Top 10 business applications stories of 2024

The Hype Cycle: Understanding the Phases

The Gartner hype cycle is a model that describes the stages of technology adoption, from peak enthusiasm to eventual disillusionment. The cycle consists of five phases: peak, trough, slope of enlightenment, slope of disillusionment, and the post-peak phase. Understanding the hype cycle is crucial for businesses to make informed decisions about AI adoption.

The Five Phases of the Hype Cycle

Peak: The initial excitement and optimism surrounding a new technology, often driven by early adopters and media coverage.

The council had invested heavily in customising the system to meet its specific needs, but it was becoming increasingly difficult to maintain and update the system.

The Challenges of Migrating Customisations

Migrating customisations from an on-premises SAP ERP system to a cloud-based system poses significant challenges. These challenges include:

Technical complexity: The customisations are often deeply integrated with the underlying system, making it difficult to migrate them without disrupting the entire system. Data migration: The customisations may rely on custom data structures, which can be difficult to migrate to the cloud. Integration with other systems: The customisations may need to be integrated with other systems, such as databases or third-party applications, which can add complexity to the migration process. ## The Benefits of Cloud Migration*

The Benefits of Cloud Migration

Despite the challenges, cloud migration can offer several benefits. These benefits include:

Cost savings: Cloud-based systems can reduce the need for on-premises infrastructure, resulting in cost savings. Increased scalability: Cloud-based systems can scale more easily to meet changing business needs. Improved collaboration: Cloud-based systems can provide real-time access to data and applications, improving collaboration among teams.

This allows the customer to have a seamless transition to the new platform, with minimal disruption to their business operations.

The Benefits of Third-Party Support Providers

Reducing IT Costs

Third-party support providers can help reduce IT costs by providing cost-effective solutions for maintaining and supporting older enterprise software platforms. By outsourcing support to a third-party provider, IT departments can avoid the costs associated with hiring and training internal staff to support these platforms. Additionally, third-party providers often have access to economies of scale, which can result in lower costs for the customer. ## The Role of Third-Party Support Providers*

The Role of Third-Party Support Providers

Providing Expertise and Resources

Third-party support providers have access to a wide range of expertise and resources, including patches and support documentation. This allows them to provide high-quality support and maintenance services to customers, even for older enterprise software platforms. By leveraging the expertise and resources of a third-party provider, IT departments can ensure that their business operations continue to run smoothly, even as they transition to new platforms. ## The Benefits of a Seamless Transition*

The Benefits of a Seamless Transition

Minimizing Disruption to Business Operations

A seamless transition to a new platform is critical for minimizing disruption to business operations.

This is because many SaaS products are not designed with security in mind, and the ease of use can lead to a lack of oversight and monitoring.

The Risks of SaaS Products

Unsecured Data and Lack of Oversight

SaaS products often rely on cloud-based infrastructure, which can be vulnerable to cyber attacks. Without proper security measures in place, sensitive data can be compromised, putting the entire organization at risk. This is particularly concerning for companies that handle sensitive information, such as financial data or personal identifiable information (PII). Data breaches: SaaS products can be vulnerable to data breaches, which can result in unauthorized access to sensitive data. Lack of control: Without proper oversight and monitoring, companies may not be able to control access to their data, leading to potential security risks. * Insufficient security measures: Many SaaS products lack robust security measures, making it difficult to protect sensitive data.**

The Consequences of Runaway Costs

Financial Burden and Data Leakage Risks

The ease of use of SaaS products can lead to runaway costs and data leakage risks. Companies may not be aware of the true cost of using a SaaS product, as the costs can add up quickly. This can lead to financial burdens and data leakage risks, which can have serious consequences for the organization.

Understanding the AI Readiness Framework

The AI readiness framework is a comprehensive approach to assessing and improving an organization’s ability to adopt and implement AI systems. It involves a series of steps and processes that help organizations prepare for the integration of AI into their operations. The framework is designed to be flexible and adaptable to the unique needs and challenges of each organization.

Key Components of the AI Readiness Framework

Assessment: The first step in the AI readiness framework is to assess the organization’s current state of AI readiness. This involves evaluating the organization’s existing AI capabilities, identifying areas for improvement, and determining the necessary steps to take to achieve AI readiness. Strategy: The next step is to develop a strategy for implementing AI systems. This involves defining the organization’s AI goals and objectives, identifying the key AI technologies and tools to be used, and determining the necessary resources and budget to support the implementation. Implementation: The implementation phase involves putting the AI strategy into action. This includes selecting and deploying AI systems, training employees, and providing ongoing support and maintenance. * Monitoring and Evaluation: The final step is to monitor and evaluate the effectiveness of the AI systems. This involves tracking key performance indicators, identifying areas for improvement, and making adjustments as needed. ## The Role of SAP Rise in AI Readiness**

The Role of SAP Rise in AI Readiness

SAP Rise is a new AI-powered platform that is designed to help organizations achieve AI readiness. The platform provides a range of tools and services that support the development and deployment of AI systems, including data preparation, model training, and model deployment.

Benefits of SAP Rise

Improved Data Quality: SAP Rise provides advanced data preparation capabilities that help organizations prepare their data for AI model training.

The Need for AI Assurance

The UK government has launched an AI assurance platform designed to help enterprises navigate the complexities of artificial intelligence. This move comes as the government recognizes the growing importance of AI in various sectors, including healthcare, finance, and transportation. With AI becoming increasingly prevalent, there is a pressing need for assurance that these systems are functioning as intended and are not causing harm.

Key Features of the AI Assurance Platform

The AI assurance platform is designed to provide enterprises with a comprehensive framework for assessing and mitigating AI-related risks. Some of the key features of the platform include:

Risk assessment tools: The platform provides a range of risk assessment tools that help enterprises identify potential AI-related risks and prioritize mitigation efforts. Compliance monitoring: The platform enables enterprises to monitor their compliance with relevant regulations and standards, ensuring that AI systems are developed and deployed in accordance with industry best practices. AI model validation: The platform provides a framework for validating AI models, ensuring that they are accurate, reliable, and unbiased. * Continuous monitoring: The platform enables enterprises to continuously monitor their AI systems, detecting potential issues and taking corrective action before they become major problems.