No one is perfect -a lesson from History

Historic picture; important lessons: 1986 world cup photo of Maradona, Pele, and Platini.  

 At that time Maradona campaigned against drugs. Platini against corruption. Pele stood for the rights of the children.  

As time passed by.  Maradona became a drug addict. 

Platini was banned from the football administration for corruption.  

Pele refused to accept his biological daughter Sandra Regina Arantes, who was born as the result of his affair with a housemaid (in 1964). Arantes filed a lawsuit against Pele. 

She won the case with DNA test results and later wrote a book, "The Daughter the King Did Not Want", that described her mother’s affair. 

Two important lessons:  

1) Nobody is perfect;  

2) Appearances can be deceptive. Excellent message to imbibe about people👌

Adding value through 360-degree performance feedback

 

●     Provide a more comprehensive and balanced view of an employee's strengths and weaknesses, which can help them improve their self-awareness and performance.

●     Increased communication and collaboration within the team and the organization, which can enhance trust, respect, and teamwork.

●     Foster employees development and potential by identifying areas for improvement and creating personalized action plans.

●     Morale and motivation boost by recognizing achievements and encouraging feedback culture.

Also to be considered:

How often?

There is no definitive answer to how often you should conduct 360-degree feedback, as it depends on your goals, context, and resources. However, some general guidelines are:

●     360-degree feedback should be conducted from the beginning and preferably every quarter helping employees develop, and management to motivate and support their teams

●     360-degree feedback should not be treated as a performance review, but as a learning opportunity to improve self-awareness and relationships

●     360-degree feedback should be aligned with the competencies, behaviours, and values that are relevant for the job role.

●     360-degree feedback should be anonymous, confidential, and constructive, and follow a structured process that involves preparation, feedback collection, feedback delivery, and action planning.

Cons?

●     It can be time-consuming and resource-intensive to design, implement, and analyse the feedback from various sources

●     It can be overwhelming and demoralizing for the employee to receive too much or too negative feedback, especially if it is not constructive or aligned with their self-perception.

●     It can be influenced by biases, dishonesty, or personal agendas of the feedback providers, which can affect the validity and reliability of the feedback¹

●     It can cause resentment, conflict, or distrust among the feedback providers and receivers, especially if the feedback is not anonymous, confidential, or respectful.

Therefore, 360-degree performance feedback should be used with caution and care, and only as part of a broader and ongoing performance management system. It should also follow some best practices, such as:

●     Aligning the feedback with the relevant competencies, behaviours, and values for the job role

●     Preparing the feedback providers and receivers for the process and the purpose of the feedback

●     Collecting the feedback from multiple and credible sources, using a mix of quantitative and qualitative methods

●     Delivering the feedback in a timely, constructive, and supportive manner, and providing guidance and resources for action planning and follow-up

 

Step One towards improving productivity in Shared Service Centers - RPA?

RPA  is a technology that uses software robots or process mining to automate repetitive, rule-based rudimentary tasks. This can improve productivity by freeing up human workers from mundane and error-prone activities, and allowing them to focus on more creative, strategic, and value-added tasks. RPA can also increase accuracy, speed, scalability, economics and compliance of business processes.

It helps in overcoming the productivity paradox, which is the phenomenon of declining productivity growth despite increasing investment in technology in Shared Service Centers and BPOs. RPA can do this by streamlining workflows, integrating disparate systems, and reducing complexity and waste. RPA can also provide faster return on investment and lower costs than traditional IT solutions².

Some typical examples of RPA applications are:

- Data entry and validation

- Invoice processing and reconciliation

- Customer service and support

- Report generation and analysis

- Email and chatbot automation

- Web scraping and data extraction

It requires careful planning, design, implementation, and maintenance to ensure optimal results. There are  some limitations, such as:

- It cannot handle complex or unstructured data

- Socio-cultural understanding

- It cannot perform tasks that require human judgment, creativity, or empathy

- It may face ethical, legal, or security challenges

- It may encounter technical issues or compatibility problems

RPA should be seen as complementary rather than a replacement for human workers. It can only augment human capabilities and enhance productivity, but it cannot replace the human touch and intelligence that are essential for business success.

to be continued with RPA implementation must know points....

