1 3 3 Blockchain and Analytics in the Cloud

Summary

This script highlights the transformative potential of blockchain, AI, and cloud technologies in modern industries. It discusses how blockchain enhances transparency, trust, and traceability, especially in multi-cloud environments, while AI leverages the data collected for decision-making. The integration of these technologies helps businesses, from reducing food waste in agriculture to enabling predictive maintenance in urban infrastructure. The cloud provides scalable and flexible computing resources that support the vast data processing needs, allowing businesses to improve operations, prevent failures, and enhance customer experience.

Takeaways

• 🔗 Blockchain is a secure, distributed technology that enhances transparency, traceability, and process efficiency in transactional applications.
• 🔒 Blockchain's immutability allows members to view only the relevant transactions, fostering trust and transparency.
• ☁️ 85% of businesses rely on multiple clouds, with over 70% using more than three clouds to meet their IT needs, driving demand for secure, cross-cloud data management.
• 🤖 Blockchain, AI, and cloud computing are interconnected, where blockchain provides a trusted source of truth, AI drives data analysis, and the cloud offers scalable, cost-effective computing power.
• 🌱 Blockchain on the cloud helps farmers reduce waste by tracking food supply chains, preventing unnecessary recalls, and preserving future food supplies.
• 📈 Analytics technologies on the cloud use flexibility and scalability to track trends, predict events, and deploy machine learning models for business growth.
• 🏙️ KONE leverages cloud and IoT technologies for data analytics and predictive maintenance of infrastructure, ensuring equipment reliability for over a billion people daily.
• ⚙️ KONE’s connected services use cloud-based event-driven architecture to process and analyze data streams, predicting equipment failures and enabling timely maintenance.
• 🌐 The IBM cloud supports KONE’s operations by providing storage, messaging, IoT services, and more, with plans to expand as their digital footprint grows.
• 💡 Cloud technology offers integrated environments that enable continuous improvement and accelerated business growth through data-driven insights and predictive models.

Q & A

What is blockchain, and how does it enhance transactional applications?

Blockchain is a secure, distributed, and open technology that enhances transactional applications by increasing speed, lowering costs, and building transparency and traceability. It provides an immutable network where members can only view transactions relevant to them.

How does the openness and diversity of a blockchain network impact trust and transparency?

The more open, diverse, and distributed a blockchain network is, the stronger the trust and transparency. This is because a widely distributed network helps secure data and transactions more effectively.

What challenges do businesses face with multi-cloud environments, and how does blockchain help?

Businesses using multi-cloud environments face challenges in moving applications and data across different clouds securely and efficiently. Blockchain helps by providing a decentralized and trusted source of truth, enabling secure, seamless application management across clouds.

What role do AI and IoT play in combination with blockchain and cloud technologies?

Blockchain provides a decentralized source of truth, while AI powers analytics and decision-making based on collected data. The cloud offers scalable, distributed computing resources to support the large volumes of data and the processing power required for AI and IoT systems.

How does blockchain improve transparency in AI decision-making?

Blockchain improves transparency in AI by recording the data and variables that feed into AI algorithms, making the decisions more understandable and trustworthy. This transparency fosters greater trust in AI-driven conclusions and decisions.

How is blockchain technology helping farmers reduce food waste during recalls?

Blockchain on the cloud enables farmers to track their products instantly, providing real-time information about the origin of goods. This traceability helps avoid unnecessary recalls, preventing waste by only removing affected products instead of all items.

What are some benefits of using cloud computing in analytics technologies?

Cloud computing provides flexibility, scalability, and the necessary computing resources to handle large volumes of data. It enables businesses to track trends, predict events, and deploy machine learning models for continuous improvement and accelerated growth.

How is Kona using cloud and IoT technologies for predictive maintenance?

Kona uses cloud and IoT technologies to collect data from elevators, escalators, and other devices. This data is analyzed to predict equipment failures, enabling proactive maintenance and ensuring smooth, uninterrupted service for their customers.

What is the concept behind Kona's 24/7 connected services?

Kona's 24/7 connected services monitor equipment in real-time using cloud-based analytics. The service ensures that equipment is connected to the cloud, enabling predictive maintenance and providing added value to customers through reduced downtime and enhanced reliability.

What cloud services does Kona currently use, and how are they expanding their digital footprint?

Kona uses a variety of cloud services, including storage, functions, messaging, and IoT services. As their digital footprint in the industry grows, they plan to expand their usage of these cloud-based solutions to provide even greater value to their customers.

Outlines

00:00

🔗 Blockchain Technology and Multi-Cloud Integration

This paragraph explains the role of blockchain technology as a secure, distributed, and open technology that fosters trust, transparency, and traceability in transactional applications. It highlights the immutable nature of blockchain, allowing network members to view only relevant transactions. As businesses increasingly adopt multi-cloud environments, there is a rising need to build and manage blockchain solutions across these clouds. Additionally, blockchain, AI, and IoT have a synergistic relationship, where blockchain provides decentralized trust, AI enables decision-making, and cloud infrastructure supports the massive data processing and analytics required. Together, these technologies can improve trust and transparency, especially in AI decision-making by recording the variables used in algorithms.

