BU415 - Tech Notes PDF

Describe each of the tech notes: 5G Wireless Networks Enables information to be shared and transferred faster than previous generations It offers lower latency and increased bandwidth, which can improve the overall performance. 3D Printing Technology that creates 3-dimensional objects Make...

Describe each of the tech notes: 5G Wireless Networks Enables information to be shared and transferred faster than previous generations It offers lower latency and increased bandwidth, which can improve the overall performance. 3D Printing Technology that creates 3-dimensional objects Makes objects by depositing materials in layers based on a digital model Augmented Reality Overlays interactive digital content such as sounds, images, or 3D models over a user’s environment in real-time using cameras, sensors and specialized software. Fintech and digital payments Any app, software, or technology allows individuals and organizations to manage and access financial transactions. Fintech companies use innovative technology to streamline financial operations and financial processes to improve the customer experience. Modern fintech is driven by AI, big data, block chain technology. Quantum Computing It uses quantum-level phenomena like superposition (qubits can represent 0, 1, or both simultaneously) and entanglement for problem-solving. Qubits allow quantum computers to evaluate all possible inputs simultaneously, unlike classical bits (0 or 1). More qubits exponentially increase processing power but are challenging to scale. Accessible through IBM Sustainable Technologies Vital for minimizing environmental impacts across various industries, emphasizing emission reductions, waste minimization, and resource conservation Focuses on selecting and managing technology to minimize environmental harm and both carbon and digital footprints Using energy-efficient hardware, transitioning to renewable energy sources, and leveraging cloud computing to reduce physical infrastructure needs Digital Twins Physical objects make their twin digitally Used to update real-world data to optimize performance remotely continuously Replicates the physical product's functions and gives researchers insight into how the product behaves Data Privacy Involves protecting sensitive information from unauthorized access, use, disclosure, modification or destruction Protected through technical, organizational and legal measures that ensures data security and confidentiality What are the challenges of each tech note: 5G Wireless Networks Challenge #1: There is a limited number of vendors that offer 5G integration services, so if an organization adapts to 5G networks, they could be locked into that vendor, making it costly and hard to switch. Challenge #2: Potential privacy and security concerns. Since 5G can have increased data flow, it can strain security monitors, which could cause privacy concerns. Challenge #3: 5G relies on fibre optic networks, if there is an error with fibre optic networks, then the performance of 5G could be hindered Challenge #4: Since 5G uses high-frequency radio waves, they are easily obstructed by physical objects like buildings, making 5G harder to use in dense areas. 3D Printing Challenge #1: There are material limitations as even though they are becoming more compatible, the materials still need to be improved compared to traditional manufacturing. Challenge #2: 3D printing needs to be more consistent as some machines have lower tolerances, which can lead to design inaccuracies. Challenge #3: It is very time-consuming to produce individual parts as they have to be made in small batches, so the speed is much slower and less efficient for large-batch productions Challenge #4: 3D printers can also be used to print weapons and materials that are illegal, which can be harmful to public safety concerns Augmented Reality Challenge #1: There are technological limitations as AR needs advanced hardware to use digital content in the real world accurately Challenge #2: Developing AR applications is complex and requires highly skilled developers to produce the virtual elements, making content creation difficult. Challenge #3: Compatibility is complex as AR applications need to be compatible across multiple platforms and devices, which can lead to standardized issues. Challenge #4: AR devices collect sensitive personal information, which is vulnerable to theft due to weak authentication, causing an easy target for unauthorized access. Fintech and digital payments Challenge #1: Scalability issues arise when transaction volume increases because blockchain networks struggle to process them efficiently, affecting the speed of payments and data transfers Challenge #2: The cost to implement the applications depends on the size and complexity of the app, although it is still very high in price as it can range from $40,000 to $300,0000. Challenge #3: Since the system is designed to obscure the source of the origin, laundered funds become untraceable, resulting in government regulatory concerns Challenge #4: Since the blockchain is very transparent, users around the world can view transactions taking place, which can result in privacy concerns Quantum Computing Challenge #1: Much detailed training is needed to adopt quantum computing due to its complexity, resulting in businesses hesitating to use it Challenge #2: Since it is such an emerging technology, it is costly to implement in organizations; as a result, it is unlikely for businesses to use it Challenge #3: If hackers were to use quantum technology, they could break it through encryption with little effort, and because of that, businesses may be concerned about using it. Challenge #4: if data breaches were to occur from a hacker, personal information, financial aspects, and other valuable information