Artificial Intelligence

Artificial intelligence is a manmade type of developed technology which is becoming an important topic of importance since it represents a crucial factor for all humankind in the new era. AI is a complex field that combines computer science and strong datasets to enable problem solving.

https://www.ibm.com/cloud/learn/what-is-artificial-intelligence

AI seems to be a new technology, but certainly, it had been among as for a long time already. It presented the first developments in 1943 when Warren McCulloch and Walter Pits created a model of artificial neurons. In 1950, Alan Turing created a project of an advanced tool known as “Turing Test” capable to determine whether certain machines are thinking or not.

https://www.aa.com.tr/en/europe/spain-to-invest-720m-in-artificial-intelligence/2063555

Then, by 1972 the first real scale human robot was created in Japan. In 2006, AI was launched in the business world with top companies like Twitter, Netflix and Facebook that started to use artificial intelligence in their applications.

Many scientists agree in the fact that AI is a controversial subject due to its influence over society. Here are some of the advantages and disadvantages of AI:

https://www.bcg.com/capabilities/digital-technology-data/artificial-intelligence?utm_source=search&utm_medium=cpc&utm_campaign=digital&utm_description=none&utm_topic=ai&utm_geo=global&utm_content=ai-in-action&gclid=Cj0KCQjwpcOTBhCZARIsAEAYLuXnf8bjZkpT6f5uZGtWmIh2KXq4UAvkn7BvxBpIhDOFekJvhFkXKv8aAjEnEALw_wcB

Advantages:

• Reduces human error rate.
• Improve efficiency.
• Makes life easier.

https://www.forbes.com/sites/arunshastri/2022/05/30/ai-can-overcome-human-weaknesses/?sh=31d777f1ff0a

Disadvantages:

• Expensive developing costs.
• Reduces human’s workforce at jobs.
• AI in the wrong possession might be harmful for humanity.

Among the different usages AI can be applied, some of the most important can identified as the following:

Own Elaboration

Artificial Intelligence is a growing technology that is developing very fast. It is making human life easier in most of the cases where it is applied, but it can be negative as well if this trending technology is not developed in the right hands.

Business Intelligence

Business Intelligence makes reference to the usage of different strategies and tools that are useful to transform the information in knowledge. Which main objective is to improve the decision making process in the companies.

https://www.oracle.com/es/business-analytics/business-intelligence/

Some of the advantages of Business Intelligence tools are:

Own Elaboration

Business intelligence can help companies make better decisions by showing present and historical data within their business context. Analysts can leverage BI to provide performance and competitor benchmarks to make the organization run smoother and more efficiently.

https://www.forbes.com/sites/sisense/2021/10/15/welcome-to-the-next-generation-of-business-intelligence/?sh=4fde28992509

Analysts can also more easily spot market trends to increase sales or revenue. Used effectively, the right data can help with anything from compliance to hiring efforts. 

https://blog.bismart.com/en/business-intelligence-how-to-plan-a-project

(BI) can be defined as systems that combine:

• Data Storage
• Knowledge management
• Data gathering

with analysis to evaluate complex corporate and competitive information for presentation to planners and decision makers, The objective of improving the timeliness and the quality of the input to the decision process.

https://www.ibm.com/analytics/business-analytics?utm_content=SRCWW&p1=Search&p4=43700068106004970&p5=e&gclid=Cj0KCQjw-daUBhCIARIsALbkjSaqhAKiS8W_IUTh-ZGgB_QCjLNW1LFb_68SzCvXKz0Uk6G6pVwwK1gaAjNSEALw_wcB&gclsrc=aw.ds

Some of the advantages of Business Intelligence tools are:

Own Elaboration

Kanban System

We live in a globalized world were technology plays an important role. Innovation is the key point for the companies who strive to gain more market’s participation. Adapting to the new consumer’s needs and trends increase the firms’ commitment to simplify their products and services also making them more affordable.

Implementing sophisticated managing tools, charts, workflows which lead to a better understanding of the processes is determinant to achieve the companies’ goals nowadays.

https://www.mckinsey.com/featured-insights/business-resilience

During our last Logistics class we were discussing about the importance of organization and planification. A new concept was introduced to us and I wanted to highlight it. The Kanbas System.

“Signboard” is the meaning of Kanban in Japanese, word that means a lean managing method useful to improve work. It has it origins back in 1940s., and was inspired by the Toyota production system, and it was automatically implemented by Toyota automotive company which had the main objective of producing all products “Just in time” according to the consumers’ demand.

https://www.toyota-global.com/company/history_of_toyota/75years/text/entering_the_automotive_business/chapter1/section4/item4.html

Kanban basically consists on organizing the workflow in a chart so that it becomes easy for the organization to visualize the progress and process from start to finish.

It can be used for studies, work, personal planning, etc., it is a key mechanism for strategic planning where it can easily illustrate big data simplified in a same chart.

Kanban has specific indicators to measure team capacity and the average project length.

https://www.digite.com/kanban/what-is-kanban/

Team velocity: It determinates how many tasks a team can deliver in certain period of time, Velocity is calculated periodically and to help with accuracy of the calculated velocity, teams aim to create tasks that are similar in size.

Lead and Cycle time: Defines the average time that takes to complete a task from the beginning to the end. The lead time is generally calculated since the team gets a the order from the customer and cycle time is calculated since the team starts working on a task.

Actionable Agile metrics: Use cycle time to better predict when each project item is going to be finished. It was created by Daniel Vacanti, actionable Agile metrics measure how much time it took to finish 50%, 85% and 95% of the tasks.

References:

– Womack, James P. (2007). The Machine That Changed the World.

– Ohno, Taiichi (1988). Toyota Production System: Beyond Large-Scale Production.