These shifts should not be feared as change always brings opportunity and these trends, from population growth to rapid urbanisation to the explosion in big data, will present significant opportunities for all businesses. But to capitalise on these possibilities, business leaders may have to adjust their perspective. We will all need to open our minds to radical new ideas to succeed, part of which will shape the way IoT (Internet of Things) will have an impact on the future of work and how this will drive change in society.
Big businesses are starting to shift their business model and operations towards a more efficient and inclusive use of robotics that shape as well as reinvent the way products are designed, manufactured, used and recovered, encompassing growth from a reliance on increasingly scarce raw materials.
Take for instance, how Artificial Intelligence (AI) is playing a part in the Fourth Industrial Revolution. Most companies across the globe have their sights set on leveraging AI, regardless of the industry. AI-enabled products and technologies are increasingly becoming an important point of competitive differentiation, with organisations using AI to obtain a foothold in the quantum leap to greater development.
LG Electronics recently announced a new AI development tool for business divisions, which ultimately is the proprietary deep learning-based artificial intelligence technology in line with its efforts to speed up the release of new products that are equipped with the latest technology. From mobile devices to home appliances – the technology will deliver a comprehensive user experience by linking a host of technologies and solutions to its state-of-the-art AI platform. AI functions such as voice, video and sensor recognition and space and human body detection, developed with data gleaned from usage habits of LG customers over the years. The development tool was developed tothe openness and diversification of variety of operating platforms such as Android, Linux and web OS in mind. The company will simultaneously speed up its release cycle for products equipped with this technology.
With innovative AI platforms such as ThinQ, the “live and learn” philosophy requires machines to educate themselves and become smarter over time. As machine learning becomes more advanced, products will understand their external environments as well as absorb their customers’ behavioural patterns. For example, an air conditioner will learn its inhabitants’ living patterns over time and adjust the room’s temperature to its occupants’ desired range, or cabin monitoring technology in a car can familiarise itself with the driver’s facial expressions and gestures and be able to recognise the moment a driver starts to feel drowsy.
DeepThinQ has already transformed the way certain products for the commercial and consumer sectors are designed. In Korea’s Incheon International Airport, Airport Guide Robots employ sophisticated ambient noise to improve voice recognition, enabling passengers to be better understood. The platform is an embodiment and extension of the company’s open philosophy – to provide the most powerful AI solutions to customers through a strategy of open platform, open partnership and open connectivity.
ThinQ will completely change the way consumers use products because ThinQ products will learn about people to provide intelligent services, not the other way around.
AI learning is disrupting the status quo in the ordinary ecosystem of IoT and we need to consider how emerging technologies, from AI to IoT can reinvent what you do and how you do it. For product or manufacturing businesses, 3D printing is a prime example. This technology is turning traditional production models and workflows on their head – replacing just-in-time supply chains with on-the-spot, on-demand production. By adopting this new technology, companies could turbocharge their R&D process. It could mean moving from design and prototypes to production in drastically shorter periods. Given the repercussions for product manufacturing, keeping track of mega trends shaping our society is vital.
There is no doubt that technology and the companies that spearhead innovation have grown from mere enablers into giant corporations that are redefining the way we live at a tremendous pace. We feel their impact throughout every aspect of our lives – in our home and personal appliances; through industries; across governments; in the media and of course, on social media. Technology is influencing our thoughts and shaping our opinions. The future is here.