Emerging Technologies Revolutionizing Business Process Automation Strategies

In today's fast-paced digital landscape, keeping up with emerging technologies is crucial for businesses. Automation strategies are evolving rapidly, driven by advancements in artificial intelligence and machine learning. This article explores how these technologies are transforming procurement processes.

Image: AIgen

As a business professional, understanding the impact of emerging technologies on your processes is essential. Automation is no longer just a luxury but a necessity to stay competitive. This piece delves into the significance of procurement automation, procurement orchestration, and everything related to the goings-on of an AI procurement platform.

The importance of procurement automation

Procurement automation is transforming how businesses handle purchasing activities. By leveraging advanced technologies, you can streamline repetitive tasks, reduce human error, and enhance efficiency. With automation, organizations can allocate resources more strategically and focus on high-value activities rather than mundane tasks.

One significant benefit of procurement automation is cost savings. Automated systems can identify cost-cutting opportunities that may not be apparent through manual processes. Moreover, these systems ensure compliance with company policies and regulatory requirements, mitigating risks associated with manual errors.

Tonkean procurement works in the context of procurement automation to integrate seamlessly with existing systems, further enhancing operational efficiency. Utilizing such tools allows for real-time data analysis and insights, which can lead to better decision-making and improved supplier relationships.

Another crucial aspect of procurement automation is its ability to enhance data accuracy and transparency. Automated systems can collect, process, and store vast amounts of data with minimal errors, providing a clear audit trail for all procurement activities. This increased transparency not only helps in maintaining compliance but also builds trust with stakeholders. Furthermore, the ability to access accurate, up-to-date information enables procurement teams to make data-driven decisions quickly, responding to market changes and opportunities more effectively. As businesses continue to navigate complex global supply chains, the role of automation in ensuring data integrity and facilitating informed decision-making becomes increasingly vital.

Understanding procurement orchestration

Procurement orchestration involves coordinating various procurement activities to achieve optimal outcomes. Unlike traditional approaches, this method takes a holistic view, integrating multiple functions and stakeholders into a cohesive process. The goal is to create a seamless workflow that enhances collaboration and reduces silos within the organization.

An effective procurement orchestration platform enables businesses to manage complex supply chains with ease. These platforms offer features like supplier management, contract lifecycle management, and spend analysis. By unifying these elements, you can gain greater visibility into your procurement processes and drive more strategic outcomes.

One crucial aspect of procurement orchestration is its ability to adapt to changing market conditions quickly. For instance, in times of supply chain disruptions or market volatility, having an agile system in place ensures continuity of operations. This adaptability makes it easier to respond to unexpected challenges and maintain a competitive edge.

Procurement orchestration also plays a crucial role in fostering innovation within the procurement function. By automating routine tasks and providing a comprehensive view of the procurement landscape, orchestration platforms free up procurement professionals to focus on strategic initiatives. This shift allows teams to explore new sourcing strategies, develop innovative supplier partnerships, and identify opportunities for process improvements. Moreover, the data-driven insights provided by orchestration platforms can help in identifying emerging trends and technologies relevant to the procurement function, enabling organizations to stay ahead of the curve. As businesses increasingly recognize the strategic value of procurement, the ability of orchestration platforms to drive innovation becomes a key differentiator in the market.

The role of AI in procurement

AI procurement platforms are at the forefront of transforming business process automation strategies. By incorporating artificial intelligence, these platforms offer predictive analytics, automated decision-making, and enhanced data processing capabilities. AI can analyze vast amounts of data at unprecedented speeds, providing insights that were previously unattainable.

One of the key advantages of AI in procurement is its ability to predict trends and identify potential risks before they materialize. This proactive approach allows businesses to mitigate risks effectively and make informed decisions based on accurate data. Furthermore, AI-driven platforms can automate routine tasks like invoice processing and order management, freeing up time for more strategic initiatives.

AI procurement platforms also enhance supplier relationships by providing better communication channels and real-time feedback mechanisms. Suppliers can benefit from increased transparency and faster response times, leading to stronger partnerships and improved performance across the supply chain.

The future of business process automation

The future of business process automation lies in the continued integration of emerging technologies like AI and machine learning. These advancements will further enhance the capabilities of procurement orchestration platforms, enabling businesses to achieve greater efficiencies and strategic outcomes.

As technology evolves, it is essential for organizations to stay informed about the latest developments and continuously adapt their strategies. Investing in advanced automation tools not only improves operational efficiency but also positions your business for long-term success in an increasingly competitive landscape.

