A large opportunity exists for Australian organisations to use new and powerful technologies (Artificial intelligence[AI] and Cloud technologies) to transform their businesses to keep pace with or ahead of the leading edge of competitiveness.
This book showcases inspirational Australian case studies in order to inspire Australian (and non-Australian) organisations to undertake the challenge. This book synthesises the key learnings and contrasts those with the conventional wisdom on this topic. The book also defines what AI- and Cloud-based business transformations are and what they can do for businesses. Furthermore, it explains why it is imperative that businesses should address the business opportunities of these technological advancements, without going into the technical details any more than the ‘literacy’ that is necessary for business leaders. Finally, it also includes international best practice case studies beyond the usual suspects.
This book provides guidance and motivation for business executives, managers and students interested in innovating and transforming their businesses through the use of the two critical new technologies.
Author(s): Danny Samson, Alon Ellis, Stuart Black
Publisher: Routledge
Year: 2022
Language: English
Pages: 199
City: London
Cover
Half Title
Endorsement
Title Page
Copyright Page
Table of Contents
Figures
Tables
Preface
1 Introduction to AI/Cloud-Enabled Business Transformation
The Opportunity
The Rise of Information Technologies (And the Capabilities They Bring)
Business Model Innovation
Looking Back and Looking Forward at ICT
Innovation in Business Models: How and What?
What Can New Technologies Do, Disrupt, Add Value to, and What are Their Limitations?
How New Technology Has Created New Challenges and Opportunities for Business Model Innovation
What’s Different With AI and Cloud Technology?
Why AI and Cloud? Why Not Other Disruptive Technology?
AI: Some Development Directions and Limitations
How Widely Are These Technologies Being Applied?
Where Our Findings Differed From the Conventional Wisdom
Topic 1 – The Pathway for AI and Cloud Adoption
Topic 2 – These Technologies Are Complex and Require Significant Organisational Scale
Topic 3 – The Constraints of Technical Debt
Topic 4 – The Skills Required in the Boardroom
Topic 5 – The Balance of Actions Versus Ideas
Summary
Notes
2 Antecedent Capabilities of AI- Or Cloud-Enabled Business Transformation
Capability 1: Leadership Proactivity
Capability 2: Innovation Culture
Capability 3: Balancing Exploration Versus Exploitation
Capability 4: Risk Tolerance
Capability 5: Strategic Process Strength
Capability 6: Foundational Data and Information Systems Readiness
Capability 7: Market and Customer Sensing
Capability 8: Opportunity/threat Drivers
Capability 9: Industry Dynamism
The Integrated Nature of Antecedent Capabilities
Notes
3 Local Case Studies
Introduction to the Case Studies
Case Study 1: Deloitte Self-Managed Superfund
An Overview of Deloitte Australia and the Self-Managed Superfunds (SMSFs) Audit Market
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Exploration and Exploitation
Market and Customer Sensing
Closing Thoughts
Case Study 2: Moula
An Overview of Moula
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Overcoming Process Inertia
Risk Tolerance
Closing Thoughts
Case Study 3: SEEK
An Overview of SEEK
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Strategic Process Strength
Exploration and Exploitation
Risk Tolerance
Closing Thoughts
Case Study 4: Kogan
An Overview of Kogan
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Market and Customer Sensing
Risk Tolerance
Closing Thoughts
Case Study 5: Bank of Queensland
An Overview of the Bank of Queensland
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Industry Dynamism
Risk Tolerance
Opportunity/threat Drivers
Closing Thoughts
Case Study 6: PEXA
An Overview of PEXA
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Overcoming Process Inertia
Closing Thoughts
Case Study 7: Insurance Australia Group Limited (IAG)
An Overview of Insurance Australia Group Limited (IAG)
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Risk Tolerance
Foundational Data and Information Systems
Closing Thoughts
Case Study 8: Canningvale
An Overview of Canningvale
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Risk Tolerance
Closing Thoughts
Case Study 9: Caesarstone
An Overview of Caesarstone
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Proactive Leadership
Risk Tolerance
Closing Thoughts
Case Study 10: Scope
An Overview of Scope
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Leadership Proactivity
Industry Dynamism
Risk Tolerance
Culture/internal Dynamism
Closing Thoughts
Case Study 11: Service NSW
An Overview of Service NSW
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Risk Tolerance
Strategic Process Strength
Market and Customer Sensing
Closing Thoughts
Case Study 12: Yarriambiack
An Overview of Yarriambiack
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Leadership Proactivity
Risk Tolerance
Strategic Process Strength
Industry Dynamism
Foundational Data and Information Systems Readiness
Closing Thoughts
Case Study 13: Urban Art Projects (UAP)
The Opportunity
The Initiative
The Situation Today
Antecedent Alignment
Balancing Exploration Versus Exploitation
Risk Tolerance
Closing Thoughts
Learnings From the Case Studies
What If We Don’t Support Innovation From Within?
