Artificial intelligence (AI) has reached an astounding level of realism, to the point that some tools can even fool people into thinking they are interacting with another human.

The eeriness doesn’t stop there. In a study published today in Psychological Science, we’ve discovered images of white faces generated by the popular StyleGAN2 algorithm look more “human” than actual people’s faces.

AI creates hyperrealistic faces

For our research, we showed 124 participants pictures of many different white faces and asked them to decide whether each face was real or generated by AI.

Half the pictures were of real faces, while half were AI-generated. If the participants had guessed randomly, we would expect them to be correct about half the time – akin to flipping a coin and getting tails half the time.

Instead, participants were systematically wrong, and were more likely to say AI-generated faces were real. On average, people labelled about 2 out of 3 of the AI-generated faces as human.

These results suggest AI-generated faces look more real than actual faces; we call this effect “hyperrealism”. They also suggest people, on average, aren’t very good at detecting AI-generated faces. You can compare for yourself the portraits of real people at the top of the page with the ones embedded below.

But perhaps people are aware of their own limitations, and therefore aren’t likely to fall prey to AI-generated faces online?

To find out, we asked participants how confident they felt about their decisions. Paradoxically, the people who were the worst at identifying AI impostors were the most confident in their guesses.

In other words, the people who were most susceptible to being tricked by AI weren’t even aware they were being deceived.

Biased training data deliver biased outputs

The fourth industrial revolution – which includes technologies such as AI, robotics and advanced computing – has profoundly changed the kinds of “faces” we see online.

AI-generated faces are readily available, and their use comes with both risks and benefits. Although they have been used to help find missing children, they have also been used in identity fraud, catfishing and cyber warfare.

People’s misplaced confidence in their ability to detect AI faces could make them more susceptible to deceptive practices. They may, for instance, readily hand over sensitive information to cybercriminals masquerading behind hyperrealistic AI identities.

Another worrying aspect of AI hyperrealism is that it’s racially biased. Using data from another study which also tested Asian and Black faces, we found only white AI-generated faces looked hyperreal.

When asked to decide whether faces of colour were human or AI-generated, participants guessed correctly about half the time – akin to guessing randomly.

This means white AI-generated faces look more real than AI-generated faces of colour, as well as white human faces.

Implications of bias and hyperrealistic AI

This racial bias likely stems from the fact that AI algorithms, including the one we tested, are often trained on images of mostly white faces.

Racial bias in algorithmic training can have serious implications. One recent study found self-driving cars are less likely to detect Black people, placing them at greater risk than white people. Both the companies producing AI, and the governments overseeing them, have a responsibility to ensure diverse representation and mitigate bias in AI.

The realism of AI-generated content also raises questions about our ability to accurately detect it and protect ourselves.

In our research, we identified several features that make white AI faces look hyperreal. For instance, they often have proportionate and familiar features, and they lack distinctive characteristics that make them stand out as “odd” from other faces. Participants misinterpreted these features as signs of “humanness”, leading to the hyperrealism effect.

At the same time, AI technology is advancing so rapidly it will be interesting to see how long these findings apply. There’s also no guarantee AI faces generated by other algorithms will differ from human faces in the same ways as those we tested.

Since our study was published, we have also tested the ability of AI detection technology to identify our AI faces. Although this technology claims to identify the particular type of AI faces we used with a high accuracy, it performed as poorly as our human participants.

Similarly, software for detecting AI writing has also had high rates of falsely accusing people of cheating – especially people whose native language is not English.

Managing the risks of AI

So how can people protect themselves from misidentifying AI-generated content as real?

One way is to simply be aware of how poorly people perform when tasked with separating AI-generated faces from real ones. If we are more wary of our own limitations on this front, we may be less easily influenced by what we see online – and can take additional steps to verify information when it matters.

Public policy also plays an important role. One option is to require the use of AI to be declared. However, this might not help, or may inadvertently provide a false sense of security when AI is used for deceptive purposes – in which case it is almost impossible to police.

