<div>Industry 4.0 has been filled with multiple facts and myths. Numerous key points already exist to understand the Industry Revolution. Some of them, you already know, and some of them, you never think about it. So, I am going to discuss those facts according to my research. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">Introduction&nbsp;</h2>Advanced technologies are changing the working model in every business. Manufacturing is the root process of interaction. And, the arrival of Industry 4.0 is assisting companies in multiple ways. The Industry 4.0 core technologies such as smart factories, Internet of Things (IoT), Artificial Intelligence (AI), Big Data, Augmented Reality, Advanced Human Machine Interfaces, Robots, and 3D technologies are redefining the business sectors. Integrating these technologies is taking Industry 4.0 to a higher level day by day and doing unexpected things. Let see some interesting facts about the industrial revolutions. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">1. Two Contributing Factors - "Digitization" and "Computerization"</h2>Do you know, "Digitization" and "Computerization" are the two main contributors that caused the industry revolutions' initiative? Here, shifting the manufacturing operations from analog to digital happened due to digitization. It caused the existing processes to change through digital technologies. The outcome of digitization is to provide new value to the customers. Various digital technologies changed the manufacturing operations and initiated digital data and processes within manufacturing units. Computerization of Industry 3.0 caused the adoption of computer systems to automate the procedures and encourage smart decisions without human intervention. In Layman's words, computer systems' conversion of information into digital format could be understood automatically and easily interact with other systems. Both played roles in the processing and production of goods in factories after arrival of Industry 4.0. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">2.Two Primary Objectives - Integration and Digitization of "Horizontal and Vertical Value Chain"</h2>We all know that "Horizontal" and "Vertical" value chains are two competitive strategies within industries. The integration and digitization of these strategies is the primary reason behind the revolution of industry 4.0. The horizontal value chain focuses on capturing other companies working in the same sector, while the vertical value chain controls all industrial processes. The long-term benefits of this integration have been analyzed and executed through the Industry revolution.Digitization played a critical role in this integration. The biggest e-commerce company, Amazon, is the best example who achieved this objective. Amazon already acquired other companies for the execution of various business processes. For instance, "Amazon Pay" came into existence due to the "Paypal" tie-up. Besides, Amazon has been running all its manufacturing processes itself vertically. E-commerce companies should have to learn from Amazon, which has implemented Industry 4.0 successfully. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">3. Two Primary Mass Customization Factors - "Smart Factory" and "3D Technology"</h2>You must be aware that Industry 3.0 was focusing only on mass production. The rapid development of digital technologies has started the rising common people's demands. The industries were looking for solutions that can offer more customized solutions to fulfill the customers' needs. Industry 4.0 came up with this solution, mass customization, and mass production in a cost-effective manner. The "Smart factory" and "3D technology" are two primary technologies behind this personalization.Radical robotics, smart sensors, robust cybersecurity, cloud computing, and big data analytics build smart factories. All these are increasing manufacturing productivity within factories. Another side, 3D printing, 3D configuration, and 3D visualization are bringing innovation in customizations. For instance, 3D visualization permits you to visualize products in 3D view on Amazon. The 3D configuration offers you to purchase a product according to need, make adjustments on products, and analyze the overall costs. 3D technology permits people to customize their choices and get desired things at an affordable price. A survey found that mass customization increased sales by 30% and conversation rates by 40%. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">4. Two Automation - "Automated Guided Vehicle (AGV)" and "Autonomous Mobile Robots (AMR)"</h2>Industry 4.0 has been initiated to bring automation in supply chain processes in enterprises. Automation is helping companies to achieve continuous growth. Automation happened because of a robot that can do tasks like a human being. You already heard the word "Automated Guided Vehicle," a robot that changes the way of manufacturing in factories. Development in mobile technologies brought the concept of the "Autonomous Mobile Robots". Now, AGV and AMR are optimizing the supply chain operations. It is reducing the cost of maintaining the warehouse and distribution centers with additional equipment. The flexibility of both robots is supporting operations in picking, packaging, placement, and delivery. According to the latest report, these robots' market will be increased upto $13.2 Billion in 2026 with a growth rate of 35%. