Deloitte Trends Excerpts

Been a while since I have taken a look a Deloitte trends work.  Had several connections there. Here is a short overview of the latest, worth a further look.

Tech Trends 2023,    The technology forces shaping tomorrow

Deloitte Insights

Helping future-focused leaders navigate what's next, Unleashing value from digital transformation: Paths and pitfalls,  Our research reveals how certain actions can increase digital transformation value—and, just as importantly, how they can erode it.

ARTICLE

Staying ahead of the sustainability curve

Explore what sustainable businesses are doing to stay ahead of the curve and how strategic foresight is shaping sustainability in business.

ARTICLE

Illustration of man managing different data inputs

Digital frontier: A technology deficit in the boardroom

Deloitte's new research of global directors and corporate leaders uncovers gaps in board engagement on digital transformation and technology topics

Intelligent enterprise fueling the supply chain of the future

Advanced digital technologies can redefine how an enterprise operates to create an agile and disruption-proof supply chain

ARTICLE

Economics spotlight: The (true) cost of a low-carbon future

Do standard measures of economic growth accurately capture the economic impact of climate change policies? 

Top 10 Reading Guide

Explore the top business insights your peers are reading this quarter.

TRENDING INSIGHTS

The workforce well-being imperative

ARTICLE

What does it take to run a metaverse?

ARTICLE

Managing workforce risk in an era of unpredictability and disruption

ARTICLE

Talent/workforce, Digital transformation, Diversity, equity, and inclusion

2023 TRENDS REPORTS

What are the key trends, challenges, and opportunities that may impact your business and influence your strategy in the coming year? Explore our 2023 trends series below for perspectives and insights.

Digital Media Trends, Government Trends, Human Capital Trends

Global Marketing Trends, Tech Trends, TMT Predictions

MORE FROM DELOITTE INSIGHTS

Deloitte Insights Magazine

Issue 31: Capacity for change

Deloitte Insights Podcasts

Hear from influential voices on the business trends and challenges that matter most to you  ... '

Deloitte Resilience Podcast

Overall have liked the Deloitte writings on corporate strategic responses and risk analysis.

Resilient podcast: How businesses can confront the COVID-19 crisis
Actionable insights to help businesses respond and recover
In this special edition Resilient series, we shift our focus to the evolving COVID-19 crisis. From supply chain disruptions and economic scenarios to remote working challenges and crisis response strategies, these episodes feature actionable insights from leaders to help you think through what to do now—and next.

Recovering losses: A business perspective on expediting financial recovery
As the economic impact of the coronavirus pandemic continues to grow, many business leaders may be trying to understand the magnitude of their organizations’ financial losses. But attempting to quantify incurred loss during an ongoing and evolving crisis is nearly impossible—only after it’s over can the full business impact be determined. What steps can companies take now to calculate and recover losses sustained from the COVID-19 crisis? This episode of Resilient features Katie Pavlovsky, principal with Deloitte Risk & Financial Advisory, and Vincent Morgan, partner, Insurance Recovery and Advisory at Pillsbury Winthrop Shaw Pittman LLP. Together they explore what company executives may be able do to better to understand loss exposure and recovery coverage in the near-term, and how they might tap into potential relief. They also discuss the importance of cross-functional collaboration and data-driven analyses when evaluating the impact. And in a world where little is predictable, they share insights on how business leaders may be able to identify and plan for ongoing risk related to the crisis.
Business leaders in this episode:

Vincent Morgan, partner, Pillsbury Winthrop Shaw Pittman LLP
Katie Pavlovsky, principal, Deloitte Risk & Financial Advisory

----

Economic stimulus: Exploring the impact of phase three and beyond
The US government continues to execute on its multi-phased plan for providing economic relief to the many individuals and organizations impacted by COVID-19. Its most recent legislation (phase 3.5), earmarks an additional $484B for the Paycheck Protection Program, hospitals, and COVID-19 testing. In this episode, three Deloitte leaders share insights on the likely collective impact of the government relief packages to date, as well as the business and economic implications of the most recently enacted legislation. They also look ahead to the next wave of stimulus (phase 4.0), exploring how this developing legislation may help spur economic recovery for businesses and consumers. As the US Congress considers potential tax policy changes and funding for infrastructure enhancements to support telehealth, telework, tele-education, rural broadband, and more, we discuss how business leaders might consider the possible opportunities and risks related to these various sources of aid. ... "

Deloitte Insights on the Future of Work

Useful thoughts via Deloitte.

