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How Big of an Impact Do You Think AI Will Have on Processes in 2018?


There is an interesting discussion initiated by Peter Schooff @bpm.com

How Big of an Impact Do You Think AI Will Have on Processes in 2018?

My Thoughts:

Artificial Intelligence is a multidimensional subject area. It can be broadly classified as a blend of Machine Learning, Predictive/Adaptive Analytics, NLP, Text Analytics, Voice Pattern Recognition, Image Analytics, Deep Learning, Graph Analysis, Robotics and many more.

The current state for adoption of AI complementing Business Processes in an enterprise is a bit chaotic with Discussions, Debate, PoCs, R&D etc. Hopefully, the coming year will embark on a more structured & focused approach(fingers crossed)

From  process impact standpoint, the key topic that will make a difference few years down the line are:

  • Enhanced Decisioning Strategies
  • ‎Predictive / Adaptive Analytics
  • ‎Persona Driven solutions
  • ‎Mature Robotics Process Automation
  • ‎Development of Self Healing Processes
  • ‎Inception of ML & Deep Learning Model driven processes
  • ‎Improvised Customer Experience (personalized) with Data fuelled strategies
  • ‎Reduction of OpEx with automated decisioning & self-healing capabilities
  • ‎Hype & marketing around “touchless” or “zero-touch” implementation e.g Touchless Claim Processing, Zero Touch Onboarding etc.
  • ‎Reduction of Contact Center overheads with Chatbots/Virtual Assistant implementations
  • ‎The AI, IoT & Process interlock can also act as a game changer in certain scenarios
  • ‎BPM products adding yet another capability to their stack as a new feature (be it homegrown or a plug & play model) 🙂

To summarize:

AI implementation is not new for enterprise (processes), they are already doing it in some form or the other (magnitudes may differ). But yes with the buzz in the wild, it has become a checklist mandate and a parameter for competitive advantage. Definitely, with new tools/technologies mushrooming everyday, AI will strengthen/mature & proliferate to unlock tremendous value. Things won’t change overnight to attain the “nirvana” state, it will be a steady incremental approach with a judicious feasibility study.

In a nutshell, irrespective of “getting Robots out of the humans[RPA]” or “humanizing the Robots…..by adding more intelligence[AI/Cognitive]” – the “process” still remains the heart/pulse and the enterprise ecosystem. An inefficient or weak process design is enough to choke the arteries, give cramps or cardiac arrest & dismantle the Humanized Bot

[Artificial Intelligence]:[Brain of the Enterprise] :: [Business Process]:[Heart of the Enterprise]

human-2972206_640Thinking loud based on the above analogous pair:  (pardon me for my knowledge of medical science!! :-))

A human with a non-functional brain & pumping heart(weak/strong) is within the realm of possibility & exists but on the contrary, a human without a heart (natural or pacemaker)  & alive is uncanny!!

In simple words: “The heart can beat without the brain, while the brain cannot function without the heart”

 

How Big of an Impact Do You Think AI Will Have on Processes in 2018? What’s your take?

Happy Learning!! 🙂

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Blockchain Demystified!!


No doubt, features like Decentralized Data Management, Immutability of transactions & Fault Tolerance give unprecedented advantage to organizations adopting it.

But, there are trade-offs which have to be judiciously evaluated. There are scenarios which can pose as overhead for business if not assessed properly. e.g:

  • performance hiccups due to traversal of date across the blockchain and fetching/persisting data;
  • demand for high end infrastructure for Decentralized datastore setup;
  • frequent changes to transaction (unnecessarily increasing the chain)

In summary: it is important to weigh the pros and cons of Blockchain adoption and how best it aligns to the business strategy / futuristic vision & importantly financial mathematics!

