Show Notes: Dimitris Samouris discusses the development of a tool called Junior, an SaaS tool built on large language models and speech to text models. It leverages AI to help process primary research workstreams, particularly in the due diligence process, especially for primary interviews. How Junior Works - A SaaS Tool to Clean Transcripts Junior helps automate a significant portion of the administrative tasks associated with research execution, allowing users to focus more on the big picture answer rather than the execution side of things. The tool provides a highly accurate transcript of each call, including the name, segment, company, customer size, date and time of the interview, call status, and review status. The call tracker is a knowledge repository that displays the names, segments, job title, company, customer size, country, date and time of the interview, call status, and review status. The call screen is a customizable project management tool for running the call workstream. Junior has three parts: a call drawer, which has three parts: verbatim transcript, clean transcript, and audio file backup. The first step is to chunking the verbatim transcript into relevant question and answer pairs, then cleaning those pairs for colloquialisms and repetition interruptions. This process typically strips out about half of the text in the verbatim transcript, making it more digestible. The Benefits of Using Junior - Workflow Tools for Consultants Junior allows users to create a clean transcript of a call and then convert it into a call summary. The tool has two components: a stats box that extracts every numerical data point referenced in the call and stores it in one place for review after the call, and a set of key takeaways that are AI-generated summaries of the key points of the call. The tool leverages information from the beginning of a project, such as a scope document or interview guide, to help guide the summary. The tool also offers workflow tools specifically designed for the consulting industry to help get to the slide output faster. One of the main features is Ctrl. F. This feature helps users find relevant quotes and questions related to the topic, such as contract structure, pricing, implementation, and renewal processes. This feature is particularly useful for human consultants who may struggle to trace quotes due to sanitization or paraphrasing issues. An AI native spreadsheet table automates data input for questions that need to be tracked systematically across research or used in market models. It allows users to set up questions and track transcripts, with the source information attached for verification. The data is exportable into Excel for further analysis. Junior also has a chatbot that handles transcripts for consulting and investment research use cases. It produces structured answers with evidence attached to each argument, providing a comprehensive data access and customization tool.  Pricing and Signup for Junior The presentation also touches on the pricing and signup process for clients, including six of the top 10 consulting firms, boutiques, and private equity funds. The pricing is $100 per transcript, which typically gets billed back to the client as part of the research expenditure along with the extra networks used to source calls. Overall, the presentation emphasizes the importance of auditability and traceability when using Gen AI tools in procurement research. Junior saves time on analysis and synthesis for clients who are already paying for interviews on big alpha sites or GLG. The tool is priced at an extra 100 dollars per interview, but it can be refunded back to the client. The signup process involves reaching out to the company, who spin up a new instance for each user due to data security concerns. The platform can be set up within a day of reaching out.  Timestamps: 01:02 Using AI to automate due diligence process, including transcription and summarization of calls.  05:53 Using AI to summarize and analyze audio calls for consulting industry research 09:02 Ctrl F functions 12:57 AI-powered tool for analyzing audio interviews and providing structured insights 14:26: SWOT analysis capabilities Links: Email: Dimitris@myjunior.ai Website: https://www.myjunior.ai/   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

In this episode of Unleashed, Ran Harpaz, founder of Lettuce, discusses the importance of an automated tax and accounting system for businesses and that Lettuce is entirely focused on independent consultants. Independent consultants who make over $100,000 per year often overpay their taxes by $10,000 or more. Lettuce is a FinTech software company that helps these professionals incorporate their business into the right S corporation with the IRS, open a business bank account, run bookkeeping, run accounting, predict and file taxes, all done automatically through software. The company offers two levels: Pro (300 dollars a month) and Premium (700 dollars a month). The service includes accounting, bookkeeping, tax preparation, and tax preparation.  Tax Strategies for the Independent Consultants  Ran explains how many independent consultants are often double taxed as sole proprietors due to the IRS's coordination on annual tax returns. He offers an example to demonstrate how this works. Ran also discusses the concept of an S Corp and its implications for tax calculations.  He mentions that Lettuce exists as a software solution that does this daily on every dollar, as income fluctuates throughout the year. This automated solution monitors every payment, calculates and withholds the right amount automatically, and keeps the balance to the IRS constantly close to zero. The S Corp also offers more advanced tax strategies, such as retirement matching, qualified business income deductions, and better healthcare premium payments. Once an S Corp is established, it can unlock all the tax strategies typically available to corporations. The tax system and everything around it are well optimized for corporations, and larger organizations have a finance department, FEMA, and tax experts. While the savings on Social Security and Medicare may be capped, other benefits like retirement and healthcare premium payments open up once an S Corp is established. Using Retirement Plans as a Tax Strategy Ran discusses the advantages of using retirement plans as a tax strategy for individuals, particularly those with limited liability companies (LLCs). They mention that having an SEP IRA or a defined benefit plan can provide tax-free income, but it also comes with higher limits. The speaker emphasizes that this becomes a multivariable optimization problem, as individuals may want to save more through retirement, allocate more to Social Security, optimize for salary distribution, maximize expenses, and consider factors like business use of home and mileage. He suggests that these tax strategies should be solved by software products rather than human efforts. He explains that Lettuce is a replacement for QuickBooks accounting bookkeeping packages. Instead of having multiple software solutions, Lettuce provides a single solution that includes incorporating LLCs, making S corp elections, running books, opening a dedicated bank account, and managing payroll processing. How Lettuce Offers Tax Accounting Solutions  Ran also mentions that Lettuce can handle payroll for individuals who hire employees. They focus on serving businesses of one owner, as they are the essence of the business. The free business bank account is provided by TransPecos Bank, a Texas bank, FDIC insured, and provides the infrastructure for keeping money safe.The company is offering accounting and bookkeeping software that helps with automating quarterly taxes, which are a requirement for people. The software handles complex tasks such as forecasting, withholding the right amount, filing, and payment. It also handles complex transactions like multiple jurisdictions or income from Canada. The company has partnered with a CPA company to serve their specific market segment, offering additional services when needed. This includes offshore investments and rollovers from past investments. The company is also working on rolling out an AI accountant to answer customers' questions 24/7. They are training and fine-tuning the AI engine on specific tax code areas, providing answers as good as human but faster. The AI will be released in the next couple of months, and the company expects to receive positive feedback from users who want guidance and information without having to call a CPA. Timestamps: 03:45 Tax savings for independent consultants 09:39 Tax strategies for small business owners 17:44 Financial management and accounting software for independent professionals   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Salah Zalatimo, former Chief Digital Officer at Forbes, discusses the history of magazines and digital transformation. Magazines have been around for a while, with many well-known brands being founded around 100 years ago. Technological innovations have enabled new businesses to launch, such as the Direct to Consumer (DTC) boom and the cheaper printing costs around the turn of the last century. A Short History of the Magazine Industry Salah talks about the background of Forbes, which was launched around the Great Depression, and goes on to why the magazine industry was much like VC Investing  today, and how it changed with the advent of the internet. The tension between maintaining journalistic integrity and separation was a challenge. However, the internet revolutionized the way magazines operated, leading to many magazines going out of business in the past 20 years. Integration with the Digital Media Space Salah started his career in 2001, drawn to the digital media space after experiencing the first broadband connection and discovering Napster and music. When he arrived at Forbes, he found it to be one of the few companies that successfully adapted to these new business models. Forbes had more traffic and audience than any other magazine and competed with some of the largest information and news websites in the world. He joined Forbes in 2016 and discovered that their adaptation to the new business model was kind of outside their capabilities. Forbes adopted a new business model in 2016 when they acquired True Slant, a platform that allowed writers to write articles and receive a revenue share on the content. This aligned the incentives of all stakeholders in the content creation process, with writers and publishers trying to generate more revenue and being paid based on the success of the content. Forbes adapted this business model to their own newsroom, increasing their content production and SEO significantly. How Forbes Maintained Zero Liability The Google algorithm, which was maturing at the time, was a link-sharing system, making it difficult to lose a lead in SEO. Forbes was one of the first companies to dramatically increase their content production and SEO, leaving everyone behind. This led to a virtuous cycle where writers had their own social media accounts and audiences, which added to putting Forbes ahead of the curve in terms of adaptation. However, content production still operated as a newsroom, and digital transformation was needed to adapt the business model. Salah explains why tension arose between traditional journalists and freelance journalists and how Forbes maintained zero liability for user-generated content.. Problems Facing The Digital Media Business Model The digital media business model is facing a number of problems, including misaligned incentives and the need for a more efficient business model. Digital advertising is the primary way to monetize the media today, and traditional newsrooms focus on journalistic excellence and fact-checking. Salah explains how Forbes addressed this issue which incentivized writers to optimize their content for new distribution channels like Google and Facebook. This led to a dramatic change in the way Forbes worked and enabled them to grow. Challenges Managing Freelance Writers The newsroom faced challenges in managing freelance writers and managing quotas, which created stress. As a technologist, it was clear to Salah that many of these tasks could be simplified, automated, and made more consistent and flexible. To improve processes and outcomes, the company looked at the publishing platform as an opportunity. WordPress, the most widely used platform, is meant for smaller publications, and it couldn’t handle the volume of Forbes. By aligning incentives and improving processes, Forbes was able to grow and thrive in a time when other digital media companies were either losing money or going sideways. How Forbes’ Platform Was Improved To improve the platform, Forbes evaluated various third-party options and found that there were many components available in the market that could be customized and further developed for their platform. They considered AI and automation machine learning. To gather insights, Forbes hired data scientists to analyze content performance and identify patterns. They discovered that certain headline words had a 40% higher ranking in Google than comparable synonyms, and placing images after the first paragraph dramatically increased completion rates. They also developed a proprietary viral early warning system called views, which could predict with 95% accuracy whether an article would go viral within the first 15 minutes of publication. Publisher Challenges One of the biggest challenges faced by publishers is first-party data collection, which is crucial for their success. Forbes didn't have any connection between the different platforms and sharing, Salah explains how they overcame this issue and what the signifiers are of a post going viral. The impact of this was dramatic and clear, as Forbes could create bots that automatically posted content to social media platforms based on these patterns. This allowed Forbes to focus on the highest likelihood of success articles and increase throughput on social media accounts for specific topics. The New Publishing Platform, Birdie Salah discusses the development of a new publishing platform called Birdie, which introduced machine learning and AI tools to improve the quality and reach of writers' content. The platform was named after BC Forbes, the founder of Forbes. The AI elements in Birdie included a headline score, article length optimization, image placement, and content complexity. However, the first version of the platform was not well-received by the newsroom. To address this, the team tried to integrate the AI tools in a more fluid way, using a push button system where users could request suggestions for headlines. This allowed writers to feel more empowered and better at their jobs. Birdie's digital transformation was an efficient way to manage writers, build quotas and KPIs into the platform, and receive suggestions and reminders. This eliminated the need for manual intervention and improved the reach of pieces. Salah emphasizes the importance of maintaining the human element of the digital transformation process. He believes that it is not just about optimizing how something is written but also changing someone's livelihood and something they have been doing for a long time. Maintaining the human element and coming at it from an empathetic standpoint would have allowed for faster progress and saved stress. In conclusion, Salah Zalatimo advises companies tackling similar digital transformations to lean into the people they will be affecting early on, consider the words used and the choice of words, and consider the AI powered versus AI assisted versus AI enabled aspects.   