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  • How big data can make a big difference for your business

    How big data can make a big difference for your business

    Table of Contents

    Big Data and Analytics: What Are They?

    Who utilises the Analytics and Big Data?

    Impressive Advantages of Big Data and Analytics

     

    Although the idea of big data has been around for a while, the world of business has only lately been transformed by big data. The majority of firms are now aware of how to collect the vast amounts of data that continuously flow into their operations and use analytics to turn it into useful insights. Given its advantages, big data and analytics are now a must-have for any organisation intending to maximise its commercial potential.

    Businesses are able to collect information from customers at every stage of their journey. The use of mobile apps, online clicks, social media activities, and other data could be included in this information. Together, these factors create a data fingerprint that is fully individual to its owner. Expectations have increased as a result of the change in customer social norms.

    Big Data and Analytics: What Are They?

    A massive amount of data, including both organised and unorganised information from multiple sources, is referred to as “Big Data.” Traditional data processing software cannot acquire, handle, or process these datasets because of their size. Complex large data can be leveraged to solve previously intractable business issues.

    Big data is sometimes defined by the three Vs: data with a wide variety, coming in large volumes, and moving quickly. The information may originate from openly available resources such as websites, social media, the cloud, mobile apps, sensors, and other hardware. Businesses can see consumer information including purchase history, searches made or videos viewed, likes and hobbies, and more by accessing this data. Big data analytics examines data using analytical approaches to uncover information such as occult patterns, correlations, market trends, and consumer preferences. As a result, analytics support businesses in making wise decisions that result in effective operations, content customers, and higher profitability.

    Who utilises the Analytics and Big Data?

    Big Data and analytics are being used by large corporations throughout the world for immense success. Businesses of all sizes and in all sectors can profit from using big data successfully. Organisations are coming under more and more pressure from the competition to not only attract potential customers, but also to comprehend those clients’ demands in order to improve the client experience and forge enduring bonds. Customers interact with businesses through a variety of channels on a regular basis, so it is necessary to combine traditional and digital data sources to comprehend customer behaviour. Among the advantages of big data and analytics are improved decision-making, greater innovation, and product price optimisation.

    Impressive Advantages of Big Data and Analytics  

    1. Customer Acquisition and Retention

    The digital footprints of customers reveal a lot about their preferences, needs, purchase behavior, etc. Businesses can use big data to observe consumer patterns and then tailor their products and services according to specific customer needs. This goes a long way to ensure customer satisfaction, loyalty, and ultimately a considerable boost in sales.

    1. Risk and fraud mitigation:

    Security and fraud analytics work to prevent the exploitation of all material, financial, and intellectual assets by both internal and external threats. Optimal levels of fraud prevention and overall organisational security will be delivered by effective data and analytics capabilities: mechanisms that enable businesses to quickly identify potentially fraudulent activity, predict future activity, as well as identify and track perpetrators.

    1. Innovate

    Innovation relies on the insights you may uncover through big data analytics. Big data enables you to both innovate new products and services while updating ones that already exist. The vast amount of data gathered aids firms in determining what appeals to their target market. Product development can be aided by knowing what consumers think about your goods and services.

    The information can also be utilised to change corporate plans, enhance marketing methods, and boost employee and client satisfaction.

    1. Customization and Engagement

    Structured data is still a challenge for businesses, and they now need to be particularly responsive to deal with the volatility brought on by customers interacting with digital technology. Advanced analytics are the only way to respond quickly and provide customers a sense of personal value. Big data offers the chance for interactions to be tailored to the personality of the client by comprehending their attitudes and taking into account aspects like real-time location to help deliver personalization in a multi-channel service environment.

    1. Enhanced Productivity

    Big data tools have the potential to increase operational effectiveness. Your interactions with consumers and their insightful feedback enable you to gather significant volumes of priceless customer data. Analytics can then uncover significant trends in the data to produce products that are unique to the customer. In order to provide employees more time to work on activities demanding cognitive skills, the tools can automate repetitive processes and tasks.

    1. Promoting & Boosting Customer Experience

    In order to meet customer expectations and achieve operational excellence, business processes must be designed, controlled, and optimised using analytics. This ensures efficiency and effectiveness.