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">5. Two Critical Transformation Process Factors - "Taxes" and "Legal Challenges"</h2>The transformation from small to medium business towards Industry 4.0 follows multiple stages. Various factors need to consider during change. Pricing, standardizations, platforms, etc., common factors, and every technology transformation check out these factors. Companies often overlook two critical elements, "Taxes" and "Legal challenges," while adopting industry revolutions.Industry revolution is not stuck with one country. It is happening across the world, and industries are expanding business globally. Variation in countries' constitutions and legal environment is a complex factor. Ignorance of this factor during transformation is unable to generate the desired output. It has been found that in industries, non-tech executives or experts makes final decisions on technological decisions. These groups are not aware of the legal framework associated with technological advancement. It causes issues during the shifting of the traditional factory to the smart factory. Industry 4.0 transformation must have to adopt a legal framework according to need to technologies.Similarly, controlling taxation is vital as ignorance of this might cause problems in effective resource management. The various tools and platforms of countries might impact the efficiency of new implementation in the case when it has been misused or ignored. A fair financial management among shareholders needs control on tax collection and support effective management of resources. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">6. Two Big Myths - "Reduction in Human Jobs" and "Highly Expensive"</h2>Word "Industry 4.0" came with two phrases, "reduction in human jobs" and "highly expensive". The reality is that these two are myths and most often considered as challenges. People only translate these phrases without understanding the deeper meaning. It is a fact that every technology causes a reduction in the human job. So, how Industry 4.0 would be more responsible for human job reductions? Industry 4.0 focuses on mass customization and production through automation that might cause a high reduction in human jobs. However, we should have to think another side of automation that it is time to develop skills according to the technology trends. If you are unable to do this, it might be possible that you will encounter a loss in the job after some time. Understand one line; automation has one objective: to reduce physical and time-consuming works through tools and technologies. The arrival of those tools needs human groups for execution and training. Industry 4.0 has been bringing multiple career opportunities. So, prepare yourself to start a new career of interest.Industry 4.0 has certain pillar technologies to bring innovations, productivity, and proficiency across multiple business sectors. It has been assumed that the implementation needs huge capital, making it difficult to purchase all technologies. You are already aware that internet-based services are inexpensive. Cloud computing services are providing sharable platforms and tools for the execution of business operations. And, most important, you don't need to adopt all the featured technologies during transformation. So, it has been suggested that you analyze your business, take advice from experts, and find suitable technologies. Multiple options are available for selecting inexpensive technologies. Thus, replace the phrase "Highly expensive" with the new phrase "smart investment at lower prices". <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">7. Two Skills - "Complex Problem Solving" and "Critical Thinking"</h2>We all know the word STEM, "Science, Technology, Engineering, Math" and its importance. The interesting thing is that it is also linked with the Industry revolution. When the fourth industry evolution started, no one thought it would become necessary in manufacturing in few years. It has been observed that the demand for STEM in manufacturing is getting increasing. We can say this is an essential skill for working in Industry 4.0 environment. Besides this, two skills, "Complex Problem Solving" and "Critical Thinking" achieve growth globally. Companies transform their traditional processes into Industry 4.0 to accomplish specific objectives and solving problems. They seek these skills in their people, so it becomes easy to implement the new system. People can either build these skills if they want to remain competitive in this field. Companies can also use some training programs for the development of these skills. Digital knowledge and literacy are the only options to adopt Industry 4.0 successfully. <h2 style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;">Summary</h2>The growth of big data analytics, Internet of Things, cutting-edge technologies, etc. are leading to changes in the supply chain and manufacturing. At present, we are in the midst of Industry 4.0 development, and due to this, experts call Industry 4.0 "young" technology. It means it is developing every day. We have seen various factors related to development, execution, transformation, challenges, opportunities, and skills associated with Industry 4.0 or Industrial data transformation. Knowing these facts would help you understand Industry 4.0 and how it supports various industries to improve their industrial performance.</div>

Vibha Soni