Another approach is to focus on authenticating trusted sources. Similar to the “Made in Australia” or “European CE tag”, applying a trusted source badge – which can be verified and has to be earned through rigorous checks – could help users select reliable media.

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The call comes as the report forecasts a crisis looming for the Australian economy with the rapid pace of change seeing 90% of Australian workers’ jobs changing in the next decade, driven by technologies like AI and robotics across most sectors of the workforce.

Chris Vein, ACS Chief Executive, said “By 2030, we will need 1.3 million additional skills to effectively utilise the technologies reshaping the Australian workforce. Forecasts from Digital Pulse suggests Australia is not on track to achieve the growth in skills we need.

“This year’s Digital Pulse is not merely a call to action; it’s a robust, practical roadmap to build the nationwide tech skills we need. We have developed the most comprehensive projections around tech skills demand through to 2030 to date based on currently available information.

“This year’s report calls for a coalition across industry, education and government to start shaping how our society will respond to the skills challenge this exciting era presents.”

This year’s Digital Pulse, to be launched on Wednesday, is the ninth since the annual survey of Australia’s technology sector was first released in 2015. Key Statistics from the report include:

• A lack of the right digital skills is currently costing Australian businesses $3.1 billion each year which could top $16bn by 2030.

• The pace of technology investment in Australia is projected to skyrocket from $171B in 2023 to $259B by 2030, this rate of growth is three times faster than overall business investment

• By the end of the decade, half of Australian businesses will be using AI, data analytics and robotics but technologies like Generative AI mean businesses will need to do more to keep up with their employees shifting skills and demands

• 75% of working hours for Australian workers will be affected by key technologies, heralding a significant skill shift across industries.

In the report, ACS proposes a National Digital Skills Strategy including a skills-first education and training initiative, a national skills platform, more support for career transitions towards a tech orientated career, to boost the diversity in tech skills, programs to boost Women in Tech, and assist skilled migrants utilise their capabilities.

“The stakes are high for Australia,” Mr Vein concluded. “If the nation can get this right, we could be leading the world and guaranteeing our prosperity into the future. If we don’t seize the opportunity, we could well be left behind by the middle of the century.”

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1. Personalized Learning

AI systems can create personalized learning experiences for each employee based on their needs, preferences, and learning style. This helps increase engagement and retention of the information, making the learning more effective.

2. Adaptive Learning

Programs for employee training may have options to adapt a worker’s training on the spur of the moment. Dynamic and complex systems can adjust the difficulty, change up the sequencing of content, and keep employees learning at a steady pace.

3. Skill/Knowledge Gaps

AI programs can easily use simulations, automated grading, and adaptive questioning to test employees’ knowledge and proficiency at their work tasks and suggest customized learning solutions to help fill gaps.

4. Content Curation

When it comes to knowing what to study, AI programs can help curate content for workers for their particular needs. These algorithms can sift through thousands of articles and web pages to suggest only the most up-to-date and relevant sources for continued learning.

5. Virtual Assistance

Workers learning and developing skills through AI programs might run into problems or questions. Other AI coaching can supply answers by way of automated chatbots or virtual assistants.

6. Data Analytics

AI programs are great for processing data—large quantities of it. When you look at the data from L&D activities, you can see where employee performance or knowledge is lacking the most. You can also see learning patterns and judge the effectiveness of the training.

Managers and learning and development professionals can build strong partnerships between humans and new AI technology by focusing on three key areas of development for employees: fostering resilience in the face of change, building an agile workforce, and recognizing and rewarding emotional intelligence.

Fostering resilience means overcoming obstacles, hardships, and failures that inevitably come with change. Recognizing and rewarding emotional intelligence means finding and training potential leaders and putting them in empowered positions to manage others. There are many benefits of artificial intelligence in learning and development—if you know how to harness them.

It is indisputably true that how AI will change the world depends on how we as humans approach it. AI is meant to be a tool for human use, not a replacement for ingenuity, creativity, or rationalization. As such, humans need to remain relevant to the workplace because they aren’t going anywhere. Increasing employees’ soft skills and integrating them with AI technology can mean maximizing beneficial results.

