$414 Billion Alibaba’s Jack Ma: Blockchain Needs to Target Manufacturing Industr

[HappyWhiteHuman]

$414 Billion Alibaba’s Jack Ma: Blockchain Needs to Target Manufacturing Industry
At World AI Conference 2018, Jack Ma, the co-founder and chairman of $414 billion e-commerce conglomerate Alibaba, stated that artificial intelligence (AI), blockchain, and Internet of Things (IoT) can all become meaningless if they fail to target the manufacturing industry.

“AI, Blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of the society towards a greener and more inclusive direction,” Ma said.

Why Manufacturing?
The speech Ma provided at World AI Conference was not exclusive to blockchain technology but rather three technologies which most major conglomerates and governments consider to be the building blocks of the fourth industrial revolution.

The manufacturing industry of China alone is valued at around $3.1 trillion, with the US and other major economies operating multi-trillion dollar manufacturing sectors as well.

Over the past decade, especially in the past three years, the industry of smart manufacturing has grown exponentially, as conglomerates have begun to explore various innovative ways to cut back costs and improve the efficiency of the manufacturing process with emerging technologies.

As such, the manufacturing process of most hardware and machineries have drastically changed in recent years, with companies moving towards automation and the usage of robotics to eliminate manual errors and speed up existing operations.

Since the emergence of the concept of applying decentralized systems to a variety of industries in early 2016, many blockchain consortia and development firms have established their focus on utilizing the blockchain to rebuild supply chains.
https://www.ccn.com/414-billion-alibabas-jack-ma-blockchain-needs-to-target-manufacturing-industry/

[NeuroticFish]

“AI, Blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of the society towards a greener and more inclusive direction,” Ma said.

And he's right. Manufacturing and transportation are two very big fields the blockchain is suitable and can help a lot.
Just we talk here about private blockchains, so the companies will have to be open for such change.
I guess that there are startups trying to create blockchains for such use, but they may not be that visible here on bitcointalk.

[davis196]

There were some altcoins/tokens that were targeting the manifacturing/transportation industries.I remember that VECHAIN was one of them.The difficult part is that those industries aren't very open to innovations,beacuse of the high barrier of entry.Any blockchain innovation would require huge investments,in order to be implemented successfully.

[Kemarit]

“AI, Blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of the society towards a greener and more inclusive direction,” Ma said.

And he's right. Manufacturing and transportation are two very big fields the blockchain is suitable and can help a lot.
Just we talk here about private blockchains, so the companies will have to be open for such change.
I guess that there are startups trying to create blockchains for such use, but they may not be that visible here on bitcointalk.

Banks, manufacturing, supply chains nd transportation could be a big playing fields for Blockchain technology to really flourish and prove its strengths. They sectors can take advantage of it making private ledger that they alone can access and see real-time. And this companies knows that data is the king and their decisions are based on the data they gather. So its really important that all this information is stored somewhere and immutable so there's a lot of strategic business value implementing Blockchain.

[wuvdoll]

It is weird that a sector all by itself could be 3.1 trillion and still run the world.

Comparatively speaking crypto has hit 1 trillion mark during December if I am not wrong, that means with a little bit more push we could be as big as "manufactured in china" levels and lets be honest that is huge.

Blockchain can help manufacturing a bit but manufacturing consists of software that can use blockchain and manual labor as well with some other stuff all of which can't be blockchained at all, so blockchain can help a bit but it is a big beyond its capacity to help. There are some stuff that could be improved but not in a major way.

[dothebeats]

While this may be good for the overall manufacturing industry, once robots and other automation processes are deployed, it will replace human hands and would, by then, increase the rate of unemployment and other areas of the industry will be overcrowded and others will be left with no jobs. The idea is very unique and innovative but comes with the expense of other people's jobs. The blockchain technology would surely ignite the fourth industrial revolution, but what would happen to those affected by automation? Perhaps you can't really move forward without having some compromises along the way.

[el kaka22]

Manufacturing industry is huge and we all know with blockchain targeting this sector, it is really going to bring about great development to the manufacturing industry and the economy at large. He is totally right with saying that all the whole thing with Artificial intelligence, blockchain and internet of things becoming useless without being applied in the manufacturing industry, but I believe as time goes on, manufacturing industry will see the need to adopt these technologies and put them into practical use.

Manufacturing and transportation are two very big fields the blockchain is suitable and can help a lot.
Just we talk here about private blockchains, so the companies will have to be open for such change.
I guess that there are startups trying to create blockchains for such use, but they may not be that visible here on bitcointalk.

We have actually had some projects that have are targeting the manufacturing industry even though we all know that real life usage itself right now is really nothing but I do not expect things to just happen rapidly. It will take some time before we start seeing implementation of these things in real life practical usage and I sure understand the fact that this would be a very big industry to target and that would really bring about a huge development to the sector.