October 24, 2023
Kannan Subbiah
FCA | CISA | CGEIT | CCISO | GRC Consulting | Independent Director | Enterprise & Solution Architecture | Former Sr. VP & CTO of MF Utilities | BU Soft Tech | itTrident
“The biggest mistake when using RPA is to fall into the trap of thinking it can automate processes, and in reality, RPA is more accurately robotic task automation (RTA),” says Aali Qureshi, SVP of Sales for the Americas at Kissflow. “RPA bots are great for automating individual, repetitive vertical tasks, but if you want to create and automate more complex horizontal processes that span an entire enterprise, you need a low-code or no-code automation tool that allows you to automate tasks and processes in order to skip hand-coding.” ... It’s not only exceptions that can be problematic, especially when deploying bots to support critical business processes. The next mistake to avoid is deploying bots to production without data validation, error detection, monitoring, and alerting. “RPA is relatively easy as long as one can assume it works correctly, or if it doesn’t, no damage will be done. But malfunctioning RPA can make a huge number of errors in a very short time,” says Hannula. One best practice is centralizing bot monitoring and alerting with the devops or IT ops teams responsible for monitoring applications and infrastructure.
Risk acceptance is the board's prerogative. So, Budiharto advises CISOs to calculate and communicate the cost of not implementing the solution, including the likelihood of a breach or exposure, and the full financial impact of such a breach or exposure (from direct losses to cleanup costs) should the funding request be denied. "To the CFO, those savings should far outweigh the TCO of implementing and managing the solution," she adds. Putting it all together, she describes a scenario where a new solution needs to be added to the existing EDR to stop ransomware in its tracks, kill it, and remediate it faster and more thoroughly than their existing EDR does. "The board will ask, 'How is that related to the bottom line?' So, I calculate the loss of revenue in productivity and loss of business and multiply that by the average days of trying to resolve a ransomware attack under the current EDR system," Budiharto explains. "These types of comparisons will help the board see the big picture, including how your solution will help avoid that big expense."
Beyond business leaders, Gartner noted that governments also have put in place a strong commitment to AI and are prioritising strategies and plans that recognise AI as a key technology in both private and public sectors. This includes incorporating AI into long-term national planning, which is being reinforced through the implementation of corresponding acts and regulations to bolster AI initiatives. “Implementation at a national level will solidify AI as a catalyst for enhancing productivity to boost the digital economy,” said Plummer. “Successful implementation of large-scale AI initiatives necessitates the support and collaboration of diverse stakeholders, showcasing the mobilisation and convening ability of national resources.” Among the key application areas for CIOs and IT leaders is the ability for generative AI to help IT departments manage older systems. According to Gartner, generative AI tools will be used to explain legacy business applications and create appropriate replacements, reducing modernisation costs by 70%, by 2027.
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While most CIOs are choosing to keep generative AI tools away from production environments, it might not be long before IT professionals start using generative AI for disparate elements of the software development and engineering process. "The main message I have is to get your staff up to date and put the resources into training, and then take advantage of it," she says. "It's incredible what you can do with code generation now. I could build an entire application without knowing any JavaScript or how to code. But you must be educated on all the pluses and the minuses -- and that doesn't happen overnight." That's a sentiment that resonates with Omer Grossman, global CIO at CyberArk. In an interview with ZDNET, he suggests now is the time to start exploring generative AI. "Leaders should make decisions," he says. "And I'm emphasizing that point because if you don't make any decisions because you are risk-averse, you risk missing out." For business leaders who are thinking about how to use generative AI in areas such as software development and engineering, Grossman suggests a range of steps.
The research by BSI, the UK-headquartered business improvement and standards company, was commissioned to launch the Shaping Society 5.0 essay collection, which?explores how AI innovations can be an enable that accelerates progress. It highlights the?importance of building greater trust in the technology, as many expect AI to be?commonplace by 2030, for example, automated lighting at home (41%), automated vehicles?(45%) or biometric identification for travel (40%). A little over a quarter (26%) expect AI to be regularly used in schools within just seven years. Interestingly, three-fifths of the respondents globally (61%) want international guidelines to?enable the safe use of AI, indicating the importance of guardrails to ensure AI’s safe and?ethical use and build trust. For example, safeguards on the ethical use of patient data in?healthcare are important to 55% of the respondents of the survey globally. Engagement with AI is markedly higher in two of the fastest-growing economies 1. China?(70%) and India (64%) already use AI every day at work.
The first crucial step in embracing exponential thinking is to reframe your relationship with fear and failure. We often view challenges or setbacks as threats, paralyzing us into inaction. Instead, reframe your fears as opportunities for learning and growth. When faced with a challenge, ask yourself questions like, "What can I learn from this?" or "How can this experience help me grow?" This shift in perspective will make you more resilient and open to new experiences, which is the core foundation for exponential thinking. ... Exponential thinking, which leads to exponential growth, rarely happens in isolation; it's a team effort. Make it a point to regularly interact with people outside your immediate team and field of expertise; connect with folks from different departments and even different fields. Whether it's through inter-departmental meetings, cross-functional projects or internal hackathons, the fusion of different perspectives can ignite innovative solutions with exponential potential. In a world aiming for exponential success, an organizational culture that champions team collaboration across all departments is not just beneficial—it's imperative.