Intellectual property law was not designed to protect ideas. It was designed to make investing in ideas worth the risk. The entire edifice of modern IP law rests on a single economic premise: that innovation is expensive and imitation is cheap, and therefore innovators need temporary monopoly rights to recoup their investment. This was a defensible premise in a world of pharmaceutical R&D, semiconductor fabrication, and Hollywood film production — industries where the upfront cost of creation is enormous and the marginal cost of copying is near-zero.

If you learn how to scale Artificial Intelligence (AI), you can create platforms that can be run by both tech and business users to optimize your processes. But before you head down that path, you need to ask yourself this question: How do the best companies get there?

In FMCG, F = Fast. Retailers need to adapt to rapid changes in consumer attitudes and the marketplace. Every aspect of retail operations has the potential to make or break the customer experience. AI technologies are breaking down barriers and making it imperative for retailers to adopt a globally competitive retail business model. The power of machine learning has made it possible for businesses to continuously scrutinize customer behaviour data and generate alerts when the time is right for the next best action.

Data Science or Analytics is the art of leveraging data streams to improve decision-making. It uses scientific methods, processes, algorithms, and systems to extract knowledge and insights from structured and unstructured data.

Your business is bound to have run-ins with defaulters. These defaults could be over late payment and non-payment issues and should be resolved quickly, as they can negatively impact your profit margin. At the same time, if you handle this situation without much tact, it could ruin the relationship with your customer.