    Advanced analytical methods can be used to increase the productivity and efficiency of field operations as well as organise a workforce in accordance with consumer demand and company needs. The most effective use of data and analytics will also guarantee that ongoing continuous improvements are implemented as a result of end-to-end visibility and monitoring of important operational parameters.

  • The new era of energy industry empowered by technology

    The new era of energy industry empowered by technology

     

    Table of Content

    • Introduction
    • Innovation & Changes
    • Technical Empowerment
    • Renewable Resources

    An era of change

    The energy industry is going through a significant technological transition that will push the limits of the traditional energy delivery systems. In place of conventional fossil fuels, the new wave of technology is offering workable solutions that can maximise how much we use natural resources.

    These innovative options offer intelligent and data-driven solutions that encourage the development of smart infrastructure. These solutions include built-in digital intelligence that is changing how energy is produced, distributed, managed, and stored.

    The establishment of a new consumer model known as “Prosumer”—which depicts a situation where customers produce and consume energy while living outside of direct subsidy—came about as a result of consideration over efficient energy usage and consumer habits.

    The innovation that prompted the advent of energy 4.0

    The energy sector adopted rising tech trends including Internet of Things (IoT), Big Data, Blockchain, Machine Learning, Cloud Computing, and the Digital Twin technology without hesitation after realising the power of cutting-edge technology in other industries.

    The ways in which energy and utility businesses conduct business, connect with their customer bases, and engage with them have all being reinvented by the aforementioned technology. Technically speaking, it has greatly improved operation flow, performance optimisation, and the development of smart grids, better managed renewable energy sources, and cogently distributed power. These technological advancements have consequently led to a fresh round of ideas for integrating technology and the systems that enable it into (new) business models and strategies.

    “Simultaneously, hardware manufacturers and software development companies have been gathering experience in creating and integrating business-driven solutions with huge corporate systems, with an emphasis on internal reliability and ecological safety. As of now, with costs decreasing and technologies growing at an exponential pace, digitalization presents opportunities for Energy 4.0 companies to establish new business models and sustainable strategies of producing and delivering energy” – is stated in a research study conducted by MobiDev.

    The technological empowerment within the industry

    The idea of IoT and its capabilities have been extensively debated during the last ten years. The physical environment may be integrated with computer systems thanks to this intelligent “network of physical devices” that includes sensors, electronics, actuators, and connection resources.

    Energy 4.0 is the adoption of technologies like big data, artificial intelligence, and machine learning to take advantage of sensor data, automation, and machine-to-machine (M2M) communication to enhance operational performance. The industry is well on its way to transforming its operations into a global network of linked, standalone devices that are all delivering digital data to a platform that can gather, process, and share it in real time.

    Transparency within a platform that executes and records transactions is one of a ledger technology’s most potent advantages. Given how frequently assets change hands before a settlement is made, it is also useful for tracking ownership. As all parties are using the same platform, blockchain technology enables transactions like energy trading to be recorded and settled at the minute, without the need for an intermediary and with little to no requirement for reconciliation.

    The use of digital twins is expanding quickly and is becoming increasingly popular as an innovation trend. A digital twin is a depiction of a real-world thing or process that mimics it digitally without really replacing it. The digital twin allows for real-time KPI monitoring by utilising the data collected by an IoT system connected to its physical twin.

    Future energy will be renewable

    We are well on our way to a future where social innovation will integrate renewables into smart grids and produce clean and dependable energy sources, made possible by the digital transformation of the energy sector.

    Consumers are increasingly favouring renewable energy sources, which encourages the energy business to invest in more environmentally friendly technology. Greater opportunities are presented by digital innovation for businesses, consumers, and society as a whole since it motivates them to engage in environmentally friendly energy solutions that lower prices and give them more control over their energy use.

     

     

  • Need your business to thrive? Learn about key benefits of Data Analysis

    Need your business to thrive? Learn about key benefits of Data Analysis

    Today’s global marketplaces revolve on data, making sense of that data is essential to a company’s success. Failing to do so can result in a company falling behind.

