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Scalability Of Intelligent Automation Technologies Directly Linked To Financial Performance, Finds KPMG Survey

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According to KPMG International’s new “Easing the pressure points: The State of Intelligent Automation” global survey, enterprises are not scaling Intelligent Automation (IA) technologies [artificial intelligence (AI), advanced analytics, and robotic process automation (RPA)] fast enough to meet desired objectives and returns. However, those organizations that are scaling IA technologies are seeing strong financial performance.

Read the full report here.

When will your adoption of Intelligent Automation (IA) be scaled-up and industrialized?
What is your organization’s topline and bottom-line performance?

What are the top three inhibitors that are holding you back from achieving strategic AND operational goals?

“Investment in and adoption of IA technologies are occurring at a rapid pace, but many organizations are struggling to demonstrate significant impact,” said Cliff Justice, KPMG principal and U.S. leader of intelligent automation. “Without a holistic digital transformation strategy that underpins IA investments across an entire organization, these projects are stunted in pilot mode and fail to deliver the intended results. Yet, when implemented with a clear vision and integrated approach, IA is propelling businesses, not only with a competitive business edge but financial success.”

Key findings of the State of Intelligent Automation survey include:

  • Investment in IA tech is strong with 52 percent of companies confirming investments of more than $10 million; yet investments are imbalanced across functions – finance and accounting are seeing the biggest investments.
  • There is a distinct correlation between scale and top financial performance. While 64 percent of the top performing companies surveyed will be scaled by 2019, 59 percent of poorly performing companies need another 2 – 5 years to achieve IA scale.
  • Overall, only 17 percent of companies surveyed have scaled up or industrialized IA technologies. Smart analytics was cited as the top most scaled technology, while RPA was the least scaled. And, the technology that organizations are experimenting with or piloting the most is AI (36 percent).
  • Scale remains a leading challenge to achieving key goals with IA technologies. Other notable challenges pinpointed include uncertainty about the financial investment needed; lack of clarity on accountability for driving the agenda; and concerns about changes in governance and risk management.
  • Business executives are optimistic about the impact IA will have on jobs — approximately one-half of respondents surveyed say automation will impact fewer than 20 percent of their staff. KPMG feels these executives are overly optimistic.

“To realize the full potential of IA beyond cost savings, organizations must think beyond technological investments and incorporate change management at every step of the way,” Justice continues. “Even the most basic of robotic process automation technologies will impact the future of work. Broad-ranging transformation strategies are critical to future-proofing companies’ most valuable resource: their workforce.”

Thomas Erwin, head of KPMG Global Lighthouse and a partner with KPMG in Germany, concluded, “To ensure an effective, comprehensive IA strategy that integrates complex technologies such as AI, three key components are essential: clear business objectives, an adequate budget and an orchestrated approach. These are fundamental to successfully scaling up IA across the enterprise.”

SOURCE KPMG LLP

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Crypto Earn: Now Earn 8% p.a. on EOS Deposits

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Crypto Earn: Now Earn 8% p.a. on EOS deposits

 

Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has added EOS to Crypto Earn, allowing users to enjoy up to 8% p.a. on their deposits.

In addition to having EOS available in Crypto Earn, deposit and withdrawal of EOS is also enabled on the Crypto.com App.

EOS.IO is a free, open-source blockchain software protocol that provides developers and entrepreneurs with a platform on which to build, deploy and run high-performing blockchain applications. It is currently supporting over 260 projects.

Crypto Earn now supports 16 coins including BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, DAI, PAXG with the addition of EOS. Interest is paid out weekly in the coin deposited with flexible, 1-month or 3-month terms available. Users earn more by staking at least 500 MCO.

Note: For the U.S. users, both deposit and withdrawal of EOS and Crypto Earn deposit in EOS are initially available in 38 states: AlaskaArizonaArkansasCaliforniaColoradoDelawareFloridaIllinoisIndianaIowaKansasKentuckyMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNorth DakotaOhio, Oklahoma,  PennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVirginiaWest VirginiaWisconsin, and Wyoming.

 

SOURCE Crypto.com

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World’s Largest Blockchain Application Competition ‘Klaytn Horizon’ Winners Announced

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BApp Competition 'Klaytn Horizon' Winners Announced

 

Klaytn, the leading blockchain project led by the South Korean Internet giant Kakao announced the winners for its BApp (Blockchain Application) competition, ‘Klaytn Horizon.’

Klaytn Horizon invited all developers worldwide to build blockchain applications on the Klaytn platform whose mainnet launched this past June. Prioritizing its efforts towards mass blockchain adoption and ecosystem building, Klaytn prospected for competent blockchain projects that can facilitate blockchain experience.

Over 100 projects were submitted by developers across the globe including Korea, U.S., ChinaFranceRussiaSwitzerlandSlovakiaIndiathe Philippines, and many others. Most of the projects are Klaytn-based tools including wallets and exchanges that enhance BApp development and usability. The judges selected 15 award-winning teams that have the most potential to deliver practical service with meaningful values based on user-friendly blockchain experience.

