Home Tags Artificial Intelligence (AI)
Tag: Artificial Intelligence (AI)
Technology is fundamentally changing our relationship with money. Fact. What we do for entertainment, how we get from point A to point B and even the most mundane routines such as grocery shopping are exponentially changing, on a daily basis. We are also seeing substantial changes in our relationship with money, specifically in the way we manage our money.
Originally, process automation was implemented to good effect in the manufacturing space for almost a hundred years. It started as mechanical automation of parts in the early 1920s. In the 1970s, huge manufacturing efficiencies were gained through the adoption of Computer Integrated Manufacturing (CIM).
As we progress further into Industry 4.0, finance needs to further leverage new technologies to add real value to a business’s bottom-line, yet it remains in its infancy stages. Industry 4.0 has impacted a range of industries, and with the digitisation of industrial value chains, many forget about finance, which has only touched the tip of the iceberg when it comes to leveraging new technologies.
With economic growth considered the main driver of corporate travel, emerging economies such as South Africa are increasingly adding to the international pool of business travellers. Predicting positive growth in 2020, analysts say there is good news for South African SMEs, whose bargaining power they see rising with the market’s size and spend.
There is a technology that is disrupting the workplace, it’s called Robotic Process Automation (RPA). Using software ‘robots’ to mimic repetitive human interactions with computers, this technology can do these tasks much faster, without any rest and no errors that human are prone to making.
Digital innovation is accelerating in South Africa - from call centres using chatbots and automatic transcription to improve customer service, to financial advisors harnessing machine learning and data analytics, rapidly matching client and solution, and emerging use cases of Internet of Things (IoT) sensors and AR/VR training in the mining and manufacturing sectors.
As the Fourth Industrial Revolution rages on, there needs to be a greater shift towards adopting an interconnected way of thinking if humans are to truly engage and optimise 4IR and beyond.
Thanks to digitalisation and the effective analysis of data, marketing continues to become more personalised and contextual. In fact, digital technologies enable companies to provide customers with relevant and quality experiences reflective of today’s real-time world.
The Fourth Industrial Revolution (4IR) can and will deliver South Africa from the jobs and growth crisis in which it is mired. That is the truism that is being widely peddled as the panacea to the triple threat of poverty, unemployment and inequality in which the country finds itself.