    On its own, raw data doesn’t have much value. To leverage data to their advantage, businesses must apply data analytics, a discipline that systematically examines data in order to discover insights, patterns, and trends. Most businesses are aware of the potential rewards of investing in big data analytics, which promise to increase productivity, reduce costs, and improve decision-making. A recent survey by Micro Strategy found that businesses all across the world use their data for:

    • According to 90% of the business users who took part, their organization’s digital transformation strategies revolve around data and analytics
    • To increase their operations’ cost-effectiveness and process efficiency by up to 60%
    • 57% of businesses say they use data analytics to inform strategy and transformation
    • 52% of businesses use business analytics to track and enhance their financial performance

    What is Data Analysis?

    As a broad phrase, the processing of unstructured data to discover business insights is referred to as data analytics. It makes use of a variety of methods, procedures, statistics, and models. By definition, it is essentially a procedure for looking into raw data in order to derive significant insights. However, the development of AI and ML has caused the area of data analytics to advance at a rapid rate, reaching new heights.

    Usually, the purpose of data analytics is to give a business operational insights. This procedure entails reviewing historical data before applying the lessons discovered within to address the challenging business issues of the present.

    Despite the fact that big data analytics delivers value in a variety of ways, the following are some of its main advantages:

    • Quicker and wiser decision-making: businesses may quickly analyse massive amounts of data and come to wise judgements.
    • Cost savings: using big data technology, businesses can find better methods to conduct their operations and offer a cost-effective data storage solution.
    • A deeper comprehension of customer’s needs: big data reveals insights that assist businesses in identifying customer requirements and assessing satisfaction. This provides businesses with the knowledge they require to create long-lasting client relationships and provide higher-quality goods and services.

    The current state of Data Analysis & Business Intelligence

    For businesses to succeed in the digital economy, data is becoming more and more important. Up to 80% of businesses rely on data for a variety of operations, including product management, fraud detection, finance, human resources, and manufacturing. Data dashboards and visualisations are common in the modern workplace, enabling users to quickly follow performance measures using pre-built reports and filters.

    Organisations could find a wealth of potential hidden in their current systems with the use of data integration technologies. There is a lot of friction in analytics right now. Spreadsheets are frequently used by data workers, who typically utilise four to seven different applications to manage data. This takes a lot of time and increases the risk of errors and data compliance problems. Organisations must find a solution that unifies all data-related activities into a single platform, provides end-to-end data protection and traceability, and is simple for employees to use if they are to reap the greatest benefits from big data.

    How to select right data analytic tools for your business?

    Due to innovative methods like machine learning algorithms, the field of data analytics is expanding to unprecedented heights. Four categories of business analytics currently are:

    • Descriptive analytics
    • Diagnostic analytics
    • Predictive analytics
    • Prescriptive analytics

    It’s challenging to compile a comprehensive list of selection criteria for big data because it applies to such a wide range of use cases, applications, and industries. Build your toolset around the main objectives by focusing on the few business issues or opportunities that will have the most impact, such as real-time asset monitoring or a deeper comprehension of what your customers want.

    Big Data integration tools assist businesses in dismantling data ecosystem silos. When working with data gathered from a variety of IoT endpoints, apps, and data kinds, they are an essential tool for managing and storing data clusters. Although data integration solutions occasionally include stream analytics functionality, they are typically more appropriate for data management.

    It is possible to transform new data into actions. Partner with us to know more about best practices in data analysis. To contact us visit SCS Tech India.

  • Ultimate guide to RPA and the industry response

    Ultimate guide to RPA and the industry response

    Robotic process automation, or RPA, is a crucial component of the digital transformation for corporations and business organisations regardless of their location or function. To comprehend why automation is so beneficial, let’s delve into this brand-new universe.

    • RPA Services: What Are They?
    • How do RPA Services function?
    • RPA – the best solutions for enterprises
    • RPA process benefits

    How do RPA Services work?

    Robotic process automation, or RPA, is a technology that enables businesses to automate some repetitive processes.

