Business implications of AI within tax & accounting — from reuters.com by Yuiko Nakao (Japan)

Excerpt:

With AI promising the greatest transformation in many industries, including tax & accounting, we need to begin asking what the implications of this will be.

Artificial intelligence (AI) continues to promise the greatest level of transformation within many industries, including tax & accounting. “The global AI market was valued at $62.35 billion in 2020, and is expected to expand at a compound annual growth rate of 40.2% between 2021 to 2028,” according to Grand View Research.

 

Developing managers to succeed in the hybrid world of work — from chieflearningofficer.com by Tony Anticole
To manage effectively in a hybrid work environment, managers need the ability to tap into the intrinsic motivators within their teams.

Excerpt:

Two years ago, if someone asked you how performance would be impacted if people started working from home, what would you have said?

This question was explored by Nicholas Bloom years before the COVID-19 pandemic. Across a two-year period, he partnered with a company to study people working from home versus in the office. He found working from home led to a 13 percent boost in performance, which is roughly getting six days of output for five days of work and a decrease in attrition by 50 percent.

Ten years later, the COVID-19 pandemic forced a replication of this study on a global scale and the findings were strikingly similar. Gartner found the percentage of high performers increased as workers’ flexibility increased; 36 percent of employees working regular hours in the office were labeled as high performers, while 55 percent of remote employees with more flexibility were labeled as high performers. That’s the equivalent of transforming an additional one out of five people on your team from an average to high performer.

 

Growth Mindset Leadership & The Pygmalion Effect — from by Trevor Ragan and the Learning Lab; featuring Robert Rosenthal, Christine Rubie-Davies, and Michael Merznich. With thanks to Chris Church, Tenured Professor and prior Associate Dean of Academic Programs at the WMU-Cooley Law School
Our mindsets impact others more than we realize. As leaders, we can use this to improve the learning environment.

Excerpt:

We know that our individual mindsets (growth mindset & fixed mindset) can impact our capacity to grow. But how do our mindsets impact others?

Renowned researcher, Robert Rosenthal outlines his work and shows how our expectations can have a huge impact on the performance and development of the people around us.

Christine Rubie-Davies from the University of Auckland shows us how teacher expectations play a role in student development.

From DSC:
I highly recommend that all professors, teachers and student teachers, trainers — and even those supervising others — check this piece out! Nice work Trevor & Company! Below are some snapshots from this presentation.

The agenda for Trevor Ragan's presentation re: the Pygmalion Effect

 

Whatever you think your limits are...you're wrong.

 

There are many labels that we put on others -- and that has real consequences and ramifications...both positive and negative depending upon the label.

Teachers expectations of someone matters!

 

The Pygmalion Effect -- our labels and expectations can become self-fulfilling prophecies

 

Put the label of learner at the top! We can all grow and learn, even though we aren't all equally gifted in all disciplines.

 

The art of the pivot — from chieflearningofficer.com by Jay Campbell and Doug Glener
Try these four tactics the next time you have to change direction.

Excerpt:

The ”first pancake” metaphor — a test to see if the batter and heat are just right — is an example of framing. The results are informative, but not pretty. Framing an experiment as a first pancake lowers the stress and pressure while simultaneously making the experiment fun and playful. Leaders who successfully frame a situation can shift people’s attitudes about even the most intimidating changes.

Supporting healthier minds through learning and development — from chieflearningofficer.com by Elizabeth Loutfi
L&D teams have helped to alleviate some of the stress and anxieties people are feeling as their organizations grapple with pandemic-related changes and challenges.

Meet the CLO Advisory Board: Bob Mosher — from chieflearningofficer.com by Elizabeth Loutfi
Meet longtime CLO advisory board member Bob Mosher, CEO and chief learning evangelist for APPLY Synergies.

CLO: What lessons did you learn back in 2020 that you’ve taken with you into 2021?
For me, it’s the art of listening. As educators, we’re supposed to have answers and we’re supposed to be the owners of content and the developers of programs. We get help from the business, but we’re very locked in our ways. Understandably so, but all of our ways were thrown out last year. My instinct, and many, was to rush to solution, rush to help. That was fairly humbling for me. It was a year to reflect and sit back and examine my commitment to things over doing the right thing. It taught me that — which L&D should do well anyway, but when you get senior like me and you’ve done it a bunch of times — you guess people’s right answer, or think you can. Because there was no normal and we weren’t making courses like we always used to, it was a year of reflection and listening for me to kind of rekindle that skill.

5 ways to foster a learning culture — from chieflearningofficer.com by Jonathan Finkelstein
By placing importance on growth at all levels of the organization, you can foster a learning culture that serves your people and helps your business grow.

