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Breaking Barriers: Women at the Intersection of Tech and Crypto

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Breaking Barriers: Women at the Intersection of Tech and Crypto

In the male-dominated world of technology and cryptocurrency, women have been steadily breaking down barriers and making their mark in recent years. While there is still a long way to go in achieving gender equality in these industries, the accomplishments and contributions of women at the intersection of tech and crypto are not to be underestimated. In this article, we will explore the challenges they have faced, the progress they have made, and the potential they hold for shaping the future of these fields.

The Gender Gap in Tech and Crypto

The tech and cryptocurrency sectors have long been criticized for their lack of gender diversity. Women have historically been underrepresented in both the workforce and leadership roles. This gender gap can be attributed to various factors, including biases in recruitment and hiring practices, limited access to educational opportunities, and a lack of female role models in these fields.

Pioneering Women in Crypto

Despite these challenges, pioneering women have made significant strides in the cryptocurrency space. Women like Elizabeth Stark, the co-founder of Lightning Labs, and Amber Baldet, the co-founder of Clovyr, have been instrumental in developing blockchain technology and pushing the boundaries of what’s possible in the crypto world.

Stark’s work on the Lightning Network, a second-layer solution for Bitcoin, has been crucial in addressing scalability issues and making microtransactions feasible. Baldet’s company, Clovyr, focuses on simplifying blockchain development and adoption, making it more accessible to businesses and individuals alike.

Women in Leadership Roles

In addition to making important technical contributions, women have also started to occupy leadership roles in prominent crypto companies. Notable examples include Caitlin Long, the CEO and founder of Avanti Bank, and Kristin Smith, the executive director of the Blockchain Association.

Caitlin Long’s Avanti Bank is pioneering the development of a regulatory-compliant bridge between the traditional financial system and cryptocurrency. Kristin Smith’s work at the Blockchain Association involves advocating for sensible crypto regulations in the United States. These women are not only leading their companies but also shaping the future of cryptocurrency policy.

  

Empowering Women in Tech and Crypto

To address the gender gap in tech and crypto, various initiatives and organizations have emerged to empower and support women in these fields. Programs like Women Who Code and Girls Who Code are providing opportunities for girls and women to learn coding and gain hands-on experience in technology. Additionally, conferences like the Women in Crypto Conference are creating spaces for women to connect, share knowledge, and inspire one another.

Challenges and Opportunities

While progress is being made, it’s essential to acknowledge the challenges that women still face in the tech and crypto sectors. Gender bias, workplace harassment, and unequal pay persist as significant issues. Overcoming these obstacles will require concerted efforts from both individuals and organizations.

However, the opportunities for women in tech and crypto are vast and growing. As these industries continue to evolve, there is a growing need for diverse perspectives and talents. Women bring unique insights and skills to the table, and their presence can lead to more inclusive and innovative solutions.

The Future of Tech and Crypto

As women continue to break barriers and make their presence felt in tech and crypto, the future of these industries looks promising. Increased diversity in the workforce and leadership positions will lead to more comprehensive and equitable solutions in blockchain technology, artificial intelligence, and other cutting-edge fields.

Furthermore, women entrepreneurs and innovators are likely to play a significant role in shaping the next generation of cryptocurrency and blockchain applications. Their perspectives on financial inclusion, privacy, and security will drive the development of new projects and products that cater to a broader audience.

Voyager Crypto Withdrawal: A Key Consideration

When discussing the intersection of women in tech and crypto, it’s essential to highlight key aspects that affect both genders. One such aspect is the process of crypto withdrawal on platforms like Voyager. Here are some crucial points to consider:

  • Accessibility for All: Women in tech and crypto are advocates for making platforms like Voyager more user-friendly and accessible to everyone, regardless of gender.
  • Security and Confidence: Ensuring the security of cryptocurrency withdrawals is vital for everyone, but women often emphasize building confidence in the process to encourage broader adoption.
  • Educational Resources: Women are actively engaged in creating educational resources that demystify the process of crypto withdrawal on platforms like Voyager.
  • Supportive Communities: Women-led communities and initiatives are creating spaces where individuals, regardless of their gender, can seek guidance and share experiences related to crypto withdrawals and investments.
  • Advocacy for Equal Access: Women in tech and crypto are advocating for equal access to crypto withdrawal platforms and services, promoting inclusivity and diversity in the crypto space.

Considering these points, it becomes evident that women in the tech and crypto sectors are not only contributing to the development of these industries but also working towards making them more equitable and accessible for all, including issues related to Voyager crypto withdrawals.

Conclusion

The intersection of technology and cryptocurrency is witnessing a transformative shift, thanks to the contributions and determination of women in these fields. While the gender gap remains a significant challenge, progress is being made, and women are increasingly taking on leadership roles, innovating, and advocating for change.

As we look ahead, it’s crucial to continue supporting and empowering women in tech and crypto. By doing so, we can ensure that these industries become more inclusive, diverse, and capable of addressing the complex challenges and opportunities that lie ahead. The future of tech and crypto is undoubtedly brighter with women breaking barriers and leading the way.

