Last week I had the opportunity to talk about blockchain at Austria’s largest CIO conference. Compared to the 2016 event, blockchain is now a well spread topic and I felt a deep understanding in this group of people about Bitcoin, Ethereum, ICO, Blockchain, Hyper ledger, etc.
Beside the standard facts and definitions, we were able to give a wider overview about supply chain applications of blockchain. It’s the tool to improve or enable provenience, identification, verification, certification and last but not least automation of goods and services in the supply chain.
One topic which was in this group not absolutely clear, how blockchain and the GDPR regulation will come along. Still a question I need to further dig into.
Ceterum censeo ICO esse delendam
ICOs are something really weird. I do not understand, why people are investing their money and regulators are not faster reacting on this kind of crowdfunding on steroids. There are way too many pitfalls to do it right, sooner or later regulators will stop it or apply something like the Howey test to all ICOs. Either the coins are considered as securities and under certain strict regulations or coins are like vouchers and at least in Europe under VAT.
For sure an ICO ice age will start and the blockchain reputation will be harmed. There are so many reasonable use cases for blockchains like traceability in the farm2fork supply chain. making parcels intelligent and smart, transform vehicles into wallets or making documents immutable like anyline does in scanning.
After the AI Summit in Vienna and the conference in Tel Aviv I was able to discuss a bit better the role of AI – being in Gartner’s Emerging Technology Hype Cycle – in a meet up in Vienna. I gave a lot of examples of vertical integrated solutions where a kind of AI is included, but you do not feel, smell or taste AI any longer. Like in the use cases of anyline. we give business eyes, developers can adopt the technology within an hour and the user experience is relieved from typing strings and numbers in their mobiles.
The group of people – experts in computer vision with a significant knowledge about deep learning- was interested in what large corporates are planning with AI, Deep Learning, Machine Learning.
Month by month I see more initiatives adopting this technology in real life applications, but still there is too much expectation and myth about the real value of AI.
Fore sure once AI will combine blockchain, autonomous driving and a kind of physical internet. This will be a major break-through in the transportation industry, but even for me still a kind of Star Wars Episode 42 … so still a while to go for us.
There is already now AI value, like a Japanese insurance company expects to reduce 30% of work by an AI system, however the same value can be easily created by organizational transformation in corporates. Why are there still 6-7 management levels between the final decision maker and the place where a decision is needed?
Reducing these unnecessary levels or replacing them by a fact-based AI driven decision support engine or even better a kind of CxO-Machine at hand when and where a decision is needed … based on an ambidextrous architecture with efficiency model characteristics, by nature an expert model, a connected effectiveness model and a self-fulfilling innovation model and everything combined in one advisor without any middle-management layer … once in place I am looking forward again to join a corporation.
Theory of Everything
Those use cases, which bring more then one topic from Gartner’s technology hype cycle together will be disrupting and worth to invest, will for sure not need an ICO. Those new things will have AI everywhere, using Augmented or Virtual Reality and plumbed into a digital platform.