Look back through time – there are plenty of examples of businesses that missed out on huge opportunities. Think about when Kodak skipped the digital photography revolution, when Nokia failed to recognise the importance of smartphones, and when Ford got upstaged by General Motors (GM) back in the 1920s.

Bosch, a leading global technology company, has used its open-source-based Bosch IoT Suite to connect more than 10 million devices from various manufacturers, and is now working with partners to enable these devices to communicate and interact in secure ecosystems.

Royal Philips, a global leader in health technology, is partnering with the Saudi Telecom Company (STC), a leading operator in the Middle East, to rollout telehealth solutions powered by Artificial Intelligence (AI).

GE Healthcare, a subsidiary of General Electric, and Rockwell Automation are combining their automation, IT and single-use solution expertise to build bioprocessing operations for the digital age. Rockwell Automation is a leading company dedicated to industrial automation and information.

AS part of its strategy to accelerate the development of AI devices for the home, LG has developed its own artificial intelligence chip (AI Chip) with proprietary LG Neural Engine to better mimic the neural network of the human brain to greatly improve the processing of deep learning algorithms.