Timestamps: 02:07 Digital transformation in the magazine industry 07:13 The history of magazines and their adaptation to technological changes 13:04 Forbes' successful adaptation to digital media 18:52 Forbes' digital transformation and content creation model 23:49 Digital transformation in a newsroom 29:23 Improving Forbes' publishing platform using AI and automation 34:36 AI-powered content creation and viral prediction at Forbes 40:09 Implementing AI tools in a newsroom with empathy for writers   Links: https://www.ooblek.xyz/ https://www.linkedin.com/in/zalatimo/   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this discussion, Will Bachman interviews Henry Oliver, author of the forthcoming book Second Act about late bloomers. Oliver has a background in English literature and marketing. He worked for an MP and later in employment marketing.  Defining a Late Bloomer Henry’s interest in late bloomers came from his work in employment marketing, and during his research, he found a wealth of talent in an older demographic. During the course of his research, he found that cognitive ability is the number one predictor of job performance regardless of age.  A late bloomer is someone who is no longer expected to achieve anything significant. However, Henry states that many people start a successful career late in life. Henry’s book is structured as a series of short biographical sketches that illustrate themes such as the right people, networks, influence, being at the right place, the right time, and meandering career paths that many high profile leaders, including Margaret Thatcher, are prime examples of the late bloomer.  The Focus on the Book His decision to focus more on the biographical sketch approach was influenced by his background as an A talent and employment brand consultant. He believes that the book should be focused on more than just the social science approach, as it allows him to explore the complexity of life.  The concept of inefficient preparation, as discussed by Henry, is a concept that has been gaining attention in recent years, especially with the emergence of AI. He talks about the meandering career path of Calvin Coolidge. He explains that many people are considering how to prepare for different careers. However, he emphasized that this approach is not necessarily always the best career strategy, as it can lead to inefficient outcomes. One example of this is Dwight Eisenhower, who was a young soldier during World War One and was kept in America to train on tanks. Despite the shrinking army and the lack of pay at the end of the war, Eisenhower continued to study military strategy and find mentors, which eventually paid off with the advent of World War Two. Henry mentions that many people have a meandering inefficiency in their careers, and if they can find a way to switch into a more challenging job, it can pay off well. This combination of a wait-and-see approach and serious planning can help individuals make the most of their time and achieve their career goals. How to Make Networking Work  Henry talks about the problem of focusing on building a network and why it’s important to find the person with the right influence for whatever it is you want to do right now. He shares an example of this with the story of Margaret Thatcher’s leadership election in the conservative party.  Henry discusses the importance of corporate culture in shaping one's career trajectory, and how the culture helps or hinders how you work. He cites studies of young men sent to the Second World War. The study found that a more ambitious, fast-paced environment with strong leadership and opportunities for development can lead to better performance. He also talks about the detrimental effects of a toxic environment. The discussion turns to putting yourself in the right place in today’s work environment. The most fundamental piece of research that Henry found is about hot streaks, where people produce their best work over a long period of time.The study found that people have an explorer phase, where they try out different ideas and move around the world. This is followed by the exploit period when they take action to take steps connected to their primary interest. In today's world, there are no universally-accepted answers to what constitutes an "exploit phase." It depends on the individual's career goals and the circumstances they are in. Steve Jobs, for example, was an example of someone who dropped out of various fields to pursue what eventually became Apple. The Importance of Exploration and Perseverance in Career The book emphasizes the importance of active exploration and perseverance over a sustained period. It emphasizes that people cannot simply move to a new location and hope for success. Instead, active exploration involves attending social events, meeting people, and participating in self-study programs. Second acts involve investing in self-improvement or relationships. Henry emphasizes the importance of live practice and building skills, which can be broad and involve socializing, learning, and networking. He suggests that the rule of 10,000 hours of deliberate exploration should be expanded to include practicing in new areas, including networking and meeting new people. He also believes that it is essential to be prepared to take opportunities. Henry talks about the importance of right timing and the concept of increasing your luck surface area. He gives the example of Ray Kroc who turned McDonald's into the biggest business in the world. At 53, he was a milkshake mixer salesman at McDonald's when he discovered a small family restaurant that had perfected the fast food kitchen. Henry explains how Ray Kroc increased his luck surface area to turn a family business into an international franchise.  Why Extraordinary People are Good Examples  While his book presents examples from extraordinary individuals, Henry believes that the lessons drawn from social science and famous figures can be applied to people of all levels. He stresses the importance of understanding the details of these individuals, such as Vera Wang's story, which highlights her personal struggles and the need for encouragement. Henry states that the internet is full of stories of late bloomers, but they often do not provide a detailed account of how they achieve their success. While his book does offer examples of ordinary people who have achieved their second act career, he believes that digging into larger examples can provide a deeper understanding of how late bloomers work and how they achieve their goals. Henry has been focusing on the social science side of human interaction over the past decade. He has been researching and writing about network science, sociology, economics, and psychology to understand how someone can transition from a hack journalist to the creator of the dictionary. He was surprised by the importance of networks and how being in the right group of people can make a huge difference.  A Word or Two on Writing Motivation Henry talks about the inspiration and researching information for his book. His motivation for writing is to provide a platform where people can read great works and benefit from them. He believes that reading literature not only helps in understanding human interaction but also helps in understanding power dynamics and ambition. For example, he believes that Jane Austen's novels, like Emma, can be useful for understanding human interaction in modern office life. Henry's substack Common Reader, which includes literature, brings in other topics to help readers better understand human interaction and decision-making. He believes that reading Shakespeare can be useful for questions of power, ambition, and leadership. Henry discusses the importance of having a sub-stack for writing and how it can generate more ideas as you read. Timestamps: 04:04 Career development and the concept of late bloomers 10:59 Building meaningful networks and finding influential connections 16:44 The importance of influence and being in the right environment for success 22:55 Career development and finding one's passion 28:10 The importance of deliberate exploration for personal growth and development 32:16 Luck, opportunity, and success 37:44 Late bloomers and their inspiring stories 44:58 Literature and its relevance to modern life 48:45 Late bloomers, talent, and career development Links: The Book Second Act: What Late Bloomers Can Tell You About Success and Reinventing Your Life Twitter https://twitter.com/HenryEOliver LinkedIn https://www.linkedin.com/in/henry-oliver-5165b189/ Substack https://www.commonreader.co.uk/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes Craig Callé talks about third party risk management (TPRM), with an emphasis on cybersecurity. TPRM is a subset of Governance Risk and Compliance (GRC), which aims to help organizations achieve their objectives, address uncertainties, and act with integrity. TPRM is crucial as over half of all data breaches occur through insecure third parties. Companies need to understand their third party relationships and monitor them more carefully, which requires a variety of tools and processes. Craig explains that TPRM can cover a variety of risks, including cybersecurity, but also financial viability, compliance with privacy, sanctions and other regulations, reputation management, supply chain issues, and alignment of ESG and sustainability objectives.   Defining GRC and Third Parties Craig explains that GRC is a broad category that includes TPRM, but also enterprise risk management (ERM), business continuity or operational resilience, policy management, controls compliance, privacy and ESG. ERM typically includes a risk register, which compiles all the potential threats that can affect a company, and it is crucial to building a more predictable and measurable system to achieve its objectives at the lowest possible risk. He mentions that the term “third parties” should include not just vendors and suppliers, but also often overlooked entities such as outsourced service providers, software as a service (SaaS) apps, cloud hosts, contractors, ecosystem partners, technology partners, and financial counterparties. GRC Frameworks He mentions that a lot of the governance aspect of GRC work involves picking a suitable framework and building a program around it. For example, in cybersecurity, a popular standards body would be NIST, and he mentions a few others that give leaders a roadmap apropos to achieving high standards of operation. Organizational Relationships The head of GRC is responsible for ensuring that the organization operates within its control frameworks. For example, in a Fortune 500 company, the executive responsible for GRC might report to a Chief Risk Officer, if there is one, with a dotted line to the board audit and risk committee. Since many TPRM programs have an exclusive focus of cybersecurity risk, the head of TPRM often reports to the Chief Information Security Officer (CISO). Third Party Risk Management Responsibilities The head of third party risk management is responsible for several processes, such as onboarding new third parties, periodic audits, ongoing real-time monitoring, reporting functions, and investigating and dealing with incidents and responses. However, the responsibilities depend on the organization’s level of maturity and the complexity of the process. Craig offers a few examples to clarify the complexities that have to be taken into consideration, including the fact that risk management processes can be seen as blockers, and additionally, offers a tip on how to overcome this issue.   Software for Third Party Risk Management Craig talks about the importance of selecting the right software for clients, highlighting the pros and cons of a best of breed approach versus a multi-module suite. Craig mentions examples of TPRM workflow automation platforms, including ProcessUnity, MetricStream, ServiceNow, LogicGate, BitSight, and many others. These platforms facilitate questionnaires and other assessments issuance, response review, routing of issues to specific people or groups within an organization, risk scoring and reporting to stakeholders. Cyber risk ratings, which have been around for over 10 years, are now a natural complement to workflow platforms. Ratings provide objective data that help triage the community of third parties by quantifying vulnerability to data breaches. They provide easy-to-digest results that don’t require an IT certification to understand, based on FICO-like scores or letter grades. He explains that companies may want to share data across modules, although some organizations can be siloed and don’t realize opportunities to collaborate. For example, if a company has both privacy management and TPRM software, there is a natural logic to connect the data map required by privacy regulations to the third parties that might hold customer data. He also emphasizes the need for an advisor to understand the customers’ problems and inherited solutions, as well as the timeframe and budget constraints. Ripping and replacing existing solutions is rarely feasible and desirable. AI has become an important tool for parsing through voluminous data to identify critical facts, although human involvement remains an essential element in the process. Predicting Improvements in TPRM Craig believes that over the next decade, the focus of third party risk management will involve high-level orchestration across CISOs, risk officers, and procurement people, perhaps led by what he calls a Chief Third Party Officer, or CTPO, leading to a more comprehensive view of not just risk, but also third party performance. He thinks third parties deserve the same level of scrutiny that a Chief HR Officer would apply to employees and job candidates. Timestamps: 05:15 Third-party risk management and GRC 11:57 GRC roles and responsibilities in a Fortune 500 company 16:10 Third-party risk management processes and responsibilities 21:59 Third-party risk management software and techniques 27:26 Third-party risk management and platform automation 32:21 GRC and third-party risk management   Links: Company Website: https://sourcecalle.com/ LinkedIn: https://www.linkedin.com/in/craigcalle/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this conversation with Will Bachman, Ivan Oransky, a co-founder of Retraction Watch, shares his experience as a medical journalist and with Retraction Watch. Ivan explains that his friend and co-founder, Adam Marcus had uncovered a massive story about scientific fraud in Western Massachusetts, where an anesthesiologist had made up all clinical data. Adam, who was managing editor of an publication called Anesthesiology News got the scoop on the story, and Ivan, who was impressed with the story, suggested they start a blog about retraction notices, it turned out there were far more happening than previously thought.  13 and a half years later, Retraction Watch is still going strong and has a large audience. Adam and Ivan are volunteers but have four staff two of whom run a database of retractions that was recently acquired by CrossRef, a nonprofit that tracks scientific data and papers. The other two staff continue to contribute to the journalism work they started 13 and a half years ago, while Ivan and Adam still supervisor edit and direct it. How to Evaluate an Article Ivan shares his advice on how to evaluate an article in a medical journal or any published article. He emphasizes the importance of showing one's work and examining the evidence used to reach a conclusion. He explains that, when looking at articles, it is crucial to consider the original sources, citations, and the journal's track record of quality. He also emphasizes the importance of humility in making claims and not making pronouncements about things he or she doesn't know anything about. He also warns against trusting credentials to suggest expertise, as it can be misleading, Ivan shares the example of a time when he was asked to peer review papers about COVID-19, simply because he had co-authored a letter about retractions of work. However, he is not an expert on the subject. Ivan believes that an expert should only be asked to peer review papers that they believe are likely to hold up or should not be published.  