Meet Lytt, the digital assistant that empowers employees to speak up when something is not right

The #Metoo movement and the increasing number of scandals in tech companies and political organisations, evidently became more urging for employers than ever before. But still, employees who experience discrimination and other inappropriate situations in the workplace rarely address these issues. Research shows that more than half of all cases are never reported due to fear of retaliation or career disadvantage.

Employees do not trust in internal incident-resolving processes and as a result rather leave the company than report what happened.

That’s what Lytt aims to tackle. Lytt is an AI-enabled digital assistant that helps employees to talk about inappropriate experiences at work. It guides users through the process of reporting incidents or concerns, can provide first aid, clarify doubts and even give simple legal advice. After talking to Lytt, the employee is in full control of what happens with the report. Lytt can connect them anonymously to a chat with an internal confidant or even an external expert in the field of the incident.

Marvin and Lara, the founders of Lytt.

That enables employees to address difficult topics in a safe and anonymous way, such as cultural issues, unconscious bias, harassment, discrimination or bullying. At the same time, Lytt empowers companies to identify health risks and conflicts early on, reduce personnel costs and prevent financial risk and image damage. Moreover, it provides the employer with a comprehensive KPI dashboard where all cases are anonymously outlined. This helps to create valuable insights on a company’s working climate and gives automated strategic recommendations for improving corporate culture.

To achieve this Lytt harnesses the power of conversational interfaces with deep learning elements – a promising application of AI. Building a smart chatbot with the ability to process natural language allows to provide helpful advice or clarify possible legal steps without revealing the user’s identity.

Below is an overview of the incident management app.

And below is an overview of the resulting consulting.

The digital assistant does not judge or forward a case unless you explicitly ask for it. It is always available and allows access via employer-individual progressive web app to really make sure employees can talk to Lytt with any device and from anywhere, whenever they feel ready for it. Those who experienced an incident are often unsure whether they should bother someone or if their report would even be relevant.

At the present time, Lytt is focused on offering consulting, mediation and workshops for companies in order to effectively counterpart those problems as well. However there is a lot more planned.

If you want to learn more about Lytt, check out www.lytt.de/en or follow them on LinkedIn, FB or Twitter.

Ready player one? I am back to blogging

It has been a while but I am finally back to blogging. Some exciting developments kept me away – my kid, my new professional challenge, my many other hobbies.

Rest Later, No.9…

Blogging mostly means discipline. It is just that the only free time I have is either late at night or early in the morning – in either case I need to get going and that, requires discipline.

So here is the short version of what happened in the last year and a half.

I met an amazing girl.

Not so long after we were +1 (yes, a baby).

I had a short advisory stint at Contentful.

And currently I steer the digital transformation at rtv media group (a Bertelsmann SE company).

There will be some changes to the blog. If previously I mostly focused on some of my “visionary” thoughts, now I want to get a bit deeper in tech and share my views and that of my tech friends.

So let’s see how this turns. Wish me good luck.

Founders Hack was in Bielefeld and it was great!

Some (or none) of you may have wondered what was I doing on a mid-June weekend. Me being me, I went to the city of Bielefeld and mentored in the first Founders Hack. It was a typical gloomy German weekend, yet the hackathon was probably the best thing I have seen in a while.

The best part of the hackathon were actually the teams. I was impressed with the stunning mix of experienced business professionals and pumped up techies. In fact each team without exception managed to deliver a well thought over and absolutely uptodate solution.

It started during the day.

And went on during the night. Some went on till 4am.

A big differentiator to other hackathons were the real life challenges. They were drawn from actual opportunities (or problems) and provided by industry leaders from the Bielefeld area: Wortmann, Miele, Boge, Alcina, Benteler, Claas.

Some went a step further e.g. Boge impressed by bringing an actual product to make the teams play with their machine.

Challenges focused on IoT and machine learning with 2 prominent IoT ones being: 1) build an IoT based business model for the laundry care in sharing economy, and 2) track spare- & wear parts in a complex machine. Then the machine learning challenges explored using external data sources to track fashion trends and ways to increase efficiency in farming with data from agricultural engines.

The final delivery was in the form of a short pitch in front of the cheering crowd in a fully packed theater. And the prize was a unicorn!

Now add to this the fantastic Lasse Chor who orchestrated the event with a ton of great vibes and the tiresome Founders Foundation team, and you have an unforgettable weekend.

This event has definitely left a mark. I believe it is the first time when I saw corporates connect with startups and take over the initiatives into their agenda. For me the secret sauce to make this work would be well summed up with few words: curated team building, well defined areas of interest and business opportunities for the corporates, unhindered access to corporate executives, energising moderation and mentoring.

Most importantly, there was plenty of food. Just kidding but there was indeed good food :). All the time!

Before

and after

“This is Bielefeld” – these are the true words of Jackson Bond from Relayr, the word is spreading. One thing is clear, entrepreneurship is no longer reserved for Berlin, Hamburg, München and Cologne.

Easter blogging – Blockchain in examples

After the intro into the world of bitcoin and blockchain and then showing the link to financial services, now is (finally) time for my last post in the series and this time about real world applications of blockchain. Luckily the long wait till I finally write it down, came with new findings so it was worth the extra time.

 

If you remember some of the prominent use cases for blockchain were:

  • Identity – blockchain allows to safely store, confirm and distribute personal data which is applicable for KYC.
  • Registry – blockchain could keep track of records of ownership, enable exchange of ownership of physical assets for digital ones, or just store information for public or permissioned access.
  • Smart contracts – blockchain can create and execute autonomously financial contracts e.g. payouts.