    RPA software uses a mix of cognitive processes, automation, and modern technologies (such machine learning and automation). It can be used to carry out straightforward operations like sending an email automatically as well as sophisticated ones that thousands of bots can carry out simultaneously.

    Robotic process automation as a service, or RPAaaS, is a cloud-based, outsourced service that involves the deployment of software robots to handle such repetitive operations without any input from the clients.

    According to recent data on the status of RPA implementation, 78% of those who have previously done so anticipate much more investment in RPA over the following three years. There is obviously a lot to do, and there is a big demand. Let’s examine why.

    How are RPA Services implemented?

    RPA services significantly influence how businesses change and grow. Software robots can navigate systems, identify data, and carry out a wide range of tasks that resemble those carried out by humans. They can complete jobs more quickly and reliably than humans since they are robots, which also don’t make mistakes, get weary, or need breaks. They don’t get side tracked by social media, and they don’t require extra encouragement to get things done.

    RPA technology boosts efficiency, productivity, and accuracy in many corporate operations thanks to these benefits. This is why it became so important for organisations that want to grow, expand, or improve their effectiveness.

    Benefits of RPA processes for businesses

    It is far preferable to adapt RPA and use it in daily work than to hire new workers to perform simple tasks or to assign highly competent employees to repetitive activities and so waste their expertise. Employees who are relieved of monotonous and simple tasks can concentrate on bringing innovation to the company and coming up with fresh ideas to increase its success.

    The main benefits of RPA processes for enterprises include:

    • increase in effectiveness
    • efficiency
    • productivity
    • client satisfaction
    • cost savings
    • revenue growth
    • work quality and quantity improvement
    • improved compliance
    • faster pace of digitalization are all desirable outcomes

    The best solutions for large enterprises involves RPA

    53% of various firms use RPA services internationally, according to research. Depending on their demands, size, and industry, it is predicted that almost all businesses will use some form of automation within the next five years.

    Interested in learning more RPA?

    Consider putting it into practise in your business to advance it. Get in contact with our experts; we’d be pleased to assist you!

     

  • An introduction to Blockchain Technology and its potential uses

    An introduction to Blockchain Technology and its potential uses

    Even while blockchain technology is still in its nascent stages today, it is finding increasing use in important industries outside of the realm of digital currencies. Through the upkeep of immutable distributed ledgers in thousands of nodes, blockchain is the primary technology utilised to produce the digital currency, Bitcoin. The 21st century will see a huge impact from this disruptive technology on institutional operations, company operations, education, and our daily lives.  It has the power to alter the current Internet from “The Internet of Information Sharing” to “The Internet of Value Exchange.”

    Blockchain technology is anticipated to fundamentally alter how business, industry, and education operate while also accelerating the worldwide transition to a knowledge-based economy. This ground-breaking technology has numerous potential uses because of its immutability, transparency, and integrity for all transactions carried out in a blockchain network.

    The following structure illustrates a sample blockchain transaction flow. A peer-to-peer blockchain network is used by User A to start a transaction with User B. The network uses a cryptographic proof of identification (a set of public and private keys) to specifically identify users A and B. The transaction will then be published to the blockchain network’s memory pool while awaiting transaction validation and verification. Reaching consensus is the process of getting a predetermined number of approved nodes to create a new block. Following a consensus, a brand-new “block” is created across the entire blockchain network, and each node updates its individual copy of the blockchain ledger. All of the transactions that took place during this time are contained in this block.

    Advantages of blockchain technology

    Reliability: because blockchain networks are decentralised, the databases of all transaction records have changed from being closed, centralised ledgers maintained by a small number of recognised institutions to being open, distributed ledgers maintained by tens of thousands of nodes.

    Trust: blockchain network also decentralises trust. With organised ledgers, blockchain networks serve as new trust bearers. A group of tamper-proof nodes form a network that shares these ledgers.

    Security: the one-way hash function, a mathematical operation that transforms a variable-length input text into a fixed-length binary sequence, is used by the blockchain network. There is no obvious connection between the input and the output.

    Efficiency: every piece of data is automatically put through pre-defined processes. Blockchain technology can therefore both dramatically lower labour costs and increase productivity. Blockchain technology may hasten the clearing and settlement of some financial transactions, resulting in a quicker and more effective reconciliation procedure.

