Kinetic Consulting Launches Macky AI – the First AI Business Consulting Platform Available to Any Business

Nov 14, 2023 | Business

Kinetic Consulting, the leading boutique consulting company providing business growth consultancy, has released macky.ai, the first AI business consulting platform that offers any organisation an easy, non-prompt-based AI consulting solution for up to 55 different business categories. The platform is powered by OpenAI’s artificial intelligence technology.   

CEO of Kinetic Consulting - Joe Tawfik
CEO of Kinetic Consulting – Joe Tawfik

What is Macky AI?

The Macky AI platform overcomes some of the key hurdles preventing the mass adoption of AI in a business environment. No training is required for employees to begin taking advantage of the consulting platform. No knowledge is required on how to prompt the AI to get the right output or determine if the output is suitable. The hard work of determining which prompt to use or if the output is suitable has already been determined by the software’s creator, Kinetic Consulting. Platform users are asked a maximum of three questions to generate the desired output.

The creators of the Macky AI software have curated the types of everyday requirements of key departments in a business and what type of suitable output can be generated from a generative AI solution. An example may be generating something as simple as a job description for a new employee or something more complex, such as creating a new business process or reengineering an existing one. These types of requests are often requested for consultants to perform. Macky AI aims to reduce the cost of everyday consulting needs for companies so they can empower their employees to complete these tasks without the need for costly consultants.

By freeing up the costs paid for these lower-level activities, companies can now divert effort and funds to develop higher-value business initiatives, such as business roadmaps and growth strategy plans. These higher value and more complex business requirements will remain better suited for traditional consulting. The Macky AI platform is unique because it also provides its users with traditional consultants for more complex needs. The ability for an organisation to have the best of both worlds, all on one platform, is made possible on Macky AI. The future of consulting will be the augmentation of AI and human consultants.

Macky AI Provides New Consulting Options for SMEs

A 2023 report by the OECD[1] on the outlook of SMEs in OECD countries highlights that the majority are currently operating in highly challenging environments. The report cites that SMEs have been greatly impacted by the COVID-19 pandemic, rising geopolitical tensions, high inflation, tighter monetary and fiscal policy, and supply-chain disruptions. Retaining and attracting staff has also become a major issue for SMEs in OECD countries. According to a Future of Business Survey, it is reported to be the second most pressing challenge faced by SMEs that are older than two years in the first quarter of 2022[2]. Many SMEs have also depleted their cash reserves during the pandemic and now find it challenging to raise capital for their business to fuel the rising costs of goods and services and the capital required for digital transformation projects.

Outside of the OECD, we find the importance of a thriving SME ecosystem even more critical. In the Gulf region, SMEs contribute even more to the economy than their counterparts in OECD countries. Within the UAE, for example, SMEs represent 94% of the companies and institutions operating in the country, contributing more than 50% to the country’s GDP. SMEs account for 86% of the private sector’s workforce. Operating extensively throughout the rest of the GCC, SMEs employ 80% of Saudia Arabia, 43% of Oman’s workforce, 57% of Bahrain, 23% of Kuwait, and 20% of Qatar.

The importance of having healthy and thriving SMEs is recognised as the primary pillar of strength for any economy. The challenging environment and rising cost of capital make it difficult for SMEs to afford traditional consulting. Ironically, this is the time when consulting is most needed to help SMEs navigate, transform, and thrive again. Macky AI gives SMEs affordable access to consulting services using artificial intelligence. The AI business consulting platform provides an on-demand service for key business challenges, such as analysing a profit and loss statement to identify cost savings and developing a 12-month marketing plan to increase sales.

The Future of Consulting

Business consulting, like most industries, is undergoing a period of disruption. Technological advances, such as artificial intelligence, are accelerating the delivery of consulting in the future. Critics of the technology may highlight how AI is not 100% accurate in its outputs and is prone to error, so it should not be used. This argument is fundamentally flawed because even human-based consulting is prone to errors. All outputs delivered by human or AI consultants should be checked for accuracy. The advancement of generative AI technology has reached a point where it is now highly useful in a business or education environment.

