Digital Manager Toolbox 2 : Blockchain and Smart Contracts

Blockchain Video credit to Centre for International Governance Innovation; Smart Contracts video credit to Smartbridge. ———————————————————————————————————————– Why Auto-OEM’s sudden interest in Blockchain? In 2017 Daimler AG reported their first use of blockchain technology to execute a financial transaction. Daimler and Landesbank Baden-Württemberg (LBBW) successfully launched a €100 million 1 year corporate loan placed privately. The entire transaction — from the origination, distribution, allocation and execution of the loan agreement to the confirmation of repayment and interest payments — was carried out digitally via blockchain technology in cooperation with the IT subsidiaries TSS (Daimler) and Targens (LBBW). The following year, in 2018, Daimler set up the Daimler Mobility Blockchain Factory. In 2019 Daimler announced a pilot to use the Daimler Truck Wallet to make payments with e-euros from Commerzbank through Commerzbank’s ‘Corda’ blockchain. Once the e-euros are used for payments, the recipient can request Commerzbank to convert the digital cash back to its bank account. Daimler believes it could end fuel-card scams forever. In 2018 BMW, Ford, Renault and GM became founder members of MOBI – the ‘Mobility Open Blockchain Initiative’ –  a consortium of carmakers, mobility, energy and infrastructure providers exploring uses of blockchain. BMW see the use of blockchain concepts such as ‘VerifyCar’ as a cure for vehicle history and mileage fraud. They also see it as a way of elbowing digital giants aside from total control of big data. But, attempts by individual car-makers to carve out a protected niche for themselves misses the impact of blockchain technology. Blockchain makes the existing business and financial system redundant. It has the potential to make existing methods of designing, building, buying and selling everything redundant. Not just financial instruments, shares and bonds but, when integrated with Expert Systems, it has the potential to be the secure repository of all forms […]

Read more

Digital Manager Toolbox 1: Artificial Intelligence and Machine Learning – AI and ML

Videos credits to Dr. Raj Ramesh, Top Sigma. —————————————————————————————————————————————————— Imagine, your having a conversation. You’re asked, “What’s your career plan?” Given all that we know about how jobs are changed by technology, that could be a tough question to answer. New inventions have displaced jobs since work began. In the 20th century tractors replaced horses. Not much new there. One job, walking behind horses, was replaced by another job, driving a tractor around a field. There was still plenty of work to be done. It just had to be completed in a different way. But today’s digital revolution may change jobs much more compared to the earlier disruptions driven by steam and oil. It’s not just that the pace is faster and the scope is wider. It’s that the new technology may eliminate much work altogether. It doesn’t matter whether you’re a senior manager or a sales consultant, a finance expert or a diagnostic technician: digital automation will likely affect your job. One obstacle to predicting how digital tools will effect individuals and their jobs is that they  develop so fast. A second is their unfamiliar technology: AI, Machine Learning, Blockchain, Edge Computing and so on. A third is that digital tools created for one industry are transplanted into another in ways that are difficult to foresee. By their nature, digital tools disrupt rather than develop. They facilitate fundamental change, not evolution.  

Read more

Covid-19: Turning Down into Up!

Managers around the world are grappling with the impacts of Covid-19. The outlook is uncertain in every industry, none more so than automotive, with its complex, globally integrated supply chains. And, while we can make plans for the disruption, its severity, length and geographical extent is dependent on factors outside of our control. The effectiveness of each country’s national health systems and each national population’s willingness to conform to emerging medical guidance will determine the business consequences that we all have to grapple with. This post summarises how individual operational managers can respond positively to their local situation, Here they can find resources to help them plan and advice on how they can seize opportunities to position themselves for the recovery phase of the Covid-19 pandemic.

Read more