Category: Emerging technologies

Why Is It Important For Digital Marketing Agencies To Have Deep Tech Capabilities Going Forward?

September 24, 2020

There are lots of areas where digital (or any) marketing agencies can leverage technology to complement their offering. 1) Create unique marketing automation journeys on top of existing open-source products, and have full creative control of the user experience/user journey. 2) Integrating Growth / MarTech Tools (like CRM, A/B Testing, Helpdesk, etc.) properly to ensure that the campaign benefits are multiplied. 3) Websites (along with mini-sites, landing pages) are getting more complex. You should be able to take care of site security, issues like a progressive web app (PWA), site speed optimization, or simply making the website mobile friendly – that too within the constraints of the given content management system (CMS). And besides this, the marketing (design and messaging) needs to be tweaked, optimized, and well-integrated into these frameworks to get the desired result. 4) Build digital assets (often digital tools, e.g. – simple and free cloud-based payroll tool to build an audience for an HR consulting company) that engage the audience and deliver value to create a lasting impact. It is proven that in content marketing, “functional tools” are much more effective and have a longer shelf life, referral, and recall than thought leadership or curated content. 5) Build deeper and contextual (to the business and industry) web analytics layer on top of traditional analytics data to mine insights and act upon them (E.g. when you see traffic increase on a website, what is the actual quality-weighted improvement of traffic from different sources, by different campaigns). At times, you have to pull data from different sources to mash-up and derive composite analytics. Such deeper insights help derive business metrics from generally available vanity metrics. Most importantly, to achieve great results, you need a combination of both the right brain (creative) and left brain (logical thinking) to come together. It just changes the perspective. The challenges which most brands owners face are endless communication loop between agencies (creative+marketing, and tech) when these functions are being performed by two different agencies with different working style. What are your options: 1) Build – The best option. However, you need to manage two opposite personality types in one team, which is not an easy job. It’s disciplined vs. creative, methodical vs. inspirational, geek vs. bohemian. My intent is not to generalize, but highlight the difference in team personality at a broader level. 2) Buy – Acquire a small tech company to fulfill the requirements. Good solution, but cultural integration can be a challenge, and you can gravitate to the same problem that you can have when you build a team in long term. 3) Partner – Do a tightly integrated partnership with a tech agency and dry-run the working relationship on smaller projects or internal hobby projects! 4) Outsource – Find tech firms online or through reference and outsource the tech side to them. This is interesting and valuable leverage that any digital marketing agency ought to build, to stay ahead in the hyper-competitive market of building long term relationships. What are your views on this? It will be a pleasure to know your views, and discuss and learn from you!

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Virtual Banking: From A Global Hype To A Norm

November 12, 2019

“The fact that two-fifths of UK consumers won’t even consider using a bank with no presence on the high street demonstrates that there is a way to go to instil confidence. Few people rave about their bank, yet so many of us are cautious about trying a new way of doing things. The hurdle for digital banks is to get consumers to experience first-hand what the next generation of banking looks like.  Countless statistics on customer journeys tell us that people find digital banking easier than the traditional high street model, but a lot of consumers aren’t tech-confident enough to give it a go in order to find that out. To really compete, digital-only banks should be considering how they collaborate as an industry to help customers feel digitally literate enough to give their services a try. The payments industry works in a far more collaborative way to bring new offerings like contactless payments to market; this could be a good example for digital-only banks to follow.” – Anton Ruddenklau, Head of financial services digital and innovation, KPMG United Kingdom. In the last few years, a sudden rise of direct-to-consumer banks-usually called virtual banks have grown with around 11% of users across the globe started to using it as their main account reported by a study of 2019 FIS Performance Against Client Expectations. In the survey of 1749 U.S. consumers, it was reported that the reason was the shopper satisfaction index.  If we go around and see the data in details we get the following inferences for the UK. Top users of virtual banking Top users of digital payment Brighton (33%) Brighton (75%) Newcastle (32%) Cardiff (68%) Plymouth (29%) Southampton (65%)   Source: The Fintech Times  It’s creating a market of its own Virtual banking is convenient, it’s cheaper, and it’s gaining traction among international customers. Digital-banking is additionally fettered by a variety of things which will keep it a distinct segment market. Over time, the leading digital-banking establishments can overcome the issues of security and client satisfaction which can result in higher measurability. Until then, traders, investors, and shoppers of digital banks have to be compelled to be ready for volatility and churn because the market matures. There are many directions in which the digital banks will want to expand their numbers of shoppers. One direction is cryptocurrency. Digital banks are already partnering with outstanding block-chain technologies to power their performance. It’s solely natural for these establishments to list the tokens that underlie the block-chains similarly.   The fact that blockchain as a technology is maturing and a number of cross border FinTech start-ups like Transfer wise (money transfers without changing countries) are challenging the norm. It is a matter of time that USPs like availability of 24×7, on the go and lower costs are offered to the consumers, which will further help boom the market. The outcome, for the buyer, is probably going to be a mix of digital and ancient banking. The 2 can work hand in hand to supply the monetary product, access to markets, and account services across the spectrum of decree and cryptocurrency  In fact, if we go deeper and understand the trend we identify that 9% of British adults have opened an account with a digital-only bank, equating to 4.5 million people, reports a survey conducted by Finder. The proportion is higher among younger age groups. 15% of generation Z (born after 1996) compared to just 6% of baby boomers (54–73-year-olds). With London setting the example, being the fastest growing in digital-only bank accounts holders and next 26% of Londoners getting ready to open one. The stage is set. Start imagining a world where your ATM Card can let you have any currency of any kind and you will know that virtual banks are already here.