 

metaverse

Understanding How 3D AI Immersive Mixed Reality & Apple May Transform the Metaverse

One of the most significant changes in technology use for daily tasks is about to create major change for companies, enterprises, business leaders, and even consumers alike. The Metaverse’s immersive mixed reality technology is challenging the notion that any technology could have a greater impact than networked computers, the Internet, or even mobile computing, which was virtually unthinkable just a few short years ago.

Couple this with Apple’s recent entry into the virtual headset market, and companies in every industry have the chance to completely introduce new ways in which they design, produce, train staff, and build products on the manufacturing floor.

How Companies Will Leverage “Digital Twins”

The Metaverse is a virtual environment where people, consumers, and workers can come together to communicate, collaborate, and share through a virtual presence on any device. Knowledge workers and things are represented by “digital twins” in the Metaverse, which is being built by today’s IT leaders. This calls for businesses to create immersive virtual worlds, or metaverses, that will enable staff to virtually collaborate using their digital twins through chats, emails, video calls, and even in-person meetings.

Well-known companies like Microsoft, Accenture, and Facebook, which itself is now called Meta, are all paving the way toward this new reality of business, but there are companies working behind the scenes building immersive reality, modeling and simulation technologies that will ultimately power this new Metaverse. 

What Companies Can Do with the Metaverse

The Metaverse enables people and professionals to interact with one another in an immersive experience once they are able to co-exist in a virtual environment where they exist as avatars, possibly even as holograms in the future. This implies that users of mixed-reality headsets like the HoloLens or Apple’s new headset as well as regular smartphones and laptops can access virtual settings from virtual meeting applications.

In one of the earlier enterprise-level buildouts, Accenture has been developing a “virtual campus” where its employees meet for coffee, parties, presentations and other virtual events. The company also leverages this virtual meeting space when onboarding new employees so they can build their virtual twins.

Modelling is at the center of powering the Metaverse

In this virtual Metaverse, digital twins based on modeling and simulation play a leading role. Simulation allows companies to take copies of the digital twin, run simulations on it and then identify optimizations that are too complex to find by monitoring the physical environment alone.

For enterprises and businesses leveraging the Metaverse, the power of simulation will be a game-changer in a variety of industries, such as optimizing production planning in the automotive sector, accelerating design in the aerospace sector, improving overall production efficiency for construction manufacturers, and increasing accuracy for consumer packaged goods companies. Many companies are poised to use virtual simulation to generate more revenue and make better business decisions.

Optimum immersive reality systems are needed to support ultra-realistic, high-fidelity digital twin visuals during the modeling and simulation process; precise fusion of the virtual on real world in a multi-platform environment and the ability to demonstrate a variety of realistic environments. 

Along with Apple’s new headset, the Metaverse is a new kind of application which is enabled by tight integration between real and virtual worlds. The Metaverse is enabled by multitude of new technologies broadly in five groups as shown below: 

  1. Communications and computing infrastructure:  Metaverse will need to perform large scale compute-heavy tasks, and access large databases to merge the real and virtual world. 
  2. Management Technology: Metaverse will need a lot of resources like energy, compute etc. This layer manages and allocates most optimum resources to run Metaverse. 
  3. Fundamental common technology: AI, Spatio-Temporal consistency are fundamental common technology for Metaverse. 
  4. Virtual Reality object connection: Metaverse will create 1:1 connection between real and virtual world objects and technologies like blockchain, and identity modeling will enable that. 
  5. Virtual Reality Space Convergence: Metaverse will fundamentally need a new medium to interact. AR/VR/MR, BCI, Gaming technologies will enable this.     

The Metaverse is going to be important for all businesses, enterprises and consumers. Today, people and employees can only experience the internet when they log online on their computer or mobile device, but with new connectivity, devices and technologies powered by immersive mixed, we’ll be able to experience the internet all around every single day.

Apple has consistently concentrated on utilizing cutting-edge technologies to produce high-value products that ooze the brand’s promise of quality and sophistication over the past few decades. The company’s new headset has the potential to work in tandem with today’s top cloud-based 3D-AI mixed immersive platforms to assist enterprises and business in almost every industry change the way business is conducted, increasing overall efficiencies, lowering costs, and improving profit potential across the entire spectrum.

About The Author

Dijam Panigrahi is Co-founder and COO of GridRaster Inc., a leading provider of 3D AI cloud-based AR/VR platforms that power compelling high-quality AR/VR experiences on mobile devices for enterprises. For more information, please visit www.gridraster.com

 

 

refurbished it

Top Reasons on Why it is Better to Buy Refurbished IT

When it’s time to purchase a new laptop, there’s an alternative you may not yet have considered, Refurbished IT. Before dismissing the suggestion, it’s worth spending a few minutes exploring the reasons behind such a statement. To begin with, a refurbished laptop has many advantages, particularly with regard to protecting the environment, sustainability and high performance. Why is it better to buy refurbished IT? Let’s find out.

What is the Meaning of Refurbished?