What is Godmode shortcut in win 10 and 11

 How to enable GodMode windows 10?

GodMode is a hidden feature in Windows 10 that allows you to access more than 200 tools and settings in one place. To enable GodMode, you need to create a special folder on your desktop and name it with a specific code. Here are the steps to do it:

●     Right-click on the desktop and select New > Folder.

●     Rename the folder as GodMode.{ED7BA470-8E54-465E-825C-99712043E01C} and press Enter. You can also use any name you want instead of GodMode, as long as you keep the code after the dot.

●     The folder icon will change to a Control Panel icon. Double-click it to open GodMode and see the list of tools and settings.

You can also create a shortcut to GodMode by right-clicking on the folder and selecting Create shortcut. You can then move the shortcut to any location you want, such as the Start menu or the taskbar.

Source(s)

1. How to enable the legendary 'God Mode' in Windows 10 for all the ...

2. How to Enable God Mode in Windows 10 - groovyPost

3. How to Activate God Mode in Windows 10 and Windows 11

4. How to enable God Mode in Windows 10 | Tom's Guide

5. How to Enable and Use God Mode in Windows 10 - iSunshare

 What are some useful tools in GodMode?

GodMode is a hidden feature in Windows 10 that allows you to access more than 200 tools and settings in one place. Some of the useful tools you can find in GodMode are:

●     Administrative Tools: This category contains various system management and configuration utilities, such as Task Scheduler, Event Viewer, Disk Cleanup, and Performance Monitor.

●     Backup and Restore: This category lets you create and restore backups of your files and system settings, as well as create a system repair disc or a system image.

●     Devices and Printers: This category lets you manage and troubleshoot your connected devices and printers, as well as change their settings and preferences.

●     Ease of Access Center: This category lets you customize your Windows experience for your vision, hearing, and mobility needs, such as changing the font size, contrast, cursor, and keyboard settings, or using the narrator, magnifier, or speech recognition features.

●     File History: This category lets you turn on and configure File History, a feature that automatically backs up your personal files to an external drive or a network location.

●     Security and Maintenance: This category lets you view and adjust your security and maintenance settings, such as Windows Defender, firewall, user account control, and troubleshooters.

●     System: This category lets you view and change your system information and settings, such as device name, processor, memory, activation, and advanced system settings.

You can also create shortcuts to any of these tools by right-clicking on them and selecting Create shortcut. You can then move the shortcut to any location you want, such as the Start menu or the taskbar.

Source(s)

1. How to Activate GodMode in Windows 11, 10, 8 & 7 - Lifewire

2. What Is the "God Mode" Folder in Windows 10, and How Do I Enable It?

3. Future Tools - Godmode

4. How to Activate God Mode on Windows 11 - How-To Geek

 

What is the difference between GodMode and Control Panel?

GodMode and Control Panel are both ways to access various tools and settings in Windows. However, GodMode is a hidden feature that shows more than 200 items in one place, while Control Panel is a default app that has fewer items and is organized into categories. GodMode is also a special folder that you can create and rename, while Control Panel is a fixed app that you can launch from the Start menu or the Power User menu. To enable GodMode, you need to create a folder with a specific code as its name.

Source(s)

1. How to Use God Mode or Master Control Panel in Windows 10?

2. God Mode in Windows 11 vs. Windows 10 vs. Windows 7

3. What’s the difference between God Mode and Control... | Fishbowl

Some more suggestions for you to make the most of GodMode on Windows 10. Here are some tips and tricks you can try:

·         You can pin GodMode to your taskbar for easy access. Just right-click on the GodMode folder and select Pin to taskbar. You can also drag and drop it to the taskbar.

