Leadership requirements in the new era of Artificial Intelligence
Technology is changing the way we work, live, and interact with each other. The pace of technological change is much faster than it has been in the past. For example, it took 2.4 million years to control and use fire for cooking and only 66 years from the first powered flight to landing on the […]
Web 3 or Web 3.0
Web 3 or Web 3.0 is much talked about and is quickly taking traction in he technology and financial savvy groups, but what actually is Web 3. Let’s start from the beginning. The first version of the internet that was publicly available to use, the World Wide Web, is referred to as Web 1.0. Dating back […]
First, there was web1
First, there was web1 – as the story goes, was the era of decentralized, open protocols, in which most online activity involved navigating to individual static webpages. Web 2.0, which we’re living through now, is the era of centralization, in which a huge share of communication and commerce takes place on closed platforms owned by […]
Digital technologies are transforming…
Digital technologies are transforming economies, creating jobs, and improving lives. They have dramatically changed the way we live, work, communicate, business, health, education, finance, and much much more. Yet the digital divide remains stark and is becoming synonymous with a development divide. Billions of people around the world are still offline, and digital advancement has […]
Augmented Reality (AR)
Augmented Reality (AR) is the state-of-the-art technology that can help keep your business competitive, bridge the physical and digital worlds to better guide and train employees, solve problems faster, optimize efficiencies, improve productivity and collaboration, and better prepare for the future. But what actually is AR? AR is an enhanced, interactive version of a real-world […]
Global Financial Stability Report, April 2023
One critical thing that impacts each and every one of us is stability in the financial system, and any challenges in this, impacts economic development, investor confidence and overall quality of life. Financial stability risks have increased rapidly as the resilience of the global financial system has faced a number of tests. The failures of […]
Machine Learning Algorithms
Machine learning is a branch of artificial intelligence (AI) and advance analytics which focuses on the use of data and algorithms to imitate the way that humans learn, gradually improving its accuracy. Algorithms are the fundamental building blocks for machine learning models. From classification to regression, here are seven algorithms’ organizations need to know as they begin […]
Key Performance Indicator
Even though organizations spend millions of dollars on the similar initiatives, still too often they struggle to achieve the desired outcomes. While there are number of reasons, but one of the key one is that they don’t have the right Key performance Indicators (KPI’s) at the business case level and then at the operational level. […]
Digital twin technology is changing the way we interact, live and work
Amongst all the technologies, digital twin is one of the technologies that is quickly becoming part of our everyday life, but what really is digital twin. A digital twin is a virtual representation of a real-world object or system. These virtual models are used to digitally represent performance, identify inefficiencies, and design solutions to improve […]
Data Analytics Marathon
We’ve seen it used numerous times, from the cover of prominent publications to speeches by Fortune 500 CEOs and world leaders: “data is the new oil”. For data to create value and economic benefits for the organization, it must pass through various steps from data collection, cleansing, storage, governance, visualization, analysis, and the last and most important step decision […]
Subsidy Platform
A subsidy is a benefit given to an individual, business, or institution, usually by the government. It can be direct (such as cash payments) or indirect (such as tax breaks). The subsidy is typically given to remove some type of burden, and it is often considered to be in the overall interest of the public, given […]
Generative AI’s Evaluation
Everyday we are bombarded with various buzzwords and Generative artificial intelligence (AI) is one of those, but what actually is Generative AI? Generative AI is a type of artificial intelligence technology that can produce various types of content, including text, imagery, audio and synthetic data. Generative AI can learn from existing content to generate new, realistic […]
Selected Economies: Current Account Balance, 2020-23 (Percent of GDP)
International monetary fund (IMF) has recently published its external sector report on Global current account balances. Global current account balances (defined as the sum of absolute values of current account deficits and surpluses) increased for the third consecutive year in 2022 and are projected to narrow in 2023. This widening over the three years reflects […]
Risk is part of our everyday lives and each day we take a number of risks.