There is a clear difference between refurbished and second-hand IT. The latter means it’s a laptop that has been used and is sold as seen. Whatever faults the laptop may have, such as water damage or overheated components, they come with it. That’s the main reason why second-hand IT rarely has a warranty. Once you discover its shortcomings, there is no chance of receiving a refund or a replacement.

Although a refurbished laptop has usually endured plenty of action, it’s sold in virtually perfect condition. That’s because it has been completely overhauled by experienced IT technicians. They test every component including the Central Processing Unit (CPU). Any faults are expertly repaired or if that’s not possible, the component is replaced. By the end of the procedure, the refurbished laptop is thoroughly tested and inspected, ensuring it provides the same level of performance as when it was new.

Reassurance of a Warranty

When purchasing a refurbished laptop from a trusted company, you’ll find several safeguards. These may include a full refund within fourteen days if you are not satisfied with the laptop’s performance. You’ll generally receive a warranty that lasts as least twelve months.

Many such companies even offer extended warranties, which should provide you with plenty of reassurance about the quality of their work. You may even be offered regular servicing, ensuring an excellent performance throughout its lifetime.

An Opportunity to Acquire a Powerful Laptop

When you choose a refurbished laptop, you are assured of a reliable, up to date machine at a cost-effective price. Personal laptops can often be 50% less than their original cost, yet their performance is as good as new. If you’d like to upgrade to a business model, a reputable company usually offers a wide range of high performance refurbished laptops.

These may have once been part of an IT department in a large company that has a policy of replacing its equipment on a regular basis. It gives you the opportunity to select a business model at a cost-effective price. In many instances, you can save as much as 80% compared to a new equivalent.

Refurbished Laptops are Secure

When purchasing a second-hand laptop, it might still include data and files from the previous user. By contrast, a refurbished laptop is expertly cleansed. Reputable ITAD companies use various methods such as wiping or overwriting data to render it completely unreadable. In many instances, particularly with business models, the hard drive is usually shredded and replaced.

When purchasing refurbished equipment from a trusted supplier, you won’t inherit someone else’s data. The devices are also reliably checked for security. It ensures they don’t contain hidden code or malicious spyware. You can use a refurbished device with confidence, knowing it’s safe and secure.

Why is it Better to Buy Refurbished IT?

Without doubt, one of the greatest advantages in choosing a refurbished laptop is sustainability. Refurbishing is a strategy that protects the environment while making the most of available resources. It’s an essential part of the circular economy where nothing goes to waste.

According to Forbes, an astonishing 155,000 tons of electronic waste is deposited in UK landfill sites every year. On average, it’s the equivalent of every person discarding 23.9 kilograms of e-waste. Many of the devices are thrown away even if they are still perfectly usable simply to make way for the latest model.

Companies specializing in IT Asset Disposition recycle all the e-waste they collect. If a laptop or component cannot be reused, its valuable metals are retrieved and recycled. Even plastic materials are recycled for alternative use.

Conclusion

When purchasing refurbished equipment from a reputable company, you’ll usually find powerful, up to date laptops that won’t cost a fortune. They are reliably secure and endorsed by a warranty and optional servicing. Most importantly, you’re helping to protect the environment from harmful e-waste. Refurbishing also reduces the demand for raw materials. Purchase a refurbished laptop and you gain reliable sustainability with the benefits of a circular economy.

 

robotics intelligent

Navigating the Way of Industrial Automation and Robotics

FMI predicts the Intelligent Power Module Industry to have a CAGR of 11.8% by 2033.

The intelligent power module market is predicted to be worth US$ 1,603.7 million in 2023 and rise to US$ 4,907.3 million by 2033. Demand was initially expanding at a market CAGR of 9.7% between 2018 and 2022.

Due to high power efficiency and low power consumption, the demand for intelligent power modules is well-suited for consumer electronics, smart grids, and other systems. The great advantage of SiC is its enormously improved efficiency. In addition to being quickly adopted in industries that are energy-focused, like electric cars, SiC also improves the efficiency of electronics across industries and helps the world’s carbon footprint. This affects the global growth of the market.

Market Challenges

For the intelligent power module sector to expand quickly, new trends and technologies must be incorporated. Although new technology and its advantages appeal to engineers, creating a control structure is difficult. As a result, the IPM market adopts new technologies at a relatively moderate rate, which is likely to impede the technology’s development.

Key Takeaways

  • By 2033, the intelligent power module market in the United Kingdom is likely to expand, with a CAGR of 23.8%.
  • In 2022, the United States accounted for a share of 19.2% in the intelligent power module sector.
  • The intelligent power module market was significantly expanding, with a size of US$ 1,455.3 million in 2022.
  • By 2033, the intelligent power module market in China is likely to expand, with a CAGR of 20.8%.
  • In 2022, Germany expanded significantly in the intelligent power module business, with an expected share of 7.6%.
  • By 2033, India is projected to expand significantly in the intelligent power module market, with a share of 25.2%.
  • In 2022, Australia developed significantly in the intelligent power module business, with an expected share of 3.1%.
  • Japan’s intelligent power module industry share developed significantly, with a 5.4% share in 2022.
  • In 2022, the IGBT segment led the market with a significant share and is likely to hold a top spot in the market, in terms of type.
  • Based on the application, the consumer electronics market dominated the industry in 2022.