 

The day Jason T. Smith liberated his people from the tyranny of hierarchy to collaborate and grow — from linkedin.com by Jeremy Scrivens

Excerpt:

I have been writing how 2nd stream future of work leaders will create an organisation design where their people don’t get hard wired to obsolete 1st stream job descriptions but are freed up to join collaboration of strengths. They sign up to #We based Charters of Collaboration.

A 2nd stream future of work leader disrupts the prevailing vertical and siloed design of organisations where people are bolted to individual managers. Instead, they join ecosystems of work, where people collaborate to a shared purpose. The configuration of teams is not based on job title or function but on the nature of the projects and the strengths required from the shared one talent pool.

That day, in sharing their stories, every person in the room experienced exceptional thriving because they were treated as equal partners in the work to imagine and co-create the future.

The two streams in the future of work -- reflections by Jeremy Scrivens by comparing first streams with second streams

 

A message about learning from the C-suite — from chieflearningofficer.com by Patricia A. McLagan
Executives are increasingly saying they want to create “learning organizations” and support “lifelong learning.” So, what should executives be saying to their workforce about learning today? Consider this sample letter to employees from the C-suite.

Excerpts:

How are you keeping up your skills and knowledge in our increasingly complex and fast-changing world of work? As today’s pandemic turmoil reminds us, it is hard to predict how the future will evolve. But one thing we do know is that continuous learning will be a key survival meta-skill for all of us — learning that each of us consciously guides every day, moment to moment, alone, in teams, with any resource, anywhere and anytime.

Consider: More than 50 percent of today’s jobs will probably disappear or change radically within 10 years. There are many reasons for this.

Beyond technology, companies like ours need more agility, innovation and self-management from everyone. We used to manage more by job descriptions, and you were best described as a box on the organization chart — probably with little expectation that you could experiment, take risks, and act with discretion and autonomy. But today and into the future, your skills and creative thinking matter more. Your “job” responsibilities shift as you move into and out of teams and as we call on you to support new strategies, customer groups and priorities.

From DSC:
I really appreciated reading this solid article from Patricia McLagan. She captured so many solid points. That said, I was bummed to see the following item included in this article (emphasis DSC):

Of course, our company is committed to supporting your learning and development, to providing formal training and access to learning opportunities for everyone. But even in the best of times, we will only be able to formally support a small part of what you will need and want. This is why I am sending this note to you: to tell you that we care about your learning and development, that we will do our best to support it, but that 95 percent of your learning is in your hands.

Of course, our company is committed to supporting your learning and development, to providing formal training and access to learning opportunities for everyone. But even in the best of times, we will only be able to formally support a small part of what you will need and want. This is why I am sending this note to you: to tell you that we care about your learning and development, that we will do our best to support it, but that 95 percent of your learning is in your hands.

Our company is committed to supporting your learning development — yeh…right…all 5% of it. 
Whoopie. The other 95% of it belongs to you and me. (Which reminds me that words are so easy to say but much harder to truly back up.) And you and I will likely do it on your/our own time. That seems to be more of the reality…the expectation…especially when job cuts are occurring all over the place and the job plates continue to expand for those who survived the cuts.

My experience over my career has been that corporations used to promote and truly support their employees’ professional development. They sent more people to courses and significantly helped many people obtain their MBA’s as well as other relevant master’s degrees and/or certifications/ and/or just to support some professional interests.

For example, I’m forever indebted to one of my formers bosses, Irvin Charles Coleman III. I worked for Irv at Kraft Foods’ HQ’s and he once let me go to a seminar on Photoshop. Though I used Photoshop in my work, it wasn’t in my formal description. That seminar changed many things for me. It supported my growth and learning and it fed my passion for designing and creating content.

I’m sure this kind of thing still occurs, but from what I can tell, it doesn’t happen at nearly the level that it used to. That said, I don’t blame the corporate world for getting bummed out at their employees that they had invested in — only to see those same employees grab the degrees and credentials and leave for greener pastures. Through the years, it seemed like the corporate world backed off from providing such a level of training/professional development.

These days, it seems like the corporations and the businesses out there have the hiring expectation that you will hit the ground running from day one. Learning and development are up to you and me. Nevermind that the way learning is supposed to go is that you:

  • introduce the learning objectives to someone
  • give them the information/content
  • provide the relevant and aligned learning activities that help them truly engage with the content
  • provide aligned formative and summative assessments along the way to ascertain whether they learned the material/concepts or not.

So I’m amazed that corporations are putting recent grads through their own tests on things that many of these students have never actually studied. (Yeh, I can hear the push backs now…and while I agree with some of them, it’s not fair to the students. They just followed what the colleges and universities offered for$100,000-$400,000+).

I could go on, but I need to go do my taxes. Gotta run. I hope to pick this line of thought up later.