As a society or organization, we need to take risks to grow and develop. From energy to infrastructure, supply chains to airport security, hospitals to housing, effectively managed risks help societies and organizations sustainably grow and achieve objectives. In our fast-paced world, the risks we have to manage evolve quickly. Enterprise risk management (ERM) involves […]
Canada’s key interest rate remains at 5%
The Bank of Canada has decided to keep its benchmark interest rate steady at five per cent, the second straight time the central bank has done so and a sign it may be moving to the sidelines after raising the cost of borrowing 10 times since last year. The move was widely expected by economists and investors […]
The Journey To Generative AI
Generative AI is a buzz word that we hear anywhere we go, and has taken everyone by storm. But what really is Generative AI?. Generative AI can learn from existing artifacts to generate new, realistic artifacts that reflect the characteristics of the training data but don’t repeat it. It can produce a variety of novel […]
World bank has recently released its report “The business of the state”.
Businesses with state ownership account for a sizeable share of economic activity. Almost 70 percent of these businesses are operating in industries where the private sector is better suited to deliver more efficiently. The report, The Business of the State, examines 76,000 companies in 91 countries with more than 10 percent government ownership. It shows that the […]
Artificial Intelligence (AI) is making its mark in almost all sectors.
In the health sector, FDA has granted a de novo clearance to an artificial intelligence program capable of reading a standard brain MRI scan and predicting a patient’s chances of progressing from mild cognitive impairment and early memory loss to Alzheimer’s disease and dementia within five years. Described as a virtual microscope, the BrainSee prognostic […]
While majority of the industries are implementing use cases of Artificial Intelligence (AI)
Local Governments also have an opportunity to benefit from this advanced technology. AI deals with the simulation of intelligent behavior in computers; the capability of a machine to imitate intelligent human behavior. It refers to systems capable of performing tasks that historically required human intelligence. These tasks include recognizing speech, making decisions, and identifying patterns. […]
In today’s fast-paced life, TECHNOLOGY has taken the reins of the world and emerged rapidly.
Every year, MIT looks at the promising technologies poised to have a real impact on the world. Here are the advances that MIT thinks matter most right now. 1) AI for everything: We now live in the age of AI. Hundreds of millions of people have interacted directly with generative tools like ChatGPT that produce […]
AI is changing the way we work, entertain, live, and connect.
Several organizations have started their journey toward developing their ML models. The journey can be challenging but to make it easy @Deepak Bhardwaj has outlined the following steps with a structured approach towards the development of AI models. 🔘 𝐃𝐚𝐭𝐚 𝐈𝐧𝐠𝐞𝐬𝐭𝐢𝐨𝐧: Collect data from various sources. 🔘 𝐃𝐚𝐭𝐚 𝐏𝐫𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧: Preparing data for analysis. ↳ Validate: […]
To create value, organizations need to have strategic alignment all the way from Vision to key initiatives.
The alignment or the strategic pyramid can be divided into three layers i.e purpose, strategy, and execution. Each layer is critical and has a set of activities.Wendy McGuiness (2011) has articulated the concept in 9 key pillars of successful strategy and its execution and the details are. A) Purpose: 1. Vision: Paints a clear picture […]
World Economic Outlook Growth Projections
IMF has recently published the real GDP growth for global economies for 2024-2025.According to the forecast Global GDP is projected to grow by 3.2% in 2024 and by 3.3% in 2025.Advance economies are projected to grow by 1.7% in 2024 with U.S taking the lead at 2.6%. Some of the other major economies like the […]
Globally there have been great concerns on the use of Artificial Intelligence and its Governance structure.
Effective 1st August, the European Commission has implemented the world’s first comprehensive regulation on artificial intelligence which is referred to as the “European Artificial Intelligence Act (AI Act)”.The AI Act is designed to ensure that AI developed and used in the EU is trustworthy, with safeguards to protect people’s fundamental rights. The regulation aims to […]
Do We Need Alternate Financial Systems, And Are Cryptocurrencies And Blockchain Technologies The Answer?
