MANAGING in the

NEW WORLD

Digital Transformation

One of the industries at the forefront of growth in the ongoing digital age is that of the chatbots. The global chatbot market is topped predictably by the tech giants such as Microsoft, Google and Facebook. In fact, these three companies alone account for a staggering 97.5 % of the market share as per 2015 figures revealed by the Transparency Market Research. The same study also predicts that by the year 2024, this industry will be worth just short of a billion dollars. Among the regions, it is Asia- Pacific that is expected to top the worldwide sales and impact. Newer applications of chatbots are constantly being discovered, with the latest being scaled in the area of talent recruitment. Chatbots though still need little more pruning to make them ready to speak to humans using natural language. They also need to be more industry- specific. The trend will further pick up in the areas of technical support and customer service, but not be restricted to any of these. An increasing number of companies are trying to leverage the ongoing market traction.

Source:https://inc42.com/resources/emerging-chatbot-trends-need-know/

Uploaded Date:15 January 2019

The Blockchain technology has the potential to bring massive social benefits in the developing world. These were discussed at the recent Wharton India Economic Forum that was held in Philadelphia. Blockchain is especially in use in financial services and banking, agriculture and supply chains. One challenge facing this business innovation is the fact that a lot of laws in these developing countries have not incorporated such digital advancements. There are also some issues in its implementation. Kevin Werbach who is the Professor for Legal Studies at Wharton, has written a book The Blockchain and the New Architecture of Trust highlighting the further misconceptions surrounding Blockchain. In particular, he points out, how it is seen as a scam. The cities of Mumbai and Visakhapatnam have done much to use blockchain in their supply chains. Chandigarh meanwhile is using it for tracking of financial and legal records. Assam and Sikkim are also using it to help in governance patterns.

Source:http://knowledge.wharton.upenn.edu/article/blockchain-brings-social-benefits-emerging-economies/

Uploaded Date:07 January 2019

The newer suite of technologies comes in various forms. Some of these includes the likes of Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), automation, Industry 4.0 and business analytics. A number of top business executives believes that these technologies can boost business benefits by between thirty and fifty percent. Digitally reinvented incumbents can also leverage the same. Some key principles adopted by successful transformative companies have been identified. It all starts with developing a tech road map that can help curate new business models, while also successfully reinventing legacy businesses. Management training ought to be provided to the existing personnel to develop new opportunities. A modern technology environment needs to be built in at the firm. The entire data strategy needs to be devised to make it more valuable and accessible. The strategic value needs to be captured from the tech used in the operating model.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-cornerstones-of-large-scale-technology-transformation

Uploaded Date:07 January 2019

The top few trends for the field of blockchain have been identified that will be hot in 2019. First of all, the apps will get decentralized, leading to the download and use of a vast number of options. Off- chain components will gain in importance towards enterprise class apps. The issues surrounding non- technology issues will come up to the surface. The convergence between blockchain and the internet-of-things is ongoing. This will enable large scale data warehousing as sensors will keep picking up much greater bytes of data than ever before. The entire blockchain ecosystem is in for some form of evolution this year. 2018’s top players such as Ethereum, Corda and Hyperledger Fabric may not remain the incumbent leaders by the end of 2019. Due to the rise of major projects, the visibility for blockchain will only rise.

Source:https://jaxenter.com/top-5-blockchain-predictions-2019-152880.html

Uploaded Date:28 December 2018

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