Webinar on 'Blockchain of Intelligent Things' - October 10, 2020
Errol van Engelen TechBusinessDeveloper
Helping AI & Tech Vendors expand their Business || Account Management | Sales | Business Innovation | Speaker || Target Market Tech Startups & SMEs
On October 10, my friends at Sourcing and Supply Chain (SSC) hosted a webinar on “Blockchain of Intelligent Things“ an informative and interactive session centered around my book “Emerging Technologies: Blockchain of Intelligent Things to Boost Revenues“. In this webinar we explored the convergence of Blockchain, Internet of Things (IoT) and Artificial Intelligence (AI) and its opportunities and challenges in the Industry. To stay ahead in a career, understanding digital trends is supremely important. Wanna see what the webinar covered?
My presentation covered the following topics:
- Convergence of Blockchain and Internet of Things. IoT and blockchain combined can provide benefits across several industries, and in that way speed up the adoption of both technologies
- Applications and Projects. What are the benefits and drawbacks of each blockchain-based platform described in this chapter
- Industries and Verticals Being Disrupted. Very disrupted industries include automotive, banking and financial services, energy, government, health care, manufacturing, and supply chain and logistics
- Convergence of Blockchain, IoT and AI. The business value when converging blockchain, IoT, and data science or AI
- Required Future Skills and Jobs. What are the skills and functions with the highest priority?
- Industrial (IIoT) Platforms. Key Factors to consider when selecting your IIoT platform
- Opportunities, Challenges and Trends. There are many opportunities enabling Innovations, improving business value and to combat terrorism and crime.
Topic #1 - Convergence of Blockchain and Internet of Things
IBM and Maersk are trying to improve and speed up a very complex and time-consuming process of international trade and shipping and bring transparency to its unavoidable bureaucracy. Blockchain technology with IoT and sensor data ranging from temperature control to container weight enable shippers, shipping lines, freight forwarders, port and terminal operators, inland transportation, and customs authorities to interact more efficiently through real-time access to shipping data and shipping documents in a single shared view of a transaction without compromising details, privacy, or confidentiality. Using blockchain, smart contracts allow all these parties involved in international trade to collaborate in cross-organizational business processes and information exchanges, all backed by a secure, reputable audit trail.
Topic #2 - Applications and Projects - IOTA
One of the biggest projects in blockchain and IoT is IOTA (short for Internet of Things Application). IOTA can’t be categorized as a blockchain project since it’s based on a completely novel invention called “The Tangle.” The Tangle is a new data structure which doesn’t depend on blocks, chains, and miners. Instead it employs a decentralized, blockless, peer-to-peer architecture called “Directed Acrylic Graph” (DAG).
IOTA is a very big project. Overall, 354 unique entities have shown interest in IOTA, including 68 official partnerships/collaborators, 135 entities working with the foundation on joint projects, 77 IOTA Data Marketplace participants, and 56 entities that built one or more IOTA-based proof-of-concepts and 49 references to academic publications about IOTA.
Topic #3 - Industries and verticals being disrupted - supply chain
The supply chain is an integral element of global commerce. The supply chain network, however, is highly centralized, with third parties managing virtually every step of the supply chain process. Supply chain managers who embrace technology may see an exponential growth effect, because digital business planning solutions can lower product innovation costs by 10 percent, in turn reducing new product lead times by 30 percent. Applied to the supply chain industry, distributed ledger networks not only confirm payment, but also track goods in transport, confirm delivery status, and track warehousing. One of the most interesting applications of blockchain technology in the supply chain industry is the use of smart contracts. In the supply chain, smart contracts can be used, for example, to trigger the delivery of an order once payment is recorded on the blockchain. Other ways that the blockchain can benefit supply chain managers and their companies include greater transparency and accountability between suppliers; a ledger of manifests, departure, and arrival times; and a reduction in human error across the board thanks to more widespread automation.
Topic #4 - Convergence of Blockchain, IoT and AI - Intelligent supply chain
Blockchain of Intelligent Things (BoIT) is changing logistics quite a lot. Some examples:
- Accurate Information Processing: There is so much data floating around in a B2B company that if it is not identified and segmented properly, there will be chaos
- Big Data: The number of ways Big Data can benefit mankind is only getting bigger. The data that you get in logistics is not always refined, which is where AI comes into play by using algorithms to clean the data
- BoIT assists in last-mile delivery: The focus of last-mile delivery is to ensure that the goods reach the customer as fast as possible
- BoIT helps with demand forecasting: One of the most game-changing aspects of BoIT in logistics is going to be its ability to predict demand, optimize delivery routes and manage networks
- Creates contingency plans: BoIT is trained in such a way that it cannot only prepare for requirements but also predict the best method to tackle such situations.
- Intelligent Warehousing: Online grocer Ocado’s Andover (England) warehouse is entirely run by robots. It fulfills more than 65,000 orders every week. The AI is so smart that items which are rarely ordered are kept at the bottom while the ones that are frequently ordered can be seen on the top
- Real-time decision making: In logistics, there are a wide range of tasks that require data to make decisions. For example, finding the best possible route, scheduling and choosing the most optimal carrier
Topic #5 - Required future skills and jobs - Humans and robots
Imagine your workplace ten years from now. Chances are it’ll be very different from today thanks to fast-evolving technologies that are changing the nature of work, the dynamics of the workforce, and the notion of the workplace.
To stay relevant and competitive, you need to understand the impact of emerging technologies on the future of work. You must incorporate these innovations strategically to attract the right talent, increase efficiencies, and improve the bottom line.
The common scenario says that the future workforce will consist of humans who will be working with robots. Another scenario says that robots will overtake the world. It will probably take a decade to find out what the scenario will be.
Topic #6 - Industrial IoT (IIoT) Platforms - Cumulocity IIoT
Best scoring IIoT platform according to Gartner is Software AG’s Cumulocity. This platform gives you very fast visibility and control over your remote assets, be these houses, cars, machines or any other assets that you need to manage.
Cumulocity provides:
- APIs for extending the existing functionality or interfacing Cumulocity with your other IT services such as ERP or CRM systems
- Certified software libraries you can use to bring your remote assets into the cloud
- Device management, data visualization and remote control functionality through the web
- Rapid customization of the above through real-time processing and Cumulocity applications
Topic #7 - Opportunities, Challenges and Trends - Autonomous intelligent vehicles
Some of the future trends are in autonomous and intelligent things. Gartner predicts that in the next couple of years the objects will be exponentially based on which there will be several AI systems such as robots, autonomous vehicles, drones, appliances and intelligent agents. Gartner predicts that within a few years any type of service, application and object based on the IoT will integrate some form of AI to automate human processes, decisions and/or actions also collaboratively human-to-machine and machine-to-machine. Pervasiveness is what will make the difference: it will no longer be just about having intelligent objects and systems in our world but seeing a swarm of intelligent things that work together. A possible scenario thanks to the Blockchain of Intelligent Things
Bonus: Offer on my Books
Discount for My Books Through 10/30
ORDER YOUR COPY TODAY!
Online: https://bit.ly/3kpLbVa
Mention Code ERR2020 for 15% Off for "New World"
Mention Code ENG2020 for 15% Off for "Emerging Technologies"
Order Both! For 35% Off! Mention Code EVE2020
Don't forget to put your questions and feedback in the comments.
Here's the webinar:
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