U.S. insurers can unlock $7 billion in total value -- 10-15% of operating expenses -- in 18 months by using artificial intelligence to automate certain core administrative functions, according to a new study from Accenture. The savings could stem from streamlining core functions for payers across the board, including customer service, billing, enrollment, claims and quality and compliance. Automating these functions for an individual health plan would bring in $1.5 million in operating income for every 100 full-time employee by the end of next calendar year for large and small payers alike, the report concludes. In 2017, 72% of payer executives said that, within the year, AI would be among the top three strategic priorities for their organizations, according to a separate Accenture survey, adding to industry buzz around the technology's potential. The top three current areas to target for near-term value were anticipating and resolving customer questions, improving the benefits loading and design process and accelerating prior authorization and clinical review of claims.

The first management consulting firm was formed in 1886 by Arthur D. Little, with the intent of providing technical research and "management engineering" to companies. Soon after, in 1926, McKinsey & Company was founded. Since then, McKinsey, along with several other management consulting giants including BCG and Bain have grown to form a $145 billion industry that serves clients in almost every sector imaginable. As a McKinsey alum who has since developed an artificial intelligence (AI)-powered expert network, I am interested in examining the management consulting market in the context of our rapidly evolving information sourcing ecosystem. In an age where information is cheap, what is the role of the management consultant?

When students arrive on campus they have every intention of graduating with a degree that will help them pursue their goals. Unfortunately, many will not finish their degree, and in the US a staggering 40% will fail to complete their four-year degree in the next six years. For students, graduating successfully can have a transformational impact on their lifetime earnings and career satisfaction. For institutions, increasing retention rates improves rankings, reputations, and financials. But above all, I think there's a more fundamental reason to address retention: it's simply the right thing to do.

The QA landscape has been evolving over the past decade and there is a clear shift from independent testing of applications to a more holistic brand assurance of business processes and outcomes. Even as enterprises adopt Agile and DevOps and continue their journey of integrated testing, service providers are strengthening their capabilities to deliver end-to-end QA orchestration to their clients. Providers are also investing in Artificial Intelligence (AI) and Machine Learning (ML) to expand their test automation suite of tools and IP, and even include performance and security testing into the continuous delivery model, thus enabling brand assurance for their clients' business.

SAP's latest release of S/4HANA Cloud adds more artificial intelligence aimed at industries such as manufacturing and professional services. The enterprise software giant has been stepping up its vertical AI efforts. Earlier this year, the 1805 release of S/4 HANA Cloud included 12 "AI-powered scenarios," or prepackaged workflows to take over manual tasks. Also: What is AI? Everything you need to know about Artificial Intelligence What is machine learning? Everything you need to know The data science life: Intuit's Ashok Srivastava on AI, machine learning, and diversity of thought With the 1808 release of S/4 HANA, SAP is adding 9 more of these AI scenarios.

Bio: Shailendra is a keynote speaker, influencer and a thought-leader in the Artificial Intelligence space . With an experience of over 23 years working with Corporates, Software Vendors and Consulting companies, Shailendra has delivered over One Billion Dollars through advanced analytics. He has established and lead several data science businesses and teams to generate revenue and drive incremental growth by creating multiple Artificial Intelligence solutions across a variety of sectors, including Telcos, Financial Services, Retail and Public Sector. Shailendra has published multiple articles about Advanced Analytics, Machine Learning, IoT, Artificial Intelligence and Blockchain; and recently published an Amazon bestseller "Making Money Out of Data" which showcases five business stories from various industries on how successful companies make millions of dollars in incremental value using analytics. Shailendra has held senior executive level positions at SAP, IBM, Accenture, Woolworths and Coles with Asia and ANZ mandates.

Many investments in data technology and integration have failed to answer the big question: Where's the ROI? But AI is now delivering business cases for data initiatives, and new tools are making these initiatives more affordable than before. Organizations no longer need to decide to "clean up data"--nor should they. They should start with a business problem and first quantify the benefits of AI. Once data is used to solve one specific problem, further data-driven AI solutions become easier, and a virtuous cycle can begin. Some organizations are still struggling with data fundamentals.

In this era of digital disruption, attracting and retaining customers through enhanced customer experience is top of mind. Furthermore, enterprises that drive initiatives to enhance EX are also four times more profitable than those that don't, as discussed in a recent Harvard Business Review study. Everest Group, a leading industry analyst firm, which previously rated IPsoft as the leader in IT operations automation, has collaborated with IPsoft on this new research report. The study shows how different cognitive AI tools can be used together to enhance the experience for all employees within an enterprise. It provides a case study from a leading hotel company which uses IPsoft's Amelia as a virtual agent to quickly resolve employee IT service desk queries. The paper also showcases the potential for AI technologies, such as those in IPsoft's 1Desk, to benefit businesses in various scenarios, from improving employee hiring and onboarding, to empowering employees with real-time information.

Tailored solutions demand a rigorous process. Our business model is to provide professional services to companies. Depending on your needs, we come up with a statement of work (SOW) and provide a quote for that work. Some contracts are fixed-price, while others are set at an hourly rate, and some larger projects are open contracts where we bill our work up to a monthly cap. Our sweet spot is in the high end of the market, focused artificial intelligence and machine learning.

FEW COMPANIES have gone through a more vigorous digital transformation than Accenture. The professional services firm now derives 60% of its nearly $37 billion in revenue from its digital, cloud, and security businesses--up from 32% about three years ago. The bet has paid off: Since Nanterme became boss in January 2011, Accenture has delivered a total return to shareholders of more than 300%. Fortune sat down with the 58-year-old Frenchman in the spring to learn where he thinks business is headed next. Here are edited excerpts from that conversation.