An Overview of Verton Technologies
The Innovation
Where Are They Now?
Innovate From Within, Or Wait to Be Disrupted
Notes
4 International Leading Practice
Introduction: ‘World’s Best Practice’ in AI-/Cloud-Enabled Transformation
Rolls Royce (UK): ‘Flight-As-A Service’
Background: an Illustrious Aviation Heritage
‘Power By the Hour’: Inventing Servitisation
Fuelled By Analytics
The Intelligent Engine
AI Now at Rolls Royce
Surfacing New Opportunity and Ethically Governing AI
Meeting the Pandemic Challenge With AI
Samsung (South Korea): Insight and Efficiency With AI
Background: Change and Reset
New Products and New Technologies
Entrepreneurial In-House IT
The AI-Enabled Workplace
AI-enabled Managed Services
Profit Through Technology Innovation
DBS Bank
DBS Goes Platform Based
Cloud’s Role at DBS
Bank of America
Floating On the (IBM Public) Cloud
Innovation at BoA
Netflix
Entertainment On the Cloud
Netflix Journeys to the Cloud
Value Adding in the Cloud: AI Content Recommendation Services
Conclusions From These International Transformation Successes
Notes
5 The Business-Relevant Details Behind AI and Cloud Technology
Working Hard for the Benefits
Supervised Learning
Unsupervised Learning
Deep Learning, and the Neural Nets We Never Want to Speak About Again
Image Recognition, Manipulation, and Convolutional Neural Networks (CNNs)
Chatbots, Natural Language Processing, and Neural Natural Language Processing
The Growing Power and Flexibility of Simulation and Digital Twins
Strong AI and the AI Control Problem
The Practical Reality
Thinking About Cloud in the Context of Competitive Advantage
Viewing Cloud Services in the Context of Building Blocks of Capability
APIs and Simplifying Doing Business
That’s Great, But What’s the Catch?
Notes
6 Innovation
Introduction
The Interplay Between Innovation, Transformation and Technology Enablement
Prioritising Innovation, Transformation and Technology Enablement
The Evolution of Innovation
How Do These Innovations Practically Impact the Business Model?
Alternative Approaches for Innovation and Venture Development
Conclusion
Notes
7 The Board, Executive and Leadership’s Role in BMT
Introduction
Opportunity and Risk
Directors’ Duties: Managing Risk
Directors’ Duties: Managing Opportunities
How the Broader Leadership Team Can Help
How Risk Management Should Evolve Through These Disruptions
Closing Thoughts
Notes
8 What’s Next for AI- and Cloud-Enabled Innovation in the Australian Business Environment
What If We Did Nothing?
Is this Just a Passing Fad?
Some of the Fundamental Disruptors Are Accelerating
Most Uncertainties Present Opportunities, Not Threats
Notes
9 So What Should I Do Now?
Genuinely Assess Whether Your Business Model Will Thrive in the Future
Create New Business Model Options and Align On the Preferred Future Choices
Take a Broader Lens to Your Innovation Approach
Objectively Self-Assess Your Ability to Transform
Raise the Prioritisation and Shared Responsibility for Technology-Enabled Innovation
Last But Not Least
Notes
Appendices
Appendix 1: Diagnostic Questions for Antecedent Capabilities
Appendix 2: Further References, Definitions and Background Research
Business Models
AI and Impact On BMI
AI Or Cloud Impacts On Business Transformation
Cloud Computing and Impact On BMI
Newcomers Versus Incumbents: Who Explores and Who Exploits?
Exploring and Exploiting
Strategic Process Strength
Market/customer Focus
Data and IS Readiness
Notes
Other Sources of Interest
Index
