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