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Redefine business through Industry Internet of Things

The fourth wave of the Industrial Revolution, Industry Internet of Things (IIoT) is not only redefining the businesses but also the complete ecosystem. McKinsey reported that B2B IIoT applications would contribute around 70% to the global estimated market of $11.1 trillion by 2025. The traditional business models will be no help to the existing business to gain a competitive advantage, and thus business leaders have to rethink and discover new ways, designs and business models embracing IIoT. Non-ownership business models provide an excellent opportunity to carve mutual benefits by sharing…

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South Leads the Nation in Small Business Job Creation for the Construction Industry

The South led the nation in small business job creation in the construction industry during the month of March, a recent report says. The region’s Small Business Jobs Index ( 100.24) is just above the break even growth marker of 100. The latest Paychex IHS Markit Small Business Employment Watch reports a 0.12 percent decrease to 99.65 this month nationally, or 1.07 percent year-over-year. Small Business Job Creation in Construction The Index has been below 100 for nine months with the West at 99.29, being the lowest in March. For…

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Uber, Lyft Hitting Los Angeles’ Taxi Industry Hard

Uber and Lyft are eviscerating the taxi industry in Los Angeles three years after they began operating in the city, officials say. Thanks to the ridesharing services, which enable independent drivers to offer rides via a smartphone application, “taxicab service demand indicators have dropped (total trips and dispatch trips) beginning in the second half of 2013 and increasing through 2015,” according to a report by Department of Transportation seen by AFP on Thursday. The number of taxi trips arranged in advance has dropped 42 percent while the total number of…

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