We live in a world where increasingly globalisation is under threat. The biggest threat comes from trade wars, started by Mr Trump, that could significantly harm the world economy. This week, the International Monetary Fund warned that Trump’s trade war could cost the global economy $430 billion in 2020. As the IMF’s report states, all countries will suffer, but the USA the most. Trade wars also affect the oil prices, which went down more than 4%. Trade wars are bad for the global economy as, in the interconnected world that we live in, it will affect everyone; from small business to large conglomerates. It is a war with only losers.
Trump’s nationalism has an unexpected side effect as it is uniting different nationalist movements across the globe. Such an international nationalist movement sounds like a contradiction, but the truth is that increasingly disparate, local, nationalist parties are working together and learning from each other. They usually focus on immigration and economic protectionism, thereby further threatening globalisation.
With globalisation at risk, it is time to find new ways to work together and change how globalisation functions. The USA might still be the largest economy in terms of nominal GDP but there is too ...
We really are in the midst of a data revolution. With a huge amount of data being generated every day, organizations in the current world are encircled left, right, and center by data and the analytic tools that are required for handling it. Leveraging this data has given companies unprecedented insights into different customer preferences and how they can cater to these needs. So, with all the emphasis on data and the capabilities it holds in the current world, should there be a question regarding data ethics?
Recently, I got a chance to attend Sapphire by SAP. At the occasion, I was asked to moderate the International Society of Chief Data Officers event along with Franz Faerber, Executive Vice President at SAP, and Michael Servaes, Executive Director, International Society of Chief Data Officers. The event was graced by some very knowledgeable attendees, who shed light on the importance of data ethics, and what the way forward is.
Speaking at the event, I talked about the different uses of data in place within the world today, and how that shapes our present and our future. Most of the companies today are not competing with their competitors anymore, but they are now up against the bar that ...
Already, AI is making waves in most industries. Experts are expecting that it will have a huge impact on most aspects of our lives, including helping us drive better, take over for customer support at businesses, and even provide each of us with a personal assistant.
One of AI’s biggest advantages over humans is its ability to analyze massive amounts of data and handle multiple tasks at once. Alongside humans, AI can also learn and constantly improve at a task to best accomplish its goal. If that goal is to help us be healthier, then it could really make an impact in the personal health world.
Combining IoT Health Devices With an AI
Fitbits, smartwatches, calorie trackers — heck, there is even a smart fork that tells you how quickly to eat. We have tons of devices designed to track our personal health, each inputting quite a bit of data. Some try to use that data to better themselves, but it’s likely a lot of useful data goes unused.
Enter AI into monitoring your health. An AI could fully analyze data from IoT devices to help the user better understand their health efforts. By analyzing this data over time, combined with personal assessments of ...
In today’s day and age, data migration is something most growing businesses eventually face. Unfortunately, very few executives are adequately prepared for how to handle it. Are you confident that your business can take on data migration and survive to tell about it?
Overcoming Key Data Migration Challenges
A study from Bloor Research shows that the failure rate for data migration projects is an astonishing 38 percent. In other words, more than one out of every three data migration projects experiences a hiccup, which can prevent businesses from performing normal business activities, hurt their reputation, and potentially costs thousands of dollars when it’s all said and done.
The big question is why? Why is data migration so difficult in today’s business climate? According to NetApp, the answer is “data gravity.”
Data gravity is essentially a metaphor used to describe how data attracts other data as it grows; how this data is integrated into an organization; and how the data becomes customized over a period of time.
When it comes to moving data from physical storage and servers to cloud infrastructures, the gravity becomes even more intense. This often leads executives to make big mistakes and oversights, such as these:
When virtual reality became affordable and client-friendly, it started growing popular. Nowadays, most businesses are keen on the opportunities formed by this technology. It is not a big shock because people can have the freedom to see things that only exist in the digital world. In the digital world, you can be able to understand objects by getting their description. In this article, you will get to learn some of the fantastic ways in which virtual reality can help your business succeed.
1. VR has an impact on all business fields
The release of VR headsets last year helps in the entertainment industry. All business processes like marketing, finance, and HR can be easily simulated in Virtual Reality. The duties performed by the VR can be divided into training and practical application. When it comes to the practical application, people can be able to carry out their duties without being present. Additionally, you can be able to interact with and model real-world objects that are not feasible in reality. On the other hand, the training part of VR allows the user to put themselves in situations that can be simulated on a computer. An excellent example of a technology that is common ...
