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The Future of Risk, the Rise of AI and the Role of Human Capability - Part 1

Organisations, employees, contractors, including risk professionals, face a turbulent future impacted by new digital technologies such as artificial intelligence, global connectivity, big data and robotics. This future is here now. It brings change at a continuously accelerating pace and presents many risks and challenges, but also affords great opportunities.

The authors present a model for describing this risk and challenge in the form of a ‘turbulent environment heat map’ and a strategy to manage it. They introduce a model of capability and show how it can be used to develop a response that involves ‘magnifying the impact of human brains’ as an essential component for working successfully with AI. They consider the impact of current trends on the ‘future of risk’, its main characteristics and discuss its impact on the risk function.

The Future of Risk, the Rise of AI and the Role of Human Capability - Part 1 and Part 2
Capability - The Driver of Success

A presentation on the importance of capability, from performance to change, to agility and to strategy execution. It describes how capability can be used as unifying model and methodology, applicable across the board from Performance to Strategy.

Capability is an effective means of approaching, addressing and succeeding with the challenges and risks associated with the digital revolution and the Fourth Industrial Revolution.

Capability Institute - Purpose

A single page document outlining the Capability Institute purpose and philosophy.

It also contains a brief description of what we do and how we do it, some references and summary information on Paul Guignard.

Capability - The Foundation of Business Performance

The capability model has three important characteristics: a) It has features derived from the way organisations succeed in competitive markets, b) It is in line with contemporary management practice as it has evolved in the past decades, and c) It has been successfully tested over three years in an Australian mining company.

Capability was found to correlate very strongly with performance measured with a comprehensive set of KPIs, making it of significant business importance.

The Impact of Capability on Performance - Experimental Evidence

The impact of capability on performance was tracked over thirteen quarters in a mining organisation. Because of internal circumstances associated with a change of management and business conditions, the data could be separated into two sets, one during which an active initiative programme was taking place, guided by the capability and KPI measurements, and one without an active improvement program.  For both datasets, performance was found to correlate strongly with capability . The correlation held when capability increased very significantly through the application of initiatives, most aimed at improving capability and some at improving performance. When no initiatives were successfully implemented both capability and performance decreased sharply.

Meeting APRA's requirements re culture, values and behaviours

We look at APRA’s requirements as expressed in the Prudential Standard CPS-220 and its associated guide, and consider how capability provides a strong platform to regulated institutions for meeting these requirements.