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SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

How Robots are Still Behind Us

In today’s world, where technology is playing an important role, most of us fear about future. It has been noticed how robots have already stated taking place of humans resulting in humans to lose their jobs. Not only in factories but robots have also taken over sports, medicine and more. However, we humans do have some skills that is tough for robots to beat us in. Below are few of them:

  1. Creativity: A piece of art, music, a new recipe and more reflects our creativity. Thus, even though robots can replicate what already exist, it still fails to create something new.
  2. Physical Skills: There are some routine jobs which needs to be done quickly and involve out flexible physical skills. Though robots are developing yet they haven’t reached the stage where they could help us in doing our routines.
  3. Empathy: Now a days, robots can successfully analyse our emotions but a small change of ton still confuses the program. That empathy, caring nature is still missing.
  4. Flexibility: Few decisions are needed to be made from our gut feeling. However, robots miss that. They are only able to make decisions from the data that they have read.
  5. Technical Maintenance: Robots are still machines. They require planning, designing, implementation and management. These skills can only be provided by humans. Maintenance can only be done by humans. 

In the end, even though robots can take over few of our jobs, still they will always work under us rather than against us. 

Read more at https://www.techworm.net/2018/08/jobs-robots-will-take-from-humans.html

 

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Future of Market Research

 

According to McKinsey reports the research & consulting industry is at the bottom of the list in comparison with other industries when it comes to economic mobility. Previously it took well over a decade for companies to realize that they no longer needed to build their factories near water, still considering water to be their prime source of power but now such similar slow response cannot be afforded with the speed of environmental change being far higher today than at the time electricity was invented.  The 4 possible strategic directions that the industry would take over the next years, adjusting itself to the conditions of today’s economy are: First, Lifting on DIY tools, driven by speed and tech infrastructure. Second, Making sense from ever bigger data, driven by size and tech infrastructure. Third bypass the rational brain, driven by methodology. Fourth tap into consumer collaboration, driven by trust, diversity, innovation and creativity. Read more at: 

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For healthcare analytics, you need to have goals in sight

 

In USA, approx. 8o% of hospitals are using electronic health records, due to which it is possible to gather useful information for research & development. Now healthcare industries are actively looking for transformation of its major areas by meaningful use of analytics.

To know about its challenges and impact, please go through the link: http://ehrintelligence.com/2014/03/17/for-healthcare-analytics-you-need-to-have-goals-in-sight/

 

 

 

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Challenges in Long Term Care Industry

 Long term care industry is facing its biggest challenge at present. It has mainly two problems, buyers are often dropping polices more than the industry predicted and on the other hand LTC companies are struggling to survive in nearly zero interest rate. Incorrect forecast of lapse rate had squeezed the profit of the companies and forced them to increase premiums which have lost its attraction to new potential buyer. Hence LTC companies are in the verge of trimming their product line and reducing discounts. In spite of bringing new polices, the companies are still facing their biggest challenge. For more details please visit http://www.forbes.com/sites/howardgleckman/2012/08/29/whats-killing-the-long-term-care-insurance-industry/

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Recent comment in this post
SOHAM SRIMANI
Thats a well written summary man
Tuesday, 25 March 2014 05:16
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Robots- exhibiting feelings & emotions

How about a system which can learn from its mistakes? How about a system which can evolve over time automatically? We refer to these features as Artificial Intelligence, exhibited by a software or by a machine. 

To Read More: visit the following link...

http://www.theguardian.com/technology/2014/feb/22/robots-google-ray-kurzweil-terminator-singularity-artificial-intelligence

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