Embracing emerging technologies in your procurement processes is no longer optional but imperative for staying ahead. By leveraging tools like AI procurement platforms and robust procurement orchestration systems, you can transform your operations, drive cost savings, and achieve sustainable growth.

by Asim BN via Digital Information World

Global Mobile App Consumption to Exceed 58 Trillion Hours, Revenue Reaching $2 Trillion

Mobile consumers are growing by the second and a new industry forecast for mobile apps is shedding light on what the future holds for the industry.

With many users predicted to spend close to 58 trillion hours with such platforms, you cannot help but wonder what is in store for the future as we approach 2030.

The latest app report complied by DataAI displaying the market forecast says app spending via App Stores is expected to attain growth by more than 267% in this decade.

The fact that the economy for apps started nearly 15 years back means we’ve come a long way when we put all of this into perspective. Remember good old Steve Jobs from Apple? He shared his insights on how he predicted the industry to become a massive billion-dollar place in the future.

His predictions from 2008 have indeed come to life as the mobile app economy is predicted to produce more than $2 trillion by 2030. This is a more than 123% rise from the past decade and clearly shows progress. Did we mention how it would put more focus on apps than what was seen in the past?

The forecast goes on to reveal how people spending hours on mobile apps would cross the 58 trillion mark which is nearly 16 billion hours every single day! How’s that for some remarkable stats?

Apps are not only useful but today, they’re greatly used for providing entertainment and utilities. This also reflects the increased amount in direct spending and does not take into consideration the huge sums of funds earned through ads taking place on apps. Shockingly, hat managed to hit the $362 billion mark in just 2023 alone.

It’s a positive finding and displays how the app economy is working robustly and removed the only shortcomings we saw in the past. That again arose thanks to more inflation, changes to privacy, and the world reeling from the aftermath of the pandemic that really struck hard.

As a result, direct spending witnessed a 2% decline but thankfully it did not last long. Apps started to pull in a massive $171 billion in terms of consumption.

Today, experts at Sensor Tower feel strongly about mobile weathering the storm as they give rise to client transformation. By 2030, it would be predicted to unlock trillions.

What more did this forecast explain? We’ve summarized the main pointers for our readers below.

When we look at app history, games were raking in huge sums of revenue and it really managed to bring in huge bucks. After all, a lot of users are gamers and they’re very passionate about this, paying a lot of money to fulfill their cravings and hobbies related to more entertainment. This led to more gaming events and the arrival of customized avatars.

But the future says that apps will soon overtake games in terms of downloads as more consumers will spend on the former than the latter. So by the end of this decade, you can expect a rise in yearly spending on apps, hitting the 50% mark.

Spending on short video platforms will be doubling too, another leading mention in the forecast for mobile apps. This does not come as a huge surprise because the worldwide demand for mobile devices as well as affordability for data has led to a widespread increase in demand for apps featuring Shorts. Predictions for short video content to grow by 120% by the end of 2023 were also highlighted by analysts.

We already know how short videos are doing great for apps like Instagram and YouTube. They’re a key source of revenue and keen interest for the masses. As far as the number of hours that were spent is concerned, we could see that go beyond the 4.8 trillion hour mark in 2030, which is more than the total time being spent in these places two years back.

But which markets are growing faster than others and will reign supreme by the end of the decade? Well, experts predict that those nations having developing markets will attain the most growth and give rise to the most dramatic figures for spending, downloads, and even attention.

Countries featuring markets that are developed like China and Japan, the USA, and Korea would spend the most but that’s not where the fast-paced growth will arise from. Instead, places like Central and South America as well as Africa will contribute to the highest growth figures. interesting, isn't it?

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by Dr. Hura Anwar via Digital Information World

Top 8 Domains Categories Flooded With Intrusive Ads In 2024

Whenever you visit a website, you must have come across many intrusive ads. These intrusive ads are often annoying and make your web browsing experience super bad. Intrusive ads are the ones that pop-up randomly whenever you are surfing a website and you have to stop your business to close them up. When you click on them, they can lead you to additional browser tabs. Most of the time, these intrusive ads can lead you to malicious sites which can infect your device. According to NordVPN, there are top eight domain categories that have the most intrusive ads, possibly with malware.

Video hosting domains contain the most intrusive ads with 2,389,350,030 ads blocked between January 1,2024 to June 1,2024. Adult content domains also contain the most intrusive ads with 971,865,037 ads blocked this year. Other domains with most intrusive ads are advertisements (807,399,394), News (457,976,590) and Games (395,120,665) ads blocked this year.

