ADDITIVE

MANUFACTURING
Additive manufacturing (AM), also known as 3D printing, is a transformative
approach to industrial production that enables the creation of lighter, stronger parts
and systems. The term AM encompasses many technologies including subsets like
3D Printing, Rapid Prototyping (RP), Direct Digital Manufacturing (DDM),
layered manufacturing and additive fabrication. Additive manufacturing was first
used to develop prototypes in the 1980s — these objects were not usually
functional. This process was known as rapid prototyping because it allowed people
to create a scale model of the final object quickly, without the typical setup process
and costs involved in creating a prototype. As additive manufacturing improved, its
uses expanded to rapid tooling, which was used to create molds for final products.
By the early 2000s, additive manufacturing was being used to create functional
products. To create an object using additive manufacturing, a design is created.
This is typically done using computer aided design, or CAD software, or by taking
a scan of the object someone wants to print. Software then translates the design
into a layer by layer framework for the additive manufacturing machine to follow.
This is sent to the 3-D printer, which begins creating the object immediately. “You
go directly from digital to physical, which is quite a change”. Additive
manufacturing uses any number of materials, from polymers, metals, and ceramics
to foams, gels, and even biomaterials. For example, instead of milling a work piece
from a solid block, additive manufacturing builds the part up layer by layer from
material supplied as a fine powder.
Companies like Boeing and General Electric have begun using additive
manufacturing as integral parts of their business processes. Companies like
Caterpillar, which ships replacement parts within 24 hours, could have 3-D printers
set up at strategic locations to print and deliver those parts instead of keeping
inventory stocked at those locations. Mercedes, which says it will always supply
spare parts for any car, could 3-D print the parts for a 1928 SSK for significantly
less than it would cost to produce them traditionally.