Future of work
The future of work is being shaped by two powerful forces: The growing adoption of artificial intelligence in the workplace, and the expansion of the workforce to include both on- and off-balance-sheet talent. What changes could be in store for the workplace, the workforce, and the nature of work itself?  .... "

Further framework info in PDF.

Healing a Supply Chain with Machine Learning

Some instructive thoughts about direction.  Finding patterns in anything can be a first step to its improvement.

How machine learning can heal a supply chain   By Polly Mitchell-Guthrie

" ..... Machine learning opportunities in supply chain are abundant – improving forecast accuracy, inspection of physical assets, improved modeling for new product introductions, predictive asset maintenance, and great visibility across the collaborative supply chain network are a few. In fact, Deloitte has proclaimed that the days of “cognitive planning” are upon us, where computing advances, the maturation of machine learning, and the data available in connecting systems enable this step. They have christened it “synchronized planning,” a world in which data can constantly flow throughout the supply chain and allow organizations to far more accurately match production of supply to demand than ever before.

At my own company, Kinaxis, we use a related term, concurrent planning, to illustrate the importance of being able to plan, monitor and respond to changes across the supply chain in a single, harmonious environment. Based on the foundation of data in our in-memory database, we launched our own machine learning journey.

Our focus is to increase the efficiency of the supply chain for our customers, and when analysis of data from a major customer revealed that 53 percent of their lead times were wrong as designed, we started there.  ....  " 

State of AI in the Enterprise

Useful view from recent surveys Deloitte in 2017 and 2018 by Deloitte.

Irving Wladawsky-Berger reports on The State of AI in the Enterprise

A few months ago, Babson College professor Tom Davenport gave a talk on the state of AI in the enterprise at the annual conference of MIT’s Initiative on the Digital Economy.  His talk was based on two recent US surveys conducted by Deloitte, the first one in 2017 followed by a second in 2018.  Davenport was a co-author of both reports.

The 2017 survey was focused on the responses of 250 US executives who were leading the applications of AI in their companies.  The larger 2018 survey reached out to 1,100 IT (46%) and line-of-business (54%) executives from US-based companies (64% at the C-level) and 10 different industries.  All of these respondents were early AI adopters compared with their counterparts in an average company, - 90% were directly involved in their company’s AI projects, and 75% said that they had an excellent understanding of AI.

Davenport started his talk by summarizing the key findings in the Deloitte surveys:

20-30% of enterprises are early adopters, having implemented at least one AI prototype or production application;

Many projects are in pilots but some are already in production;
Relatively simple low hanging fruit projects prevail over more ambitious and complex moon shots;
Only 24% cited “reducing headcount through automation” as one of their top AI priorities;
The great majority of respondents believe that AI leads to moderate or substantial changes in job roles and skills;

Implementation, integration, data issues and talent top the list of challenges faced by early adopters;
Further AI growth is inevitable.

Overall, the 2018 survey found that “Early adopters are ramping up their AI investments, launching more initiatives, and getting positive returns.”  Compared to executives in average companies, early adopters have been implementing key AI technologies at a growing rate, including machine and deep learning, natural language processing and computer vision.  63% of respondents had adopted machine learning, an increase of 5% over the 2017 survey and 50% were using deep learning.  62% had adopted natural language processing, compared to 53% in 2017, while 57% were using computer vision.  .... "

Deloitte Launches Blockchain Demonstrator

Helpful idea to have out there, since the process involved is still mysterious to many.

Deloitte launches ‘Blockchain in a Box’ hands-on demonstrator
The consultancy said a modular computing system will enable hands-on testing of the distributed ledger technology by enterprises hoping to get a grasp on what it can, or cannot, do.
           
Lucas Mearian By Lucas Mearian in Computerworld   Senior Reporter, Computerworld

Consultancy Deloitte this week unveiled a mobile, self-contained computing platform that can be used to host a blockchain network on a small-scale so companies can test its capabilities.

