AMISEQ’s Post

BY MCKINSEY & COMPANY: Managing the risks and returns of intelligent automation! As companies accelerate the adoption of automation and artificial intelligence, they need a better way to maximize the benefits of these new technologies while minimizing the risks. The COVID-19 pandemic has pushed business digitization into overdrive. In surveys of top executives, more than two-thirds say their companies have accelerated their adoption of digitization and automation since the onset of the crisis (Exhibit 1). Many institutions (including banks, insurance companies, and other large corporate enterprises) are therefore deploying automation and AI solutions—a combination increasingly called “intelligent automation”—to optimize end-to-end business processes, automating not only tactical activities but also more complex prediction problems and decision making. Exhibit 1 We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com Intelligent-automation solutions can help to achieve efficiency and effectiveness gains, and support decision making by extracting new insights from complex data. But, as with other forms of AI, they can also increase risks for the business and lead to increased scrutiny by regulators: these tools and technologies could ultimately affect the delivery of critical business services to the surrounding ecosystem. AI’s risks stem from many sources. Among the most important are potential breaches of data-privacy rules in the development of models; a lack of transparency around how these systems work, with the risk that flaws in model design or training-data selection may introduce errors, unfairness, or bias; and new cybersecurity risks such as model extraction or deliberate “data poisoning” by malevolent actors (Exhibit 2). Exhibit 2 We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com Most companies do not yet have the appropriate structures and tools to effectively manage the risks and returns of intelligent automation. Specifically, different aspects of system development and operation ........ https://lnkd.in/eB8JpyBF

Yes indeed, AI is already able to perform first review of control risk matrices (RCMs)! CG has crowd-sourced a real-world prompt that’s available for free. Please comment “prompt” or DM me if you’d like a copy to play around with!

BY MCKINSEY & COMPANY: Managing the risks and returns of intelligent automation! As companies accelerate the adoption of automation and artificial intelligence, they need a better way to maximize the benefits of these new technologies while minimizing the risks. The COVID-19 pandemic has pushed business digitization into overdrive. In surveys of top executives, more than two-thirds say their companies have accelerated their adoption of digitization and automation since the onset of the crisis (Exhibit 1). Many institutions (including banks, insurance companies, and other large corporate enterprises) are therefore deploying automation and AI solutions—a combination increasingly called “intelligent automation”—to optimize end-to-end business processes, automating not only tactical activities but also more complex prediction problems and decision making. Exhibit 1 We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com Intelligent-automation solutions can help to achieve efficiency and effectiveness gains, and support decision making by extracting new insights from complex data. But, as with other forms of AI, they can also increase risks for the business and lead to increased scrutiny by regulators: these tools and technologies could ultimately affect the delivery of critical business services to the surrounding ecosystem. AI’s risks stem from many sources. Among the most important are potential breaches of data-privacy rules in the development of models; a lack of transparency around how these systems work, with the risk that flaws in model design or training-data selection may introduce errors, unfairness, or bias; and new cybersecurity risks such as model extraction or deliberate “data poisoning” by malevolent actors (Exhibit 2). Exhibit 2 We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com Most companies do not yet have the appropriate structures and tools to effectively manage the risks and returns of intelligent automation. Specifically, different aspects of system development and operation ........ https://lnkd.in/etbuD4EV

Learn how #oversight and #compliance can be transformed from a cost center to a competitive advantage in our latest white paper. Learn how #automation, #digitization, and exception-based process management can improve outcomes and reduce manual tasks. Download the whitepaper at https://bit.ly/48HnJvI.

🚀 Revolutionize Automation!  Use GenAI to transform workflows and roles. We developed an innovative prompt enabling junior staff to perform much of the manager review for SOX risk & control matrices. Interested in the details? Comment or DM me! 📩    This approach to automation is also recommended by other technology innovators including Ethan Mollick (his recent article with great prompts is in comments), Vijay Tella (CEO, Workato) who wrote The Innovation Mindset (link in comments).     There’s still much to refine and learn about effectively using GenAI technology and we’re happy to share this prompt and the new GenAI Governance Framework.     However, the key to unlocking the value of GenAI lies in moving beyond traditional automation approaches, those often centered around the IT team.    Instead, we all need to engage in R&D, to discover AI’s potential and applications. Together we will discover the many opportunities to truly transform how we operate and who does what within the organization.    A few GenAI capabilities that will revolutionize organizations, please add yours in the comments:    ➡️ Redefining Technology Interactions: AI alters how we process transactions, access data, and configure systems.    ➡️ Reading and Writing Capabilities: Imagine the vast opportunities when AI can read and write. How many doors does this open?    ➡️ Leveraging Human-like Judgment: AI can analyze complex scenarios and suggest appropriate actions or alternatives.    ➡️ Replicating Human Interactions: AI provides fast, consistent, and even interactions that can feel more “human”.    ➡️ Accessing Vast Data Quickly: Knowledge is becoming incredibly accessible and inexpensive.    JOIN US!    Empower your team to explore AI, challenge them to innovate, and share your journey in adopting this transformative technology. 

Intelligent automation tools are crucial to deploy in businesses of all sizes as they reduce time used for repetitive tasks, and reduces the chance of error. https://lnkd.in/gefXHNXr

Intelligent automation tools are crucial to deploy in businesses of all sizes as they reduce time used for repetitive tasks, and reduces the chance of error. https://lnkd.in/gxxbH7x3

CUTTING COSTS, MITIGATING RISKS: THE BUSINESS BENEFITS OF AUTOMATION #AIandBusiness #AIBots #ArtificialIntelligence #BusinessAgility #BusinessAutomation #BusinessSavings #BusinessStrategy #CostEfficiency #DataInsights #DecisionMakinginBusiness #EnhancedCustomerExperience #OperationalEfficiency #ProcessAutomation #ProductivityImprovement #RiskMitigation

Traditional linear workflow automation systems, while useful in predictable and straightforward scenarios, fall short when faced with the complexities of real-world processes. This is where Autologyx’s graph-based approach to automation stands out, offering a level of adaptability that linear systems cannot match. https://lnkd.in/gxeQKqST #workflowautomation #processautomation #legaltech