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Digital Transformation

Seven Facts Nobody Told You About Industry 4.0

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Artificial Intelligence

Artificial Intelligence's Ethical Dilemma: A Positive Outlook

<figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/d5db64f57393d74b677c4d2e48f222a5.jpg" class="kg-image" alt loading="lazy" width="2000" height="1324" srcset="https://techfastly.com/content/images/size/w600/2021/05/Dark-Factories.jpg 600w, https://techfastly.com/content/images/size/w1000/2021/05/Dark-Factories.jpg 1000w, https://techfastly.com/content/images/size/w1600/2021/05/Dark-Factories.jpg 1600w, https://techfastly.com/content/images/size/w2400/2021/05/Dark-Factories.jpg 2400w" sizes="(min-width: 720px) 720px"><figcaption>Dark Factories (Source:Unsplash)</figcaption></figure>The current scenarios are driving the concept of dark factories. Industries have been interested in dark factories or lights-out factories to bring efficiency to complex operations within factories. Effective usages of technologies like Artificial Intelligence, Cloud Computing, Blockchain, Augmented Reality, and IoT while establishing dark factories would help companies increase production. So, here I am going to discuss a few tips beneficial for dark factory establishment.<h2 id="introduction">Introduction</h2>We have already reached a stage where robots are manufacturing objects without human intervention. But have you heard that these robots can also perform in the dark, meaning "a place without any light, heat, or air"? Yes, I am talking about the "Dark factory" or "Lights-out factory", where robots can work in dark without any human intervention.In recent years, dark factories are getting popular among diverse industries. China is number one in the world to adopt dark factories. Japanese robotic company, <a href="https://www.fanuc.eu/bg/en/who-we-are/news/en-news-factory-automation-for-industry-4">Fanuc</a> is world-famous for using dark factories. The company is making robots with the help of robots since 2001. The latest study says that the company is building around 50 robots in a day without light, heat, or air. Besides, a Dutch company, Philips, has already implemented dark factories for making electric razors. The company has only nine humans working as quality assessors to supervise processes.The installation of a dark factory needs strategic planning for the effective use of tools and technologies. The lack of strategies could lead to various challenges like safety, reliability, flexibility, and network performance. Besides, expensive installation costs and lack of quality are other major challenges. We can overcome these challenges through the effective use of technologies.How, so let's discuss some exciting strategic tips for establishing dark factories in a better way:<h2 id="five-technology-tips">Five Technology Tips</h2>The dark factories have eliminated the need for human intervention. It depends only on robots and machines that work together in a dark automated environment. The lights-out manufacturing operations offer benefits including efficient business operations, and high capacities to process huge data, mass productions, quality products, no requirement of unskilled laborers, and lower labor costs. These benefits are attracting industries to switch towards dark factories. Although, challenges associated with dark factory establishment are making them think twice before making a final decision.<h3 id="1-blockchain-use-it-to-establish-trust-among-business-partners">1. Blockchain ? "Use it to establish trust among business partners"</h3>The most prominent feature of blockchain is that it could be used in places where there is a lack of trust among business associates. Different digital ledger databases are already offering services to factories. The basic concept of a blockchain database is: whenever participants submit updates to the ledger, it uses an automated process to take approval on updates from other participants within the network. Thus, a blockchain builds a record of all transactions and other agreements.The <a href="https://www.automationworld.com/home/article/13319698/blockchains-role-in-factory-automation">AutomationWorld</a> has shared the most foreseen application for blockchain in manufacturing industries. It describes the following uses: which include traceability (55%), record management (53%), supply chain automation (51%), and payment via cryptocurrencies (51%). One of the biggest concerns while implementing dark factories is data security concerning interconnected and automated systems. In a dark factory setup, the data is shared across machines, systems, supply chain partners, machinery providers, manufacturers, and associated business partners. It raises the question of data security within factories. The auditing, six-sigma practices, documentation, etc., have been used to build trust among different stakeholders of dark factories. All these lead to expensive costs.So, how can we utilize the blockchain to overcome these concerns? The following tips could help companies bring competition in manufacturing sectors through blockchain.? The Internet of Things or IoT connects the objects through the internet to encourage data automation and sharing. The integration of blockchain with IoT would enhance data security, reliability, transparency, and interoperability. Hardware and software are fundamental components of dark