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Dial AI for mental health. Are you serious?

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  • Now more than ever, organisations need to address this issue – if it goes ignored, it will have a profound impact on global productivity as well as the personal and professional lives of the global workforce.

The world celebrated the World Mental Health Day recently and the recent survey showed that people voted overwhelmingly in favour of speaking to a robot to discuss mental health issues. 

That people are dealing with higher levels of stress and anxiety than ever before is stating the obvious. But at a time, when all of us are yearning for a ‘return to the normal’, stats such as these sound crazy, even a bit depressing. Only they are not. Here’s how:

I don’t judge you

Gaurav Bhatnagar.

We asked: “What can a robot do to support your mental health better than humans?” And workers said that robots can support their mental health better than humans by providing a judgment-free zone, giving them an unbiased outlet to share their problem, and quickly answering their health questions.

Employees don’t really feel comfortable going to HR, for instance, and saying, “Hey, I’m suffering from burnout.” There is a lack of trust, a fear that they might get laid off or suffer in some way if they ask for help.

The human element

We asked: “What can humans do to support your mental health better than a robot?” The top answers were: understand the pressures of my job, interpret my feelings when I don’t know how to explain them, and make me feel safe and secure.

That tells us that humans will handle the emotional high-touch aspects of mental health, and the process and problem-solving aspects will be with machines. This also means that HR needs to lay more emphasis than ever on consistently training new and existing managers and leaders on ‘Emotional Intelligence’.

So, where do we go from here?

The term ‘robots’ actually refers to ‘technological automation’. This is a bit more inclusive than what people traditionally think of as a robot. In any case, they can help automate tasks and decrease workload. They can also help people prioritise tasks and get answers to questions quicker. This all helps prevent burnout, thus directly supporting mental health.

The study shows that if we invest more in technology to streamline the workday, it can make people’s lives easier. The study found that AI has helped over half of the workers shorten their workweek and allows them to take longer vacations, improving job satisfaction overall.

If companies promote mental health programs and invest in employee assistance programs in the workplace, then they’re helping workers focus. Workers will feel like their organisation is taking care of them and cares about them, and therefore, they’re more willing to stay with the organization longer, work harder, and recommend their organisation to peers.

Technology is not the full solution

Therapists won’t magically lose their jobs. Therapy is going to be a combination of human and machine, and those roles will evolve over the years.

The global pandemic has created a seismic shift in workplace mental health. Now more than ever, organisations need to address this issue – if it goes ignored, it will have a profound impact on global productivity as well as the personal and professional lives of the global workforce.

The silver lining

The silver lining is that the pandemic has helped call attention to employee mental health and prompted organisations to start taking action like never before. What is clear from this study is that people want their employers to do more to help them deal with this increased stress. Undoubtedly, the time to act is now!

  • Gaurav Bhatnagar is the Senior Director for Corporate Communications at Oracle Middle East and Africa.

Tabby raises $23m in largest ‘Series A’ funding round in the Mideast

  • Funding led by led by Arbor Ventures and Mubadala Capital, with participation from STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and Arab Bank.

Tabby, the leading UAE and Saudi-based buy now pay later (BNPL) provider has raised ‘Series A’ financing of $23 million in debt and equity led by Arbor Ventures and Mubadala Capital, with participation from STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and Arab Bank.

The funding will fuel the company’s next stage of growth, helping tabby materially scale its product and engineering capabilities in addition to its lending capacity, further benefiting its merchant partners and consumers.

The ‘Series A’ financing builds on an exceptional year for Tabby which saw a rapidly growing roster of large-scale retailers and market momentum driven by evolving consumer demand.

Founded in 2019, Tabby partners with retailers to offer their customers online or in-store the ability to defer paying for their purchases for up to 30 days or to pay in four equal monthly instalments at zero cost to the consumer.

Room for growth

Today, Tabby’s customers are able to use its service across more than 500 integrated merchants, including leading global brands like IKEA, Toys R Us and Ace Hardware and regional retail giants including Al Futtaim Group, Landmark Group and Apparel Group.

According to a report by Kearney Middle East, the average share of GCC households that have bought goods online has reached over eight per cent in 2020. Given the range in developed markets sits at 16 to 25 per cent, there is significant room for growth.