Leading Causes of Retraction Ivan explains that factors that commonly lead to a retraction. Two-thirds of retractions are for misconduct. This number is consistent across various works and he goes on to explain that there are several definitions of misconduct to take into consideration, including fabrication, falsification, and plagiarism. About 20 percent of the time, it’s due to a what’s known as honest error, and Ivan offers a few examples.  The deeper cause is the requirement that researchers must publish in certain places to get a job in academia, tenure, promotion, and prizes. This drives people to do all sorts of things, and while this drives most people to work harder and try to work more efficiently, others may take a different approach. In fact, Ivan states that 2 percent of researchers admit to committing misconduct.  The Replication Crisis Ivan talks about the replication crisis, which has been a topic of interest in the social sciences and hard sciences. When Retraction Watch was first launched, there were about 400 retractions from journals a year. Last year, there were more than 10,000, a big increase despite the rising number of papers published. The root cause of this issue is the same problem: replications are not new research or findings and should be cherished and prized, but they are not. Big journals don't like to publish replications, so they don't reward new research. To get into a big journal, researchers need to publish new research, which is simple behavioral incentive economics. The discussion turns to incentives for people to write about scientific misconduct and fraud. Ivan states that, while there is more incentive not to write retractions, he cites a page on Retraction Watch that has dozens of stories from people committed to revealing issues with research, including well-known figures. These individuals face legal risks, such as lawsuits, and are usually not paid for this work.  The conversation also touches on the potential negative repercussions of challenging senior professionals in their field, such as professors or presidents of universities. However, most of these individuals do not work in science anymore, or their career trajectory is not dependent on pleasing or failing to displease senior members of academia. These individuals often publish on sites like PubPeer, which allows users to leave comments on published studies. This helps expose the issues and claims in the media, helping to raise awareness and support for those who need help. Retraction Watch offers resources and social media platforms for those interested in learning more about the topic. They welcome feedback and story tips, and they are open to sharing more information about their work. Timestamps: 01:03 Scientific fraud and retractions  04:41 Evaluating credibility in scientific articles and peer review 09:10 Research retractions and the root causes 13:05 Replication crisis in science and the challenges faced by those uncovering fraud 17:18 Academic misconduct and whistleblowers Links: Website: https://retractionwatch.com/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Melanie Espeland, a TEDx speaker and executive coach with 17 years of experience in strategy, operations, and coaching, she’s former McKinsey, and in this episode, she discusses the importance of executive presence and how to achieve it. Communication in Executive Presence In this workshop, Melanie explains that executive presence is important because it provides access to insider discussions, meetings, events, and happy hours. Access is crucial for success, and influence is essential for those with a purpose or vision. Executive presence allows for a balance and integration of power, authority, respect, trust, warmth, and likability. Melanie also discusses the concept of compassionate authority, which she sees as a combination of power, authority, respect, trust, warmth, and comfort with the people you are speaking with. This external communication and ability to share thoughts and feelings are key to achieving executive presence. By understanding the value of executive presence and its impact on success, individuals can better navigate their roles and achieve their goals. Melanie explains that executive presence is a complex concept that varies across different personalities and people. There is no one-size-fits-all formula for expressing presence, as there are different ways of expressing it. Steve Jobs and Michelle Obama are examples of individuals with different styles, each with their own unique qualities. However, there are common threads or levers in executive presence that can help individuals build their personal and professional style that aligns with their strengths and personality. Building Executive Presence A structured approach to building executive presence consists of two pillars: the literal (physical, tangible) and the figurative (mental, emotional). Under each pillar, there are three common threads or levers: voice, body, and appearance. Voice refers to the speaker's voice, verbal communication, body language, posture, and physical presence. Body language, posture, and physical presence are also crucial. Application is the first impression, and it is important to consider how our appearance may impact our professional image and relationships. By understanding these common threads and levers, individuals can develop a unique and authentic executive presence style that aligns with their strengths and personality. The figurative pillar of executive presence is relevant for mid to senior level professionals as they move up the ladder. Authenticity, confidence, and vision are important for connecting with others and understanding one's strengths, weaknesses, wants, intentions, and motivations. Authenticity is crucial for connecting with others and making them feel comfortable. Confidence is different, as it involves feeling confident in oneself and being clear on one's goals. Vision is crucial for building an executive presence, especially as you get more senior. Effective Communication for a Large Audience To communicate effectively in large audiences, it is essential to understand media skills, such as how to talk to the media and communicate ideas consistently and coherently. As you become more senior, you will be thrown into meetings and need to control what people leave with. These six common threads or levers of executive presence can be divided into two pillars. By measuring up in these areas, you can identify areas where you have more opportunity. Exercises can be done together to practice these skills at home, starting with voice and body exercises. By focusing on these areas, you can develop new skills and improve your executive presence. How to Improve Verbal Communication  Melanie discusses the importance of voice and body verbal and nonverbal communication in executive presence. One technique that often surprises people is tongue placement exercises. She believes that the body is an instrument that needs to be controlled, rather than controlled by it. They encourage participants to try these exercises at home and see if they stick better after practicing with them. Tongue placement exercises help improve diction, projection, and warmth in speech. For example, in American English, the tongue tends to be in the middle, which can lead to a more accurate and clear voice. This is particularly beneficial for those who may be uncomfortable with their accent or question their pronunciation. Projection is the distance sound travels from the mouth, which is different from volume. This helps give the voice gravitas and resonance, giving it authority and warmth. Melanie provides various exercises that can improve diction. In conclusion, voice and body exercises are essential for improving verbal and nonverbal communication. By practicing tongue placement exercises, individuals can gain a deeper understanding of their voice and body, ultimately leading to improved communication and overall performance. Breathwork for Executive Presence Breathing is crucial for a great voice and overall executive presence. Proper breathing is essential for delivering sound effectively and enhancing one's overall appearance. To achieve this, it is essential to focus on two aspects: maintaining proper breathing and mouth position during speaking. Filler words, which can be annoying or insincere, can be a common issue. To avoid these, it is essential to have more air coming in and out of the body, allowing for more air to be absorbed and not gasping for air. Melanie explains breathing exercises that help individuals can develop a better understanding of their breathing and voice, ultimately improving their overall communication and overall presence. She emphasizes the importance of proper breathing in order to maintain powerful, engaged, and present speech. T The speaker encourages practicing this exercise at home, aiming to breathe in through the nose on 123 counts. If the exhale is short or uncomfortable, it may indicate that the speaker needs to work on their breathing technique. This can be likened to going to the gym to train your body.. Understanding the Confidence Flywheel To gain more confidence, it is essential to have a sense of ease within oneself. People who have presence tend to appear grounded and confident, having clarity and ease about their actions. To achieve this, one can trick their physicality into ease, which affects their mental and emotional state. Techniques like breathing techniques can help reduce cortisol, heartbeat, and adrenaline, making the body think they are at ease. This change in mental and emotional state leads to increased confidence. The confidence flywheel can be used to showcase confidence, which in turn uplifts the confidence of the audience. The more confidence the audience has in you, the more confident your audience will be in you. However, the flywheel can also go in the opposite direction, making you appear nervous or unsure, which can lead to subconscious feedback and doubt. Tricking the Body into Confidence Melanie discusses the concept of tricking your body into confidence and using code words to trick your brain into bringing up past feelings or emotions in the present tense. This exercise involves thinking about a specific experience where you felt grounded or at ease, and thinking about your life as if it were a movie with a screenshot of that moment. The exercise involves walking through all five senses, including sight, smell, taste, hearing, and touch. Write down this information and create a code word cheat sheet for future reference. Once the memory is created, name it or give it a name, such as "Thailand." When applying the exercise in real time, remember the code word and the feeling of being at ease. The more specific the code word, the more powerful it will be. It's important to have nuanced language in your speech to avoid overtaking the activity or presentation. Try using different code words or memories for the same feelings, and record yourself on Zoom or with a partner or friend to see how it works. An additional tool for using code words leading into confidence is using physical objects that remind you of the code word. For example, a cool stone on the beach can be placed on your desk, in your hand, or in your pocket before a big presentation. Pictures can also be helpful in remembering a day. Pacing for Public Speaking Melanie discusses the importance of pacing in speaking, particularly when someone is nervous. This can be achieved by having water next to you, as it is an elegant way to pause and recalibrate yourself. Breathing exercises can help slow down speech speed, as people often use filler words or keep talking quickly. Breathing exercises can also help slow down speech by taking deep breaths while taking a sip of water. To slow down, she encourages reading slowly and even more slowly than usual. This allows the body and mind to connect and understand that they can speak more slowly. Recording yourself reading at different speeds and practicing at different times can help determine the best pacing for your speech. Lastly, Melanie suggests verbally numbering points to help your audience follow along. For example, if you have three points to make, you can use data to make it easier for your audience to understand what you're trying to say. This helps give your audience a structure to follow along. Melanie moves on to share certain techniques to communicate  well with others, including how to politely interrupt, how to indicate engagement, dealing with verbal fillers, and how to encourage conversation. This is followed by a Q&A session.  Timestamps: 01:23 Executive presence and communication skills 04:43 Executive presence and its components 10:24 Building executive presence through voice and body exercises 16:16 Improving English pronunciation with tongue placement 18:41 Tongue placement for clear speech 24:39 Proper breathing techniques for clear communication 30:06 Proper breathing techniques for clear communication 35:03 Voice and body exercises for executive presence and confidence 37:43 Using ease and code words to boost confidence 43:07 Using code words to enhance memory and relaxation 47:09 Using physical objects for memory recall 49:43 Speeding up speech and managing pace Links: Website: https://www.melaniesespeland.com/ Website: https://espelandenterprises.com/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this episode of Unleashed, Alex Brueckmann discusses the concept of strategy and its importance in business. Alex states that strategy is defined as a set of integrated choices made to win in a chosen marketplace. It is not just about playing the game, but about creating value that convinces or influences customers to buy from the company. A good strategy should be cohesive and integrated, making sense together, and Alex explains what defines a good strategy.  