Al and the Fourth Industrial Revolution

If #bigdata is the new oil, analytics is the combustion engine. #Data is only of benefit to business if it is used accordingly and capitalized. Analytics and Al increasingly enable the smart use of data and the associated automation and optimization of functions and processes to gain advantages in efficiency and competition. Al is not another industrial revolution. This is a new step on the path of the universe. The last time we had a step of that significance was 3.5 billion years ago with the invention of life. In recent years, #Al has catered for an immense leap in development in business practice. Whilst the #optimization and automation of production and logistics processes are focused on in particular in the scope of Industry #4.0, Al increasingly also addresses administrative, dispositive and planning processes in marketing, sales and management on the path towards the holistic algorithmic enterprise. Al as a possible mantra of the massive disruption of business models and the entering of fundamental new markets is asserting itself more and more. There are already many cross-sectoral use cases that give proof of the innovation and design potential of the core technology of the twenty first century. Decision-makers of all industrial nations and sectors are agreed. Yet there is a lack of a holistic evaluation and process model for the many postulated potentials to also be made use of. This book proposes an appropriate design and optimization approach. Equally, there is an immense potential for change and design for our society. Former US President Obama declared the training of data scientists a priority of the US education system in his keynote address on big data. Even in Germany, there are already the first data science studies to ensure the training of young talents. In spite of that, the "war of talents" is still on the rampage as the pool of staff is still very limited, with the demand remaining high in the long term. Furthermore, digital data and algorithms facilitate totally new business processes and models. The methods applied range from simple hands-on analytics with small data down to advanced analytics with big data such as Al. At present, there are a great many informatics-related explanations by experts on Al. In equal measure, there is a wide number of popular publications and discussions by the general public. What is missing is the bridging of the gap from Al technology and methodology to clear business scenarios and added values. IBM is currently roving around from company to company with Watson, but besides the teaser level, the question still remains open about the clear business application. This book bridges the gap between Al technology and methodology and the business use and business case for various industries. On the basis of a business Al reference model, various application scenarios and best practices are presented and discussed. After the great technological evolutionary steps of the Internet, mobiles and the Internet of Things, big data and Al are now stepping up to be the greatest ever evolutionary step. The industrial revolution enabled us to get rid of the limitations of physical work like these innovations enable us to overcome intellectual and creative limitations. We are thus in one of the most thrilling phases of humanity in which digital innovations fundamentally change the economy and society.

#AI #FourthIndustrialRevolution #BigData #DataAnalytics #DigitalTransformation #Industry4.0 #SmartData #Automation #Innovation #BusinessModelDisruption #DataScience #TalentWar #AlgorithmicEnterprise #IntellectualRevolution #FutureOfWork #BusinessStrategy #TechnologyTrends #DigitalInnovation #TransformativeTechnology #SocietalChange