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Technology

January 13, 2019

Origin in the 1610s, "a discourse or treatise on an art or the arts," from Greek tekhnologia "systematic treatment of an art, craft, or technique," originally referring to grammar, from tekhno-, combining form of tekhne "art, skill, craft in work; method, system, an art, a system or method of making or doing," from PIE *teks-na- "craft" (of weaving or fabricating), from suffixed form of root *teks- "to weave," also "to fabricate." Technology permeates our lives. It would be difficult for a business to survive without technology. Employees worry about their place in the supply chain. Businesses worry about getting left behind by not adopting technology as early as possible. The key techologies beginning to impact the supply chain are AI, blockchain, robotics, self-driving vehicles, and drones. One form of AI is text analytics. Text analytics is about deriving information from text sources – client interactions, product reviews, call center logs, emails, blogs, and many other forms of electronic text – so organizations can make business decisions more effectively. Computers turning unstructured data into structured data by using a system, art, or skill of scanning text much faster than humans. The future of business is technology and humans working together to solve business and societal problems. Humans tell better stories than computers. Computers will scan text enabling humans to tell better stories. More to come on the other techonologies impacting the supply chain... &

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