Artificial Intelligence for the Financial Services Industry: What Challenges Organizations to Succeed?

As a research field, artificial intelligence (AI) exists for several years. More recently, technological breakthroughs, coupled with the fast availability of data, have brought AI closer to commercial use. Internet giants such as Google, Amazon, Apple or Facebook invest significantly into AI, thereby underlining its relevance for business models worldwide. For the highly data driven finance industry, AI is of intensive interest within pilot projects, still, few AI applications have been implemented so far. This study analyzes drivers and inhibitors of a successful AI application in the finance industry based on panel data comprising 22 semi-structured interviews with experts in AI in finance. As theoretical lens, we structured our results using the TOE framework. Guidelines for applying AI successfully reveal AI-specific role models and process competencies as crucial, before trained algorithms will have reached a quality level on which AI applications will operate without human intervention and moral concerns

Addressing business agility challenges with enterprise systems

It is clear that systems agility (i.e., having a responsive IT infrastructure that can be changed quickly to meet changing business needs) has become a critical component of organizational agility. However, skeptics continue to suggest that, despite the benefits enterprise system packages provide, they are constraining choices for firms faced with agility challenges. The reason for this skepticism is that the tight integration between different parts of the business that enables many enterprise systems\u27 benefits also increases the systems\u27 complexity, and this increased complexity, say the skeptics, increases the difficulty of changing systems when business needs change. These persistent concerns motivated us to conduct a series of interviews with business and IT managers in 15 firms to identify how they addressed, in total, 57 different business agility challenges. Our analysis suggests that when the challenges involved an enterprise system, firms were able to address a high percentage of their challenges with four options that avoid the difficulties associated with changing the complex core system: capabilities already built-in to the package but not previously used, leveraging globally consistent integrated data already available, using add-on systems available on the market that easily interfaced with the existing enterprise system, and vendor provided patches that automatically updated the code. These findings have important implications for organizations with and without enterprise system architectures

From big data to big performance – exploring the potential of big data for enhancing public organizations’ performance : a systematic literature review

This article examines the possibilities for increasing organizational performance in the public sector using Big Data by conducting a systematic literature review. It includes the results of 36 scientific articles published between January 2012 and July 2019. The results show a tendency to explain the relationship between big data and organizational performance through the Resource-Based View of the Firm or the Dynamic Capabilities View, arguing that perfor-mance improvement in an organization stems from unique capabilities. In addition, the results show that Big Data performance improvement is influenced by better organizational decision making. Finally, it identifies three dimensions that seem to play a role in this process: the human dimension, the organizational dimension, and the data dimension. From these findings, implications for both practice and theory are derived

The effects of pilot stress factors on handling quality assessments during US/German helicopter agility flight tests

Flight tests were conducted with two helicopters to study and evaluate the effects of helicopter characteristics and pilot and task demands on performance in nap-of-the-Earth flight. Different, low-level slalom courses were set up and were flown by three pilots with different levels of flight experience. A pilot rating questionnaire was used to obtain redundant information and to gain more insight into factors that influence pilot ratings. The flight test setups and procedures are described, and the pilot ratings are summarized and interpreted in close connection with the analyzed test data. Pilot stress is discussed. The influence of demands on the pilot, of the helicopter characteristics, and of other stress factors are outlined with particular emphasis on how these factors affect handling-qualities assessment

A survey of simulation techniques in commerce and defence

Despite the developments in Modelling and Simulation (M&S) tools and techniques over the past years, there has been a gap in the M&S research and practice in healthcare on developing a toolkit to assist the modellers and simulation practitioners with selecting an appropriate set of techniques. This study is a preliminary step towards this goal. This paper presents some results from a systematic literature survey on applications of M&S in the commerce and defence domains that could inspire some improvements in the healthcare. Interim results show that in the commercial sector Discrete-Event Simulation (DES) has been the most widely used technique with System Dynamics (SD) in second place. However in the defence sector, SD has gained relatively more attention. SD has been found quite useful for qualitative and soft factors analysis. From both the surveys it becomes clear that there is a growing trend towards using hybrid M&S approaches

Bridging the gap between research and agile practice: an evolutionary model

There is wide acceptance in the software engineering field that industry and research can gain significantly from each other and there have been several initiatives to encourage collaboration between the two. However there are some often-quoted challenges in this kind of collaboration. For example, that the timescales of research and practice are incompatible, that research is not seen as relevant for practice, and that research demands a different kind of rigour than practice supports. These are complex challenges that are not always easy to overcome. Since the beginning of 2013 we have been using an approach designed to address some of these challenges and to bridge the gap between research and practice, specifically in the agile software development arena. So far we have collaborated successfully with three partners and have investigated three practitioner-driven challenges with agile. The model of collaboration that we adopted has evolved with the lessons learned in the first two collaborations and been modified for the third. In this paper we introduce the collaboration model, discuss how it addresses the collaboration challenges between research and practice and how it has evolved, and describe the lessons learned from our experience

A Conceptual Framework of Reverse Logistics Impact on Firm Performance

This study aims to examine the reverse logistics factors that impact upon firm performance. We review reverse logistics factors under three research streams: (a) resource-based view of the firm, including: Firm strategy, Operations management, and Customer loyalty (b) relational theory, including: Supply chain efficiency, Supply chain collaboration, and institutional theory, including: Government support and Cultural alignment. We measured firm performance with 5 measures: profitability, cost, innovativeness, perceived competitive advantage, and perceived customer satisfaction. We discuss implications for research, policy and practice

Leanness and agility as means for improving supply chains. A case study on Egypt

Supply chain management has received greater attention from the academics and the practitioners, however the literature review lacks a comprehensive view for supply chain management practices and how its members should act to contribute to its overall success (Li el at., 2005). In this era, where the business organisations are working in several challenging threats and opportunities, greater attention is given to supply chain management. Nowadays, companies are always searching for means to improve their supply chains. The main aim of this research is to show "how leanness and agility approaches can be used within the same enterprise as complementary means for improving its supply chain". To achieve this research objective, the research has provided an assessment and summarised the literature on the supply chain management, lean thinking and agility thinking including their importance; their definitions; their practices and the relationship between lean and agility. The resulted proposed framework deduced from the literature has been applied in the Egyptian Manufacturing Business to show the relationship between the agility principles, lean principles, entity performance and the successful supply chain