    Applications using blockchain technology

    • Blockchain offers a number of advantages in the financial and banking sectors in terms of improved record-keeping, security, and transparency. It makes it the ideal option for banking needs like fraud protection, client onboarding, and anti-money laundering.
    • By 2025, the worldwide blockchain market for healthcare is expected to reach $5.61 billion. Using blockchain technology could help resolve expensive and urgent issues in the healthcare sector. Such as inconsistent records, patient data loss or theft, banking information, and test results.
    • Blockchain can be a great solution for the insurance industry and aid in the reduction of underwriting, the identification of fraud, and the enhancement of cyber insurance plans. By 2023, the global insurance blockchain industry might reach $1.39 billion.
    • Businesses that spend a lot of money protecting themselves against breaches are also concerned about cyber security, not only SMEs. Blockchain system nodes automatically compare the data and warn any information that is falsified.
    • Blockchain technology is being used in education by some colleges and institutions, and the majority of them do so to support academic degree management and assumptive evaluation for learning outcomes.
    • Supply chain management can be challenging and involves a lot of data. Data storage using blockchain-based systems would guarantee quick access and strong security because altering the data would be impossible without reporting it as a result.
  • IoT the next big thing or already is? In perspective of Industry 4.O

    IoT the next big thing or already is? In perspective of Industry 4.O

    One of the key technology foundations of Industry 4.0 is the Internet of Things. The ability of machines to independently communicate with one another allows them to solve issues that would previously require human intervention.

    It is anticipated that the use of industrial IoT for predictive maintenance and a rise in the number of data centres would present sizable market expansion prospects. Additionally, the government’s promotion of industrial automation and the demand for high productivity & efficiency are the main factors propelling the growth of this market.

    The majority of firms have acquired a high degree of IoT maturity, and through 2024, enterprises from all industry sectors intend to invest an average of $2.8 million in IoT. Businesses anticipate spending 10% of their IT budgets on IoT initiatives during the next three years, up from the average 7% of an organization’s IT expenditure between 2017 and 2020.

    However, there are observable differences in the expected IoT investment levels across various business sectors. Over the next three years, oil and gas companies plan to invest the most in IoT ($3.2 million on average), followed by electrical utilities ($3.1 million), transportation and logistics ($3 million), mining operators ($2.7 million), and finally, agricultural industries ($2 million).

    Latest research conducted by Inmarsat Enterprise reveals IoT is now the primary Industry 4.0 technology in which companies are investing over the next three years. IoT is becoming a company investment priority, and businesses expect it to save them an increasing amount of money in the next years. This shows how well-established an industry IoT has become globally. Despite the fact that IoT adoption is already accelerating quickly, Covid-19 has stressed the value of Industry 4.0 technologies like IoT for maintaining business continuity. Companies who create digital twins of their supply chains and share data are reaping the rewards as the world’s manufacturing and supply chains become more integrated and digitalized.

    In the Indian Landscape –

    India is a hive of IoT provider potential, and the nation’s IoT ecosystem is anticipated to keep expanding to generate entirely new sources of income. To stay ahead of the curve and meet the growing demand for IoT solutions, vendors should collaborate with other members of the value ecosystem to take advantage of cutting-edge technologies like Big Data analytics, AI and machine learning, new connectivity protocols, and blockchain.

    Private long-term evolution for improved security: Indian tech organizations should concentrate on promoting the advantages of P-LTE to raise awareness and approach businesses with solutions tailored to specific verticals.

    Real-time operational intelligence for improved risk and compliance management: To deliver brand-neutral IoT solutions, suppliers must create hardware and software that is interoperable and pre-integrated.

    Visual matrix solutions for better CX: IoT providers should collaborate with OEMs of visual surveillance systems to offer in-store, real-time consumer analytics in addition to core security solutions.

    IoT as a Service for Smart Diagnostic Laboratories: By starting with open source IoT solutions, expenses can be significantly cut, which will promote the use of smart laboratories as a service.