Called "Blockchain in a Box" (BIAB), the platform consists of four, small-form-factor compute nodes, three video displays and networking components that can be connected to external services such as cloud providers.   .... " 

AI and Taxes

Reading the rest to determine how this is done.  Via determining algorithms via machine learning.  Note also the insertion of 'jurisdictional rules'

Deloitte uses AI to transform indirect tax recovery

Tax technology spotlight: CognitiveTax Insight™ solution uses machine learning and analytics to transform the tax office, saving time and reducing overpayments

NEW YORK, Aug. 8, 2019 /PRNewswire/ -- For decades, tax professionals have managed the analysis of complex data for indirect tax recovery through time-consuming statistical analysis and sample sets. Due to the sheer amount of data and complex jurisdictional rules, it was nearly impossible for many companies to analyze all indirect tax transactions. As a result, significant indirect tax refunds may not have been claimed. However, technological breakthroughs of the last few years are making this a challenge of the past. Deloitte has deployed a technology-enabled solution — CognitiveTax Insight™ (CogTax) — that provides an increased, improved, and more efficient analysis of clients' indirect tax data set. CogTax has the ability to analyze the full population, if desired, of a clients' accounts payable transactions compared to a traditional, sampled approach.

The solution not only allows tax professionals to save time and resources but can help companies to proactively avoid overpaying their indirect tax liabilities. CogTax leverages optical character recognition (OCR), along with advanced machine learning algorithms and analytics, to effectively analyze a full population of data and documents to assist clients with indirect tax overpayment recovery and reduce the potential for future over or underpayments.  ... " 

Pervasive Intelligence Signals

Everywhere, thus most importantly in context, on the edge.   It is getting there. 

Pervasive intelligence
Smart machines everywhere

By David Schatsky, Jonathan Camhi, Aniket Dongre     Deloitte

​Everything is getting smarter, as new AI technology empowers an ever-widening range of devices to learn from experiences, adapt to changing situations, and predict outcomes. Companies are already exploring opportunities.

ADVANCES in artificial intelligence (AI) software and hardware are giving rise to a multitude of smart devices that can recognize and react to sights, sounds, and other patterns—and do not require a persistent connection to the cloud. These smart devices, from robots to cameras to medical devices, could well unlock greater efficiency and effectiveness at organizations that adopt them. That’s only part of the story. In some industries, they may also change how profits are divided.

Signals

AI software providers are tailoring their AI models and algorithms for deployment on machines and devices outside the data center.

Chip manufacturers are increasingly embedding support for AI directly into devices

AI chips are being developed that can perform complex computations but consume minute amounts of power in some cases, measured in microwatts.

Machines with embedded AI are beginning to appear in many industries, including logistics, manufacturing, agriculture, transportation, and health care.

Annual shipments of devices with embedded AI are projected to increase from 79 million last year to 1.2 billion in 2023.

Advanced hardware is propelling AI out of the data center:  .....

Automation ROI

Perspectives on value measurement, when and how.

Measuring Automation ROI  by Deloitte

Maximizing your mileage...

Taking a strategic, holistic approach to automation ROI during the planning phases helps to build a more robust business case, demonstrating how enterprise automation can drive competitive advantage and how you’ll save money.  ... "

Operations and Predictive Analytics

Useful to think about operations.   Prediction implies we can adjust operations within a process based on future predictions.   Risk also come forward because of inaccuracy of predictions.

Predictive analytics in hybrid IT: The future of ops in TechBeacon   By David Linthicum, Chief Cloud Strategy Officer, Deloitte Consulting

The predictive analytics systems of today and tomorrow will change the way we do operations. We will know how system modifications will affect IT operations, security, and governance risks. We'll also learn how to automate forthcoming complexity in ways that are cheaper and less risky, and we will have the ability to proactively plan for three years into the future.

The growth of complexity in both on-premises and public cloud platforms, or in hybrid IT, is obvious to everyone at this point. Ops-related predictive analytics means the ability to leverage AI and big data in new, more efficient ways to deal with their increasing complexity. 

So, are you in? Most people in IT operations management, including cloud and traditional, see the value of systems that can literally predict the future. Apply that magic to IT Ops, and you have the ability to solve problems before they become known problems, perhaps problems that are never known to humans.

However, the costs of leveraging predictive analytics with ops are going up. This is true even with the use of the public cloud and its ability to leverage newer tooling and data sources. You'll need upgraded skill sets, expensive tooling replacements and upgrades, and, initially, more people at the helm.  ...  "

Future of the Firm

In O'Reilly, about the firm, its future, and who is doing the work.  Today often part-time.  A considerable piece with lots of links to related work.

Future of the firm
Mapping the complex forces that are reshaping organizations and changing the employee/employer relationship.

