There are numerous possibilities for increasing the effectiveness of an organization's functions. There appears to be high levels for duplication of effort – people may not know where in a process a particular item is. 5. An expert has difficulty in quantifying his or her knowledge – a variety of experts may be needed in the same area. Although some of these applications entail carefully walking through the thickets of internal politics, the rewards can justify the effort. Whatever the parameters used in selecting an application, the bottom-line questions should always be asked. What will be the impact on the business?

There are always risks when implementing new inventions and technologies, especially in highly regulated or particularly sensitive markets. The Financial Conduct Authority (FCA) has an overall objective to ensure that financial markets work well -- maintaining consumer protection and overall market integrity. However, the FCA is also eager to promote competition in the interest of consumers, something that many new financial technology -- or FinTech -- innovations can provide. Traditional financial organisations can be hesitant to embrace new technology. However, it is important that the industry understands how this innovation brings positive market disruption by forcing adaptive thinking and processes.

Volvo have discovered a speed bump during the testing of driverless cars in Australia after kangaroo's threw off the vehicle's animal detection sensors. During a drive in Canberra, Australia, 18-months-ago the company realised the driverless car software struggled to detect kangaroos due to their hopping motion. Driverless cars are designed to detect animals appearing suddenly in front of it using sensors to determine a reference point. Volvo's animal sensor software struggled to pick up the hopping kangaroo But, the technical manager of Vovlo Australia David Picket said kangaroos have been proven to confuse the detection sensors because of the hopping motion, according to the ABC. 'We've noticed with the kangaroo being in mid-flight ... when it's in the air it actually looks like it's further away, then it lands and it looks closer,' the technical manager of Volvo Australia said.