This digital shift is also seen offline, with mobile payments for PoS transactions in Saudi Arabia having grown 495 per cent for the past year until September, according to Saudi Payments.

Furthermore, as banks across the region have tightened their credit policies and consumers increasingly seek ways to manage their finances, tabby has seen tremendous market adoption of its BNPL offering.

Melissa Guzy, Managing Partner at Arbor Ventures commented: “We are very excited to have backed Tabby, the leader in BNPL in MENA which is at a tipping point in digital payments.  

“Buy-now-pay-later solutions are booming globally thanks to accelerated payments digitization and e-commerce penetration, and the Middle East is no exception. Tabby’s solution fits squarely within our thesis that fintech solutions will drive better experiences for merchants and consumers. We are excited to partner with Hosam and his team as they build tabby into a regional fintech leader,” Ibrahim Ajami, Head of Ventures at Mubadala, said.

Hosam Arab, co-Founder and CEO of Tabby, said the shift to online retail has never been more evident, and with it, consumers are becoming ever more demanding as they actively seek convenience and reliability in their shopping experience. And this includes how they pay for their purchases.

“We’re very proud of the value we’ve been able to bring our retail partners by providing their customers with an exceptionally convenient and flexible way to pay,” he said.

CIOs need to build on the momentum they created for their enterprises during Covid-19

  • Top-performing enterprises are accelerating digital innovation and leveraging emerging technologies to come out stronger on the other side of the pandemic.
  • Organisations that have increased their use of digital channels to reach customers are 3.5 times more likely to be a top performer than a trailing performer.

2021 will be a race to digital, with the spoils going to those organisations that can maintain the momentum built up during their response to the pandemic, an industry expert said.

“Nothing, yet everything, has changed for the CIO. The support for remote work that the Covid-19 pandemic brought on might be the biggest win for CIOs since Y2K. They now have the attention of the CEO, they have convinced senior business leaders of the need to modernise technology, and they have prompted boards of directors to accelerate enterprise digital business initiatives,” Andy Rowsell-Jones, Distinguished Research Vice-President at Gartner, said.

CIOs must seize this moment because they may never get another opportunity like it, he said.

According to 2021 Gartner CIO Agenda survey gathered data from 1,877 CIO respondents in 74 countries and all major industries, top-performing enterprises are accelerating digital innovation and leveraging emerging technologies to come out stronger on the other side of the pandemic, which has arguably been the most significant “turn” in 2020, according to Gartner, Inc.’s annual global survey of CIOs.

In 2021, he said that CIOs must build on the momentum they created for their enterprises.

“The better CIOs perform for the business, the more the business will ask of them next year,” he said.

The CIO survey revealed four ways CIOs can make a difference in digital business acceleration and long-term agility – win differently, unleash force multipliers, banish drags and redirect resources.

Win differently

CIOs can help the enterprise anticipate the increasingly digital interactions expected by customers. In India, 76 per cent of survey respondents said that demand for new digital products and services increased in 2020, with even more respondents (84 per cent) reporting that it will increase in 2021.

 “This is a watershed moment for CIOs. There is no going back to the way business used to be,” Rowsell-Jones said.

The survey uncovered two areas of customer digitalisation where top performers* are significantly more aggressive than typical performers: the use of digital channels to reach customers and achieve citizen engagement, along with the rate of introduction of new digital products and services. Nine out of ten of the top performers are pursuing digital channels, and almost three-quarters are introducing digital products faster.

Organisations that have increased their use of digital channels to reach customers are 3.5 times more likely to be a top performer than a trailing performer.  

“Those at the top have gone all-in on digital business, and they have developed the capabilities to allow them to do it,” Rowsell-Jones said. 

Unleash force multipliers

Respondents were asked to characterise certain changes related to enterprise IT leadership trends as a result of the pandemic. Roughly 70 per cent of CIOs deepened their knowledge of specific business processes to advise the business, and the same proportion did more to measure and articulates the value of IT. 

“Although the Covid-19 response appeared to be a simple exercise of deploying PCs, it created profound opportunities for CIOs,” Rowsell-Jones said. 

“CIOs were able to refocus IT leadership around digital business acceleration and remodel the enterprise’s core technology. At one point or another, every CIO got a chance to shine during the pandemic.”