 

·         You can rename GodMode to anything you want, as long as you keep the code after the dot. For example, you can name it SuperSettings.{ED7BA470-8E54-465E-825C-99712043E01C} or MasterControl.{ED7BA470-8E54-465E-825C-99712043E01C}. The folder icon will still change to a Control Panel icon.

 

·         You can use the search box at the top-right corner of the GodMode window to quickly find the setting you need. Just type a keyword and press Enter. You can also use the Sort by option to arrange the items by name, date, type, or size.

Risks

There are some potential risks associated with using GodMode on Windows 10. For example:

●     GodMode may expose some settings that are not intended for regular users, and changing them may cause system instability or errors.

●     GodMode may be exploited by malware or hackers to gain persistence or control over your PC, by creating a hidden folder that is difficult to delete or detect.

●     GodMode may not work properly with some updates or versions of Windows 10, and may cause the folder to have no name or icon, or to disappear altogether.

Therefore, you should use GodMode with caution and only if you are confident about what you are doing. You should also have a reliable antivirus software and backup solution to protect your PC from any threats or damages.

Source(s)

1. Windows ‘God Mode’ May Be the Answer to Malware’s Prayers

2. Enable Windows 10 God Mode: How Windows god mode works - IONOS

3. Windows 11 God Mode And How To Enable It, Explained - Screen Rant

The AI Paradox

The AI Paradox is a term that refers to the contrast between the impressive achievements of AI in some domains and the challenges it faces in others. For example, AI can drive cars, play games, and translate languages, but it still struggles with common sense, creativity, and empathy. 

Some people argue that AI will eventually surpass human intelligence and capabilities, while others contend that AI is fundamentally limited by the data and algorithms that humans provide.

One of the main issues that the AI Paradox raises is the need for human skills and values to guide the development and use of AI. These include critical thinking, ethical reasoning, collaboration, and communication. 

As AI becomes more pervasive and influential in society, it is important that humans remain in control and accountable for its outcomes.

Moreover, humans need to ensure that AI is aligned with their goals and values, and that it respects the rights and dignity of all stakeholders.

 

How automation can add value to SSC?

 Automation can add value to SSC by enhancing efficiency, quality, and innovation of the services provided. Some of the benefits of automation are:

●     Reducing manual errors and rework, improving accuracy and compliance

●     Increasing speed and throughput, reducing cycle times and costs

●     Enabling scalability and flexibility, adapting to changing demands and volumes

●     Freeing up staff from repetitive tasks, allowing them to focus on higher-value activities

●     Providing data and insights, supporting better decision making and performance improvement

●     Driving continuous improvement and innovation, creating new opportunities and value propositions

Automation can be applied to various processes and functions within an SSC, such as finance, accounting, HR, procurement, and IT. Some examples of automation technologies are:

●     Robotic process automation (RPA), which uses software bots to mimic human actions and execute rule-based tasks

●     Intelligent automation (IA), which combines RPA with artificial intelligence (AI) and machine learning (ML) to handle more complex and cognitive tasks

●     Business process management (BPM), which uses software tools to model, monitor, and optimize end-to-end processes

●     Optical character recognition (OCR), which converts scanned or printed documents into digital data

●     Natural language processing (NLP), which enables machines to understand and generate natural language

To successfully implement automation in an SSC, some best practices are:

●     Assessing the current state and identifying the automation potential of the processes and functions

●     Developing a clear and realistic automation strategy and roadmap, aligned with the SSC vision and goals

●     Selecting the right automation technology and vendor, based on the requirements and capabilities of the SSC

●     Establishing a governance and change management framework, involving stakeholders and managing risks and expectations

●     Building a skilled and agile workforce, providing training and support for the staff and the customers

●     Measuring and communicating the value and impact of automation, using relevant metrics and feedback

Source(s)