 

As an alternative to a full master’s degree, edX and Coursera offer MicroMasters and MasterTrack certificate programs at a fraction of the cost of grad school — from businessinsider.com by Mara Leighton; with thanks to Ray Schroeder for sharing this resource

Excerpt:

  • edX and Coursera both offer cheap or free online graduate courses, many from top universities like MIT, Duke, and the University of Michigan.
  • edX MicroMasters and Coursera MasterTracks are bite-sized portions of master’s degree programs.
  • They can be used to build stand-alone skills to advance your career or as a stepping stone to a full master’s program.
  • We compared MicroMasters and MasterTracks for you here. Overall, the deciding factor will be the program itself. But generally, edX’s offerings are cheaper, have more options, and are more lenient than Coursera’s.
 

Artificial intelligence will go mainstream in 2021 — from manilatimes.net by Noemi Lardizabal-Dado; with thanks to Matthew Lamons for this resource

Excerpt:

In his December 21 Forbes website article, titled “Why Covid Will Make AI Go Mainstream In 2021,” data scientist Ganes Kesari predicts AI will transform 2021 by accelerating pharmaceutical drug discovery beyond Covid-19. He says the face of telecommuting would change, and that AI would transform edge computing and make devices around us truly intelligent.

Artificial Intelligence in 2021: Endless Opportunities and Growth — from analyticsinsight.net by Priya Dialani; with thanks to Matthew Lamons for this resource

Excerpts:

In 2021, the grittiest of organizations will push AI to new boondocks, for example, holographic meetings for telecommunication  and on-demand, personalised manufacturing. They will gamify vital planning, incorporate simulations in the meeting room and move into intelligent edge experiences.

According to Rohan Amin, the Chief Information Officer at Chase, “In 2021, we will see more refined uses of machine learning and artificial intelligence across industries, including financial services. There will be more noteworthy incorporation of AI/ML models and abilities into numerous business operations and processes to drive improved insights and better serve clients.”

From DSC:
I’m a bit more cautious when facing the growth of AI in our world, in our lives, in our society. I see some very positive applications (such as in healthcare and in education), but I’m also concerned about techs involved with facial recognition and other uses of AI that could easily become much more negative and harmful to us in the future.

 

Alternative Credentials, Scaled Degrees, and the New Higher Ed Matthew Effect — from insidehighered.com by Joshua Kim
The potential impact of elite-branded affordable online certificates and degrees on regionally-branded tuition-dependent colleges and universities.

Excerpt:

I pulled those quotes from the 8/10/20 IHE article At Home, Workers Seek Alternative Credentials. Given the crazy times, I’m not sure if that article is getting the attention across higher ed that it deserves. Everyone is entirely focused on the near-term challenges of academic continuity during the pandemic. And that is the right place to be focusing. You can’t plan for the long-term when the short-term is so unstable.

But today, I’m going to ask you to do just that. If you can, step back from thinking about COVID-19 and what is happening to your school in the fall, and give some thought to the medium-to-long-term impact of the rise of alternative credentials and scaled degrees to your institution.

First, let me ask you a question. How does your school balance its books? Where does the money come from?

 

Solid points made by Martin Giles, Senior Editor, CIO Network for Forbes…below is the majority of his CIO newsletter for this week

Now that more and more companies are extending their work-from-home timelines, the issue of how to monitor and manage the productivity of remote workers is becoming even more pressing. Some businesses are rolling out software applications to track things such as workers’ keystrokes or watch what they are doing when they are on the internet. IT teams are central to these efforts, even if they aren’t the ones who initiate them.

Providing the technology is deployed appropriately, the use of such tools may not be illegal. But does it make sense to deploy them? Forbes CIO Network contributor Irina Raicu makes the case against doing so in a thought-provoking post.

Raicu argues that deploying intrusive tech such as keyloggers sends a signal to workers that employers don’t respect their autonomy and dignity. It also penalizes effective workers, who are being made to pay a price in terms of lost privacy so that managers can identify poor performers. Deploying intrusive tracking technologies in homes that are now doubling as workplaces also contributes to the normalization of their use more broadly across society.

Under pressure from business heads and HR departments, tech leaders may be tempted to fold rather than fight the tools’ deployment. But there’s another reason tracking tech can backfire that should resonate with anyone worried about cyber threats—which means just about every CEO and board director in America and beyond.

The sensitive, personalized data monitoring tech gathers is a tempting target for hackers and a breach could trigger a legal nightmare. Given that the bad guys have stepped up their attacks to take advantage of the chaos the pandemic has sown, this threat is even more concerning.

Excerpt from Irina’s article:

However, indiscriminate deployment of tracking tools would create a surveillance work culture that is likely to cause significant harm, while at the same time failing to deliver the results that business leaders expect. 

