29 April 2019
AI Solutions for the Palm Oil Industry
The IT space is regarded as to be in the forefront of innovative thinking alongside with other innovative technologies. Fusionex Founder and group CEO Dato’ Seri Ivan Teh shared his insights on AI during his sharing session at The Oils and Fats International Congress, organized by the Malaysian Oil Scientists and Technologists Association (MOSTA).
I am happy to be not giving a lecture but more of a sharing session with you and in an interactive session along the way. Today I would like to share our experience and in what we plan for IR4.0 and the IT technology space in an interactive way and in a friendly fashion. I hope to share some of our insights knowing that all of you are experts in your respective domains in Industry 3.0 at this point of time.
Well, very quickly, Fusionex is an award-winning organization and one of the very few organisations where you can see our presence in Hong Kong, Singapore, Japan and even United States. But we are very much a Malaysian company spanning 15 countries, across United States, across Europe and across Asia-Pacific, as a company with merchandise value transacted at RM11.6bil which is quite a sizeable value. We are one of the key companies featured by Gartner, Bloomberg. Frost & Sullivan, Forbes, Edison, Huntington Post and of course New Straits Times, Star and so forth.
Here are some of our snapshots and some of our clients: we have over 4,100 clients with 3,600 clients in mid-sized companies, a lot of big data with a lot of 4.0 banks and insurance companies, plantation companies, factories and of course manufacturers and so on and so forth.
Now, just a point to give you a perspective of how fast things are moving. In 1969 the supercomputer with a programme of 6 megabytes allowed the man to land on the moon. Today your 4G smart phone with about 256 gigabytes can do much, much more than that huge supercomputer which was the state-of-art at that time.
Similarly, data has seen exponential growth. Previously it was kilobytes, megabytes, and gigabytes and presently our devices are handling terabytes (1×1012 bytes). In future the increase will be to petabyte (1×1015 bytes), exabyte, zettabyte, yottabyte (1×1024 bytes), xenottabyte, shilenobyte, and domengemegrottebyte (1×103 bytes). What comes next may be the end of the world?
If one were to consider the physical populations of the world, it would be China, India, Indonesia or US, etc. In IT perspective as of 2016, the order is China, India, Facebook, TenCent, Alibaba, and US (at 6th position), then Google and Indonesia (8th); this is the new world order in terms of marketing, connectivity and communications. The order in 2018 will have Google as number 1.
“Information is the oil of the 21st century. Analytics is the combustion engine” — Gartner
Current Landscape The current landscape may be illustrated in Fig 1. The amount of digital data in the universe is growing at an exponential rate, doubling every two years, and changing how we live, play and work in the world. Big Data has changed the world forever. We have close to 8.4 billion connected devices today. By 2021, we would have exceeded 30 billion connected devices to computers and hand-phones.
But how fast is data growing and how have things changed? Fig. 2 shows the number of years of technology devices to reach 50 million uses beginning with the humble radio and ending with Facebook. The rate at which we’re generating data is rapidly outpacing our capability to analyzing them. The main challenge here is to turn these massive data streams from a liability into an asset (from a weakness to a strength).
Read the full article at https://www.fusionexnews.com/wp-content/uploads/2019/05/190429-MOST-Vol27.No22018-1.pdf
To learn more about Fusionex AI Solution: https://www.fusionexgroup.com/products/artificial-intelligence/