We are already seeing the Internet of Things starting to be implemented in a lot of organisations

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We are already seeing the Internet of Things starting to be implemented in a lot of organisations and systems, meaning that sensors are in place that collect data and use this Big Data to more effectively control and monitor systems. Those systems could be a vehicle such as our personal cars or a fleet of trucks, or could be health monitors on a watch that collects data about our bodies, or indeed anything else where we wish to monitor and control. This plus artificial intelligence applied to the use of that sensed data is at the heart of how we will increasingly improve how we control our systems, including all types of manufacturing systems, transport such as automated trains, ships and planes, and a host of service-producing organisations. Top companies such as Apple, Google, IBM, Amazon, Salesforce and Facebook are making big investments in these technologies, in some cases for their own operating purposes and for selling to client firms. In financial services such as banking and insurance, these technologies are also being applied to intelligently make credit-granting decisions more effectively, set prices and interest rates. Supply chains are being effectively interconnected like never before, improving their efficiency through better coordination from end to end, across multiple organisations. We have gone from paper-based recording of data to electronic/computerised digitisation, to full technology-based digitalisation in a relatively short time in some industries, and there is almost no limit to future developments and innovations. Yet there are many challenges to maintaining control, including the risks of hacking and breaches, technical breakdowns, misuse of technology, privacy concerns and aspects of how people will reskill themselves for this 'brave new world' that we are rushing into. New technology cannot be ignored, yet it brings risk! Question How can managers make and implement good decisions about new technology, while guarding against risks? What knowledge, data and tools will be needed to achieve best outcomes?

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Management

ISBN: 9780324317985

7th Edition

Authors: Richard L. Daft

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