ARTIFICIAL intelligence is being used in interesting ways across the Asia Pacific (APAC). Businesses in the region have been exploring how AI can help improve productivity, efficiency, and create new digital transformation and customer experience opportunities. Of course, the demand and adoption of AI applications in the APAC are driven by megatrends such as data availability, the furthering of the Industry 4.0 agenda, an population aging, and government support. According to a new Frost & Sullivan report, the efforts of leaders working on AI projects is paying off -- especially because of all the related technologies and concepts AI can bring to life. "With the convergence of Internet of Things (IoT) and communication technologies such as 5G, the future of AI application is all-pervasive," commented Frost & Sullivan Industry Analyst Cognitive Industry (AI and IoT), Information, and Communication Technologies Research and Practice Amy Lin.
THE DIGITAL lifestyle has pervaded every aspect of our lives – from banking and grocery shopping to even paying our taxes and brings us convenience. Every business is leveraging technology to attract and retain customers. Every online interaction – from our Facebook likes and connections on Instagram to our travel habits – contributes to an individual's online presence and digital identity. While companies can use this information customize their offerings to suit the consumer's buying patterns, the trade-off is that the high value of personal information in these digital identities brings a whole set of cybersecurity risks for both consumers and businesses. In an exclusive interview with Tech Wire Asia, Leonard Cheong, Managing Director of AdNovum Singapore discusses the challenges associated with data privacy and cybersecurity, and the role of machine learning (ML) in solving those problems.
WHEN manufacturers think of artificial intelligence (AI), they think of its ability to produce insights from data. Most manufacturers are keen on using AI to analyze demand and factor in lags in the supply chain to optimize operations, but forget the heavy equipment they're using. According to a new whitepaper, McKinsey argues that companies with heavy assets can reap great dividends if their operators start using AI to review their workflows and make necessary alterations. "AI can deliver improvements without capital-intensive equipment upgrades and thus produce attractive returns quickly," it says. The consulting giant finds that despite the advances in technology, operators of heavy machinery still rely on judgment and intuition to manually monitor signals and adjust settings, troubleshoot and run tests, and perform other tasks that strain the limits of their human capacity.
ASIA is a financial services giant, and Singapore and Hong Kong are two of its largest, most prestigious'international financial centers'. Ultra high net-worth individuals from across the region, and sometimes even overseas, invest in niche fund houses and funds with complex strategies -- all in search of'alpha' -- a return higher than the market benchmark. Up until now, generating alpha was the sole domain of gifted fund managers who used a mix of knowledge, experience, and their own brand of eccentricity. They made several bets, some of them panned out, some didn't, but the good ones managed to create oversized returns for investors from the overall portfolio. In today's day and age, however, AI can beat fund managers hands down.
NEW technologies can transform the logistics industry completely, and they're all ready for commercial deployment. The only thing they need is for leaders to drive the change. Making changes in the logistics space is quite difficult, because it involves not only changing processes and practices within the business but also influencing relevant third-parties in the logistics space to adopt the same changes. It's why the traditional logistics industry, dominated by pens, rubber stamps, and paper forms, hasn't changed much over the past several decades. For a meaningful change to be driven by, say a shipping line, they'll need corresponding changes to be made by exporters, road transport agents, the port and customs department at the home port and the destination port, and so on.