When considering global supply chains, it's not new news that they are notoriously complex and opaque. Among other challenges, this means that issues such as child and forced labor, deforestation and environmental degradation can remain in the shadows. Identifying the source of these problems becomes so complex that tackling their root causes and seeking remediation for affected communities becomes a near-impossible endeavor.
For years, experts have urged business leaders to prepare for the coming AI disruption. Realizing the amazing potential of these emerging technologies, they argued, would require businesses to overhaul how they manage data. Yet with the economy booming, many found it easier to push tricky data questions into the future.
So, you’ve just shelled out big money to have it classified and your data will almost certainly be correct when you receive it, but it will only stay accurate for a short period of time.
We all think we know what dirty data is, but it can mean very different things to different people. At it’s most basic level, dirty data is anything that’s incorrect.
Within procurement, it could be misspelt vendors, incorrect invoice descriptions, missing product codes, a lack of standard units of measure (e.g., ltr, l, litres), currency issues, duplicate invoices or incorrect/partially classified data.
Artificial Intelligence and the Pandemic
Artificial Intelligence (AI) defines the 21st century, impacting and driving transformation across every business and industry. With the new norms thrust upon us due to the pandemic, businesses and industries have had to find ways to transform overnight. Previously, it may have taken several years for an organization to make an incremental change or improvement.
Transparency is the lifeblood of modern business transactions. From real-time international wire transfers and electronic health records to tracking transportation or delivery options, digital transformation has revolutionized dozens of industries by unlocking greater visibility, speed, and efficiency.
At the end of a dramatic year for technology providers big and small, Richard Grove from digital consultancy Caution Your Blast considers five issues, opportunities and developments that will dominate the start of this decade.