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Organizations Combining Organizational Learning and AI-Specific Learning Are up to 80% More Effective at Managing Uncertainty

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New MIT SMR and BCG Research Quantitatively and Qualitatively Links Organizational Learning, AI-Specific Learning, and the Ability to Manage Rapidly Changing Business Environments

BOSTON, Nov. 12, 2024 /PRNewswire/ — Addressing uncertainty is a critical challenge for leaders today as geopolitical tensions, shifting consumer preferences, talent disruptions, evolving regulations, and rapid technological advancements increasingly complicate the business landscape. According to a new report by MIT Sloan Management Review (MIT SMR) and Boston Consulting Group (BCG), artificial intelligence, a major source of uncertainty in its own right, is essential for meeting this challenge.

The report, Learning to Manage Uncertainty, With AI, presents findings from the eighth annual global research study on artificial intelligence and business strategy by MIT SMR and BCG. It draws from a global survey of 3,467 respondents across 21 industries and 136 countries, along with interviews with nine executives leading AI initiatives in sectors such as financial services, technology, retail, travel, transportation, and health care.

“AI adoption jumped 20% last year, driven by interest in generative AI, as 91% of organizations now expect GenAI to be core to the strategy in at least parts of their organization,” said report coauthor Sam Ransbotham, professor at Boston College. “This increased AI use isn’t causing workers to panic about their jobs, with respondents far more hopeful (84%) than fearful (20%). Instead, augmenting organizational learning with AI-based learning enhances the knowledge capture, synthesis, and dissemination that organizations depend on to manage the myriad uncertainties they currently face.”

“Our previous research found that organizations with superior learning capabilities are more likely to obtain significant financial benefits from their AI use,” said Shervin Khodabandeh, a BCG managing director, senior partner, and coauthor of the report. “Now we find that the reverse is also true. Using AI can improve organizational learning capabilities, and these learning improvements are tied to not only enhanced financial results but also the ability to manage strategy-related uncertainties.”

Most Organizations Lack Strong Learning Capabilities Despite Facing Widespread Uncertainty

The report defines organizational learning as “an organization’s capability to change its knowledge through experience.” The research finds that organizations that combine organizational learning with AI-specific learning outperform organizations that do neither or employ either alone.

Of the companies surveyed, 59% reported low levels of both organizational and AI-specific learning and only 29% of respondents say their company has strong organizational learning.

Organizations Combining AI and Learning See Greater Success  

According to the report, 15% of organizations integrate AI into their learning capabilities. These organizations — referred to in the report as Augmented Learners — are:

1.6 times more likely than those with limited learning capabilities to manage various environmental and firm-specific uncertainties, including unexpected technological, regulatory, and workforce changes.Twice as likely to be prepared to manage talent-related disruptions compared with organizations that have limited learning capabilities.60% to 80% more likely to be effective at managing uncertainties in their external environments than Limited Learners—companies with limited learning capabilities.1.4 times more likely to recognize some revenue benefits from AI compared with Limited Learners.

Augmented Learners Are Prepared to Manage Many Types of Uncertainty

Organizational learning and AI-specific learning (augmented learning) help enterprises manage uncertainty and disruptions from talent mobility, changing technology, and evolving regulatory and legal requirements. The survey results show a clear link between organizational learning and preparedness for talent mobility disruptions. Only 39% of Limited Learners feel ready to manage knowledge loss from departing employees, while this rises to 64% in those with strong learning capabilities. Using AI can further contribute to this readiness: Eighty-three percent of Augmented Learners are prepared to deal with the uncertainty of knowledge disruption from talent mobility—twice as much as Limited Learners.

Compared with Limited Learners, Augmented Learners are significantly more likely to be prepared to deal with uncertainty from technology disruptions (86% versus 49%) and regulatory disruptions (79% versus 48%). On the regulatory front, large organizations with global operations can use AI to navigate complex, uncertain regulatory frameworks that vary from one country to the next. Augmented learning organizations have an advantage here because they have abilities that those unable to learn with AI lack.

“This research demonstrates that human users can use AI to make sense of the business environment in new ways,” said David Kiron, a report coauthor and editorial director, research, at MIT Sloan Management Review. Both organizations and managers can become better learners with AI. That is arguably at least as important as using AI to create efficiencies.”

“Companies can adopt five practical and actionable strategies to enhance their organizational learning through AI,” said Leonid Zhukov, vice president of data science at BCG and a coauthor of the report. “These strategies include fostering growth in both organizational and AI-driven learning, leveraging AI to drive exploration, accelerating learning with AI, selecting initiatives that support continuous learning, and ensuring responsible and ethical AI usage.”