    By using our global knowledge and top-class IoT solutions, we can assist your business with our digital transformation and automation services. If you’re looking for understanding partners which can deliver results, contact us now.

  • How technology is making our everyday better

    How technology is making our everyday better

    All technologies that have emerged and thrived thus far have been invented to meet the needs of society, as it is rightly said that necessity is the mother of invention. Without a doubt, technology has made our lives easier over the last two decades. Technology has made our lives better in a number of ways, from communicating with people around the world from the convenience of your home to operating a full-fledged business without a physical site.

    We live in a capitalist society, which means that many technological advances are made by businesses looking to improve their products/services or their ability to market their offerings. Over the years, new technology has emerged with the goal of making business operations more beneficial and effective.

    Business Efficiency

    The business world is being swept away by a tidal wave of exponential technological progress. Today’s marketplace provides numerous opportunities to improve, adapt, and advance using available technology. The use of business analytics has proven to be beneficial in improving the customer experience. Such technology-powered business tools have propelled various aspects of business to new heights. Personalized messaging and user behavior analysis have also assisted businesses in establishing a fruitful presence in the market.

    Fast track Communication

    The only certain answer to how technology has improved our lives is that it has changed the way we communicate with one another dramatically. It has resulted in the development of several modes of electronic communication, including smartphone communication and social media. Now that civilization has advanced, instantaneous, error-free communication is widely accessible. Speed is undeniably the most significant advancement that technology has made in communication. We can now converse quickly and effortlessly from the convenience of our homes.

    Advanced Lifestyle

    Throughout history, societies have been reshaped by technology. Technology has had a significant impact on how humans behave and operate in the world. Technological advancements all around us are ongoing. New innovations are appearing, and they are undoubtedly influencing our way of life. Because of technological advancements, our lives are now vastly different from those of previous generations Transportation, agriculture, and education are just a few areas where technology is present and having an impact. On the other hand, the Internet of Things (IoT) has greatly simplified our lives. Through the medium of IoT, smart homes and advanced electronic gadgets have significantly improved our daily routines. It has simplified many aspects of life.

    Superior Trade

    Transactions are much simpler and more efficient than they were previously. On the consumer side, innovations such as the credit card and the rise of e-commerce have made it easier than ever for businesses to sell goods and services to customers at their leisure. However, transactions on a large scale are much easier on a B2B level. Foreign transactions like these are now much easier – and they may become even easier as blockchain, an emerging technology, gains traction.

    Information Accessibility

    Technology has had a significant impact on how we transfer and access information. Nowadays, we can get any information we want at the touch of a button. We are constantly searching the internet for answers and gathering information. If one learns how to surf more skillfully, technology is readily available to us, both in terms of authenticity and relevancy.

    We’ve gotten to the point where it’s difficult to imagine life without technology. The quality of life for people has considerably increased. Technology has altered our behavior and operations by infiltrating every aspect of our lives. Technology has made our lives better in a number of areas, including networking, healthcare, and communication.

  • All you should know about Smart Spaces and its future impact

    All you should know about Smart Spaces and its future impact

    What are Smart Spaces?   

    Smart spaces are facilities or public areas outfitted with sensors to collect data that can be used to generate insights about its environmental conditions, the services it provides, and how occupants interact with their environment. These smart spaces insights can be captured in real-time and from historical data, and then used in improving safety, operations, and the experiences of the people using the space.

    When enabled by technologies like IoT and 5G wireless, which are now capable of monitoring municipal operations using real-time data to bring a level of service to citizens with uncharacteristic efficiency, smart space paradigms are also shared across regions, extending over cities.

    Use of Technology in creating smart spaces

    We can classify smart enabling technologies according to their purpose using this multi-layered approach to smart space environments (virtual, physical, and human levels).

    Virtual Computing Environment — This layer gives smart devices access to private network services or the internet, which enables them to connect to other components of the distributed systems that run the smart space environment.

    Physical Environment – The most diverse layer of smart spaces is the physical environment layer, which contains the embedded sensors, microprocessors, tracking tags, and other tangible components of the smart space.

