skill shortage


Artificial Intelligence top become a disruptive force in UK financial services sector

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An overwhelming majority (94 per cent) of UK-based financial services industry decision-makers believe that Artificial Intelligence (AI) has the most potential to revolutionise the sector over the next five years, considerably ahead of blockchain (53 per cent) and the Internet of Things (24 per cent). Intertrust, a provider of administrative services to clients operating and investing in the international business environment, surveyed UK-based executives covering the asset management, capital markets and private wealth sectors to identify the value-add delivered by new technologies now and in the future. Some 83 per cent of respondents believe that operations roles are the most likely to be replaced or dramatically changed by AI, robotics and blockchain, ahead of accounting (82 per cent), and compliance (65 per cent). While AI is seen as the clear frontrunner among disruptive technologies, its rollout is being hindered by a skills shortage. Some 41 per cent of respondents said they are struggling to recruit AI specialists, ahead of those working in data-analytics (29 per cent), cybersecurity (18 per cent) and compliance (18 per cent).


AI skills: organisations committed to AI but skills shortage is a challenge

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AI is not a silver bullet, but the technology can positively impact different sectors in a number of ways. Most organisations, as a result, are fully invested in AI, but they are hampered by a lack of AI skills. In fact, more than half don't have the required in house skilled talent to execute their strategy, according to new research from SnapLogic. The study found that 93% of US and UK organisations consider AI to be a business priority and have projects planned or already in production. However, more than half of them (51%) acknowledge that they don't have the right mix of AI skills in-house to bring their strategies to life.


RMIT partners with NAB and Palo Alto Networks for new cybersecurity course

ZDNet

The smartest companies now approach cybersecurity with a risk management strategy. Learn how to make policies to protect your most important digital assets. The Royal Melbourne Institute of Technology (RMIT) has announced a new online course on cybersecurity in a bid to address Australia's cybersecurity skills shortage. As part of the course, RMIT Online has partnered with the National Australia Bank (NAB) and Palo Alto Networks, with both organisations to provide mentors for the course. The course, called Cyber Security Risk and Strategy, will cover topics such as the fundamentals of cybersecurity and how to apply cybersecurity risk mitigation strategies to an organisation.


Skills Shortage is Stopping Many Asian Companies from Embracing AI, Study Shows

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A lack of skilled workers is stopping many Asian companies from embracing artificial intelligence, according to a new study by Microsoft and International Data Corporation. While artificial intelligence (AI) is expected to speed up innovation in the Asia Pacific region over the next few years, only 41% of companies in the region are currently using the technology, according to a recent Microsoft and International Data Corporation survey of business leaders and workers in 15 Asia Pacific countries. One of the main obstacles preventing companies in the region from embracing AI is a skills shortage, the study found. The report highlighted the fact that while a majority of companies say they are willing to invest and retrain workers, many lacked time and an understanding of where to start. China has launched an aggressive campaign to dominate the AI space through public and private investments into the technology, aiming to be a world leader in AI innovation by 2030.


How the tech industry can help fix our AI skills shortage

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In 2015, Uber opened a research facility around the corner from Carnegie Mellon University's National Robotics Engineering Center in a move positioned as a partnership between the two organizations. Within months, dozens of faculty members had left their positions for full-time roles at Uber, draining the center of much of its talent. Other major tech companies have followed a similar path – in 2018, Facebook launched AI labs in Seattle and Pittsburgh headed by former professors. These stories provide a window into a tug-of-war that's been playing out between the tech industry and academia. Keen to build products and services that use AI and machine learning, tech firms and other businesses have been hiring away researchers and professors from universities, creating a shortage of academics who can teach the next generation of data scientists.


What CIOs Should Beware Of In 2019

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CIOs have an unpredictable and uncertain year ahead. Over the last decade, the chief information officer (CIO) has become an integral part of every large business. The growing importance of technology and data have helped to make CIOs one of the key leaders involved in developing, implementing and seeing through a digital strategy. In 2018, within the CIO community, there was rising talk of machine learning, edge computing, serverless and 5G, as well as more interest in deep learning, robotics and anti-ransomware tools. However, many CIOs are still focusing on many of the buzzwords of yesteryear: cloud, agile, DevOps and data science.


NAB looks at moving core banking to the public cloud

ZDNet

The National Australia Bank (NAB) is diving head first into its public cloud-first strategy, making plans to not only shift a few hundred apps to Amazon Web Services (AWS), but also to consolidate all of its information into a single, real-time data lake as it lays the foundation for sending core banking to the cloud. Speaking with media during AWS re:Invent, CIO at NAB Yuri Misnik, said his bank expects the cloud is where its core banking functions will eventually be run. "We'll start to look at core banking in the cloud -- we expect it to happen, but it obviously depends on lots of moving parts and regulators, etc," he said. When asked if there are some workloads that won't be moved to the public cloud, Minisk said NAB is being "very pragmatic". "We will do whatever makes sense for us technology wise and business wise," he said.


Microsoft to tackle AI skills shortage with two new training programs ZDNet

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Microsoft has revealed two new training programs to tackle the shortage of AI-related skills in business and academia. What is AI? Everything you need to know about Artificial Intelligence The first of the two programs, Microsoft AI Academy, will run face-to-face and online training sessions for business and public-sector leaders, IT professionals, developers, and startups. "The academy will be helping to develop practical AI skills, learning, and certification for customers and partners," said Cindy Rose, Microsoft UK CEO, speaking at the Future Decoded event in London today. Rose added that Microsoft will use the academy to train up its own staff, including herself. Microsoft's ambition for the academy, she said, is "to empower you and your organization to do more with AI".


NAB touts cloud shift as full-year underlying profit drops 12 percent to AU$9b

ZDNet

For the year to September 30, National Australia Bank (NAB) has reported a 12 percent drop in its underlying profit to AU$9 billion, despite a 6 percent jump in revenue to AU$19 billion and a 5 percent jump in statutory net profit to AU$5.55 billion. "We are making progress to be a better bank for our customers, employees, and owners. While 2018 has been a challenging year, our transformation is on track and benefits are emerging as we become simpler and faster," NAB CEO Andrew Thorburn said. Over the course of the fiscal year, the bank spent just shy of AU$500 million on technology and investment, and created a new technology leadership team with 10 executives. The organisation's shift to a cloud-first strategy saw 70 applications moved during the year, with the last 50 days of the year accounting for 30 application shifts, and the bank touting cost savings of up to 60 percent per application -- however, this only represents 3 percent of the bank's applications.


Microsoft to tackle AI skills shortage with two new training programs

ZDNet

Microsoft has revealed two new training programs to tackle the shortage of AI-related skills in business and academia. What is AI? Everything you need to know about Artificial Intelligence The first of the two programs, Microsoft AI Academy, will run face-to-face and online training sessions for business and public-sector leaders, IT professionals, developers, and startups. "The academy will be helping to develop practical AI skills, learning, and certification for customers and partners," said Cindy Rose, Microsoft UK CEO, speaking at the Future Decoded event in London today. Rose added that Microsoft will use the academy to train up its own staff, including herself. Microsoft's ambition for the academy, she said, is "to empower you and your organization to do more with AI".