How Digital Transformation will create a Borderless Trade System

[Music]

let us venture back to the period dr

peter drucker

the founder one of the founders of lease

of total quality management also known

as tqm

now you may ask what are the

relationships of

any to digital transformation

and more or less why is that significant

to the development of a boiler’s trade

system

now dr peter drocker offers a glimpse

of both digital transformation and the

beginnings of developing

a borderless trade system when he once

commented on total quality management

dr peter drucker once stated that you

don’t start with putting in machines

you start with looking at the work

process you start with engineering the

work

not engineering the actual machines and

not engineering the actual material flow

now what professor drucker touched on

was three key elements

to the advancement of digital

transformation but also boilers tray

system

these key elements include engineering

the action material flow

which could be evidence in data

analytics

engineering the actual work process

which is evidenced

in the use of blockchain technology

as well as distributed alleged

technology and

engineering the actual or at least the

evidence

or use of robotics which is shown in

artificial intelligence

now let us reason together and let’s

discuss how digital

transformation will create a boilers

trade system

in today’s global economy trade can run

up against a variety

of challenges these challenges include

weak sourcing and tracking of

information and data analytics

small and media enterprises not having

access to capital at a global stage

and a lack of regulatory guidance

to the credit of potential regulators

they have been given more guidance by

using

more sand boxes for thin technology and

red technology firms

and also they’ve also been using digital

currencies particularly

at the central bank level for central

bank digital currencies

which are being implemented now or at

least being tested

as we look to the future the digital

world promises a resolution

providing artificial intelligence both

machine learning and deep learning

dirty wave ai data analytics

that includes both natural language

processing as well as

specification management and blockchain

which includes both distributed ledger

technology these solutions will pave the

way for boilers trade system

and offer tangible solutions enhancing

cross-border transactions that includes

both supply chains

manufacturing firms payments and

settlements and custody

and paved the way for the for the future

so according to twilio cobra 19 has

accelerated digital

communications strategy by an average of

90

97 six years ahead basically

and a lot of these decision makers

believe that epidemic has increased

the digital transformation strategy

i frequently speak to executives around

the globe

and a good 80 percent believes that the

air digital transformation strategy has

been increased by

the actual epidemic itself merely in

operations

and mainly in finance

so that leads to the origin of digital

transformation this could be tied to

a bit of total quality management but to

a larger degree

to the use of data management

specifically

how data is being used how data is being

sourced how it’s being tracked and how

it’s been analyzed

data using natural language processing

and tracking our specifications

and particularly raw materials

ingredients and operations

can greatly enhance data analytics

it could also greatly enhance supply

chains and manufacturing

both supply chains and manufacturing

rely on transparency

and traceability of raw materials

and data and meet them both regulatory

standards

and both natural standards too and

national standards

management as well as executives benefit

by this by using raw

and real-time data in charts that can

help solve problems and challenges in

both cross-border trades such as

anti-bribery and anti-corruption

third-party vendor risk intellectual

property

and data privacy as we have been

witnessing in gdpr

as data become more digitally

transformed and relied upon

industries ranging from food and

beverages

to beauty and consumer goods and heavy

industries

are beginning to rely on auditing

specifications for transparency

traceability and most importantly

meeting consumer

and corporate expectations and product

authenticity

such as sustainability and organic

labeling

here is where blockchain and distribute

ledger technology

greatly enhances both supply chain

management and manufacturing by offering

a source

and secure traceable data system this

will also be applied to artificial

intelligence too

blockchain technology max what is it and

in brief in short

it is one where transactions occur

between two parties

without an interference of a third-party

vendor so it is a decentralized system

however that data is being secured on

the cloud

the application of blockchain technology

becoming more is becoming more

commonplace and making a borderless

trade system in reality

for example you’re finding more of the

applications of blockchain technologies

as evidence in e-commerce in

peer-to-peer

lending in central bank transactions and

global payments and settlements

and in the form of a digital currency

transaction and that’s being done in the

level of

central bank digital currencies that’s

being covered in the level of foreign

trade

as well as in terms of foreign exchange

now here’s the key here the

record-keeping feature

of blockchain technology further

enhances cross-border transactions and

cross-border trade and to a large degree

make it a borderless

transaction as members on that platform

for multiple jurisdictions and countries

have access to data

and that can make they can make

financial decisions

as global firms become more reliant on

the efficiency of data

and efficiency of blockchain technology

they will seek upon using

artificial intelligence here is where

artificial intelligence

particularly machine learning and deep

learning and now going forward

third wave ai plays an important role in

terms of looking at that particular data

for efficiency and reliability

and providing that back on the

management now if we put this together

on a particular system on one particular

platform

we are able to address key elements

within the supply chain

but most important key elements within

the stakeholders

those stakeholders include consumers

commercial industry

governments as well as individuals

and the minute you actually tap those

particular

stakeholders you are able to present a

borderless trade and bullish transaction

system

this is what digital transformation will

bring it will hit on a key

of data management it will use a bit of

boilers trade transaction for blockchain

technology

and we’ll also touch on the element of

artificial intelligence

which will create a boilers tray system

in the future

thank you

you