To understand more watch the videos

https://www.youtube.com/watch?v=t4S0mKjXtT4
https://www.youtube.com/watch?v=yiUUZxp7bLQ
https://www.youtube.com/watch?v=Cy3V3KR1LWc
https://www.youtube.com/watch?v=8a2xNaAkvLo
https://www.youtube.com/watch?v=NM55ct5KwiI
https://www.youtube.com/watch?v=NKr_zCCkEKs
Advantages:
1. Production on demand
2. Experience innovation
3. Lightweight components
4. Functional integration (Reduce assembly costs, make better use of
space: intelligent functional integration drastically reduces the number
of parts and takes more advantage of available space – making spatial
requirements and assembly costs more manageable.)
5. Waste reduction and energy savings.
6. Inventory stock reduction
7. Supply chain improvements (Finished product can be manufactured
in proximity to the end-user.)
Disadvantages
1. Cost of entry
The cost of entry is still prohibitive to many organisations and, in particular, smaller
businesses. The capital costs to purchase necessary equipment can be high and many
manufacturers have already invested significant capital into the plant and equipment for
their traditional operations.
2. Production costs
Production costs are high. Materials for AM are frequently required in the form of
exceptionally fine or small particles that can considerably increase the raw material cost of a
project.
3. Additional materials
Currently there is a limit to the types of materials that can be processed within AM
specifications and these are typically pre-alloy materials in a base powder. The mechanical
properties of a finished product are entirely dependent upon the characteristics of the
powder used in the process.
4. It’s slow
Additive manufacturing is still considered a niche process. That is largely because AM still
has slow build rates and doesn’t provide an efficient way to scale operations to produce a
high volume of parts.
5. Post-processing
A certain level of post-processing is required to rectify any quality issues because surface
finishes and dimensional accuracy can be of a lower quality.
 ADDITIVE
MANUFACTURING
APPLICATIONS
Aerospace
The aerospace industry was one of the first to adopt additive manufacturing.
The commercial and military aerospace needs flight-worthy components that
are made from high-performance materials. Additive manufacturing helps
deliver complex, consolidated parts with consolidated designs that require
less material and overall weight reduction with the enhanced strength that is a
requisite in the industry.
Consumer products
AM has proven beneficial to the product development of many consumer
goods such as sporting goods and consumer electronics. Quickly delivering
detailed iterations early in the product development life cycle, with fine
details, functionality, and realistic aesthetics.
Energy
AM applications have developed in the gas, oil and energy industries
including various control-valve components, pressure gauge pieces, turbine
nozzles and pump manifolds. With the capability to develop corrosion
resistant metal materials AM has the potential to create customized parts for
use under-water or other harsh environments, associated with the industry.
Medical
AM in the medical field is producing advancements in the areas of
orthopaedic implant and dental devices, as well as tools and
instrumentation such as seamless medical carts, custom saw and drill
guides, and custom surgical tools alongwith revolutionising areas of
customized implants, and the life-saving devices and pre-surgical tools to
increase patient results.
Transportation
The transportation industry requires parts that withstand extreme speeds
and heat, while still being lightweight enough. AM applications
transforming the transportation industry include rapid prototyping and
producing parts. Eg. Aluminum alloys are used to produce exhaust pipes
and pump parts.
 Impact of Additive
Manufacturing
on
Supply Chain Management
• Additive Manufacturing (AM) affects the supply chains of the brands that use it.
AM can deliver many quantifiable advantages to supply chain managers and the
supply chain itself. Each advantage - from simplifying processes, through
reducing bottlenecks to ultimately decreasing costs - is a worthwhile separate
feature in itself.
• Physical parts held up in transit are a threat for just-in-time production and local
manufacturers. AM can reduce the impact of these trade issues through its ability
to produce parts on demand and locally.
• Producing an assembly all at once involves the procurement of a single raw
material rather than procuring multiple parts and then assembling them. This is a
natural ability of AM since it has virtually no geometric restrictions, unlike other
manufacturing techniques. GE, for example, has used the technology in their
newest TurboProp engine. In this engine they replaced over 850 metal parts with
just 12 3D printed complex parts.
• AM capability within supply chains is its ability to enable virtual inventories and
a digital rather than physical supply chain. AM with virtual inventories cuts out
the headache and costs of balancing excess and shortages in physical inventory at
individual locations.
• AM provides an opportunity to recreate obsolete or out-of-production parts,
thereby overcoming an inherent problem for both manufacturers and their
customers. These benefits also apply for each party when you consider the
advantage delivered by AM in so far as the production and delivery of
emergency spare parts.
• In most traditional manufacturing technologies, the minimal batch size is
quite large (tens- or hundreds- of thousands, and sometimes millions of items
in a single manufacturing run). It is expensive to produce, store and manage
this inventory, particularly when there is no guarantee the parts will actually
be used. 3D printing transforms the traditional supply chain and cut away
transportation costs. Digital inventory converted into physical inventory,
when where and in the exact quantity required, means true on-demand
production with no waste. Only parts that are demanded are produced – no
obsolete parts.
• Since the part is produced just in time, it can be the most up to date part
available, rather than serving up an outdated part we need to get out of our
physical inventory.
 Mass Customisation
and
Additive Manufacturing
The term ‘mass customisation’ generally refers to applications that allow
individuals to tailor their product based on a set of predetermined features.
For customers, mass customisation means unique products and services, while
for manufacturers, it means added product value and the possibility to establish
lasting relationships with their customers.
When it comes to mass-customization, Additive Manufacturing presents
interesting economic benefits. 3D printing does not require any moulds or
specific tools that normally are needed for traditional manufacturing methods.
With the set-up of the right digital tools, the customization choices that customers
make can be implemented within the 3D file straight away, and then go to
production. To move from mass production to mass сustomisation, a company
needs to invest in the right technological capabilities.
Because the production process costs the same for either 1 or 1000 3D printed
objects, mass-customized products can be 3D printed without having any bearing
on costs.
• In the consumer goods industry, 3D printing is used to create footwear, customized to
the wearer’s feet. One example of this approach in practice is Dr. Scholl’s custom 3D-
printed shoe inserts.