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It’s A Voice-Led Future: What FinTech Marketers Need To Know

October 23, 2019

Business Insider says 75% of iPhone users have used Siri and 63% Android users are well acquainted with a voice assistant (like Bixby for Samsung) on their smartphones. If we go deep and look at the US as a market we find that 18 million consumers have gone ahead and tried to do critical actions like banking transactions, all by voice. These developments do establish the fact that voice-based assistants are not just for carrying out to mundane tasks like booking a calendar or reminders or carrying on Google searches. Last year, when Google during its event showed its possibility of voice assistants we all loved it and felt the ease which these developments can offer. The future is already here but are we marketers even ready? Voice payments adoption in the USA Source: Business Insider – The Voice Payments Report 2017 The growing voice-first landscape  A number of any FinTech leaders from banks and other financial institutions have already started to vouch for a virtual voice for their next customer experience shift. “This technology will make it easier for people to bank with us and could bring particular benefits to those who have a disability, as voice banking eliminates the need for customers to use a screen or keyboard” – Kristen Bennie, NatWest’s head of Open Experiences  Another interesting angle to the developments is the simultaneous growth of industry disruptors who are developing their own solutions to leverage voice payment technology. Here are some instances referred from intellias: KAI, a conversational AI platform from Kasisto, is used by JP Morgan, Mastercard, Wells Fargo, and others. Cognitive Banking Brain fromPersonetics serves over 50 million bank customers in the USA and across Europe and Asia. In 2017, the Royal Bank of Canada, Barclays, and Santander introduced voice recognition payments via Siri. Ally Bank has been interacting with its customers via Ally Assist SM since 2015, continually improving it to recognize speech better and provide accurate answers.  Why banks must invest in voice? The answer is simple! It is the most sought out and natural means of communication which can lead to personalized interactions resulting in business growth. Another important part is that voice makes banking more inclusive especially for the visually impaired, offering them a sense of independence in day to day banking. In order to become truly customer-centric, banks need to stay abreast of this cutting edge innovation and define their conversational strategies now. ”Truly listening is hearing the needs of the customer, understanding those needs of the customer, understanding those needs and making sure the company recognizes the opportunities they present.” – Frank Eliason, Global Director of Client Experience Team at Citi What’s more is those voice interactions can provide valuable insights into customer needs and behaviours, allowing banks and FinTech companies to offer personalized services with a unique brand touch. Today, voice payments are limited to minor eCommerce transactions, but machine learning algorithms for voice technology are improving daily. Soon, customers will feel comfortable enough to make more expensive and complicated purchases by voice. The potential that voice banking posses Voice banking is taking the financial industry by storm and FinTechs are competing to offer more advanced, robust, and secure solutions. Progress in this area is predicted to move in several directions in the next couple of years: Improved security Security is a concern when it comes to voice payments. Keeping information private while going through authentication procedures is a challenge for voice banking. But combining various biometric markers such as fingerprints, irises, and voice might be a solution. Source: The Future of Mobile Biometrics A study conducted by Visa in 2017 claims that more consumers are expressing confidence in using biometrics as a secure form of authentication: 84% in 2017 compared to 59% the year before.  Nuance Communications, a provider of voice recognition technology, states that even professional imitators can’t fool their system. Integration of visual interfaces CES 2018 saw Google showcasing dozens of devices powered by its Google Assistant, ranging from speakers with touch displays to smartwatches. This allows users to start interacting with the virtual assistant by voice and continue their communication on-screen. The tech giant also introduced the voice-controlled Google Assistant in all cars that have Android Auto. Contextual understanding and customized voice detection Neuro-linguistic programming (NLP) and voice recognition techniques saw major advancements because of which conversations with virtual assistants will moderately become less “mechanical” and closer to natural human communication. The next stages of voice technology development include understanding the context of questions, recognizing accents, and differentiating between voices.  Introducing the digital concierge experience With digital voice assistants becoming more cosmopolitan with time, they’ll go further than simply letting people make payments using voice technology. You’ll also be able to communicate with financial institutions, handling more complicated tasks like issuing invoices, paying taxes, getting loans, and renewing insurance. All these actions will be voice-enabled from your smartphone, smartwatch, connected car, and home system – anywhere and anytime. “Gen-IV is where we’re likely heading – chatbots powered by state-of-the-art voice recognition technology so that the assistant can recognize me beyond doubt based on my speech mannerism and voice patterns, and conduct all types of transactions.”                                                                     Dhananjaya Tambe, CIO, State Bank of India