BackgroundThe origins of currency can be tracked back to 5,000 years when the Mesopotamian people created the shekel, which is considered to be the first known currency. Before this, people used the bartering system to trade for goods and services. Gold and silver coins date back to around 650 to 600 B.C. when stamped coins […]
Global Airline Seat Capacity Trends Issue #6: June 2022
The start of 2022 has been quite strong for the global aviation industry, even though there are still challenges and further recovery needed. Q1 has shown very positive year-over-year growth, with seat capacity at 1.01 billion for the quarter, an increase of 43% over the same period last year. Although it was still short 344 […]
Data Management is Essential to Organizational Success: An overview of its components
Data is one of the most valuable assets a business can have and has a tremendous impact on its long-term success. We have all heard the phrase that data is the new oil, speaking to the value it possesses. But to leverage this great resource an organization needs to ensure that there is a full-fledged […]
Global Airline Seat Capacity Trends Issue #5: January 2022
Many of us are entering 2022 with a sense of cautious optimism, and while there are still some challenges, let’s hope that this year will bring joy, happiness, and global economic recovery, followed closely by the recovery of the aviation industry. As this is the first issue for 2022, lets first start with some insights […]
Two critical issues facing aviation recovery
While there has been positive news of the aviation industry’s recovery as economies and borders were in the process of reopening, there are two critical imminent issues that pose a risk to its recovery. The first and foremost is the spread of Omicron COVID-19 variant. New travel restrictions prompted by the variant’s rapid spread have […]
Global Airline Seat Capacity Trends Issue #4: November 2021
This article is in continuation of my previous insights into global seat capacity. Past issues can be found posted on my LinkedIn profile. The fourth wave of the COVID-19 pandemic continues to impact the aviation industry, and several regions remain under various lockdowns or restrictions. Therefore, I thought it would be interesting to look at […]
Airport Competitive Index – A barometer of airport success and competitiveness
There is a perception that airports are merely a facility that is made of terminal buildings, runways, taxiways, some stores, food & beverage outlets, and some service-related entities. But forward-looking airports, which have aggressive growth rates, compete with other airports just like any other industry. As in any competitive market, evaluation is important. When I […]
Global Airline Seat Capacity Trends Issue #3: October 2021
This article is in continuation of my previous insights into global seat capacity. Past issues can be found posted on my LinkedIn profile. As the global aviation situation is so volatile, I thought it would be interesting to look at how the seat capacity is trending and see the monthly adjustments that are being made […]
Global Airline Seat Capacity Trends – Issue #2: September 2021
In August, I released an article that reviewed trends in airline seat capacity over the summer. Since then, I noticed significant changes to the projected data, and I decided it would be a good idea to revisit this subject on a monthly basis going forward. Within this edition, we will review how global seat capacity […]
Sustainable growth in the aviation industry needs data-driven decision-making
The COVID-19 virus has spread worldwide without acknowledging borders. It has impacted all industries, all sectors, and all aspects of our lives with devastating blows to economies, financial losses, and significant uncertainties. Aviation has been one of the hardest hit industries. International air traffic had reduced by more than 60% in 2020 as compared to […]
2021 breathes life into global economy recovery
The COVID-19 viral pandemic continues to have unprecedented globally shared phenomena with wide-ranging repercussions. The pandemic has disrupted lives across all countries and communities and negatively affected global economic growth in 2020 beyond anything experienced in nearly a century. High-level estimates show that the global economy during 2020 reduced to an annualized rate of -3.4% […]
Global Seat Capacity Trending Upwards in 2021
We all know that aviation has been one of the hardest hit industries due to COVID-19. Total passenger traffic declined by more than 60% during 2020, devastating airlines, airports, and all aviation-related organizations. But as restrictions are being lifted in many parts of the world and economies opening back up, there is cautious optimism that […]
Data Strategies in Aviation: Driving Economic Value