Defining Key Factors in a  Strategy When discussing a strategy, it is important to understand what the company does, for whom, what they offer, and who their customer is. This information can help businesses define their niche, mission, and goals. The next piece of information should be a clear description of what the business will look like in the next few years. The end state of the business and the strategy cycle should be defined, with what will be achieved by implementing the strategy and what actions will be taken. By knowing what you do, for whom, what you work toward, and the few choices that make 80% of the impact, businesses can focus their resources on the most important aspects of their strategy. Helping Companies Develop a Strategy Alex talks about the process of helping companies develop their strategy. He begins by helping clients understand their playing field, recent past changes and challenges, and aligning them with what the reality looks like. He discusses future changes and challenges, dissecting them into opportunities and defining target markets and clients. Alex helps clients understand what they need to do to make clients choose them over competitors in various industries. He also introduces the framework of the nine elements of organizational identity, which is an integrated approach to understanding every aspect of an entity. This includes customer experience, who the company is as a company, and the impact they want to have by providing a service to the world. The Nine Elements of Organizational Identity Alex talks about the frameworks he uses to help clients develop a strategy, including the nine elements of organizational identity and how he has defined key factors into the inner circle, the middle circle, and the outer circle. The Inner Circle Business Strategy He talks about the inner circle of a business and what it  involves, including impact, mission, and principles. Impact is the change you want to create, based on your purpose and reason to exist as an organization. Mission is what an organization aims to do, and principles are the underlying values and behavioral guidelines.He explains how each element works and what the difference between impact and mission is. Iimpact is the change you want to create, while mission is what an organization aims to do. For example, a vehicle company's mission is to produce vehicles and sell them to a specific target group. However, the impact they create is deeper than their business definition. For example, producing affordable vehicles can be a game changer for families in third world countries, and having your own vehicle can also be a game changer depending on the security situation. The Middle Circle Business Strategy The middle circle is your business strategy, which includes a vision, choices made, and measurable goals. SMART goals are specific, measurable, and timed, but they lack specificity and, instead, hope that passion will carry them forward. To create a cohesive business strategy, it is essential to have a clear vision, intermediate goals, and visual representations, such as a strategy map. This helps ensure that the story you are telling with your strategy is cohesive and effective. The Outer Circle Business Strategy Alex discusses the outer circle, which includes management system capabilities and targets. This outer circle is likened to a scaffolding that prevents a business from breaking down again. However, without enabling everyone in the business to lead effectively and help individual contributors understand that their job matters, and help them achieve their individual targets. It also helps ensure alignment with company values.He mentions that targets should be both cultural and strategic.  The third element in the outer circle is management systems, which help adjust organizational structure and processes to support change. These systems are designed to help the company stay stable and develop, but they are not designed for change. Therefore, building new systems and then removing the old ones is crucial to create strategies that support strategy, implementation, and culture. Preparing the Foundation of Strategy Development Alex emphasizes the importance of understanding the playing field and reality, as well as the diamond values that define who a business is. Diamond values are hard to alter, even under pressure, and are hard to lose clients if they don't align with the company's values. He mentions that the distinction between irrational and emotional culture is important, as it helps companies understand the difference between doing the right thing and talking about business and the words used to describe your playing field, and the emotional culture of the people within the business, and creating an environment that fosters a human-centric performance culture, where people show up at their best every day. This goes beyond just revenue generation and problem-solving, but also encourages employees to be the best version of themselves, knowing that working in a business that prioritizes them as human beings is a privilege. The Role of a Strategy Facilitator Alex discusses the role of a strategy facilitator in executive coaching and how to help customers create business strategies. He shares eight steps that can be used as starting points for executive teams, including executive interviews, foundation sessions, and strategy workshops. The foundation session helps answer foundational questions and aligns everyone's readiness to start a strategy process.  He talks about the importance of transitioning from understanding reality and understanding oneself and values to moving towards the future. Facilitators must create an environment where honest and vulnerable conversations about strategy are allowed, allowing people to bring their ideas forward. Alex emphasizes the importance of helping people become stewards of the entire business, not just the marketing lead or sales lead. They should step away from their day-to-day jobs and become stewards of the entire business. Alex mentions a certification program for facilitation he is developing that targets both external resources like executive coaches and workshop facilitators, as well as internal resources like strategy managers and PMO managers who often find themselves in situations with executives where they facilitate and push forward the process. Alex's book, "The Strategy Facilitator," was inspired by a conversation with Marshall Goldsmith, who had previously worked with Alex's marketing agency. Goldsmith offered to endorse his book, which Brueckmann describes as a kind gesture. Timestamps: 01:02 Business strategy and its components 05:30 Strategy development and identity for businesses 10:46 Organizational identity and strategy 17:58 Implementing a comprehensive strategy for a business 22:38 Strategy facilitation and emotional culture in business 26:32 Strategy facilitation and certification program Links: Website: https://brueckmann.ca/ Book: The Strategy Legacy Book: Secrets of Next-Level Entrepreneurs: 11 Powerful Lessons to Thrive in Business and Lead a Balanced Life   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Karen Friedenberg discusses a project she worked on to design an Intelligent Automation Center of Excellence for a Fortune 500 medical supply company. The challenge was that the organization was initially looking to leverage robotics process automation (RPA) technology to automate repetitive and manual processes. This led to the development of Intelligent Automation, also known as hyper automation. Defining the Meaning of Intelligent Automation The first step in this project was defining Intelligent Automation and defining its meaning. The client wanted to develop a center of excellence to coordinate efforts across the company to take advantage of new technology and benefits quickly and in a coordinated way. The center of excellence would serve various needs and be a resource for the organization. Karen explains that the first step was to identify the pockets within the organization where people were learning about robotics, process automation, AI, and chatbots. She then interviewed stakeholders to understand their strategic imperatives and goals, and a key understanding was to let business lead the way, not the technology. The second step focused on developing the structure of the Intelligent Automation Center of Excellence (COE), its interaction with other teams, and the roles and competencies of the COE team. The COE team would be responsible for staying on top of the evolving technologies and coordinating efforts to leverage project management and program management capabilities in a coordinated way. One of the great things about new technology is putting it in the hands of the business and users, allowing them to solve problems themselves. However, there were challenges, opportunities, and fear to address,  such as change management and fear of the business starting to do this. For example, IT was beginning to fear redundancy in many of their roles.  As a solution to these challenges, it was necessary for the COE team to identify their mission, roles, and responsibilities. The Center of Excellence Explained The Center of Excellence (COE) is a team that works to identify and prioritize automation candidates in business units. Karen talks about the knockout criteria they use to assess if a process is an automation candidate and if it can be done within existing systems. The COE then uses a box prioritization matrix to assess the impact and effort of each candidate. If it is easier and less risky, it may be a candidate for a citizen developer role. Governance is also a key aspect of the COE's role. The COE's role involves oversight and sharing best practices. They train and certify citizen developers to use new technology and processes, ensuring proper controls are in place. The SDLC (Software Development Lifecycle) is a model that aims to maintain flexibility and speed while ensuring proper controls. People submit requests through various methods, such as email, phone, or using shared systems like Leisha shared through SharePoint and Microsoft tools. The COE's role is to ensure that the process is secure and efficient, while also ensuring that the right controls are in place to prevent unauthorized changes to code. Discussion on the Design Phase of a Project Karen explains that they are still in the design phase and it has not been fully executed yet. The vision was to analyze incoming requests and determine who gets help. The team is divided into a business lead and an IT lead who would work with business analysts to assess the project's feasibility. The group provide different levels of support, such as a half-hour conversation or a three-month project with a business analyst and consultants.The first step is to train the business unit citizen developer and to provide regular reviews to the client. The team would also provide additional technical, business process, and change management assistance. The goal is to help the client team navigate their blockers and be a centralized source for sharing learnings and best practices across the business. Integration with The Center of Excellence The COE is complex and interacts with multiple systems, including  project management teams and various departments across the business. The team would also be aware of other projects in the company and work with them to ensure each project is documented and shared within the ecosystem to share information across departments and projects as required. Karen discusses the development of an Intelligent Automation center of excellence and the marketing approach taken to promote the service.  The center consists of five people and is being promoted internally through business optimization managers. The company is taking a crawl, walk, run approach, starting small and growing. She explains that some barriers to the center include resourcing, funding, and fear of AI impacting employees' jobs. Organizational change management is crucial in these efforts, as it ensures sustainability and avoids unintended consequences for employees. The Benefits of a COE The company anticipates benefits from the center of excellence, such as faster deployment of technologies, reduced manual tasks, and cohesion of information. The technology has tremendous benefits, but the bigger benefit is the new ways of working that can be applied across various parts of the business. The center of excellence also helps in teaching new ways of working and chain collaboration between the business and IT. Timestamps: 01:02 Designing Intelligent Automation Center of Excellence for a Fortune 500 company 02:22 Establishing an Intelligent Automation Center of Excellence 06:40 Automation and citizen development in a business unit 10:49 Implementing a citizen developer program 14:32 Implementing an Intelligent Automation center of excellence Links Website: https://www.piconsult.net/ LinkedIn: https://www.linkedin.com/in/karen-friedenberg/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this episode of Unleashed, the panel discussion focuses on the pros and cons of becoming an adjunct professor. The panelists discuss the motivations behind teaching courses as an adjunct professor, how to get hired, whether to teach in traditional MBA programs or other certificate or degree programs, the amount of work involved, typical pay, relationship building opportunities, project opportunities, and ancillary benefits such as access to datasets or research services. The discussion kicks off with Adam Braff, a data analytics executive/advisor, shares his reasons for teaching, stating that the best reasons to teach are not practical instrumental reasons but more passion and love for teaching and believes it is a creative act. Mary Kate Scott follows Adam. She teaches at the University of Southern California, Marshall School of Business in the MBA program, and Keck School of Medicine, focusing on healthcare. She has taught the business of healthcare, innovation and health care, new business models in health care, entrepreneurship and health care, and medical device business models. Mary Kate also shares her background with Procter and Gamble and later joined McKinsey for two years to become a better professor. She found she loved the position and stayed there for seven years, but she states that she found the joy of teaching to be both inspirational and fun. She enjoys the level of engagement and interaction in her classes. Sven Beiker teaches Strategy Making in an MBA program at Stanford Business School, and also at a university in Sweden about AI and product development.  He discusses his experience teaching at Stanford and their passion for teaching. He began his teaching career at Stanford which led from a position as an automotive program manager. He also enjoys working with younger people, finding it intellectually stimulating. He has also found the position to be an asset in branding, and has found that it helps in terms of being considered as a keynote speaker from Stanford Business School.    Mohannad Gomaa shares his experience teaching at US Navy PostGraduate School, which was motivated by a contract with a colleague and his subject matter expertise. He designed and delivered the curriculum. He has also taught in consulting colleges, and recently, he was authorized by the Association of Supply Chain Management to teach supply chain certifications, including the CSCP certified supply chain professional certification. This allows him to associate with a reputable knowledge body and meet with stakeholders interested in his work. He has also signed an agreement to be a consulting partner for the ACM, which will allow him to explore more opportunities across industries. He believes teaching is a passion that can generate revenue beyond the passion. An adjunct professor at the University of Copenhagen shares her passion for teaching consulting and adds to her reputation for expertise in her field, but she finds teaching fun and energizing.    How to Secure a Position as an Adjunct Professor The conversation also touches on how to get started as an adjunct professor. To do this, one should be flexible about the institution they want to teach in and focus on the dimensions that are necessary to their field. Many schools have executive MBA programs and masters of leadership programs and other programs  that are growing and need teachers who can teach their specific subject matter area and create and pitch syllabuses. To reach out to the right people in these institutions, one should reach out to the Academic Director of different degree programs. This person will be responsible for the substantive side of these programs and can help with informational interviews. For example, if one wants to teach in New York City, one could reach out to HR or the dean of the school. Mary Kate discusses the benefits of adjunct teaching, including the joy of publications, networking, and credibility. She suggests starting as a guest speaker and gradually delivering classes, either shorter or elective, and eventually creating the curriculum. She also encourages reaching out to people teaching similar courses to your field to get started. She also mentions simply letting people know you are interested in teaching.  