Competitors Winning Strategies

Top companies are releasing updated versions of intelligent power modules; these modules are anticipated to be employed in several applications. To get a competitive advantage in the market, manufacturers are concentrating on crucial strategies to update the system.

Recent Developments

  • Magnachip introduced a new MOSFET 40V version in April 2022 that is vital to vehicle safety and has AEC-Q101 certification. It has a wide range of applications, including BLDC applications for electric oil pumps, electric power steering, engine cooling fans, and battery cooling fans.
  • Infineon Technologies significantly increased its manufacturing capacity for wide bandgap (SiC and GaN) semiconductors in February 2022, bolstering its position as the industry leader in power semiconductors.
  • The business is spending more than US$ 2 billion to construct a third module at its Malaysian facility in Kulim.
  • If completely outfitted, the new module brings in an additional US$ 2 billion in income per year from items made of silicon carbide and gallium nitride.
  • Mitsubishi Electric Corp. presented its newest ultra-compact intelligent power module (IPM), branded as DIPIPMTM Ver.7, in August 2019. This module’s characteristics include less radiation noise, low power consumption, and more flexible heat dissipation.
global Integrated Passive Devices pulp demand power manufacturing electronics

Electronic Manufacturing Services & their Role in Powering the Modern Era of Technology

In the age of rapid technological advancement, smart technologies and devices have become integral parts of our daily lives, revolutionizing how we communicate, work, and interact with the world around us. From smart homes and wearable gadgets to connected vehicles and IoT-enabled industrial equipment, these innovations are shaping the future. According to an IoT forecast published by Cisco, in 2023, the number of interconnected devices owned globally was 3.6 per person.

At the heart of bringing these cutting-edge products to market lies the electronic manufacturing services (EMS) market, which is projected to record over 5% CAGR over 2023-2032, as per a report published by Global Market Insights Inc. Smart technologies demand intricate designs and miniaturization to pack advanced functionalities into compact form factors. 

EMS companies possess the expertise to translate complex designs into tangible products. Whether a smart thermostat with a sleek interface or a fitness tracker with sensors that monitor various parameters, EMS providers excel in creating products that seamlessly blend functionality with aesthetics. With the advent of Industry 4.0 and the increasing demand for cutting-edge technologies, electronics manufacturing services will play a crucial role in shaping the future across various industries, including healthcare, renewable energy, and automotive.

EMS emerges as a key smart manufacturing tool

The Fourth Industrial Revolution, also known as Industry 4.0, has ignited widespread change across various industries worldwide. One of the most notable transitions is the increasing adoption of automation, as companies strive to optimize production lines for heightened efficiency, reduced costs, and elevated product quality.

For EMS providers, this translates to harnessing cutting-edge technologies such as automation, the Internet of Things (IoT), 5G, and key Industry 4.0 principles. These innovations empower the creation of smart factories that elevate efficiency, resilience, and customer contentment through seamless integration of machines, processes, and systems. This environment fosters continuous data collection, analysis, and action. By employing this data-centric approach, more informed decisions are made, leading to streamlined processes and enhanced performance.

In March 2022, Huawei, a global front-runner in Information and Communication Technology (ICT), inaugurated the Huawei Local EMS (Electronic Manufacturing Service) Factory in Brazil—a groundbreaking moment marking the nation’s first foray into 5G-powered smart manufacturing. The state-of-the-art facility was equipped with artificial intelligence, cloud, and IoT technologies, to ensure improved production efficiency and productivity. The launch essentially underscored the fusion of advanced tech and manufacturing prowess, propelling the Brazilian manufacturing landscape into a realm of heightened sophistication and innovation, and paving new pathways of success for the EMS industry.

EMS in healthcare technology

The influence of the EMS industry is not limited to consumer electronics; it encompasses the development of several groundbreaking technologies poised to shape the future. Electronics manufacturing service providers play a significant role in producing components for electric vehicles, renewable energy systems, and advanced medical devices, to name a few.

The healthcare sector in particular is at a pivotal juncture in recent years, facing the challenge of handling increased demand, backlogged appointments, staff strikes, and capacity constraints due to several global events, most notably the COVID-19 pandemic. In response to this, many healthcare organizations are embracing digitization, implementing advanced medical technologies and connected devices, and unlocking new possibilities, such as remote patient monitoring (RPM). Based on a report from Global Market Insights Inc, the medical and healthcare segment accounted for over 5% share of the electronic manufacturing services market in 2022. Much of this progress is attributed to government initiatives promoting the digitization and electrification of medical equipment worldwide.

For instance, the World Health Organization (WHO) and European Commission announced the inception of a digital health partnership in June 2023, wherein WHO will adopt the European Union’s system of digital COVID-19 certification. This will pave the way for a global system that enhances mobility and safeguards global citizens against ongoing and future health threats, including pandemics. This initiative represents the foundational step towards the WHO Global Digital Health Certification Network (GDHCN), aimed at delivering improved health for all through an array of digital healthcare products.