factories and, this integration would support checking hardware identity and make stable documentation. Top IoT companies, Cisco and Bosch, are developing an "Open Source Standard" to integrate IoT and blockchain effectively. The standard would bring a smart card interface for seamless data movement within blockchain-enabled systems.? Another way to use blockchain is: Use the existing feature of "Self-managed blockchain" and affix tools to improve facilities and enhance production. It is referred to as "Blockchain as a Service or BaaS" to organize host nodes in the cloud platforms and local storages.? The next innovative way to use blockchain is: Use the "Pay-per-use" model or "Machines as a Services/MaaS" that offers services, machinery, and equipment to customers who can pay according to the generated output. It would be best for heavy manufacturing industries like aircraft, boats, tractors.<h3 id="2-lifi-modern-technology-to-improve-data-communication-among-dark-factory">2. LiFi ? "Modern technology to improve data communication among dark factory"</h3>Low Fidelity or, in short, LiFi is a modern practical technology to deliver and transmit data using visible, ultraviolet, or infrared lights rather than radio frequencies. It is also considered to be a promising technology as researchers are still working on it.Dark factories are facing issues in data transmission and communication because of radio-frequency signals. Theoretically, the radio frequencies have high speed, but practically, the data speed is lower. This variation is causing high latency issue. The overall output is a delay in data communication within machines, systems, and other connected objects. The technology has the potential to overcome these challenges and issues associated with data transmission through 5G.The LiFi technology supports smooth communication among all machinery and does not cause network interference like radio frequency systems Communication without delay leads to improved productivity and quality of products/services. The high transmission speed and broad bandwidth could enhance the efficiency of the manufacturing processes. In this way, the adoption of this technology would support automation more reliably within dark factories. Hence, choosing this technology within dark factories would be a better decision for a manufacturer to generate fast and secure data communication among all interconnected parts.<h3 id="3-internet-of-things-iot-develop-new-iot-platforms-to-accelerate-operations-within-dark-factory">3. Internet of Things/IoT ? "Develop new IoT platforms to accelerate operations within dark factory"</h3>We already highlighted that the integration of IoT with blockchain could bring a drastic improvement in dark factories. The main objective of IoT is to build smart objects using sensors, software, and hardware. IoT is already offering remote monitoring, chip management, security, loading/unloading of materials, maintenance, etc., in dark factories. In short, without IoT, building a dark factory is not possible. So, how can we improve the operations through IoT? The answer is by developing a new IoT platform as per industry requirements that would enhance automation. Developing an IoT platform is not complex and does not require huge investment. The initial investment in developing an IoT platform will benefit the manufacturer in the long run.We all know that dark factories face issues in the supply chain section and face end-to-end data management and analysis problems. The development of a new platform would support effective data processing, analytics, and output delivery.Let?s see an example of a company that brought a new IoT platform by merging it with manufacturing execution and intelligence system to encourage the adoption of dark factories. The company's name is <a href="https://www.criticalmanufacturing.com/en/newsroom/short-news/posts/short-news-3/product-launch-event-join-the-manufacturing-data-revolution#.YI_6b-3ivMU">Critical Manufacturing</a>, which uses the Manufacturing Execution System (MES) to build Industry 4.0 or Dark Factories. . It is also offering high-tech and complex products. The company aims only to drive productivity across the supply chain. The company recently launched a more advanced and disruptive product, "Industry 4.0 MES", a new IoT data platform. The company has integrated MES with IoT to bring innovation in material logistics and automation. This new approach can overcome all possible challenges associated with data management in dark factory installation.<h3 id="4-integration-of-cloud-computing-and-edge-computing-develop-centralized-ecosystem">4. Integration of Cloud Computing and Edge Computing ? "Develop centralized ecosystem"</h3>Manufacturers know that ensuring security, reliability, and high network performance within dark factories is challenging; and, a single technology can't provide this surety. Besides, market demands to scale up production with efficacy. We already discussed that blockchain and IoT have features to improve security in specific areas. Along with these technologies, the implementation of cloud computing and edge computing could overcome these challenges.Edge computing has the potential to reduce latency, increase network performance, and deliver reliable services, whereas cloud computing can scale platforms to process huge data. Combining decentralized edge computing and centralized cloud computing will bring an effective industrial automation platform for dark factories. We can call this platform a centralized ecosystem that could produce multiple data resources and process data. For instance, "Industrial Cloud" is a customized platform to support industrial automation. In short, it can efficiently analyze edge computing data that ensures data reliability within the dark factory.