No matter how you feel about AI, it’s the truth that those who utilize AI for work will slowly outpace those who don’t. It all comes back to the integration of humans with machines. If you want to prepare for success in the AI era, then you need to concentrate on the human element of the equation.

It’s essential to recognize that the challenges surrounding AI implementation are not insurmountable. Instead, they serve as valuable lessons for leaders and organizations to refine their strategies and better prepare for the AI-driven future. By heeding the above truths and adopting a more informed and holistic employee engagement approach, leaders can unlock AI’s true potential and pave the way for a more productive and innovative workplace.

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Black Friday-Cyber Monday saw 52 million global shoppers spend $7.5 billion dollars with brands powered by Shopify last year. Ahead of this year’s event, Shopify surveyed 2,000 consumers and 350 businesses across Australia to learn what will motivate consumers and drive business performance over the upcoming holiday shopping period.

The study, conducted by Sapio Research, found that 74% of Australian retailers are planning a big BFCM in 2023, anticipating a rise in consumer spending as shoppers seek to take advantage of deals and discounts for their holiday shopping. And with businesses earning 25% of their annual sales, on average, during the holiday season, retailers are turning to technology to help them optimise business performance during this period, with 72% of retailers investing in some form of technology to drive sales.

Attracting new customers and retaining customers ranked equal first (39%) among Australian retailers as the top benefit of adopting new technology in their business, followed closely by improving operational efficiencies (37%). Close to one-third (33%) of businesses think technology will help businesses most with smart decision making, tying with the US as the largest proportion of businesses per country that believe this. And when it comes to implementing AI specifically, 42% of Australian retailers said they are using AI to improve customer engagement and build brand loyalty, while 37% cited that AI helps them improve personalised and targeted marketing.

“Our research found that the consumers that plan to spend the most during this sales period are more likely to regularly make use of technology as part of their shopping journey. And with two-thirds of consumers planning to take advantage of BFCM in 2023, there is a huge opportunity for local retailers to meet consumer demand and capture wallet-share with technology-driven experiences,” said Shaun Broughton, APAC Managing Director at Shopify.

These insights align with the attitudes of Australian customers, with the study finding close to 1 in 4 of consumers are more likely to buy from brands with technology-enabled shopping experiences (24%) and almost a quarter (24%) expect brands to embed technology into the shopping experience. 23% are more likely to spend money with brands that offer tech-enabled shopping experiences.

“We don’t go on sale very often and our goal for our BFCM sale is to provide the best experience for our community and inspire them to be 1% better every day,” said Jason Daniel, CEO of LSKD. “At LSKD, we’re trialling cutting-edge technologies, including VR/AR and virtual assistants, to understand the value they can provide our community. Additionally, we’re venturing into AI-powered productivity tools to further empower our internal teams, always with an eye towards strengthening our authentic relationship with each customer.”

Key findings from Shopify’s latest research also reveal: 

The holiday sales season continues to be a priority for Australian retailers

• Roughly the same number of Australian businesses are planning to participate in BFCM this year (37% for Black Friday, 24% for Cyber Monday) compared to last year (33% for Black Friday, 24% for Cyber Monday). While the number of businesses planning to participate in festive sales has remained the same, peaking during Christmas with 46% of retailers planning to release promotions, January sales figures have dropped slightly with only 25% of retailers planning to take part in the sales event, down from 29% in 2022.
• A majority of businesses (19%) are planning to start promotions for BFCM on Black Friday, or after. It’s worth noting however that the people who plan to spend the most at BFCM are three times more likely to start shopping early than people who plan to spend less. These shoppers are making deliberate purchases, beginning their shopping research two to three weeks in advance.

