AI adoption in organisations is moving ‘too fast’: KPMG survey

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Concerns around use of AI was more prominent among smaller firms, Gen Zs and Millennials. Ethics, governance, and regulation of AI are major factors, the study notes

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Business leaders are experiencing a COVID-19 whiplash from the pace of artificial intelligence (AI) adoption, according to a report by audit firm KPMG. They see this acceleration to be moving “too fast”, but still are confident that AI can solve several challenges.

In its study titled Thriving in an AI World, the advisory firm notes that nearly half of business leaders in manufacturing, retail, and technology sectors believe AI is moving faster than it should. KPMG surveyed 950 business leaders across seven industries including technology, financial services, manufacturing and healthcare.

And within the industry group, leaders in healthcare and life sciences overwhelmingly said that AI helped them to monitor COVID-19 pandemic, develop vaccines and distribute them. The sentiment had resonated with executives in Financial Services, who noted that AI’s ability to detect fraud proved very effective this year.

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Concerns around use of AI was more prominent among smaller firms, Gen Zs and Millennials. Ethics, governance, and regulation of AI are major factors, the study notes.

“Moreover, many business leaders do not have a view into what their organisations are doing to control and govern AI and may fear risks are developing,” said Traci Gusher, principal of AI at KPMG.

In December, another global audit firm PwC noted in its report that AI use in India during the pandemic was greater than in countries like the U.S., Japan and the U.K.

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KMPG’s survey also notes that executives prefer a regulated path for AI as opposed to a ‘Wild Wild West’ model – – a lawless and unruly.

“Additionally, a more robust regulatory environment may help facilitate commerce,” said Rob Dwyer, principal at KPMG. “It can help remove unintended barriers that may be a result of other laws or regulations, or due to lack of maturity of legal and technical standards.”

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Manu Sawhney: ICC asks CEO Manu Sawhney to go on leave after preliminary investigation by UK-based agency shows misconduct | Cricket News – Times of India

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MUMBAI: The International Cricket Council (ICC) has asked Chief Executive Manu Sawhney to go on “leave” after an investigation, outsourced to an international agency of global reputation, has preliminarily concluded that his conduct over the last 12 months has been unsavoury and against the federation’s way of leading its operations.
“Allegations ranging from very serious to as petty as arrogance and high-handedness, to as internally serious as hiring and sacking employees at whim are being held against this individual. Cricket administration has been in absolute disarray and ICC had to act,” sources in direct know of developments said.
The ICC, TOI understands, commissioned UK-based accounting firm PriceWaterHouseCoopers (PWC) earlier this year to investigate Sawhney’s “manner of conduct” within the organisation and its multiple stakeholders ever since coming on board a couple of years ago. The final report of the investigation is expected to be brought out anytime soon.
Well-placed sources confirmed to TOI this week that the results of the investigation – a forensic, interviewing, auditing and clinical assessment of employee-conduct – has been looking into several misdemeanours on the part of Sawhney, who’s been under the scanner for some time now. PWC UK is learnt to have interviewed ICC employees at all levels over the last one month to gather information on the individual and sources say the response has been “detrimental”.
From unilateral allotment of ICC events – or at least the promise of it – to dictating the upcoming media-rights cycle of the governing body to “employee harassment” and the proverbial “antagonising of the Big Three”, sources say “things were always under the scanner”.
“PWC UK was brought on board around January. The reports are due anytime soon. It’s been a horrible time for the ICC. It’s very unfortunate if what is being spoken of in whispers turns out to be true,” well-placed sources said.
TOI has written to the ICC on email about these developments and is waiting for an official response. TOI is in possession of further details on this investigation but is waiting for the ICC to come on record.

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Exclusive: ICC asks senior employee to go on leave after preliminary investigation by UK-based agency shows misconduct | Cricket News – Times of India

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MUMBAI: The International Cricket Council (ICC) has asked a senior employee to go on “leave” after an investigation, outsourced to an international agency of global reputation, has preliminarily concluded that the individual’s conduct over the last 12 months has been unsavoury and against the federation’s way of leading its operations.
“Allegations ranging from very serious to as petty as arrogance and high-handedness, to as internally serious as hiring and sacking employees at whim are being held against this individual. Cricket administration has been in absolute disarray and ICC had to act,” sources in direct know of developments said.
The ICC, TOI understands, commissioned UK-based accounting firm PriceWaterHouseCoopers (PWC) earlier this year to investigate the employee’s “manner of conduct” within the organisation and its multiple stakeholders ever since coming on board a couple of years ago. The final report of the investigation is expected to be brought out anytime soon.
Well-placed sources confirmed to TOI this week that the results of the investigation – a forensic, interviewing, auditing and clinical assessment of employee-conduct – has been looking into several misdemeanours on the part of this said individual, who’s been under the scanner for some time now. PWC UK is learnt to have interviewed ICC employees at all levels over the last one month to gather information on the individual and sources say the response has been “detrimental”.
From unilateral allotment of ICC events – or at least the promise of it – to dictating the upcoming media-rights cycle of the governing body to “employee harassment” and the proverbial “antagonising of the Big Three”, sources say “things were always under the scanner”.
“PWC UK was brought on board around January. The reports are due anytime soon. It’s been a horrible time for the ICC. It’s very unfortunate if what is being spoken of in whispers turns out to be true,” well-placed sources said.
TOI is in possession of further details on this investigation but is waiting for the ICC to come on record.

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