Digital Transformation, Stemexe | read
Data ownership is a widely overlooked topic that can have a massive impact on your organization.
Here below, you learn why you need to be concerned about who owns your data and applications and how to manage this the right way.
Let’s dive right in.
Your most valuable asset? Data!
The period we’re living right now is known as the digital era.
So it makes sense that today, our most valuable asset is data. The data that we gather today and that has been collected over decades sets a precedent for determining the success of our future.
And here’s the deal:
The person who owns the data has ALL the power.
That’s something you should be concerned about.
Why? Let’s take a look at an example of what can happen if you don’t manage your data ownership in the best way possible.
Why you need to be careful with your data ownership
Want to know how a friend of mine lost his company in one day, a company he had spent years building and investing in?
Let’s take a few steps back.
A couple of years ago, a friend of mine opened his own company. Initially, he was driven by a vision. He was full of motivation, dedication, and ambition.
He fully invested himself with all his efforts into establishing a successful company.
As the years went by, his team grew exponentially. Profit was booming as they increased by double digits every year.
He was the sole owner. His business card said “OWNER” in bold, prominent lettering.
At one point, I asked him the reasoning behind his title. He replied, “I worked hard to build my company, my name is on the company registration, and as per the authority, I am the rightful owner.”
As the company grew, my friend utilized technology to digitalize his company. He also invested a large sum of money into building the company’s digital market. All in all, he created the perfect company foundation on his own.
A few years later, I had a run-in with him. He looked nothing like the successful friend I knew.
He looked shocked, angry, and incredibly upset.
I grew concerned. Perhaps he had lost someone close to him? So I cautiously approached him and said, “I hope things are well with you. Is everything alright?”
My friend looked at me and said, “I have lost everything I built in just a few clicks. I don’t know how I never noticed this before. I am not sure why I spent the time protecting my ownership in assets like chairs, tables, offices, and failed to realize the real assets.
My company’s digital data was the foundation of everything, and it was the most valuable asset I had. It seems my technical admin and the team member who had the marketing site accounts are the actual owners. Not me, I am not the owner. I have tried every possible route to get my digital presence and data returned to me, but officially, they own it.”
I felt just as shocked as he looked.
Why do company owners protect their physical assets… But not their data?
Currently, the information belongs to the company, making it their asset.
However, all the owners are busy maintaining their company registration to manage their physical assets. Due to the more substantial physical assets, many company owners overlook the ownership of their applications and data.
Applications are the doorway to all sorts of data. They are vital in any organization for the organization to operate. Adding in digital marketing and social media accounts, these applications are the most valuable assets of the company.
Currently, your employees might own all your social media accounts unless you have a formal agreement in place beforehand. You should have measures in place to help you (as the owner) retain rights to your applications, regardless of who creates them. After an employee leaves, you have full power and access to the apps this employee created during his or her time at your organization.
The easiest way to make this happen?
Have smart contracts in place.
Here’s how our application, iDenedi, helps you effectively set up and manage those contracts.
How to protect your data ownership with one application
The best way to protect the ownership of your data?
Use an application that lets you manage it all in one place.
Our application, iDenedi, helps you do that by letting you register your ownership and protect your right to your data.
The way it works is that you have smart contracts in place in iDenedi. And those contracts will specify the ownership of your data. So the application recognizes if it’s you, the owner, or an employee that logs in.
With this application, you can be sure that your data is protected at all times. You retain ownership of any applications designed by your employees - and never have to face a similar situation as my friend did.
Get started with protecting your data today
Now you know why it’s so important to protect your data ownership.
So what are the next steps you can take to ensure you’re not risking your most valuable asset?
Create those contract. And work with a trusted expert to set up your applications.
Now I’d love to know:
Have you protected your data ownership?
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Originally published Jan 29, 2019 9:10:24 AM, updated December 4, 2019
Topics: Digital Transformation Stemexe
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The Enterprise Digital Canvas is a comprehensive and structured blueprint of your Digital Enterprise. This article summarises learnings from effective Digital Workspace design for COVID-19 response, using the Digital Canvas model.
See how it works here:
Architecture Is The Foundation Digital Workspace
A successful workspace for recovery and growth requires you to have a 360-view of your operating capabilities. This is only possible by effectively leveraging The Digital Canvas (World’s leading framework for Digital Design).
For more information, visit our Partner Arqitek.
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We live in a time that is characterised by a major technology takeover, a time experiencing the 4th industrial revolution. Companies that want to survive and evolve must keep track of technology breakthroughs, because as we’ve come to know, technology can make or break a company’s success.
In light of that, it is imperative to always look forward in anticipation and not just wait for a trend to start “trending”. We have created a list of what we speculate to be the major technology trends of 2020 that everyone should keep an eye out for.
No matter how much technology advances, it is agreed that no single tool can replace humans. Most organisations out there are already familiar with automation, which involves automating simple tasks that require processes with predefined rules and structured data. The idea of HyperAutomation, on the other hand, involves a combination of tools that together result in the creation of an organisation’s digital twin, which allows for the automation of more complex work.