1. Automation - benefits and costs - Economics Help

2. 3 Ways to Show How Valuable Shared Services Can Be - Gartner

3. Why It’s Time To Rethink The Value Of Shared Services Centers - Forbes

4. 3 Ways to Show How Valuable Shared Services Can Be - Gartner

5. Why It’s Time To Rethink The Value Of Shared Services Centers - Forbes

6. Automation - benefits and costs - Economics Help

 

How to add value to shared service center as a leadership

 

A shared service centre (SSC) is a unit that provides standardized and centralized services to other units within an organization, such as finance, human resources, IT, or procurement. SSCs can help reduce costs, improve efficiency, and enhance quality of service delivery. However, SSCs also face challenges such as customer satisfaction, innovation, and value creation 

●     Building a foundation of value with reliable, low-cost services and simplifying the customer experience

●     Providing insights and analytics that help your business partners improve their performance and decision making

●     Enriching your team's understanding of the business and the processes they support

●     Articulating your service from every viewpoint and communicating your value proposition effectively

●     Building up subject matter experts and promoting continuous improvement and innovation

●     Fostering a culture of trust, collaboration, and empowerment between the SSC and the customers

●     Leveraging technology and automation to optimize your service delivery and enhance your capabilities

 

Make feedback purposeful

 I agree with that collecting feedback regularly and consistently is a key aspect of using feedback effectively. Feedback is a valuable source of information that can help us improve our work and meet our clients' expectations. By asking for feedback throughout the project, we can make sure that we are on the right track, and that we are addressing any potential problems or misunderstandings as soon as possible. This way, we can avoid wasting time and resources on work that does not meet the client's needs or standards. Additionally, by collecting feedback regularly, we can show our clients that we value their input and that we are committed to delivering high-quality work that satisfies their goals and preferences. This can help us build trust and rapport with our clients, and increase their satisfaction and loyalty. Therefore, I think that collecting feedback regularly and consistently is a good practice that can benefit both us and our clients..

Benefits of consuming raw / green papaya

Raw papaya is a nutritious fruit that has many health benefits. Some of the benefits of eating raw papaya are:

●     It helps you lose weight by breaking down fats and carbohydrates with its enzymes papain and chymopapain^{1 2}.

●     It reduces blood glucose levels and improves insulin sensitivity in people with diabetes by regenerating beta cells and increasing insulin synthesis^{2 3}.

●     It improves digestion and prevents constipation by providing fiber and laxative properties^{1 2}.

●     It fights free radicals and oxidative stress with its antioxidants, especially lycopene, which can also prevent cancer and cardiovascular diseases^{2 3 4}.

●     It boosts your immune system and prevents infections with its vitamin C and beta-carotene content^{1 2}.

●     It heals wounds faster and reduces inflammation with its protease enzymes and anti-inflammatory compounds^{2 5}.

●     It prevents vitamin deficiency and improves your skin and eye health with its vitamin A and carotenoids^{1 2}.

●     It controls menstrual irregularities and relieves pain with its emollient and diuretic properties^{1 2}.

If you want to learn more about the benefits of eating raw papaya, you can check out these resources:

●     [8 Health Benefits of Raw Papaya You Should Know About]([object Object]): A comprehensive guide by TheHealthSite.com that covers different types of benefits, best practices, and strategies for eating raw papaya.

●     [8 Evidence-Based Health Benefits of Papaya]([object Object]): A helpful article by Healthline that explains the role of papaya, the nutrients it contains, and the evidence behind its benefits.

●     [6 Surprising Health Benefits Of Raw Papaya You Didn't Know]([object Object]): A practical article by NDTV Food that provides tips and examples on how to eat raw papaya and enjoy its benefits.