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How Super Apps Can Be Your Next Big Move

September 19, 2019

“There’s no Skype, no Facebook, no Twitter, no Instagram, we use WeChat. OK tell me your WeChat number!” – Higher Brothers, WeChat In early 2015, a Chinese documentary titled Under the Dome roped in 200 million views in a span of 3 days. The striking point over here is the fact that the 103-minute documentary didn’t release in a single theatre. More than 40% of viewers saw the movie on…wait for it…WeChat. With over a billion monthly active users, WeChat is a phenomenon that hasn’t been replicated anywhere else so far in the world. However, a couple of unicorns are planning to give them a run Alipay, a Chinese payment platform and Go-Jek, a transportation app from Indonesia. Super App is a new challenge on the block for global acceptance. It is neither really an app nor an Operating System for smartphones. It is a Super App. From a slide of “Rise of the Super App: Mobile-First Product Ideas from China” What exactly makes for a Super App? “A Super App is many apps within an umbrella app. It’s an OS that unbundles the tyranny of apps. It’s the portal to the Internet for a mobile-first generation.” – GoJek In 2010, Mike Lazaridis, the Founder of Blackberry, shared his amazement with  the possibilities which a ‘Super App’ constitutes, “…representing a new class of mobile applications that make you wonder how you ever lived without them.” More often if not always, it is likely to be operated at the intersection of logistics/hyper-local delivery, commerce, payments and social. To start the journey of becoming a Super App, a minimum of two of these functions are necessary. However, evolving into a conglomerate of apps will be the best way to become a Super App. The idea is to scale fast once you have a user’s buy-in and add multiple services to gain loyalty. Once you have direct offerings, the next logical step is to open the app up to third-party companies to build on a loyal user base. Now, you don’t build separate apps. Instead, you can host your offerings on a single Super App. Gradually the Super App becomes the OS. Screenshot of Alipay iOS app Right at the screen above, you will see some of the most required services like city service, pay utilities, buy movie tickets, book a room via Airbnb.  Among them, you can see other kinds of services like Fund Transfer and Third-party Services that can look irrelevant for many users. These are all in ONE APP! Screenshot of GO-JEP App! But why a Super App?  Remember India’s ‘Good Morning’ message phenomenon? Every day, India’s mobile users send a ‘good morning’ image to their friends and family. According to a WSJ report, “These images have an overabundance of sun-dappled flowers, adorable toddlers, birds and sunsets sent along with a cheery message.” As a result, one in three smartphone users ran out of space daily, according to a Western Digital report. A report by Statista shows that there are roughly around four million apps available between just the Google Play store and the Apple App Store, and the glut is painful for countries with limited smartphone memory and a saturated market. A Super App corrects this imbalance. It sits on top of a mobile OS by shrinking the time taken to complete a specific task and in turn, increase productivity. For the next billion users, it also adds UX elements that make it easier for users to get accustomed to mobile phone usage. Do you think it’s easy? Well, no, ask Facebook. For about two years, Facebook’s Messenger tried to build the WeChat of the West without much success. It remains to be seen if they can do it in the current climate. In case, you are struggling to identify if Super App is what you need? Then ask us today, say us a “Hi” today at info@indusnet.co.in  

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Here’s To Welcome Desktop PWAs