Sven mentions that many full-time professors don't like to teach, but they are constantly looking for someone to bring real-world experience into the classroom, to interact with a class, and bring their knowledge to the table. He states that, there are continuing education programs at universities, such as Stanford, that offer continuing education programs on both the professional side of education. These programs can help students gain experience and develop their interest in graduate programs and could be a first step into teaching. Networking is a key aspect of adjunct teaching, and can lead to a board position.  The Evaluation Process Revealed The panelists discussed the typical evaluation process for teaching positions, including the need for specific credentials or certificates, and how to express interest. Having someone internally who can vouch for you can make a difference. The first step in the evaluation process is to have a track record, such as a recording of a lecture, a written syllabus, and student evaluations. This ensures that when applying to another institution, they feel confident in their ability to teach a class.  Compensation for Teaching The compensation for teaching varies between $6,000 for a semester to 15,000, with a median of $10. The time commitment for creating a syllabus from scratch is around 200 hours. There may be additional benefits associated with teaching, such as subsidized healthcare benefits. The panelists discuss the range of compensation, which can range from $1,000 for a 90-minute class to $2,000 for a two-hour class and could for a 7, 12, or 14 week program.  The first time teaching, the teacher takes over the curriculum and develops it, however, they could be writing the entire curriculum, which can be a lot of responsibility but also an opportunity to shape the educational experience for students. It is worth noting that the course can also impact your consulting business, as committing to a class every week can limit your consulting business if you travel frequently. In contrast, in-person classes can be more effective due to scheduling. Another panelist, who is a Professor of Practice at Michigan State University's School of Business, states that the course is a salaried position, but it is not a full-time gig. The pay is based on a W-2 and a salary, which is a relatively small amount. The Benefits of Teaching The conversation revolves around the benefits of teaching and consulting, including inspiration, credibility, and carryover spillover benefits. Mary Kay shares her experience with getting clients and consulting project leads and converting leads into confirmed projects due to her credibility. Her students have become clients, and she concludes that the network is an enormous benefit.  Adam suggests that teaching should be synergistic with consulting work, and that it is synergistic to his writing work and that he has adapted the courses he teaches to corporate training. However, in this situation, it is advised to focus on the language of contracts to ensure that intellectual property rights are portable to a corporate context. Sven shares his experience with gaining project leads, which can be former students who become clients or organizations seeking advice from a professor who is also a consultant, and he has often been asked to be on the advisory board of startups by former students. This nurtures the network and gives the professor more standing and credibility. Clients often recognise the professor's expertise and reputation, making it a valuable asset. Best Practices for Networking Opportunities To maximize networking opportunities, Nick has found partnering opportunities with fellow professors. Mary Kate suggests connecting with other faculty members, attending university events, and partnering with fellow professors. She also shares her experiences of being wasted in the first semester of teaching and finding it difficult to find opportunities to meet with faculty members.  Developing a Curriculum in Academia The conversation turns to the complexity of developing a curriculum in academia. Developing a syllabus can be challenging, especially when it comes to creating evaluation materials and quizzes that can be objective and not lead to low grades. The tension between grades and evaluations can also be a challenge, but it becomes easier after the first time. The complexity of creating a syllabus depends on the type of class, for example, a seminar class at Stanford may require more discussion and bringing in guest lecturers. Another may require more content creation; a new class may require more detailed teaching material, including a reading list, quizzes, preparing exams etc.  Teaching As a Learning Experience Jared Lee, a faculty lecturer at McGill University and principal at Juniper, a Montreal-based consultancy, believes that teaching is a deeper way to learn and develop skills, as it requires a lot of preparation, the ability to defend theories against questions, and to be able to implement storytelling techniques. He believes that teaching 180 students who have detailed questions requires being bulletproof in preparation and how to apply the theories.   Jared also shares that this experience has built his ability in educating clients. Panelists also state that teaching has helped develop stronger public speaking skills, and the ability to manage a crowd. The discussion revolves around the challenges of teaching at universities like Stanford and the importance of facilitation in making discussions meaningful and meaningful. Access to Ancillary Benefits As an Adjunct Professor Additional ancillary benefits include access to datasets, academic journal articles, and other resources. Academic resources, such as the MSU library, are free and can be used in private practice. Academics can also leverage their academic connections to engage in conversations with people for various purposes, such as building lectures for their courses or collaborating on consulting projects. Health insurance is another asset. For example, at McGill, teaching three sections within a year can grant access to health insurance and supplemental pension and investment plans. The conversation ends with the participants discussing their takeaway from the discussion, including:  The importance of 200 hours of syllabus development The importance of fostering meaningful discussions and connections within academia for both students and faculty The importance of passion, preparation, and genuine effort in creating content for a class The need for preparation Staying updated on relevant topics and staying updated on the latest developments Credibility The panelists agreed that you should have good reasons for taking this position, and having a clear purpose for teaching can lead to better results. One additional tip was to be clear about why you are doing it and this will help you focus on how to achieve your goal. Another is to take advantage of a guest lecturer opportunity, and to be open to learning from your students. In conclusion, the panelists discussed the importance of passion, preparation, and genuine effort in creating content for a class. They also highlighted the importance of being proactive, asking questions, and embracing the unique experiences of students. By doing so, teachers can gain valuable insights and develop a deeper understanding of their field. Timestamps: 07:03 Consulting career paths and teaching experience 10:25 Adjunct teaching roles in economics 12:37 Finding teaching opportunities in higher education 15:06 Adjunct teaching opportunities and how to get started 17:24 Teaching at universities, networking, and evaluation processes 24:31 Teaching gigs, compensation, and time commitment 27:07 Teaching and consulting gigs for experts in customer experience management 31:22 Leveraging academic faculty status for consulting opportunities 34:48 Curriculum development and networking at a university 36:42 Teaching methods and challenges in higher education 39:58 Teaching and learning theories in consulting 42:48 Teaching strategies and access to academic resources 45:16 Academic benefits, networking, and health insurance 53:21 Teaching and consulting in academia   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Russell Reynolds, founder of Russell Reynolds Associates and RSR Partners, shares his story of starting his own executive search firm in the 1960s. He served in the Air Force and later joined JP Morgan. After working there for six or seven years, he joined William Clark Associates. However, shortly after, he decided to start his own firm with his friend OB Clifford and a few other friends. They collected $50,000 and started Russell Reynolds Associates. He also decided to invite his friend Lee to join the firm as partner. The firm was established in 1969, and the partnership worked well. Today, Russell Reynolds Associates is one of the largest search firms in the world. As a big producer, Russell believes that success in a service business is about doing a good job and connecting with clients. He was introduced to the senior partner of Oppenheimer and company; they became great friends which eventually led to many more clients. Key Factors in Hiring Talent  Russell states that it is important to look for people who are well adjusted, positive, and excited about the future. He believes that integrity is the single most important ingredient for success, and if people are honest and try to do the best they can, they will prevail. He shares the key points he looks for in people, including whether they are givers or takers and the questions he asks candidates. When hiring for Russell Reynolds Associates, one of the key questions is whether the person has integrity or adapts to their style of client service. Russell asks for samples of their writing, because communication skills are so important, and he also asks about family relationships and what they do on weekends. He also emphasizes the importance of taking them off base to see how they really behave, and  allows him to see how well they are prepared and how they can be receptive to new ideas. Russell believes that bright young people are the key to success in a business because they are motivated, hungry, and want to please you.  Building the Board and Expanding the Firm Russell discusses the role of an external board of advisors, which included prominent business leaders from JP Morgan and Shell. He shares the firm's approach to governance, and how it  was run like a public corporation. He also discusses the institutions and practices set up to develop people. The firm grew through branch offices, and rules established by each branch, but there were certain rules that were set up across all branches, and he explains what they were and certain aspects which were encouraged such as involvement in charitable and political activities. Russell shares stories of when he was involved in fundraising for both charitable and political campaigns, including meeting then Prince Charles, and time spent raising funds for George H.W. Bush and Ronald Reagan. Success Factors of the Firm He talks about maintaining and building relationships and shares a few tips on maintaining positive client relationships and how his firm offered new ways of providing value to clients. The firm's search businesses are broken down into practice areas such as healthcare, financial services, wealth management, consumer, industry, board, and recruiting. He also talks about building a service firm and practice management.  In 1993, Russell sold his shares in RSR Associates and decided to start RSI Partners. The firm expanded into executive search, which is still going well today. He explains why he made this decision. He is now chairman emeritus, and although he is not directly involved, he is on the board. He shares why he sold RSR Associates and why he decided to come out of retirement to start a new company. The conversation turns to career mistakes and Russell recounts a story of being charmed and betrayed, why he believes physical fitness is important in the assessment of a candidate, why he’s leary of academic achievers, and what he considers valuable assets.  Professional Career Advice Russell advises young college graduates to focus on developing their skills and investing in them. He suggests attending seminars, conferences, and listening to podcasts to learn new skills. He emphasizes the importance of having a balanced life, including vacations, family, and relationships. He also suggests being on outside boards, both charitable and for profit, for educational and helpful experiences. For those building a professional services firm, Russell suggests not taking no for an answer, not to be limited by one's imagination, and the importance of being grateful, humble, respectful, and recognizing that they are not the most important person in the world. He emphasizes staying in good health physically and mentally. However, he also recognizes that the advice depends on the individual's interests and goals. Timestamps: 05:37 Leadership, client service, and hiring practices in professional services 16:01 Leadership, governance, and talent development in a consulting firm 24:42 Political connections and relationship-building in the recruitment industry 31:43 Career development, business growth, and leadership lessons 40:46 Career development, leadership, and success   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this episode of Unleashed, Paul Gaspar discusses his experience working with artificial intelligence at a major global insurance conglomerate in Japan. The company faced pressure to streamline operations and reduce costs within its auto business. Paul, who was in a role leading the data science function, suspected that the claims area in insurance was a target-rich environment for delivering value with advanced analytics and technology. He found that similar processes were being utilized on claims regardless of the size, leading to the opportunity to put analytical rigor behind the claims estimation process. AI Use for Processing Insurance Claims Paul and his team looked at information flows at various points in the process, specifically evaluating how information collected at the time of the accident could be used to provide insight on losses. Using this information, they built predictive models using AI techniques that would allow them to predict the ultimate value of these claims from a $1 perspective, using a subset of the initial information collected at the time of loss. By building models that could do this quickly and accurately, they were able to set thresholds that would allow for automated processing and payment of claims amounts on about a quarter of the total claims volume. This reduced the workload for the team handling claims and sped responsiveness to customers with smaller claim amounts. The Process of Assessing Information Paul explains the process of assessing the quality, consistency, and reliability of information for a client. This involves assessing the types of information, blending them with data analysts experienced with using different modeling techniques and programming languages. Paul and his team used Python to investigate particular approaches, and testing results to identify useful data elements for creating meaningful insights. This process is not necessarily feasible for a data analyst with minimal data science knowledge. Instead, a step-by-step approach involves evaluating the data, considering viable modeling techniques, and experimenting with them to ensure accuracy, speed, and processing power. A team of experienced data scientists can help guide the technical approach and modeling techniques used in the case. This approach is essential for evaluating claims and determining the appropriateness of claims based on the available data. To ensure precision across various claim types, it is crucial to segment claims by value and look at the ones with the lowest value. This helps identify potential risks and minimizes leakage, which is the risk of overpaying for claims relative to processing