Much-debated technologies

The article by Nadya Knysh, Managing director at a1qa, North America, was published on LinkedIn.

Current technology, like AI/ML, IoT, quantum computing, intelligent automation, among others, help leaders accelerate business growth, increase ROI, and stay ahead of the curve. Provided they are implemented correctly, and companies have assessed all possible implications for both the organization and their end users.

Today, we will discuss with Nadya Knysh, Managing director at a1qa, North America, 6 topical technologies, the challenges businesses should be ready for when applying them, and the ways to overcome them.

Let’s get started!

AI/ML. Businesses spend millions, even billions, for AI/ML enhancement and development. In your opinion, which industry will be most impacted by AI/ML and why?

“I believe that healthcare will experience the biggest and most unexpected benefits from extending ML/AI technologies application. Healthcare is an industry where decision-making is happening not just on a daily basis but on a second-by-second basis for billions of patients. There are two additional factors here.

Another factor is the cost of a mistake — and we are talking about people’s lives here. Again, having additional information on protocols and diagnostics can help avoid such mistakes, especially for real cases.”

Intelligent automation. When implemented correctly, it provides companies with powerful benefits. However, not all businesses succeed in that. What’s the main cause of this?

“Intelligent automation has proven itself as a successful approach to re-invent many businesses and their operations. I think the most common barrier when implementing it is the idea that it’s easy and quick. Unfortunately, in many cases, it’s not. And in quite a few, it won’t be 100% the same as it was before with a human being.

One will most likely have to structure (and simplify) business processes before automation, and others will have to learn to live with that. The implementation will probably be in stages, and one will have to work with a machine and a human being at the same time. Perhaps you’ll have to go through a cultural change in the company and the acceptance of the new approach to doing things may not always be that easy.

My main advice here is to make sure you plan thoroughly: start with uncomplicated tasks — they are easy to implement and adopt. While working on simple operations, review more complex, multi-steps processes: can those be simplified? Can they be broken into smaller pieces? You’ll likely have to work with people who are not tech-savvy too — be patient and listen.”

IoT devices for home. This technology is evolving by leaps and bounds. What new IoT features can we witness in the future?

“It may sound a little futuristic and maybe scary too, but my guess is that the next big step for in-home IoT is human habits learning and analysis. As for today, you can easily find an oven that you can start pre-heating on your way home or a washer that will begin working with an app click while you are sitting on your couch.

With AI development and big data that can be collected, I can see your oven connecting to your car. And your car sends a signal to your oven to turn on as it knows when you are on the way home and what the traffic situation is. Or your oven knows that you normally have a glass of wine at happy hour on Friday night and will turn on an hour later on Fridays. The accuracy of such behavior predictions is very questionable, of course, but some patterns are easier to manage and may be a good start for some individuals. So, who knows?”

Blockchain. What industry can it bring the most transparency to?

“This may be quite an obvious answer, but anything involving banking and finance. It’s not a surprise that money-related fraud is on the rise, whether it’s traditional banking, online payments, or crypto.

We all know the downsides of blockchain and specifically the performance of such a technological solution, however, I believe that the performance can be improved significantly in the near future. With this in mind, we’ll see more blockchain-based alternatives to the third-party services that we are used to now (e.g., PayPal, Square, or Stripe). Such services will not only bring additional security but also convenience to customers, different currency support, and international transactions.”

Feel free to read the full article here.

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