According to Gartner, combining robotic process automation, intelligent business management software, and AI enables organisations to visualise how functions, processes, and key performance indicators interact to drive value.
Allowing this digital twin to become an integral part of the HyperAutomation process as it provides real-time continuous intelligence about the organisation will enable more informed decision making. Successful automation involves several key factors: discover, analyse, design, automate, measure, monitor, & reassess.
An example of a tool that is designed based on these factors would be Exceed’s ESP.
While Blockchain was first developed back in 1991, it came to life with the introduction of Bitcoin in 2009. The idea of bitcoin mimics printed currency in the transactional sense, but instead of being regulated by a central bank or government, bitcoin is regulated by a network of computers. Blockchain is the protocol on which bitcoin is built.
In the simplest terms, Investopedia defines Blockchain as “a distributed, decentralised, public ledger”, which translates to digital information (blocks) that are stored in a public database (chain). While blockchain is beneficial in peer to peer transactions and small-scope projects, it remains immature for enterprise deployments due to technical issues.
However, market speculations anticipate it to be fully scalable by 2023. According to research conducted by Gartner, “true blockchain will have the potential to transform industries, and eventually the economy, as complementary technologies such as AI begin to integrate alongside blockchain.”
Can Machines Think?
AI involves designing “human-like” machines that are able to perform tasks requiring intelligence. Machines are built to mimic processes and tasks that involve recognition of images, speech, or patterns & decision making. Those processes include acquiring information and rules, using those rules to reach conclusions, & self-correction.
Unlike traditional coding, the computer creates instructions for itself using machine learning algorithms rather than having humans write those instructions. To demonstrate the effect of AI, take google translate for an example.
When it first went live, google translate used to have more than a million lines of code (human-created instructions). Currently, google translate has 500 lines of code due to machine learning. However, while it is expected to overtake every industry, one must understand its limitations.
Knowledge in AI comes from data, and for the machine to be accurate, it must read from accurate data. While businesses have been understanding what AI can and can't achieve for the past few years, it expected that the future points towards a time where machines are appointed not only all of the physical work, as they have done since the industrial revolution, but also the mental work involving planning, strategising, and making decisions.
Sources:
https://www.investopedia.com/terms/b/blockchain.asp
https://www.gartner.com/smarterwithgartner/gartner-top-10-strategic-technology-trends-for-2020/
https://www.simplilearn.com/top-technology-trends-and-jobs-article
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You see the end product but we’re bringing you closer to the people behind it !
Among our recent partnerships, we joined forces with Ubility.
To bring the service provider closer to YOU, we sat down with their CEO Khaled Dassouki, to gain firsthand insight on the things they do and the types of human capital profiles that drive their success.
Khaled is a Lebanese national with an engineering background and PhD in Artificial Intelligence & Security obtained at Université de Technologie de Troyes, France.
As a result of over 20 years in the field, Khaled decided to establish Ubility in France and build it on a base of Artificial Intelligence in Customer Experience, which was considered to be highly innovative as it was a niche field.
Khaled was quick to notice that there had been a shift in the way business was carried out, the shift had been made to be more customer-focused. With that came new challenges, the ease with which customers can connect with the business led to a huge influx of queries and requests for support, which was very time consuming, tedious, and required businesses to grow their customer support teams leading to higher costs.
While growing their teams did solve some challenges momentarily, organisations were quick to realise that the complexity and average time required to resolve customer challenges was growing which eventually led to dissatisfied customers. Not only that, customer service agents were quickly burning out as they were answering an ever-growing list of routine questions rather than helping solve complex problems and offering innovative solutions.
Taking all that into account, Ubility offered an AI-powered platform that learns from interactions between an organisation’s customers & their customer care team to enable quick suggestions of appropriate solutions that could solve a customer’s challenge in seconds rather than minutes.
In addition to that, Ubility also offers AI training for professionals in the IT industry, a sales chatbot that is based on a recommender system and knows the sales cycle, and AI Consultancy in which they are recruited to build and implement AI services in response to an assessment of an organisation’s processes.
Success Story
Ubility was commissioned by a Telecom operator in the gulf to assess and analyse their IT processes. After a thorough analysis done by their team of experts, it was concluded that a huge portion of their IT processes had an opportunity for automation.
After studying the best ways in which they could automate their processes, they determined that incorporating AI would allow the elimination of a manual process by looking at historical data. Instead of their operational costs raking up to 50,000 USD a month, they were now cut by 80% to be only 10,000 USD.
Intrigued and want to learn more?
The Enterprise Digital Canvas is a comprehensive and structured blueprint of your Digital Enterprise. This article summarises learnings from effective Digital Workspace design for COVID-19 response, using the Digital Canvas model.
See how it works here:
We live in a time that is characterised by a major technology takeover, a time experiencing the 4th industrial revolution. Companies that want to survive and evolve must keep track of technology breakthroughs, because as we’ve come to know, technology can make or break a company’s success.
You see the end product but we’re bringing you closer to the people behind it !