September 4, 2019

“These apps aren’t packaged and deployed through stores; they’re just websites that took all the right vitamins.” Alex Russell, Development Expert who coined the term Progressive Web Apps (PWA) in 2015 along with Frances Berriman, a Freelance Designer and Technologist. Since the term was coined, there has been a lot of confusion to what exactly it is. Pertaining to that, Alex Russell had already put out its attributes early but it still is evolving. Some of the features he defined or this class of application include: Responsive: to fit any form factor Connectivity independent: Progressively-enhanced with Service Workers to let them work offline App-like-interactions: Adopt a Shell + Content application model to create App like navigations & interactions Fresh: Transparently always up-to-date thanks to the Service Worker update process Safe: Served via TLS (a Service Worker requirement) to prevent snooping Discoverable: Are identifiable as “applications” thanks to W3C Manifests and Service Worker registration scope allowing search engines to find them Re-engageable: Can access the re-engagement UIs of the OS; e.g. Push Notifications Installable: to the home screen through browser-provided prompts, allowing users to “keep” apps they find most useful without the hassle of an app store Linkable: meaning they’re zero-friction, zero-install, and easy to share. The social power of URLs matters Even with a lot of well-written content around myths and confusion are still in the air. Some of the beliefs include: When you’re building a PWA, you require a JavaScript framework A single-page app is a must to start a PWA PWAs make sense only when used in a mobile interface PWAs are an Android-only thing However, all are a MYTH. The most predominant among them is that PWAs are a mobile-only thing. Why build Desktop Progressive Web Apps? While mobile phone usage has seen peak usages in the morning and evening, desktop usage is evenly distributed throughout the day. This is because people use desktops mostly when at their work desks. Desktop PWAs doesn’t need a separate tab or an address bar. This is because they are launched from the same place as other desktop apps. The look and feel are like other apps on the desktop. A service worker if available provides complete control of the app both online and offline. Pros to consider: The size of the app stays small when compared to native apps and they’re even faster PWA helps to fix bugs or errors easily when rolling an update than native apps Time taking installation is not required PWAs are reliable because service workers are able to cache all the assets they need to run For instance, Google Chrome is the only browser which is supporting Progressive Web Apps on Windows Desktop. Google Chrome from version 67 supports to install the PWA by visiting the website on Windows. Your first desktop PWA Requirements: Visit SuperPWA and have Chrome browser Version (70+) Visit the website that you would like to install PWA into Desktop From the Browser Menu (the three dots at the right corner of the browser), you can see Install + Website’s name (for example; if the name of the website is SuperPWA, then it will be Install SuperPWA) Once you click on it, you can see a Banner at the top centre of the browser. Click the Install button within the prompt. A new window will be opened automatically that loads the Start Page that you set for PWA. You can also notice an Icon within your Desktop Now the website works as an Application from Desktop with features of PWA In case, you want to get rid of your desktop PWA Presently Chrome PWA on the desktop provides 2 options to uninstall the PWA 1. Directly from the PWA Window PWA can be easily uninstalled from the PWA screen by tapping three dots (Customize and Control option). As from the options select Uninstall. Then a prompt occurs for confirming the uninstall, select Remove button. 2. Via Chrome Apps page Chrome apps page helps to find out what all PWA’s are installed within your desktop via Chrome Browser. For accessing it, type chrome://apps/ over the address bar. Find the app you wish to uninstall, right-click the PWA Logo which you would like to uninstall. And then select Remove from Chrome from the options and click Remove from the prompt appears. The way forward Desktop web apps are definitely a step in the right direction. What we think is with Google becoming a sole provider we need more giants to walk in. Rumours about Microsoft’s WebAPPX, which is a PWA solution things will turn on soon and make it mainstream in the long run. Apple is also expected to soon join in. However, for organizations looking to disrupt, adopting it early might be a good way to start.

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Why API Integration Is A Must For Digital Banking Growth In 2019