Source(s)

1. How beneficial is eating papaya?

2. 8 Health Benefits of Raw Papaya You Should Know About

3. 8 Evidence-Based Health Benefits of Papaya

4. 6 Surprising Health Benefits Of Raw Papaya You Didn't Know

5. 8 benefits of eating raw or green papaya - DNA India

6. How beneficial is eating papaya?

7. 8 Health Benefits of Raw Papaya You Should Know About

8. 6 Surprising Health Benefits Of Raw Papaya You Didn't Know

9. Papaya fruit: Health benefits, uses, and risks - Medical News Today

10. https://microsoftstart.msn.com/

 

Digital delivery - post pandemic - challanges

 Digital delivery, or the provision of goods and services through online platforms, has been one of the most significant trends in the COVID-19 pandemic and its aftermath. According to various sources, the pandemic has accelerated the digital transformation and e-commerce growth by several years, as consumers and businesses have shifted to online channels for shopping, entertainment, education, health care, and more^{1 2}.

Digital delivery has many benefits, such as convenience, efficiency, cost savings, and innovation. It also has some challenges, such as ensuring quality, security, privacy, and fairness. Moreover, digital delivery has implications for various stakeholders, such as consumers, businesses, workers, regulators, and society at large.

Some of the questions that digital delivery raises are:

●     How can consumers trust the quality and safety of the goods and services they receive online?

●     How can businesses adapt to the changing consumer preferences and expectations, and leverage the opportunities of digital delivery?

●     How can workers acquire the skills and competencies needed for the digital economy, and protect their rights and well-being?

●     How can regulators balance the need for innovation and competition with the need for consumer protection and social responsibility?

●     How can society ensure that digital delivery is inclusive, accessible, and sustainable, and does not widen the digital divide or exacerbate inequalities?

These are some of the issues that need to be addressed and discussed in the context of digital delivery in the corona times and ever after. Digital delivery is not only a technological phenomenon, but also a social and economic one, that requires a holistic and collaborative approach from all stakeholders.

 

How to create a fair, transparent and objective performance management system?

 

Some points on how to create a fair, transparent, and objective performance management system for BPO employees. Agree that these are important aspects of a good system, and here are some more details and examples based on my knowledge and research.

●     Define clear and relevant performance criteria. Performance criteria are the standards and indicators that measure the quality and quantity of the BPO employees' work. They should be clear, relevant, and aligned with the objectives and key results (OKRs) of each BPO process and role. For example, if the OKR of a customer service representative is to increase customer satisfaction and retention, the performance criteria could include the number of calls handled, the average call duration, the customer feedback score, and the resolution rate.

●     Use multiple and balanced sources of feedback. Feedback is the information and opinions that the BPO employees receive about their performance from various sources, such as self-assessment, peer review, manager review, and client feedback. Using multiple and balanced sources of feedback can help to reduce bias, increase accuracy, and provide a holistic view of the performance. For example, a manager review can provide guidance and direction, a peer review can provide support and collaboration, a self-assessment can provide reflection and improvement, and a client feedback can provide validation and appreciation.

●     Provide timely and constructive feedback. Feedback should be given in a timely manner, meaning that it is given as soon as possible after the performance is observed or measured, to ensure relevance and accuracy. Feedback should also be constructive, meaning that it focuses on the behaviours and outcomes, not the personality or character of the employee. Feedback should also be specific, actionable, and positive, meaning that it identifies the strengths, weaknesses, opportunities, and areas for improvement, and provides suggestions and recognition.

●     Involve your employees in the performance management process. Employees should be involved in the performance management process, as it can increase their engagement, motivation, and ownership of their work. Employees should be involved in setting and agreeing on the OKRs, the performance criteria, and the feedback sources. Employees should also be involved in reviewing and discussing their performance, and in creating and implementing their development plans.

●     Align performance management with rewards and recognition. Rewards and recognition are the incentives and acknowledgements that the BPO employees receive for their performance. They should be aligned with the OKRs and the performance criteria, and should be consistent and fair across the BPO processes and roles. Rewards and recognition can be monetary or non-monetary, formal or informal, individual or team-based, depending on the preferences and needs of the employees. For example, monetary rewards can include bonuses, commissions, or salary increases, while non-monetary rewards can include certificates, trophies, or vouchers. Formal recognition can include performance appraisals, promotions, or awards, while informal recognition can include thank-you notes, praise, or feedback.