costs. Predictive analytics is a complex art and science, and it is essential to be careful about how and where to use it, ensuring that risks are well understood and balanced against the benefits of the process.To turn a scalable business process into a working scalable business process, Paul states that change management work must be done across various functional areas. This includes ensuring that information is passed into payment systems, how automation impacts existing processes, and how to contact customers and inform them of potential benefits. Building AI Algorithms to Prevent Human Errors In the claims process, Paul states that human errors can be a significant issue, as they can lead to false positives and false negatives. To prevent human errors, AI algorithms should be trained to match human judgments and set error tolerance thresholds. This is a time-consuming part of the process, and it is essential to work with claim handling professionals to assess the performance of the models and identify errors. He also mentions that risk management is crucial in ensuring that systems make accurate decisions and avoid making mistakes. Machine learning operations (ML ops) have emerged as a concept that accounts for model performance over time, and it is crucial to continually monitor and adjust models as needed. To ensure that the model does not become overly sympathetic to human errors, it is essential to conduct testing and monitoring over time. Companies that excel in this field have developed software programs that allow for systematic monitoring of decisions. By setting thresholds and balancing processing time and error, companies can set acceptable thresholds and auto-process claims at risk-acceptable levels. The Evolution of Predictive AI Paul discusses the evolution of predictive AI, specifically generative AI, which uses existing knowledge bases and training models to generate content that is most likely to be related to an end user's query. This is the basis of foundational models used by open AI and Perplexity to create a new paradigm and use case for predictive AI. The accessibility, power, and intuitive nature of these models make them exciting for experimentation. Generative AI tools have become multimodal, allowing them to take textual, voice, image, or video inputs and respond to queries about that type of content. This allows for an incredible range of possibilities, even in the mobile first world. For example, in the case of auto claims, the estimation process could change from a low value subset to a higher value and sophistication of claims.   The multimodal input, the ease of interaction with providing information to these tools, and the ability to access from both practitioner and end user perspectives are key game changers in the future of predictive AI. Paul emphasizes the importance of change management in implementing AI tools in corporations. Timestamps: 01:04 Implementing AI in claims handling at an insurance company 08:34 Using predictive analytics in claims processing 13:41 AI-powered claims processing and error management 18:25 Generative AI's transformative potential in various industries   Links: LinkedIn: https://www.linkedin.com/in/paulmgaspar/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this episode of Unleashed, Astrid Malval-Beharry discusses an AI case study with a top 50 homeowners insurance carrier in the US. Astrid was approached by their underwriting and innovation teams to digitally transform their underwriting workflow.  Astrid shares an overview of the industry at present. The industry is facing challenges due to an increase in natural catastrophes, inflation, disruptions in the supply chains, and policyholders who prefer to have an Amazon or Uber experience with their insurance carrier. The client had three goals for the digital transformation project: increasing the level of straight-through processes, improving risk assessment, and realizing greater investment in inspection. Astrid explains what  straight-through processing is and how it works using data analytics and AI-based and technology solutions.  The second goal was to improve risk assessment by analyzing the location of the property, the condition of the property, and the policyholders themselves. The client wanted to know how AI solutions could help enhance risk assessment, reduce premium leakage, and charge the right price for coverage. The third goal was to improve the inspection process, which currently costs carriers a lot of money but only yields a few actionable insights. To achieve this, Astrid’s team shadowed underwriters across both regions and senior IDI to understand how consistently underwriting guidelines are being applied. The team also interviewed and benchmarked against competing carriers, InsurTech carriers, and carriers that look at the underwriting workflow with a different lens. This allowed them to see the art of the possible and make informed decisions about their underwriting practices without disrupting the workflow. Employing AI Solutions for Insurance Companies Astrid talks about what follows the research and benchmarking exercise and how they mapped the workflow and the ideal future state.  Premium leakage occurs when insurance companies charge less for a policy than the actual premium should be to reduce losses and charge the right price for the coverage. The inspection process is often done by agents or license inspectors, leading to a lack of actionable insights. To address this issue, a preferred digital transformation engagement was conducted by shadowing underwriters across both regions and senior IDI. This allowed the team to understand the consistency of underwriting guidelines and the impact of different levels of underwriters on the process. Competitive intelligence benchmarking was conducted against carriers with similar profiles and InsurTech carriers. This allowed the team to map the workflow as the ideal future state from an underwriting workflow perspective. However, the change should not be too abrupt, as the procurement process in the insurance industry is notoriously long.   A middle ground was identified by analyzing claims activities on the book of business NIS to identify the biggest losses and how implementing AI solutions would give the highest return on investment. Change management is also important, as it involves both technology and people and processes. The organization's readiness to implement new digital tech-driven solutions is also crucial. Astrid also touches on the convergence of people and processes when implementing technological solutions in change management. Questions to Ask an AI Vendor Astrid shares a list of questions to ask an AI vendor, including accuracy, model explainability, model bias and fairness, and scalability. She has experience working with insurance carriers, analytics, technology vendors, and private equity firms, giving her a deep understanding of what solutions work and don't work. When selecting an AI vendor, it is important to understand a series of fundamentals about the solution. The first question is about the accuracy and performance of the AI model. It's crucial to understand how the vendor measures accuracy and how they handle situations where the model may not perform as expected.  The second question is about model explainability, which is crucial in the highly regulated insurance industry.  The third question is about model bias and fairness, and how the vendor addresses and mitigates biases in their AI models. The fourth question is about scalability. While some solutions are considered vaporware, and Astrid explains what vaporware is, there are legitimate, enterprise-grade solutions that have legitimate AI technology. By asking these questions, clients can better engage with the right AI vendor and ensure the right decision-making process. She states that licensing data from a vendor is the right path due to the ongoing maintenance required. AI vendors are now incorporating large language models, such as chat GPT, into their AI models. However, this is not the core competency of an insurance carrier, which is to assess risk.   Astrid stresses that results should not be expected too quickly. However, she does mention that they are already seeing results. She mentions a project that has been 16 months in development, and it is not expected that a solution will immediately bring new business or reduce expenses. However, the results have been significant, with a client seeing a 75% increase in straight-through processing and reduced manual injury interventions. Operational efficiency has also soared, and better risk assessment has been achieved. Timestamps: 01:02 Digitally transforming underwriting workflow for a top 50 US homeowners insurance carrier 03:08 AI solutions for insurance industry digital transformation 07:14 AI implementation in insurance industry 13:42 AI model accuracy, explainability, bias, and scalability in insurance industry 17:54 Evaluating AI vendors for insurance industry use cases Links: Website: https://www.stratmaven.com/ LinkedIn: https://www.linkedin.com/in/astridmb/   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Julie Noonan shares a case study on using AI while working with a top 15 global pharma company to get the most insight from the data and reduce time to market or time to development of their particular molecules and drugs.  In early 2022, the pharma company was using artificial intelligence and machine learning to analyze clinical and research data. The organization Julie worked with was a digital and data concentration alongside data scientists and computer scientists. Julie shares where this organization placed focus and what their goal was with regards to using AI and machine learning(ML), and the role she played in developing this center of excellence.    Company Use Cases of AI and ML Most of the early use cases involved clinical data and research data. Clinical groups were conducting the first clinical trials with animal populations, and recording their data in various tools. They were studying a specific model molecule to understand its implications across projects. For example, they were studying a molecule for one disease indication and wanted to predict its relevance for another project that another team was working on. AI and machine learning prompts were used against the data, allowing them to organize and prompt data to return potential other indications that could be tested with the collected data. Julie talks about how companies are grappling with the rapidly evolving AI technologies, and a center of excellence can be a solution. However, concerns may arise about adding bureaucracy and slowing down innovation. She explains how she helped her client deal with these concerns. The company culture of this global organization highly values entrepreneurialism, and allows data ownership within its group, allowing for experimentation unless it directly impacts patients. She mentions that they were able to educate interested groups about the importance of patient safety and ethics. The organization rewards innovation by publicly recognizing those who come forward with project ideas. Even if the project is not great or a failure, it is a lesson learned. The company's top priority is the patient, and they reward those who come forward with ideas without imposing penalties or shutting down projects. The organization also stresses the need to comply with correct procedures to avoid ethics violations.  Inspiring a Company Culture of AI and ML Innovation  Julie talks about how her role in change management helped inspire innovation within the company.  They used polls to encourage innovation and encourage change. They run exciting advertising, competitions, and partnerships with universities, allowing for the introduction and excitement of new AI technologies. This approach helps companies navigate the challenges of AI adoption and ensures that their innovation is not stifled by bureaucracy. Julie explains that for change to be successful, leader support plays a key role. The center of excellence (COA) is a key change management initiative within an organization. It involves making people aware of AI and machine learning, which can be achieved through various marketing strategies. The organization chose a name that aligns with its culture and annual message from the CEO, highlighting the future and benefits of AI and machine learning in drug delivery. The COA also held pop-up events where individuals could access learning materials, certifications, and practice using fake data. Office hours were provided for those who had no idea about IT architecture or how the organization operated. Newsletter articles, posted posts, and video monitors were used to promote the COA's existence. A community of practice was formed, which met monthly for educational sessions and discussions on AI usage. Julie also explains how they monitored ethics and DEI to represent the target patient population. Measuring the Efficacy of the COA Measuring the effectiveness of the COA is challenging due to the lack of metrics. Julie talks about measuring awareness, and how the organization has grown from six members to a global community of over 1500 people. She also mentions accessing use of the learning, accessing use of the sandbox, and the number of projects brought into be evaluated,  focusing on their metrics. For example, in the first year, 10 projects were part of a competition with a local university, where teams of university and company employees worked together to implement AI/ML elements in their projects. The project metrics included surprises, opportunities, and lessons learned. This success was significant in the pharmaceutical industry, as more drugs and experiments fail than succeed. Over the last two years, the number of data scientists has grown dramatically, and the COA has become a vital tool for the organization's digital transformation efforts. Timestamps: AI use cases in pharma company 06:33 Balancing innovation and governance in a large organization 11:29 Marketing a new AI center of excellence internally 15:47 AI and ML center's effectiveness measured through awareness, access, and project metrics. Links: Website: www.jnoonanconsulting.com LinkedIn: https://www.linkedin.com/in/jnoonanconsulting/   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Markus Starke, an advisor for cybersecurity and digital process transformation, has recently been working in cybersecurity for the AI applications that corporations are using. Marcus explains that, AI plays a significant role in work, particularly in intelligent process automation. This concept involves combining technologies like robotic process automation, process mining solutions, chatbots, Optical Character Recognition, and more advanced forms of machine learning and generative AI to build end-to-end processes. However, cybersecurity issues can affect these automation systems, especially as more users use them individually. Safety Measures with AI Automation Markus talks about several dimensions of cybersecurity with AI automation. To ensure the safety of AI-related automation situations, clients are asked to review their setup from a Target Operating Model perspective. A framework is created to guide this process, including governance, secure development processes, and creating awareness about potential risks. Governance involves governing roles and responsibilities, access, user rights, and other aspects of the system. Secure development processes ensure that solutions only access the data they should access, store data securely, and use encryption. Securing the platform is another dimension, involving standard frameworks for cloud-based solutions. Awareness about the human factors in reducing risk levels is crucial for achieving good cybersecurity. And lastly, monitoring and reporting ensure that the environment is controlled to a degree. Examples of Cybersecurity Threats Using AI Tools Markus discusses cybersecurity threats with AI tools, such as generative AI (GPT) for working on company data. One example is a human user extracting data from their corporate data pool and sending out an email with this data, and sending it to their private email account, which could be used in a public chat GPT instance. This can be controlled by creating awareness and setting up standardized IT security control mechanisms to limit data extraction from corporate networks. Another example is using proprietary corporate data for advanced data analytics on GPT, which could expose it to a potential attacker. Private computers are typically less secure than corporate ones, making them more prone to being attacked or losing data to an attacker. Corporations generally want to limit the type of data that is made publicly available in generative AI applications. He states that it is not always clear what happens to the data that is input to AI applications.  