    Human Environment — This layer is made up of gadgets that people use in conjunction with their environment, such as pacemakers, wearable smart devices, and smartphones. This means that humans can develop smart space environments using cell towers, cell networks, and smartphones to create a virtual, physical, and human environment that can be thought of as a large area smart space, similar to how route-planning apps can be used to create smart spaces.

    Benefits of Smart Spaces

    The deep integration of these technologies into our daily lives demonstrates how successfully they have achieved their general goals of enhancing efficiency, security, and safety.

    Any measurable aspect of efficiency is improved by smart space technology. Smart technology often focuses on lowering overall operational expenses of buildings by avoiding resource and utility waste. Meters for electricity or water may readily be equipped with sensors, making them prime candidates for smart monitoring.

    In places where there are risks of danger or accidents, smart spaces promote safety and risk mitigation. Smart technology, such as the use of intelligent robots in industrial applications, can replace human workers performing dangerous activities. By replacing humans with these robots in numerous tedious and repetitive jobs like moving inventory palettes, productivity has grown.

    Smart environments improve user experience by automating many of our daily “clerical” duties, including checking the lighting, that were previously performed by humans. Using smart space technology is now driven by the desire to enhance the experience of occupants within a space for business purposes. These buildings are becoming more collaborative, informative, and effective thanks to smart office technologies that can connect remote workers, smart conference rooms, scheduling systems, and sensors covering every component of the facility. Several manufacturers advertise a sizable central wall display that serves as a focal point for business activities and shows real-time information. For example, a hospital could use this display to show which doctors are present, which operations are planned, or which rooms are filled.

    Common technologies used in these are:

    • Artificial Intelligence and Machine Learning
    • Computer Vision
    • Speech Recognition
    • Blockchain
    • Cloud computing / Distributed systems
    • Wireless Connectivity
    • Motion and proximity sensors
    • Climate sensors (temperature, humidity, pressure)
    • Accelerometers and gyroscopic sensors
    • Optical and thermal sensors
    • Gas and level sensors
    • RFID tagging
    • Microprocessors
    • Smartphones, tablets, watches
    • Closed-loop insulin delivery systems
    • Ingestible sensors
    • Smart inhalers
    • Smart pacemakers

     

  • Facts about Artificial Intelligence you should know

    Facts about Artificial Intelligence you should know

    The adoption of intelligent, data-driven technology in enterprise applications is accelerating at an unprecedented rate in the digital age, challenging established workplace practices and fundamentally altering the business landscape.

    Artificial Intelligence (AI) and its subset, Machine Learning, are at the forefront of all disruptive technologies (ML). Business experts concur that artificial intelligence and machine learning are the two main forces behind the ‘Industry 4.0’ transformation.

    AI-enabled devices are everywhere. Nearly 77% of devices today use AI technology in one form or another. Virtual assistants, chat-bots, face recognition technology, voice search, and self-driving cars are just a few examples of services and solutions that use AI. These technologies are no longer the stuff of science fiction. They presently exist and have an impact on all facets of contemporary life.

    Things which will matter this year and onward

    1. Big Companies Will Most Likely Implement an AI Strategy

    Stats show that 75% of top CEOs think that AI will help their company expand and gain a competitive edge.

    1. The majority of consumers believe AI will enhance their lives

    In a poll conducted by Strategy Analytics, respondents from India, China, Western Europe, and the United States made up 41% of those who believed that new AI technology would improve their lives.

    1. Most people do not realize that they use AI platforms

    According to a survey, only 34% of consumers are aware that they are directly interacting with AI, which is one of the odd truths about artificial intelligence. But when asked about the technology they use, 84% admitted to using at least one AI-powered product or service.

    1. The voice-search function is becoming popular

    The AI-powered voice-search functionality on smartphones, smart speakers, and other voice-enabled devices is becoming more and more commonplace as a result of breakthroughs in speech recognition technology. According to recent statistics, 41% of smart device users use the voice-search function at least once every day.

    1. The future of AI automation is asset maintenance

    The most common AI use cases in the manufacturing industry, include predicting when machines are likely to break down and suggesting the optimum time to undertake maintenance. According to the survey, roughly 29% of AI applications in the manufacturing sector are used to maintain operational production assets.

