializing in the development, manufacture, and sales of innovative surgical and diagnostic products. Its corporate mission is to become a world leader in noninvasive surgical innovations.NISI first used an NVIDIA DGX-1 as a high-performance computing node to help with its survey of research courses. Because the initial training dataset was not large, the simulation was done entirely on the NVIDIA DGX-1. However, NISI was collecting more labeled medical images for training its new network and sourcing data from several hospitals and clinical centers, and its data volumes were growing exponentially.
Article | August 5, 2020
The content market industry is growing rapidly. The US spent almost $10 billion on content in 2016. And with the merge of technology and content, this figure has multiplied several times. As a result, humans can concentrate on creativity while machines assist them in beautifying their work.
The machines that we are going to talk about are AI-driven content marketing platforms for content creation, curation, and distribution. We will also let you know whether the world of writers is going to be extinguished or not!
Content creation needs to be unique. There are numerous articles, blogs, listicles, etc., written on the same topic. So what do you need to do to make your content stand out? You might be thinking of SEO, personalization, target audience, and error-free content. But when all this is carried out manually, it turns out to be a daunting task.
What if we tell you that the AI industry has revolutionized the content sector. Machines assist in content creation, curation, personalization, prediction, SEO analysis, keyword search, and everything you can think of.
What is AI Content Creation?
More than 2.5 quintillion bytes of data are created every day! Imagine the uniqueness your content needs to define to stay ahead in the race. The competition is unbelievable! This is where AI and automation meet content marketing.
AI content creation helps to create, polish, personalize, distribute, and market user-centric content. AI uses predictive analysis, natural language process (NLP), natural language generation (NLG), and business intelligence to understand a buyer’s journey.
AI helps in creating an efficient content strategy for the writers. It also assists them in using the right keywords and publishing on the right platforms. Moreover, content that is checked by the AI content creation algorithm has the least or no possibilities of errors.
Below are the benefits of AI content creation and how it plays a significant role in shaping the future of content writing.
Benefits of AI content creation
Predictive Intelligence is predicting the customer’s behavior and serving them precisely what they are looking for. It also helps the buyer to navigate to the things exclusive based on their browsing patterns.
For example, if a customer is looking for casual shoes and has put the chosen ones in the cart, the AI-powered algorithm will suggest some socks to go with the shoes. The algorithm is designed so that based on the shoe size, color, and brand, it suggests the best pair of socks!
And when this role is played in content creation, predictive intelligence suggests words, sentences, synonyms to create excellent content.
When you have a process that foretells you the buyer’s journey, it becomes easy to create personalized content and yield the best results.
A study has proved that 90% of the customers get converted based on personalized AI content. AI-driven content marketing tools help gather all the customer's activity online and then give them the relevant suggestions.
AI content creation tools compare your content with the competitor’s content and your previous works and performances. Based on that, it predicts the content to be framed. Finally, it recommends words and phrases to frame innovative, data-driven content.
AI content creation helps in increasing your brand value and reach your target audience effortlessly.
Chatbots for Customer Service
Chatbots as customer service representatives are immensely successful. Chatbots are like a virtual friend that meets the customer. They not only provide information but also interact with the customers for fun.
Chatbots are trained to have a conversation just like humans. They ask about feelings and then have a one-to-one conversation about ways to feel better.
For example, when a chatbot is used to book a test drive for a car, it notes the personal details and saves the date for the concerned person and the customer on the calendar. That is pretty much robotic. But in the end, it tells you to have a pleasant drive and not to forget to wear your seatbelt! This is where it connects with the customer.
Thus, chatbots can help promote content, navigate customers to the correct pages, and are more likely to fulfill the conversion goal.
Examples of AI Content Creation Applications
Twinword is one of the examples of AI-powered keyword research tools. It speeds up the keyword research process and provides the most curated list of LSI, long-tail, short-tail keywords. It understands the customer’s intent and provides you with the target keywords.