AI technologies should be embraced rather than resisted if they are fit for purpose. Macky AI is designed to be specifically for business-related needs, and even in the open question section of the platform, the AI has been programmed not to answer questions that are not business-related. The objective of restricting it for business purposes only is to ensure that if employers give it to their employees, it will not be used for personal needs.

“As advancements in AI evolve, we need to accept that it will become a natural part of how we interact with things, get answers to our questions, and help solve complex problems. The future of consulting will be an augmentation between AI and human consultants. This is the inevitable evolutionary path. The percentages of AI usage versus human is unknown at this stage. However, I am 100% confident it will not be all traditional human consulting for much longer. Macky AI is the first step towards bringing AI into the workplace in a controlled environment for a specific business purpose. By empowering SMEs with affordable consulting outputs for business tasks, we are also helping SMEs overcome everyday business challenges and thrive in the future. Macky AI is designed to democratise consulting, making it accessible to all organisations regardless of size.” said Joe Tawfik, founder of Macky AI.

[1] OECD (2023), OECD SME and Entrepreneurship Outlook 2023, OECD Publishing, Paris, https://doi.org/10.1787/342b8564-en.

[2] OECD-World Bank-Meta Future of Business Survey, Data for Good, (March 2022).

Contact Information:
Alfred Berring
Media Officer
media@kineticcs.com

Related Files
Macky Color logo – no background.png


Topic: Press release summary

Survey Reveals Business Professionals Expect Use of Generative AI Will Drive Sharp Increase in Volume of Data and Insights Incorporated Into Business Operations

Nov 9, 2023 | Business

A new survey of insights experts and business stakeholders highlights the rapid adoption of AI technologies in reshaping how knowledge flows through enterprises. The report, “How AI will transform use of research, data and insights”, published today by Market Logic Software, the global leader for insights management solutions, reveals that more than three-quarters of insights teams and two-thirds of stakeholders have already begun using AI for insights-related tasks.

Innovation Report: How AI will transform use of research, data & insights
Innovation Report: How AI will transform use of research, data & insights

The report forecasts a sharp rise in self-service interactions with insights data amongst marketers, product managers, and other business stakeholders as AI accelerates the trend towards democratization of research and data. In parallel, the survey reveals that insight teams are set to bank the productivity benefits of AI: cutting the time needed to complete a wide range of research and knowledge management tasks. Almost 40% of insights leaders believe these enhanced AI capabilities will prompt them to shrink the size of their teams.

“More than 80% of all respondents expect that AI will help them to ‘spot new trends faster’ and ‘manage existing knowledge resources better.’ These forward-thinking pioneers will be at the forefront of seizing competitive advantage through AI and implementing a new generation of insights-driven operations,” commented Olaf Lenzmann, Market Logic Software’s Chief Innovation and Technology Officer.

While the report illustrates a good deal of alignment between business stakeholder groups and insights teams on the potential for AI to scale insights-driven decision-making, it also uncovers some marked differences in attitudes to risks. Where business leaders focus more on data security and compliance requirements, insights teams place emphasis on the need to create guardrails for research data output quality and accuracy.

“Discussion of AI tends to focus on efficiency benefits, but this data sheds new light on what may be an even more important impact,” says Mike Stevens, the report’s lead researcher and author. “Nearly 75% of stakeholders believe AI will increase their organization’s demand for research and insights. To meet this demand, insights teams will need to evolve their mix of skills, empower their stakeholders, and adopt a range of new technologies.”

Based on a series of in-depth interviews and a comprehensive survey of enterprise organizations, the report was researched and produced by industry analyst, Insight Platforms. More than 200 professionals in the USA, UK, and Canada completed the survey. Half of these worked in market research and insights functions; the remaining half were in stakeholder teams such as strategy, marketing, or product management. This sample provides the first cross-functional gauge of professional perspectives on embracing AI for research and insights. This report is now publicly available for download from Market Logic Software.

About Market Logic Software:

Market Logic is a market-leading SaaS provider of insights management solutions.

