Rupa & Company to focus on AI and ML powered Chatsbots and RPA
By MYBRANDBOOK
Arijit Dasgupta
Head-IT
Rupa & Company
We have planned to incorporate a few items in our technology assessment bucket this year like AI and ML (Artificial Intelligence and Machine Learning) powered Chatbots, RPA etc. to boost the areas like Employee Onboarding, Customer Engagement, Demand Forecasting.
These areas will definitely enhance productivity along with minimizing the working capital and business lead time.
CYBER SECURITY
The IoT (Internet of Things) is actually appearing hugely every day. It includes laptops and tablets, routers, webcams, household appliances, smart watches, medical devices, manufacturing equipment, automobiles and even home security systems.
Connected devices are easy to operate widely nowadays to save money by collecting immense amounts of insightful data and streamlining business processes. More connected devices means greater risk which is making IoT networks more vulnerable to cyber invasions and infections. Once controlled and manipulated by hackers, these devices can be used to generate havoc overloaded networks or lock down the essential equipment for unethical gain.
R&D
In every case, technology deployment is required for industrial purposes which is available in this era. Before embarking on the expensive and risky process of expediting its own R&D, a company can perform rather a “make or buy” analysis to justify an R&D project in-house. Factors that influence the decision include the ability to protect the innovation considering time, cost and risk.
If developed technology can be safeguarded as proprietary and protected by patents, trade secrets, nondisclosure agreements, etc. — the technology becomes exclusive property of the company and its value is much higher. It sees the fitment, usually to maximize sales and profits, product quality etc. In this case, every high-level of R&D effort is justified for a relatively long period with an acceptable risk of failure.
On the contrary, if the technology cannot be protected, as is the case with certain software programs, expensive in-house R&D is not justified since the outcome of R&D may be replicated among the competitors or “stolen” by a disloyal employee. Inherently, technology development is always riskier than technology acquisition because the technical success of R&D cannot be guaranteed. On the other hand, if the market is growing very fast and competitors are rushing in, the opportunity window may close before the technology has been developed in-house. In this case, it is better to acquire the technology and related know-how, in order to enter the market before it is too late. Finally it varies, depending upon the projects influenced by its objective.
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