Tech Talk

An artificial nose to showcase artificial intelligence companies developing a sense of smell
Tech Talk

Artificial Intelligence Is Developing a Sense of Smell

A crucial question Covid patients face: How to regain their sense of smell? Artificial intelligence companies may soon help with that.

It hasn’t been long since engineers enabled machines to see and make decisions based on their observations. Now, they can smell too. A Grenoble-based startup is making use of artificial intelligence combined with digital olfaction to mimic the human sense of smell and help customers convert odor data into actionable information. 

Digital Olfaction – How it Works

The human nose uses the odor molecules released by inorganic and organic objects to enable the sense of smell. The odor evaporates when the energy in objects increases, helping inhale and absorb them through the nasal cavity. 

Digital olfaction works in a similar fashion. First, it captures odor signatures using biosensors and then uses software solutions to analyze the given odor data and display the results. Artificial intelligence helps interpret the signatures and classify them based on a database of previously collected smells. 

In a recent interview, the company CEO said that in terms of performance and its ability to recognize different smells, digital olfaction is close to the way human noses work.

Practical Uses of Digital Olfaction

Odor analytics can help companies: 

  • Engineer the ideal “new car” smell for the automotive industry
  • Catch food spoilage in consumer appliances
  • Approve or reject raw material supply
  • Lower R&D time for new beverages and foods
  • Create health sensors and personal care devices that use odors to detect possible issues and alert users

One possible use of this technology is to assist in developing devices that help COVID-19 patients recover their sense of smell.

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By Jun 16, 2021
Digital transformation leading to the rise of tech companies
Tech Talk

Is Every Company a Technology Company Now?

Tech companies have a significant competitive advantage over their non-tech counterparts. As a result, digitization has become a vital part of business strategy.

Is every company a technology company now? According to a new report from Deloitte, they should be. The global consulting firm recently shared research revealing that digitally sound organizations have a significant edge over others. 

More digitally mature companies performed better than lower-maturity companies during the past pandemic year, according to Deloitte. They were about twice as likely to generate net profit margins and annual revenue growth significantly above their industry average, the report stated. 

Meanwhile, nearly two-thirds of respondents in the Deloitte study said that organizations that don’t digitize in the next five years will be “doomed.” 

Additional findings from the report: 

Going digital helped organizations deal with the pandemic

More than 75 percent of organizations said digitization helped them cope with many pandemic challenges. Such companies were twice as likely to cite digital transformation as their core strategy. 

Digitized organizations generate higher net profit and annual revenue 

Digitally-informed organizations have financially outperformed their competitors in almost every aspect. As a result, 69 percent of respondents plan to increase their investments in digital transformation from an average of US$10.9 million to US$12.6 million in the next 12 months. That is 0.6 percent of their annual turnover and 15 percent higher than the amount they’d spent last year. 

Today, digital is a vital part of competitive strategy. It helps organizations improve customer experiences, upgrade products and services, and promote agility in their business models. As a consequence, all strategies will be digital strategies in the future. Going digital will help organizations secure their future in a world of uncertainty. 

Read the complete survey

By Jun 11, 2021