Our AI-enabled insights management platform allows insights teams to equip business decision-makers with trusted insights at scale and speed. Since 2006, we’ve helped hundreds of consumer-focused brands across the globe to transform into insights-driven businesses. Market leaders such as Unilever, Vodafone, Astra Zeneca and Tesco are driving innovation and making smarter market moves with the support of Market Logic. Find out more at https://marketlogicsoftware.com/

About Insight Platforms:

Insight Platforms is the leading publisher of expert content for insights technology and digital research methods. With virtual events, training courses and a comprehensive directory of tools, the site attracts a global audience of over 250,000 insights and data professionals annually.

Contact Information
Daniela Zuin
CMO
daniela.zuin@marketlogicsoftware.com


Topic: Press release summary

Unleash Your Business Potential: An Evening of Insight & Networking with Business Mogul Mike Southon

Oct 24, 2023 | Books, Business

Mike Southon Hi Res 2023

Mike Southon Hi Res 2023

LONDON – Oct. 22, 2023 – PRLog — Ready to ignite your entrepreneurial spirit in an atmosphere of sophistication, insight, and fun? This is an exclusive opportunity to expand your professional horizons, forge meaningful partnerships, and be part of a vibrant community of entrepreneurs and innovators. In a high-stakes environment, your business could hit the jackpot!

The London Business Journal and Introbiz proudly announce a not-to-be-missed evening of networking, learning, and entertainment at the illustrious Grosvenor Casino on the 25th of October. Elevate your business strategies, connect with like-minded professionals, and unwind in one of the city’s top venues, known for its blend of luxury, excitement, and first-class service.

Highlight of the Night – A Conversation with Mike Southon:

Stealing the spotlight is none other than Mike Southon, the mastermind behind ‘The Beermat Entrepreneur.’ Renowned for his serial entrepreneurship and best-selling author status, Southon will distil decades of business acumen into a single, potent keynote. His insights have revolutionised the way we perceive business strategies, providing a robust framework for converting nascent ideas into thriving enterprises.

Why Attend?

Exclusive Insights:

Gain exclusive entrepreneurial strategies from Mike Southon, and equip yourself with the wisdom that has shaped the foundations of successful businesses across the globe.

Premium Networking: Engage in meaningful discourse with a diverse professional audience, including ambitious entrepreneurs, seasoned business leaders, and trailblazers across various sectors. Here, potential partnerships and ventures await.

High-Stakes Fun: Revel in the upscale ambiance of the Grosvenor Casino with complimentary bar refreshments, a thrilling non-monetary roulette tournament, and the chance to win an exquisite bottle of champagne. Every participant is granted a £5 Free Play voucher, heightening the night’s excitement.

Collaborative Opportunities: Unlock the potential of your business with The London Business Journal, an esteemed publication dedicated to bolstering business alliances across the metropolis.

The event, although casual, holds prospects that are anything but trivial. With limited seats available, potential attendees are encouraged to secure their tickets at the earliest. This is more than an event; it’s a launchpad for your next business success story.

Join us. Expand your horizons. Let your business prowess shine in an evening dedicated to celebrating entrepreneurial spirits.

For more information and to reserve your spot, please visit : https://introbiz.co.uk/networking-event/deck-of-deals-mike-southon-live-at-the-grosvenor-casino/

About The London Business Journal:

The London Business Journal is London’s number 1 business magazine. It covers exclusive stories of some of the wealthiest self-made entrepreneurs in the world, as well as features, tips and advice from some of the most prominent business thought leaders of our time.

It is a no-nonsense and down to earth business publication catering primarily to businesses in and around the UK’s most economically vibrant city – London, although it is read both nationally and internationally.

The London Business Journal is a free subscription-based publication and can be obtained by visiting: www.londonbusinessjournal.co.uk

About Introbiz:

Introbiz is a professional but ‘human’ business network where relationships are born and millions of pounds worth of business is secured every single year. The Introbiz experience combines proven ‘power group’ formats for effective networking, set-up in a hybrid of online and in-person locations; with a community of ambitious business owners. Harnessing over 13 years of experience connecting businesses and hosting events, they are able to create powerful referrals and environments where long-lasting relationships are born.

