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Big Data

UQ

Digital service transformation trends

Five ways to stay competitive in 2024 and beyond The digital transformation sweeping the world is revolutionising how we live and work, fuelled by new technologies such as AI, machine learning and automation. Accounting for more than 70 per cent of GDP and 4 in 5 jobs, Australia’s service sector has become a focal point in this change, spurred on by the effects of the COVID-19 pandemic. The University of Queensland (UQ) Business School’s Service Innovation Alliance (SIA) Research Hub is at the forefront of research in this space. Led by internationally recognised experts Professor Janet McColl-Kennedy and Associate Professor Christoph Breidbach, the SIA brought together a roundtable of 64 academic and industry representatives in November 2022, spanning finance, retail, medicine, hospitality, tourism, transportation, construction and more. So, how can leaders refine customer experiences, create service innovations, grow their businesses and effectively manage their workforce through emerging digital technologies? Contributors to the White Paper share their strategies for 2024 and beyond.   #1 Maintaining humanness in the age of digitalisation SIA Research Hub Co-Lead, Professor McColl-Kennedy firmly believes that at the very core of every exciting new technology and bold digital transformation, there must beat a human heart. Preserving a human element is a key consideration for service sector organisations, one that’s critical to human and economic wellbeing. Professor McColl-Kennedy said clear boundaries and human oversight were crucial for the responsible implementation of new digital technology. “We’re arguing that humans and not AI should be at the centre of business activities; that humans need to be in charge, directing and shaping the future,” she said.   As AI learns from humans by observing and repeating their actions, it can be used to perform mundane and repetitive tasks, such as answering frequently asked questions or filtering email spam, and taught to undertake dangerous or dirty activities […]

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Q&A:Dr Paul Flachskampf, CEO, INFORM Australia

AI – It’s been around for a while now. What is all the fuss about? Dr Paul Flachskampf: AI is indeed not a new concept, INFORM has been leveraging these advanced tools to optimise business process for decades, but the excitement and “fuss” we see today stem from the significant advancements made in recent years. AI has evolved to become more sophisticated, capable, and accessible than ever before. It can potentially revolutionise various industries by offering powerful decision-making tools, data-driven insights, and automation that were previously unimaginable. As a result, businesses now have a new tool to optimise their operations, achieve higher levels of efficiency, and gain a competitive edge in the rapidly evolving landscape. What are the benefits for businesses using AI? Dr Paul Flachskampf: Businesses using AI can reap numerous benefits, particularly in manufacturing processes. AI tools offer serial manufacturers (in industries like food, pharma, cosmetics, etc.) precise demand planning, robust production schedules, and realistic plans. By planning against limited, real-world capacities such as materials, machines, and personnel, AI optimises the process order, leading to shorter lead times, higher on-time delivery rates (crucial for contract manufacturers), and improved customer relationships. Leveraging the power of Operations Research, Business Intelligence, and Artificial Intelligence, INFORM empowers Australian and New Zealand businesses to streamline operations, resulting in increased efficiency, enhanced sustainability, and improved profitability. With data-driven decisions enabled by AI-driven solutions, businesses experience improved resilience, agility, and productivity. Do you understand the doubts that exist around the technology? Dr Paul Flachskampf: Absolutely, it’s entirely understandable that doubts and concerns surround the implementation of AI technology. AI is indeed a transformative force that can lead to job changes rather than outright job displacement as is so often depicted in the media. Many job roles will evolve, while others might undergo modifications. For instance, […]