It is no well- known that especially for travel decisions, most customers prefer going the heavily online mode. That is why the global travel and room booking leaders such as Expedia, Kayak and Trip Advisor have introduced well- defined algorithms to help customers with specific search queries. It also helps the agencies, direct business in a curated manner. Flight intermediaries such as Sky Scanner, Hopper and Google Flights have likewise introduced similar measures. A similar trend is also taking place with organized retail, as directed by the digital giants such as Alibaba and Amazon, using algorithms. Three kinds of digital curating engines are now emerging. The first lot are the market mappers, who simply conduct gargantuan quantities of data warehousing, which acts as a storehouse of customer insights. Google Shopping would be an apt example. Then, there are digital personal shoppers such as Thread and Netflix, who help customers curate their shopping lists, by extracting business intelligence from their history or shopping and lifestyle trends. Finally, there are the likes of Makeup Alley and Bazaar Voice who are the review aggregators. The entire retail experience is now curated by these sets of organized players.

Source:https://hbr.org/2019/01/how-retail-changes-when-algorithms-curate-everything-we-buy

Uploaded Date:22 January 2019

One of the industries at the forefront of growth in the ongoing digital age is that of the chatbots. The global chatbot market is topped predictably by the tech giants such as Microsoft, Google and Facebook. In fact, these three companies alone account for a staggering 97.5 % of the market share as per 2015 figures revealed by the Transparency Market Research. The same study also predicts that by the year 2024, this industry will be worth just short of a billion dollars. Among the regions, it is Asia- Pacific that is expected to top the worldwide sales and impact. Newer applications of chatbots are constantly being discovered, with the latest being scaled in the area of talent recruitment. Chatbots though still need little more pruning to make them ready to speak to humans using natural language. They also need to be more industry- specific. The trend will further pick up in the areas of technical support and customer service, but not be restricted to any of these. An increasing number of companies are trying to leverage the ongoing market traction.

Source:https://inc42.com/resources/emerging-chatbot-trends-need-know/

Uploaded Date:15 January 2019

The Blockchain technology has the potential to bring massive social benefits in the developing world. These were discussed at the recent Wharton India Economic Forum that was held in Philadelphia. Blockchain is especially in use in financial services and banking, agriculture and supply chains. One challenge facing this business innovation is the fact that a lot of laws in these developing countries have not incorporated such digital advancements. There are also some issues in its implementation. Kevin Werbach who is the Professor for Legal Studies at Wharton, has written a book The Blockchain and the New Architecture of Trust highlighting the further misconceptions surrounding Blockchain. In particular, he points out, how it is seen as a scam. The cities of Mumbai and Visakhapatnam have done much to use blockchain in their supply chains. Chandigarh meanwhile is using it for tracking of financial and legal records. Assam and Sikkim are also using it to help in governance patterns.

Source:http://knowledge.wharton.upenn.edu/article/blockchain-brings-social-benefits-emerging-economies/

Uploaded Date:07 January 2019

The newer suite of technologies comes in various forms. Some of these includes the likes of Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), automation, Industry 4.0 and business analytics. A number of top business executives believes that these technologies can boost business benefits by between thirty and fifty percent. Digitally reinvented incumbents can also leverage the same. Some key principles adopted by successful transformative companies have been identified. It all starts with developing a tech road map that can help curate new business models, while also successfully reinventing legacy businesses. Management training ought to be provided to the existing personnel to develop new opportunities. A modern technology environment needs to be built in at the firm. The entire data strategy needs to be devised to make it more valuable and accessible. The strategic value needs to be captured from the tech used in the operating model.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-cornerstones-of-large-scale-technology-transformation

Uploaded Date:07 January 2019