| |April 202119·Smart Factory and Industry 4.0 is getting a huge boost with the advancement of AI and ML models. It's predicted that AI enabled robots will be able to take over 60% of precision jobs in factories once 5G communication becomes readily available. Post COVID there is a huge push towards near-shore manufacturing and modern factories will be built with modern robotics which can significantly enhance the entire global manufacturing supply chain. There is strong push towards creating of Digital Supply chain twin with the help of AI and ML models where various scenarios can be tested. This digital twin can help in accurately making manufacturing decisions there by enhancing productivity.· Moving from tex communication to Visual / Video ­ The advancement of Image processing and Video procession capabilities will help in moving towards a much different type of communication between sellers and consumers. Interactive commerce with help of bots is already a reality and will be enhanced in the coming years significantly. There is advent of real-time communication which is leading towards a new era of commerce. AI models can help understand customer behavior which will help in personalization and targeting for better interaction than human beings. ·AR/VR applications will emerge ­ The current AR /VR solutions are still maturing to give a near real life experience, but the advancements are moving much faster. Its predicted a large part of interactive commerce will be done by AR/VR channels by 2025. 5G streaming will also provide the necessary boost to have virtual stores which will have near real-life experience to feel merchandise as well as interact with selling agents. The fast moving towards virtual working will also be boosted by this advancement of AR/VR technologies. The above use cases are going to boost the way we work, shop and interact at a pace which was not seen in the past few decades. With this penetration of AI in all walks of life it's important to keep in mind that these needs to be done with a strong ethical framework. There has been a lot of talk about use of AI by creating biases which are favoring one party. These biases can have long term impact and hence Ethical AI is the need of the hour and it's important that everyone has a responsibility to build a responsible society. The other challenge to be aware of is the expansion of data is causing a huge impact on the carbon footprint on this planet. We need to ensure that with this explosion of data we keep on building solutions which can help in reduction of the carbon footprint in the long run. Each organization needs to define its own innovation journey to become an Intelligent Enterprise
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