●     Review and improve your performance management system. A performance management system should be reviewed and improved regularly, to ensure that it is effective, efficient, and adaptable. A performance management system should be reviewed by collecting and analyzing data and feedback from the BPO employees, managers, clients, and other stakeholders. A performance management system should be improved by identifying and implementing the best practices, innovations, and solutions that can enhance the performance of the BPO employees and the organization.

I hope this helps you to create a fair, transparent, and objective performance management system for BPO employees.Questions or feedback are always welcome.

 

 

Measuring the effectiveness of a performance management system

 Measuring the effectiveness of a performance management system is a way of assessing how well the system is achieving its intended goals and outcomes, such as improving employee performance, engagement, and satisfaction. There are different methods and metrics that can be used to measure the effectiveness of a performance management system, depending on the specific objectives and context of the organization. Here are some possible steps and techniques that you can follow to measure the effectiveness of a performance management system:

●     Define the objectives and key results (OKRs) of the performance management system. OKRs are a popular method of setting and measuring goals that align with the organization's vision and strategy¹. They help to clarify expectations, track progress, and provide feedback. OKRs should be SMART (specific, measurable, achievable, relevant, and time-bound) and agreed upon by both the managers and the employees.

●     Establish a regular and consistent performance review cycle. A performance review cycle is the frequency and format of evaluating and communicating the performance of the employees. It can include self-assessment, peer review, manager review, and client feedback. A performance review cycle should be conducted at least quarterly, or more often depending on the nature and complexity of the work². The performance review cycle should also be transparent and objective, meaning that the criteria, methods, and outcomes of the evaluation are clear and fair to all parties involved.

●     Provide constructive and timely feedback. Feedback is an essential component of performance management, as it helps to identify strengths, weaknesses, opportunities, and areas for improvement. Feedback should be given in a constructive and respectful manner, focusing on the behaviors and outcomes, not the personality or character of the employee. Feedback should also be timely, meaning that it is given as soon as possible after the performance is observed or measured, to ensure relevance and accuracy³.

●     Recognize and reward high performance. Recognition and reward are powerful motivators for employees, as they show appreciation and acknowledgement for their efforts and achievements. Recognition and reward can be monetary or non-monetary, formal or informal, individual or team-based, depending on the preferences and needs of the employees. Recognition and reward should be aligned with the OKRs and the performance review cycle, and should be consistent and fair across the work processes and roles⁴.

●     Review and improve the performance management system. A performance management system should be reviewed and improved regularly, to ensure that it is effective, efficient, and adaptable. A performance management system should be reviewed by collecting and analysing data and feedback from the employees, managers, clients, and other stakeholders. A performance management system should be improved by identifying and implementing the best practices, innovations, and solutions that can enhance the performance of the employees and the organization².

I hope this helps you to understand how to measure the effectiveness of a performance management system.

 

Creating a Fair Performance Management System

https://www.linkedin.com/posts/abbyaskkisingh_creating-a-fair-performance-management-system-activity-7138855917067948032-wnCX?utm_source=share&utm_medium=member_desktop 

AI applications examples

 

AI applications examples are:

●     AI-powered robots that can perform various tasks and interact with humans, such as Roomba, Sophia, Pepper, and NAO^{1 2}.

●     AI-powered assistants that can help users with various queries and tasks, such as ChatGPT, Bing, Google Assistant, Siri, Alexa, and Cortana³.

●     AI-powered photo editing apps that can enhance, filter, or transform images, such as Lensa, Prisma, FaceApp, and Snapseed³.

●     AI-powered navigation apps that can provide directions, traffic information, and alternative routes, such as Google Maps, Waze, and Uber³.

