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NWT's updated website has also added a new article, categorised under "Grosvenor "Technology" (though not currently featured on GT's own website).
And it's another A1 article; this one on AI (artificial intelligence) - the first NWT-GT article specifically on this subject.
Which is very timely, to help highlight what an excellent and overlooked AI play NWT is.
"Insights
The power of AI in workforce management: unlocking productivity and efficiency
2023 is shaping up to be the year of AI. It seems scarcely believable that the current version of ChatGPT is less than nine months old. Very few technologies have become so widely used in such little time. Indeed, the AI platform can claim to be the fastest-growing application of all time, registering 100 million active users just two months after its launch.
By comparison, it took TikTok nine months to reach 100 million and Instagram two and a half years to get there. Google and Facebook took about five years each to reach 100 million users, although this was a vastly differing digital landscape.
There is an expectation that the next few years will see a generational shift. A recent report from Goldman Sachs says that AI could replace the equivalent of 300 million full-time jobs but will also drive millions more new roles and a productivity boom.
To illustrate the seismic effect AI is predicted to have, a 2022 AI report by PwC valued the potential contribution to the global economy driven by AI could reach $15.6 trillion by 2030. And as much as 14.5% of North America’s GDP could be directly influenced by AI over the same period.
AI is not a new concept, of course. It is already responsible for a significant impact in the workforce management industry, in particular, aiding enterprises to optimise performance, costs and worker happiness, while also achieving critical efficiencies.
Here, we highlight some of the major benefits that AI is having on the workforce management sector and give examples of how it might help your business operations. ..."
https://newmarksecurity.com/insights/the-power-of-ai-in-workforce-management-unlocking-productivity-and-efficiency/
https://newmarksecurity.com/insights/
"The power of AI in workforce management: unlocking productivity and efficiency ...
Optimised scheduling
AI-powered scheduling management systems utilise advanced algorithms and machine learning techniques to optimise schedule generation. These intelligent systems consider factors like employee availability, skills, preferences, workload, and business requirements to ensure scheduling works for the organisation and its people. AI blends historical data with real-time information, creating schedules that maximise operational efficiency.
Data-led decision-making
AI enables intelligent decision-making in workforce management by analysing large amounts, resulting in actionable insights. By harnessing AI algorithms and machine learning, enterprises are better placed to make informed decisions based on real-time information and historical data. AI empowers organisations to optimise performance, reduce costs, and improve worker satisfaction.
Cost reduction
AI contributes to workforce management by optimising how organisations utilise their people. By automating scheduling processes, enterprises can minimise manual errors, reduce overtime costs, and optimise staff deployment based on demand patterns. AI algorithms identify areas of improvement, such as excessive overtime or overstaffing, enabling businesses to make data-driven decisions that lead to cost savings.
Productivity gains
One of the central promises of AI in the business world is to help organisations find ways to improve their productivity levels. AI systems can allocate workforces more effectively through intelligent data analysis and considering factors such as employee availability, skills, and workload. This means fewer scheduling conflicts, reducing the chances of understaffing or overstaffing, and improved employee and customer satisfaction.
Compliance and regulation
Juggling the schedules of hundreds, if not thousands, of employees, is demanding work. Organisations must consider often complicated and lengthy workplace regulations, union laws, and other restrictions. AI is taking much of that complexity out. The technology can provide alerts and recommendations to ensure businesses adhere to company guidelines and workplace regulations.
Competitive advantage
AI-powered software empowers organisations to make faster, more accurate decisions, adapt to changing market conditions, and scale their workforce to meet customer demands. This ability to respond quickly and effectively to workforce challenges can set organisations apart from their competitors. ..."
https://newmarksecurity.com/insights/the-power-of-ai-in-workforce-management-unlocking-productivity-and-efficiency/
https://newmarksecurity.com/insights/
"The power of AI in workforce management: unlocking productivity and efficiency ...
... Undoubtedly, AI is having a transformative impact on the workforce management space, as it is across the entire business spectrum. Spending on AI tech is likely to soar in the coming years, with Wall Street investors seeing it as ‘the next big thing’. That’s good news for businesses keen to harness the full power of AI in their workforce management platform to deliver further enhanced analytics, advanced workforce planning, and more.
Grosvenor partners with a range of leading software channel partners who integrate their software – and all of the AI you’ll need – onto our devices.
So, when you invest in our hardware, you can choose the software that works for your business, ensuring you benefit from an all-encompassing solution that streamlines HR processes, saves time, and gives you the edge.