Businesses are investing in technology to attract and retain customers

• While technology adoption has grown among retailers, Australian businesses still lag behind their global counterparts in this area. Compared to Canada, France, Germany, the UK and the US, Australia has the highest proportion of retailers that haven’t and do not plan to invest in AI (36%), in-store automation (39%), marketing and sales automation (27%), QR codes and digital display screens (28%), smart check-outs (38%) and augmented reality (44%).
• That said, Shopify’s research shows that those that do embrace technology are likely to appeal to higher spenders — consumers who plan to spend over $850 this BFCM are over twice as likely than the average BFCM shopper to use virtual reality or augmented reality while shopping (146% increase), and significantly more likely to use virtual assistants (158% increase) and chatbots (123% increase).
• The top ways businesses are investing in technology for BFCM include:
  • Investing more in their social media presence (36%)
  • Planning email campaigns and online advertising to target prospective customers (33%)
  • AI to support better customer experience and customer service, such as offering live chat to answer questions (31%)
  • Optimising the back-end of our online store, but investing in infrastructure so that we can process and deliver a higher volume of orders in a shorter period of time (31%)
  • Making it easier to add deals or discount vouchers to products (29%)

When it comes to marketing, Australian businesses are doing things differently

• 87% of businesses in Australia say their owned content marketing is increasingly crucial to helping them stand out from the crowd, while 89% say that owning the direct relationship with consumers has never been more important. Given three quarters (77%) of AU retailers agree that, while digital advertising costs are increasing, return on investment isn’t, now is the time to think differently.
• Businesses believe social, interactive shopping will play an even more pivotal role this year – and in the decade to come. 79% of businesses said selling via social media had the same level or more importance than a year ago.
• Almost a third (30%) of businesses think that social media platforms will provide the highest volume of sales for them by the end of the decade, second only to their owned direct to consumer channels, e.g. online store (31%).

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How can small businesses use AI?

There are many ways that small businesses can use AI. Here are a few examples:

• Automate tasks: AI can be used to automate repetitive tasks, such as data entry, customer service, and social media management. This can free up time for business owners and employees to focus on more strategic tasks.
• Improve decision-making: AI can be used to analyze data and make predictions. This can help business owners to make better decisions about things like marketing, inventory, and pricing.
• Provide a better customer experience: AI can be used to personalize customer interactions, provide chatbots for customer support, and recommend products or services. This can help businesses to improve customer satisfaction and loyalty.

What are the benefits of using AI for small businesses?

There are many benefits to using AI for small businesses. Here are a few of the most notable:

• Increased efficiency: AI can automate tasks and improve decision-making, which can save businesses time and money.
• Improved customer experience: AI can personalize customer interactions and provide better customer support, which can lead to increased customer satisfaction and loyalty.
• Enhanced competitiveness: AI can help businesses to stay ahead of the competition by automating tasks, improving decision-making, and providing a better customer experience.

What are the challenges of using AI for small businesses?

There are also some challenges to using AI for small businesses. Here are a few of the most common:

• Cost: AI can be expensive to implement and maintain.
• Data: AI requires data to be trained, and small businesses may not have enough data or the resources to collect and manage data.
• Skills: AI requires specialized skills to implement and maintain. Small businesses may not have the resources to hire or train employees with these skills.

What are the future trends of AI for small businesses?

AI is still a relatively new technology, and there are many potential future trends for small businesses. Here are a few of the most promising trends:

• The development of more affordable AI solutions: AI solutions are becoming more affordable, which will make them more accessible to small businesses.
• The development of AI solutions that are easier to implement and use: AI solutions are becoming easier to implement and use, which will make them more attractive to small businesses.
• The development of AI solutions that are specifically tailored to the needs of small businesses: AI solutions are becoming more tailored to the needs of small businesses, which will make them more valuable to these businesses.

Overall, AI is a powerful tool that can help small businesses to improve efficiency, customer experience, and competitiveness. However, it is important to be aware of the challenges of using AI, such as the cost, data requirements, and skills needed. Small businesses should carefully consider their needs and resources before deciding whether or not to use AI.

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A key call out for the industry is the emerging role that Artificial Intelligence (AI) is likely to play in preventing and responding to retail crime and the potential impacts of this engagement. 

The following summarises Professor Townsley’s response.

What role is AI likely to play regarding retail crime?

It is too early to be definitive, but the pace of development is staggering.  

