Disruptive Technologies– End Game. Sorry, The Beginning!
When Technologies Unite!
“Where there is unity, there is always victory”
Every 90's kid would definitely be a fan of at least one superhero(mine is Spider-man). They save the world every day with superpowers. We dressed like them, bought toys, role-played, never missed their shows and boasted about being their fans.
But when many superheroes joined together as Avengers, no matter how powerful the enemy is, let it be Thanos or Banos he is DEAD.
What if the technologies unite?
Wonders happen right? Let’s see a few scenarios and how the combinatorial technologies(Superheroes) come to the rescue.
A farmer is having 10 acres of land and 10 cows, 20 hens, 35 goats. He stocks the crop yields in the warehouse; which is then shipped to the wholesaler; then to the retailers; then to the consumers. The farmer broke his leg and is unable to move often. He is struggling to maintain the land and track the entire process & stakeholders. Who can save him?
IoT can save the day with sensors implanted across various necessary locations in the land and on the cattle. These sensors send data about the crops like humidity levels, temperature, cattle’s geo-location and help the farmer to know when to water, whether the cattle are within the range from his home.
Even the health of the cattle can be identified based on its movements and grazing patterns.
Whereas Blockchain can save the farmer’s life by making all the stakeholders from farmer to retailer form a blockchain network. Every time a transaction happens(ex: shipping from wholesaler to retailer) all the stakeholders are informed about. No other person can step into the network without the consent of the stakeholders in the network thus ensuring no ADULTERATION!
Payments can be secured using a Smart contract where the payment to the logistics owner is made only if the wholesaler ensures the delivery.
Blockchain & IoT saved the day!
Priya joins as a Senior Procurement officer and is excited about the new job. Her manager said on the first day “Priya, Congrats. We have 5000 invoices and receipts to be verified and you have to complete in 1 month and prepare a report on how many registrations will happen next quarter”. She is happy about the challenging task but how can she predict the registrations & clear the backlogs in a very short time manually?
Priya is in trouble. Who can save her?
She can automate the procurement process with RPA tools like Uipath, Automation Anywhere, Pega, etc. Every step of the verification process is recorded and programmed to run on its own.
The unstructured critical data points (vendor name, invoice number, quantity, material name, total amount, etc.) from the invoices can be extracted through OCR tools like Abbyy or NLP(AI) and can be verified against the receipts automatically through the bots.
Whereas details of the vendors registered so far like their industry, region, order quantities can be stored and analyzed through Tensorflow, Pytorch, etc.to prepare a report on the predicted vendors. The more the data the more is the accuracy.
Now Priya completed the backlogs and the report within a week.
RPA, AI&ML saved the day!
Let’s discuss the other superheroes in the next article.