• The healthcare industry is adopting 3D printing to create tailor-made prosthetics,

implants and surgical tools. Hearing aid manufacturer, Sonova, a market leader within
the hearing aids market, has been using 3D printing technology to produce patient-
specific in-the-ear hearing aids. one can take a picture of one’s ear, then upload it to
the app which then allows the user to receive custom earbuds, fitted to their ear size
and comfort preference.

• Some luxury carmakers already use AM to deliver designs tailored to customer

requirements. For example, MINI, the British automotive marque of BMW, launched
a 3D printing customization service, MINI Yours customized, for its customers in
2018.
Through this service, customers can choose from a list of different patterns and
finishes, add text, or pick from a small selection of cityscapes to customize car parts,
such as door handles or parts of the side plate. Porsche is using 3D printing to
produce the central section of the car seat, customized by 3 firmness levels: hard,
medium and soft.
• A good example of this is jewellery customization with 3D printing. The technology is
used to create a wax pattern of a jewellery piece for investment casting. The wax
pattern is then covered in a heat-resistant material, such as plaster, and placed into an
oven where the wax is melted, leaving only the hardened plaster mould. The molten
precious metal is then poured into the mould, filling the space left by the wax.
This method helps jewellery makers save time and effort associated with hand carving
models, whilst allowing them to design highly intricate, custom jewellery pieces.

• Vowsmith is a digitally driven business that enables couples to purchase wedding rings
directly from an e-commerce website and customise them with their fingerprints.