The State of AI in Business

Since 2017, MIT SMR and BCG have tracked AI implementation in business as part of an ongoing research program. The report details evidence of other trends in AI use in business beyond the relationship between AI use and organizational learning:

Interest in AI, Especially GenAI, Is Increasing. Since 2017, AI adoption has been relatively stable, but this year, 70% of organizations report piloting or deploying AI solutions, up from 44% to 57% in previous years. More than 54% of organizations are now piloting or deploying GenAI solutions.GenAI Is Drawing Attention. Ninety-one percent of organizations report that their leadership expects generative AI to be a core element of their business strategy in at least some of their business units in the next three years. While 26% of organizations surveyed feel GenAI is diverting funds from traditional AI initiatives, 51% report that it is expanding their overall AI budget. Only 11% find it distracting, and just 13% believe their organization is overly focused on it.Hopes for AI Are Outpacing Fears. In 2024, 84% of respondents are hopeful that AI can assist with some of their tasks, up from 70% in 2017, while only 20% are fearful that AI will assume some of their tasks, down from 31%.Emergence of GenAI Upsets Strategic Plans for AI Use. Since 2020, MIT SMR and BCG have tracked AI’s importance in business strategy. In 2020, 41% of respondents viewed AI as core to their strategy, rising to 61% by 2023. However, in 2024, only 38% consider AI to be core, likely due to the impact of GenAI as executives reassess its role in their strategies.

Download the publication here: https://www.bcg.com/publications/2024/manage-uncertainty-with-organizational-learning-ai

Media Contacts:

Eric Gregoire:
+1 617 850 3783
gregoire.eric@bcg.com 

Tess Woods:
+1 617 942 0336
Tess@TessWoodsPR.com 

ABOUT BOSTON CONSULTING GROUP
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

ABOUT MIT SLOAN MANAGEMENT REVIEW
At MIT Sloan Management Review (MIT SMR), we explore how leadership and management are transforming in a disruptive world. We help thoughtful leaders capture the exciting opportunities—and face down the challenges—created as technological, societal, and environmental forces reshape how organizations operate, compete, and create value.

MIT SLOAN MANAGEMENT REVIEW: BIG IDEAS
MIT Sloan Management Review’s Big Ideas Initiatives develop innovative, original research on the issues transforming our fast-changing business environment. MIT SMR conducts global surveys and in-depth interviews with frontline leaders working at a range of companies, from Silicon Valley startups to multinational organizations, to deepen our understanding of changing paradigms and their influence on how people work and lead.

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SOURCE Boston Consulting Group (BCG)

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Activeport’s bold capital strategy fuels path to innovation and growth

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SYDNEY, Nov. 14, 2024 /PRNewswire/ — Activeport Group Ltd (ASX:ATV) has successfully closed its renounceable rights issue, raising approximately $3.1 million before costs. With a possible $1.5M offered into the placement by fund manager MWP Partners and its associates in Hong Kong, the total of up to $4.6M is close to the maximum possible under the offer of $5.3M.

This significant new capital inflow paves the way for Activeport to rapidly expand sales capacity to generate new revenue from its network orchestration software. Notably Activeport Company Directors and management demonstrated confidence by fully subscribing to their entitlements, underscoring their commitment to Activeport’s long term vision.

Activeport Chairman and CEO Peter Christie “We would like to extend our gratitude to existing shareholders for their participation, and warmly welcome our new investors. This is an exciting time in Activeport’s growth, and we look forward to realising our strategic goals with their support.”

Activeport recently launched its SaaS business in Australia in conjunction with FibreconX. The combination of Activeport’s software and the FibreconX network offers new connectivity solutions for consumers of data centre capacity in Australia, a market that is booming from the AI revolution. Internationally, Activeport is deploying its software to major telecommunications carriers, data centre operators and sub-sea fibre owners that are also growing exponentially with the demand generated from AI.

The funds raised in this Rights issue will be strategically allocated to scale Activeport’s operational capabilities to take advantage of the unprecedented growth in demand for its network orchestration software across the data centre and telecommunications industries.

New securities will be issued on November 13th, 2024, with the Directors holding the flexibility to place any shortfall within three months.

About Activeport

Headquartered in Australia, Activeport develops automation software and customer self-service portals for global telecommunication providers. The Activeport product suite enables network automation, minimising operational costs, accelerating ‘time to revenue; and improving customer experience. 

For more information: https://www.activeport.com.au 

View original content:https://www.prnewswire.com/apac/news-releases/activeports-bold-capital-strategy-fuels-path-to-innovation-and-growth-302304094.html

SOURCE ActivePort

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Resideo to Participate at Upcoming Investor Conferences

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SCOTTSDALE, Ariz., Nov. 13, 2024 /PRNewswire/ — Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer and distributor of technology-driven products and solutions that provide home comfort and smart living, security, life safety and energy efficiency to consumers and businesses, today announced that it is scheduled to participate at the following investor conferences.

NYSE Industrials Conference (Virtual) on Tuesday, November 19, 2024.

Wells Fargo TMT Summit in Rancho Palos Verdes, CA on Tuesday, December 3, 2024.

Bank of America Leveraged Finance Conference in Boca Raton, FL on Wednesday, December 4, 2024. Mike Carlet, Resideo’s Chief Financial Officer, will participate in a fireside chat starting at 10:50AM ET

Raymond James TMT and Consumer Conference in New York, NY on Tuesday, December 10, 2024. Mike Carlet, Resideo’s Chief Financial Officer, will participate in a fireside chat starting at 10:40AM ET.