05:02

🚜 Blockchain in Agriculture: Reducing Food Waste with Transparency

This section focuses on how blockchain technology is helping farmers, particularly in reducing food waste during product recalls. The example of farmers in Salinas, California, where 60% of the nation's lettuce is grown, illustrates how blockchain on the IBM Cloud allows for instant traceability of food products. This helps prevent unnecessary waste of good food by quickly identifying affected products. The goal is to use technology to reduce waste and improve food security, as instant access to product information empowers farmers to act efficiently in the case of recalls.

📈 Analytics and Cloud Technologies: Driving Business Growth

This paragraph describes how cloud-based analytics technologies enable businesses to harness vast amounts of data for continuous improvement and growth. By utilizing the scalability and flexibility of the cloud, companies can track trends, build machine learning models, and analyze data in real-time. This integration allows for predictive insights and cognitive applications, contributing to better business decisions and accelerated development.

🏙️ IoT and Predictive Maintenance for City Infrastructure

In this section, the focus shifts to Kone, a company that manufactures elevators, escalators, and other urban infrastructure. They leverage cloud and IoT technologies to handle streams of data from their devices. With an event-driven architecture, Kone processes vast amounts of data for predictive maintenance, allowing them to anticipate equipment failures before they occur. This system forms the backbone of their '24/7 connected services,' providing customers with continuous monitoring and proactive maintenance to ensure equipment reliability.

☁️ Expanding Cloud Services for Future Growth

This final paragraph emphasizes Kone's broad utilization of IBM Cloud services, including storage, functions, messaging, and IoT capabilities. As Kone's digital footprint expands, the company expects its use of cloud technologies to grow, further enhancing its ability to collect, process, and leverage data for more effective and efficient operations.

Keywords

💡Blockchain

Blockchain is a secure and distributed open technology that ensures transparency, traceability, and immutability in transactions. In the video, it is described as a key tool for enhancing trust by allowing participants to view only relevant transactions. Blockchain plays a crucial role in reducing food waste and improving supply chain transparency by enabling farmers to track products instantly in case of recalls.

💡Cloud

Cloud technology refers to the provision of computing resources like storage, processing power, and networking over the internet. The video emphasizes how businesses rely on cloud services to meet IT needs and support technologies like blockchain and AI. The cloud allows for scalable, cost-efficient computing, enabling companies like Kone to process data from IoT devices and perform predictive maintenance.

💡AI (Artificial Intelligence)

Artificial Intelligence (AI) refers to the capability of machines to perform tasks that typically require human intelligence, such as decision-making and problem-solving. In the video, AI is connected with blockchain and cloud to form a 'three-way relationship' where AI processes and analyzes data, while blockchain provides transparency, and the cloud offers the necessary computational power.

💡Transparency

Transparency in the video is discussed as the ability to provide clear, accessible information about transactions or processes, particularly through blockchain. For example, in agriculture, blockchain ensures transparency in the supply chain, allowing consumers and producers to track products and reduce food waste by quickly identifying products subject to recalls.

💡Traceability

Traceability refers to the ability to track the origin and movement of products through a supply chain. In the context of the video, blockchain technology enables farmers to track food products instantly, ensuring that in the event of a recall, only the affected products are removed from shelves, thereby reducing waste and enhancing food safety.

💡Multi-cloud Environment

A multi-cloud environment refers to the use of multiple cloud computing services from different providers to meet business needs. The video highlights that over 70% of businesses use more than three clouds, and there is an emerging demand for seamlessly moving applications and data across these clouds, particularly for applications like blockchain.

💡Scalability

Scalability in the video refers to the ability of a system to handle increasing amounts of work or data by adding resources. The cloud provides the scalability needed for businesses like Kone, which processes large streams of data from IoT devices, ensuring that data can be stored, analyzed, and used for predictive maintenance efficiently.

💡Predictive Maintenance

Predictive maintenance is a technique that uses data analytics to predict when equipment failures might occur, allowing for preemptive repairs. In the video, Kone uses cloud-based analytics to collect data from its devices (elevators, escalators, etc.) and predict failures, reducing downtime and improving service quality for customers.

💡IoT (Internet of Things)

The Internet of Things (IoT) refers to the network of physical objects—devices, vehicles, appliances—that are embedded with sensors, software, and other technologies to exchange data. The video explains how IoT devices, such as those used by Kone, generate streams of data that are processed in the cloud to provide insights for predictive maintenance and improve infrastructure reliability.

💡Data Analytics

Data analytics involves examining large sets of data to uncover hidden patterns, correlations, and insights. In the video, it is a crucial component of AI and cloud-powered applications. For instance, Kone uses data analytics to process information from its IoT devices to predict maintenance needs, while social media trends are analyzed using cloud resources to predict future events.