Banish drags

The survey found that CIOs can help accelerate digital by systemically seeking out and eliminating drags (e.g., detrimental employee productivity as many staff move to working from home and falling cost competitiveness due to rapid changes in business conditions during Covid-19). 

While most respondents reported they were behind in sales volumes during the pandemic, only 29 per cent of top performers in India reported a decrease in sales volume versus 45 per cent of typicals and 62 per cent of trailings. 

However, there were still a few areas that stood strong: Respondents reported increased performance for new business initiatives, acquisitions, cost competitiveness, and employee productivity.

Although revenue took a big hit, Rowsell-Jones said that CIOs decided to fight back rather than go into a defensive crouch. 

When asked about shifts in demand, 58 per cent of top performers reported an increase in demand from new post-Covid customers versus 49 per cent for the typical group and 37 per cent for those trailing. 

Redirect resources

Survey respondents projected a two per cent IT budget increase for 2021, on average – slightly down from the 2020 survey (2.8 per cent). To direct investments and people toward new business priorities in the Renewal phase, top performers are leaning into this shift more than typical or trailing performers, with 63 per cent of top performers stating funding for digital innovation has increased and only 52 per cent of typical performers reporting the same. 

Organisations that have increased their funding of digital innovation are 2.7 times more likely to be a top performer than a trailing performer.

 “Top performers got a head start because their CIOs faced fewer constraints. They were more likely to secure additional IT funding to support experimentation than their typical and trailing counterparts,” Rowsell-Jones said.

Covid-19 fuels the starting point of Cloud 2.0 era in India

  • End-user spending on public cloud to grow 29% in 2021 to $4.1b.
  • There is still a long road ahead for Indian enterprises to achieve the same market maturity as the US or Europe.

Indian enterprises are at an early stage of cloud adoption as compared to their global counterparts but Covid-19 has given a shot in the arm to the adoption rate significantly as CIOs migrated from legacy systems to public cloud services to maintain business continuity and resilience through 2020.

“Indian enterprises were not ready for the large scale of remote work. However, public cloud delivered on its promise of scalability, cost efficiency and business resilience for Indian enterprises during this critical time in 2020. The onset of the pandemic was the starting point of the Cloud 2.0 era,” Sid Nag, Research Vice-President at Gartner, said.

As digitalisation efforts further evolve in the country, he said that public cloud will become a must have technology for Indian enterprises.

Moreover, he said that Indian enterprises moved critical business applications such as email, web hosting, customer relationship management , enterprise resource planning  and human resources to the cloud, ensuring employees can access them anytime and from anywhere in the world, as long as they have internet access.

SaaS to have a larger pie

The recent investment by hyperscalers, such as Amazon Web Services, Google Cloud and NTT, in India further testify the opportunities for public cloud to grow in this market.

Nag said that the low cost of entry provided by public cloud services will be a big influence on Indian CIOs to increase their spending on this technology in the price sensitive market.

Hence, end-user spending on public cloud services in India is expected to increase 29.4 per cent to $4.1 billion in 2021 compared to $3.2 billion this year.

In 2021, spending on managed services and cloud infrastructure will make up eight per cent of total IT spending in India.

Although the cloud application services (SaaS) segment is forecast to be the largest segment in the public cloud services market in India in 2021, cloud system infrastructure services (IaaS) will experience the largest growth at 44.6 per cent.

 “While end-user spending on cloud in India is increasing, there is a long road ahead for Indian enterprises to achieve the same market maturity as the US or Europe. India-based organisations and their CIOs need to focus on the cultural shift that will make them cloud-ready and give them a competitive edge,” he said.

Learning for the rest of your life

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  • The new millennium requires businesspersons with an abundance of soft skills.

When living in such turbulent times, each of us has a need to remain marketable – in other words, remain employable.

In the ever-shifting sands of the corporate world and business, our work has value and meaning only if we can participate in teamwork, ad hoc projects, and develop new skills all the time. We are not only evaluated by the boss but also by our peers and subordinates. Worse, the evaluation is harsher than it used to be at any time before.

