Role of Technology in the Sharing Economy
Author: Vignesh Srinivasan
A huge expansion due to the development of new technologies and social media with the practice of making money by sharing assets or skills will expand the economy.
What we are facing is a revolution of human behaviour & lifestyle change due to urbanisation, inflation, environmental awareness and minimal living.
Ownership and purchasing are no longer realistic options, millennial are demanding affordability and convenience as they will have more spending power and choice without having to committing to a full price and ownership.
It is more feasible by evolving technology, offering consumers ways to personalize their experience and choices to commit to less, own differently. Sharing is about the more effective use of a physical or intangible assets/service with less energy and materials are needed in our economy.
The collaborative economy is spreading in almost every sector. Although it is not easy to provide an exact taxonomy of such a young and rapidly evolving phenomenon.
Asiabots has developed A.I. and machine learning business solutions for cross-regional business clients, including major retailers and consumer products companies, private companies and government organizations. Through its Chatbot engine, companies can provide online customer service via a chat robot, which can intelligently respond to customer inquiries by mimicking human conversation. Utilizing natural language processing (NLP) to understand the user's intention and leveraging the power of machine learning and A.I., the chatbots can be trained to learn more about users and in turn to provide more personalized service.
In addition to Asiabots' A.I. support, SEII blockchain transaction platform, where smart contracts and the advanced ledger system will establish certain organizations as a secure personal business platform for everyone.
Latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, companies are actively pursuing for the application of blockchain technologies in their existing and to-be-acquired businesses, better enabling the general public to realize the beauty of resource sharing.