This week, we begin with an essay exploring the benefits of data compliance in terms of building trust and improving publicity. Next, we have an article on how applying blockchain technology to Electronic Health Record (EHR) will lead to better treatment & more lives saved. Then, we have a piece on autonomous self-learning systems developed by AI that can boost the efficiency of industrial processes. Following that, we have an analysis of the use cases of applying alternative data in businesses. Next is an article that talks about the implementation of open banking in India & Australia and potential synergies in these two markets. Lastly, we have a story on how businesses are concerned about economic benefits of their activities and the possible impacts that could harm society or damage the environment.
The Business Benefits Of Data Compliance
All businesses collect data — from major retail chains and airlines to credit bureaus and social media giants. That’s nothing new. Today, however, there are rising concerns surrounding data compliance. These issues involve how data is gathered, analyzed and secured. Data compliance improves a company’s image, fosters customer loyalty, attracts high-caliber employees and keeps businesses compliant with regulations.
How On-chain Medical Data Can Help Save Lives
Medical records are one of the most important links in the healthcare chain, but they aren’t always properly updated, and data entry is putting a notable strain on physicians and nurses. However, the answer may lie in the power of blockchain technology, which allows for trustless verification of data and unfalsifiable records. By leveraging data on-chain, hospitals and patients alike stand to both be better served and safer in the future of modern medicine.
How AI Is Enabling Self-Learning Factories
The message was startling: “Porsche’s electric Taycan overtakes the classic 911.” That headline appeared in October 2021 in the German weekly Der Spiegel. At that time, Porsche had sold 28,640 Taycan models in a year—about 700 more than the flagship 911, which the carmaker has produced in quantities reaching millions over the course of six decades and eight generations of models.
Game-Changers: Harnessing The Power Of Alternative Data
This weekend Verstappen and Hamilton will battle head-to-head for the formula one World Championship. It’s going to be a battle on team strategy, car, and driver performance. A battle fuelled with smart big data strategies and zillions of data from sensors. Formula One is one of the most competitive and technology-intensive sports in the world. Data and analytics have become increasingly crucial for F1 teams because of how the sport has evolved over the years.
Exploring Opportunities Through Open Banking
Both consumers’ and small businesses’ expectations have evolved drastically when it comes to accessing financial services. The “traditional” banking model has been transformed to now using data as a catalyst for new products and business models. In this process of transformation, Open Banking, arguably, is one of the most critical levers towards the development and introduction of new approaches to financial services. To simplify, Open Banking refers to the ability to access customer data historically kept in-house by banks.
ESG Impacts On Financial Reporting
The changing environment in the economy has been a massive influence on the business and political world. In particular, constant change has had an impact on where companies and people choose to put their money. In recent years, there has been an increasing focus on environmental, social and governance (ESG) criteria when handling financial reporting. I have seen many changes in my years in tax and accounting all pointing to putting sustainability front and center.