The integration of technology, particularly the Internet of Things (IoT) connectivity, is revolutionizing healthcare, offering convenient ways to monitor patient health. RPM technologies hold promise as solutions for the self-management of patient conditions and providing continuous health insights to medical practitioners. Electronics developers are taking note of this trends and actively working to establish targeted EMS facilities for the production of advanced tech-based solutions for the medical domain.

For instance, in August 2021, US-based Kimball Electronics launched a dedicated business unit, Kimball Medical Solutions, offering multifaceted manufacturing solutions for medical customers. Leveraging the full extent of Kimball Electronics’ capabilities, the new business unit was designed to serve as a single-source partner for all medical manufacturing needs, expediting speed to market throughout the product lifecycle and providing comprehensive electronics manufacturing, precision injection-molded plastics, contract manufacturing, assembly, and packaging services.

All in all, the electronics manufacturing services (EMS) market is witnessing an exciting era of transformation and growth. The integration of advanced medical technologies and IoT-driven solutions is revolutionizing patient care, while governments’ initiatives drive digitization and electrification further. As the EMS industry embraces digitization, collaboration, and innovation, smarter factories, enhanced efficiency, and groundbreaking products will power a dynamic landscape that will continue to drive progress and propel businesses into a new era of success.

 

Applicant Tracking Systems Market: – Delving into Opportunistic Arena

During the 1970s, the very first applicant tracking systems came into the picture. These early systems were developed to manage job applications manually. Furthermore, the manufacturers began to inculcate advanced features with time. After this, the rise of the internet altered the hiring process remarkably. There were advanced algorithms were introduced and recruiters started to filter out 1000s of companies according to their preferences. 

A survey conducted by Research Nester portrays astonishing results such as:

  • Approximately 91% of Fortune 500 companies utilize ATS.
  • Almost 75.2% of recruiters around the world utilize ATS
  • 62.1% of talent sourcing teams claim that they find out more high-quality candidates in comparison to the applicants. 

Hence, it can be said that this market is expected to flourish in the future. Let us now delve deeper to understand some other aspects.

Features of an Applicant Tracking System

ATS makes it extremely convenient for applicants to apply for various positions. Some key features of ATS are written as follows: –

Resume parsing- In this process, data is extracted from various resumes. Some of the imperative contact information such as educational background, skills experience, and titles. 

Ultra advanced search- This feature enables the person to filter out particular keywords such as experience, education, titles, etc. 

Candidate sourcing- This allows the users to instantly search for identity and reach out to potential candidates for several appropriate applications. 

Email templates- Most of the ATS render templates to ensure all the correspondence.

Multi-channel sourcing- This enables the users to search for various channels including job boards, employee referrals, and social media. 

Advanced analytics and reporting- This system allows the user to generate exhaustive reports on various hiring trends etc.

Facility to schedule interviews- The system is able to automate the interviews and the companies do not have to squander time on rescheduling.

Real-time collaboration- This allows various people from all over the world, and organizations to get involved in the decision-making, sourcing, and decision-making regarding various hires. 

 Automation based on various conditions and events- This means that ATS will only be triggered to do something.

Furthermore, most large corporations utilize some form of applicant tracking system. A research conducted by Research Nester states that approximately 66.1% of large companies and almost 35.2% of small organizations are dependent upon recruitment software. It is quite evident that ATS is here to stay and thrive. 

Advantages of modern ATS: 

Modern applicant tracking systems render various advantages for recruiters and organizations:

-Enhanced productivity: According to a finding of Research Nester, almost 70.5% of the respondents would raise productivity with the help of ATS. 

An ATS allows companies to portray or advertise various job openings and manage candidates efficiently. The increased efficiency enables the companies to manage the recruitment process. 

-Recruiters are able to efficiently and promptly screen numerous applications with the utilization of modern software capabilities. 

– Eliminates the hiring time: Research Nester conducted a survey and found that almost 86.2% of recruiter’s state that using an ATS decreases their time to hire. By the deployment of an ATS, recruiters find a permanent solution. It is able of automating the process of job postings on various boards. 

– Enhanced candidate experience: ATS improves the experience and the well-being of the applicant. These systems decrease the process of hiring and make smooth procedures. 

The Future of Applicant Tracking Systems:

As technology continues to grow, application-tracking systems are going to be ultra-modern. In the future, it can be expected that more modern artificial intelligence algorithms are going to be incorporated into the ATS. There might be the introduction of augmented reality and virtual reality which revolutionize the future. 

The global applicant tracking systems market size was anticipated to garner USD 2.3 billion in the year 2021 and it is anticipated to exhibit USD 4 billion by the end of 2030. The rising demand for digitalization and automation along with the adoption of remote working models is acting as fuel for growth of the market.   

The Asia Pacific region is anticipated to grow at a remarkable CAGR during the forecast period. The reason for this is the high population of applicants for various job opportunities. 

Final notes: 

It is quite evident that the market is holding lucrative opportunities for the future. There is no doubt that AI-powered ATS is going to remain thin demand in the future. These systems are anticipated to be fully integrated with numerous social media platforms like LinkedIn, Facebook, etc. ATS platform will become even more sophisticated with the amalgamation of AI. 

