Progress report: With AI to innovation and sustainable growth

As a member of Germany’s AI Plattform Lernende Systeme it is very inspiring to read this progress report and learn what has been achieved by Germany’s best experts in this field.

Please find the LINK TO THE REPORT HERE

Concept and aims of the Platform

Self-learning systems are increasingly becoming a driving force behind digitalisation in business and society. They are based on Artificial Intelligence technologies and methods that are currently developing at a rapid pace in terms of performance. Self-learning systems are machines, robots and software systems that learn from data and use it to autonomously complete tasks that have been described in an abstract fashion – all without specific programming for each step.

Self-learning systems are becoming increasingly commonplace supporting people in their work and everyday lives. For example, they can be used to develop autonomous traffic systems, improve medical diagnostics and assist emergency services in disaster zones. They can help improve quality of life in many different respects, but are also fundamentally changing how humans and machines interact.

Self-learning systems have immense economic potential. As digitalisation takes hold, they are already helping companies in certain sectors to create entirely new business models based on data usage and are radically changing conventional value creation chains. This is opening up opportunities for new businesses, but can also represent a threat to established market leaders should they fail to react quickly enough.

Developing and introducing self-learning systems calls for special core skills, which need to be carefully nurtured to secure Germany’s pioneering role in this field. Using self-learning systems also raises numerous social, legal, ethical and security questions – with regard to data protection and liability, but also responsibility and transparency. To tackle these issues, we need to engage in broad-based dialogues as early as possible.

Plattform Lernende Systeme brings together leading experts in self-learning systems and Artificial Intelligence from science, industry, politics and civic organisations. In specialised focus groups, they discuss the opportunities, challenges and parameters for developing self-learning systems and using them responsibly. They derive scenarios, recommendations, design options and road maps from the results.

The Platform aims to:

  • shape self-learning systems to ensure positive, fair and responsible social coexistence,
  • strengthen skills for developing and using self-learning systems,
  • act as an independent intermediary to combine different perspectives,
  • promote dialogue within society on Artificial Intelligence,
  • develop objectives and scenarios for the application of self-learning systems,
  • encourage collaboration in research and development,
  • position Germany as the leading supplier of technology for self-learning systems.

Cash, Currency, Culture – the love affair of Germans and their coined liberty

It has been a great pleasure giving the keynote at the CashCon2020 together with Mirko Siepmann, member of the board at Bankhaus August Lenz and long term business partner of Prosegur Germany.

Jochen Werne – CDO/CVO – Prosegur Germany & Mirko Siepmann – MD – Bankhaus August Lenz

We reflected with the expert auditorium, topics as Cash versus Crypto, The rise and fall of cash through the ages; Why we Germans, of all people, stick so closely to cash and if ATMs – will soon be a thing of the past or will they withstand digital disruption?

„All things are ready, if our minds be so.“ Shakespeare and the 3rd ICT International Payment Summit

It was greatly stimulating discussing innovation and the impacts of modern technology on our business and society with international experts from South America, Europe and Asia at the 3rd Annual International Payment Summit, organised by ICT. All in the context of Coined Liberty 2.0

Find highlights here

You’re the captain, but with what ship and crew?

MANAGEMENT IN DISRUPTIVE TIMES

Author: Jochen Werne . Firstly published in the Academy for Leadership column in German. Translation supported by DeepL

“An analogy for business leaders in the financial industry that compares the challenging times of today’s technological enterprise transformation with the changes during the time of the industrial revolution when steam ships ended the centuries-long era of sailing ships.”

In 1971, the BBC began broadcasting a series on the history of James Onedin, who, as captain and later as shipowner, lived through the stormy times of industrialisation and the conversion of the entire industry from sailing to steam navigation. The series, which takes place in Victorian England in the second half of the 19th century, describes in a special way the subtleties of the interplay of a changing market. New technologies, new skills of market participants, increased conflict potential between entrepreneurs and managers and reorientation in an environment of shrinking margins – special challenges for those who tried to continue their business as before: with sailing ships.

The documentation shows impressively how highly hierarchical organisations like the Royal Navy react and often struggle in times of major technological changes

The captain is responsible for bringing his ship, crew and cargo safely and within a specified time and financial framework to the port of destination. But what if the ship is no longer able to do this and the competition suddenly moves across the blue oceans with completely different ships? What if the shipowner does not have the capacity to trust the new technologies or simply does not have the financial resources to re-equip his fleet? And what about the crew? Does the crew has the necessary skills to sail on the new ships?

Many captains of banks and financial institutions seem to have this scenario all too present. E.g. due to declining customer traffic in bank branches, the high costs for a broad branch network are hardly to be paid today. Germany as a financial centre is “overbanked”, interest rates in the basement – the conditions in Germany for successful banking have never been as challenging as they are now. To this end, customers are continuing to drive change in the industry with their changing demands on digital tools.

Outwaiting a problem or tackling it

The complexity of economic changes has been enormous in every epoch, the difference to current upheavals lies in the temporal component. If companies do not react immediate to market changes today, they might loose their customers faster than ever before. In such disruptive times, all those involved want an “efficient” change process. The only problem is that the term “change” is so omnipresent that it is often perceived as stress and overload. As a result, many levels of management fall into one of the following situations: either they try to sit out the situation and leave change to their successors, or they push many, often less effective measures in an attack of blind actionism. Active, thoughtful and vital change management is often neglected.

More entrepreneurial thinking

Processes of change require both superiors and employees. If the existing situation cannot be improved or adapted at any vertical level, it must be questioned. Concluding, this means for all those involved that situations must always be reflected and corrective measures initiated at an early stage.

Understanding the corporate culture is vital for a successful transformation

In many companies, however, this need for action, which has a high potential for conflict, is often insufficiently communicated. In some places there is a lack of interest for employee issues, a lack of error and conflict culture and a minimal willingness to change. If banks neglect these issues, change processes threaten to fail on a broad basis. This means that managers in a disruptive environment have a natural need for action. The implementation of new strategies, systems and structures and early adaptation to changing market situations are vital factors for survival. A well-known quote by former US President Wodrow Wilson (1913-1921) is particularly valid for today’s highly competitive financial sector: “If you want to make enemies, try to change something.”

Those companies that create the change will share the large financial services market with the new market players and use instruments that did not exist in the classic banking of the past.

Just like James Onedin, who for the longest time was an advocate of classic sailing ships, finally added a modern steamship to his fleet. And to facilitate the change for himself personally, he named the ship after someone he loved.