August 19 – 5 Key Stories From The Digital World

By August 18, 2019 Finance, Insight

1. Ikea goes all in on smart home tech

  • With access to 780 million shoppers who visit Ikea stores each year, the announcement also serves as a wake-up call to smart home incumbents like Google and Amazon
  • Ikea has so far taken a platform agnostic approach, supporting the Google Assistant, Siri, and Alexa ecosystems through its Tradfri gateway
  • IDC predicts global sales of about 830 million smart home devices in 2019 before doubling to 1.6 billion in 2023…no wonder then that the company is so optimistic about expanding beyond conventional home furnishings

2. Next-generation supply chain—transforming your supply chain operating model for a digital world

  • Advanced analytics allow more precise planning, and efficiency and effectiveness also rise when planners are freed up from repetitive tasks and can concentrate on value-adding activities…studies have shown that current technologies could automate an average of 45 percent of human activities
  • Digitization enables a deeper integration of planning and management steps—e.g., joint optimization of tactical production planning and operational scheduling: not only does that lead to better planning results, it also makes it easier to automate processes end to end
  • By reducing organizational components to the bare minimum for continued existence and then adding on the tasks, skills, and resources that have a clear added value and that meet the digital requirements, companies can identify the most important roles in the company and staff them with the right amount of talent

3.  This is what many B2B companies are doing wrong when they build products

  • more often than not, the actual end users of your product sit in a different department and live in a different reality than the buyers with whom you typically communicate
  • Over the course of a year, every single Hearsay employee, from engineers and product teams to our accountants, support staff, and recruiters have had similar experiences sitting down with end users
  • We learned the importance of prioritizing the products we should build, versus producing products just because we can or because someone at HQ thought it sounded cool

4. Nvidia CEO: AI is the single most powerful force of our time

  • company’s near-term growth will come from gaming and a couple of variants of the company’s artificial intelligence chip business: inferencing and AI at the edge
  • Huang said artificial intelligence is the “single most powerful force of our time” and that there are more than 4,000 AI startups working with the company — as compared to 2,000 AI startups in April 2017
  • Huang said that thousands of AI startups are using AI platforms to develop applications in the cloud, and they are turning around and providing these applications to big companies in vertical industries like retail, banking, cybersecurity, delivery robots, and others

5. Google Sets Its Sights On Smart Clothing With New Patent

  • Google envisions a future where smart clothing is used to capture biometric data and track movements to help improve training for athletes and reduce strain for factory workers
  • new patent may put Google in a position to further capitalize on connected fashion by monitoring movement and providing ergonomic assessments, mainly geared towards athletes and workers performing manual labor
  • patent outlines the two primary components required for this type of smart garment: electrically conductive yarn and embedded sensors…weaving the yarn into regular threading, these garments would remain flexible and comfortable for users