I recently read an enlightening article that broadens the perspective on blockchain technology, moving beyond its common association with cryptocurrency. While blockchain indeed plays a significant role in the crypto industry, it's essentially a tech tool with potential applications that extend far beyond trading cryptocurrencies.

The article, featuring insights from 16 members of the Forbes Technology Council, highlights how blockchain technology can be leveraged to ensure ethical business practices and support humanitarian efforts. Here are a couple of key points that stood out:

1. Sending Funds for Humanitarian Relief: Blockchain-based ledgers can allow instant, global transfers of wealth without relying on local currencies or government stability. This can be particularly useful during crises when steep transfer fees and local inflationary instability can make it difficult to send value globally. For instance, the government of Ukraine accepted humanitarian donations via Ethereum, demonstrating the reliability of blockchain during a crisis.
2. Guaranteeing Contract Fulfillment: Blockchain can be used to manage the disbursements of funds. Smart contracts can lock up funds until the terms of the contract have been met. This not only gives vendors confidence in getting paid but also allows agencies to hold vendors accountable by not approving payment until the contract conditions have been met. Since it's a blockchain, the entire process is immutable and easily audited.

These examples illustrate the potential of blockchain technology in promoting better business practices and aiding humanitarian efforts. I believe this is an important conversation for us as we continue to explore and understand the potential of emerging technologies.

I encourage everyone to read more of the article and share their thoughts and ideas on how we might leverage blockchain technology beyond its traditional use in cryptocurrency.

Read the article: https://www.forbes.com/sites/forbes...for-business-and-social-good/?sh=79eea0c04abc

I recently came across an interesting article that I believe warrants a discussion. The article discusses the readiness of businesses for AI transformation. According to Cisco’s AI Readiness Index for 2023, only 14% of businesses worldwide are prepared to leverage and deploy artificial intelligence. This statistic is particularly concerning for European companies, who are struggling to train their employees on AI use and develop a clear strategy for responsible AI.

David Shrier, a futurist and leader of venture studio Visionary Futures LLC, says, “At the moment, businesses aren’t well-equipped to deal with AI. It’s not going as fast as it should.” Shrier suggests that businesses must build new skills, build processes to scale AI, and change their corporate governance to align AI ambition with practice.

So, what does this mean for us? Here are some points for us to consider:

1. Building Expertise: We need to ensure that our team, from the CEO to the employees, understands what AI can and can't do. This understanding will help us leverage AI effectively.
2. Establishing New Processes: We need to understand where our data goes when using AI tools and how to manage and prevent leaks and cybersecurity risks. This is particularly important as the article mentions employees using AI without their manager’s knowledge and even prompting tools like ChatGPT with confidential data.

I believe this is an important conversation for us to have as we continue to navigate the digital transformation. I encourage everyone to share their thoughts and ideas on how we can better prepare for the AI transformation.

Read the article: https://thenextweb.com/news/3-ways-businesses-should-prepare-ai-transformation