And here are some interesting services that I found with time:

  • Notary services are offered by Bitproof, Blocksign, Stampd and others. In the core of the services, a digital version of a signed document is uploaded and the parties share their acknowledgement in the form of a video (or other means). This comes at a 99% less cost than a traditional service and goes at a price of around 10 cents (or less) in Stampd. Ironically, I have stored the links for this article for some months and the first 2 did not open today. Not sure if they are still live, and in addition a recent article cast doubt on the readiness of such solutions as they do not seem to ensure that it was you who signed the document and that all parties did so voluntarily.
  • KYC via ShoCard. ShoCard offers a digital identity solution that records your personal information and stores it on your mobile phone while keeping a hash of it on their servers. This allows to use your info in numerous places without having to repeatedly provide proof that this is you and you provide the correct information as it was already verified once. This is quite useful for speeding up the KYC procedure for financial institutions but can also go towards replacing your driving license with a digital proof and logging into websites with a fingerprint from your phone.
  • Peer to peer everything – Arcade City is the “Black Market” Uber. It came to light after Uber and Lyft had to shut down operations in Austin, Texas. The response from the community was to set up a FB group where rides are requested and drivers pick them up. Arcade City aims to build on this momentum and remove the middleman in ride-sharing by connecting riders and drivers directly by using blockchain. It wants to take a small cut of payments once the company finished building its app. The company has been very controversial as it seems to have missed on promises and features but the idea is mindblowing.
  • Decentralized asset exchanges and marketplaces with notable examples such as BitStampBitShares, RMG Royal Mint and BitBond. BitShares claims (full source):

a high-performance decentralized exchange, with all the features you would expect in a trading platform. It can handle the trading volume of the NASDAQ, while settling orders the second you submit them.

Decentralization gives BitShares robustness against failure. When a centralized exchange is compromised, millions of dollars and thousands of users are impacted all at once. In a decentralized system, any attack or failure impacts only a single user and their funds. Users are in control of their own security, which can be much better than any centralized entity.

With BitShares your trades execute in seconds, just like any centralized website interface. Unlike centralized exchanges, there can be no high-frequency trading, front running, or hidden orders. This puts all traders on a level playing field.

  • Distributed ledger as a platform – projects like Corda, Hyperledger Project and Ethereum have built the foundation for execution of smart contracts. Such platforms standardise the way to store, manage and automate legal agreements between businesses. For example, Corda is being developed by R3, a consortium of over 70 of the world’s largest financial institutions. Their mission is “the establishment of an open, enterprise-grade, shared platform to record financial events and execute smart contract logic” (source: Corda website).

Some of the listed apps and platforms are growing pretty fast and experiencing wide industry acceptance (e.g. Corda, Ethereum), others seem to be still defining their value proposition and in development. But all in all the blockchain market evolves with more services, platforms and currencies starting every year, and blockchain is here to stay.

And for those celebrating Easter. It’s a time for eating all the chocolate you can find with complete impunity!

Have a delicious Easter with your beloved ones!!!

Blockchain in the context of financial services

In my last post I put together a brief intro of bitcoin and its characteristics. This is how we reached the topic of blockchain which is behind bitcoin. In the context of financial services blockchain is a ledger or in other words it represents historical records of verifiable monetary stake. There is a wonderful demo what blockchain actually looks like on Anders Brownworth’s blog.

Knowing what blockchain is, why is it so useful in financial services?

Trustless exchange – Two parties are able to make an exchange without the oversight or intermediation of a third party, strongly reducing or even eliminating counterparty risk.

User control -users are in control of all their information and transactions e.g. physically may own it and provide a public token as reference to it.

Data integrity and quality – blockchain data is standardised, consistent, and widely available.

Reliability – due to its decentralized nature, blockchain does not have a central point of failure and is better able to withstand malicious attacks. With the reservation/pre-condition that the consensus process cannot be manipulated.

Transparency and immutability – changes to public blockchains are publicly viewable by everybody in the blockchain thus creating transparency, and all transactions cannot be altered or deleted. This is the equivalent of one single source of truth for all.

Ecosystem simplification – putting all transactions on a single public ledger, removes the complications of multiple ledgers and many parallel truths.

Faster transactions – nowadays interbank transactions can take days for clearing and final settlement, especially outside of working hours. Blockchain transactions can reduce transaction times to seconds (or minutes) and are processed 24/7.

Transaction costs – by eliminating  intermediaries and overhead costs for exchanging assets, blockchains have the potential to greatly reduce transaction fees.

Permissions and rich consensus process – a public blockchain is a blockchain that anybody in the world can read, can send transactions to and expect to see them included if they are valid. Also anybody in the world can participate in the consensus process – the process for determining what blocks get added to the chain and what the current state is. Consortium blockchains: a consortium blockchain is a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, one might imagine a consortium of 10 financial institutions, each of which operates a node and of which 7 must sign every block in order for the block to be valid. Fully private blockchains: a fully private blockchain is a blockchain where write permissions are kept centralized to one organization. Read permissions may be public or restricted to an arbitrary extent.

Original sources for the points above + my own commentary: Deloitte on blockchain technology/Ethereum blog

Blockchain has already been widely applied in financial services. In most cases we talk about proof of concept applications but there are already several exchanges running on blockchains and many other exciting applications (more on them in my next article). Organizations like R3 and Digital Asset Holdings have worked tirelessly to understand the market fit of blockchain and provide software kits which then to a great extent enabled the blockchain revolution.

Some of the most prominent use cases for blockchain are as follows:

  • Identity – blockchain allows to safely store, confirm and distribute personal data which is applicable for KYC.
  • Registry – blockchain could keep track of records of ownership, enable exchange of ownership of physical assets for digital ones, or just store information for public or permissioned access.
  • Smart contracts – blockchain can create and execute autonomously financial contracts e.g. payouts.

My post got pretty lengthy this time so let me stop here. In my next article I would like to share some really interesting real life applications of blockchain.