Industry news

A recent survey reveals that IT professionals are more concerned about cyber security than losing their job to artificial intelligence. Only 18% of respondents were concerned about the impact of AI, while cyber security garnered 91%. AI appears to be generating new jobs according to a recent study by Capgemini.

KPMG have removed the leadership team from its South African arm due to the connection with the Gupta family. Although there is no evidence of wrong doing, KPMG said that work 'fell short' of their standards. The Gupta family have been involved in an influence peddling scandal in South Africa and the government of Jacob Zuma.

US credit rating firm, Equifax, has removed two senior staff in the continuing fallout from a data breach last week. Data of 143 million US citizens may have been stolen along with information on UK and Canadian citizens. The company is working with the FBI to continue investigations.

Financial advice from a robot is becoming increasingly popular as people believe it will be faster, cheaper, and more impartial than human advice. Consultancy firm Accenture found that 68% of global consumers would be happy to use robo-advice to plan for retirement with customers feeling awkward with face-to-face discussions over financial planning. Robo-adviser firms use algorithms to analyse your financial situation and goals and then work out an investment plan to suit you. Many of these robo-advisers will offer human advice as well to, support you if your finances are more complicated or you need tax planning services as well, another example of automation supporting the generation of more specialised jobs for human workers. You can read the full report on the BBC website.

More news from sourcingfocus: Downing Street Looks for Business Support Over Brexit

The CEO of Deutsche Bank said a "big number of staff will eventually be replaced by robots” as it looks towards artificial intelligence technology.Thousands of Deutsche Bank staff could lose their jobs as the German financial services giant replaces “people behaving like robots” with robots acting like people. Technology such as artificial intelligence (AI) and automation software is taking over many repetitive tasks at businesses, with the financial services sector leading the charge.

More news from sourcingfocus: Robo-Advice Increasingly Popular for Investment Plans

More news on the cyber security front, a major breach as financial services company Equifax has been attacked in a hack that may have compromised the personal records of 143 million American consumers, along with an undisclosed number of people in the UK and Canada. The perpetrators exploited a vulnerability in a US website application to gain access to confidential information – including names, social security numbers, birth dates, addresses and driver’s license numbers, as well as around 209,000 credit card numbers – over a two month period from May 2017. Cyber security is a growing market for the sourcing industry and we discussed it at the GSA Symposium a couple of months ago, read the report here.

Civica, a leader in business critical software applications, digital solutions and outsourcing services, has partnered with Greater Manchester Mental Health NHS Foundation Trust (GMMH) to provide the Trust with a new Electronic Prescribing and Medicines Administration (ePMA) solution, Civica Prescribing. Developed with a specialist user group of nurses, pharmacists and doctors, Civica Prescribing ensures safety and efficiency for prescribing and medicine administration. The system will support the Trust’s long-term vision for electronic prescribing and medicine optimisation including specialised capabilities for mental health and substance misuse cases. Civica Prescribing will initially be rolled out across the Substance Misuse Specialist Services at GMMH, one of the largest non-private substance misuse services in the UK, which includes six sites across the North-West of England and works with more than 5,200 patients.

More news from sourcingfocus: Artificial Intelligence Threatens Jobs in BPO Industry

HCL Technologies (HCL), a leading global IT services company, today announced a new strategic partnership with Alpha Insight, an intelligent products and solutions company headquartered in London, UK, with industry leading expertise in Business Flow Monitoring and Operational Intelligence. The transaction, which includes purchase of select assets, bolsters HCL’s DRYiCE™ Platform and its positioning as an Enterprise A.I Foundation. Integration of Alpha Insight’s iControl product into the DRYiCETM suite of products, provides deep visibility into end–to–end horizontal business flows and robust operational intelligence to Digital Enterprises.

More news from sourcingfocus: HCL Acquires Automation–Driven Data Management Platform

WNS (Holdings) Limited, a provider of global Business Process Management (BPM) services, today announced that it has been named as a ‘Leader’ in the IDC MarketScape: Worldwide Finance and Accounting (F&A) BPO Services 2017 Vendor Assessment Report. The IDC MarketScape report recognizes WNS’ strategy and delivery models, including the company’s commitment to tools, methodologies, and technology-enabled “as a service” offerings with embedded robotics and analytics. The IDC MarketScape also cited WNS for its vertical and geographic market expansion focus, and tuck-in acquisition strategy.

More news from sourcingfocus: HCL Announces Strategic Partnership with Banking Solutions Provider Alpha Insight

Capgemini, a leader in consulting, technology and outsourcing services, has today announced the findings of “Turning AI into concrete value: the successful implementers’ toolkit”, a study of nearly 1,000 organizations with revenues of more than $500m that are implementing artificial intelligence (AI), either as a pilot or at scale. The research both counters fears that AI will cause massive job losses in the short term, as 83% of firms surveyed say AI has generated new roles in their organizations, and highlights the growth opportunity presented by AI: three-quarters of firms have seen a 10% uplift in sales, directly tied to AI implementation. To see the full report, click here.

More news from sourcingfocus: Non-IT Workers Could Fill Cyber Security Shortfall