To find out more about Introbiz visit: www.introbiz.co.uk

Media Contact

For further information contact:

Yasmin Issabek

Email: yasmin.issabek@londonbusinessjournal.co.uk

Hong Kong – Business expectations for the fourth quarter of 2023

Oct 20, 2023 | International

Business expectations for the fourth quarter of 2023

****************************************************


     The Census and Statistics Department (C&SD) released today (October 20) the results of the Quarterly Business Tendency Survey for the fourth quarter (Q4) of 2023.
 
Business situation
 
     For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (17%) in Q4 2023 over the preceding quarter is higher than that expecting it to be worse (9%). 
  
     When compared with the results of the Q3 2023 survey round, the proportion of respondents expecting a better business situation in Q4 2023 is 17%, slightly higher than the corresponding proportion of 16% in Q3 2023. On the other hand, the proportion of respondents expecting a worse business situation has slightly decreased from 10% in Q3 2023 to 9% in Q4 2023.
 
     Analysed by sector, respondents in most of the surveyed sectors expect their business situation to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, significantly more respondents in the accommodation and food services and retail sectors expect their business situation to be better in Q4 2023 as compared with Q3 2023. 
 
     The results of the survey should be interpreted with care. In this type of survey on expectations, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the future accords with the underlying trends. The enumeration period for this survey round was from September 2, 2023 to October 10, 2023. 
 
Volume of business/output
 
     Respondents in all of the surveyed sectors expect their volume of business/output to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, significantly more respondents in the retail and accommodation and food services sectors expect their volume of sales/business to increase in Q4 2023 over Q3 2023.
 
Employment
 
     Respondents in all of the surveyed sectors expect their employment to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, more respondents in the accommodation and food services, real estate, retail, manufacturing and financing and insurance sectors expect their employment to increase in Q4 2023 over Q3 2023.
 
Selling price/service charge
 
     Respondents in all of the surveyed sectors expect their selling prices/service charges to increase on balance or remain broadly unchanged in Q4 2023 as compared with Q3 2023. In particular, more respondents in the accommodation and food services and manufacturing sectors expect their prices of food provided/charges for services rendered/selling prices to go up in Q4 2023 over Q3 2023.
 
Commentary
 
     A Government spokesman said that business sentiment among large enterprises improved slightly as compared to three months ago. Large enterprises’ appetite for hiring stayed positive.
 
     Looking forward, the spokesman said that while the continued growth of consumption- and tourism-related activities and the Government’s measures to boost the momentum of the recovery should provide some support, the difficult external environment and tight financial conditions will continue to dampen business sentiment. The Government will monitor the situation closely.
 
Further information
 
     The survey gathers views on short-term business performance from the senior management of about 560 prominent establishments in various sectors in Hong Kong with a view to providing a quick reference, with minimum time lag, for predicting the short-term future economic performance of the local economy.
 
     The survey covers 10 major sectors in Hong Kong, namely manufacturing; construction; import/export trade and wholesale; retail; accommodation and food services (mainly covering services rendered by hotels and restaurants); transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors.
 
     Views collected in the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in, and are limited to the expected direction of quarter-to-quarter change (e.g. “up”, “same” or “down”) but not the magnitude of change. In collecting views on the quarter-to-quarter changes, if the variable in question is subject to seasonal variations, respondents are asked to provide the expected changes after excluding the normal seasonal variations.
 
     Survey results are generally presented as “net balance”, i.e. the difference between the percentage of respondents choosing “up” and that choosing “down”. The percentage distribution of respondents among various response categories (e.g. “up”, “same” and “down”) reflects how varied their business expectations are. The “net balance”, with its appropriate sign, indicates the direction of expected change in the variable concerned. A positive sign indicates a likely upward trend while a negative sign indicates a likely downward trend. However, the magnitude of the “net balance” reflects only the prevalence of optimism or pessimism, but not the magnitude of expected change, since information relating to such magnitude is not collected in the survey.
 
     Furthermore, owing to sample size constraint, care should be taken in interpreting survey results involving a small percentage (e.g. less than 10%) of respondents in individual sectors.
 
     Chart 1 shows the views on expected changes in business situation for the period Q4 2022 to Q4 2023.
 
     Table 1 shows the net balances of views on expectations in respect of different variables for Q4 2023.
 