• The exclusive Italian furniture company, Poltrona Frau, is one example of a company
that makes good use of 3D printing for mass customization and allows customers to
customize the furniture pieces themselves. Poltrona Frau offers customers a 3D tool on
the website for them to visualize their furniture and then to be able to customize it.
MACHINE
LEARNING
Machine learning is a type of artificial intelligence (AI) that allows software
applications to become more accurate at predicting outcomes without being
explicitly programmed to do so. Recommendation engines are a common use case
for machine learning. Other popular uses include fraud detection, spam filtering,
malware threat detection, business process automation (BPA) and predictive
maintenance.
Machine learning is important because it gives enterprises a view of trends in
customer behavior and business operational patterns, as well as supports the
development of new products. Many of today's leading companies, such as
Facebook, Google and Uber, make machine learning a central part of their
operations. Machine learning has become a significant competitive differentiator for
many companies.
Today, machine learning is used in a wide range of applications. Perhaps one of the
most well-known examples of machine learning in action is the recommendation
engine that powers Facebook's news feed. Facebook uses machine learning to
personalize how each member's feed is delivered. If a member frequently stops to
read a particular group's posts, the recommendation engine will start to show more
of that group's activity earlier in the feed.
Behind the scenes, the engine is attempting to reinforce known patterns in the
member's online behavior. Should the member change patterns and fail to read posts
from that group in the coming weeks, the news feed will adjust accordingly.
Other uses for machine learning include the following:
Customer relationship management
CRM software can use machine learning models to analyze email and
prompt sales team members to respond to the most important messages
first. More advanced systems can even recommend potentially effective
responses.
Business intelligence
BI and analytics vendors use machine learning in their software to identify
potentially important data points, patterns of data points and anomalies.
Human resource information systems
HRIS systems can use machine learning models to filter through
applications and identify the best candidates for an open position.
Self-driving cars
Machine learning algorithms can even make it possible for a semi-
autonomous car to recognize a partially visible object and alert the driver.
Virtual assistants
Smart assistants typically combine supervised and unsupervised machine
learning models to interpret natural speech and supply context.
 DEEP
LEARNING
Deep learning is a subset of machine learning. It’s technically
similar to machine learning and functions in many ways, but its
capabilities are different. Basic machine learning models do
become progressively better at whatever their purpose is, but they
still need some guidance. But with a deep learning model, the
algorithms can determine on their own if a forecast is accurate or
not. Experts create algorithms in neural networks that help to
maintain accuracy in problems like image recognition, sound
recognition, recommender system. Custom-built deep learning
solutions helps to build robust and intelligent AI network models
that are capable enough to learn complex representations of data
automatically. Developers focus on providing deep learning
implementation services to solve business challenges.
Practical applications of Deep Learning:
• How do you think Facebook recognizes the millions of images that users post on its
site without much of a human intervention? It is machine learning at work that goes
through millions of images at one go to find out what is there in each image with
heightened accuracy. It then labels those images as per the conditions that are imposed
for segregating the images.
• Deep learning approaches based on artificial neural networks have helped to improve