May 30, 2019

The banking industry is currently overwhelmed by technological disruptions and heightened customer expectations, with non-traditional players such as Facebook, PayPal, Google, and others quickly usurping roles previously played by banks. Non-traditional players have access to cutting-edge technology, which results in excellent user experience (UX) and innovative financial solutions. Customer expectations cannot be met by traditional banks which restrict themselves to digital solutions such as mobile apps or 24/7 customer service. However, banks can choose to be savvy and make the right choice of opening up their APIs to these third-party products and applications. According to one survey, 55% of financial institutions believe that API integration is critical to business strategy. Banks need to collaborate with newer and non-traditional players and open up their APIs in order to remain competitive and witness growth. API integration is an urgent need Behavioral changes and customer preferences have vastly changed over the years, with millennials and Generation Z expecting more from their banks than older users. Providing excellent customer service and a great mobile application are simply not enough anymore, because of the innovative disruptions initiated by non-traditional players. According to a report published by Intelligent Finance, Baby Boomers (or those born between 1946 and 1964) considered poor face-to-face customer service as a major determinant to exit a bank, while millennials revealed they would exit a bank not only if they disliked its smartphone app but also if it suffered from security breaches. Younger customers are also likely to quit a bank if they are unable to use their bank accounts on third-party applications and products. This is a gap that non-traditional players have capitalized on, and is an existential threat to traditional banks. People aged between 18 and 34 are two times likelier than older customers to use mobile payments and P2P lending products. In addition, the same demographic group prefers to receive constant updates via preferred channels such as text message, app notifications, etc. As Millennials grow older and more affluent, and as Generation Z takes the place of the millennials, the importance of digital banks providing a holistic financial ecosystem consisting of third party products and services used by customers become more apparent. Here are some successful examples of API integration: People with financial difficulties in the USA have started to use P2P lending tools such as Earnin and PayActive. It is now possible to consolidate debt too, thanks to debt aggregators. Marcus from Goldman Sachs and SoFi are often cited as examples for non-traditional lenders. Often, these tools are integrated with e-commerce sites or food delivery apps so that people can purchase what they need on credit, bypassing banking lending rules. Credit unions are a non-traditional alternative to bank loans. Walmart MoneyCenters are extremely popular today because they offer a borrowing alternative to people with poor credit histories. If banks integrate their data with these products, customers can continue to make payments for P2P loans without canceling their accounts. One of the best examples of API integration is when PayPal decided to integrate its API with Siri. iPhone users can send and receive money via PayPal by speaking to Siri. Wave is an invoicing and accounting software used by businesses and individuals. Wave uses banking APIs to help users control all their business finances in a single place. It collects as much data as possible from various sources and even markets loans provided by OnDeck on its platform to eligible users. Larger banks have started to offer data aggregation services to their customers. For instance, HSBC recently launched its Connected Money app, on which customers can view their account details in 21 other banks without ever leaving HSBC’s application. Facebook Messenger payments allow Facebook users to transfer money to their friends without ever having to leave the network. Facebook currently has integrated the APIs of PayPal, Stripe, Visa, MasterCard, American Express and others. If traditional banks do not understand the metamorphosis that has already taken place, they stand to lose more of their existing and future customers to non-traditional players. Specific reasons for API integration In order to survive technological disruption, banks need to engage in business model reinvention, which includes open banking and partnering with the newer third-party apps and products. While the producer market consists of banks and other financial enterprises that create products and services, customers can access these products and services on third-party applications, websites and or use voice control. Capitalizing on these distribution channels by opening up APIs is very important for banks survival. E-commerce and on-demand services such as Uber and Airbnb have spurred a customer-centric demand for always-on banking Internet of Things (IoT) enabled devices have led to a growing need for smart solutions and banking services available on intelligent devices Omni-channel banking experience requires data exchange between apps, and customers take this facility for granted now What kind of apps need integration? New services and applications that need API integrations with banking applications include: Payments, clearing and settlement services Mobile and web-based payment applications Digital currencies (DCs), Blockchain and Distributed Ledgers Deposits, lending, and capital raising services Crowdfunding Market provisioning services such as smart contracts and e-aggregators Emerging technologies such as Big Data, cloud computing, Artificial Intelligence (AI) and robotics (Robo-advice) Electronic trading and insurance API Integration can prove to be challenging If you thought your in-house developers can release an API along with the application, you will be disappointed to learn that in 2019, it is a very complex situation. Developing an integration workflow consumes the most amount of time during API Integration, and requires special skills. Event Driven Integration is far more complex than simple API integration, as it needs to provide real-time status updates to customers. Real-time status updates are crucial in today’s financial market. APIs are not always uniform and there are no industry standards at the moment. 70% of the developers work with REST APIs, which makes it a wise choice for API Integration. However, REST APIs will not work for all kinds of applications and

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Who Are Digital Nomads?

