Seeking Solution to Reduce Industry Scepticism on Improvements Offered By New Technologies Like Blockchain and AI
Background
Present technology investment by companies may have already addressed industry business requirements and been generating the respective business benefits. Existing business process/flow already manage the needs well and new technologies do not bring too much of business values i.e. improved revenue and profit. Therefore, the adoption of new technology will not be able to justify the effort and immediate ROI. Many initiatives made available with respective pros and cons further complicate decision making in terms of showing interest of participation. Moreover, the trust over physical document, wet signature and company stamp is still higher than the technology trail.
Requirements
We are seeking solution that:
- Applies and embed new technologies into the current business process/flow in a manner to offer substantial values over existing solutions
- Uses new technologies to address immediate business needs
- Optimize business processes and reduce operational costs
The proposed solution should clearly articulate the gaps in the business process/flow of a particular industry (not limited to logistics) that they are addressing and how the implementation of new technologies like AI and blockchain in their solution can adequately address the gaps. Solution should offer substantial value over the existing solutions using conventional technologies and make it easy to switch to promote adoption.
Desired Outcome
Increase willingness to embrace new technologies, and participate in such initiatives.
Trade & Connectivity Challenge 2019
Proposal submissions are open from 13 May 2019 10:00AM to -