Software is eating the world. Startups become unicorns overnight. Tech giants move into any industry. Autonomous cars make diesel irrelevant. Alternative sources of energy. Smart everything. Data abundance. We are in the middle of a technology revolution. One new concept, however, is corporations starting to imitate best practices of startups and tech giants. Corporate innovation is no longer done by an R&D unit that is separated from the main business.
Spectacular recent developments in Artificial Intelligence (AI) are feeding many fantasies in the world of cybersecurity. Almost everything can be heard on the topic, from the looming obsolescence of even the best defence solutions to an open war between AIs developed by various tech powers – including states. It often feels very complicated for executives to prepare themselves for what’s ahead.
To be honest, I haven’t totally figured out all of the details of the inner workings of the blockchain technology. And, I do not think I will ever try to as some of it is very technical. I also do not believe that Procurement professionals should do it either. However, it is important to understand the implications of the blockchain technology. Because of the way the blockchain works, it has unique characteristics that represent a breakthrough with tremendous value for Procurement.
A lot is being read, written or heard about GDPR – it’s relevance, implications to institutions that collect personal data, and ramifications of non-compliance. Therefore, this will not deal with any of these in detail. Keeping it simple we will try exploring 4 specific impact points within financial institutions because of this regulation, and therefore what changes this may ask to be brought about in systems, while meeting its terms under the 99 articles that GDPR comprises of.
During a recent conversation with a family member about the data-age, she shared with me that she never thought there would be so much data at her fingertips -- anything and everything you could ever think of. We both agreed that no matter what “data” was available through online resources, friends, for example, nothing would take the place of experiencing first-hand what you just Googled.
But just how good are we at adapting to change, modifying our habits, or expanding our minds, especially as we get older? The answer is that we’re pretty good at it if we choose to be.
Not long ago the prevailing scientific powers believed that we are born with a brain that undergoes great change in infancy and early childhood, but then prunes down to the executive organ we have throughout our lives.
Anyone with a little bit of experience in business has heard of the Pareto (or 80/20) “rule.” And this principle drives how organizations are targeting their efforts towards areas that would maximize results. With limited (finite) resources, it is logical to focus them on activities that have the highest impact/value.
Procurement is no stranger to this approach. Focusing on the 20% of the supply-base that makes 80% of an organization’s spend is a strategy and method that is very common, and that also makes sense from a pure “economical” standpoint.
The traditional role of the CISO is changing.
It is being challenged by emerging new regulations such as GDPR, which are impacting all industry sectors, and the arrival on the scene of the new role of the DPOin many firms.
Much has been written about current middle management roles becoming increasingly irrelevant,ANZ's Digital Chief Maile Carnegie a few months ago famously referring to the 'frozen middle' who "have graduated from doing to managing and basically bossing other people around and shuffling Powerpoints", who also "resist change like death." Carnegie highlighting the importance of distributed leadership and del