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Data And Technology For A Better World


Episode Thirty-Seven: Harnessing Data And Technology For A Better World


From Artificial Intelligence to Augmented Intelligence

Artificial Intelligence to Augmented Intelligence

5 Technologies For Upgrading IT Infrastructures and Engineering Business Growth

The rapidly evolving current IT world is relying heavily on engineering technologies that are intuitive in nature. These features help significantly in infrastructure up-gradation across organizations harnessing digital power and the internet. The recent pandemic has posed several setbacks to business growth, making new-age technologies more important than ever- both for survival and opportunities.

The Need For Newer Technologies

Market foresight helps business leaders make the right decisions for their organizations. The right knowledge and exposure help in making future-proof IT solutions that optimize cost efficiency reducing expenses, time, and effort. This can also lead to increased flexibility, scalability, and profitability.

Top 5 Gamechangers in Technology

People with modern IT awareness will acknowledge these 5 solutions as the most disruptive technologies of the present day:

  • Blockchain
  • Big Data Analytics
  • Artificial Intelligence/Machine-Learning
  • Cloud Storage.
  • Internet of Things.

Without further ado let us dive a little deeper into each of the aforementioned options.

  • Blockchain Technology

The distributed ledger sharing blockchain is the main infrastructure behind cryptocurrencies. In fact, blockchain was the underlying architecture behind Bitcoin, the world’s first decentralized token. While a foundational technology, blockchain can be easily implemented in existing infrastructures for better efficiency, reduced costs, and higher security.

Immutability, transparency, consensus, and provenance- the 4 fundamental blockchain properties make it a highly efficient option for storing and transmitting transaction records. Blockchains prevent unauthorized access, eliminating chances of data loss while assuring human privacy and safe partnerships through smart contracts. 6 out of 10 CIOs in existing companies believe in the power of blockchain and are planning to integrate them into their existing technologies. Blcockhains find their main uses across the banking and finance sector, logistics and supply chain, cybersecurity, digital identification, and many more.

Also Read: Layer 1 Blockchain and The Current Crypto Landscape

  • Big Data Analytics

Big data is one of the most trending data topics on the internet and for good reason. The technology refers to a setup consisting of frameworks and infrastructure built for handling huge sizes of data- chunks that conventional computing processes fail to process. The mass proliferation of smart devices and internet technology results in huge global data generation which is invaluable for businesses.

Big data technology filters and sifts through gigantic data chunks and deliver the following:

  1. Actionable Intel.
  2. Predictive analysis.
  3. CAD(computer-aided design) image variation testing.
  4. Data safeguarding.
  5. Splitting revenue channels.

Also Read: Blockchain and Big Data: An Ideal Symbiosis

  • Artificial Intelligence/Machine Learning

AI has grown leaps and bounds over the years from the days of being a mere research novelty to real-world applications. Cognitive engineering is still growing at a frantic pace, helping organizations make accurate predictions in customer demands and outcomes, along with Machine Learning.

AI can also be used to reduce manual efforts through AO-based chatbots for logging, tracking, and monitoring compliance requests. Overall, AI can be vastly useful in getting things done swiftly and efficiently while encouraging consumer involvement and loyalty.

Also Read: The Art of Humanizing Technology and AI

  • Cloud Storage

Cloud storage has played a key part in the global business transformation. The applications are practically limitless, boosting agility and scalability options for business organizations. The technology implements computer engineering tools for developing, running, and maintaining cloud computing system solutions.

Cloud computing has several advantages, particularly for businesses. To start things off, the services are much more cost-effective and economical especially for businesses with a digital infrastructure. The cloud grants access to a plethora of business applications through multiple suites and facilitate access to business data. Storage options vary from company to company and organizations can opt according to their requirements.

  • Internet of Things

IoT, or the Internet of Things, is an extremely disruptive technology that has useful applications across home, corporate workspace as well as industries(industrial IoT). Minimizing the requirement for human interactions in regular automated tasks, IoT helps in increasing the efficiency and productivity of employees.

IoT also contributes to sustainable development, saving energy through automation and lower requirements for human supervision. Compatible with other technologies, IoT is integral to the modern-day smart business, empowering them with new data source creation, performance updates in real-time, and making state-of-the-art value propositions.

Final Words

The onslaught on multiple innovations in computer technology and engineering makes it the best time to invest resources for an updated IT infrastructure. The US-based HashCash Consultants strive to make a positive impact across the lives and occupations of people on a global scale, offering their technical expertise for businesses looking for a digital transformation.


AI and ML

portfolios from the perspective of operations and risk analysis.

Technology has enabled faster and cleared communication between customers and banks. The process, however, has heightened the risk quotient for banking. This has made ground for banks to have automated processes based on systems that are scalable, time-variant, and capable of analyzing huge volumes of data. The goal of such systems should be maximizing profits while minimizing the risks and keeping the business-line managers in the loop to enable them to make informed business decisions.

Machine Learning (ML), Artificial Intelligence (AI) in amalgamation with Big Data technology provide the very platform that can deliver such large-scale analyses and predictions.

Also Read: Can Blockchain and Artificial Intelligence Prevent Future Pandemics?

The Data analytics approach applied to banking processes, target maximizing returns from assets while minimizing or balancing the liabilities.