Thursday, September 2, 2021

g-f(2)468 THE BIG PICTURE OF THE DIGITAL AGE (9/2/2021), MIT SMR, Portrait of an AI Leader: Piyush Gupta of DBS Bank

ULTRA-condensed knowledge

"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Artificial intelligence (9/2/2021)  g-f(2)426 

Opportunity, Cultivating Broad Experimentation, MIT SMR
  • Piyush Gupta arrived at DBS as CEO in 2009, when the company was ranked lowest in customer service among Singapore banks. Today it ranks as one of the best in service and has greatly expanded its footprint throughout Asia through acquisitions and organic growth. It is the largest bank in Southeast Asia and also has a growing presence in China and India. DBS has won multiple global banking awards. 
  • Early on, one of Gupta’s strategies for AI was simply to start with the technology early and try a lot of different things.
  • He also “opened up the wallet” to AI experimentation by giving business units and functions the flexibility to hire quasi data scientists to see what they could accomplish.
      Opportunity, Bringing Deep Roots in Technology to Banking, MIT SMR
      • Data is what fuels AI, and many companies have had to implement substantial changes in their data environments to make them suitable for aggressive AI initiatives. What’s not common is for the CEO in a large enterprise to lead the data transformation personally. 
      • At DBS, Gupta has led a major transformation in data management. 
      • DBS has also created new governance structures for data. 
      • DBS now employs around 1,000 data and analytics employees, including data scientists, data analysts, and data engineers. 
      • The bank has also trained over 18,000 employees in data skills, creating a company of “citizen data scientists.” 
                            Opportunity, Lessons in AI Leadership, MIT SMR
                            • Gupta’s work with AI demonstrates several lessons that could help leaders at other organizations succeed with AI as well.
                              1. It helps — a lot — to be experienced with information technology. 
                              2. It’s important to work across multiple fronts.
                              3. Leaders hold the power of the purse.
                              4. It’s valuable for a senior AI leader to become personally engaged with some aspect of AI-focused transformation.

                                  Genioux knowledge fact condensed as an image

                                  Condensed knowledge

                                  Lesson learned, Increased AI adoption has not resulted in job losses at DBS, MIT SMR
                                  • About 2,000 employees are proficient in advanced areas of data science and business intelligence, and another 7,000 have been identified to be upskilled in disciplines such as the use of data, analytics, and AI. 
                                  • The bank has been able to create substantial efficiencies with AI in certain areas, such as its customer contact center, using a capable chatbot. 
                                  • However, thus far, increased AI adoption has not resulted in job losses at DBS, in part because people have received training to help them change roles. 
                                  • Gupta acknowledges that while he remains committed to helping his people improve their skills so that they can add value to AI, no one knows just how capable AI will be in the future.

                                  Some relevant characteristics of this "genioux fact"

                                  • Category 2: The Big Picture of the Digital Age
                                  • [genioux fact deduced or extracted from MIT SMR]
                                  • This is a “genioux fact fast solution.”
                                  • Tag Opportunities those travelling at high speed on GKPath
                                  • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
                                  • Type of validity of the "genioux fact". 

                                    • Inherited from sources + Supported by the knowledge of one or more experts.


                                  ABOUT THE AUTHORS

                                  Thomas H. Davenport

                                  Thomas H. Davenport (@tdav) is the President’s Distinguished Professor of Information Technology and Management at Babson College, a visiting professor at Oxford University’s Säid School of Business, a fellow of the MIT Initiative on the Digital Economy, and a senior adviser to Deloitte’s AI and Analytics practice. 

                                  Extracted from Wikipedia

                                  Thomas Hayes "Tom" Davenport, Jr. (born October 17, 1954) is an American academic and author specializing in analytics, business process innovation, knowledge management, and artificial intelligence. He is currently the President’s Distinguished Professor in Information Technology and Management at Babson College, a Fellow of the MIT Initiative on the Digital Economy, Co-founder of the International Institute for Analytics, and a Senior Advisor to Deloitte Analytics.

                                  Davenport has written, coauthored, or edited twenty books, including the first books on analytical competition, business process reengineering and achieving value from enterprise systems, and the best seller, Working Knowledge (with Larry Prusak) (Davenport & Prusak 2000), on knowledge management. He has written more than one hundred articles for such publications as Harvard Business Review, MIT Sloan Management Review, California Management Review, the Financial Times, and many other publications. Davenport has also been a columnist for The Wall Street Journal, CIO, InformationWeek, and Forbes magazines.

                                  Randy Bean

                                  Randy Bean (@randybeannvp) is an industry thought leader, author, and CEO of NewVantage Partners, a strategic advisory and management consulting firm that he founded in 2001. He is the author of the new book Fail Fast, Learn Faster: Lessons in Data-Driven Leadership in an Age of Disruption, Big Data, and AI (Wiley, 2021).

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