March 14, 2019

Transformation is the thumb rule of nature and so is the new millennial workplace arrangement. If you are aware (or not) of the trend of the hour ‘Digital Nomad’, then we would simplify it more! The term refers to a person whose physical proximity to their workplace is not dependent on their work. They are remotely connected over telecommunications and are technology-dependants. That means, if you are a talented globe trotter, your talent can be of use across the world and not concentrate only on your location! This drove around 50% of the young U.S workforce to ditch the traditional format of working while making it the new modus operandi. Though it originated mainly out of the freelance community, today, it is no more restricted to the start-ups or SMEs but established brands are digesting it well! BUT, how effective is it? Lucile Foroni, Growth Manager at Doist, a complete remote workforce organization states “Remote work’s biggest advantage is the ability to focus. You can focus when you want to do deep work, and check messages or plan a meeting when you need to communicate. No one taps on your shoulder, constantly DMs you because your online indicator is green or calls you at whichever time of the day or night. You’re in control of your attention. Moreover, it adds to the managerial flair as I do not need to micro-manage the team.” Having said so, a dispersed team globally helps you in time management. For example, when one teammate residing in the USA completes a certain work and post which can pass it on to his Canadian teammate who then completes his part of the job. This ‘round the clock and around the world’ approach sets one completely free from unnecessary professional stress. The list doesn’t stop here! According to Forbes Financial Council, around 43% of employers are switching to employing remote workers owing to the cost omission of their office spaces. This allows even a start-up to recruit a diverse talent pool without paying bulk from their raised funds. This is an enabler to improve their productivity and ensure effective cost-cutting. This culture erases the need of renting an official space or even a co-working space allowing effective implementation of their funds in other projects or services. ‘Been there, done that’ If you thought that remote working is not your cup of tea, owing to a much larger workforce management, trust Zapier’s co-founders, Wade Foster and Mike Knoop who feels remote working culture leads to a refined and fast-paced work. “Non-remote work defaults to the highest distraction communication first, which is in-person. Remote work defaults to the lowest, which is no communication and is more on point,” they share. However, fostering trust is one eminent task, mutual responsibility for both the employers and the employees. So, before your boss rings up a bell, you should be more self-disciplined and should be managing your and your teams’ regardless of the locations and time zones. Foster adds, “To match the deadline, one should be ahead of it because emergencies are ought to happen owing to the diverse location and time zones.” Therefore, hiring self-managers could be a winning stroke for your company. However, a distributed team faces time differences, internet connectivity issues to conflicting cross-cultural behaviours to start a spontaneous communication, so how would you increase trust among your teammates? To overcome this barrier of productivity, David Horowitz, Chief Executive Officer, Retrium shares his experience, “Be an intentional communicator because there are no break rooms to break off the work monotony. So, take out time to strike off a genuine conversation and build a healthy bond with your digital nomads.” Zoho, created another success story in creating Zoho Connect, its remote working wing suggesting how to intentionally communicate and what if you fall short of content! First thing first, homogeneity would never let you fall short of communication so one could simply exchange information on their weather, national holidays, swap their music playlist or simply gossip about movies to keep it genuine and smooth. This way, one can find a mental connection to talk beyond work, building trust and loyalty among the multi-cultural workforce. But, what if miscommunication strikes off an important delivery? Being video first avoids a lot of unexpected friction owing to cross-cultural blend. Therefore, sticking to video calls over voice calls would help you to analyse body language and instill a sense of connectivity. On this line, Ricardo Fernandez, Chief Marketing and Sales Officer, Prodigy Finance shares his hard learnt experience, “Once, I had congratulated one of my colleague on a voice note stating ‘you’re killing it out there’. To my amazement, he reverts asking what went wrong on his part! Had I relied on a video call, my intention would have been clear.” To sum up, if you are intending to bring in diversity in your organisation in terms of talent acquisition in minimal cost, then think but to re-structure your go-to strategies in hiring and retaining remote workers across the globe. Around the globe in 80 days, err, 80 seconds! According to fresh data from LinkedIn, web design, social media management are amongst the highest growing digital trends. Today, employers are trying to address mental health issues pretty seriously. Accordingly, 21% of remote workers stated loneliness as their primary concern to their shift. If you are an SME, then bridging the cybersecurity concern is an important concern. Approximately, 18% of remote workers reviewed the lack of cybersecurity when working in an SME. Ernst & Young reveals that more than 50% of the global professionals trust their employees; however, this calculation is pretty low for remote workers. Therefore, addressing the trust issue and building a mental connection is an important mandate for all remote employers. With the rapid digitization and Gen-Z coming over the workplace, 2019 would be the perfect year for creating a perfect remote workplace!

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How To Enrich Customer Experience Using AI?

