The benefits of artificial intelligence for the financial services sector are supposedly massive. But financial leaders do not seem gripped by the same sense of FOMO that many other businesses exhibit regarding the technology, with just 14% having integrated it into their corporate strategy.
Technology and business services firm IBM has acquired OneAdvanced’s application modernisation capabilities. Founded in 2008 OneAdvanced has grown into of the UK’s largest providers of business software and services serving global customers with an annual turnover of £330 million.
Crowe has acquired accounting firm Dendy Neville. The move expands Crowe’s presence in Kent, with the purchase welcoming three new partners as part of the move. Mark Anderson, Kent office managing partner for Crowe, said, “This business combination is a very positive step forward for the presence of the Crowe brand in Kent, with a more significant footprint in our local geographic market.
Alvarez & Marsal has announced the appointment of Chris Price as EMEA head of its legal services business. Rob Barker has also arrived as the firm’s new EMEA head of insurance, wealth and asset management.
Moore Kingston Smith has appointed two new partners: Alison Kerrey and Guy Taylor. The arrival of the two new partners comes hot on the heels of the five partners promotions made in May, with the firm’s partnership team now over 75-strong.
As Reddit ranks higher in Google searches, its traffic has reportedly grown 39% year-over-year.
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by Christian Muntean
As happens in the hallowed halls of Harvard, two sets of students were given two different groups of rats to run through a maze. Dr. Robert Rosenthal, who was conducting the experiment, informed the students that one set of rats was “bright”—smart and good at running mazes. The other set of rats was “dull”—slow and easily confused in a maze.
He asked the students to run their rats and score their times. As expected, the bright rats performed brilliantly and quickly made it to the end of the maze. The dull rats struggled in the same maze. Uncertain, lost, or confused, they just had a more difficult time navigating it quickly. Or so the students thought.
There were, in fact, no bright rats or dull rats. All of the rats were normal lab rats. Dr. Rosenthal had randomly assigned each rat to a group labeled “bright” or “dull.” Subconsciously, this difference in expectations led the students to relate to the rats differently. The normal lab rats performed up or down to the students’ expectations.
Variations of this study have been repeated many times, particularly in classrooms where teachers’ expectations influenced students’ performances. Time and again, students live up (or down) to the unspoken expectations.
The expectancy effect is so powerful that a research methodology called “double-blind” trials is now considered a gold standard for some kinds of research, especially medical research. In these trials, neither the subjects nor the researchers know who has been given the actual treatment or who has received the placebo, controlling for biases and expectations.
Both the placebo effect and the expectancy effect describe quantifiable, tangible results that are entirely due to perception. Perception (what is believed) influences reality (what can be observed and measured).
Leadership Is A Relationship
Leadership is a relationship—this is true always. The way we choose to relate to those around us and the way we help them relate to others are what makes or breaks leaders. This extends to our customers or clients, our employees, our partners, and so on.
We predispose ourselves for or against successful relationships based on how we see others. Since leadership is a relationship, our success as leaders is tied to how we see others.
Putting it into practice: Try this thought experiment: Identify one person at work (or at home) who makes you feel frustrated or disappointed. Without self-editing, list the first eight words that come to mind that describe this person. How does that list lean? Positive? Negative?
For many people, the list will lean negative. Try this: Rewrite your list with eight true descriptions about that person that are positive or affirming.
For the next 21 days, before you interact with that person, thoughtfully review this new list, imagining that person and those positive traits one by one. Each day add to your list one new positive description—or something you are grateful for—about that person.
Try this and see if your relationship with those you lead doesn’t start to change. It’s not a magic wand, but you are changing the conditions for success.
© Christian Muntean 2024
This excerpt is from Train to Lead: The Unstoppable Leader’s Plan for Peak Performance, by Christian Muntean. Reach him at https://www.christianmuntean.com.
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