Future Industries
Technology drives data, data __________ knowledge, and knowledge enables empowerment
1)unlocks
2)implement
3)catalyses
4)utilize
Technology drives data, data catalyses knowledge, and knowledge enables empowerment
ExOs and tech companies such as Facebook, Google and Netflix are just some of the many companies leveraging this “secret currency”. Today ______ has become the new oil. It is arguably the world’s most valuable resource.
What word is missing?
Data
What are the examples of business process automation?
Automatic sending of emails, Document monitoring, Error detection, Communicating with clients via chatbots and voice assistants, Generating reports, Order processing
Name the types of work models?
On-site work, Remote work, Hybrid work
Give the definition of «Emerging Technology»
Emerging Technology is a term generally used to describe a new technology, but it may also refer to the continuing development of an existing technology. Emerging technologies are characterized by radical novelty, relatively fast growth, coherence, prominent impact.
Give the definition of «Algorithmic Business»
Algorithmic Business is the industrialised use of complex mathematical algorithms pivotal to driving improved business decisions or process automation for competitive differentiation.
a) Robotic Process Automation (RPA)
b) Business Process Automation (BPA)
c) Automation
d) Workflow automation
1) the use of technology to execute recurring tasks or processes in a business where manual efforts can be replaced
2) the design and execution of automated processes to complete tasks or to route data and files between people and systems based on business rules;
3) the technique or system of operating or controlling a process by highly automatic means, as by electronic devices, reducing human intervention to a minimum;
4) the term used for software tools that partially or fully automate human activities that are manual, rule-based, and repetitive;
a-4
b-1
c-3
d-2
What does «Remote working» is?
Remote working, also known as telecommuting, refers to working anywhere outside the workplace. The fully remote work model allows employees to work from any location they choose full-time, home or internationally, rather than in an office.
What is the difference between Machine learning (MR) and Artificial Intelligence (AI)?
AI is a broader concept. It refers to the overarching field of simulating human intelligence in machines. This encompasses a wide range of capabilities such as learning, problem-solving, reasoning, perception, and decision-making.
Machine learning is a specific approach within AI that focuses on enabling machines to learn from data without explicit programming.
AI is the big picture, the overarching goal of creating intelligent machines.
Machine learning is one of the tools used to achieve that goal.
What are some real-world examples of algorithms impacting our daily lives?
Search engines
Smart home devices
Social media
Travel and navigation
Financial services
Online shopping
Personal assistants
Image recognition
Language translation
Why companies adopt business automation solutions?
Companies adopt business automation solutions to produce products faster, cheaper, and at a higher scale. By doing so, organisations are automating time-consuming tasks and replacing humans with machines. Automation can help minimize errors and speed up the overall process.
With automated security services, companies can detect and respond to threats more efficiently to maintain the highest level of protection. It also helps companies prevent issues such as data breaches or unauthorized access. Automation tools also improve the overall employee experience and top recruitment automation tools help to find the right candidate for your project.
What are the advantages and disadvantages of hybrid work?
Advantages:
The hybrid work model provides more freedom and flexibility to employees
Encourages better collaboration
Increases productivity and job satisfaction
Improves work-life balance
Cost savings
Disadvantages:
Reduced in-person social interaction
Communication and collaboration challenges
Maintaining company culture
Technology and infrastructure requirements
Potential for work-life imbalance
Inequality and accessibility concerns
Define the emerging technology trends in healthcare
AI is becoming increasingly effective in diagnosing medical issues as well as supporting treatment plans. In tomorrow’s world, cancer will probably be managed like any chronic health condition – we will be able to precisely identify what we may be facing and be empowered to overcome it. In other words, a new normal will emerge in how we can manage cancer. We will see more early and proactive screening with improved diagnostics innovation, such as in better genome sequencing technology or in liquid biopsy, that promises higher ease of testing, higher accuracy and ideally at an affordable cost. 3D printing creates customized medical devices, implants to individual patient needs
How businesses work with data?
Businesses are generating vast amounts of data across various fields. They are learning more about their customers, route optimisations, supplier information and more. Data helps in identifying target audiences, optimizing campaigns, personalizing customer experiences, forecasting financial performance, managing risks, and optimizing investments. Collecting data is not the issue; rather, it’s what an organisation does with all of it. How they turn that big data into proprietary algorithms will determine the impact an organisation can achieve. And, as we well know, the only way to process that much data is through some type of algorithmic-based software.
What are multiple benefits and possible drawbacks of using business process automation tools, once you have automated your business processes?
Automating business processes can significantly impact your organization, offering numerous benefits.
Benefits:
Increased Efficiency and Productivity:
Lower Labor Costs: Automating tasks minimizes the need for manual intervention, potentially reducing staffing needs.
Reduced Operational Costs: Streamlined processes eliminate waste and optimize resource utilization.
Improved Decision-making.
Improved Customer Experience.
Drawbacks:
Implementation Costs: Initial investment in BPA software and infrastructure can be significant.
Lack of Flexibility: Automated processes may not adapt well to unexpected changes or exceptions.
Overdependence on Technology: Reliance on automation can lead to challenges during system outages or technical issues.
What kind of work model do you think will be popular in 20 years and why?
Predicting the future of work with certainty is challenging, but by analyzing current trends and technological advancements, we can identify potential work models that might gain popularity in 20 years:
1. Hybrid and Remote Work: The desire for work-life balance and flexibility will likely continue to drive the popularity of hybrid and remote work models. Businesses can access a wider pool of talent regardless of location.
2. Independent Work: rise of freelancing and contract work, project-based work (businesses may increasingly rely on freelancers and independent contractors for specific projects)
It's important to note that these trends may vary across industries and regions.