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Besides 5G, IoT and automation, key technologies such as AI and data alternation will play a crucial role in business operations.
Within a short period, companies have embraced remote working for their workers, pushing organizational improvements that would have taken years to prepare and carry out. This changed the attention of the company to the importance of adopting technologies in its operations across industries.
The growth of the open data movement and the realization that public sharing of data provides social and economic benefits might contribute to the opening up of many of these knowledge sources for corporations to innovate. Data exchanges like Terbine and Dawex are building the infrastructure required to inject liquidity into this evolving market.
key technologies such as AI and data alternation will play a crucial role in business operations (Photo: Neuromation)
AI and alternative data
Small enterprises have been lagging behind in harnessing the economic advantages of AI due to the shortage of sufficient data inputs for their algorithms. Only big companies were able to leverage these technologies since they had internal databases resulting from their activities or could afford to purchase data as needed. However, data ownership is not necessarily meant to create data-driven goods and services, as some creative uses of data indicate.
A common approach to the use of AI is data synthesis when developers search for rich datasets to train their programs. Continental, a car component supplier, is estimated to create an AI-based program that can produce 5,000 miles of vehicle test data per hour. Since collecting data with an actual vehicle would have taken as long as 20 days, Intel Labs and Darmstadt University in Germany have utilized the video game Grand Theft Auto to do such thing, helping help train autonomous vehicles.
To evaluate the effects of COVID-19 on the economy, specifically decide which stocks to purchase or sell, many major banks have been trying new approaches regarding data sources. For example, it is better to buy and leverage travel websites, insurance companies and job sites than those from the monthly government statistics and companies’ financial reports.
In response to challenges posed by the current lockdowns, companies are realizing the vital role of evaluating and predicting the future of the economy post COVID. Enterprises now are putting more time and effort into utilizing and assessing the data to make better predictions as businesses will not be back to the normal before the pandemic.
Source: CIO ASEAN
About us: TMA Solutions was established in 1997 to provide quality software outsourcing services to leading companies worldwide. We are one of the largest software outsourcing companies in Vietnam with 2,500 engineers.
Visit us at https://www.tmasolutions.com/
Within a short period, companies have embraced remote working for their workers, pushing organizational improvements that would have taken years to prepare and carry out. This changed the attention of the company to the importance of adopting technologies in its operations across industries.
The growth of the open data movement and the realization that public sharing of data provides social and economic benefits might contribute to the opening up of many of these knowledge sources for corporations to innovate. Data exchanges like Terbine and Dawex are building the infrastructure required to inject liquidity into this evolving market.
key technologies such as AI and data alternation will play a crucial role in business operations (Photo: Neuromation)
AI and alternative data
Small enterprises have been lagging behind in harnessing the economic advantages of AI due to the shortage of sufficient data inputs for their algorithms. Only big companies were able to leverage these technologies since they had internal databases resulting from their activities or could afford to purchase data as needed. However, data ownership is not necessarily meant to create data-driven goods and services, as some creative uses of data indicate.
A common approach to the use of AI is data synthesis when developers search for rich datasets to train their programs. Continental, a car component supplier, is estimated to create an AI-based program that can produce 5,000 miles of vehicle test data per hour. Since collecting data with an actual vehicle would have taken as long as 20 days, Intel Labs and Darmstadt University in Germany have utilized the video game Grand Theft Auto to do such thing, helping help train autonomous vehicles.
To evaluate the effects of COVID-19 on the economy, specifically decide which stocks to purchase or sell, many major banks have been trying new approaches regarding data sources. For example, it is better to buy and leverage travel websites, insurance companies and job sites than those from the monthly government statistics and companies’ financial reports.
In response to challenges posed by the current lockdowns, companies are realizing the vital role of evaluating and predicting the future of the economy post COVID. Enterprises now are putting more time and effort into utilizing and assessing the data to make better predictions as businesses will not be back to the normal before the pandemic.
Source: CIO ASEAN
About us: TMA Solutions was established in 1997 to provide quality software outsourcing services to leading companies worldwide. We are one of the largest software outsourcing companies in Vietnam with 2,500 engineers.
Visit us at https://www.tmasolutions.com/