    1. AI adoption helps businesses increase earnings

    AI continues the trend of technology generating returns. In a latest finding there has been a nearly 25% year-over-year growth in the use of AI in routine company operations, with a significant increase from the previous year in the number of businesses employing AI in numerous functional areas.

    1. Chat-bot use is growing already

    In a poll conducted of consumers around the world, 38% of respondents indicated that they had a favorable opinion of chat-bots. Only 11 percent of end customers had negative opinions, leaving 51 percent of them neutral.

    Research demonstrates that businesses now employ AI more frequently than not, suggesting that the technology has advanced to another level in the commercial world. Along with it, the need to expand AI among those just beginning their adoption journeys has increased. However, it also points to a way for lagging organizations to catch up, even while they show that other companies are further forward in comprehending the impact of AI.

  • Best security tips to avoid a cyber breach

    Best security tips to avoid a cyber breach

    Preventing cyber data breaches is the best defense against the nightmare and expense that comes with them. Nevertheless, you must first identify them in order to be able to stop a data breach. The sorts and costs of data breaches you could experience as a small- to medium-sized business owner are described below, along with tips on how to avoid them.

    When hackers gain access to data and sensitive information, data breaches occur. These breaches are very expensive. According to a data report, the average cost of a data breach is around $3.86 million that too in addition to the irreparable harm to an organization’s reputation. It costs time as well. The identifying of the cause and reprimanding it usually takes up to 280 days.

    You can use a variety of high-level security techniques, such as AI and prepared incident response teams, to stop a data breach. Let’s dig deep into that!

    Limit access to your valuable data –

    Every employee used to have access to all of the files on their computer back in the day. Companies today are discovering the hard way how important it is to restrict access to their most important data. A mailroom employee has no need to see a customer’s financial information, after all. By limiting who is permitted to read specific papers, you reduce the number of workers who might unintentionally click on a hazardous link. Expect to see all records partitioned off as organisations go into the future so that only those who specifically require access will have it. One of those obvious fixes that businesses probably ought to have implemented sooner rather than later.

    Security policy with third party vendors –

    Every firm interacts with a variety of outside vendors. The need to understand who these people are has never been greater. Even permitting visitors onto their property might expose businesses to legal action. It’s necessary to restrict the kinds of documents that these vendors can access.

    Although taking such steps can be a bother for the IT department, the alternative could be a data breach that costs millions of dollars. Demand transparency from the businesses that are permitted to access your sensitive information. Don’t just assume that they are abiding by privacy regulations; verify it. Request background checks for any outside contractors entering your business.

    Employee awareness training –

    Employees are the weakest link in the data security chain, according to recent research. Despite training, workers read dubious emails with the potential to download malware every day. Employers make the error of assuming that one cybersecurity training session is sufficient. Schedule frequent sessions every quarter or even monthly if you’re serious about protecting your crucial data.

    According to marketing studies, the majority of consumers must hear the same message at least seven times before their behaviour starts to change.

    Update Software Regularly–

    Experts advise routinely updating all operating systems and application software. When patches are available, install them. When programmes aren’t constantly patched and updated, your network is exposed. Baseline Security Analyzer, a software from Microsoft, may now be used to periodically check that all programmes are patched and current. This is a simple and affordable solution to fortify your network and thwart attacks before they start.

    Develop a cyber breach response plan –

    What would you do if you discovered a data breach when you arrived to work the following day? Surprisingly few businesses have a reliable breach response strategy in place. Both the company and the employees can understand the potential losses by creating a thorough breach preparedness strategy. Employees want to know the truth; therefore, an employer should be very open about the extent of the violation. A sound response strategy can reduce lost productivity and stop bad press.

    Setting strong passwords –

    One thing that security professionals will emphasise when they visit your organisation to train your staff is the importance of routinely changing all passwords. The majority of people are now aware of how crucial it is to make passwords challenging to crack. We have mastered the use of capital letters, numbers, and special characters when creating passwords, even on our home PCs. Make it as difficult as you can for hackers to enter and steal your belongings.