Original Article: https://t.co/Hsy4sReUM5 

#fintech #insurtech #blockchaintechnology

Happy Learning!! 🙂

NextGen KYC Initiatives in Indian Financial Sector


Good to see a community formed by 27 banks

  • Hope this will reduce the overhead costs/effort of Identity verification done via BGV Agencies. And improve TAT (turnaround time)
  • It’s time for financial institutions to revisit the Global KYC Process
  • A lot to catch-up & revamp in addition to blockchain (if not yet done) → RPA, Virtual Assistant (Chatbots), IoT, Artificial Intelligence, Predictive/Adaptive Analytics, Machine learning, Omni Channel Experience, Robo Advisors/Kiosks & of course Regulatory Changes.

Happy Learning!! 🙂

Is Low-Code/No-Code BPM Too Disruptive?


There is an interesting discussion initiated by Peter Schooff @bpm.com

Is Low-Code/No-Code BPM Too Disruptive?

My Thoughts:

Low-Code or No-Code primarily creates a herd of “citizen developers” or “tool jockeys“.

It shadows the pro-developer mode of working – by getting dirty with code, tailing through never-ending log files on a command prompt, debugging and troubleshooting itch-scratching error or exception.
There are pros & cons to the low-code / no-code adoption by an enterprise:
Pros:

  • The complexity of the implementation is masked and encapsulated by the fancy looking visualization tools with drag-n-drop features, pre-built components and configuration palette made available as out-of-the-box offerings
  • Business gets a feel-good-factor, with some confidence to incorporate the change
  • One-Stack Development Platform providing ease of maintenance / single pool of likely skilled team / one touch deployment (fast & quick with improved TimeToMarket – if all the needs are fulfilled by the platform)

Cons:

  • Adopting a low-code / no-code platform creates a single point of dependency on the part of enterprise to live forever with the product
  • Flexibility is less compared to bespoke ways of implementation (low-code platforms primarily demand living within the defined boundaries created by the platform)
  • At times, creating custom plugins or custom code adhering to the configurations/features/limitations provided by the platform – demand for additional effort

In summary, low-code or no-code platforms are like “Lego Building Blocks“. If all the model/shapes are available to meet your business functionality – that’s great. Else, additional effort needs to be considered to crafting and creating a block to fit with other building blocks in terms of design/shape/polish/color.

lego-blocks-2458575_640In a way, Low Code / No Code platforms reduce the bridge between the IT & Business stakeholder (which is also the same goal/objective BPM as a principle has been advocating & rattling for more than a decade).
So, it is not too disruptive with regards to BPM. But YES as a terminology it is catchy! And going by the buzz in the wild of disruption, it becomes important for enterprises, to innovate and differentiate addressing the C-P-Q (cost-pace-quality) factor and building solutions (faster, better & cheaper) enriching the customer experience.

Finally, whether to use or not to use a low-code/no code BPM as a launchpad for the enterprise depends on multiple factors and key ones being – vision, future architectural/functional roadmap, maintenance, cost, enterprise landscape, customer experience, customization effort (if any) etc. It’s unfair to consider Low-Code / No-Code as “one-taste-suits-all” kind of an offering for Enterprises (some may like it a bit tangy and spicy – customizations are inevitable) 🙂

Is Low-Code/No-Code BPM Too Disruptive? What’s your take?

Happy Learning!! 🙂

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Nice Read Links:

What Processes Should Never Go Fully Digital?


There is an interesting discussion initiated by Peter Schooff @bpm.com

What Processes Should Never Go Fully Digital?

board-2528407_640

 My Thoughts:
If we literally consider “Digital” – paper form to digital data. Yes, every process should ideally go digital to increase the outreach and improve maintainability reducing Operational Expenditure.

But, if we limit “Digital to the Disruptive Technologies and the market buzz in recent times”, the following scenarios can be considered (referring to broadcasting data over Digital Channels)

  • Regulatory & Compliance related Processes
  • Healthcare specific processes dealing with Patient Health Data (breaching the privacy of an individual)
  • PII (Personal Identity Information) processes
  • Processes dealing with biometric and Customer specific Data (Typically KYC processes in On-Boarding scenarios)
  • Most of the proprietary processes in a financial institution (eg: KYC, Customer Due Diligence, Fraud Check, Blacklist Info etc.)
  • Strategy & Legal Processes in an enterprise
  • Defence and Military Processes

In a nutshell, the Processes that should Go/NeverGo Digital also depends on the Digital boundaries set by the enterprise. It is usually tailored and customized based on business operation / geo / region /regulatory /compliance / law etc.

