Develop GenAI Strategy for your organization
Omid Bakhshandeh, AI Scientist
Watch Now14:37 Minutes The average reading duration of this insightful report.
Decentralized Identity systems solve for inefficiencies and security breaches, making them extremely useful for enterprises. We explore in detail important industry use cases where these solutions can be used and means to implement them.
The KYC Process in Banks and Financial institutions is mandated by the government and can be quite painful both for the bank and the customers. We examine how DID can help not only simplify the process but also ensure high trust and make the process fraud proof, by eliminating intermediaries and returning to trusted direct relationships. Download Complete Research
In case of Food supply the application of IoT can provide real-time data and insights. The current IoT supply chain and the food Supply chain face innumerable challenges. Using DID and verifiable credentials in food/perishable supply chain can provide a tamper-proof and auditable record of a product’s journey, from its origin to its destination. Solution will have lasting impact not only for controlling quality and expense for organization but will also have impact on public nutrition, health, and sustainability. We explore how!
While managing Electronic Health Records, healthcare organizations face two main challenges: Privacy & Security and Interoperability due to multiple systems in play. By providing patients with greater control over their health information, Decentralized Identity solutions can enhance trust and confidence in the healthcare system, leading to better health outcomes. We explore the details with an example. Download Complete Research
Credits
Author@lab45: Sujay Shivram, Abhigyan Malik
13:30 Minutes The average duration of a captivating reports.
GenAI is transforming various domains including software engineering. This technology enables high productivity, rapid development, and abundant innovation promising overall productivity gains of 26-30%. Embrace the future and discover the extraordinary potential of GenAI.
GenAI is expected to boost productivity in software engineering by 28% and is projected to improve task completion speed by 54% by 2025. It can also increase application development and maintenance revenue by 25%-30%, leading to a 5%-6% improvement in overall profitability. The GenAI market is expected to grow at a CAGR of 42% over the next decade, and the technology can help address the expected shortfall of 4 million developers by 2025. However, detailed study and implementation strategies are needed to consider factors such as initial installation effort, resource training, and technology integration.
GenAI can significantly impact the various phases of software development by generating code, improving code quality, simplifying code structures, and automating tasks such as unit testing and bug detection. It can reduce the duration of task execution across various software development stages by 20%-45%, resulting in substantial cost savings. While software engineers may be the primary beneficiaries of GenAI, other teams, such as architects, consultants, and sales teams, can also derive substantial advantages. However, implementing GenAI requires a comprehensive strategy that includes tool selection, investment, deployment, and developer training. The implementation strategy should target the highest-leverage phases of software development, and enterprises should invest in resources and training necessary for developers to leverage the technology effectively. Download Complete Research
Integration of GenAI with DevOps principles can increase productivity by automating tasks, generating content, and providing intelligent insights. Adopting GenAI in the DevOps software development environment can further boost productivity through script generation, automated monitoring and alert generation, and synthetic data for pipeline load testing. GenAI can complement and enhance Low Code No Code (LCNC) capabilities by integrating visual developer interfaces, quickening development cycles, and creating text and multimedia assets. Key platforms for code generation using GenAI include Copilot by GitHub, CodeWhisperer by AWS, ChatGPT by OpenAI, Vertex AI by Google Cloud, and TabNine by Codota Dot Com Ltd.
As AI continues to evolve, GenAI will become an increasingly essential aspect of the software development process. GenAI provides opportunities for innovation and creativity while also presenting new challenges. Customized benchmarking contextualized to the customer environment is crucial in refining and optimizing GenAI tools, fostering greater productivity and efficiency in software development. Enterprises must formulate a comprehensive GenAI strategy and incorporate GenAI tools in the implementation and testing phases of the software development lifecycle to maximize development cost and effort savings and improve quality. Collaboration with GenAI tools will create new roles, such as Prompt Engineers, and allow developers to focus on strategic thinking and creative problem-solving. GenAI is also an excellent learning and training tool, automating the generation of educational content and assisting in information retrieval and organization. Download Complete Research
Credits
Lead Authors@lab45: Hussain S. Nayak, Anju James
Contributing Authors@lab45: Vinay Ramananda, Dattaram B A
11:45 Minutes The average duration of a captivating reports.
AIoT is a revolutionary blend of AI and IoT that creates a connected world with limitless opportunities. Smart devices can collaborate to make informed decisions without human intervention, transforming various industries. As AI and IoT converge, their applications will become more advanced, presenting new prospects for businesses and consumers.
AIoT combines sensors, AI, data and ambient computing elements to create a responsive, context-aware environment. It uses embedded devices and natural user interfaces to provide services based on detected requirements and user input.
AIoT can revolutionize how users interact with technology, offering greater convenience and seamless connectivity. The benefits include: intuitive and seamless experience without commands, automated decision making, efficiency and convenience.
While creating an AIoT system, a well-balanced architecture is crucial to manage data processing speed and costs. There is a flow of information in the system based on the external inputs, that ultimately results in a response based on analysed data points by AI and ML algorithms. Download Complete Research
The 5 step enterprise strategy include the following:
Use Cases for following domains are discussed:
Implementing a complex system like AIoT requires careful planning, collaboration, and attention to detail. Data management, privacy concerns, and integration with various systems can pose significant obstacles to successful implementation.
The AIoT space is dominated by key players such as IBM, Microsoft, Siemens, GE, Cisco, Huawei, ABB, Bosch, SAP, and Honeywell. Download Complete Research
Credits
Author@lab45: Anju James
Contributing Authors@lab45: Hussain S Nayak, Nagendra Singh
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