Markus also discusses the risks associated with using consumer versions of chat GPT, as any data uploaded could potentially be put into its training data. However, there are options for setting up AI applications in a limited way for specific corporate use cases, but it is important to evaluate these solutions on a case-by-case basis to ensure they fulfill specific needs and governance. With Gen AI, it is crucial to balance between limiting too much while maintaining control. AI Tools Retaining Data The discussion revolves around the use of AI tools, such as Zoom, which may be retaining data on calls or transcribing them without letting users know. This raises concerns about the accessibility of information to organizations. It is essential to ensure that these tools align with cybersecurity standards and are compliant with protection requirements. However, this may be a case-by-case consideration, and Markus emphasizes that it is always necessary to question security processes. In addition, he mentions that it is crucial for independent consultants to raise awareness about cybersecurity and AI. Basic rules apply to the use of AI, such as ensuring data is stored in controlled instances and using strong protection mechanisms like passwords, access rights, and encryption. When working with clients, it is important not to make their lives too simple by creating AI solutions for specific business problems. Cybersecurity can sometimes be perceived as slowing down businesses, but it is an essential control that must be maintained. Independent consultants should review these aspects and not make their work too easy. Markus strongly recommends that consultants should be aware of active and forthcoming regulations that apply to AI when setting up solutions for clients.  Timestamps: 0:03 Cybersecurity risks in AI-powered process automation 03:10 Governance and security for AI-related automation 05:53 Cybersecurity risks with AI tools and data 10:48 AI data security and control 14:47 Cybersecurity and AI in business   Links: Freelance Website: http://starkeconsulting.net/ Company Website: https://www.ten-4.de/   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Cheryl Lim Tan discusses her experience working with a financial wellness product powered by AI. The client was early in their journey and needed to raise awareness of their product. They needed to refine their product further and gain more users to gain feedback and make adjustments to its features. Cheryl was brought in to take care of the entire marketing function.  Cheryl's approach involved figuring out the company's brand, target audience, and value proposition. She also focused on articulating the unique value proposition of the product compared to free tools like Chat GPT. By addressing these aspects, the consultant was able to create a clear framework for the client's marketing function and reach investors. Prompting AI Tools Cheryl highlights the importance of education in the AI world, as AI tools are prompt-driven and consumers may not know how to interact with the interface and how to prompt it. To address this, they developed a suite of YouTube videos on how to prompt the tool for different situations or information. Another key aspect of targeting the client was developing personas. These personas were identified and distilled into a framework that included the top three messages, pain points, and expectations for each persona's customer journey. Consumer Education and AI Tools Cheryl emphasizes the importance of consumer education in the AI world, as it helps to draw the right audience in and ensures the success of the product.She also shares consumer insights about the types of users who are open to using AI tools, such as Gen Z, who are digital natives and more likely to adopt AI in their everyday lives. The proliferation of AI in 2023 has helped AI companies get in front of their target audience and engage with them. Gen Z is likely to be one of the highest adopters of AI, while millennials and Gen X are more cautious and hesitant. To ensure AI adoption applies to their market, companies must be clear about their personas and target audience, and consider using colors and layouts that appeal to the everyday consumer rather than catering to programmers. SEO and AI In terms of SEO, search engine optimization, and paid search, Cheryl highlights the importance of being conscious about who they are trying to reach and how to present their brand accordingly. She also discusses the challenges faced by early AI startups in figuring out who they are targeting and how to signal their preferences. She shares their marketing mix, which includes SEO, content marketing, working with influencers, an affiliate program, email marketing, and discord communities. They found that email marketing still works and was a great way for them to pick up new users. They also mention brokers for finding AI email lists that are a good fit for their brand and audience. The Benefits of a Discord Community Cheryl talks about the importance of having a dedicated Discord community related to your product to gather information, which is valuable for marketing and product refinement. She explains how Discord can be used, and how she has used it in marketing.  She emphasizes the need for authenticity in inserting oneself into conversations and promoting the product. Reddit, she believes, is taking over Google in terms of cost for acquisition, with a cost per click down to $1 compared to Google's $4-6. Reddit also allows for targeted placement in relevant conversations, making it more cost-effective than Google. Timestamps: 00:03 AI-powered financial wellness product and marketing strategy 04:00 AI marketing strategies for consumer education 07:45 Targeting audiences for AI technology 11:13 Digital marketing strategies for a startup 14:14 Marketing an AI product using Reddit and Discord Links: Website: https://www.cheryltanconsulting.com/ LinkedIn: https://www.linkedin.com/in/cherylltan   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Barry Saunders, a digital expert at McKinsey, discusses his background in the firm and his experience in AI-related projects. He worked in the LEAP practice, which built platforms for video streaming, preventative maintenance, and optimization tools. He left McKinsey to become Chief Product Officer at an Australian fashion company and recently joined MXA, a strategic digital technology company in Australia. Barry suggests a two-by-two typology classification scheme for AI-related projects. The first quadrant focuses on understanding patterns of behavior, while the second quadrant focuses on predictive behavioral modeling, third is more about text orientated and understanding meaning. The fourth quadrant focuses on regenerative AI and content creation. Barry believes that combining these quadrants can lead to personalized content for different customers and valuable insights and can unlock interesting value.  AI Use Case Study Barry and his partner have been working on an AI toolkit to automate time-consuming work for management consultants. They developed a startup called First Things, which uses Gen AI to create classic McKinsey storylines from unstructured data. This tool has helped executives work through their strategies and report outcomes. They have also worked with clients on the AI journey, especially regulated industries. They have found that some tasks can be done more effectively with AI. One project they did was analyzing insurance policies for large-scale agricultural businesses, which are often complex and drift in meaning as language is updated. They created a tool that would analyze these policies, extract semantic meaning, and identify where drift took place, allowing them to align documents and simplify policies. One of the projects they are currently working on is simplifying lending policies for banks. In Australia, many lenders do home lending as their primary base, but the technical platforms used by banks and non-bank lenders are ancient and difficult to navigate. They are working on simplifying policies and offering home loans more simply. Building AI Tools The level of effort required to build a tool like this is not limited to building it. Many of the tools available are free, and there are many software as a service tools available that can perform similar tasks. To build a tool like this, one should be clear on what they are trying to do, such as simplifying a policy or comparing two different policies. The AI toolkit has proven to be effective in automating time-consuming work for management consultants and other clients. It is essential to be familiar with the tools and their capabilities to effectively utilize AI in various aspects of business operations. The legal space offers a vast array of tools for generating and analyzing contracts, including software as a service tools. To use these tools effectively, it is essential to be familiar with the large language model and the tool being used. Tuning these tools to get the desired response requires understanding the chain of logic and the outputs. To build a production-oriented tool, consider using large language model operations (LLM ops) or large language model operations (LLM ops) in a broader software architecture or workflow. Google, AWS, and Microsoft offer guides on how to integrate these tools into their software stack. It is crucial to be clear about the tasks and outputs of these tools, and to work with teams who are familiar with these systems.  Using AI Applications Barry discusses his work on AI applications, specifically RF cues and analyzing large documents. He built a proof of concept using a tool called mem.ai. He talks about a template he built to analyze questions in RFQs, which are often templated and consistent across government agencies. The system is particularly useful for handling open-ended questions and generating text about your company's services, processes, etc. This speeds the process of applications, and the system can be used to set the tone for the next step in a project. Timestamps: 00:03 AI projects and experience at McKinsey with Barry Saunders 01:57 Using AI to analyze text data and create personalized content 05:23 Simplifying complex insurance policies using AI 09:06 Building a tool for analyzing and comparing legal documents 12:31 Using AI to automate RFQ response generation Links: Whitepapers: https://www.mxa.com.au/whitepapers Company Website: https://mxa.com.au/ LinkedIn: https://www.linkedin.com/in/barrysaunders/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: In this episode of Unleashed, Phil Bellaria shares a case example of building a Chat GPT using open-source large language models. The client was a large telecommunications company with an immense amount of unstructured data, including customer feedback, feedback from employees through surveys, and transcript transcripts from millions of phone conversations and text chats. The problem statement was to derive insights and understand the state of the business, identify trends and topics as quickly as possible. The process took place through 2018-2020. Working with a data scientist, and using Google's BERT methodology for natural language processing, the team coded an algorithm that identified topics and classifiers from the unstructured data, scored each topic and phrase on sentiment (positive or negative comments) and created a short summary of customer or employee comments related to each topic. The process of building and running the model was processing intensive, and the first step was testing and iterating the model on smaller samples of data. The company held employee surveys, which was processed through the test model, the data was reviewed by HR business partners and business leaders to check for accuracy. The model was trained on all the information in Wikipedia, but other specific information and words were added to refine it. Over six to eight months, the model was able to accurately represent what employees were saying.  Using AI to Improve Sales Pitches Phil discusses the use of AI in business applications and how it can be used to improve sales pitches. He explains that the problem was to understand why sales agents were not pitching a strategic product effectively. By feeding data from conversations with customers about the product, the algorithm was able to identify words and phrases associated with successful sales and non-successful sales. This information was then used to train sales agents on the right expressions and words to use when pitching the product.  Phil shares some phrases that work well and those that don't, such as promoting a streaming product by associating it with popular shows. He also discusses the challenges of building AI models and securing and protecting data. He also addresses the cost of building an AI model. Using AI for Next Best Customer Actions Phil shares one example of AI-related projects which used AI algorithms to predetermine the next best action for a customer that can be used in real time to learn the best approach in customer interaction. The AI engine uses reinforcement learning to improve the power of the recommendations. The process involved building the right APIs into existing systems and ensuring SLAs in terms of responsiveness. The algorithm itself uses sophisticated statistical modeling techniques, but the main challenge was integration and timeliness. Challenges Implementing AI Phil talks about the challenges of implementing this process. He emphasizes the importance of defining the business problem and getting the technical team involved early in the process. He talks about time spent translating the problem into technical applications, allowing technical personnel to use their skills to solve the problem.  He also shares a timeline for starting a recommendation algorithm. The process includes writing, pulling in data, creating a data environment, scoring, and algorithms. Another consideration is change management which involves limited pilots and controlled AB tests across the population, and time allotted to roll out and testing.  Phil discusses the power of AI in data analysis, stating that it can provide insights and interactions that are not always available before. The real power lies in bringing new agents to speed up the process and elevating the performance of middle-tier agents. The lower performing agents often wouldn't use the tool, so they don't see as much impact.  