[vc_row][vc_column][vc_column_text]In the dynamic business world of 2024, staying ahead of the competition is no longer a luxury but a necessity for survival and growth. With technology advancing at an unprecedented pace, businesses must adopt innovative solutions to stay relevant and thrive. Artificial Intelligence (AI) has emerged as a powerful tool, transforming the way businesses operate and deliver value to their customers. However, harnessing the potential...
Read More[vc_row][vc_column][vc_column_text]Artificial Intelligence (AI) is revolutionizing the finance industry, offering unprecedented opportunities for efficiency and innovation. However, its implementation comes with a unique set of challenges that Chief Financial Officers (CFOs) must navigate to ensure successful integration. Here are some of the key hurdles encountered when implementing AI in finance:[/vc_column_text][vc_empty_space height="30px"][vc_column_text]1. Employee Training: One of the significant challenges of implementing AI in finance is employee training....
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A strong leadership commitment is needed to launch a Robotic Process Automation (RPA) program. Yet, given the high infrastructure cost and resources required to demonstrate success, this can take time to accomplish. Many business executives are aware of the benefits that RPA can offer. The decision often lies squarely on whether or not to invest in the conventional in-house RPA model. However, for leaders who require fewer upfront resources...
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In today's competitive business landscape, automation has become a popular buzzword for companies looking to streamline operations and reduce costs. However, intelligent automation is taking it further by combining artificial intelligence, machine learning, and robotic process automation (RPA) to optimize processes and decision-making. This article will explore the basics of intelligent automation, its benefits, and what you need to know to stay ahead of the curve. The...
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The occasional help-wanted sign at a local fast-food joint or clothing store is nothing new, but with the current state of the labor market, they seem to be a permanent fixture. Companies across the country are bemoaning their inability to hire and retain workers. What’s worse for those businesses is that customers are experiencing diminished service and long wait times as an add-on impact of the...
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In April of 2021, the number of workers who quit their job in a single month broke an all-time U.S. record. Then, it broke again in July and August, leading economists to label it the “Great Resignation.” As a result, job openings are now at an all-time high, and many are going unfilled for months. Meanwhile, the global supply chain is experiencing an abnormal number of...
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U.S employment statistics hit a new milestone last year, but not a positive one. In August 2021, almost 4.3 million workers quit their jobs, according to the U.S. Department of Labor. That's the highest number since the department began tracking voluntary resignations. While the reasons for quitting vary, one thing is clear: Businesses are having a tough time getting employees to come back. 80% of companies...
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The US insurance industry is facing a talent crisis. Research suggests that: The industry is hiring at record levels, but the most significant challenge companies currently face is securingnew talent, according to the 2018 Insurance Industry Employment and Hiring Outlook Survey. Employee retention among millennials is a problem for the sector. They are estimated to remain in their jobs for just 12-18 months on average. A new approach to...
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Introduction It's no surprise that banks, institutions, and money managers struggle to find and retain talent. In its 2018 report, Korn Ferry predicted a worldwide talent crunch by 2030, with the effects of a labor shortage being felt as early as 2020. The report mentioned that the financial services sector would be among the most brutal hit, and it could result in $435 billion in unrealized economic output for...
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Addressing Healthcare Staffing Shortages with RPA Healthcare staffing shortages for clinical and non-clinical positions are creating significant challenges for the healthcare industry, and the COVID pandemic has exacerbated the issues in numerous ways. The pandemic put healthcare systems and workers under enormous pressure. However, with the spotlight cast upon it over the last few years, it is now racing to embrace new technologies that will help accelerate...
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