The sixth domain with most intrusive ads is Shopping which has 320,961,854 ads blocked this year. Email also has many intrusive ads (199,963,734). The eighth domain with the most intrusive ads is the Financial domain with 138,840,411 ads blocked this year.

To mitigate the impact of these ads, users can install ad-blockers, keep their browsers and security software up to date, and avoid clicking on suspicious links.

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by Arooj Ahmed via Digital Information World

A New Study Finds that White Or Reflective Roofs are More Effective in Controlling Urban Heat Than Green Roofs

A new study led by UCL researchers found that cool roofs, like painting them white is more effective than green roofs, solar panels or street level vegetation. The researchers used a three dimensional urban climate model of London to find out how different urban heat management systems can impact the thermal levels of this place. Different heat management systems like green roofs, air conditioning, painted cool roofs, solar panel roofs and ground level tree vegetation were used.

Air conditioning in London homes doesn’t have much impact on warming the outside. The study found out that having cool roofs inside homes can decrease the outside weather of the city. The average temperature outside can be reduced by 1.2 degrees while in some areas, it can even be reduced by 2 degrees. The other systems like solar panels or street level vegetation can also reduce warm temperature but not to the same extent. The impact of green roofs was almost nonexistent on the environment.

Air conditioning which can lower the inside environment, can warm the outside environment by 0.15 degrees and 1 degree overall in Central London. The team of researchers studied each method on housing, industrial and commercial buildings throughout London. The lead author of the study said that cool roofs are the best way to keep temperature a little cool on extremely hot days in London. Other methods have various side benefits but they are not good enough to reduce outside urban heat.

As the climate is changing, the heat in London has become almost unbearable which leads to discomfort and even rise in mortality. The study also offered many insights on urban heat management and other forms of heat management systems. Green roofs were found to have no effects on a warm environment because their effect on the environment changes throughout the day. Even though it can reduce some heat in the night, it can increase the humidity levels at day time which could affect thermal levels of the area.

Image: Unsplash / Derek Thomson

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by Arooj Ahmed via Digital Information World

Google's Quest For Power: Company Tries Dirty Tactics To Dominate Search On iPhones But Is it Working?

It wouldn’t be wrong to mention that Google’s hunger for power and dominance in the world of search has always been a top priority for the search giant.

It’s been trying to pull out all the stops to ensure more Safari users get onboard as well but the company might not have been too successful on that front.

On the other hand, the Google is also being targeted for a trial by the Justice Department that sheds light on the key relationship and possible deal entered with Apple. And now, we’re hearing more about how the company is pulling out all the stops to ensure users rely less on the Safari browser and more on itself as the outcome of the antitrust battle nears.

The current Justice Department case has to do with a silent but very lucrative deal featuring the iPhone maker getting a lot of funds so that Google could be the default search engine on the iPhone. On average, a payment of $20 billion is generated every year to retain such a status.

As one can expect, it’s a plain show of monopoly and a move that would negatively impact competition across the industry. While Apple is yet to be outlined as the main party in this case, we did see some of the tech giant’s executives testify during the trial.

The report today has explained how this firm wishes to enhance the share for searches through the iPhone, beyond Safari.

It’s a goal that Google has been wishing to attain for years just so it could better offer protection against a simple notion. And that's the chance to persuade owners of iPhone devices to make the switch to another app to conduct searches.

While Google is lifting the figures for searches carried out in this manner, it has confirmed that it’s got a long way to go as progress did end up coming to a standstill despite reaching 25%. And this has made Google upset as it’s way below the target it wished to attain by 2030.

The current agreement with Apple comes with a revenue-sharing clause. Apple gets a cut from ad revenue carried out via searches on Google in the Safari browser. By forcing users to Chrome and Google apps, the company is paying Apple fewer funds while making it less vulnerable to being regulated.

It’s a smart strategy but not one that has brought too much success for the search giant in recent times. The struggle continues in terms of making Google users utilize its own apps instead of Apple’s Safari. Remember, the latter is preinstalled on all iPhones.

The shocking new report has even proven how Google hired an ex-Instagram and Yahoo executive to overlook all the matters entailing a push far from Safari. A decision on this front includes restricting the AI Overviews to its own personalized apps. In the end, this would ensure users of Safari do not witness any AI Overviews while using Search but those making use of Google could but the decision to do so was never implemented.

This report is clear evidence that Google wants more iPhone users and it’s a mission that began years ago. They did not attain too much success and now, everyone’s eyes are on the current Antitrust Trial where a decision would soon come into play in a few months.

