“Human + Machine: Reimagining Work in the Age of AI” – book by Paul Daugherty and H. James Wilson (book review)

Machine learning and artificial intelligence are becoming really hot topics. Take Europe companies, for example – it is enough to through in the discussion the “digitalization” and the “machine learning” topics and you will get the CEO’s attention. But as in most mini-industrial revolutions, the devil hides into the details. And the very same companies that push for transforming themselves are having a difficult time to perform the transformation itself. This is because of multiple reasons – not the smallest being a certain lack of knowledge ramp up during the current revolution.
“Human + Machine: Reimagining Work in the Age of AI” takes an interesting middle ground approach to the topic. On one hand, it lays down quickly the rules governing this brave new volatile world – data agility. Continue reading ““Human + Machine: Reimagining Work in the Age of AI” – book by Paul Daugherty and H. James Wilson (book review)” »

„Entering StartUpLand“ By Jeffrey Busgang – A Book Review

„Entering StartUpLand” is for sure a different animal in the Harvard Business Review library. The same goes with the author himself (Jeffrey Bussgang), a relatively experienced venture capitalist who got his hands greased with new ventures’ oily details – as well as with the theoretical side. The book has a strong practical side – it is not only full of practical cases, but performs a deep dive into the mechanisms and safeguards of the world’s riskiest ventures.
“Entering StartUpLand” dissects a typical start-up through its functional anatomy. Continue reading “„Entering StartUpLand“ By Jeffrey Busgang – A Book Review” »

Book Review – “Prediction Machines – The Simple Economics of Artificial Intelligence”

Artificial intelligence came (no doubt)3 years ago to stay. It started as a corporate craze for big data and last year moved to machine learning. These 2018 days AI goes in production via prediction (my 20 copyright cents please). Ajay Agraval, Joshua Gans and Avi Goldfarb, Toronto based professors, are well placed to write about this, as most of the tech companies spearheading the AI commercialization (led by the Big Tech 4 – Amazon, Google, Microsoft and IBM) are NAM based.
So what is “Prediction Machines” about? Without spoiling the book’s well documented contact, we can simply just underline that AI becomes a long powerful digitalization tool, but not any longer as a facilitator (as was until last year). Agraval forecasts that machines will eliminate uncertainty, thus reducing the market friction forces, thus reducing production and transaction costs. Continue reading “Book Review – “Prediction Machines – The Simple Economics of Artificial Intelligence”” »

Multinational Glitches in the Implementation of GDPR

Admit it, you have done this at least once: you were lured by the special offer / freebie / like into signing up for a newsletter… then you forgot about it. Or you installed an IOS/Android/Windows app which asked you for permissions to share with the Martians your accurate location, food prefferences or place of birth.
The personal data requests have become so ubiquitous, that now it is very hard to trace where it lands. It is then perfectly understandable why EU is seeking to make the various companies responsible for minimal safeguards of such personal data.
If you read the law (or the highlights), you would realize most of the requestgs are quite reasonable – and still theoretical. Fortunately for the consumer (and burdening for the companies), the burden of safeguarding and cleaning up the unnecessary data falls on the collectors. Continue reading “Multinational Glitches in the Implementation of GDPR” »

Do Money and Inspiration Go Hand in Hand?

The World is Full of Noise

Let’s face it – almost all of us succumbed to this temptation: we could do the toughest, most important task or we could break all of them into pieces (“eating the elephant” as the management gurus say) and start chewing them. Or just give in to the boss’ latest request and answer his (sometimes lazy) easy to dig emails.
In this world of digital enrichment, our human brains are spectacularly assisted and enabled to do so the work. Simple exercise: close your eyes and try to imagine how long and how many people you would need to achieve what you now manage in a working day… without laptops, internet and corporate cloud software solutions. Hmmm… not too much, right? Continue reading “The World is Full of Noise” »

Simplicient Financial Controlling – 1 – Laying the Ground

Let us face it – finance is not easy. Whoever tells you that the commercial financial management is a steady progression job, where one gets well trained and well paid over a reasonable number of career years, is trying to lure you into something. The finance specialism requires almost a decade of training (if you count a faculty/college degree plus professional qualifications plus specializations). Plus an in-commensurable amount of overtime hours and periodical work pressures (quarterly P&L targets or year-end closings speak for themselves).
Yet, it remains a wonder to me how over-complicated most finance processes are. Take any routine activity – you would expect 90% of them to be stable and running smoothly. Yet, the more you dive, the more details and complications hide behind. Obviously, this pushes the amount of work further up. And with the increasing pressure resulting from new (or amended) regulations, from ever-shifting processes (shared services or not) and from the ever-green chase for a lower cost base, finance is becoming more complicated every day.
Yet, it should not be the case. There are shortcuts. There are tips and tricks in controlling. These shortcuts come from the most unexpected place. They do not involve compromises on the decision-making quality. And long story short, I would like to share some of them here, so that this knowledge does not get completely lost.
So stay tuned and visit doitinvest.com from time to time for more simplicient controlling tips and tricks.