Honestly, it shocks me that businesses are still not actively utilising their data. I wonder whether people harvest their data expecting it to jump up one day, collect itself into a strategy and present itself to you, ready for profit. Data is one of the most valuable assets your business has, enabling you to back your decisions with science within moments. However, few seem to actively be doing it. Those who are have the data (ironically) to show its success.
Building an AI model can be incredibly tricky. As an emerging technology, the rate of failure is quite high. This exists due to the lack of standards and open source libraries enabling developers to fulfil each use case. AI also comes with an incredible amount of ambiguity. For instance, when building a mobile app with a private messaging feature, there are use cases and open source code enabling a developer to understand precisely what the expectations of the platform are from a usability perspective, and code that other developers have published enabling them to achieve this.
With blockchain boasted as immutable, secure and the single source of truth, naturally we expect it to be as secure as Fort Knox. When it comes to getting data off the blockchain, this would naturally seem to be a very difficult issue for many companies. However, with many companies executing initial coin offerings (ICOs) and later falling illiquid, it is natural to be weary of the data that network was holding on the blockchain on your behalf (which naturally is still out there). Even more critical in some cases can be retrieval of that data.
Business process automation has become increasingly relevant over previous years. With businesses having now seen the benefits first hand, the requirement to create further efficiencies using automation is becoming even more apparent. In a previous blog post, we covered the process of implementing business process automation. This post will outline some potential means of implementing automation to improve your business’ customer service and team morale.
Despite the highs and lows of blockchain and cryptocurrencies in 2017/18, there’s simply too much to ignore from this technology that will act as a leader of digital transformation over the next few years. In 2017, we saw heavy cryptocurrency adoption, followed by an 80% decline in the price of Bitcoin during 2018 (with altcoins affected even more in many cases). As a digital product company, however, we’re much more concerned with blockchain technology and its adoption (as opposed to cryptocurrencies, which I’m still rather skeptical about).
Process automation was a primary focus for businesses in 2018, and will become even more relevant in 2019 as organisations focus on creating efficiencies. Coles are spending more than $700 million over the next five years on automation, to secure a step-change in costs and catch up with arch rival Woolworths.
Innovation isn’t very useful if it doesn’t save time and money, which is why Tesla’s new battery powered semi-trailer truck, the Tesla Semi, is something worth taking a look at. Despite being an automobile, the Tesla Semi is a product that stands out to us as one aiming to use innovation as a means of improving both economic and environmental factors, whilst reducing the likelihood of car accidents involving trucks.