By Josh Bersin, Tim O'Reilly, Roger Magoulas, Mike Loukides:  March 12, 2019

Future of the Firm

We’re excited that O’Reilly Radar is partnering with Josh Bersin to cover topics like organizational learning, workforce expectations, adapting to digital transformation, and leveraging technology for human resources—all topics related to the future of the firm. Bersin has a long history of providing prescient advice on the human side of what organizations need to tackle the changing technological landscape they face. You may know him from the research reports he developed at Bersin by Deloitte.

A downloadable edition of "Future of the Firm" is also available.

The “future of the firm” is a big deal. As jobs become more automated, and people more often work in teams, with work increasingly done on a contingent and contract basis, you have to ask: “What does a firm really do?” Yes, successful businesses are increasingly digital and technologically astute. But how do they attract and manage people in a world where two billion people work part-time? How do they develop their workforce when automation is advancing at light speed? And how do they attract customers and full-time employees when competition is high and trust is at an all-time low?

When thinking about the big-picture items affecting the future of the firm, we identified several topics that we discuss in detail in this report: ... " 

Deloitte on AI Getting More Pervasive

A Sponsored piece by Deloitte in the HBR on how Ai is getting more pervasive.   Well done:

AI Is Not Just Getting Better; It’s Becoming More Pervasive

 Advances in artificial intelligence (AI) software and hardware are giving rise to a multitude of smart devices that can recognize and react to sights, sounds, and other patterns—and do not require a persistent connection to the cloud. These smart devices, from robots to cameras to medical devices, could well unlock greater efficiency and effectiveness at organizations that adopt them.

But that’s only part of the story. In some industries, smart machines may well help expand existing markets, threaten incumbents, and shift the way revenue and profits are apportioned among industry players.

Rapid strides in technology and the growing investment in AI innovation signal how fast AI deployment is moving. Advances in software and hardware are propelling AI outside of the data center into devices and machines we use in our work and our everyday lives. .... "

Intuitive Enterprise

Think about 'intuitive' as being like cognitive.   Its a form of augmentation, another means generating potential solutions, then testing them.  Testing can be formally numerical, in an analytic sense,  simulations to help understand it in operation, or it can further be intuitively examined to be filtered into other potential directions.

Implementing the Intuitive Enterprise    by Deloitte
We've Reached an inflection point in the way that work, well, works.

That’s thanks to the sheer amount of data available today: According to one report, the world created 16.1 zettabytes of data in 2016 (for context, one zettabyte equals 36 million years of HD video). What’s more, emerging technologies can use all of that data (to store, to learn from, and, in some cases, to act from), challenging the traditional workflow with which many of us are comfortable.

“Within the next few years we will see the redesign of many of our jobs across all industries and around the world,” says Jeff Schwartz, Deloitte Consulting LLP’s U.S. leader for the future of work and global leader for human capital marketing, eminence, and brand. “Entire workforces and workplaces will be reconfigured around technology and new ways of working.”

Workplace change—and the fear associated with it—isn’t a new narrative. The first time that automation threatened our jobs was back in the 1700s, with the advent of the Industrial Revolution. But fears were quelled when new types of jobs—and the factories that provided them—arose. Then, as automation increased in the 1980s, available jobs in industries that were driven by the Industrial Revolution (like manufacturing) dipped. Still, overall employment rose. ... " 

Today, technologies—such as advanced computational power and machine learning, to name a few—again threaten to supplant human workers. These technological advancements are sure to create changes as radical as those experienced in the 18th century (it’s already happening). But workers shouldn’t be afraid. Today’s emerging technologies will free up time to guide the change in ways that are creative and customer-focused. This won’t happen organically, however. As automation and digitization accelerate, organizations must accept and adopt technological advancements if they hope to remain relevant. They must change their mindsets. ... "

Deloitte on Humans and Automation.

Trends and forecasts.

AI, robotics, and automation

​As AI and other advanced technologies permeate the workplace, skills such as critical thinking, creativity, and problem-solving gain in importance. Leading companies are recognizing that these technologies are most effective when they complement humans, not replace them.

Trend Analysis
Respondents have a clear understanding of the human skills needed to manage AI, robotics, and automation, such as complex problem-solving, cognitive abilities, and social skills. Yet many also said they do not have a plan to cultivate these skills.

