C-Suite Intelligence 22nd June 2020

Winmark's C-Suite Intelligence service provides news, content and research to help leaders across all C-Suite functions address the exceptional challenges they are facing.

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Meeting the new leadership challenges of the virtual world of work
MIT Sloan Management Review
This article shares numerous tips on how to improve the quality and impact of leadership while working virtually, including: 
  • Limit the size and duration of remote meetings, and ensure that they have a clear purpose.
  • Create virtual alternatives to big team meetings.
  • Be intentional with feedback.
  • Widen the circle of decision makers.
  • Accelerate professional development for people in the leadership pipeline. 

Align agile IT Delivery with finance funding
CIOs are increasingly turning to more flexible models to accelerate IT’s delivery of business outcomes and innovation. However, one significant obstacle can slow these efforts: the sourcing and distribution of funds. If left unaddressed, this issue could impair the CIO’s innovation agenda and undermine an organisation’s strategic goals.
In this article, UK leaders from Nationwide Building Society and Barclays share how their organisations are reconciling IT funding needs with finance procedures.   
More access to AI tools means more innovation, but the process must be carefully managed

Strategy + Business
Even the most sophisticated AI systems can fall victim to bias. An AI system that was built by someone without proper training or that is operated without appropriate controls could create serious errors. Worse, the problems might not become evident until after a system has been implemented, leaving companies scrambling to reassure stakeholders and undo the damage. There are five training and governance areas in which leaders need to take action. 
  1. Training. Training all users with the appropriate foundations of data science is critical.
  2. Data governance. Company leaders need to establish clarity on the ownership and control of data that is fed into AI-powered platforms.
  3. Model governance. Organisations often have data governance as part of corporate compliance activity, but few are monitoring the other elements involved in an AI system as closely as they should.
  4. IP rights. A number of companies have refused to use cloud platforms for image or audio processing out of fear that the cloud solution provider will use and benefit from the significant insights generated from their data.
  5. Open sourcing. All parties should make what they have contributed open source, to the extent that it does not infringe on privacy, confidentiality, and competitive dynamics. 
How to engage customers post COVID-19
Harvard Business School
COVID-19 has fundamentally shifted customer behaviour toward fulfilling more utilitarian-based demands for fundamental needs.
This article outlines a model that uses a simple matrix to help companies evaluate their competitive position and select from one of three proposed growth strategies.

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