Be prepared for the'hybrid workplace', which will fundamentally change how work gets done. Robots running processes? AI-guidance for every employee? The gig economy eroding the need for permanent staff? You may think that this is a long way off but a lot is already underway. Download your copy now to better understand how senior leadership at organizations around the world are perceiving and adapting to transformational impacts to the workforce and workplace from these emerging technologies.
The price of oil has hit $70 a barrel for the first time since 2014. Brent crude, the international benchmark for oil prices, jumped after the Organisation of Petroleum Exporting Countries (OPEC) said it would continue to limit supplies. Naeem Aslam, the chief market analyst with London-based Think Markets says there are three major factors driving prices up: a supply cut, stability in demand and most importantly, the Aramco IPO. "The entire reason Saudi Arabia is behind price stability is mainly because of this IPO ... [it is] because of that we have seen the consistency of the supply cut throughout that supply cut decision," says Aslam. "[This trend] is highly likely to continue. The price could certainly continue to the upside.
Emphasize the rewards: Although Pegasystems' "What Consumers Really Think About AI" survey reveals that 72% of respondents are afraid of AI in some way, 68% of people want more AI if it will make their lives easier. For this reason, companies must educate consumers on how AI benefits the customer experience. Examples include getting better product offers, faster customer service, and more relevant messaging from favorite brands. Be transparent: Transparency tops the list of features valued most highly among business leaders, and for good reason: Consumer trust is the foundation for real engagement. In response, companies should disclose information on how consumer data is being used and stored, and the precautionary measures being taken to protect consumer privacy--a critical step in building trust with customers.
This capability is particularly critical for organizations in highly regulated industries to ensure they maintain compliance while also delivering intelligent, personalized customer experiences. To complicate matters, the European Union's General Data Protection Regulation (GDPR) mandates that businesses must be able to explain the logic behind AI models using European customer data to make decisions or risk massive fines up to four percent of global revenues for non-compliance. Conversely, for financial institutions under strict regulations for the kinds of loans they offer customers, marketers may require highly transparent AI models to ensure they can demonstrate the resulting product offers are appropriate for the financial needs for each individual. Pega Customer Decision Hub works in tandem with Pega's suite of CRM applications for marketing, sales, and customer service to anticipate customer needs and provide highly contextual brand experiences for each individual customer.
From back to front Such applications may be driving greater profitability at the back end of Shell Downstream's operations but with crude oil prices still sitting at around half their 2014 rates, Shell is also turning to AI to move the focus from volume to customer-centric commerce. By applying AI at the front-end of operations -- the Downstream division supplies fuel and lubricants to businesses, aviation and shipping, as well as operating 40,000 Shell-branded service stations -- the company can offer more personalized rather than generic products and services, right down to the individual. For Walker that approach is designed to build customer loyalty, with AI used to develop new levels of customer knowledge and insight that will enhance services.
When you are Robotic Automation Ready, others know that you have achieved a foundational understanding of how to build and deploy automation solutions in Pega applications. This means that you can deliver immediate positive results to Pega implementation projects. When project managers, customers or other key stakeholders see the Robotic Automation Ready badge in your transcript, they can be confident that you are ready for their Pega implementation project.
Automation platforms like Pega have capabilities that span tactical intent and strategic intent, namely Pega robotics, cognitive decision making, business function transformation, and analytics. But if you have Pega robotics as the entry point, the development lifecycle actions follows the sequence of Assess, Record, Design, Unit Test, Verify, Soft Launch, Iterate and Manage Exceptions, and Full Launch. But when you're creating cognitive automation processes, these work on data and patterns produced by RPA systems, other IT systems, or all of them. Because of the underlying risk involved in working with production data, process, and soft launch iterations, production movement, and deployment planning is the most important element of the development cycle.
This key trend from the 2017 Accenture Technology Vision highlights how AI is beginning to enhance a user's experience with technology, improving adoption and data quality by working in collaboration with users. Transavia developed the vision of a single solution, allowing gate agents, customer service representatives, cabin attendants, baggage handlers and maintenance personnel to all see flight status in real-time. To achieve this vision, Transavia and Accenture have been collaborating to develop the Accenture Aviation Experience Accelerator, based on the Pega 7 platform. By leveraging Pega's AI solution, these personalized experiences can be created at scale and provide seamless interactions across all channels and roles in the travel journey.
Simply put, Artificial Intelligence (AI) means making computers and machines capable of human-like, intelligent behavior. For businesses today, the promise of AI is to improve customer engagement through better anticipating customer needs and optimizing work to provide better, faster, and more effective customer experience. Pega has been pioneering and delivering these capabilities since our founding in 1983, from advanced business rule engines, to data-driven predictive and machine learning analytics. Recent advances in data processing speeds, big data volume, and machine learning methods and algorithms at lower costs mean the promise of AI can be even more readily extended to most any customer engagement scenario.
As the world begins to turn away from fossil fuels and depend increasingly on renewable resources, the energy sector is presented with a problem. Texas-based oil and gas company Pioneer Natural Resources has said that using AI could help ensure accurate and optimal drilling locales. Oil and gas companies are dedicating large research teams to the development of AI as for its potential to increase production without the need to hire many more workers, an attractive prospect as crude oil prices continue to be unstable. While the necessary systems needed to transform the renewable and traditional energy industries are still in development, we can expect big changes soon.