The Boao Forum for the Asia Annual Conference 2019 was held in Boao, China on March 26th with over 2,000 delegates attending.
During the panel session on big data at the Boao Forum, Samsung SDS President & CEO Dr. WP Hong explained changes in the industrial field brought on by the latest information technology, sharing real cases. He also delivered his thoughts on artificial intelligence and social values.
Dr. Hong elaborated and presented examples of how newly emerged technologies, such as IoT, artificial intellgience, 5G and blockchain, enable companies to collect and analyse data in an unprecedented way, giving examples of Samsung SDS’ experiences.
He introduced the case of preventative maintenance in the manufacturing industry, which accurately predicts when equipment will fail by analyzing production equipment data with Samsung SDS' big data analysis and artificial intelligence technology.
In addition, he introduced a retail industry case that enhanced sales prediction accuracy by combining variables, such as data from social media and marketing promotion, with the information provided by point of sales. He also spoke on how blockchain technology enhanced efficiency in the supply chain industry, especially in reducing paperwork and in simplifying complex processess in the export-import business.
Regarding expectations and concerns over the future of artificial intelligence, Dr. Hong expressed his opinion that should technology be developed for the benefit of mankind and our society, it would greatly increase the quality of life of human beings.