January 4, 2019

Artificial Intelligence has become a buzzword over the last two years and there has been good development around it as well. However, customer experience still hasn’t seen any drastic improvement. The reason often stated is that automation lacks creating an atmosphere of emotional engagement which is a must for positive customer experience. This is where artificial intelligence is going to come to our rescue. AI-enabled technologies can help us understand customers at a deeper level, and predict what they really want, helping us craft campaigns and product experiences that lead to better customer experiences. Let us take a look at how you can start using artificial intelligence quickly and easily, in order to enrich the customer experience. Implement AI-enhanced customer service Artificial intelligence-enabled tools process gigantic amounts of data to quickly understand the situation and history of a customer, helping customer service agents to respond accurately. In addition, customer service enhances customer experience only when it is available 24/7, on all channels. Only artificial intelligence can make that possible for you in a cost-effective manner via chatbots and virtual assistants. Here are some specific uses of implementing AI-enhanced customer service: Chatbots can respond to queries on a number of channels 24/7 Virtual assistants can provide human-like customer service via text and voice AI-enabled tools can assist customer service agents to ingest a customer’s entire history while answering queries Identify customer emotions and provide context-appropriate customer service Use case: CIMB Bank now offers 24/7 customer service by integrating EVA, a Chabot-enabled mobile app. Bank customers can perform a number of activities such as transferring money. paying bills, checking balance, etc. The bank could reduce its dependence on human customer service agents, and also provide 24/7 customer service. Point to note: AI can be used independently if you cannot afford an in-house customer service team. Consider AI-assisted after sales support From Internet of Things to predictive analysis, after-sales support is rapidly changing in recent years. Thanks to artificial intelligence and the many technologies that fall under this bracket, implementing after-sales support is easier than ever. Internet of Things-enabled devices can help provide predictive product support, thereby enhancing customer experiences. Here are a few situations when you can use IoT-enabled after-sales support: Identify when parts are malfunctioning and send technicians immediately Observe downtime and uptime of products and make product enhancements Gather data related to product usage Make improvements to your product and enhance customer experience Use case: Syncron Uptime is an IoT-enabled product by Syncron, which helps manufacturers to provide after-sales support. The technology helps identify when a product will require replacement or repair, by tracking equipment in real time. It uses sensor data to identify malfunctioning and other anomalies, and help manufacturers respond before the customer has knowledge of something going wrong. Point to note: If you provide services rather than products, you can use textual analytics to process natural language on social media or email to identify what your target audience wants. Invest in intelligent data analytics While older data analytics tools only processed data and generated reports, AI-enabled tools can unify various data sources and bring real-time insights to you. Most importantly, AI helps you put insight into its business context. Text analytics solutions are increasingly being used to identify patterns and predict outcomes and take action when required. By using an AI-enabled data analytics tool, you can: Build a dynamic customer profile that recognizes individual interests, previous communication, loyalty, etc. Offer predictive personalization to your customers for enhanced satisfaction Unify data related to customer journeys and generate insight that is more predictive in nature Identify when customer churn might occur based on text communications Use case: Nordea is a Swedish bank that uses an AI-based text analytics solution. The tool analyses hundreds of inbound customer communications every second and processes them intelligently. Each communication is forwarded to the right business unit, eliminating customer frustration. The tool can also be used to recognize customer churn and eliminate it. Point to note: Customer behaviours are chaotic and their interaction datasets are messy. Data insights can bring discipline into an otherwise undefined and unchartered territory. Understand your customers at a deeper level Affective computing, a branch of artificial intelligence that recognizes people’s cognitive and emotional states, is expected to grow to a $41 billion industry by 2022. Apple, Facebook, Google, and other companies are currently working with affective computing specialists such as Beyondverbal, Affective and Sensay to bring facial analysis, emotion recognition, voice pattern analysis, and other humanizing technologies to software programs that run products and services. Here is how you can implement effective computing in the coming months: Identify customer moods on social media by using textual analysis Provide customer support by recognizing negative emotional states such as frustration or anger Use conversational IVRs to recognise frustration during telephone calls Chatbots can recognize emotions and respond appropriately by using neuro-linguistic programming Use Case: Ford is working with Affectiva to bring AutoEmotive, an Automative AI, to its cars in order to prevent accidents and incidents of road rage. This emotion-recognition software uses AI to identify human psychological conditions such as lack of attention, rage, anxiety, etc. in order to take control over the vehicle or just stop it from moving. Point to note: Implement a solid privacy and consent policy to keep yourself safe from litigations, and protect your customers as well. Focus on the humanization of customer interactions A monogamous relationship with AI may spell doom to your customer experience strategy. Nearly 50% of those interviewed in a survey expressed that they would prefer if AI-enabled interactions were more human-like. While AI has obvious benefits of cost reduction, efficiency in customer service, and access to valuable insight, it may reduce customer experience unless you humanize it as well. Here are a few tips to humanize an AI-enabled customer support strategy Implement natural language processing and human voice to bring a “real human” experience Use AI-enabled data density to provide personalized and individual attention to customers Implement real-time support with

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How To Enrich Customer Experience Using AI In 2019?

