AI is an integral part of Digital Process Automation, and the potential of AI optimizations for on-chain (Blockchain transactions) and off-chain data (IoT, customer, etc.) are tremendous. AI is the nervous system that automates and drives end-to-end digitized value chains to successful completion. AI is an integral part of Digital Process Automation, and the potential of AI optimizations for on-chain (Blockchain transactions) and off-chain data (IoT, customer, etc.) are tremendous. AI is the nervous system of the value chains.
The digital era fosters challenging the hierarchical and centralized control-driven organizations with alternative more democratic robust models that empower the participants. Blockchain could become an enabler – as we shall see. This is very much a decentralization, peer-to-peer execution, and disintermediation trend – the core competencies of Blockchain. A digital and agile organization with empowerment can leverage the innovative talents of its employees and improve their morals. Blockchain within enterprises can also promote alternative flat organization patterns. Blockchain is a distributed and decentralized peer-to-peer database. Applications built on Blockchain can allow organizations to execute smart decisions.
Tasks or activities within an End-to-End Valuechain as well as entire chains of tasks or activities can leverage Blockchain. From financial transactions to contracts such as service levels or quality, End-to-end Valuechains can be modeled and automated with Blockchain transactions at specific steps. Similar to IoT/IIoT, the road to Blockchain success also runs through Digital Process Automation (DPA). Examples of Valuechains include support processes such as on-boarding an employee or IT helpdesk. Valuechains can also be mission critical. There are ample opportunities for leveraging Blockchain in Valuechains.
The most likely scenario of Blockchain for cultural change will be sub-organizations that leverage elements of a Decentralized Autonomous Organizations approach. The focus in this Part 2 is primarily on the cultural ramifications of a decentralized organization that can be realized through Blockchain (or rather deployed on a Blockchain) – including its governance policies, bylaws, voting, and overall operations. Even though the Blockchain revolution is in its infancy, the introduction of Smart Contracts executing on the Blockchain is a key enabler for substantive changes in organizational culture: towards autonomy, flat organizations and robust communities.
IoT/IIoT challenges include skills shortage, standards, security, uncertain ROI, etc. Success can be achieved with top-down business solutions that involve People, IoT/IIoT connected devices, trading partners, and enterprise applications, all collaborating and orchestrating their activities The collaborations are in the context of end-to-end value streams, that are modeled, automated and monitored through Digital Process Automation (DPA) for continuous improvement. IoT/IIoT constitutes a powerful extension the business processes that are supported through DPA.