Find out more about our human capital management solutions here."
https://newmarksecurity.com/insights/the-power-of-ai-in-workforce-management-unlocking-productivity-and-efficiency/
https://newmarksecurity.com/insights/
"How Some Experts See The Future Of AI In 2024
Jennifer Kite-Powell Senior Contributor
I'm a senior tech contributor who writes about science and technology
Dec 29, 2023,06:45pm EST
... Sustainability
Kaitlyn Albertoli, CEO and co-founder of Buzz Solutions cites sustainability as a market for impact. ...
“There is a fundamental research challenge around energy use in the face of an energy crisis and climate change; it is estimated that 21% of the world’s overall energy usage by 2030 will be computing power alone, yet technologies in AI, cloud, and quantum are inherently power-hungry,” said John. ...
Security
Joseph Thacker, principal AI engineer and security researcher at AppOmni says AI security will be increasingly focused in 2024. ...
"There will be numerous startups, potentially hundreds, focused on AI security, and every major application will incorporate AI features, a shift that will inevitably introduce new vulnerabilities." ...
Commerce
Chris Anley, chief scientist at NCC Group, takes a different view and says commerce will be the most important AI trend for 2024. ...
"Organizations have struggled to keep up with the tricky balance of enabling staff to use these systems while keeping their sensitive information secure," said Anley. ...
"Businesses are seeing that there are real financial benefits to be gained – perhaps not the science fiction style capabilities predicted by some, but certainly practical, measurable improvements in productivity," said Anley. "Now that these benefits are becoming clearer - in financial terms - investment by companies in these systems will increase." ...
Enterprise
Varun Badhwar, CEO and co-founder of application security startup Endor Labs, predicts where AI will go from here. ...
Badhwar says businesses must prioritize the development of robust governance frameworks and visibility tools. "The focus should extend beyond the mere integration of AI solutions and encompass a holistic approach that addresses security, compliance, and ethical considerations," he said. ...
"In an era where data is a prized asset, and AI is a powerful catalyst for business growth, the responsibility lies with industry leaders, policymakers, and technology providers to collaboratively build a foundation for responsible AI adoption," adds Badhwar. ..."
https://www.forbes.com/sites/jenniferkitepowell/2023/12/29/how-some-experts-see-the-future-of-ai-in-2024/?sh=6309998e2534
So sustainability, security, commerce, and data protection should be key AI (artificial intelligence) drivers in 2024: all areas in which NWT is very strong.
Which further helps to help highlight what an excellent and overlooked AI play NWT is.
"Stock Market Forecast 2024: A Soft Landing May Not Bring The Gains You Expect
SCOTT LEHTONEN 06:15 PM ET 12/29/2023
The stock market climbed the wall of worry to impressive gains in 2023. After that big run, the stock market forecast for 2024 hinges on a key question: Will the Federal Reserve achieve a soft landing for the U.S. economy? And in a related question, can stocks extend gains?
Wall Street is mostly convinced that the Fed will reach its goal of a soft landing for the U.S. economy. That means there will be slower economic growth, but no recession, leading to interest rate cuts in 2024.
In that environment, most analysts predict improved corporate earnings growth for S&P 500 companies. As for how the stocks will perform in the coming election year, 2024 forecasts for the S&P 500 vary widely, but the consensus seems to fall in the range of 8%-9% gains, a little under the index's historical average of about 10%. Among other trends, artificial intelligence is widely considered to remain a key investing theme in 2024. ...
Stock Market Forecast 2024: AI Stocks
... "We believe a theme in 2024 will be less about AI's 'creators' and more about AI's 'adopters' — across the spectrum of industries and sectors — as companies increasingly focus their capital spending on productivity-enhancing investments," Liz Ann Sonders, chief investment strategist, and Kevin Gordon, senior investment strategist, wrote in Charles Schwab's 2024 outlook. ..."
HTTP://www.investors.com/news/stock-market-forecast-2024-a-soft-landing-may-not-bring-the-gains-you-expect/
So 2024 should also be more about AI 'adopters' rather than 'creators'; with NWT operating at the nexus between these two, and poised to profit handsomely from this in the months and years ahead:-
"The power of AI in workforce management: unlocking productivity and efficiency
... Grosvenor partners with a range of leading software channel partners who integrate their software – and all of the AI you’ll need – onto our devices. ..."
https://newmarksecurity.com/insights/the-power-of-ai-in-workforce-management-unlocking-productivity-and-efficiency/
https://www.grosvenortechnology.com/insights/the-power-of-ai-in-workforce-management-unlocking-productivity-and-efficiency/