<h3 id="5-augmented-reality-simulate-dark-factory-processes">5. Augmented Reality ? "Simulate dark factory processes"</h3>Another trending technology, Augmented Reality (AR), is getting popular by providing a real-world experience to people in a virtual environment. AR is using audio, visual, and other sensory elements for creating a simulated environment. . High implementation cost is a critical challenge for manufacturers while considering AR technology in their dark factories, which prevents them from using it. However, the technology could help them to install dark factories prudently.Manufacturers should have used AR for focusing on lights-out processes. For instance, the supply chain is a critical part of dark factory operations. If we could use AR to find out approx time for material movements and their management, it would be helpful to make the supply chain more flexible. Similarly, the technology AR can also be considered a coach to understand the data processing according to business needs. These two things would help the companies to install dark factories to smooth business operations.<figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/df1e82cb1700c9531fbaca32d67d0b5d.png" class="kg-image" alt loading="lazy" width="800" height="2000" srcset="https://techfastly.com/content/images/size/w600/2021/05/Five-Technology-Tips-For-Dark-Factories-Installation--1-.png 600w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/df1e82cb1700c9531fbaca32d67d0b5d.png 800w" sizes="(min-width: 720px) 720px"><figcaption>Dark Factories Installation Tips</figcaption></figure><h2 id="recap">Recap</h2>Nowadays, automation and digitation have become a priority for businesses. For industrial companies, dark factories are a modern manufacturing method where operations take place in the dark. These businesses seek to execute tedious and risky operations in a safe environment. The arrival of dark factories is helping them to run a factory using programming robots without human interference. We are already aware that dark factory is the outcome of different technologies. We also explored that how it could be used more productively in manufacturing operations. Making changes in manufacturing processes would encourage industries to adopt the future of factories to be competent in technology.The manufacturers must consider factors such as feasibility, benefits, associated regulations, and compliance with business objectives irrespective of technologies. It is because all these directly impact the decisions of installation. According to current business problems, it is suggested to use one or more technologies in dark factories.

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Five Technology Tips For Dark Factories Installation

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Why Azure IoT Edge Computing is in demand?

According to a recent <a href="https://www.gartner.com/en/newsroom/press-releases/2021-04-28-gartner-forecasts-worldwide-hyperautomation-enabling-software-market-to-reach-nearly-600-billion-by-2022">new forecast by Gartner, Inc.</a>, the worldwide hyper-automation would enable the software market up to $596.6 billion by 2022. The prediction is enough to say that technologies become a dire need for the highly competitive market. Among emerging technologies, Artificial Intelligence (AI) and Machine Learnings (ML) are positioned at the top to bring automation to businesses. Business leaders are seeking to implement AI &amp; ML to transform their traditional business processes. They are looking for resources to understand how it works. Here is a list of books that would help understand how AI and ML could be game-changers for their business.<h3 id="1-competing-in-the-age-of-ai-strategy-leadership-when-algorithms-and-networks-run-the-world">(1) Competing in The Age of AI: Strategy &amp; Leadership When Algorithms And Networks Run The World</h3>Author: Marco Lansiti &amp; Karim R. LakhaniReleased: 2020Review &amp; Features:The central idea of the whole book is to provide information about AI and how it has been changing the business industries. The authors have explained that AI, networks, and data analytics can remove traditional business constraints like scope, scale, and learning and support companies to design new business models. The book has covered the concept "Age of AI" to point out that AI has been transforming businesses' working styles and changing economic models. Authors urged that "AI is becoming the universal engine of execution". AI is bringing new companies operating execution models by integrating different software, algorithms, and operating systems. The authors used the example of "Amazon" to articulate this concept and compared it with Walmart. The transformation in competition is possible through the emergence of various digital operating models. The book has provided examples of some companies competing with each other. Snapchat, Facebook, Tencent (WeChat), and TikTok have adopted scalable digital operating models to stay in the competition. The explanation about other concepts like AI factory, Strong and Weak