Introduction
As stated in the previous document that was addressed to the CIO, there are certain strategies that have been set in place in order to ensure that the new project can successfully be attained. However, it is also important to reiterate some of the resources that might be utilized in realizing the project, and they include IT contractors whose job is to create the specialized system, project managers, and training and implementation resources that are recommended by Connelly et al., (2016). Therefore, after undertaking a thorough research and considering the needs of the company, the best change management pattern for NedTech would be to employ a strategic thinking team, a functional consultant/business analyst team, and an operations team. Consequently, it is crucial to funnel resources towards these elements to ensure a successful transition and adoption process (Basu, 2015).
Identification of Changes
Some of the potential changes in the information system include the integration of artificial intelligence in these systems, such that most of the processes are automated. Via the utilization of AI, the system can exhibit intelligent behavior, provide solutions to complex issues, and further make the system more resilient and robust. For instance, in the future, instead of verifying and validating each user request manually, the AI would be able to ascertain whether the request is secure and is from an authorized source and thus provide access based on set security parameters. This automates the verification process and eliminates the manual process of verification; ergo, convenience for both customers and organization members. In addition, AI can be used to monitor changes in financial systems and thus undertake an automated recommendation for investments for clients. Simply, the possibilities are endless with the inclusion of AI. Similarly, another predicted change is the expansion of the capabilities and capacities of the system to act as the knowledge base of the organization. In this case, the clients, as well as the employees, would be capable of accessing the knowledge base, which would act as the library of the organization. This ensures that information is freely shared, and via the integration of blockchain technologies, it can be easily traced as it is transferred from one location to another.
Delegate your assignment to our experts and they will do the rest.
One of the major competitive advantages of such an information system with AI is the automation of manual processes, thus the elimination of redundant verification processes (Artificial Intelligence is Changing the Information Technology Sector, 2018). This, in turn, saves time and money for the organization. Besides, the inclusion of AI makes it highly secure and impenetrable as a result of the ability to use highly secure encryptions. In the second predicted change, which is the expansion of capacities to make it a knowledge base, it would ensure that there is a free and seamless transfer of knowledge and information within and outside the organization. All these give the company a competitive edge in the industry.
The ability to undertake such changes in the system ensures that it is sustainable and comparable to industry changes because blockchain and AI are technologies that are yet to be harnessed by the financial industry in a robust and comprehensive manner and are thus anticipated to be future-proof as the industry slowly understands the role of AI in gaining a competitive edge. Because it is still a novelty in the industry, the changes ensure its sustainability in the future. Besides, the new system would be flexible enough to change according to the needs of the organization. This would be the initial step to adapting the system to change as it would initially entail the reconnaissance of the dynamic needs of the organization and thus changing the system accordingly.
Fig. 1 AI & Blockchain (Crypto World Greece)
Product Offerings
The information system addresses the introduction of each new product offerings because it is highly flexible and dynamic and hence changes according to the organization’s needs. This has been ensured as the architecture of the platform is in such a way that it is highly customizable to the organization’s needs, and the changes can be made without disrupting the operations of the system. This can be done via beta testing of the new product offerings while the platform continues to operate normally. The changes will thus be rolled out as soon as the beta testing phase is deemed as a success.
In order to enable the integration of AI, an initial analysis of the system is undertaken, and areas that need improvement are highlighted. After that, data from the information system is fed to the AI model and trained on how to recognize secure from insecure data using a set of parameters that define security. Similarly, the AI can be instructed to monitor financial systems like stocks and investment sources and thus provide investment recommendations to clients. In regards to the integration of blockchain technology, the major advantage is in the enhancement of security and enabling accountability and automation. The proposed information system can adapt to this as it only requires a backend database with a distributed ledger and thus the successful integration of blockchain (Shin, 2017).
The flexibility of the system can be attained by the utilization of activity-based systems development which usually entails the development of information systems based on the understanding of the existing and future business activities (Flexibility in information systems, 2020). Activity modeling entails activity design which models work based on mutual dependencies, as well as action-based modeling, which is a method based on language-action viewpoint. Therefore, the proposed NedTech systems ought to use such development methods to enable flexibility and adaptability to unknown changes.
Capabilities
The integration of AI as a product offering would significantly aid in automating some of the redundant processes, and because of the flexibility of AI as per its intended use, it can be used to monitor financial systems for investment recommendations. Blockchain can also automate some processes, especially those that require accountability, but it also ensures security as well as convenience in operating the novel systems.
The new product offerings should not be incorporated into the legacy systems because they do not make much of a difference when compared to the integration of the product offerings into the novel information system. This is because the current systems are riddled with redundancies as well the lack of automation of some of the most basic actions makes it time-consuming to operate. While the AI would help out in some aspects, it would not be fully effective and useful in addressing the needs of the organization. Therefore, the combination of the new systems and integrated Artificial intelligence would be very effective as it incorporates both the organization’s needs and is flexible enough to be changed according to the changing needs of the organization. This is also similar to the blockchain as it would require an updated and up-to-date system to work as it entails the integration of a new database. Similarly, it is also crucial to note that there would be a disruption of activities when the new offerings are incorporated into the old systems as there are no other systems to help with the transition. Therefore, the new product offerings are only meant for the novel system that is being proposed.
References
Artificial Intelligence is Changing the Information Technology Sector. (2018). Retrieved 21 February 2021, from https://www.idexcel.com/blog/artificial-intelligence-is-changing-the-information-technology-sector/#:~:text=Through%20the%20use%20of%20algorithms,equivalent%20to%20human%20intelligence%20within
Basu, K. K. (2015). The Leader’s Role in Managing Change: Five Cases of Technology-Enabled Business Transformation. Global Business & Organizational Excellence, 34(3), 28-42. doi:10.1002/joe.21602.
Connelly, B., Dalton, T., Murphy, D., Rosales, D., Sudlow, D., & Havelka, D. (2016). Too Much of a Good Thing: User Leadership at TPAC. Information Systems Education Journal, 14(2), 34-42.
Flexibility in information systems. (2020). Retrieved 21 February 2021, from https://www.civilserviceindia.com/subject/Management/notes/flexibility-in-information-systems.html
Shin, L. (2017). Looking to Integrate Blockchain Into Your Business? Here’s How. Retrieved 21 February 2021, from https://www.forbes.com/sites/laurashin/2016/05/10/looking-to-integrate-blockchain-into-your-business-heres-how/?sh=4769f2061a15
