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Real-Time is the New Online – Transforming Business in the IoT and AI Era

Jan 22, 2024

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Michael Gross Interview’s

In an enlightening discussion with Michael Gross, the manager of the entrepreneur house S-Hub PFALS in Germany, we delve into the transformative power of IoT, AI, and real-time data in business. As Thinkz.ai continues to pioneer in this field, the insights shared by Michael underscore the imminent shift from traditional online paradigms to a dynamic, real-time ecosystem.

The Essence of Digital Transformation

Michael highlights the essence of digital transformation, not as a shift from digital to analog, but as an evolution to Digital 2.0. This involves integrating IoT and AI to enhance business processes, particularly in sectors like hospitality and tourism, where real-time data significantly enriches customer experience.

Real-Time Data: Transforming the Hospitality Industry

Focusing on the hospitality industry in Bad Durkheim, known for its tourism, Michael illustrates how real-time data can revolutionize customer service. From checking hotel availability to finding open restaurants with available tables, real-time data bridges the gap between online information and immediate, actionable data.

The Role of AI in Ensuring Accuracy

Accuracy is key in real-time data utilization, and AI plays a crucial role in this. AI platforms can automatically update information, ensuring current and accurate data delivery without relying on manual input.

Enhancing Revenue and Customer Experience

Michael emphasizes that real-time data can significantly increase revenue for businesses like hotels by up to 30-40% through extra sales. This is achieved by linking services and offerings in real-time, providing customers with exactly what they need, when they need it.

Real-Time Data in Everyday Life

The scope of real-time data extends beyond business to everyday life activities, such as navigating a city, attending events, or seeking essential services. This integration elevates the overall experience for residents and tourists alike.

The Future of Business and Real-Time Data

As Michael points out, businesses that fail to adopt real-time data strategies risk falling behind. The future consumer, particularly the rising Generation Z, expects instant, accurate, and reliable information at their fingertips.

To conclude, Real-Time is the New Online is not just a statement; it’s the future of business and customer interaction.

As we explore this new landscape, Thinkz.ai stands at the forefront, ready to guide businesses through this transformative journey.

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