It is one of the Automated AI Content tools used to write articles, blogs, and other relevant content. It has been said to deliver content with the most competitive keywords and a proper understanding of the industry dynamics. In addition, it creates high-quality content which is almost 90% unique.
The AI-powered tool does more than grammar checks. It checks your article's tone and gives you options to improve or change words, sentences, length, etc., according to the audience. It frames sentences, gives synonyms, and also creates your writing graph. It shows how your writing has evolved with time and keeps on assisting to improve your writing. This is one AI tool that has been widely used by writers and is a proven success.
This tool analyses your content and makes it ready for the competitive market. It minutely analyses your content for SEO and content research and gives appropriate suggestions for keywords and content optimization. It also has a keen eye on keyword intensity. Thus, it is the best tool to automate content marketing and keep you ahead of the race!
This tool provides excellent AI Content and User Experiences across multiple platforms. It tracks the buyer’s journey, analyses the user’s behavior on your website, and then automates a personalized experience for the customer. In addition, it generates e-mails and newsletters for the customers for an enriched experience. All the content generation is very personalized and connects readily with the target audience!
These are some of the content creation services for optimization, creation, and keyword research. But there is a plethora of AI in content marketing and automated tools for content creation to choose from!
Will AI replace human writers?
No. AI content creation is still in the infancy phase. It can create newsletters, small articles, or emails but not valuable content like humans. However, there are AI content creation tools that are said to write almost 800 articles in a year. So if you are looking only at content generation, then yes, AI performs a better job than humans.
But can machines feel and express the emotions that humans do? No matter how many trillions of words they have fed themselves, expressing emotions with the right words is still a human thing. Likewise, there are stats to prove that humans tend to take action when they feel emotionally connected. And we all know machines are practical beings!
So as long as humans are social and emotional, there is no way that AI and automation can replace writers now or in the long run. It can assist humans in writing better quality, personalized and well-researched content, but never replace them.
If you still have second doubts, think, did the invention of smartphones with excellent cameras, photo studios, or design studio apps like Adobe photoshop replace photographers?
So relax, use AI and automation to minimize your efforts, gather data, and give you a piece of structured and well-researched content. Then use your creativity skills and enhance them by giving the human touch because that is what only a human brain can do!
Frequently Asked Questions
What is AI in content creation?
AI is automated Insights in content creation. It helps optimize the written content according to the target audience. It uses Natural Language Generation (NLG) to create content and narratives. In addition, it can automate repetitive tasks. Once AI creates the content, a human writer can enhance and personalize it accordingly.
How does AI help in content creation?
AI provides an in-depth analysis of the content, website, and target audience. Based on this research, creates and suggests changes in the content. This in-depth research of AI helps deliver valuable and personalized content to the target audience with the right set of keywords.
How do you automate content creation?
Content creation can be automated with the use of automation tools. These tools recommend the topic, keyword, and tone of the article to be written. In addition, they assist the writer with the correct grammar, synonyms, and keyword predictions. If it is a technical article, the automated tool can write the entire article with no errors. Examples of such tools are Articoolo, Grammarly, Onespot, etc.
"name": "What is AI in content creation?",
"text": "AI is automated Insights in content creation. It helps optimize the written content according to the target audience. It uses Natural Language Generation (NLG) to create content and narratives. In addition, it can automate repetitive tasks. Once AI creates the content, a human writer can enhance and personalize it accordingly."
"name": "How does AI help in content creation?",
"text": "AI provides an in-depth analysis of the content, website, and target audience. Based on this research, creates and suggests changes in the content. This in-depth research of AI helps deliver valuable and personalized content to the target audience with the right set of keywords."
"name": "How do you automate content creation?",
"text": "Content creation can be automated with the use of automation tools. These tools recommend the topic, keyword, and tone of the article to be written. In addition, they assist the writer with the correct grammar, synonyms, and keyword predictions. If it is a technical article, the automated tool can write the entire article with no errors. Examples of such tools are Articoolo, Grammarly, Onespot, etc."