Artificial Intelligence (AI) in E-Commerce!

| November 30, 2019

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The convergence of Artificial Intelligence (AI) and the Retail industry is underway.  Further it has the potential for exponential dissemination across the Retail landscape in the future along with expansion of it’s applications and capabilities. From playing a role in managing the Customer Experience to providing Buying, Replenishment and Fulfillment capabilities to analyzing the ever growing expanse of Big Data, Artificial Intelligence (AI) is here to stay in Retail.

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AVEVA is a leading global provider of engineering, design and information management software solutions. For almost 50 years, AVEVA software has enabled the creation of the world’s most complex power and process plants, vessels and offshore facilities.

OTHER ARTICLES

Java is still the cornerstone of coding and this training can help get you started coding today

Article | March 2, 2020

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NEUROMORPHIC CHIPS: THE THIRD WAVE OF ARTIFICIAL INTELLIGENCE

Article | March 2, 2020

The age of traditional computers is reaching its limit. Without innovations taking place, it is difficult to move past the technology threshold. Hence it is necessary to bring major design transformation with improved performance that can change the way we view computers. The Moore’s law (named after Gordon Moore, in 1965) states that the number of transistors in a dense integrated circuit doubles about every two years while their price halves. But now the law is losing its validity. Hence hardware and software experts have come up with two solutions: Quantum Computing and Neuromorphic Computing. While quantum computing has made major strides, neuromorphic is still in its lab stage, until recently when Intel announced its neuromorphic chip, Loihi. This may indicate the third wave of Artificial Intelligence.

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DIGITAL TRANSFORMATION

The Holy Trinity of Transformation - Culture, Leadership and Sustainability

Article | March 2, 2020

Digital Transformation is not a magic wand; it is a complex yet essential enterprise commitment to change. Companies that have succeeded have reaped significant benefits. The Deloitte Digital Transformation Survey 2020 found that greater digital maturity is associated with better financial performance. The higher-maturity companies in this year’s sample were about 3X more likely than lower-maturity companies to report annual net revenue growth and net profit margins — a pattern that was consistent across industries. Unfortunately, most enterprises do not fully appreciate what it entails. Some see it as a technology or a budget problem; others believe it is an optional strategy — they are both wrong. To truly succeed, transformation needs to be led from the top by setting the strategy and allocating resources. Antonio Neri of HPE hits the spot when he says, “Digital transformation is no longer an option for enterprises, but a strategic imperative.” For me, one of the most significant examples of top-driven organisational change is Jeff Bezos’ call to “Rearchitecting the Firm” in 2002. It is a seminal work. The principles of this mandate went on to form the backbone of Amazon in the modern cloud world. It was clear, direct, and backed up by management action. More than 75% of CEOs agreed that the pandemic sped up their companies’ transformation plans COVID is a catalyst for change The flurry of digital technology solutions spurred by COVID-19 presents a unique opportunity for enterprises to rethink how technology decisions are made and apply them in new and meaningful ways. Covid-19 dramatically accelerated technology adoption across all industries. According to a Fortune-Deloitte CEO survey and the KPMG 2020 CEO Outlook Survey, more than 75% of CEOs agreed that the pandemic sped up their companies’ transformation plans. As Microsoft CEO Satya Nadella noted, “We’ve seen two years’ worth of digital transformation in two months.” 80% of companies plan to accelerate their companies’ digital transformation plans, primarily incentivized by the global pandemic implications. The same study also concludes that only 30% of digital transformations have achieved their objectives which is troubling. 80% of companies plan to accelerate their companies’ digital transformation plans, however only 30% of digital transformations have achieved their objectives - BCG Research Most people forget that digital transformation is less about technology and much more about the organization’s culture and business shift. Key stakeholders need to rethink customer experience, business models, and operations fundamentally. 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Do existing leadership teams have the skills to undertake true digital transformation? I thought it would be a good idea to look at how companies are hiring critical resources. A study by professors from Harvard and Darden and executives from Spencer Stuart published in the Harvard Business Review addressed this specific question. The team looked at more than 100 search criteria for C-suite positions in Fortune 1000 companies across a broad range of industries, and the results were very suggestive. There has been a rise in tech and digital expertise search even before the pandemic: 59% of executive searches included technological or digital knowledge. Company boards were asking for these skills across a wide variety of roles. This fact also suggests that people with the right skill sets are already in leadership positions. Not surprisingly, 100% of the specs for CIOs, CMOs, and CTOs sought technical or digital skills. However, the functions that got neglected in the search for technological and digital expertise were more revealing. Less than a third of the job specs for CHROs and chief accounting officers mentioned these required skills. Even more worrying — only 40–60% of searches for roles such as CEO, board director, and CFOs required digital know-how. At the very minimum, we need all leaders to understand how to build digital businesses. This shift alone could be the difference between success and failure. But is that enough for now? Almost every organization has stepped up its digital transformation efforts in 2020–21. Success is as much about the right technology platform choice as it is about leadership, agility, talent, and a clear vision. A new and emerging factor is consumers wanting the brands they use to focus on sustainability issues. So do employees and prospective employees. 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NVIDIA Helps Transportation Industry With AI Technology

Article | March 2, 2020

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Spotlight

AVEVA

AVEVA is a leading global provider of engineering, design and information management software solutions. For almost 50 years, AVEVA software has enabled the creation of the world’s most complex power and process plants, vessels and offshore facilities.

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