would be at risk of being breached. Sustainable Technologies Challenge #1: In order to implement this technology requires much upfront capital requirement, making it harder for individuals to attain and implement Challenge #2: Since many sustainable technologies utilize IoT-enabled devices to increase efficiency, it can pose a security threat, compromising the system security Challenge #3: Requires complex systems integration, which is challenging for large organizations with existing complex systems and those that lack an integrative perspective Digital Twins Challenge #1: Building an effective digital twin system involves investing in technology, skilled personnel, and real-time data infrastructure. Smaller organizations may find it expensive to access this technology. Challenge #2: Since digital twins are connected to real-world systems, making them a target for cyberattacks, if a breach happens, it could result in manipulated data, leading to harmful decisions Challenge #3: In health care, digital twins often use sensitive patient data so there are concerns about consent, data ownership and misuse of information as digital twins oft Data Privacy Challenge #1: Ensuring that organizations keep updating with monitoring and testing policies to ensure there is security What are the benefits of each tech note: 5G Wireless Networks Benefit #1: 5G networks have improved their ability to have low latency, more reliability and faster connection abilities, as well as enable less congestion Benefit #2: Supports automation technologies, allowing real-time data processing, increased operational efficiency, faster communication, and enhanced productivity. Benefit #3: Enables the integration of smart devices and IoT, which makes smart home technology more accessible and responsive, leading to faster connectivity for individuals. Benefit #4: 5G can be combined with AI and cloud computing, enabling better video streaming experiences. This can advance remote learning and make a rise in online universities. 3D Printing Benefit #1: Allows for product customization, which enables people to create unique specifications that better fulfil their intended purposes Benefit #2: Prices are declining for 3D printing services, which makes it more accessible to a large variety of consumers to help meet their needs in the comfort of their homes Benefit #3: Helpful for organizations in supply chain management. It can be integrated into production operations to help mitigate risks, enhance product design flexibility and reduce manufacturing costs. Benefit #4: Drives advancements in many public fields like healthcare and education. It can improve the sustainability of supply chains by lowering waste, energy usage, and space needed for production. Augmented Reality Benefit #1: Enhances visualization by overlaying complex data directly into the physical world, improving decision-making efficiency Benefit #2: Helps with training and operations as the processes can be faster, more accurate, and integrate real-time data into everyday workflows. Benefit #3: Promotes accessibility by enabling remote guidance, which allows experts to provide real-time support from any location Fintech and digital payments Benefit #1: It opens up many opportunities for individuals to access financial services like, banking services and investment opportunities. Benefit #2: Organizations benefit from cost-effectiveness and efficiency by illuminating the need for intermediaries. Benefit #3: Companies that utilize fintech use innovative technology to streamline financial operations and financial processes to improve the customer experience Benefit 4: Blockchain improves traceability and transparency in the supply chain industry, allowing businesses to monitor a product's lifespan Quantum Computing Benefit #1: This technology is precious due to its cost, complexity, inimitableness, and rarity, which provide a sustainable competitive advantage to other competitors. Benefit 2: impact on the cryptography world, enhanced AI learning, pattern recognition, and development of intricate products, such as chemicals and pharmaceutical Sustainable Technologies Benefit #1: Emphasizes reducing natural resource consumption and greenhouse emissions, leading to improved operational efficiency and sots savings, benefiting larger corporations by reducing expenses Benefit #2: Organizations can avoid environmental penalties from governments by implementing this technology while enhancing the organization's reputation to environmentally conscious consumers. Benefit #3: It can improve healthcare access in rural areas through ICT applications fostering inclusivity Benefit #4: Effective IS capabilities can enhance competitive positioning and support sustainable practices benefiting all stakeholders involved Digital Twins Benefit #1: Decision making and planning for the future are beneficial with digital twins, as they provide accurate virtual simulations Benefit #2: Organizations have been able to cut costs of transportation and labour by 10%, as well as being 20% more likely to deliver upon their promises Benefit #3: Scenarios such as medical conditions, natural disasters, and other events can be recreated; tumours can be replicated to provide valuable insights and inform future decisions. Benefit #4: Organizations can get a better understanding of how to serve markets by seeing digital twins interact with the organizations offerings Data Privacy Benefit #1: Can protect personal information by preventing unauthorized access and help reduce the risk of fraud and identify theft Benefit #2: Organizations can foster trust with employees and customers by having better privacy Benefit #3: It can help companies reduce the risk of data breaches, fraud, and cyberattacks, which also protects the organization’s data and reputation