Mostly, it boils down to dependency on “Data Privacy
Another scenario, we also have some Processes like Pensions in Insurance Companies still leveraging Paper Forms and OCR. Its, not that, they do not want to enhance and adopt Digital Technologies to Enhance Customer Experience. But the audience, in this case, is usually of the age group 60-65+, and mostly prefer visiting branch filling a form, standing in a queue and getting a postal mail. It’s more of a regular routine followed, and can’t be changed overnight with everyone adopting new ways of working as expected.
So, it also depends on your “targeted audience” – that defines the process should be Digital/Not Digital.

What Processes Should Never Go Fully Digital? What’s your take?

Happy Learning!! 🙂

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Are Bots the Second Coming of BPM?


There is an interesting discussion initiated by Peter Schooff @bpm.com

Are Bots the Second Coming of BPM? What do YOU think?

My Thoughts:

Bot adoption is definitely growing exponentially (if not on implementation in many places, in discussions for real). Sometimes it is a bit chaotic too – as everyone leverages the buzz words like bots, chatbots, ML, NLP, AI, RPA and many more to reach the nirvana state instantly in their enterprise. It’s a good thought – appreciate it, but not all enterprises need a bot for their specific business scenario and it is a journey. It is important to do a reality check if Bots is what you need or just automation.

Bots do complement the processes and provide some breathing space in scenarios like:

  • Developing “Self-Healing processes“, where the system understands and learns to resolve an exception or issue (based on predictive Analytics and historical data)
  • Chatbots – for enhancing customer experience and round the clock support
    • Overcoming the mundane tasks of a customer on boarding process (monotonous & manual intensive)
  • Contact Center applications – avoiding hand-offs, tabbing multiple applications and tedious data entry
  • ..many more

Bot adoption in an enterprise is not a mandate, instead, it’s a trade-off between Customer Experience (if the business really needs it) vs Maintainability (with investment + supporting yet another set of robotic process). It should be adopted judiciously.

segway-1474997_640

Bots can be considered as a Segway for Business Processes. If the nuts & bolts of the Segway are set-perfectly-right complementing the Business Process riding it, it can help you cover a great distance swiftly – enriching the customer experience; else you never know where you will finally end up, it could even be the bumpy roads of the enterprise or customer sentiment dismantling it”

Happy Learning!! 🙂

Image Source: link1;  link2

What’s your take?? Any thoughts!

Does Digital Transformation Begin with Process Transformation?


There is an interesting discussion initiated by Peter Schooff @bpm.com

Does Digital Transformation Begin with Process Transformation?

My Thoughts:

Digital Transformation Journey begins with the “Wake-Up Call” for Business:

• The current system has too many challenges to deal with

• The Legacy systems are getting next to impossible from  a maintenance front

• Tough to get the specific skillset of developers in the market – for age-old technologies

• Our revenues are getting Hit YoY – time to rejuvenate our platform

• Our peers and competitors are making us run after money – need to do a complete fish-bone analysis of the system

• Are our systems future-ready & well equipped to adopt the nextGen technologies?

       •……..and many more!!

Next, follows the :

  • Envisaging the Business Model & Target Architecture (vision)
  • Defining New Operating Model
  • Process Optimization or Re-engineering Techniques (Process Transformation)
  • Fitment Analysis (Wrap-&-Renew or Rip-&-Replace Model)
  • Digital Technology Relevance/Mapping (strategy, compliance & regulatory) 
  • Implementation of the Changes
  • Realizing the Re-Incarnated System (claiming Digitally Enlightened or Digitally Transformed)

At each and every stage mentioned above the C-P-Q factor (Cost-Pace-Quality) is validated to take appropriate decisions.


Nice Read:

A detailed & insightful article on the transformation journey (by Dr Alexander S):

Happy Learning!! 🙂

Image source: link

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