Expected emphasis on workforce skills as AI/robotics are integrated in the enterprise ... "

Deloitte Cognitive Tech Survey

Deloitte provides some interesting data on Cognitive via survey

2017 cognitive technologies survey

Early adopters speak out on cognitive and AI
​What do the most aggressive adopters of artificial intelligence (AI) and cognitive technologies report based on their efforts to date? On everything from the impact on jobs to their specific goals and exactly which technologies they're using and much more, 250 leaders shared their views on this important business development just as it takes hold in the broader business world. ... " 

Job Losses and Automation

Basically, we don't know the numbers, the complexity of the system involved is large.

Statistics on job losses due to automation are sensationalist: Anthony Schofield, Deloitte   By Prachi Verma

WorkFusion

Continue to look at means to automate the specific process of business. Making it better, faster, cheaper. And ultimately include intelligent and cognitive elements to streamline and have these systems adapt to context.  I see that Deloitte is a partner.

Brought to my attention: WorkFusion.

NEW YORK, July 18, 2017 — WorkFusion today released Intelligent Automation 2017 Sunbird, a comprehensive product update that enables WorkFusion customers to automate more work with less effort and easily scale the benefits of automation across a business. Sunbird brings more of WorkFusion’s vision of low-code RPA and cognitive automation into reality and makes its flagship product, Smart Process Automation (SPA), faster, simpler, more scalable and more secure.

“We created Intelligent Automation 2017 Sunbird update in collaboration with our customers,” says WorkFusion’s Head of Product, Mikhail Abramchik. “Their feedback inspired us to build features and improvements to make our product easier to use and more efficient.”

Key customer-driven benefits of the Sunbird update release include:
• Cognitive bots that learn 8 times faster, delivering automation quicker
• More out-of-the-box use cases for faster, easier deployment
• RPA recorder to create bots without coding
• RPA API and universal driver means 50% less effort for surface and Excel automation
• Best-in-class password vault for enterprise-grade security
• Load balancing to eliminate redundancy, which reduces infrastructure cost

These improvements translate to a better experience for WorkFusion’s customers across the boardfrom business users to developers to the C-suite. A simpler process for setting up cognitive bots allows business users to automate more with less coding, while enhanced developer tools and OCR plugin reduce the time and resources developers spend on RPA coding. From an executive perspective, all these enhancements help to scale Intelligent Automation across an entire operation to meet pressing transformation goals, which means increased ROI and better service delivery.

Says Abramchik: “We’re proud to say that Intelligent Automation 2017 Sunbird offers more possibilities to transform and reinvent businesses than any other RPA or cognitive automation product on the market today.”

About WorkFusion
WorkFusion Intelligent Automation empowers enterprise operations to digitize. WorkFusion delivers the quick wins of robotic process automation (RPA) and the longer-term transformation and ROI of AI-powered cognitive automation through products purpose-built for enterprise operations. The world’s leading global banks, insurance, healthcare companies, and BPO firms use WorkFusion Intelligent Automation to become leaner, more productive and agile.  .... " 

Disruption is not the Measure

Sometimes all I hear is disruption, but it is not all there is, and itself is not a measure.  We made money for many years on improvement alone.  So look for disruption, but include hints to value along the way.  By Deloitte in the WSJ:

Disruption Is Not the Key to Winning
Companies can create competitive advantage by leveraging digital technologies to provide exceptional experiences for customers. Six enablers can help.

“Disruptor” is a term used frequently to describe successful modern companies. Airbnb is often credited with disrupting the lodging industry, Uber is cited as a disruptor of the transportation business, and Amazon is widely seen as disrupting retail. Yet while these companies have certainly transformed their industries through innovative business models, disruption isn’t the yardstick for measuring success.  ... " 

Retailers Losing Digital Control

Deloitte: Retailers are Losing Digital Control
A new study by Deloitte showed that 56 cents of every dollar spent in stores is influenced digitally. By Evan Clark  ....  ".   I am personally surprised it is not a larger percentage.

Digital Defining the Shopping Experience

Discussion of interest regarding a Deloitte study.  In RetailWire:

Is digital defining the shopping experience?   by Tom Ryan

According to a new Deloitte study, digital platforms such as Facebook and Google “are operating at such scale now that they are shaping customers’ definitions of what a great customer experience is.”

The study, “The New Digital Divide: The future of digital influence in retail,” pointed to the limitations of a single retailer creating a “meaningfully personalized experience” with its customers. They estimated that the customer likely interacts with a retailer six to eight times per year and mostly in a transactional manner.  .... "