IoT, Augmented Reality, Artificial Intelligence are all areas of technology that are interacting in business to provide new experiences for customers, stakeholders and owners.
For example, suppose a customer is shopping for a new outfit. Normally she would try them on at a store. She could try one of the image creating features of some online stores, where an image of her wearing different outfits could be viewed to help with the decision. However, these apps bring in various possibilities of distortion.
Another approach she can take is to go to a store and look into a mirror equipped with the ability to show her image dressed in the outfits she is considering. She doesn't have to try them on, but the result is exactly the same as if she had. This image is augmented reality, aided by the use of AI. The mirror can be a part of the IoT world.
This is just one very small example of the use of exponential technologies.The scope of such applications is truly exponential, extending certainly throughout the supply chain and beyond.
From a management point of view, an issue arises from the vast amounts of data that becomes available from these technologies and the propensity of data to fragment. Different data elements are useful for different purposes, yet all data must be managed so as to protect it and preserve its integrity.It must be managed as a unit but used separately. This is one of the fundamental problems of modern information systems. And it is being substantially complicated by the use of exponential technologies.
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