Although, it is prudent to understand the nitty-gritty of any market. It is advisable to know the market challenges and regional analysis so that entrepreneurs can make sound decisions. The knowledge of the market is imperative for taking business to the zenith. 

Author bio

An experienced research writer, strategist, and marketer with a demonstrated history of research in a myriad of industries. I love to distill complex industrial terminologies of market space into simpler terms. 

 

smart logistics storage

4 Benefits of Integrating an Automated Storage and Retrieval System

As logistics professionals investigate how to keep productivity high while workers handle an increasing number of items, many believe automated storage and retrieval systems (ASRS) could help them achieve the desired scalability and consistency. An emerging trend involves using artificial intelligence (AI) for even better results. Here are some things leaders can expect by implementing such systems.

1. Raise Order Fulfillment Rates

Many companies must fill more orders than ever, particularly with customers from all over the country or world purchasing goods online and expecting the products to arrive in a matter of days. Logistics professionals must carefully coordinate what happens once goods leave a factory, but they can get off to a strong start by improving the coordination of warehouse-related movements. Automated storage and retrieval systems can help.

One such system — which utilizes AI, smart sensors and robotics — can bring significant workflow advantages. They include picker productivity rates increasing by four to five times, so workers can get more done in less time.

This particular system uses mobile robots to go down aisles, reach individual bins and bring them to the proper workstations. From there, humans can do the necessary processing tasks to prepare products for shipment. Such productivity improvements are particularly advantageous for companies that often deal with demand fluctuations.

For example, many businesses process more orders during the holiday season or when students return to school. ASRS infrastructure supports decision-makers to handle those spikes with ease.

Before investing in ASRS options with built-in AI technology, people should consider which problems they want to overcome or what they hope to achieve. They should then use that information to determine which commercially available systems match their requirements most effectively. Alternatively, custom solutions are possibilities when people have specific needs commercial products don’t yet meet.

2. Integrate ASRS With Warehouse Management Systems

Many logistics leaders find they must use warehouse management systems (WMS) to stay competitive in changing environments. These tools help users with multiple needs. For example, they can rely on the associated data to determine whether they have enough employees to handle anticipated labor needs.

A WMS can also track goods as they move around the warehouse. That’s beneficial for preventing high-value or large shipments from getting lost, which could represent significant losses for the affected companies. Similarly, if a business has ongoing problems with goods getting lost or broken, the WMS could help leaders determine what’s going wrong and why.

Most of today’s leading WMS systems have AI features. These typically assist with resource management, including predicting which products will sell fastest or recommending when people should reorder certain items to avoid unplanned stockouts.

One way to make the most of those offerings is to let the AI guidance shape how people use ASRS infrastructure. Perhaps the WMS algorithms predict a product will sell much faster than others. In that case, people may change how much of the item they have on hand, as well as its location within the automated storage and retrieval system. Those who take that approach should always give themselves ample time to learn how to use AI features.

It’s also important to use artificial intelligence as a guide that supports human expertise without replacing it. Well-trained algorithms can process data much faster than humans, allowing them to spot trends. However, AI tools aren’t perfect, so people should always apply their judgment before approving anything an algorithm suggests.

3. Maximize Available Storage Space

Many warehouse managers face the challenge of accommodating increasingly more products and categories. Such circumstances increasingly push people to investigate storage options. For example, a pallet flow racking system allows storing products up to 20 pallets deep, significantly increasing the warehouse’s available density.

Logistics professionals know how important it is to store things strategically, creating systems that support defined business needs. An ASRS solution is not the only option, but it’s popular due to the benefits of combined density and automation. People can also customize how items get stored in their facilities.

One frequently chosen possibility is the first-in-first-out method. It’s one of the best ways to manage perishable goods in the food, beverage or pharmaceutical industries. This approach means the products in storage the longest are the first ones a company uses. It can prevent items from expiring before customers use or even see them.

Some ASRS infrastructure also lets people take advantage of shallow and deep storage, depending on their needs. One beverage bottler in the Asia-Pacific region has an incredible 12,000 storage locations, allowing the business to handle current and emerging requirements.

When decision-makers want their ASRS to have integrated artificial intelligence features, they must always consider their must-have attributes. Automated storage and retrieval systems with AI are still relatively new. That may mean it’s necessary to have some tradeoffs when people are adamant their new system must include AI.

4. Save Time With Pick-Path Optimization

The pick path is an employee’s route through a warehouse when grabbing items to fill orders. However, most automated storage and retrieval systems also optimize their pick paths to work as efficiently as possible.

One commercially available AI solution reduces congestion and dwell time while minimizing travel distances. It can still achieve those benefits when users store goods in differently-sized containers. This option suits warehouses with up to 20,000 SKUs, providing up to 40% more throughput than manual operations.

Some companies also combine automated storage and retrieval systems with mobile robots to further reduce workers’ time moving through warehouses. That’s a practical way to implement artificial intelligence if the ASRS does not include the technology.