All of this reveals a dark side of Google which spends billions just to be the default choice of search engines across iOS. It’s being scrutinized for the act but that’s not stopping it.

The business of transforming into the first search engine choice of all Apple users is a struggle as is the goal of forcing more iPhone users to use Google apps.

The target is to move the 25% to 50% of searches carried out on iPhones which is double the figure right now. But along the way, using dirty tactics like locking AI-based features like Overviews to its own platforms and not having them seen on Safari is certainly an eye-opening effect of how low the search engine giant can go to get what it wants. Do you agree?

Image: DIW-Aigen

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Global Opinions on Single-Use Plastics Ban Revealed in Survey

Plastics are not only harmful for our environment but it is also extremely dangerous for living things like animals and humans. A new research also shows that plastic is broken down and is now found as microplastics in humans blood stream.

Ipsos conducted a survey of more than 24,000 respondents in 32 different countries to find out how much people agree to impose a ban on single use plastic. According to the results, 85% of the participants agreed that there should be a ban on single use plastic. Most respondents who agreed (97%) were from Indonesia, followed by Mexico (94%). 93% respondents from Uganda agreed that there should be a ban on unnecessary use of plastic products.

86% respondents each from France and UK were in the support of banning single use plastics. 83% respondents from Brazil and 82% from Denmark also shared the same thoughts. The percentage for people agreeing to ban single use plastic products was lower in India (76%), USA (73%) and Japan (60%). An average of 87% respondents said that it is important for the law makers to impose guidelines that would reduce the manufacturing of plastic products.

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by Arooj Ahmed via Digital Information World

Samsung Estimates More Than 15-Fold Rise In Q2 Profits As AI Boom Lifts Earnings

South Korean tech giant Samsung seems to be on a roll as it just revealed estimates for a massive 15-fold increase in operating profits for Q2 2024.

The news comes amid a rise in AI trends that have enhanced earnings after semiconductor chip prices increased.

The company is the global leader in terms of memory chips, television, and smartphone devices. And seeing figures for operating profits rising to $7.5 billion is huge, as previous reports showed figures to be much less.

This latest profit beat out the LSEG SmartEstimate that comes from analysts who keep on generating the most accurate forecasts. Moreover, this quarter was the most profitable since Q3 of 2022.

Additionally, the much better and promising profit estimates also reflect the firm’s decision to reverse inventory writedowns linked to books as the pricing for chip inventories continues to rebound. So it’s not just a rise in chip prices here that’s worth a mention.

Meanwhile, figures for revenue ended up rising by 23% in Q2 when compared to a similar period one year back.

The company’s shares opened with 1.2% as compared to the 0.4% increase across the wider market. Moreover, the firm is all set to roll out a detailed earnings report from Q2 towards the end of July.

The company’s leading semiconductor division appears like it posted another consecutive profitable report that enhanced the results from Q1 as the trend for rising memory chip costs keeps moving upward during the 2022 to 2023 period. This might have to do with poor post-pandemic demands related to gadgets making use of chips.

There is a huge demand for DRAM chips including those having bigger bandwidths that are commonly seen in chipsets based on AI. The same goes for those utilized in servers across data centers. Meanwhile, those running AI services keep assisting prices for buoy chips to increase as per analysts’ opinion.

During Q2, we saw prices for memory chips rise by nearly 18% when compared to the last quarter. But rises in prices for memory chips could move slower in Q3 as predicted by TrendForce who saw a 5 to 10% rise in DRAM and NAND Flash while older chip demand falls.

Earning calls are clear signs of progress and from this report, we are keen to look at the firm’s outlook regarding legacy chips that would determine if recovery was possible or not by next year.

The demand for chips that are on the higher end of the spectrum could result in outperformance throughout the market as explained by analysts. And while the South Korean tech giant is doing great overall, it’s falling behind another rival of the local industry which is Hynix. The latter is known for supplying HBM chips to clients such as Nvidia.

Meanwhile, chip maker Micron Tech which is based in the US was also witnessed beating out estimates for the newest quarterly revenue that was driven by a huge demand for AI. However, we have to mention the recently published forecast did disappoint investors who are now more upbeat than the rest.

Right now, investors are keen on seeing if Nvidia can give Samsung approval for its supply of 4th Gen HBM chips as results from failed tests conducted in the past did ruin hopes that the company had for securing a deal.

The company underwent a serious shift in positions related to its semiconductor division where it was said to be going through a chip crisis and to combat that, it had its sector head replaced.

Image: DIW-Aigen

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