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The Transformative Power of AI in Business

Tom Spencer

In the digital age, businesses are constantly seeking innovative ways to gain a competitive edge and streamline their operations. From enhancing customer experiences to optimizing decision-making processes, AI is reshaping the way businesses operate and opening up new possibilities for growth.

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Wealth Management 101: The Hidden World of Private Banking

Tom Spencer

The financial services industry comprises firms that operate across a range of sectors: Asset & Wealth Management, Banking & Capital Markets, and Insurance. In simple terms, asset management firms are the ‘manufacturers’ of investment products (e.g., clients can purchase iShares on the RBC Wealth platform).

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Bank Profitability: Decoding the Income Statement

Tom Spencer

A bank’s income statement can be simplified into five main line items: Net interest income Non-interest income Operating expenses Provision for credit losses (PCL) Tax Image 1: Illustrative example of a bank’s income statement Source: CIBC’s 2022 Annual Report 1. The biggest swing in operating expenses is likely to be variable compensation.

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Driverless Cars Will Change Auto Insurance. Here’s How Insurers Can Adapt

Harvard Business

There is little doubt that the widespread adoption of autonomous vehicles will have a huge impact on the automobile insurance industry. Since insuring privately owned vehicles is what the auto insurance industry has been all about, insurers have every reason to be concerned about their future growth and profitability.

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When is a Business Prepared for Sale?

Martinka Consulting

If the management team, or part of it, leave and sales go down so does his ultimate payout. Operations and management systems in place that will make a transition smooth. Increased costs for medical insurance, unemployment insurance, employee turnover, and more. The post When is a Business Prepared for Sale?

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Why the Insurance Industry Can’t Risk Overlooking Artificial Intelligence - SPONSOR CONTENT FROM COGNIZANT

Harvard Business

The insurance industry has not been immune to AI’s advancement – whether implementing robo-advisors for investment management (Vanguard and Charles Schwab) or applying AI to insurance and loan underwriting (the Chinese search giant Baidu, which provides enhanced risk assessment capabilities). Assess readiness.

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8 Reasons that May Cause You to Loose Customers

Tom Spencer

Over time, the executives get so engrossed in running the day to day operations of the business that they forget that the purpose of the business is to serve it’s customers. You are not transparent or operate in bad faith. Gyms and insurance companies are particularly notorious for this. Shifting employee attitudes.

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