Timestamps: 00:02 Using AI to analyze unstructured data for business insights 03:23 Using AI to analyze customer feedback and sales data 08:14 AI-powered next best action engine for sales 12:16 Implementing AI-powered customer service tool 16:43 Using data and analytics in call centers Links: Company website: https://www.cdaopartners.com/   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Diane Flynn, a multi-talented professional and author of  two books and two popular courses on Udemy, Growth Mindset and Communicating with Confidence, has been working with her company, Reboot Excel, for the last decade. The company aims to help women feel current with technology, connected with a professional network, and confident in their return to work. She has had thousands of people go through their programs and continues to offer resources on their website and coaching workshops. Diane talks about her experience of returning to the workplace after taking a long hiatus, and how she became aware that many women wanted to return to careers but found it difficult to do so for a variety of reasons. She observed that many women returning to work are immensely talented and capable, but they often face a confidence crisis when trying to get back into the workplace. Consequently, she was inspired to start Reboot Excel with four friends. The company was successful, and through her work, she found that many people in the workplace also needed the same leadership skills. She launched her own company and started working in the B2B space. Today, she coaches executives to build more inclusive workplaces and empower people to do their best work.   Helping Women Return to the Workplace As a stay-at-home mom, Diane met many intelligent, skilled, and immensely talented women who had been successful in their prior careers but had lost confidence. To help women regain confidence, she encourages them to reframe their achievements and skill sets based on what they have done, whether they received a paycheck or not. Many of these women have since landed amazing careers, and some have even held significant roles at Stanford University. Diane also worked closely with Carol Cohen, founder of I Relaunch, who works with companies like McKinsey, JP Morgan, Morgan Stanley, and Goldman Sachs. They offer a return-ship program, similar to an internship for someone returning to their career, which is usually three months long and provides extra mentorship. Diane uses this program daily to help women navigate the latest workplace technologies and navigate the culture they'll be working in. Typically, 80% or higher of the women who go through these returnships are hired into full-time roles. Diane recommends checking out I Relaunched.com for more information on their work in this area.  Working As an Instructor at Modern Elder Academy She mentions that Chip Conley, an instructor at Modern Elder Academy, founded the program to help people stay relevant, purposeful, motivated, and energized in midlife. She shares what motivated Chip to start the program or, as it is also known, the first modern wisdom school. The course is designed for women aged 45 to 70, but can accommodate older and younger individuals. The focus is on helping participants identify their strengths, sparks of joy, drains, impact they want to have, and who they want to work with. The most important aspect of the program is focusing on core non-negotiable values, as they are crucial for finding fulfillment in one's job. The program includes various exercises, one-on-one coaching, and meals together. The alumni program has thousands of people who come back for reunions and support each other. Chip is also launching his newest book, Learning to Love Midlife, which shares his story. Women Helped by the Program Diane talks about some participants who have found their purpose and passion and decided to pursue new career paths, such as a corporate executive who wants to become a coach. Another participant, a young woman in her mid-30s, decided to start a new type of university and seek funding and advisors. This is an exciting example of how people can take time to reflect on their goals and motivations and explore opportunities outside their current career. Many people are going through transitions, such as divorce, widowhood, or moving geographically, and it is essential for them to take time to reflect on what they can bring into the world and what impact they want to have. By taking time to reflect on their goals and motivations, companies can better serve their needs and create a more fulfilling and fulfilling life. How the Program Helps Women Diane discusses the exercises he uses to help people find their purpose and passion at home. She recommends that anyone interested should visit her website (see below) and where they can find two-pages of questions to take personal inventory and help them start the process.  She talks about aspects of the inventory, including identifying what fills your tank, what drains you, your non-negotiable values, strengths, and many other areas for development. She encourages people to ask their friends what they think they do well and what they do not. This exercise helps them understand their strengths and weaknesses, which can help them develop their skills and pursue opportunities in their chosen fields. Diane also emphasizes the importance of getting feedback, as it is crucial for growth and development. The conversation revolves around personal inventory, reflection exercises, and the importance of having a north star and a mantra Diane shares her mantra, which is to engage in creative collaboration with people she respects to change lives and build community. She describes what’s important to her and how she applies it to work. This is a creative process that she finds fulfilling and helps her say yes or no to opportunities. Diane suggests that after completing these inventories, individuals can gather insights and advice on how to find their purpose and passion. She suggests finding an accountability partner, hiring a coach, attending workshops, or using the Japanese concept of Ikigai to help move forward in the right direction. The Growth Mindset Course One of Diane's courses on Udemy, "Growth Mindset," focuses on the importance of changing one's mindset and getting out of their comfort zone. She describes a fixed mindset as defined by playing it safe, not taking risks, not asking for feedback, and worrying about failure and goes on to explain how this limits growth, on the other hand, a growth mindset is an uncomfortable space that requires stepping out of one's comfort zone to make great things happen. The course covers six key roadblocks that hold people back from having a growth mindset. These include fear, lack of confidence, fear of failure, fear of success, perfectionism, inertia, and not knowing what to do. By addressing these barriers, individuals can tap into their passions and find meaningful activities that bring them joy, after which, through the course they develop strategies to overcome these barriers.  In conclusion, Diane's personal inventory exercise and Udemy course on growth mindset offer valuable insights for individuals and organizations seeking to improve their lives. By addressing the six roadblocks and tapping into the joy that comes from finding meaningful activities, individuals can find their passion and purpose in their lives. Timestamps: 04:13 Rebooting careers and hiring experienced professionals 08:42 Modern elder Academy and finding purpose and passion in midlife 13:54 Finding purpose and passion through self-reflection exercises 19:16 Self-awareness and personal growth 25:11 Self-reflection and career development 29:23 Growth mindset and overcoming obstacles to achieve success   Links: Company website: https://www.rebootaccel.com/ Modern Elder Academy: https://www.meawisdom.com/ Udemy Profile: https://www.udemy.com/user/diane-flynn-2/ Books on Amazon Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes: Terry Roopnaraine, a technical consultant for international development projects, has been working in the field for about 25 years. He provides technical services to support projects funded by bilateral donors, UN agencies, and multilateral agencies like the World Bank. Over the last decade, an increasingly important area of the practice has been working with foundations. Terry's work involves providing services that are required to make these projects work and deliver the best impacts on the ground for the beneficiary populations they serve. There is a huge accountability chain because these projects are often funded through the public purse of one country or another, so there must be some kind of proper accountability and evaluation. The Role of a Technical Consultant Terry talks about the roles a technical consultant might play. He divides his work into two broad areas: project implementation and management, and learning evidence and evaluation. The implementation side of technical consulting focuses on getting a project up and running, recruiting staff, putting in inputs, designing activities, and ensuring that things are run according to time and budget. The learning evidence and building the knowledge base aspect of technical consulting is also crucial, as it ensures that a program is delivering on time, not leaking funds, and has robust monitoring systems in place to capture change systematically. Evaluation of effectiveness is another dimension of technical consulting, as it is about delivering the best impact for the beneficiary population.  Research and Evaluation in Technical Consulting Over his career, Terry has worked more in the research evidence and evaluation side of technical consulting, which is partly an artifact of being a refugee from academia. His intellectual and academic orientation was research-directed, and when he moved to development work, he focused more on research evaluation and evidence building. One of his early projects was Conditional Cash Transfer Evaluations in Latin America, which were an aid instrument that aimed to incentivize uptake of health and education services. These programs were popular throughout Latin America and were easy to evaluate quantitatively. However, there was a growing awareness that the program's effects were not as expected. To understand why the program didn't have the expected effects, Terry began conducting ethnographic and qualitative research. He worked with other qualitative researchers to push the idea that understanding the voices of people who were benefiting from these programs was important. Terry talks about the projects he worked on during the early 2000s in Nicaragua, El Salvador, and Peru and how his background in anthropology influenced his approach, and how they conducted research differently from previous projects. Challenges of Conducting Ethnographic Research  Terry explains the challenges of conducting semi-structured interviews for management consultants and how they approach this process. The interviews were conducted in a way that was more accessible to anthropologists than for management consultants. Terry talks about the process of conducting ethnographic research in a short training workshop format. He highlights the complementarity between quantitative research findings and qualitative research findings. Survey work is broad and generalizable, while qualitative research is done over a smaller sample and is more in-depth. For example, in Nicaragua, an iron supplement for children was given out for three years, but blood tests showed no effect. In the next round of community field research, the researchers asked questions about the iron sprinkles and found that it was commonly believed that the sprinkles had a terrible reputation due to alleged health risks, and no-one wanted to pass them out.  The Importance of Household and Nutrition Research Terry also discusses the importance of household research in nutrition research. Household research is crucial because it helps observe people preparing food, feeding children, hygiene, sanitation practices, dietary diversity, and meal frequency. One example is in Cambodia, where an organization gave eligible families chickens to supplement their meat-poor diets with eggs and animal protein. However, people were not increasing their consumption of chicken and eggs, instead selling the chickens to buy bulk staples like rice. Recently, a project in Rwanda for UNICEF found that people living in resource-constrained circumstances are looking for bulk heavy foods, such as maize meal, sorghum, cassava, or rice, as the first thing they look for because they are concerned about financial or food security, and these foods provide bulk and store well. This approach allows for a deeper understanding of the issues faced by people in these communities. He discusses the importance of a sufficient and diverse diet for children, particularly under two years old, in remote areas.  Terry shares his experience with personal safety in various countries, including rural areas where he has worked. And while he has taken a Hostile Environment training course, he believes that shared humanity is the most effective safety mechanism, as most people have no desire to do harm. By being receptive, respectful, and engaging with people in a positive way, most places are generally safe. Effectiveness in Development Aid and Philanthropy Programs Regarding the effectiveness of development aid and philanthropy programs, he states that the appropriateness and relevance of a program to an area are crucial, as it should address specific needs in a direct way. He identifies how certain approaches are ineffective, and stresses that a direct relationship between needs on the ground and the program is more likely to succeed. The design of the program should be simple and efficient, as most successful programs are simple and straightforward. The context of the program is also important. The more functioning the governance context, the more likely the programs are to succeed. For example, in Rwanda, a country that has experienced genocide, the efficiency of food distribution was impressive. Terry talks about how initiatives worked in Rwanda and the importance of collaboration with government ministries to deliver health, nutrition, or education projects, as they are more likely to produce impact. However, in countries with weak governance, the government may not be a viable partner in delivering development programming. To scale up projects, the government must be involved.  Timestamps: 00:04 Technical consulting in international development 05:32 Technical consulting in development projects 12:35 Anthropological research methods in cash transfer programs 20:35 Ethnographic research methods and findings in global health 27:18 Food security, safety, and anthropology in various countries 33:18 Development program effectiveness with a development economist Links:  UNICEF Ethiopia study: https://www.unicef.org/ethiopia/reports/unicef-generation-el-nino Paper on El Salvador’s Conditional Cash Transfer program: https://www.tandfonline.com/doi/full/10.1080/00220388.2015.1134780 Paper on nutrition in Rwanda: https://onlinelibrary.wiley.com/doi/10.1111/mcn.13420 Study on Peru’s CCT in indigenous communities: https://publications.iadb.org/es/pueblos-indigenas-y-programas-de-transferencias-condicionadas-ptc-estudio-etnografico-sobre-la-0 Suggested readings: Rossi, Lipsey, Freeman: Evaluation, a systematic approach (not terribly exciting, but a real wealth of evaluation info) Olivier de Sardan & Piccoli: Cash transfers in context: an anthropological perspective (this collection contains an essay I wrote together with my collaborators on the Peru project) Lewis, Rodgers and Woolcock: Popular representations of development: insights from novels, films, TV and social media (fun read, one of the authors is a good friend of mine) Amartya Sen: Development as freedom (still a classic) Paul Richards: Ebola: a people’s science helped end an epidemic (fascinating study, quite anthropological, of the community response to Ebola in Sierra Leone) Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.