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Category: business – Page 61

Data and analytics have played a key role in all four dimensions of digital transformation—that is, customers, employees, products and operations—by helping businesses understand these functions and by offering actionable insights. These insights have been necessary to enable timely interventions to optimize operations or offer excellent customer experience by continuously innovating products and services.

Likewise, with generative AI becoming more widely available through ChatGPT from OpenAI and BARD from Google, among other products, the power of AI can help break innovation barriers and transform businesses. Generative AI is a subset of AI capable of creating new content in the form of text, code, voice, images, videos and processes in response to user prompts.

AI and analytics solutions powered by generative AI will likely have significant impact on all four dimensions of digital transformation to be innovative and accelerate the journey.

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Malls are becoming places for public libraries, animal shelters, basketball courts and entertainment centers.

Across the United States, some malls are undergoing big changes. Businesses such as animal shelters, trampoline parks and movie theaters are filling the spaces that have been left empty in recent years. NBC News’ Brian Cheung has the story.

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SpaceX is revolutionizing the Internet industry with its Starlink broadband satellite network. As of today, the company operates a constellation of around 4,265 Starlink satellites in Low Earth Orbit (LEO) that provide high-speed internet to over 1.5 million subscribers globally. SpaceX is launching Starlink satellites every month to continue expanding service coverage, with plans to launch a total of 12,000 satellites. Besides providing internet to homes and businesses, Starlink beams service directly to user antennas installed on vehicles in motion, like RVs, cruise ships, and aircraft.

In the early days of satellite internet, Geostationary Earth Orbit (GEO) satellites were the norm for aviation. These GEO satellites, positioned at an altitude of approximately 36,000 kilometers above the Earth’s surface, provided coverage to large regions but have limitations in terms of speed and latency – making it hard to livestream or have video calls in-flight. However, everything changed when SpaceX set its sights on LEO and launched thousands of satellites. One of the key advantages of Starlink’s satellites is the ability to provide faster internet speeds because they operate at much lower altitudes of around 550 kilometers. With traditional GEO satellites, the signal had to travel a considerable distance to reach the satellite and then make the round trip back to Earth, resulting in noticeable lag and latency average of around 600ms (milliseconds). In contrast, Starlink’s LEO satellites are positioned much closer to the planet, reducing the distance the signal travels.

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Data science has been around for a long time. But the failure rates of big data projects and AI projects remain disturbingly high. And despite the hype, companies have yet to cite the contributions of data science to their bottom lines.

Why is this the case? In many companies, data scientists are not engaging in enough of softer, but more difficult, work, including gaining a deep understanding of business problems; building the trust of decision makers; explaining results in simple, powerful ways; and working patiently to address concerns among those impacted.

Managers must do four things to get more from their data science programs? First, clarify your business objectives and measure progress toward them. Second, hire data scientists best suited to the problems you face and immerse them in the day-in, day-out work of your organization. Third, demand that data scientists take end-to-end accountability for their work. Finally, insist that data scientists teach others, both inside their departments and across the company.

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Who’s afraid of the big bad bots? A lot of people, it seems. The number of high-profile names that have now made public pronouncements or signed open letters warning of the catastrophic dangers of artificial intelligence is striking.

Hundreds of scientists, business leaders, and policymakers have spoken up, from deep learning pioneers Geoffrey Hinton and Yoshua Bengio to the CEOs of top AI firms, such as Sam Altman and Demis Hassabis, to the California congressman Ted Lieu and the former president of Estonia Kersti Kaljulaid.

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Companies are integrating AI into their operations so quickly that job losses are likely to mount before the gains arrive. White-collar workers might be especially vulnerable in the short-term. The speed of this adoption presents an opportunity for companies to step up their pace of innovation, however — and if enough companies to go on offensive, then we won’t have to worry about AI unemployment. Adopting a bias for boldness and a startup mentality will help companies find the agility to make the most of this moment, and protect jobs as a result.

Page-utils class= article-utils—vertical hide-for-print data-js-target= page-utils data-id= tag: blogs.harvardbusiness.org, 2007/03/31:999.359084 data-title= Companies That Replace People with AI Will Get Left Behind data-url=/2023/06/companies-that-replace-people-with-ai-will-get-left-behind data-topic= AI and machine learning data-authors= Behnam Tabrizi; Babak Pahlavan data-content-type= Digital Article data-content-image=/resources/images/article_assets/2023/06/Jun23_23_1300035600-383x215.jpg data-summary=

Investing in innovation — not cutting costs — will position companies to thrive in the long run.

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One hundred thousand tons of clothes dumped illegally in a Chilean desert. The tragic collapse of the Rana Plaza garment factory in Bangladesh… People are increasingly turning to a concept called “circular fashion” that may help end situations like that. Beyond Reduce, Reuse and Recycle, it encourages innovative designs and values that attract both young and old. We catch up with some of the new business models, as well as the people buying into these novel products and services.

Guest:

Yasui Akihiro (Circular-economy researcher)

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This week my guest Anne Scherer, a professor of marketing at the University of Zurich who specializes in the psychological and societal impacts that result from the increased automation and digitization of the consumer-company relationship.

In this episode we focus on the details Anne covers in, You and AI, a book she co-authored with Cindry Candrian to bring an accessible understanding of the ways in which AI is shaping our lives. This takes on a tour of topics such as our symbiotic relationship with AI, manipulation, regulation, the proposed 6 month pause on AI development, the business advantages of better data policies around AI, the difference between artificial intelligence and human intelligence, and more.

Find out more about Anne and her book at annescherer.me.

Host:⁠⁠⁠⁠⁠⁠⁠ Steven Parton⁠⁠⁠⁠⁠⁠⁠ — ⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠ /⁠⁠⁠⁠⁠⁠⁠ Twitter⁠⁠⁠⁠⁠⁠⁠

Music by: Amine el Filali.

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Continue reading “Lofi Generator” | >

DaveAI, a leading virtual sales experience platform, is thrilled to announce the launch of its innovative 3D visualizer for Hindware, a renowned brand in the world of premium sanitaryware. This deployment sets new standards for the virtual showroom experience, providing Hindware customers with an unparalleled level of interactivity and realism.

DaveAI’s 3D visualizer marks an important step forward in the growth of virtual sales, enabling businesses and customers alike to engage with items in a transformative way. Users may now immerse themselves in a visually spectacular virtual environment, where every product detail is brought to life with incredible precision and lifelike accuracy, thanks to modern technology.

“We are excited to partner with DaveAI and bring the 3D visualizer to our customers” said Nitin Dhingra, CDO & Vice President at Hindware Limited. “This cutting-edge technology brings our extensive collection of quality sanitaryware to life in an entirely new way. Our customers can now explore and personalize imaginary bathroom facilities with unprecedented simplicity and realism. This deployment reflects Hindware’s dedication to providing excellent client experiences while remaining at the forefront of industry innovation. We are enthusiastic about the unlimited possibilities that this collaboration opens up, and are looking forward to seeing our customers interact with our products in this immersive virtual environment.”

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