The top five winners of the Klaytn Horizon are as follows:

Exnomy (India & Korea)

Exnomy is a hybrid cryptocurrency exchange that enables a handful of cryptocurrencies tradeable with Klaytn’s token KLAY based on high scalability and competitive gas fee structure. It combines high security with fast transaction speed.

Jetstream (Korea)

Jetstream is a Chrome browser extension wallet that enables the transfer of KLAY and KCT (Klaytn Compatible Tokens) as well as Klaytn-based non-fungible tokens (NFTs). The fees incurred by users can also be delegated to a service provider to ensure an effective user experience.

Klay.exchange (The Philippines & Korea)

Klay.exchange is a decentralized exchange protocol supporting the value transfer of KLAY and KCT. Based on an intuitive swap algorithm, the service allows simple and easy blockchain experience for users.

KUSD Stablecoin (U.S. & Russia)

KUSD is the stablecoin solution that seeks to effectively mitigate the arbitration risk and price volatility by pegging KLAY to US Dollar. KUSD also provides toolkits such as ‘Klaybook’ to facilitate smart contract deployment and ‘Klayfee,’ which enables fee delegation for Klaytn-based BApps.

Odin for Klaytn (Korea)

Odin for Klaytn is a real-time smart contract auditing service that allows developers to easily analyze and review their smart contracts in order to prevent security risk. It also issues immutable audit reports to certify smart contracts that no longer contain security risks or code errors.

The first five teams of Tier 1 will receive $100,000 each, which will be awarded in KLAY, while Tier 2 (the second five teams) and Tier 3 (the third five teams) will receive $50,000 and $30,000 worth of KLAY each.

The winning teams will also be promoted and listed on ‘DApp.com’ and ‘State of the DApps,’ which are also Klaytn’s partners. Over a dozen Klaytn-based BApps are already listed on both DApp.com and State of the Dapps. With the winning BApps to be additionally listed, we can expect to see a richer Klaytn ecosystem.

“We are excited to welcome prospective blockchain services in various industry domains including finance, entertainment, lifestyle, and technology,” said Chase Choi, the Head of Business. “Klaytn is going to provide the winning teams with full support on business and technical sides for successful service operation and mutual growth with us. To foster a healthy blockchain ecosystem, we also excluded gambling services,” he added.

For more information on the 15 winning projects, visit the official Klaytn Horizon webpage at www.klaytnhorizon.com.

 

SOURCE Klaytn

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Assured Asset Management Launches Supply Chain Finance Solution with Shui On Group

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Assured Asset Management Launches Supply Chain Finance Solution with Shui On Group

 

Assured Asset Management (“Assured”), a Hong Kong-based technology-driven asset manager, has launched its Traceable Accounts Payable (“TAP”) platform with the Shui On Group. TAP is a blockchain-based digital payment system backed by approved supplier account receivables and contract payables issued by anchor enterprises. The partnership aims to leverage TAP to illuminate transaction flows deep within Shui On’s construction supply chain.

TAP addresses a crucial pain point for business leaders: the lack of efficient, reliable and transparent methods for SMEs buried within supply chains to access liquidity. TAP leverages blockchain technology to record the transfer of goods and services and provides verifiable records of SME involvement in deep-tier anchor operations that enable access to liquidity regardless of SME size. TAP adds a new capacity for liquidity providers, banks and credit investors to access the yields of SMEs while using the credit profile of anchor enterprises through verifiable and immutable sourcing records.

Assured is partnering with the Shui On Group to integrate Assured’s core competency in financial technology development with Shui On’s Chinese construction supply chain to launch the platform. Together, the two firms aim to release a solution that benefits all stakeholders within Shui On’s supply chain, including Shui On, SME counterparties and financial institutions.

“Technology-enabled supply chain finance for small and medium enterprises is a significant growth opportunity in today’s financial industry,” said Robert Cheung, CEO of Assured Asset Management. “The TAP platform enables end-to-end financing within the entire supply chain using modern technologies to resolve the difficulties of SME credit risk assessment and address the unique financing needs of SMEs. We are delighted that Shui On resonates with the value of TAP and are excited for a great partnership going forward.”

“A robust supply chain is instrumental for Shui On. By creating an immutable audit trail, the TAP platform will benefit SMEs within our supply chain as well as our core business by illuminating transactions deep within our supply chain and reducing the risk of fraud and error,” said Allan Zhang, Executive Director of Shui On. “This partnership will provide a powerful solution to strengthen the overall efficiency and transparency of our construction supply chain. We see great long-term business value in adopting TAP to issue account receivables among our suppliers.”

Assured and Shui On will begin the onboarding process in December 2019 and anticipate opening the TAP platform for liquidity providers in Q1 2020.

 

SOURCE Assured Asset Management Limited

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