1. Video Surveillance and Analysis: CCTV systems require human monitoring, which can be labour-intensive and prone to errors. AI-enhanced surveillance systems can automatically detect suspicious activities and alert staff in real-time. These systems can recognise patterns, faces, and even predict potential theft based on behaviour or gestures. The applications for self-checkout are noteworthy – supervising customers to a level that would be cost-prohibitive for staff on a 1:1 basis. 
2. Predictive Analytics: AI can analyse vast amounts of data to predict which products are most likely to be stolen, when thefts are most likely to occur, and which locations are most at risk. Customer behaviour (dwell time, wayfinding, gait/walking style) could be quantified and tracked with a view to prioritise abnormal behaviour.
3. Fraud Detection: AI can analyse transaction data to detect unusual patterns or behaviours that might indicate fraud. For instance, frequent returns, unusual purchase patterns, or the use of stolen credit card information can be flagged for further investigation. 

From an academic perspective, it is yet to be seen how the technologies are implemented with existing systems and processes and what compensating activities are put in place to accommodate AI. Offenders are superb at probing for vulnerabilities and loopholes in systems, so it should be expected that they will locate and exploit any weak points.

If we consider the ways organised offenders may employ AI, several ideas are obvious 

1. Data Theft and Breaches: AI tools can be used by malicious actors to identify vulnerabilities in a retailer’s digital infrastructure, leading to data breaches. This can compromise customer and employee data.
   
2. Fraudulent Transactions: AI can be used to generate fake invoices and account takeovers — see FraudGPT.
   
3. Targeted Scams: By analysing customer data, AI can be used to craft highly personalised phishing scams or fraud schemes targeting specific customers or employees.

How might confrontational situations, like using self-serve gates to prevent exits, parallel concerns with AI surveillance in loss prevention?

While AI-powered surveillance can help in loss prevention, it can be seen as a form of surveillance capitalism. Unauthorised tracking, facial recognition without consent, or profiling based on behaviour can lead to significant privacy concerns and customer dissatisfaction.

The National Retail Association is continuing with state-based Retail Crime Committees, with the second round of bi-annual meetings currently underway. We look forward to welcoming industry and facilitating valuable information sharing sessions, ahead of the busiest season in retail. 

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AI algorithms imitate real-world systems. The more repetitive a system is, the easier it is for AI to replace it. That’s why jobs in customer service, retail and clerical roles are regularly named as being the most at risk.

That doesn’t mean other jobs won’t be affected. The latest advances in AI have shown all kinds of creative work and white–collar professions stand to be impacted to various degrees.

However, there’s one important point that’s usually not addressed in discussions about AI’s impact on jobs. That is: where you work may be as important as what you do.

Current trends and projections suggest people in developing countries, where a higher proportion of jobs involve repetitive or manual tasks, will be the first and most affected.

Privileged by geography

According to the World Economic Forum’s Future of Jobs report, emerging technologies and digitalisation are among the biggest driving factors for job displacement. The report states:

The majority of fastest declining roles are clerical or secretarial roles, with bank tellers and related clerks, postal service clerks, cashiers and ticket clerks, and data entry clerks expected to decline fastest.

Let’s take an office clerk as an example, whose responsibilities include answering phones, taking messages and scheduling appointments. We now have access to AI tools that can perform all these tasks.

They can also work non-stop, for free (or a fraction of the price), without being affected by personal problems, and without having to mentally strain to optimise their workflow. Of course they’re going to be attractive to employers!

At first glance, you might assume an office clerk living in a developed country is more likely to lose their job than their counterpart in a developing country, since the former seems more likely to implement new AI tools.

In reality, however, it’s expected more people in developing countries will lose their jobs. The success of each nation will depend on how well it can adapt to the displacement of its workforce.

In 2009, the United Nations International Telecommunication Union created the information and communication technologies (ICT) development index to benchmark and compare ICT performance within and across countries.

This index measures, among other things:

• the level and evolution over time of information and communication technologies in different countries
• how each country’s experience compares to others’
• the extent to which a country can develop and use these technologies to boost its own growth and development in the context of the capabilities and skills available.