our abilities to build more accurate systems across a broad range of areas, including
computer vision, language translation, speech recognition, natural language
understanding tasks, and more.
• Siri, Alexa, Google Now are some of the popular examples of virtual personal
assistants. As the name suggests, they assist in finding information, when asked over
voice. All you need to do is activate them and ask “What is my schedule for today?”,
“What are the flights from Germany to London”, or similar questions. For answering,
your personal assistant looks out for the information, recalls your related queries, or
send a command to other resources (like phone apps) to collect info. You can even
instruct assistants for certain tasks like “Set an alarm for 6 AM next morning”,
“Remind me to visit Visa Office day after tomorrow”.
• When booking a cab, the app estimates the price of the ride.
• There are a number of spam filtering approaches that email clients use. To ascertain
that these spam filters are continuously updated, they are powered by machine
learning. When rule-based spam filtering is done, it fails to track the latest tricks
adopted by spammers.
• A number of websites nowadays offer the option to chat with customer
support representative while they are navigating within the site.
• Google and other search engines use machine learning to improve the
search results for you. Every time you execute a search, the algorithms at
the backend keep a watch at how you respond to the results. If you open
the top results and stay on the web page for long, the search engine
assumes that the the results it displayed were in accordance to the query.
• You shopped for a product online few days back and then you keep
receiving emails for shopping suggestions. If not this, then you might have
noticed that the shopping website or the app recommends you some items
that somehow matches with your taste.
Augmented Reality
Augmented reality (AR) is an enhanced version of the real physical world
that is achieved through the use of digital visual elements, sound, or other
sensory stimuli delivered via technology. It is a growing trend among
companies involved in mobile computing and business applications in
particular. Augmented reality (AR) is an experience where designers
enhance parts of users’ physical world with computer-generated input.
Designers create inputs—ranging from sound to video, to graphics to GPS
overlays and more—in digital content which responds in real time to
changes in the user’s environment Users can see virtual objects in their
natural surroundings.
L'Oréal's Modiface is one of the best-known examples of AR within retail,
with the feature allowing customers to digitally try on make-up through the
brand's app.
PepsiCo recently pranked commuting Londoners with an AR-enabled bus
stop display. Travellers were shown a prowling tiger, a meteor crashing and
an alien tentacle grabbing people off the street.
To understand more watch the video
https://www.youtube.com/watch?v=GB_qT6rAPyY
VIRTUAL
REALITY
Virtual Reality (VR) is the use of computer technology to create a simulated environment.
Unlike traditional user interfaces, VR places the user inside an experience. Instead of
viewing a screen in front of them, users are immersed and able to interact with 3D worlds.
By simulating as many senses as possible, such as vision, hearing, touch, even smell, the
computer is transformed into a gatekeeper to this artificial world.
Virtual Reality’s most immediately-recognizable component is the head-mounted display
(HMD).
Major players in Virtual Reality include PlayStation VR (PSVR), HTC Vive and Oculus Rift.
MIXED REALITY
Mixed Reality (MR) is a combination of multiple advanced technologies, primarily Virtual
Reality and Augmented Reality. Computer chip manufacturer Intel’s website explains, MR
“provides the ability to have one foot (or hand) in the real world, and the other in an
imaginary place.” While AR enhances a user’s perception of the real world, MR can blur
the difference between what is real and what is not. Mixed Reality is a technology that is
quickly making its way into mainstream use.

