Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data and information. IT forms part of information and communications technology (ICT). An information technology system (IT system) is generally an information system, a communications system, or, more specifically speaking, a computer system — including all hardware, software, and peripheral equipment — operated by a limited group of IT users.
McKinsey & Co tackles the big question on everyone’s lips nowadays: How exactly will the great succession of new technologies such as the Internet, the cloud, big data, robotics, machine learning, and artificial intelligence affect the future of our economy? While we are purposefully creating an intelligence that is external to humans and housed in what…
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According to Sean Culey, the supply chain of the future will be personalized, automated, and local, creating extraordinary changes that will delight consumers. Now here’s a guy that truly appreciates the behavior and the power of creative destruction. With the likes of Robotics, AI, autonomous vehicles, Big Data, 3D Printing, The Internet of Things, in…
An Old School Approach to Machine Failure Wins New Converts Lubrication-related equipment failure is a problem that plagues industrial facilities of all sizes and stripes. By some estimates, it causes as much a $1 trillion a year in reactive maintenance, unplanned downtime and lost productivity across the U.S. As we’ll see in a moment, failure…
Operational and Consulting guru Indy Dhami means that the growth and impact of Artificial Intelligence (AI) can be likened to the opening of Pandora’s pithos (which translates to a jar and not a box as it is incorrectly known). In the present day, is the eager development of AI (with the goal of giving it an innate…
On the premise that digitization is causing a radical reordering of traditional industry boundaries, McKinsey & Co. poses the question: What will it take to play offense and defense in tomorrow’s ecosystems? In an attempt to answer the question, this article delves into Japan’s single largest online retail marketplace: Rakuten Ichiba… Read more here
Bloomberg reports that for years now, the explosive growth of e-commerce has outpaced the underlying technology; companies wanting to set up shop have had to go to a bank, a payment processor, and “gateways” that handle connections between the two. This takes weeks, lots of people, and fee after fee. Then in 2010, Patrick and John…