In other words, a country’s score on this index can be correlated with how well it adapts to emerging technologies such as AI.

Unsurprisingly, developed countries rank higher than the rest of the world. In 2012, the top five ranking countries were the Republic of Korea, Sweden, Iceland, Denmark and Finland. The bottom five were Eritrea, Burkina Faso, Chad, the Central African Republic and Niger.

Wealth and opportunity makes a difference

The World Bank has divided the world by income and region, showing developing countries are among the lowest earners.

Generally speaking, employing people is much easier in developing countries, due to lower wages, tighter competition and less regulation to support employees.

The World Bank estimates about 84% of the world’s working-age population lives in developing countries. Similarly, a 2008 report from the International Labour Organisation estimated 73% of all the world’s workers lived in developing countries, while only 14% lived in advanced industrial countries.

That means whatever clerical jobs aren’t taken by AI in developing countries will become more competitive than most people can handle. As World Bank senior economist Indhira Santos wrote in 2016, in reference to the digital revolution:

[…] the jobs where workers are likely to lose out are disproportionally held by the least educated and the bottom 40 percent of the income distribution. As a result, the biggest risk from the digital revolution is not massive unemployment, but widening income inequality.

These factors will result in an employer-ruled ecosystem in developing countries. These countries have both a higher occurrence of jobs that can be replaced or displaced (such as call centre jobs), and less of the money and skills needed to implement AI tools effectively.

The cost and affordability of AI programs and algorithms will also speed up this process in certain regions.

Critical thinking remains important

Experts note AI will create many employment opportunities, including jobs that don’t yet exist. It’s just that not all countries will be well-equipped to make the transition when the time comes.

The Future of Jobs report says “analytical thinking and creative thinking remain the most important skills for workers”. So if you’re worried about keeping your job in the future, it’s worth acquiring more of these skills.

Beyond that, you might stop and consider how the place you live could play a role in whether you’ll have work in the future – and if you happen to live in a wealthy, developed country, consider yourself lucky.

Source: The Conversation

Also read: 9 Reasons your business’s AI adoption is failing

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Artificial intelligence (AI) is rapidly transforming the workplace, but many business leaders are struggling to implement it effectively. This is leading to a number of challenges, including:

• Reduced productivity: AI can automate many time-consuming tasks, freeing up employees to focus on more strategic work. However, if AI is not implemented correctly, it can actually lead to reduced productivity, as employees struggle to adapt to new technologies and processes.
• Employee disengagement: AI can be disruptive to the workplace, and employees may be concerned about their job security. This can lead to disengagement and reduced morale.
• Missed opportunities: AI has the potential to revolutionize the way businesses operate, but if it is not implemented effectively, businesses may miss out on key opportunities.

9 Ways Business Leaders Are Suffering Inadequate Implementation

Here are nine ways that business leaders are suffering inadequate implementation of AI:

1. Failing to develop a clear AI strategy: Many businesses do not have a clear strategy for how they will use AI. This leads to ad-hoc implementation, which can be inefficient and ineffective.
2. Not investing in employee training: AI requires employees to learn new skills. Businesses that do not invest in employee training are setting themselves up for failure.
3. Choosing the wrong AI tools: There are a wide variety of AI tools available, and it is important to choose the right ones for your business needs. Businesses that choose the wrong tools may waste money and resources.
4. Not integrating AI with existing systems: AI should be integrated with existing business systems to ensure a seamless workflow. Businesses that fail to do this may create additional silos and inefficiencies.
5. Not tracking results: It is important to track the results of AI implementation to ensure that it is delivering the desired benefits. Businesses that fail to track results may not be able to identify and address problems early on.
6. Not being transparent with employees: Employees need to understand why AI is being implemented and how it will impact their jobs. Businesses that are not transparent with employees may face resistance and backlash.
7. Focusing too much on automation: AI can automate many tasks, but it is important to remember that it is not a replacement for human ingenuity and creativity. Businesses that focus too much on automation may miss out on opportunities to innovate and grow.
8. Not considering the ethical implications of AI: AI raises a number of ethical concerns, such as bias and privacy. Businesses need to consider these concerns carefully before implementing AI.
9. Not having a plan for the future of work: AI is changing the nature of work, and businesses need to have a plan for how they will adapt. Businesses that fail to plan for the future of work may find themselves struggling to compete.