We have all heard the phrase that data is the new oil, but to leverage this great resource we need to ensure that there is a full-fledged strategy in place to take advantage of its benefits, and that’s where a data strategy comes in. COVID-19 has had a significant impact on global passenger traffic and […]
The Art and Science of Data Mining in the Aviation Industry
What is Data Mining? In general terms, “Mining” is the process of extracting some valuable material from the earth, such as coal mining, diamond mining etc. In the context of analytics, “Data Mining” refers to the extraction of useful information from a bulk of data sources or data warehouses. One can see that the term […]
The Fourth Industrial Revolution and Aviation 4.0
The Fourth Industrial Revolution represents a fundamental change in the way we live, work and relate to one another. It is a new chapter in human development, enabled by extraordinary technology advances commensurate with those of the first, second and third industrial revolutions. These advances are merging the physical, digital and biological worlds in ways […]
Aviation’s Greatest Need: Critical Thinkers
Looking at the list of the top 100 global brands for 2019 compiled by The Financial Times, you see the list dominated by technology, retail, fast food, apparel, luxury, alcohol, financial institutions, apparel, personal care, etc. But it’s surprising to see that one key industry that touches everyone’s life is missing, and that is the […]
Innovating Aviation Analytics with Design Thinking
Over recent decades, it has become crucial to develop and refine skills that allow us to understand and act on rapid changes in our environment. The world has become increasingly interconnected and complex, with increased expectations and a lot of unknowns. Design thinking offers a means to grapple with all this change in a human-centric […]
Five Defining Factors for the Aviation Industry’s Recovery from COVID-19
Some of us who witnessed 9/11 or the 2008 economic downturn have had almost a decade to forget the traumatic effect a sudden, global recession can have on a company. In a rapidly evolving situation like we’re facing with COVID-19, it becomes very challenging to balance what’s best for your company, protect your employees, and […]
Dissecting the Business Models of the Aviation Industry
Introduction and Definitions Organizations’ successes and failures can traditionally be attributed to any of the following: not adopting technology, inefficiencies, high costs, not being innovative, econometric impacts, and the list goes on and on. No one realizes that these are just elements of a mosaic, and for a business to effectively compete and grow, the […]
Air Transportation Value Chain
The environment and industry in which any firm operates is a crucial element in determining the market’s attractiveness in terms of present and future demand, ease of doing business, as well as the level of competition. In this sense, it is the environment and industry in which the firm operates that will in turn influence […]
Analytics – The Path to Airport Transformation
Aviation is a highly competitive industry, and with lower margins then other industries, airports need to ensure that they have a competitive niche and are transforming their businesses to keep up with changing tides. Approximately 70% of the world’s airports lose money, which clearly highlights the need for the effective and efficient use of data […]
A Brief Intro to Airport Strategic Planning
We are living in an era of disruption in which new business models are changing the way value is created and delivered. The Aviation industry, and Airports, are not immune to disruption and to be at the leading edge of the curve must consider non-traditional approaches toward Air Service Development, non-aeronautical sources of revenue and […]
Intro to Blockchain technology and its application in the Aviation Industry
We all love new ideas, new business models, buzz words and new technologies and one that is getting a lot of attention is Blockchain technology. The intent of this article is to briefly describe what Blockchain is, dive in to how it works and touch on its potential use cases in Aviation. Blockchain can be […]
A Tribute to Herb Kelleher: Aviation’s most notable Innovator and Disrupter
In January 2019, the world lost a great innovator. Herb Kelleher was a pioneer who totally reshaped the aviation industry. His vision revolutionized commercial aviation, democratized the skies and got me interested to study his leadership profile and share it with readers. He was an influence on my own leadership style, and he has much […]
WHITE PAPER “BLOCKCHAIN APPLICATION IN BEEF SUPPLY CHAIN”
INTRODUCTION Beef is one of the biggest meat products consumed globally, and the world consumed 129.5 billion pounds of beef in 2016. Managing these kind of consumption volumes requires collaboration between Cattle farmers, slaughtering and meat processing plants, transportation and logistics, freight forwarders, veterinary physicians, insurance companies, airport handling, and regulatory agencies. As health awareness […]