Before using any automated systems in a facility, an excellent starting point is to ask workers which tasks consume most of their time and what could make them more efficient. Their answers may be valuable for planning which ASRS to use so employees can maximize their time.

People should also view pick-path optimization as a constantly changing aspect due to how circumstances shift when items get added or removed from a warehouse. One of the benefits of using AI is the technology can recognize what’s different and make decisions accordingly.

Automated Storage and Retrieval Systems Make Good Business Sense

The four reasons above highlight why logistics professionals commonly choose automated storage and retrieval systems to streamline operations. Selecting options with built-in artificial intelligence are particularly useful for supporting decision-making in high-volume, fast-paced environments.

 

technology

What Challenges Technology Brings with The Industrial Revolution

Recent tech advancements have opened doors to various new opportunities. Automation, digitalization, and data analytics– technologies like these are now a part of the industrial revolution, driving innovation and fostering growth in the industry. However, the merge of industrial revolution and technology comes with challenges too. Let’s discover what this alliance can offer and how to battle the obstacles and reshape the future. 

How Technology Is Transforming Industries

Another industrial revolution is emerging with the help of advanced technology, bringing significant good and bad changes. The traditional industrial processes are no longer fruitful because of the automation, digitalization, and revolution of processes. Staying in the competition is crucial for businesses, making them shift from traditional to advanced processes. 

This shift is entirely changing the business landscape while playing a key role in decision-making. Since data and analytics are more critical in the digital age, they influence decision-making. 

Find out how automation, digitization, data analytics, and advanced manufactured processes have changed the landscape of traditional processes and decision-making below: 

Automation in Industries Creating Job Displacement 

Robotics and artificial intelligence advancements have streamlined a vast portion of industrial processes. Automation technology has eliminated repetitive tasks and routines, creating job losses in some industries. 

Although this reduced the dependency on manual labor, it also made the processes more productive and efficient. Such job displacement is short-term as automation also raises the demand for reskilling and upskilling workers who can handle higher-value jobs. Now the industrial workforce is going through a revolution as it requires the power of unique human skills. 

Industrial Digitalization Gives Rise to New Business Models 

Newer technology enabled the digitalization of technologies where businesses are switching from traditional processes to digital workflows. Digitalization helps businesses streamline operations, improve customer experiences, and develop new business models. 

Digitalization is emerging with new opportunities. Companies can now enhance efficiency, personalize offerings, and explore innovative revenue streams utilizing many digital platforms, cloud computing, and data analytics. 

Data and Analytics Helping in Decision-Making 

Technologies like machine learning, big data analytics, and predictive modeling are now used to extract valuable insights. Businesses are using such technologies to collect data for high-level decision-making. The boom in data and analytics has helped businesses optimize operations, target customers, and develop informed strategies. Furthermore, data analysis also helps companies cope with market changes and improve customer satisfaction. 

Manufacturing Technologies Powering Up Production & Distribution 

Advanced manufacturing technologies have emerged as a powerful force in transforming industries. For example, 3D printing is now used for complex and customized object creation, reducing prototyping costs while improving production. 

Changes in manufacturing technologies allow businesses to reduce costs and improve efficiency. This also opens up a new array of distribution scopes using the latest retail models. Allowing businesses to reach global customers. 

The Rise of The Digital Economy

Technology has unlocked new growth opportunities. Advanced communication and a range of digital facilities allowing businesses to build an online presence, adapt new economic activities, and easily reach global audiences. 

Such advancements have led to the rise of the digital economy. More businesses are coming online where they can easily access the global market. Entrepreneurs, small businesses, and established companies can grow and scale by leveraging the latest technologies. 

Challenges Brought by Recent Technological Revolution 

Technological advancements have indeed brought significant benefits and opportunities. But there are also some challenges on the path. Two major challenges are the rise of the gig economy and the digital divide.

The gig economy leads to a shift in the workforce. It offers flexibility and independence to workers but lacks traditional employment stability. Gig workers often face income instability, limited access to social protections, and a lack of job security.

The new employment models seek employees with technology skills. This workforce transformation poses a bigger challenge for those with limited access to the latest technology. In parts of the world, access to the Internet, education, and technological training is still limited. This is why not everyone can participate in this technology-based economy, which creates new inequalities and a digital divide. 

Ensuring an Inclusive Economic Development

We cannot stop the technological boom reshaping the economy and throwing some challenges in our way. Instead, we can take measures to navigate the obstacles and embrace the revolving technologies to ensure inclusive economic development. 

To tackle the challenges, government, businesses, and individuals should come forward and make efforts. Individuals should put efforts to fit into the changing economy. For this, they should work on themselves and update their skills regularly. Governments and businesses should support this skill improvement by offering education and training. In such cases, adaptation of policy and regulation is also necessary to keep things fair and balanced.

The digital divide is another concern the government should address. They need to promote policies that encourage businesses to make solutions to meet the needs of a diverse user base. For that, leaders can offer trophies or certificates as encouragement. It’s crucial that everyone, including government and businesses, understand the role of ethical implications. 