The use of mixed reality in learning offers many advantages over traditional
teaching methods, including:
Significant cost savings. Holograms can effectively substitute expensive and
fragile equipment used for teaching.
Increased learner productivity. Mixed reality reduces information bottlenecks
and improves performance on skills-based tasks.
Faster learning. Immersive environments allow learners to assimilate complex
information in a shorter time.
Increased safety. Safety is crucial in dangerous occupations and industries such as
oil and gas. Mixed reality can offer a way to train workers on-site (for example, at
an oil refinery) with minimum disruption to their work processes.
Mixed reality examples in gaming are multiple, and the tech has many benefits for this field.
One of them is bringing a social aspect to virtual gaming. Up to now, virtual games usually
limited the perception of digital objects to the person wearing the headset, meaning the
gaming experience they provided was entirely solitary. Mixed reality has the power to solve
this problem by creating a communal virtual world. In other words, several users can share
the gaming experience through multiple headsets.
Magic Leap, for instance, has already introduced influential mixed reality games. High-
profile franchises such as Star Wars, Game of Thrones, and Angry Birds are worth trying.
Medical students and doctors can use MR holograms to practice various complex
procedures. One example is in spinal surgery where MR can simulate the
experience of doing surgical operations on the spinal column.
INTERNET OF
THINGS (IoT)
The Internet of Things (IoT) describes the network of physical objects—“things”—that
are embedded with sensors, software, and other technologies for the purpose of
connecting and exchanging data with other devices and systems over the internet.
These devices range from ordinary household objects to sophisticated industrial tools.
The internet of things, or IoT, is a system of interrelated computing devices,
mechanical and digital machines, objects, animals or people that are provided with
unique identifiers (UIDs) and the ability to transfer data over a network without
requiring human-to-human or human-to-computer interaction. Organizations in a
variety of industries are using IoT to operate more efficiently, better understand
customers to deliver enhanced customer service, improve decision-making and
increase the value of the business.
IoT can also make use of artificial intelligence (AI) and machine learning to aid in
making data collecting processes easier and more dynamic.
The internet of things helps people live and work smarter, as well as gain complete
control over their lives. In addition to offering smart devices to automate homes, IoT is
essential to business. IoT provides businesses with a real-time look into how their
systems really work, delivering insights into everything from the performance of
machines to supply chain and logistics operations.
IoT enables companies to automate processes and reduce labor costs. It also cuts down
on waste and improves service delivery, making it less expensive to manufacture and
deliver goods, as well as offering transparency into customer transactions.
Benefits of IoT
Some of the common benefits of IoT enable businesses to:
• monitor their overall business processes
• improve the customer experience
• save time and money
• enhance employee productivity
• integrate and adapt business models
• make better business decisions
• generate more revenue
• ability to access information from anywhere at any time on any device
• improved communication between connected electronic devices
• transferring data packets over a connected network saving time and money
• automating tasks helping to improve the quality of a business's services and
reducing the need for human intervention.
IoT encourages companies to rethink the ways they approach their businesses and
gives them the tools to improve their business strategies.
IoT is most abundant in manufacturing, transportation and utility organizations,
making use of sensors and other IoT devices; however, it has also found use cases
for organizations within the agriculture, infrastructure and home automation
industries, leading some organizations toward digital transformation.
IoT can benefit farmers in agriculture by making their job easier. Sensors can
collect data on rainfall, humidity, temperature and soil content, as well as other
factors, that would help automate farming techniques. IoT is also instrumental in
automating irrigation systems.
In the consumer segment, for example, smart homes that are equipped with
smart thermostats, smart appliances and connected heating, lighting and
electronic devices can be controlled remotely via computers and smartphones.
Smart buildings can, for instance, reduce energy costs using sensors that detect
how many occupants are in a room. The temperature can adjust automatically --
for example, turning the air conditioner on if sensors detect a conference room is
full or turning the heat down if everyone in the office has gone home.
In a smart city, IoT sensors and deployments, such as smart streetlights and
smart meters, can help alleviate traffic, conserve energy, monitor and address
environmental concerns, and improve sanitation.
A home automation business can utilize IoT to monitor and manipulate
mechanical and electrical systems in a building.
IoT touches every industry, including businesses within healthcare, finance,
retail and manufacturing.
IoT devices tagged with sensors are used for tracking real time location of medical
equipment like wheelchairs, defibrillators, nebulizers, oxygen pumps and other
monitoring equipment.
We’ve now got technologies like bluetooth and GPS that have opened the avenues
for offering location-based data that can be adopted by platforms in hospitality
and hotel industries for delivering messages to customers at the times when they
have maximum relevance for the recipient.
This can include for instance, promoting gym services when the guests pass by
the gym or delivering SMS texts regarding restaurant menu items whenever the
guests are in close proximity, advertising gym services when they are near the
gym.
Wearable devices with sensors and software can collect and analyze user data,
sending messages to other technologies about the users with the aim of making
users' lives easier and more comfortable. Wearable devices are also used for
public safety during emergencies by providing optimized routes to a location.
BLOCKCHAIN
A blockchain is a distributed database that is shared among the nodes of a
computer network. As a database, a blockchain stores information
electronically in digital format. Blockchains are best known for their
crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a
secure and decentralized record of transactions. The innovation with a
blockchain is that it guarantees the fidelity and security of a record of data
and generates trust without the need for a trusted third party.
Decentralized blockchains are immutable, which means that the data
entered is irreversible. For Bitcoin, this means that transactions are
permanently recorded and viewable to anyone.
A blockchain collects information together in groups, known as blocks,
that hold sets of information. Blocks have certain storage capacities and,
when filled, are closed and linked to the previously filled block, forming a
chain of data known as the blockchain. All new information that follows
that freshly added block is compiled into a newly formed block that will
then also be added to the chain once filled. Different types of information
can be stored on a blockchain, but the most common use so far has been
as a ledger for transactions.
HOW DOES A
BLOCKCHAIN
WORK
The goal of blockchain is to allow digital information to be recorded and distributed, but
not edited. In this way, a blockchain is the foundation for immutable ledgers, or records of
transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also
known as a distributed ledger technology (DLT).

