Cloud technology and connectivity
The Internet of Things (IoT) has already made connectivity a major part of modern life.
Combined with stronger computing power, IoT will continue to change:
- Supply chains
- Manufacturing
- Everyday home experiences
Artificial intelligence has also advanced quickly. Better computing power and access to large amounts of data have helped drive this progress.
Today, AI is used for many purposes. These range from discovering new medicines to predicting consumer interests and behavior.
In 2012, Capital One began its journey to become “a technology company that does banking instead of a bank that just uses technology,” as CEO Richard Fairbank explained.
To achieve this goal, Capital One:
- Invested in skilled developers and engineers
- Adopted agile software development practices
- Expanded its use of open-source technologies
- Fully embraced cloud computing
By 2020, Capital One had closed its physical data centers. It moved its applications and systems to Amazon Web Services.
This cloud-first approach allowed Capital One to spend less time managing infrastructure. The company could then invest more in customer-focused innovation.
Capital One also uses machine learning to analyze data and generate insights. This helps the company improve its services and customer experience.
Some technologies driving connectivity and cloud adoption during the Fourth Industrial Revolution (4IR) include:
- Blockchain
- Computational power
- Internet of Things (IoT)
- Sensors
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Human machine-interaction and machine learning
Waiting at home for a pizza delivery that never arrives is frustrating.
It is even worse when the order finally arrives cold.
Domino’s recognized this problem and used technology to improve its operations and customer experience.
After its stock price declined in 2008, Domino’s launched a major transformation strategy.
The strategy focused on:
- Improving its menu
- Strengthening its technology capabilities
- Increasing operational efficiency
The company introduced Domino’s Tracker. This allowed customers to follow the progress of their order online.
At the time, this was a major innovation.
Today, Domino’s AnyWare technology allows customers to place orders in 11 different ways across multiple devices.
Customers can still order through the website or by phone. They now also have many more digital options.
By combining artificial intelligence and machine learning, Domino’s has improved product quality and its digital ordering experience.
Technologies such as autonomous vehicles, drones, and AnyWare help the company serve customers who expect:
- Faster service
- Easier ordering
- More convenience
Examples of emerging technologies using human-machine interaction and machine learning as part of the Fourth Industrial Revolution include:
- Virtual and augmented reality
- Robotics and autonomous vehicles
- Chatbots
- Analytics and intelligence
Walmart is another example of a company using several technologies to transform its business.
The retail giant wants to make shopping faster and easier while competing with companies such as Amazon.
Walmart has built strategic partnerships to support its digital transformation.
The company uses Microsoft’s technology to expand its:
- Artificial intelligence capabilities
- Machine learning
- Data analytics
It has also partnered with Google to offer voice-enabled shopping experiences.
Walmart continues to digitize every part of its business, including:
- Supply chain operations
- Sales
- Customer service
- Marketing
By combining online, mobile, and in-store experiences, Walmart aims to improve efficiency. It also wants to give customers a more convenient shopping journey.
Some emerging technologies using analytics and intelligence during the Fourth Industrial Revolution (4IR) include:
- Automation of knowledge work
- Big data
- Advanced analytics
- Artificial intelligence (AI)
The Fourth Industrial Revolution becomes easier to understand when we see how these technologies work together.
Companies that successfully scale and combine these innovations can create long-term value.
However, adopting and expanding 4IR technologies is not simple.
It requires:
- Time
- Resources
- Skilled talent
- Clear planning
Companies that create a clear strategy and implementation roadmap can begin their Industry 4.0 transformation.
They can also build a stronger foundation for future growth.
About the Company:
Peterson Technology Partners (PTP) has partnered with some of the biggest Fortune brands to deliver excellent service and best-in-class team building for the last 25 years.
PTP’s diverse and global team includes recruiting, consulting, and project development experts. They specialize in a range of IT competencies, including:
- Cybersecurity
- DevOps
- Cloud Computing
- Data Science
- AI/ML
- Salesforce Optimization
- VR/AR
Peterson Technology Partners is an equal opportunities employer.
As an industry leader in IT consulting and recruitment, specializing in diversity hiring, we aim to help our clients build equitable workplaces.
