Industry news

Infosys, a leader in consulting, technology, and next-generation services, released multinational research findings on artificial intelligence (AI) business impact, market maturity and expectations. The report revealed a clear link between an organisation’s revenue growth and its AI maturity: organisations who report faster growth in revenue over the past three years were also more likely to be further ahead when it comes to AI maturity. Sandeep Dadlani, President & Head of Americas, Infosys, said, “Our research shows that the next four years will witness further spikes in interest, and general bullishness about the significant value and benefits that can be obtained through AI adoption. As an industry, therefore, we must take necessary steps to ensure AI is developed morally and ethically across every part of society and that employees are actively engaged and provided with the necessary training to be central to this journey.” Learn more about Infosys here.

The Economist has been reporting on the importance of constant upskilling and learning in a society where technological innovation sees new developments in employment. It is well worth reading the report in full but in a quick review the report argues that jobs are evolving, becoming a mix of skills and abilities that would have been alien to a worker 25 years ago. It explains the concept of ‘hybrid’ jobs and how teaching and course are adapting to teach applicants practical nano-courses. The need to gain new skills throughout your working life has never been more apparent and important. The GSA offers a wide range of practical workshops in topics like design thinking, RPA & AI, negotiation and governance that can lead to a diploma or MBA.

UK inflation bounced in December 2016, reaching 1.6% up from 1.2% in November. The figure is above expectations although analysts expect higher inflation in 2017 as the fall in the Pound impacts imports with rises being passed to consumers. Some analysts think 3% is possible, especially if oil prices edge up over the coming months. The news may worry the Bank of England, governor Mark Carney noted that the UK’s economic recovery increasingly relied on consumers making price rises a potential torpedo to the economy. Read more here.

Cleverti, an emerging Portuguese technology company, is seeking to strengthen its cooperation with British companies, following a number of successful projects in the United Kingdom. England and Ireland are the main target for Cleverti’s specialized software development. Results so far evidence the added value Cleverti’s business model can bring to UK companies and hence this market has become a priority for Cleverti in 2017. Carlos Coutinho Silva, CEO of Cleverti, explains “2017 will be a challenging year for us. We are seeking to consolidate our client base and also increase our presence in international markets, with a special focus in England and Ireland.“ Beyond the UK, Cleverti’s services currently extend to Belgium, Germany, Norway, Portugal, Sweden and Switzerland, where Cleverti has been helping innovative companies to develop their software products by enhancing internal crews with highly talented IT professionals based in Lisbon.

To learn more, visit www.cleverti.co.uk

WNS (Holdings) Limited (WNS), a leading provider of global Business Process Management (BPM) services announced that the company entered into a definitive agreement to acquire Denali Sourcing Services, a leading provider of strategic procurement BPM solutions. Denali delivers high-end global sourcing and procurement services to some of the world’s leading brands in the High-Tech, Retail/CPG, Banking and Financial Services, Utilities, and Healthcare verticals. Focused solely on procurement, Denali has pioneered “sourcing as a service” in a technology-agnostic capacity, and currently manages over $30 billion in spend on behalf of over 25 clients via a multi-location global delivery network. Over 90% of Denali’s revenue is recurring in nature, and over 95% of revenue is derived from clients in the United States. “The acquisition of Denali Sourcing Services adds a strategic procurement capability to our existing Finance and Accounting solutions. Denali is a unique asset which we believe helps position WNS as an industry leader in F&A, and enhances our Industry Specific Solutions,” said Keshav Murugesh, WNS’ Chief Executive Officer.

To read more, click here.

Every time the government starts talking about Brexit plans, the Pound takes a beating on international markets as investors and speculators try to price in the cost of a hard Brexit on the UK economy. Prime Minister May is expected to announce plans for the future of the UK on the 17th of January, many think the plans will detail a hard Brexit. As the Pound falls, the worry will be its effect on UK consumers, who may find themselves squeezed due to rising prices, which could lead to a challenging year for UK retail. You can read more here.

The Economist briefing this week explains the evolution of the manufacturing industry, from hammer and steel, to computers and consultancy. It is an interesting read for those involved in the sourcing industry as the article details how jobs changed and evolved and how the sourcing industry facilitated improving production and how changing technology has meant that the jobs offshored in the industry are very different to those that were originally in rich countries. If you want to read the article, please click here.

The World Economic Forum in Davos will welcome Xi Jinping this week as a star attraction, signalling China’s growing role in the global economy. However, the big talking point may be the effect of new technology on the future of work and jobs, as AI and machine learning threaten jobs across all sectors. As ComputerWeekly.com notes in this article, technology is affecting the way we work and may be causing the big political changes we have seen in 2016. How the world adapts to these new technologies will define the coming decades.

Chinese exports fell by 7.7% in 2016, figures not witnessed since the global recession in 2009. It’s the second year in a row that exports have fallen, with analysts worried that the election of President Trump, who pledged to label China a currency manipulator, will dampen Chinese trading prospects further in 2017. China’s trade surplus with the US was above $350 billion in 2015 which could bring China to the negotiating table to find common ground with the new President. Read more about China's trade figures here.

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Energy UK has reported that nearly 5 million people changed energy suppliers in the UK in 2016. The upward trend in switching providers has continued for the past two years. The introduction of the Energy Switch Guarantee last year helped make switching easier and provided greater confidence for customers when switching supplier. New research for the Guarantee also reveals nine in ten (89 percent) people were satisfied with the overall switching process. To read the report, click here.

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