How to Overcome AI Adoption Challenges

There are a number of things that business leaders can do to overcome the challenges of AI implementation. Here are a few tips:

• Develop a clear AI strategy: Start by defining your business goals and objectives. Then, identify the specific ways that AI can help you achieve those goals.
• Invest in employee training: Provide employees with the training they need to use AI effectively. This includes training on both technical and soft skills.
• Choose the right AI tools: Carefully evaluate your business needs before choosing AI tools. Make sure to choose tools that are compatible with your existing systems and that can be scaled to meet your future needs.
• Integrate AI with existing systems: Integrate AI with your existing business systems to ensure a seamless workflow. This may require making changes to your existing systems.
• Track results: Track the results of AI implementation to ensure that it is delivering the desired benefits. This will help you identify and address problems early on.
• Be transparent with employees: Explain to employees why AI is being implemented and how it will impact their jobs. Be prepared to answer questions and address concerns.
• Don’t focus too much on automation: Remember that AI is not a replacement for human ingenuity and creativity. Focus on using AI to augment human capabilities, not replace them.
• Consider the ethical implications of AI: Carefully consider the ethical concerns raised by AI before implementing it. This includes bias, privacy, and security.
• Have a plan for the future of work: AI is changing the nature of work. Develop a plan for how your business will adapt to these changes. This may include retraining employees, changing job descriptions, and creating new roles.

Also read: 3 Ways to use automation to solve key business challenges

The post 9 Reasons your business’s AI adoption is failing appeared first on Small Business Connections.

Fabian Calle, managing director, small and medium business, SAP Concur Australia and New Zealand, said, “When we speak of automation, we’re not just referring to machines taking over manual tasks. We’re talking about a sophisticated blend of artificial intelligence (AI) and machine learning that elevates processes, decision-making, and consumer interactions. It’s about harnessing the combined power of technology to reshape how businesses operate and serve their customers.”

Machine learning (ML), a practical application of AI, is at the forefront of this transformation. When combined with other technologies like Internet of Things (IoT), chatbots, and blockchain, ML forms a potent solution set.

One common misconception is that these advanced technologies are reserved for larger companies, leaving smaller businesses behind. This couldn’t be further from the truth. Businesses of all sizes can, and should, leverage automation to streamline operations, enhance consumer experiences, and drive growth. Through automation, businesses can solve substantial problems including:

1. Risk and compliance in employee spend 

Many businesses face difficultly managing risks and compliance, especially when it comes to areas such as employee spending, travel costs, and invoice handling. With countless transactions and a mix of individuals, some of whom might not be fully familiar with the guidelines, mistakes are almost a given. There could also be employees trying to find system loopholes. Training helps, but with ever-changing policies, it can be difficult to keep everyone aligned to the correct process.

Adapting to change isn’t straightforward. Leaders must deal with policy breaches, sort receipts in multiple languages and currencies, watch for duplicate expenses, and ensure the business is complying with anti-bribery laws. Modern technology can ease the process of policy updates, and with AI, spotting risk and compliance issues becomes much simpler.

2. Auditing

Detecting mistakes and possible fraud is incredibly important; however, it’s just as crucial to identify unusual spending patterns over time. Completing manual checks isn’t practical. AI doesn’t miss a beat and can dig into every single detail, even cross-checking with other databases. This lets human auditors shift their focus to finding solutions, rather than just identifying problems.

3. Managing taxes 

Global businesses face challenges with tax compliance. Different regions have their own tax rules, making it difficult for leaders to keep up. In Australia, dealing with the goods and services tax (GST) is one such test. Many businesses don’t claim all their GST credits on purchases, leaving money on the table. But with the right technology, compliance becomes easier. Digital tools can streamline GST processes, match transactions to tax rules, and help businesses identify unclaimed GST credits.