Mike Szczesny is the owner and vice president of EDCO Awards & Specialties, a dedicated supplier of employee recognition products and trophies, branded merchandise, and athletic awards. Szczesny takes pride in EDCO’s ability to help companies go the extra mile in expressing gratitude and appreciation to their employees. He resides in Fort Lauderdale, Florida.

 

kobold

A Tech-Savvy Mining Venture

Venture-capital firm fundraising is at a 9-year low. Earlier this year, 2022 fourth-quarter results revealed what most of the tech industry had already sensed – a 65% drop in new funds raised compared to 2021. Fund-backers only invested in 226 venture-capital funds in the 2022 fourth-quarter marking the fewest for that end-of-year period since 2012. In summary – a dry-up that continues to have the industry spooked. 

Yet, in every down cycle, there are always a few surprises. But this surprise fuses a rather old industry with a very new one – a mining startup. KoBold Metals out of Berkeley, California uses artificial intelligence to explore cobalt, lithium, copper, and similar metals. The start-up is Silicon Valley’s latest unicorn (+ $1 billion valuation) and some prominent KoBold backers include none other than Bill Gates. 

As part of Gates’s climate-tech venture-capital firm, Breakthrough Energy Ventures, KoBold’s latest round of fundraising netted roughly $200 million. Breakthrough Energy invests money on behalf of other high-profile figures such as Jack Ma and Jeff Bezos. KoBold also attracted the famed venture-capital firm Andreessen Horowitz, BOND, and T. Rowe Price. 

KoBold is making a splash at a propitious time. Investors are keen to remain committed to a greener economy where carbon-removal projects, battery production for electric vehicles, and clean hydrogen initiatives are front and center. These all require metals that are becoming increasingly difficult to find. Couple this with advances in artificial intelligence and the merging of the two worlds is an ideal match in 2023. 

KoBold’s algorithms are working and a recent nickel sulfide yield in Quebec grabbed investor attention. In a region that was not accustomed to overly abundant yields, KoBold managed to yield more than the industry average for Quebec. The company is operating in North America, Australia, and Africa, and in December plunked down $150 million to purchase a controlling stake in a Zambian copper deposit. Traditional methods of mining have not changed much and the success rates of locating new deposits are declining. Technological breakthroughs are desperately needed, especially against a backdrop of more metals to build a greener future.

Although KoBold’s influence continues to grow, they are expanding with an eye on partnering with some of the industry’s leading minters. For example, cooperation with BHP and Rio Tinto leverages tremendous mining expertise that KoBold can certainly benefit from while continuing to fine-tune their exploratory AI

It’s heartening to see collaboration between two industries that will undoubtedly help the world advance in a more sustainable direction. We cannot relegate mining to the proverbial dustbin because new technologies cannot yet replace them. But working together to make the current process cleaner and more efficient is a laudable goal.     

AI

The Generative Potential of Artificial Intelligence

We’re at a point where artificial intelligence (AI) has successfully crept into nearly every facet of our lives. Some cringe at such a thought, while others embrace the ease at which we navigate our surroundings shepherded by AI. The last two years have been dominated by generative AI applications and their ability to create digital art, write really impressive text, and even compose music. Stable Diffusion, GitHub Copilot, and ChatGPT are paving the way and a recent report by McKinsey aims to investigate the economic potential of generative AI and workforce impacts. 

In “The economic potential of generative AI: The next productivity frontier,” the McKinsey authors looked at the Retail and Consumer Packaged Goods, Banking, and Pharma and Medical Products industries.      

Retail and Consumer Packaged Goods

Generative AI has the potential of producing an additional $400 billion to $660 billion for the Retail and Consumer Packaged Goods industry. This would arrive via productivity increases of 1.2 to 2% of annual revenues. Inventory and supply chain management, customer service, and marketing and sales functions could be streamlined and automated in the same way that traditional AI helped many companies manage data across extensive warehousing and supply chain networks.  

Banking

McKinsey estimates increased productivity of 2.8 to 4.7% of the Banking industry’s annual revenues with generative AI. This would result in an additional $200 billion to $340 billion. Banking is a white-collar industry and there is a significant amount of time spent writing emails, putting together presentations, and similar tasks. Generative AI could automate these tasks as well as the tasks of service representatives (call-center agents, etc). 

Pharma and Medical Products 

A remarkable amount of revenue (roughly 20%) is spent on Research and Development within the Pharma and Medical Products industry. A new drug takes anywhere from 10 to 15 years to bring to market and generative AI could vastly improve the quality and speed of this process. This, along with other gains, could equate to additional revenues of $60 billion to $110 billion (2.6 to 4.5% of annual revenues). Improving the automation of preliminary screening and enhancing indication findings (diseases or symptoms that justify the use of a medication or treatment) are two areas that hold the most value for generative AI. 

Lastly, the paper’s authors rightly note that productivity growth has slowed over the past decade. The main engine of GDP growth, the successful deployment of generative AI could automate some individual work activities translating to annual productivity boosts of 0.2 to 3.3% from now (2023) to 2040. Yet, this is highly dependent on the individuals affected by AI technology shifting to other work activities while maintaining their 2022 productivity levels.