Charles Morey, CEO, MobilEyes Inc.
Tokenization isn’t just a game-changer for businesses aiming for a non-dilutive IPO. it also has the potential to revolutionize monetization.
Industries—from law enforcement to healthcare—are grappling with inefficiencies and rising costs. Emerging technologies, particularly tokenization and artificial intelligence (AI), offer transformative solutions. I have had the opportunity to work deeply with tokenization in my career, and based on my experience with this technology, I know that its applications are incredibly powerful. Tokenization and AI can improve accountability, streamline operations and mitigate risk, leading to unprecedented growth and efficiency.
As a leader in the tokenization space, I have conducted extensive research on this technology in various areas, particularly public safety. The trends we see today are just the beginning. Tokenization and AI are poised to reshape the future, driving innovation and creating new opportunities for business and society.
Law Enforcement and Public Safety
Law enforcement agencies face significant costs due to civil rights disputes and inadequate training programs. Analyzes by the Policing Project reveal that 25 of the largest U.S. police and sheriff’s departments paid about $3.2 billion in settlements over a decade. AI-powered accountability tools could help reduce these costs by providing incontrovertible evidence, potentially saving billions.
In addition, advances in automated data collection technology can ease the administrative burden. Research by Northwestern University shows that body-worn cameras (BWCs) are associated with a 35% lower likelihood of police use-of-force complaints, but a 14% higher likelihood of misconduct complaints, suggesting increased accountability. These technologies have the potential to revolutionize administrative processes and accountability in US law enforcement.
Healthcare
In healthcare, tokenization technology can streamline billing and reduce fraud. The US health care system is losing 68 billion dollars due to fraud. Automation and secure data storage can simplify compliance reporting, saving providers time and money.
THE National Health Care Anti-Fraud Association estimates that health care fraud results in tens of billions of dollars in economic losses annually. Conservatively, these losses represent about 3% of total health care spending. However, estimates from government and law enforcement agencies suggest the impact could be significantly higher, reaching as much as 10% of annual health care spending—the equivalent of over $300 billion. This evidence underscores the critical need for systemic reforms to strengthen safety and accountability in the health care system.
Retail
The retail industry is struggling with mounting losses 100 billion dollars per annum due to theft and fraud. Tokenization and tracking technologies can improve inventory tracking and reduce shrinkage. For example, retailers that integrate inventory systems with artificial intelligence are looking to massively reduce errors and theft incidents, saving millions annually.
Transportation and Logistics
Effective route optimization tools can deliver significant efficiency, enabling businesses to reduce mileage by up to 20% and double order capacity without expanding their fleet. These algorithms also have a profound impact on fuel consumption. Such developments can translate into significant cost savings and operational improvements, underscoring the value of route optimization in modern logistics.
Financial Services
The financial sector is heavily affected by fraud and inefficiencies in compliance reporting. Tokenization offers secure and transparent trading systems, reducing fraud losses.
In addition, compliance automation has allowed banks to reduce reporting costs, freeing up resources for innovation and customer service.
Getting started
For companies looking to adopt these technologies, start by assessing your current inefficiencies. Key questions include:
- Are there recurring bottlenecks in administrative or compliance processes?
- Does your organization have data transparency and security issues?
- Ready to integrate AI or tokenization into existing workflows?
The industries that benefit most from these innovations often have high manual workloads, complex regulatory environments, or significant cost liabilities. Businesses can start with small-scale pilot programs to measure impact and refine strategies.
Conclusion
Tokenization and AI technologies offer incredible potential to improve efficiency, accountability and cost savings across sectors. I have applied them in my practices to help businesses in many industries. These methods represent a new form of economic efficiency. Imagine the cost savings when prototypes go fully digital or our mail system becomes obsolete due to improved artificial intelligence and innovation.
This is not just about cost reduction. It’s about creating sustainable, innovative solutions that drive industries forward into a fairer, more efficient and cost-effective future.
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