From DSC:
I see this same type of stuff going on within K-12, higher ed, and even in law schools. Often, we establish cultures whereby students are treated with great suspicion. It’s us vs. them. The verbiage is around cheating and plagiarism and the use of tools like Turnitin, Respondus, Examity, and many others. Why isn’t the focus on being on the same team? i.e.,

  • “Don’t you realize Mr. or Ms. Student that I’m trying to help you become the best lawyer, judge, legislator, etc. as possible?”
  • “Don’t you realize that I’m trying to help teach you skills, knowledge, and ethics that will aid you in your future?”

Why is unity / being on the same team so difficult to achieve in human relationships? I don’t have the answers. It’s just very disappointing. 

It’s clear that we have some major disconnects in our motivations and views of other people. We should be working as members of the same team.

With the need for speed within most organizations today, TRUST is key. Reminds me of this book by Stephen M.R. Covey:

The Speed of Trust -- a book by Stephen M.R. Covey

Addendum on 8/14/20:

  • 6 ways leaders can rebuild trust in their organizations — from fastcompany.com by Cara Brennan Allamano
    A Udemy survey suggests that more than half of workers believe their employers are using COVID as an excuse to cut staff. These strategies can help dissolve their suspicions.
 

“Strategy is about folding the future back – it’s not about pushing the present forward!”

Vijay Govindarajan, keynote speaker
at today’s Law 2030 event;
also see the recording here

Law 2030

You can also find video of Day 1 here and Day 2 here.
The PowerPoint slides from each presenter are available at https://www.law2030.org.

From DSC:
The keynote at this morning’s Law 2030 event was done by Vijay Govindarajan, Coxe Distinguished Professor at Dartmouth College’s Tuck School of Business. Vijay offered up a great presentation that reminded me to:

  • THINK BIG!
  • Establish a sizable possibility gap!
  • Have unrealistic goals!
  • Don’t limit your future accomplishments with current expectations!
  • Strive to live to your potential!

His keynote made me think of this graphic from a while back:

We need to think big!

Below is one of the slides from his talk:

Also see the Law2030 hashtag over on Twitter.

 

Four storytelling techniques to bring your data to life — from sloanreview.mit.edu by Nancy Duarte

Excerpt:

Even though most corporate roles now work with data, it’s shockingly easy to forget that people generate most of it. When a user clicks a link, gets blood taken at the lab, or sets up a smartwatch, that person generates data. As people move, buy, sell, use, work, and live, their actions nudge numbers up or down and drive organizational decisions, big and small.

If it’s your role to communicate data insights and persuade people to change their behavior, you’ll have more influence and promote better decision-making if you emphasize the people behind the numbers. In a story, we root for the hero as he or she maneuvers through roadblocks. To use data to steer your organization in the right direction, you need to tap into the human tale your data can tell.

 

 

From DSC:
The items below are meant for those involved with digital transformation, developing strategy, and keeping one’s organization thriving into the future.


Strategy in the Digital Revolution with Ryan McManus — from dukece.com; with thanks to Laura Goodrich for this resource out on Twitter

Description of webinar:
Today, every business is focused on digital transformation, yet most organizations are struggling to realize value from their efforts and investments. Less than 20% of business leaders believe their digital transformation efforts have been successful. With unprecedented access to data and technology, how is it that firms and their leaders are experiencing such disappointing results?

At the root of the problem is the disconnect between how leaders understand strategy and the new rules of the digital revolution. Most leaders haven’t been taught how to think about a world that is very different from the one which gave rise to popular strategic concepts, and as a result, they apply outdated strategy models and thinking to the new world, trying to squeeze the competitive realities of the digital revolution into linear, analog strategic planning concepts.

In this complimentary on-demand webinar, Ryan McManus, lecturer at Columbia University Business School and Duke Corporate Education, discusses the New Strategy Playbook, including:

  • The current state and evolution of the digital revolution, and what’s next
  • The four levels of digital strategy: how you can adapt your approach to win
  • Why traditional approaches to strategy have reached their limits
  • Implications for leadership development

Example slides:

Also see:

http://dialoguereview.com/how-to-think-strategically-in-2020/

 

5 Reasons Why BU’s $24K MBA Is A Big Deal — from insidehighered.com by Joshua Kim
Why I’m intrigued.

Excerpt:

The newly announced $24K BU MBA, created in partnership with edX, is a big deal.

Here are 5 reasons why:
#1: The Evolving Connection Between Status and Price:

The Boston University Questrom School of Business is ranked in the top 50 global business schools by US News, in the top 70 by the Economist. Questrom is a brand name business school in a market where the value of the MBA is directly proportional to the status of the institution.

Today, status and price are tightly correlated in the postsecondary market. This is especially true in professional education. Student prices are not set at costs, but at perceived value.

BU should be given credit for challenging this status quo. I suspect that the Questrom $24K MBA will end up improving BU’s place in the global MBA rankings.

 

What is different now is that it will not only be enthusiasm for learning science that will drive schools (and MBA programs) to improve their programs. It will be the market. 

 
 
© 2021 | Daniel Christian