Highlights

Blockchain is a secure, distributed, open technology that speeds up processes, lowers costs, and builds transparency and traceability in transactional applications.

Blockchain is an immutable network allowing members to view only the transactions relevant to them, enhancing trust.

85% of businesses today rely on multiple clouds for IT needs, with over 70% using more than three, creating a demand for cross-cloud applications and secure data movement.

Blockchain, AI, and cloud technology form a three-way relationship: blockchain provides decentralized truth, AI powers analytics, and the cloud provides scalable resources.

Blockchain makes AI more understandable by recording data and variables, improving trust and transparency in AI-driven decisions.

Blockchain on the cloud helps reduce food waste during recalls by offering traceability and transparency in the food supply chain.

Using IBM’s blockchain technology, farmers can track their products in seconds, reducing unnecessary waste during product recalls.

Instant access to product data allows farmers to remove only contaminated products during a recall, preserving food supplies.

Cloud-based analytics leverage flexibility and scalability to predict future events by tracking trends on social media and building machine learning models.

Kone, a manufacturer of elevators and escalators, uses cloud and IoT to gather data streams and analyze them for predictive maintenance.

Kone’s event-driven architecture processes large amounts of data, providing insights that allow predictive maintenance of equipment.

Kone’s 24/7 connected services promise predictive maintenance to ensure reliability and reduce downtime for city infrastructure used by over 1 billion people daily.

Kone uses almost all aspects of the IBM Cloud, including storage, functions, messaging, and IoT services to enhance its digital footprint.

Predictive maintenance allows Kone to accurately predict equipment failures, reducing downtime and providing greater reliability for customers.

Cloud services continue to grow in importance as industries seek scalable, cost-efficient solutions for processing massive amounts of data and integrating digital systems.

Transcripts

Blockchain is a secure distributed open technology that can help speed up

processes, lower costs, and build transparency and traceability in

transactional applications. It is an immutable Network allowing members to

view only those transactions that are relevant to them. The more open, diverse

and distributed the network the stronger the trust and transparency in the data

and transactions. 85% of businesses today rely on multiple clouds to meet their IT

needs with more than 70% using more than three these businesses need to be able

to move applications and data across multiple clouds easily and securely

leading to the emerging demand to build and manage business applications such as

blockchain for the multi cloud environment blockchain and AI much like

iot in AI powered by the cloud also have a three-way relationship where

blockchain technology provides the trusted decentralized source of truth AI

powers the analytics and decision making from the data collected and cloud

provides globally distributed scalable and cost-efficient computing resources

to support both the unprecedented amounts of data being collected and the

processing power required to draw insights from this data blockchain

serves to make AI more understandable by recording the data and variables that go

into a decision made in an AI algorithm leading to greater trust and

transparency in the conclusions and decisions made by these algorithms let's

look at how blockchain on the cloud is helping farmers reduce waste at times of

recall by building traceability and transparency in the food supply chain

for farmers here this is our life's work you know 60% of the nation's lettuce is

grown right here in Salinas when it comes down to how plants are looked at I

really relate back to how humans are raised and nurtured I want to make sure

that everything is safe before it leaves the ranch but when a recall happens

perfectly good food goes to waste you have to take all product off your shelf

no matter what age no matter where it came from and it takes resources to grow

those things then now we're actually eating into our future food supply but

we've gotta weigh around that watch-chain technology on the IBM cloud

we're able to track our product within seconds giving the consumers instant

access where the product came from in case there's any recall and so we don't

have to take all the food off the shelves

having that instant access allows you to reduce the waste there's a lot of

starving people in this world nicely what I want to be a generation that

fixes that it

analytics technologies on the cloud leverage the flexibility scalability and

computing resources available on the cloud from tracking trends on social

media to predict future events to analyzing data to build machine learning

models that can be deployed in cognitive applications cloud provides the

integrated environment that is required to leverage data for continuous

improvement and accelerated business growth let's look at how connais has

invested in cloud and iot technologies to power a data analytics and predictive

maintenance solution for city infrastructure used by more than 1

billion people daily at Kona we manufacture elevators escalators auto

walks and doors all of these devices are streams of data that we are collecting

in order to process those streams we need a scalable way of handle the amount

of data that is coming in and that's where cloud function fits in perfectly

we handle that data with event-driven architecture we use functions to persist

that data and to generate further events on that data that are then utilized and

consumed by applications and our customers and users in our analytics

platform we analyzed the set of data and we generate value predictive in a sense

that we can predict the failure rate to a certain percentage that is about to

happen in the future for our equipment and this allows us to perform predictive

maintenance and this is kind of the whole concept that we have behind our

24/7 connected services which is a promise to our customers that the

equipment is connected to the cloud and we are monitoring it and that's where we

generate the real a value for our customers from me mr. Spektor at the

moment we use almost all aspects of the IBM cloud we use storage from the cloud

we use function we use messaging services we

use IOT services so a number of services already in use and platform and that use

will only grow as our digital footprint in in the industry grows

you