AI, Framework, Strategic Collisions, and Ethics has been described with real-life examples. The authors took three industries, including entertainment: YouTube, Netflix; banking: Ant financial; and hospitality: Airbnb, to explain the recurring pattern. The author pointed out that Weak AI is more impactful to enhance business growth.The book is perfect for every business leader who is thinking of transforming the business to compete in the market. Amazon Link:<a href="https://www.amazon.in/Competing-Age-AI-Leadership-Algorithms-ebook/dp/B07MWCTNSD">Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World eBook : Iansiti, Marco, Lakhani, Karim R.: Amazon.in: Kindle Store</a><h3 id="2-the-algorithmic-leader-how-to-be-smart-when-machines-are-smarter-than-you">(2) The Algorithmic Leader: How to Be Smart When Machines Are Smarter Than You</h3>Author: Mike WalshReleased: 2019Review &amp; Features:The book is not like a traditional book. It has been considered a practical approach to learning AI, automation, and algorithms to transform everyday operations. According to the author, we live in a world where wonders happen every day because of technology. Still, we assume that robots are replacing human jobs. The author argues that it is not true; the fact is that human beings are unwilling to adopt the changes.The author has extensively researched, interviewed business leaders, industry experts, and scientists to explore the potential of human intelligence in the future. He provided a simple definition of algorithm leader, "An algorithm leader is someone who has successfully adapted their decision making, management style, and creative output to the complexities of the machine age." To encourage human beings and push them to become 'smart', the author developed the "10 Principle" shown in the picture. The author explored varied industries, cultures, and history to understand how to get success using AI. His principles are surrounded by futuristic ideas such as machine learning, probabilistic thinking, disruptive innovation, decentralization, and digital ethics. Through this practical knowledge, the author pointed out that first, change your mind, change the work style, and then you can change the world. This change is not stuck for business purposes only but also applicable to personal life. The book articulated the power of algorithms and how it plays a vital role in every aspect of the business. This book is best for anyone who wants to learn from real-life experiences and those who want to learn only specific principles.<figure class="kg-card kg-image-card"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/27076f25cd8b80a3d5d16b1b75ee178c.png" class="kg-image" alt="10 Principles shared by Mike Walsh" loading="lazy" width="577" height="319"></figure>Source: <a href="https://www.mike-walsh.com/algorithmic-leader">The Algorithmic Leader | Mike Walsh (mike-walsh.com)</a>Amazon Link:<a href="https://www.amazon.in/Algorithmic-Leader-Smart-Machines-Smarter-ebook/dp/B07MFFVLRJ#:~:text=See%20more%20recommendations-,The%20Algorithmic%20Leader%3A%20How%20to%20Be%20Smart%20When%20Machines,Smarter%20Than%20You%20Kindle%20Edition&amp;text=Find%20all%20the%20books%2C%20read%20about%20the%20author%2C%20and%20more.&amp;text=We%20live%20in%20an%20age,advanced%20manufacturing%20to%20complex%20surgery.">The Algorithmic Leader: How to Be Smart When Machines Are Smarter Than You eBook : Walsh, Mike: Amazon.in: Kindle Store</a><h3 id="3-business-data-science-combining-machine-learning-and-economics-to-optimize-automate-and-accelerate-business-decisions">(3) Business Data Science: Combining Machine Learning and Economics to Optimize, Automate, and Accelerate Business Decisions</h3>Author: Matt TaddyReleased: 2019Review &amp; Features:"Business data science refers to a modern standard for data analysis to implement it for businesses". The book aims to provide an essential concept of machine learning for solving business problems and help grow the business economy. The author has provided a toolset for business data science by integrating machine learning, statistics, and economics concepts.The uncertainty, regression, regularization, validation, classification, controls, and factorizations are building blocks of machine learning. All of these concepts have been explained with various examples. According to the author, "Machine learning is the field that thinks about how to automatically build robust predictions from complex data". It has been pointed out that ML and statistics are closely related to each other, which is inspiring new ideas for designing new ML algorithms to solve any business problems. Another feature of the book is snippet codes of R language to explain the data analysis methods. It would be helpful for readers to use these codes as references and develop new codes. Technologies have been changing everything, and it is forcing business leaders to make wise decisions. Applying the prediction concept and developing a system would help understand the future risk and make better decisions. Henceforth, the book is an excellent resource for learning the principles, applications, and practices to explore business data sciences. Amazon Link:<a href="https://www.amazon.in/dp/B07HRVYTHV/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1">Business Data Science: Combining Machine Learning and Economics to Optimize, Automate, and Accelerate Business Decisions eBook : Taddy, Matt: Amazon.in: Kindle Store</a><h3 