The fireside chats will be webcast live and available for replay on the Investor Relations page of the Resideo website at investor.resideo.com and archived on the Investor Relations page for a period of 30 days.

About Resideo
Resideo is a leading manufacturer and developer of technology-driven sensing and controls products that provide critical comfort, energy, smoke and carbon monoxide detection home safety products and security solutions to homes globally. We are also a leading wholesale distributor of low-voltage security products including access control, fire detection, fire suppression, security, and video products, and participate significantly in the broader related markets of, communications, data communications, networking, power, residential and professional audio-visual solutions, smart home, and wire and cable. Our global footprint serves both commercial and residential end markets. For more information about Resideo, please visit www.resideo.com

Contacts:

Investors:

Media:

Christopher T. Lee

Garrett Terry

Global Head of Investor Relations

Corporate Communications Manager

investorrelations@resideo.com

garrett.terry@resideo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/resideo-to-participate-at-upcoming-investor-conferences-302304773.html

SOURCE Resideo Technologies, Inc.

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TTEC Celebrates Growth in India with Milestone Anniversaries

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Company marks one year of operation at its Mumbai Customer Experience Center and Digital Innovation Studio in Hyderabad

DENVER and MUMBAI, India, Nov. 14, 2024 /PRNewswire/ — TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global CX (customer experience) technology and services innovator for AI-enhanced CX with solutions from TTEC Engage and TTEC Digital, is marking a significant year of growth in India with the one-year anniversaries of two key facilities: its Mumbai Customer Experience Center and Hyderabad Digital Innovation Studio.

TTEC has been operating in India for 24 years providing support to large global brands through its care, back office, trust and safety, and content moderation capabilities, and more recently with its CX technology talent. Over the past year, TTEC has significantly grown its footprint in India, adding 800 positions to support the new facilities in Mumbai and Hyderabad with plans for more growth in 2025. TTEC has approximately 3,500 employees in total in the country, including its sites in Ahmedabad and Chennai.

Mumbai Attracting New Clients from Across the Globe

TTEC’s Customer Experience Center in Mumbai has been instrumental in delivering world-class customer support and enhancing operational efficiency for its global clients. The center’s diverse and skilled workforce continues to meet the growing demand for innovative customer service solutions with voice and back-office capabilities for multiple global industries including healthcare, banking, financial services, insurance, and tech support. 

India has long been a global leader in the BPO sector, and today’s advanced, AI-driven environment is attracting a new generation of skilled professionals,” said TTEC Engage Senior Vice President of Asia Pacific Operations Arnab Ray. “Our talented, multilingual workforce is well-positioned to deliver innovative CX solutions, making India an essential and important hub for meeting the evolving needs of our global clients. We’re proud of our team here and remain poised to lead in this AI-enabled CX ecosystem.”

Hyderabad is India’s Digital Hub

Meanwhile, the TTEC Digital Innovation Studio in Hyderabad has emerged as a leading hub for talent across CX hyperscaler platforms and other leading technology and disciplines, uniting experts in Contact Center, CRM, and AI & Analytics to power modern customer experiences. The studio is also a key driver of TTEC Digital’s bespoke software IP that is creating value with transformation services and customized solutions that help clients improve their customer experiences and streamline operations.

“Our Innovation Studio is a testament to the incredible talent and creativity of our team in India,” said TTEC Digital India Leader and Group Vice President of Global Delivery Amol Gupta. “They are at the leading edge of advanced AI, automation, and analytics which are at the core of every CX transformation project we deliver. Their technical expertise and innovative spirit allow us to deliver on any platform, in a globally integrated, value optimized way that helps our clients stay ahead in a rapidly evolving market.”

Creating Opportunities for Professionals and Communities

Both new facilities reflect TTEC’s dedication to creating meaningful job opportunities; nurturing diverse, local talent; and fostering innovation in India’s rapidly evolving CX landscape. TTEC is certified as a Great Place to Work® in India and for the second year in a row HR Asia has recognized it as one of the Best Companies to Work for in Asia. The company provides career advancement opportunities for professionals in areas such as customer service, digital innovation, and IT, all while contributing to the local economies. TTEC’s diverse, highly-skilled workforce in India boasts impressive credentials – 32 percent are women, 82 percent hold degrees, and 21 percent are engineers.

Additionally, TTEC’s India sites proudly give back to their communities. The Ahmedabad Customer Experience Center has held an annual wellness walk for the past 22 years and has raised an estimated $1.8 million for local charities. That site is also one of the largest corporate blood donors for the Gujarat Red Cross and, according to their estimates, their blood donations have saved an estimated 6,900 lives.

To learn more about TTEC India and its award-winning work and workplace culture, visit here.

To learn about our current jobs in India, visit ttec.jobs.com/India.   

About TTEC
TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ: TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital technology, the Company’s TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The Company’s TTEC Engage business delivers AI-enhanced customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the Company’s singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The Company’s employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com.

Media Contact:
Meredith Matthews
meredith.matthews@ttec.com
+1 281-770-2566

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View original content:https://www.prnewswire.com/in/news-releases/ttec-celebrates-growth-in-india-with-milestone-anniversaries-302304769.html

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