Profit and Loss (P&L) statements permeate businesses due to the need to track how a business is performing at overall, business unit, and even project-by-project levels. This blog raises a question: why shouldn’t an analytics plan be expected as a part of the business plan for any major initiative just like a P&L is? During some recent client discussions, it became apparent that the necessity of thinking about analytics up front must be reinforced and promoted by those of us in the analytics and data science community. Over time, it will then become standard practice for the broader business community.
A P&L Is A Given
It is widely accepted that if someone is asked to invest in anything of substance within the business world, they’re going to want to see an estimated P&L up front as part of the business plan. Then, if an investment is made, there will be an expectation of receiving ongoing P&L updates in terms of both performance-to-date and projected-performance moving forward. I doubt that many people would argue with this expectation or be surprised by it. The need for a P&L as part of a business plan is simply accepted.
This expectation to have a P&L makes sense. After ...
Artificial intelligence (AI) is quickly becoming an integral facet within many businesses. Artificial Intelligence serves various functions within a corporation and helps to streamline business processes, which will allow your company to perform more effectively and reach organizational goals more efficiently. AI will likely begin to play a more significant role in the way that companies operate as the software continues to advance and moves towards the forefront of the industry. As previously mentioned, artificial intelligence can enhance various facets of effectively managing a business, some of which are as follows:
Artificial intelligence is already being utilized within various company's customer support departments throughout the world, and nearly everyone has interacted with the software at one point or another. For example, when you call a customer support hotline and are greeted by a robotic answering system, this is a form of artificial intelligence. This software is programmed with automated responses that help guide you through the customer support process.
Artificial intelligence is also helpful in generating purchase recommendations and future purchase predictions. This software is beneficial because it can help to increase a company's overall sales by creating a personalized shopping experience for customers. By offering tailored recommendations that are ...
With 2018 halfway over, I call on everyone to forget your organization for a moment and make a conscience plan to invest in yourself. 1-2-3. Think of it as "three steps to a better me." It's fun too!
Here is an assignment for us now (should you decide to accept it): do one thing in each of three categories: HPC, AI, Cloud.
Our assignment for HPC is this: Complete at least one of the following three choices. Extra credit: splurge on yourself and do all three.
Ask vendors for recommendations on how to get a day of technical training that sounds interesting to you and your team. Of course, you can do a Google search and find many online courses and videos on your own. Regardless of how you find the content – give it your full attention and learn!
Attend an HPC conference, and find time to soak it in. The International Supercomputing Conference in Germany (just completed this year), and Supercomputing in the USA (coming up in November!), are the two largest to consider. The key is to give yourself time to engage!
Attend a User Group for a software package (CFD, CAD, etc.) you use or think you should learn about. This is ...
If you’ve followed the news in the last year, you have probably heard about at least one “major” data breach exposing the information of millions of Americans. In 2017, there were a record-breaking 1,579 reported data breaches, a 44.7% increase over the numbers reported in 2016 (which was also a record-breaking year).
This explosive growth in the number of reported breaches each year clearly points to an issue in how personal data is collected and stored by organizations and corporations. To address this issue, we have examined the biggest four data breaches reported in 2017 and identified commonalities between the company’s handling of data that led to the breach. A single technology, edge security could have prevented all four of these breaches and the majority of the other 1,574.
The “Big Four”
When discussing the big data breaches of 2017, four quickly come to mind: Equifax, Deep Root Analytics, Uber, and Yahoo. In all four cases, a company trusted with personal information failed to properly secure it, leading to its exposure when their systems were breached.
When asked about the biggest data breach of 2017, most people’s minds go directly to Equifax. The credit monitoring company discovered in July 2017 that a hacker had ...
Digital technology and the rise of big data has spurred ongoing questions about maintaining integrity - in business and marketing. Business leaders are experiencing a new paradigm where everyone must take into consideration important issues, such as privacy, tracking and how we are utilising data for personal use and profit.
Despite the global proliferation of technology, technological literacy among consumers is deteriorating. As a result, there’s an increased need to implement ethical protections that ensure the privacy of consumers. With the evolution of big data and digital marketing, it’s more important than ever to uphold values that align companies with ethical standards.
Ethics encompasses how people react when faced with moral decisions. Transparency, as well as how companies use data and influence their customers, are key components of the standards that promote ethical corporate behaviour. For enterprises, there’s a need for clearly defined ethical policies that align with company values and behaviours and empower staff members to make consistent and exemplary moral decisions.
As is often the case, technology has preceded ahead of ethics. In some instances, this has resulted in marketing initiatives that place the pursuit of profit over consumer interests. Fortunately, industry leaders are hastily recognising the need to protect consumers, ...