Transaction Process
Blockchain Decentralisation
Imagine that a company owns a server farm with 10,000 computers used to maintain a
database holding all of its client’s account information. This company owns a
warehouse building that contains all of these computers under one roof and has full
control of each of these computers and all of the information contained within them.
This, however, provides a single point of failure. What happens if the electricity at that
location goes out? What if its Internet connection is severed? What if it burns to the
ground? What if someone erases everything with a single keystroke? In any case, the
data is lost or corrupted.
What a blockchain does is to allow the data held in that database to be spread out
among several network nodes at various locations. This not only creates redundancy but
also maintains the fidelity of the data stored therein—if somebody tries to alter a record
at one instance of the database, the other nodes would not be altered. If one user
tampers with Bitcoin’s record of transactions, all other nodes would cross-reference
each other and easily pinpoint the node with the incorrect information. This system
helps to establish an exact and transparent order of events. This way, no single node
within the network can alter information held within it.
Because of this, the information and history (such as of transactions of a
cryptocurrency) are irreversible. Such a record could be a list of transactions (such as
with a cryptocurrency), but it also is possible for a blockchain to hold a variety of other
information like legal contracts, state identifications, or a company’s product inventory.
How is Blockchain secure?

Blockchain technology achieves decentralized security and trust in several ways. To

begin with, new blocks are always stored linearly and chronologically. That is, they are
always added to the “end” of the blockchain. After a block has been added to the end
of the blockchain, it is extremely difficult to go back and alter the contents of the block
unless a majority of the network has reached a consensus to do so. That’s because each
block contains its own hash, along with the hash of the block before it, as well as the
previously mentioned time stamp. Hash codes are created by a mathematical
function that turns digital information into a string of numbers and letters. If that
information is edited in any way, then the hash code changes as well.
Let’s say that a hacker, who also runs a node on a blockchain network, wants to alter a
blockchain and steal cryptocurrency from everyone else. If they were to alter their own
single copy, it would no longer align with everyone else’s copy. When everyone else
cross-references their copies against each other, they would see this one copy stand
out, and that hacker’s version of the chain would be cast away as illegitimate.
Succeeding with such a hack would require that the hacker simultaneously control and
alter 51% or more of the copies of the blockchain so that their new copy becomes the
majority copy and, thus, the agreed-upon chain. Such an attack would also require an
immense amount of money and resources, as they would need to redo all of the blocks
because they would now have different time stamps and hash codes.
Today, there are more than 10,000 other cryptocurrency systems running on
blockchain.
Some companies that have already incorporated blockchain include Walmart,
Pfizer, AIG, Siemens, Unilever, and a host of others. For example, IBM has
created its Food Trust blockchain to trace the journey that food products take to
get to their locations.
The food industry has seen countless outbreaks of hazardous materials being
accidentally introduced to foods. In the past, it has taken weeks to find the source
of these outbreaks or the cause of sickness from what people are eating. Using
blockchain gives brands the ability to track a food product’s route from its origin,
through each stop it makes, and finally, its delivery. If a food is found to be
contaminated, then it can be traced all the way back through each stop to its
origin. Not only that, but these companies can also now see everything else it may
have come in contact with, allowing the identification of the problem to occur far
sooner and potentially saving lives. This is one example of blockchain in practice,
but there are many other forms of blockchain implementation.
Advantages
• Improved accuracy by removing human involvement in verification
• Cost reductions by eliminating third-party verification
• Decentralization makes it harder to tamper with
• Transactions are secure, private, and efficient
• Transparent technology
• Provides a banking alternative and a way to secure personal information for citizens
of countries
Disadvantages
• Significant technology cost associated
Although blockchain can save users money on transaction fees, the technology is far
from free. For example, the PoW system which the bitcoin network uses to validate
transactions, consumes vast amounts of computational power. In the real world, the
power from the millions of computers on the bitcoin network is close to what Norway
and Ukraine consume annually.
• Low transactions per second
Bitcoin is a perfect case study for the possible inefficiencies of blockchain. Bitcoin’s
PoW system takes about 10 minutes to add a new block to the blockchain. At that rate,
it’s
estimated that the blockchain network can only manage about seven transactions per
second (TPS). Although other cryptocurrencies such as Ethereum perform better than
bitcoin. Legacy brand Visa, for context, can process 65,000 TPS.
• History of use in illegal activities, such as on the dark web
The most cited example of blockchain being used for illicit transactions is
probably the Silk Road, an online dark web illegal-drug and money laundering
marketplace operating from February 2011 until October 2013, when it was shut
down by the FBI. The dark web allows users to buy and sell illegal goods
without being tracked by using the Tor Browser and make illegal purchases in
Bitcoin or other cryptocurrencies.
• Regulation varies by jurisdiction and remains uncertain
Many in the crypto space have expressed concerns about government regulation
over cryptocurrencies. While it is getting increasingly difficult and near
impossible to end something like Bitcoin as its decentralized network grows,
governments could theoretically make it illegal to own cryptocurrencies or
participate in their networks.
• Data storage limitations
BLOCKCHAIN
APPLICATIONS
Healthcare
Healthcare providers can leverage blockchain to securely store their patients’ medical
records. When a medical record is generated and signed, it can be written into the
blockchain, which provides patients with the proof and confidence that the record cannot
be changed. These personal health records could be encoded and stored on the blockchain
with a private key, so that they are only accessible by certain individuals, thereby
ensuring privacy.

Property Records
Blockchain has the potential to eliminate the need for scanning documents and tracking
down physical files in a local recording office. If property ownership is stored and
verified on the blockchain, owners can trust that their deed is accurate and permanently
recorded.

