Data Driven: Banks Tap Machine Learning while IoT Helps Haul Freight and Keep Workers Safe
The rubber hits the road when these smart solutions enable the monitoring of assets and their surroundings, which significantly improves operational efficiency. This is a huge opportunity for companies to improve their operations and services.
In this episode of "Data Driven", we hear how financial institutions are innovating, and see how industrial companies are using precise and timely data to enhance asset utilization and streamline operations, in addition to keeping workers safe.
In our lead story, Emirates NBD, a leading bank in the Middle East, has set an ambitious goal of transforming how they serve retail banking customers and building a bank of the future.
"Our vision is to be the Middle East's most innovative financial services organization"
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For part of that journey, the bank is collaborating with AWS to "create a culture of innovation" and leverage ML services to build a personalized retail customer banking experience. Emirates NBD will also utilize data analytics, IoT, Natural Language Processing, and other advanced technologies as part of its ongoing efforts to better engage with customers and simplify banking.
Specifically, Emirates NBD plans to deploy a personal finance manager that uses an automated, self-learning system to deliver a "highly personalized banking experience" to customers in order to predict what each individual customer needs and match this with the most appropriate solution.
The system also utilizes Natural Language Processing technology so customers can interact with call center automation in a more natural way. To support this work, Emirates NBD is using Amazon Polly, a cloud service that uses advanced deep learning technologies to convert written content into human-like speech, in its automated call center to further enhance customer interactions by delivering lifelike voice banking experiences.
As part of Emirates NBD's journey with AWS, it is also exploring how to better serve customers at bank branches with convenient and secure authentication, leveraging AWS's image recognition and IoT solutions.
Meanwhile, Traxens, a company that provides data services to the supply chain industry, announces today that its cargo tracking IoT system will be used on CFL Multimodal's connected freight wagons throughout the European corridor and the New Silk Road to China.
Traxens and CFL started their co-operation with a pilot project at the end of 2018, when CFL fitted Traxens Box devices on flat wagons traveling between European destinations. As this initial trial was successful, it was extended earlier this year to over 20 wagons delivering cargo to more distant European destinations. In April, Traxens' rail freight telematics technology was then tested on wagons travelling to China.
As part of it digitalization strategy, CFL aims to streamline train preparation operations through automation, including digital brake testing.
In other news, ProcessMAP and IBM continue to develop cutting-edge solutions that monitor workers in hazardous environments like construction sites, manufacturing floors, and outdoor rugged environments.
But new research is looking at solutions that integrate the capabilities of IoT with worker health and safety. In other words, real-time actionable analytics based on biometric and environmental data collected from smart devices. The companies hope these solutions will help organizations quickly respond to safety hazards and changing environmental conditions to proactively prevent accidents from occurring.
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Meanwhile, the global vehicle tracking systems market is expected to reach $13.4 billion by 2024 driven primarily by the expansion of goods and passenger transportation services. "Vehicle fleet operators want to track their vehicles to obtain accurate vehicle data, location, performance, and driver behavior" reports Research and Markets dot com. "Accelerated road freight transportation services are fueling global demand for vehicle tracking systems."
Plus, the expansion of the global passenger transportation industry, attributed to the growing presence of ride-hailing companies, vehicle rental companies, and the increasing adoption of app-based transportation services are fueling global demand for vehicle tracking systems.
"Data Driven" is produced by TVP, and sponsored by RestonLogic, cloud wizards leveraging over 10 years experience helping companies automate, transform and build highly-secure and stable systems. RestonLogic offers a complete suite of IT solutions from strategic advisory to managed services. Book a strategy session today!
Disclaimer: The blurbs highlighted on "Data Driven" are available for information purposes only, and don't necessarily reflect opinions of our editors.
Page Updated Last on: Jun 30, 2019