●     AI-powered education apps that can provide personalized learning, tutoring, and feedback, such as Duolingo, Socratic, Quizlet, and Khan Academy³.

●     AI-powered lifestyle apps that can help users with fitness, health, wellness, and entertainment, such as Fitbit, Headspace, Spotify, and Netflix³.

●     AI-powered gaming apps that can create immersive and realistic experiences, such as Pokemon Go, Minecraft, Fortnite, and Call of Duty³.

●     AI-powered social media apps that can help users connect, communicate, and share content, such as Facebook, Instagram, Twitter, and TikTok³.

●     AI-powered e-commerce apps that can provide personalized recommendations, chatbots, and fraud prevention, such as Amazon, Flipkart, eBay, and Shopify².

●     AI-powered healthcare apps that can provide diagnosis, treatment, monitoring, and management, such as Ada, Babylon, Medtronic, and IBM Watson².

●     AI-powered finance apps that can provide automated investing, trading, banking, and insurance, such as Wealthfront, Robinhood, PayPal, and Lemonade².

●     AI-powered travel apps that can provide virtual booking, planning, and assistance, such as Expedia, Airbnb, Tripadvisor, and Skyscanner².

●     AI-powered cybersecurity apps that can provide protection, detection, and response, such as Darktrace, CrowdStrike, Norton, and McAfee².

●     AI-powered marketing apps that can provide analytics, optimization, and personalization, such as HubSpot, Salesforce, Mailchimp, and Hootsuite².

●     AI-powered manufacturing apps that can provide automation, quality control, and optimization, such as Siemens, GE, Bosch, and ABB².

●     AI-powered agriculture apps that can provide crop monitoring, pest control, and yield prediction, such as FarmLogs, CropX, AgroStar, and The Climate Corporation².

●     AI-powered energy apps that can provide smart grid, demand response, and renewable energy, such as Google DeepMind, AutoGrid, Stem, and Enel².

●     AI-powered space apps that can provide exploration, discovery, and communication, such as NASA, SpaceX, Blue Origin, and Virgin Galactic².

Source(s)

1. 37 Artificial Intelligence Examples to Know for 2023 | Built In

2. AI Applications: Top 18 Artificial Intelligence Applications in 2024

3. 25 Top Artificial Intelligence (AI) Apps | Built In

 

What are some challenges of AI applications

 

Some of the challenges of AI applications are:

●     Lack of understanding: AI is still a relatively new field, and there is much we have yet to comprehend about its inner workings. This lack of understanding can impede the development of reliable and accurate AI systems. To address this challenge, companies can invest in research and development efforts to advance the understanding of AI algorithms, models, and techniques².

●     Data quality and availability: An inherent problem with AI systems is that they are only as good – or as bad – as the data they are trained on. Bad data is often laced with racial, gender, communal or ethnic biases. This can lead to unfair or discriminatory outcomes for certain groups of people. Moreover, some domains may lack sufficient or relevant data to train AI systems effectively. To address this challenge, companies can ensure that their data is diverse, representative, and unbiased. They can also use techniques such as data augmentation, synthetic data generation, and transfer learning to overcome data scarcity or limitations⁴.

●     Ethical, legal, and social issues: AI systems can raise various ethical, legal, and social issues that require careful consideration and regulation. For example, AI systems can pose risks and challenges for human rights, privacy, security, democracy, and social justice. They can also create moral dilemmas, such as who is responsible or liable for the actions and impacts of AI systems. To address this challenge, companies can adopt ethical principles and values that guide the design, development, and deployment of AI systems. They can also participate in the governance and regulation of AI, as well as hold AI systems and their creators accountable for their actions and impacts^{2 3}.