Supply Chains
At IBM Food Trust, suppliers can use blockchain to record the origins of materials that
they have purchased. This would allow companies to verify the authenticity of not only
their products but also common labels such as “Organic,” “Local”.
As reported by Forbes, the food industry is increasingly adopting the use of blockchain to
track the path and safety of food throughout the farm-to-user journey.
Voting
Blockchain could be used to facilitate a modern voting system. Voting with blockchain
carries the potential to eliminate election fraud and boost voter turnout, as was tested in
the November 2018 midterm elections in West Virginia.
Using blockchain in this way would make votes nearly impossible to tamper with. The
blockchain protocol would also maintain transparency in the electoral process, reducing
the personnel needed to conduct an election and providing officials with nearly instant
results. This would eliminate the need for recounts or any real concern that fraud might
threaten the election.
A voting system could work such that each citizen of a country would be issued a single
cryptocurrency or token. Each candidate would then be given a specific wallet address,
and the voters would send their token or crypto to the address of whichever candidate for
whom they wish to vote. The transparent and traceable nature of blockchain would
eliminate both the need for human vote counting and the ability to tamper with physical
ballots.

To understand more watch the link below

https://www.simplilearn.com/tutorials/blockchain-tutorial/what-is-blockchain
Neuroscience
In
Business
Neuroscience is the scientific study of the nervous system. It is the
branch of biology which investigates every aspect of the brain and
nervous system. Neuroscience can help change how companies
think about new opportunities within the emerging field
of applied neuroscience.
Applied neuroscience is best described as the use of neuroscience
tools and insights to measure and understand human behavior.
Using applied neuroscience, leaders are able to generate data about
critical moments of decision making, and then use this data to
make confident choices that help to navigate the future of an
initiative.
These studies focus on using more mobile solutions such as EEG
(electroencephalograph) headsets, combined with eye-tracking
technology to capture precise data on how the brain reacts when
presented with certain scenarios. Because of this, applied
neuroscience is used primarily during one of two points in a new
project — either at the onset while defining the business problem,
A group of executives at IKEA began considering large-scale global challenges, such as
how population growth is putting increased demand on the production of food, energy, and
natural resources. With this in mind, they started asking what new sources of energy,
textiles, metals, woods, and plastics will be used to build future products for this growing
population. This inspired IKEA to turn these questions inward and begin asking some
radical, disruptive questions about IKEA’s business. For example, what if instead of just
selling home furnishings, IKEA sold solutions that helped resolve these resource tensions?
What if instead of only selling ovens, IKEA also sold customers renewable power? Even
more, what if IKEA created virtual power grids that leveraged blockchain to allow
customer communities to trade power with each other? The big question here is how
leaders driving forward new opportunities can uncover greater insights into their initiatives
and then use these insights to move forward confidently. IKEA employed applied
neuroscience to better understand this potential opportunity for the organization and gaze
into the unspoken, subconscious reactions of these potential opportunities. Using high-
resolution EEG headsets and eye trackers IKEA tested customers in Poland and the
Netherlands to understand their reactions to new business models based on this idea. For
example, the reaction to a new home solar offering that would enable customers to
generate their own renewable energy.
His team then correlated their reactions and comprehension levels with a behavioral
database to pinpoint which business models the customers were likely to accept, never
accept, or accept in a few years. Creating this type of behavioral map gave IKEA Group, a
more concrete way to understand the emotions and reactions that could drive one business
model over another.
Today, IKEA’s use of applied neuroscience to evaluate potential opportunities
has led to new business models and undertakings including a home solar
offering that enables customers to generate their own renewable energy, a shift
to renewable plastics, and innovations that provide customers at the IKEA
restaurant chain choices of healthier and more-sustainable food. It is risky to
stray from what is core to a business, but in today’s business climate where
industries and technologies are rapidly converging, this is at times exactly what
an organization needs in order.
The example of IKEA demonstrates the difference between an organization
talking about experimenting, and an organization truly experimenting in ways
that can dramatically impact the future through bringing an understanding to
how customers and employees think about transformative opportunities.