When considering AI and ML solutions, businesses of all sizes should consider the following:

• Embracing established solutions: top-tier AI and ML solutions benefit from widespread adoption. A large user base translates to extensive experience and expertise across different sectors. Such solutions have encountered and addressed numerous challenges, accumulating large amounts of data, vital for AI training. Choose industry leaders to capitalise on their vast insights and best practices. These solutions offer enterprise-level capabilities, ensuring all users benefit from the intelligence gathered across various industries.
• Prioritising partner ecosystems and integrations: no business operates in isolation. Opt for solutions with extensive partner ecosystems, offering specialised intelligence to add value. Beyond just having an application programming interface (API), check the extent and quality of integrations with other solutions. Comprehensive integration with existing systems, such as financial or enterprise resource planning (ERP) systems, reduces manual work, requires less IT support, and ensures efficient data flow, improving employee’s responsiveness.
• Customisation: every business is unique. While there might be common challenges, the approach taken to addressing them differs. Some businesses may prefer managed solutions due to compliance priorities or lack of expertise. Others might opt for a hands-on approach, managing everything in-house. Often, a hybrid solution is ideal, balancing external support with internal management. It’s essential to find a solution tailored to the business’s specific needs and preferences.

Fabian Calle said, “Businesses of all sizes are now embedding intelligent technologies to help leaders oversee their entire spending process. The industry is evolving, shifting its focus to spend enablement, settlement, oversight, and control. The primary objective isn’t creating expense reports. It’s about efficiently processing employee purchases.

“By proactively identifying discrepancies in real-time and retrospectively analysing spending trends and potential fraud, these solutions can ensure compliance and efficiency. Leveraging the capabilities of AI and ML can help business leaders to anticipate future challenges and extract valuable insights from past transactions, ensuring robust, compliant, and strategic financial management.”

Also read: What will Australia’s journey towards AI-powered industry 4.0 look like?

The post 3 Ways to use automation to solve key business challenges appeared first on Small Business Connections.

How AI Tools Can Be Used in Meetings:

Here are some specific ways that AI tools can be used in meetings:

• Meeting scheduling: AI tools can help to automate the process of scheduling meetings by taking into account the availability of participants, meeting rooms, and other resources. This can free up employees’ time and reduce the risk of scheduling conflicts.
• Meeting preparation: AI tools can help to prepare for meetings by generating agendas, summarizing meeting materials, and identifying key action items. This can help to ensure that meetings are focused and productive.
• Meeting transcription and summarization: AI tools can transcribe and summarize meetings, which can be helpful for participants who were unable to attend or who need to review the meeting notes later. This can also be used to generate meeting reports and other documentation.
• Meeting analytics: AI tools can analyze meeting data to identify trends and patterns. This information can be used to improve the efficiency and effectiveness of meetings.

Benefits of Using AI Tools in Meetings:

There are a number of benefits to using AI tools in meetings, including:

• Increased efficiency and productivity: AI tools can automate many of the tasks involved in meetings, freeing up employees’ time to focus on more important tasks.
• Improved decision-making: AI tools can generate insights from meeting data, such as key takeaways and action items. This information can help businesses to make better decisions.
• Reduced costs: AI tools can help businesses to reduce the costs associated with meetings, such as travel expenses and meeting room rental fees.

Challenges of Using AI Tools in Meetings:

While there are many benefits to using AI tools in meetings, there are also some challenges that businesses should be aware of, such as:

• Data privacy and security: AI tools collect and analyze a large amount of data, so it is important to ensure that this data is protected from unauthorized access and use.
• Bias: AI tools are trained on data, which can be biased. This means that AI tools can generate biased results, which can lead to unfair or discriminatory decision-making.
• Acceptance and adoption: Employees may be hesitant to use AI tools in meetings, especially if they are concerned about their jobs being replaced. It is important to communicate the benefits of AI tools to employees and to train them on how to use them effectively.

Also read: Top 6 ways Australian businesses are using AI in e-commerce right now

The post Using AI in meeting? What SMEs need to know appeared first on Small Business Connections.