●     Skills gap and talent shortage: AI and emerging technologies are creating new opportunities and challenges for education and skills development. As AI automates many tasks and jobs, especially those that are routine and repetitive, the demand for higher-order cognitive and socio-emotional skills will increase. These skills include critical thinking, creativity, communication, collaboration, and emotional intelligence. They also include digital skills, such as coding, data analysis, and AI literacy. To address this challenge, companies can invest in upskilling and reskilling their workforce to prepare them for the future of work and learning. They can also collaborate with educational institutions and other stakeholders to foster a culture of lifelong learning and innovation^{2 3}.

Source(s)

1. Top 10 Challenges In Artificial Intelligence In 2023 - Dataconomy

2. Artificial Intelligence: Key challenges and opportunities - Forbes India

3. Top 10 AI Development and Implementation Challenges

4. Challenges of using artificial intelligence | Deloitte US

 

How to Invest in Fundamentally Strong Penny Stocks in the Indian Stock Market? You must know...

 "How to Invest in Fundamentally Strong Penny Stocks in the Indian Stock Market" is a question that asks for some guidance on how to buy and sell low-priced stocks that have good financial performance and prospects in India.

Some possible steps to answer this question are:

●     What is a fundamentally strong penny stocks are and why they are attractive investments?

●     Key ratios and metrics to look for when selecting penny stocks, such as PE ratio, PB ratio, ROCE, RoE, quarterly earnings, and stock volatility.

●     Importance of doing research and analysis, and consulting a financial advisor before investing in penny stocks.

●     Sources and links for more information and resources on penny stocks in India.

Fundamentally strong penny stocks are ultra low-priced stocks that have a decent market capitalization, sustainable annual earnings growth, and a price-to-earnings ratio and the debt-to-equity ratio in a secure range. They are attractive investments because they can offer high returns and growth potential, if they have good fundamentals, strong business prospects, and positive market sentiment.

To invest in fundamentally strong penny stocks in the Indian stock market, you need to look for some key ratios and metrics that reflect the health and performance of the stock, such as:

●     PE Ratio: This ratio indicates the stock’s price with the company’s earnings per share. A low PE Ratio between the range of 20-25 is considered ideal as it implies the stock price is cheap and has the potential to rise in the coming future.

●     PB Ratio: This ratio compares a stock’s current price with the book value of the company. It serves as an indicator to determine if the company’s stock price justifies the value of the company’s balance sheet. A PB Ratio of anywhere between 1 to 3 is considered decent.

●     Return on Capital Employed (ROCE): This is a yardstick used to evaluate if the company is using its capital employed efficiently and is able to generate superior returns. ROCE measures a company’s profitability and generally, a ROCE of above 20% is considered good.

●     Return on Equity (RoE): This is an important benchmark to consider to evaluate if a penny stock is fundamentally strong since RoE shows what value of returns investors and shareholders are able to get on their investment. In general terms, RoE above 20% is considered decent.

●     Quarterly Earnings: For a penny stock to be called fundamentally strong, its quarterly earnings serve as a point of reference to gauge the prospects of profitability and stability of the stock.

●     Stock Volatility: A penny stock that is volatile indicates investors’ interest in trading in the specific company’s shares. Typically, penny stocks are illiquid and experience very low trading volumes. A volatile stock that is actively traded is of more preference compared to stocks in which investors have very limited interest.

For more information and resources on penny stocks in India, you can visit the following links:

●     [Best Penny Stocks To Buy Now In India December 2023 - Forbes]

●     [20 Best Penny Stocks to Buy now in India! [2023] - Growwithmoney]

●     [Fundamentally good Penny stock - Screener])

Source(s)

1. Top 8 Fundamentally Strong Penny Stocks of 2023 - Forbes

2. Best Penny Stocks To Buy Now In India December 2023

3. Penny Stocks In India Below INR 1 - Forbes

4. Top 8 Fundamentally Strong Penny Stocks of 2023 - Forbes

5. Best Penny Stocks To Buy Now In India December 2023

6. Penny Stocks In India Below INR 1 - Forbes

7. Fundamentally good Penny stock - Screener

8. 20 Best Penny Stocks to Buy now in India! [2023] - Growwithmoney