Saturday December 15, 2018
Home Business 92 Percent Bu...

92 Percent Business Leaders in India believe every organisation needs Digital Transformation to grow their Business: Study

Microsoft Asia Digital Transformation Study 2016 has revealed that artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important to digital transformation strategies

0
//
artificial intelligence, (representartional Image), wikimedia
Republish
Reprint

New Delhi, March 28, 2017: A whopping 92 percent of business leaders in India believe that every organisation needs a digital transformation to grow their business, a study has revealed.

The Microsoft Asia Digital Transformation Study 2016 has revealed that emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important and relevant to digital transformation strategies.

NewsGram brings to you latest new stories in India.

“Today, cloud-powered technologies such as IoT, AI and advanced data analytics are creating limitless possibilities in transforming the way people work, live and play. This is ushering in societal and economic changes at an unprecedented pace and organisations need to embrace this transformation to stay relevant,” Microsoft India President Anant Maheshwari said in a statement on Tuesday.

Further, 88 per cent Indians believe that cloud computing and decreasing cost of devices make it more affordable for companies of all sizes to access modern technology and help them gain a competitive advantage.

Indians also saw virtual reality (VR) and augmented reality as technology relevant to digital transformation among organisations than the rest of Asia.

Go to NewsGram and check out news related to political current issues.

Fifty-three per cent Indians indicated that their organisation had specific digital transformation strategies in place and were progressing in their journey to add digital elements, as against 49 percent Asians.

However, security, lack of digitally skilled workforce, lack of supportive government policies and IT infrastructure, uncertain economic environment and lack of leadership were ranked as the top five barriers to an organisation’s digital transformation journey in India.

The study polled business leaders working in mid-sized and large organisations from 13 Asia Pacific countries. (IANS)

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

Now Comes Artificial Intelligence (AI)-Designed Perfumes For Sale

The company also plans to introduce "Philyra" into their Perfumery School to help train the next generation of perfumers, firmly embedding AI into the heart of its organisation

0
perfumes
Artificial Intelligence now helps design novel perfumes.

Tech major IBM and Symrise, one of the top global producers of flavours and fragrances, have created industry’s first Artificial Intelligence (AI)-designed perfumes for sale.

The AI-based system named “Philyra” can learn about perfume formulas, raw materials, historical success data and industry trends, IBM Research said in a statement late on Saturday.

“Building on previous IBM research using AI to pair flavours and for recipe creation, as well as our new IBM Research AI for Product Composition, we created Philyra,” said Richard Goodwin, Principal Research Scientist, IBM Research.

The AI tool uses new and advanced Machine Learning (ML) algorithms to sift through hundreds of thousands of formulas and thousands of raw materials, helping identify patterns and novel combinations.

“Philyra does more than serve up inspiration – it can design entirely new fragrance formulas by exploring the entire landscape of fragrance combinations to discover the whitespaces in the global fragrance market,” Goodwin added.

When it comes to new perfume design, “Philyra” learns a distance model to identify fragrances that are close in smell to existing fragrances.

AI scenarios present ethical issues ranging from privacy, human rights, employment or other social issues.
The AI-based system named “Philyra” can learn about perfume formulas, raw materials, historical success data and industry trends. Pixabay

The larger the distance between a fragrance and its neighbours, the more novel the perfume is predicted to be.

Symrise has used “Philyra” to design two perfumes, scheduled to launch in mid-2019.

Symrise’s long-term goal is to introduce this technology to their master perfumers around the globe and continue to use the solution for the design of fragrances for personal care and home care products.

Also Read- People Hope to Get Transparency in System With #MeToo Movement

The company also plans to introduce “Philyra” into their Perfumery School to help train the next generation of perfumers, firmly embedding AI into the heart of its organisation.

“Our research continues to push the boundaries of augmenting human expertise using AI and demonstrating how AI can assist in domains where creativity is key,” said Goodwin. (IANS)