The strength of a chain is determined by its weakest link. If we happen to be among the weaker members of our teams, our association with the team will be short-lived indeed. We will be shunned. No one will be willing to include us. The evaluation system will be more self and peer driven. To be able to survive in the midst of such drastic change, We have no choice but to constantly add to our repertoire of skills.

We will require substantial width of knowledge, and sufficient understanding of various disciplines, such as finance and distribution. Being an expert at something and knowing enough about many other things sounds contradictory, but that’s what we need today.

The ability to be a team player and yet to be an all-in-one business person – one who can put together a balance sheet, an income statement, run a little business. A one-person army if you like.

Knowledge worker

In short – a specialist as well as a generalist; a team worker as well as a one-person business. The contradiction stares us in the face.

In such a frightening environment if we haven’t re-invented ourselves every couple of years we won’t have a job. A job does not necessarily mean only working for someone. It also applies to being in the job of running one’s business.

The knowledge worker has to show why he or she should be retained, what benefit he or she can offer to the organisation, and how he or she can add value to whatever the organisation does.

How are we more valuable now than a year ago? What services have we rendered? Who among our customers can vouch for us? What value have we added to our organisations? What knowledge have we shared with the people we work with? What glorious failures have we had? What remarkable lessons did we learn from those failures? And what curious and creative things do we intend doing in the coming year?

Our evaluation would include in-depth reference checks from our peers as if we were about to change jobs. The best references would point to the winners. Having done well in each job won’t be enough. Each job change will have to demonstrate better performance under different circumstances.

Critical thinking skills

We will have to learn to live without the convenience of pointing our fingers in some other direction for failure. That option is rapidly vanishing. One has to take the good with the bad all by oneself.

The ability to tap into networks will mean that we will have to know how to use a computer just like we know how to use a TV or a telephone today.

During the last two decades, management schools have concentrated all their efforts upon building the analytical skills of their graduates. Analytical skills are undoubtedly important. So are critical thinking skills. Only very recently have they started focusing on skills involving attitudes, participating in teams, understanding the mind-set of other cultures, operating in a global environment, communicating with clarity, and being creative.

The new millennium requires businesspersons with an abundance of soft skills. If management schools fail to provide them, people will seek this knowledge elsewhere. The ‘global village’ is no longer a distant dream that the Wright brothers imagined. National boundaries are no longer relevant except in books of geography and matters of defense. They mean less and less for business. Trans-national business has come to stay.

The successful trans-national business executive has to comprehend the cultures of other countries, other cities, other places, and other regions. If we can’t communicate in a few languages we will suffer a serious disadvantage. If we can’t eat different kinds of food, we will starve in most places.

If we spend all our time learning how to analyse hard data, we will have precious little time left to do real work. We will end up becoming a victim of paralysis by analysis. Soft issues are assuming far greater importance than hard issues in today’s decision making.

When we begin our careers we are young, smart, lean, and mean. Thanks to these attributes we begin to taste success. But successes are almost always followed by failures, since success rapidly overcomes us.

Connecting the dots

We are lulled into a false sense of superiority. In the aftermath of success, we begin to eat and drink too much. Slowly but steadily, the layers of fat begin to add. Now, if we continue to be smart, we step on the fitness machine and get rid of those layers of fat. That’s fine for the body, but what about the mind?

Don’t we have to keep the mind fit by letting knowledge enter and excite it? How can we ensure the purposeful flow of fresh blood in the head without exciting it with new knowledge? The executive of the traumatic 21st will require lifelong exercises not only on the physical fitness machine but on the mental fitness machine as well. In effect, the executive of tomorrow will have to become a lifelong learner.

Steve Jobs spoke about “Connecting the dots” when addressing students at Stanford University and showed how one thing in your life always leads to the other – how his biological Mother’s obsession led him to attend college, drop out, attend only the classes he chose, which led that to his interest in calligraphy, which in turn became a differentiating factor about Apple.

When the events unfurled, he had little idea of how it would all come together. Each valuable step was a piece of the jigsaw puzzle of his life.

So, there is a larger meaning to everyone’s past and current situation – sometimes happy and sometimes difficult. Yet, it is all a run-up to something larger, something yet to happen.

