Our core findings from the day as a sponsor of the event:
Just a hype? Yes, it's a hype - which comes mainly from the crypto currency area. In companies, blockchain is already a lived reality, especially to ensure transparency and sustainability. The biggest challenge here is the management's view on technology. Strategic foresight and an honest belief in the concept paired with a customer-oriented application have a positive effect on the added value that can be generated. In other words, use the blockchain if it really generates added value for the customer or the user. In addition, the technology thrives on the fact that content is further developed together and decentralization is really lived.
An example is the blockchain developed by TruBudget (KfW Bankengruppe) for controlling the use of budget funds for development aid in Ethiopia. The technology was mainly used to reduce fear of misappropriation and to enable the country to coordinate its own budget with all external support funds in a meaningful way. The technology is published and can be viewed at the following link https://openkfw.github.io/trubudget-website/.
Learn more about ow to ensure the return on digitalization in your company in our Digitalization Excellence for Executives-Training.
Machine Learning is a part of Artificial Intelligence and is used especially when structured data is available and the analytical solution by a human is not possible or useful. For example, machine learning can detect anomalies in large amounts of data (e.g. for identifying erroneous, criminal, unusual bookings in auditing). This is currently being used by retail companies to identify potential fraud in the areas of ordering and payment and to take risk-reducing precautions. Data-based behavior and user profiles are analyzed and payment options are adapted based on these data. For example, not everyone has the option of ordering on account.
However, these are only two technologies. For managers who also have to deal with the question of how to ensure a return on digitalization, we offer the Digitalization Excellence for Executives Training, a tailor-made training program.