The fourth industrial revolution (4IR) is here with the 5IR not far away. As an organisation, we need to gear up to remain relevant in an agile, fast paced competitive landscape.
To help us get there, we partnered with IBM in their Global Elite Academy, where employees from across the company are represented to understand how to stay at the forefront of the of the changing data and technology landscape.
Digitisation is a strategic priority for Standard Bank, building and understanding AI (artificial intelligence) capabilities is key to this journey.
In recognition of the need to upskill staff in these fields, we engaged IBM to assist in putting together a two-day academy that exposed our staff to global expertise with in-depth knowledge on the latest trends and learnings in data and AI.
Simphiwe Phakathi, Head: Customer Insights and Analytics PBB Africa Regions at Standard Bank Group, who is tasked with driving development and integration of data and AI systems across the group, says that leveraging AI is the only way we will continue to exist.
He explains that enterprise innovation is linked to technology and AI development. By leveraging these capabilities, it will benefit customers, guide improved decision-making and lead to better outcomes for the organisation.
Phakathi says that as leaders, we have a responsibility to ensure that our businesses grow and equally our continent. “The skills of the future will look significantly different to that of today, we must prepare for that eventuality.”
The elite academy was an opportunity for Standard Bank staff to network with counterparts globally and learn about what they’re doing in the world of data.
Standard Bank is further leveraging its partnership with IBM, allowing access to a learning and development platform accessible to all of the bank’s employees in South Africa. The platform offers a host of tutorials aimed at helping employees build skills for the future.
This journey is critical for us as an organisation. Data has become a key resource in the world and within the bank, everything is about information. When we say Africa is our home, let’s leverage all the data, tech and insights to really drive its growth.
In a field that is moving as fast as data analytics, it is important for practitioners across the group to understand what’s possible and how to preempt what could come next so that data can be structured appropriately for the new wave of competitiveness.