A cobot or collaborative robot, also known as a companion robot, is a robot intended for direct human-robot interaction within a shared space or where humans and robots are in close proximity. My design thinking example is about a cobot assisting in the real-time visual inspection in manufacturing done for

SIPOC process mapping can play a crucial role in helping stakeholders identify conceivable risks of non-compliance of AI projects with the EU AI Act by providing a structured framework to analyze the process flow, dependencies and data handling practices. 1. Supplier Identification (S) * Risk Identification: Stakeholders can identify potential risks

What’s the relevance and value of data without process context ? Does data need process context to be relevant and of value to stakeholders ? Do risks depend on how processes are deployed ? Are process maps a prerequisite for any risk assessment of AI systems, product & services development & deployment

The ProcessHorizon web app for AllinOne data & process modeling in SIPOCe notation with instantly auto generated visual process maps as a catalyst for developers, customers and users as well as for organizations and companies. SIPOC data & process flow from source to destination:                                           Supplier > Input > PROCESS >

A stakeholder value model is a framework used by organizations to consider the interests and contributions of all stakeholders involved in or affected by their operations. Implementing a stakeholder value model requires a shift in mindset from a purely profit-driven approach to a more holistic view of business success. Companies

The smart ProcessHorizon web app for Business Professionals & Subject Matter Experts & Domain Experts ProcessHorizon is the smart app for AllinOne process- & data modeling in stakeholder oriented SIPOC notation with auto visual process mapping in support of quality & risk management & compliance as well as governance of

A bank's multi-stakeholder dilemma must be addressed in business model design of how to balance money supply and demand in the best interest of lenders and borrowers as well as of other stakeholders.     Based on three examples I will demonstrate the stakeholder dilemma in total value creation vs.

The integration of the ESG model, i.e. enviromental, social and governancecriteria into a company's business model and process model can be a differentiator for example in the electric car marketaddressing the expectations of environmentally conscious prospective buyers. MP1 Environmental processes PR1 Manufacture vehicle parts using sustainable materials

Energy literacy refers to the understanding and knowledge that individuals possess about energy-related concepts, sources, uses, and impacts. 1. Basic Energy Concepts: Energy literacy involves understanding fundamental concepts such as energy forms (e.g. kinetic, potential, thermal), energy sources (e.g. fossil fuels, renewable energy), energy units (e.g. joules,

Quality is vital for AI model development as well as for deployment of AI products and services in a process context. AI model development depends on data quality whereas AI systems deployment is dependent on process design & process quality. AI model development and AI product and services deployment must

To anyone interested in banking management and governance, risk & compliance (GRC) from a stakeholder point of view, I herewith provide a list of my ProcessHorizon blog posts from March 2023 until May 2024. Real-time monitoring of transactional data for AI-driven banks https://blog.processhorizon.com/ghost/#/editor/post/663dddd038c9865bc20e7063

Financial engineering is a multidisciplinary field that applies mathematical, statistical and computational techniques to solve problems in finance. It involves designing and implementing innovative financial instruments, strategies, and processes to achieve specific financial goals, such as managing risk, optimizing investment portfolios and enhancing returns. 1. Risk Management: Developing methods to

A personal cash flow statement provides an overview of the cash inflows and outflows over a specific period, usually monthly or annually. It helps individuals understand how much cash is being generated and where it is being spent, aiding in budgeting and financial planning. Cash Inflows 1. Salary and Wages

A personal life income statement, also known as a personal income and expense statement, summarizes an individual's financial performance over a specific period (usually monthly or annually). It includes revenues (income) and costs (expenses). Revenues (Income) 1. Salary and Wages * Gross salary from employment * Bonuses * Overtime pay * Commissions

A personal life balance sheet is a financial statement that summarizes an individual's financial position at a given point in time. It includes three main components: assets, liabilities and equity. Assets (savings & property) 1. Current Assets * Cash and Cash Equivalents: * Cash on hand * Checking accounts * Savings accounts

Eine Einheitskrankenkasse mit einheitlichen Prozessen bietet zahlreiche Potenziale für den Einsatz von Künstlicher Intelligenz (KI), die sowohl die Effizienz des Systems erhöhen als auch die Qualität der Gesundheitsversorgung verbessern können. 1. Datenanalyse und Prävention * Großflächige Gesundheitsdatenanalyse: KI kann große Mengen an Gesundheitsdaten analysieren, um Muster und Trends zu erkennen. Diese

To ensure compliance with the EU Artificial Intelligence Act (EU AI Act), organizations need to implement several processes, practices and governance structures. These processes are designed to meet the requirements laid out in the act and to ensure that AI systems are developed, deployed and operated in a way that

Transparency in AI products & services is essential to promote trust, accountability and ethical use of AI technologies. To identify and assess potential risks from the deployment of AI algorithms in AI products and service, it is vital to understand its process context. A SIPOC (Suppliers > Inputs > Process

The pervasive use of AI agents in the banking ecosystems poses new risks to banks as for example financial losses by erroneous algorithms, compliance violations by incorrect transactions, data integrity issues, operational disruptions, reputational damage and legal & regulatory consequences. To prevent errors compounding in a short time, ongoing automated

Providing regulators with dynamic access to relevant data and analytics tools to support their oversight activities in an AI-driven financial services universe can offer material benefits and cost savings to banks and regulatory bodies. Benefits & cost savings to Financial Institutions 1. Enhanced Regulatory Compliance: By providing regulators with access

AI both poses challenges and offers opportunities for media literacy. Educating individuals to navigate and critically engage with AI-mediated media environments is essential for fostering informed and responsible media consumption and production. 1. Filtering and Recommendation Algorithms: AI-powered algorithms determine what content users see on social media platforms, search engines

On top of a bank's holistic risk management as outlined in my SIPOC process map, several regulative measures could be implemented to help prevent future bank failures. 1. Enhanced Capital Requirements: Regulators can mandate higher capital adequacy ratios for banks, ensuring they have sufficient capital buffers to absorb

A SIPOC (Suppliers > Inputs > Process > Outputs > Customers) process model with a SIPOC process map is particularly valuable as an enabler for transformational AI change projects, especially when developing and deploying new AI products or services. 1. Clarity and Scope Definition                                                                                   The SIPOC model helps provide a

A responsible and sustainable banking strategy should be reflected in an inclusive business model and enacted by stakeholder oriented business processes. 1. Ethical Banking Practices * Implement strict ethical guidelines for all banking activities, including lending, investments and financial products. * Avoid investments in industries or companies that harm the environment, violate

An agency model for AI products & services involves the structure and processes by which an organization delivers and manages its artificial intelligence offerings. Safeguarding human agency in the age of AI involves implementing measures and strategies as well as a stakeholder oriented SIPOC process model to ensure that individuals