     The survey results are published in greater detail in the “Report on Quarterly Business Tendency Survey, Q4 2023”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1110008&scode=300).
     
     Users who have enquiries about the survey results may contact the Business Expectation Statistics Section of the C&SD (Tel: 3903 7263; email: business-prospects@censtatd.gov.hk).

Hong Kong: Gateway to GBA business opportunities

Sep 6, 2023 | Business

As part of the second largest economy in the world, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) with a population of 86 million is a new driver of Hong Kong’s economic development and an ideal springboard for international companies to enter the Mainland China market.

HKTDC will take its mega promotion campaign, Think Business, Think Hong Kong, to Paris on 19 September.

The Hong Kong Trade Development Council (HKTDC) will take its mega promotion campaign, Think Business, Think Hong Kong, to Paris on 19 September. The event will explore the current market landscape of the GBA and its interconnectivity with Mainland China.

Prominent business leaders will share their successes and insights on how French and European companies can capture the vast opportunities in the GBA by leveraging the Hong Kong platform. They include Mr Laurent Doucet, Vice President of the China Committee of The French Chamber of Commerce and Industry in Hong Kong and Partner of Roland Berger, Ir Andrew Young, Associate Director (Innovation) of Sino Group, Mr Nicolas Vanderchmitt, Partner and Head of Hong Kong Office of LPA-CGR Avocats, and Ms Delphine Lefay Dultzin, Co-Founder & CEO of OnTheList.

The GBA has emerged as a global hub for innovation, with rapidly evolving breakthroughs in finance and healthcare. Thematic sessions on these hot topics, including green finance and sustainability, will be held. Innovative global business leaders will share their insights, including representatives from the Hong Kong Science and Technology Parks Corporation, Hong Kong Monetary Authority, Moody’s Investors Service, Credit Agricole Corporate and Investment Bank, J.P. Morgan, Hong Kong Exchanges and Clearing Limited as well as start-ups.

At the event, Dr Peter K N Lam, HKTDC Chairman, Mr Paul Chan, Financial Secretary of the HKSAR, and Mr Olivier Becht, France’s Minister for Foreign Trade, Economic Attractiveness and French Nationals Abroad will deliver opening remarks at the symposium.

There will be extended networking activities, with Hong Kong SAR Government officials and business leaders from across sectors, including technology, finance and professional services, taking part in the programme. One-on-one business consultations, on-site business matching with French companies as well as the Hong Kong Dinner provide many opportunities for the business communities of France and Hong Kong to connect.

Strong France-Hong Kong ties

France is a close trading and investment partner to Hong Kong. In 2022, it was Hong Kong’s third largest trading partner within the EU. Regarding bilateral investment, France was the largest EU investor in Hong Kong at the end of 2021, with Hong Kong ranked as the fifth most popular destination for French investment in Asia. Hong Kong investors have also made substantial investments in France, with the city the third largest Asian investor in the country. In terms of commercial presence, France ranked just behind Germany among EU members in the number of companies established in Hong Kong. As of 2022, there were 365 French companies in Hong Kong.

Hong Kong an ideal business partner

Hong Kong has consistently ranked highest on economic freedom and competitiveness. Its institutional strengths, including the free trade and investment regimes, a simple and low tax system and free flow of capital and goods offer a favourable business environment for investors.

Beyond trade and finance, Hong Kong offers exciting prospects in innovation and technology (I&T) for French start-ups. Entry into or expansion in Mainland China as well as conducting joint research can help French enterprises further grow their business. With its aim to create an I&T new hub of 30,000 hectares, Hong Kong’s Northern Metropolis project also offers many opportunities, which will be highlighted at the symposium.

Hong Kong’s strategic location as an international financial, fundraising and investment hub and as the international gateway between Mainland China and the rest of the world presents immense opportunities for French companies seeking to expand in the GBA, Mainland China, Belt and Road countries and ASEAN.

For more information, visit:
https://thinkbusinessthinkhk.com/2023-paris/symposium/en/index.html

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries
HKTDC’s Communication & Public Affairs Department:
Snowy Chan, Tel.: +852 2584 4525, Email: snowy.sn.chan@hktdc.org


Topic: Press release summary