Most of the times, Steve says, we can only connect the dots looking backward. But sometimes, we come across people who can connect the dots looking forward as well. These are the ones who have a vision for the future. It may be a personal vision or an organisational one. Once they build that vision, it develops a life of its own; it attracts other people who commit to a shared vision and go on to build a vision community.

All such people have one thing in common – They are all lifelong learners.

How about us? Where do we fit?

  • Niranjan Gidwani is an independent consultant director and former CEO of Dubai-based Eros Group.

Covid: A wake-up call for many organisations to revive their IT strategies

  • Organisations need to become more composable in their business.
  • With composability, CIOs can achieve digital transformation, greater resiliency and innovation through disruption.
  • IT spending in India is expected to grow 6% next year to $81.9b from $79.3b this year as CIOs start positioning IT not as just a growth enabler but a ‘survival necessary’ strategy.

Companies that do not invest in digital technologies and reinvent will have to retire some of their businesses, an industry expert said.

“Businesses that rely too heavily on manual work and resisted in investing in technology over the years, especially digital commerce, will be badly hit. If they haven’t awakened yet to the call and continue as is, their survival is going to be a big challenge,” Arup Roy, Research Vice-President at Gartner, said at the virtual Gartner IT Symposium/Xpo India.

Organisations that were digitally sound in a pre-pandemic world could contain the impact on their business, he said and added that the pandemic situation was a wake-up call for many organisations to relook and revive their IT strategies and increase their spending on IT in 2021.

“We have seen much of disruptions this year but the good news is that the businesses have responded quite well. The credit goes to the technology and CIOs offices. CIOs are leading their organisations through increasing turmoil,” he said.

In 2019, he said that there were 365 million office-based desktop workers globally but in 2020, more than one billion people are working from home. 

“It was a mega shift and it is really not easy. CIOs rose to the challenge, prioritised their digital strategies, innovated and adapted for the future,” he said.

According to a survey conducted by the research firm, 69 per cent of corporate directors want to accelerate their digital business initiatives and more than 60 per cent of poll respondents believe that they are in a period of long and sustained disruption.

Digital transformation

 “It shows that the mandate is now top-down and it is going to accelerate from here. You have to be agile to face disruptions. There are going to be disruptions and there is not going to be any respite on that.  The answer is to become more composable in your business,” Roy said.

Composable Business means – architecting for resilience and accepting that disruptive change is the norm; supporting a business that exploits disruption by making things modular; mixing and matching business functions to orchestrate the proper outcomes; supporting a business which discovers when a change needs to happen and using autonomous business units to creatively respond.

Roy said that composable Business allows for quick action in moments of composability.

With composability, he said that CIOs can achieve digital transformation, greater resiliency and innovation through disruption.

“CIOs can compose a new and better enterprise and bring composure to a world that needs it now more than ever. CIOs throughout the private and public sectors are using composable business to combine what their organisations do well with new technology and ecosystem resources,” he said.

Even though Covid-19 stalled many digital transformation projects for Indian enterprises due to market uncertainties and reduced cash flows, he said that IT spending is expected to grow six per cent next year to $81.9 billion from $79.3 billion this year.

In 2019, the IT spending stood at $92 billion.

In 2021, Roy said that IT spending growth will return as CIOs start positioning IT not as just a growth enabler, but a ‘survival necessary’ strategy.

Digital India mission

Contrary to other markets where spending declined across all segments, he said that CIOs in India continued to spend on enterprise software, IT services and communication services in 2020.

While all segments will experience an increase in spending, the enterprise software segment will achieve the highest growth of 13.6 per cent, followed by data centre systems at 8.3 per cent in 2021.

“The ‘Digital India’ mission will turn a new leaf in 2021 as enterprises across all sectors start spending more on IT. The pandemic provided an opportunity for Indian CIOs to test long-pending projects such as remote working, which delivered on-promise for many enterprises and helped them stay afloat in the most testing times,” Roy said.

“The success of these digital innovations has brought back the focus on investments in IT.”

In 2021, he said the focus of IT spending will be in becoming a truly digital business and CIOs will direct their IT spending budgets towards accelerating digitisation efforts.

Spending is expected to increase on technologies including advanced analytical solutions, access management, encryption software, desktop as a service, cloud, and hyperautomation enabling systems. IT solutions such as robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), and digital commerce will also experience an increase in spending.