id="4-artificial-intelligence-for-business-leaders">(4) Artificial Intelligence for Business Leaders</h3>Author: Ajit K JhaReleased: 2020Review &amp; Features:Readers do not require prior knowledge of AI and relevant topics. They do not need to learn complex algorithms and code to apply AI to drive their business. The book has covered all essential theoretical concepts to explain AI and how it can change every business. The author has provided a lucid definition of all concepts. For instance, "Machine Learning is a kind of Artificial Intelligence that provides computers the ability to learn without being explicitly programmed." This simple definition of Machine Learning is easily understandable by anyone.Another exciting feature of the book is that the author explained AI use-cases and practical examples to find out how AI makes business operations easy. Strategy formation before technology implementation is challenging for every business leader. The book has covered "Enterprise and Economic strategy" to help business leaders create effective business strategies.Apart from this, most business leaders try to find other details about the technology, such as how disruptive it is, how it generated results in the past, where it failed, and what would be the future, or who is providing the services. The author has used examples of big companies like Amazon, Apple, Microsoft, and Google to describe all these. All this information would be beneficial for readers to make a wise decision before adopting AI. In my opinion, the book is best not only for business encaustics but also for technology leaders to get the updated information in one place.Amazon Link:<a href="https://www.amazon.in/Artificial-Intelligence-Business-Leaders-INTELLIGENCE-ebook/dp/B08DHZJ936">Artificial Intelligence for Business Leaders: ARTIFICIAL INTELLIGENCE and MACHINE LEARNING BOOK FOR MANAGERS, LEADERS || ZERO CODING WITH SIMPLE Explanation ... Intelligence for managers and leaders 1) eBook : Jha, Ajit K: Amazon.in: Kindle Store</a><h2 id="5-the-ai-first-company-how-to-compete-and-win-with-artificial-intelligence">(5) The AI-First Company: How to Compete and Win with Artificial Intelligence</h2>Author: Ash FontanaReleased: 2021Review &amp; Features:The author wrote this book to encourage the formation of AI-First companies with capabilities of data gathering, processing, and using it in the required place. The author himself founded, <a href="https://www.theaifirstcompany.com/">The AI-First Company</a> to support this encouragement. The author highlighted that AI-First companies are trillion-dollar companies that would take top place among all industries. These companies follow the design principle to develop predictive models which perform prediction and automation of business functions. And, the book would help them to understand the practical implementation of AI. The cornerstone of the book is its framework which consists of eight parts. The author explained each part through a single chapter. For instance, the first part brought a new concept, "Data Learning Effects (DLE)" designed using network, scale, and learning effects. The author has designed the following formula:DLE = Economics of scale to data + data processing capabilities + data network effectsAlso,Output = function (data, data processing capabilities, and data network effects) Besides this part, the next parts are related to lean AI, strategy formation, team building, execution, and advantages. All these parts would help readers to integrate AI with existing business processes to automate it. The recent <a href="https://www.youtube.com/watch?v=McbZU_q0TWk">conversation</a> of Author Christian Lutz, founder of <a href="How%20to%20win%20with%20AI%20and%20data:%20Ash%20Fontana%20talks%20with%20Christian%20Lutz%20(crate.io)">Crate.io</a> has also pointed out the importance of AI and ML in business. The book is unique to find out the systematic steps of AI implementation in the existing business. Amazon Link:<a href="https://www.amazon.in/AI-First-Company-Compete-Artificial-Intelligence-ebook/dp/B08MVSH7XZ">The AI-First Company: How to Compete and Win with Artificial Intelligence eBook : Fontana, Ash: Amazon.in: Books</a><h2 id="final-thoughts">Final Thoughts</h2>The availability of thousands of books always gets us confused, especially those who do not have a strong background in technology. I have recommended five AI and ML books for business leaders, executive managers, data scientists, and engineers through this article. All these five books cover theoretical concepts, original use-cases, original principles, and real examples related to ML and AI. After reviewing all these books, I want to conclude that these are fantastic resources to understand AI power and how we can use it in business transformations.

Top Five AI-ML Books For Business Leaders

Did you know that global quantum computing is expected to reach $411.4 million by 2026? Global Industry Analyst Inc. (GIA)’s study shows that quantum computing has already brought changes in the market post-COVID-19. The drastic transformation demanded by the pandemic in banking & finance, healthcare, transporting, space, defence, and other sectors has given an edge to the quantum computing market. Google has already got a quantum computer that can perform a calculation in 200 seconds only, while a traditional supercomputer would need 10000 years to solve the same problem.

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