January 4, 2019

Artificial Intelligence has become a buzzword over the last two years and there has been good development around it as well. However, customer experience still hasn’t seen any drastic improvement. The reason often stated is that automation lacks creating an atmosphere of emotional engagement which is a must for positive customer experience. This is where artificial intelligence is going to come to our rescue. AI-enabled technologies can help us understand customers at a deeper level, and predict what they really want, helping us craft campaigns and product experiences that lead to better customer experiences. Let us take a look at how you can start using artificial intelligence quickly and easily, in order to enrich the customer experience. Implement AI-enhanced customer service Artificial intelligence-enabled tools process gigantic amounts of data to quickly understand the situation and history of a customer, helping customer service agents to respond accurately. In addition, customer service enhances customer experience only when it is available 24/7, on all channels. Only artificial intelligence can make that possible for you in a cost-effective manner via chatbots and virtual assistants. Here are some specific uses of implementing AI-enhanced customer service: Chatbots can respond to queries on a number of channels 24/7 Virtual assistants can provide human-like customer service via text and voice AI-enabled tools can assist customer service agents to ingest a customer’s entire history while answering queries Identify customer emotions and provide context-appropriate customer service Use case: CIMB Bank now offers 24/7 customer service by integrating EVA, a Chabot-enabled mobile app. Bank customers can perform a number of activities such as transferring money. paying bills, checking balance, etc. The bank could reduce its dependence on human customer service agents, and also provide 24/7 customer service. Point to note: AI can be used independently if you cannot afford an in-house customer service team. Consider AI-assisted after sales support From Internet of Things to predictive analysis, after-sales support is rapidly changing in recent years. Thanks to artificial intelligence and the many technologies that fall under this bracket, implementing after-sales support is easier than ever. Internet of Things-enabled devices can help provide predictive product support, thereby enhancing customer experiences. Here are a few situations when you can use IoT-enabled after-sales support: Identify when parts are malfunctioning and send technicians immediately Observe downtime and uptime of products and make product enhancements Gather data related to product usage Make improvements to your product and enhance customer experience Use case: Syncron Uptime is an IoT-enabled product by Syncron, which helps manufacturers to provide after-sales support. The technology helps identify when a product will require replacement or repair, by tracking equipment in real time. It uses sensor data to identify malfunctioning and other anomalies, and help manufacturers respond before the customer has knowledge of something going wrong. Point to note: If you provide services rather than products, you can use textual analytics to process natural language on social media or email to identify what your target audience wants. Invest in intelligent data analytics While older data analytics tools only processed data and generated reports, AI-enabled tools can unify various data sources and bring real-time insights to you. Most importantly, AI helps you put insight into its business context. Text analytics solutions are increasingly being used to identify patterns and predict outcomes and take action when required. By using an AI-enabled data analytics tool, you can: Build a dynamic customer profile that recognizes individual interests, previous communication, loyalty, etc. Offer predictive personalization to your customers for enhanced satisfaction Unify data related to customer journeys and generate insight that is more predictive in nature Identify when customer churn might occur based on text communications Use case: Nordea is a Swedish bank that uses an AI-based text analytics solution. The tool analyses hundreds of inbound customer communications every second and processes them intelligently. Each communication is forwarded to the right business unit, eliminating customer frustration. The tool can also be used to recognize customer churn and eliminate it. Point to note: Customer behaviors are chaotic and their interaction datasets are messy. Data insights can bring discipline into an otherwise undefined and unchartered territory. Understand your customers at a deeper level Affective computing, a branch of artificial intelligence that recognizes people’s cognitive and emotional states, is expected to grow to a $41 billion industry by 2022. Apple, Facebook, Google, and other companies are currently working with affective computing specialists such as Beyondverbal, Affective and Sensay to bring facial analysis, emotion recognition, voice pattern analysis, and other humanizing technologies to software programs that run products and services. Here is how you can implement effective computing in the coming months: Identify customer moods on social media by using textual analysis Provide customer support by recognizing negative emotional states such as frustration or anger Use conversational IVRs to recognise frustration during telephone calls Chatbots can recognize emotions and respond appropriately by using neuro-linguistic programming Use Case: Ford is working with Affectiva to bring AutoEmotive, an Automative AI, to its cars in order to prevent accidents and incidents of road rage. This emotion-recognition software uses AI to identify human psychological conditions such as lack of attention, rage, anxiety, etc. in order to take control over the vehicle or just stop it from moving. Point to note: Implement a solid privacy and consent policy to keep yourself safe from litigations, and protect your customers as well. Focus on the humanization of customer interactions A monogamous relationship with AI may spell doom to your customer experience strategy. Nearly 50% of those interviewed in a survey expressed that they would prefer if AI-enabled interactions were more human-like. While AI has obvious benefits of cost reduction, efficiency in customer service, and access to valuable insight, it may reduce customer experience unless you humanize it as well. Here are a few tips to humanize an AI-enabled customer support strategy Implement natural language processing and human voice to bring a “real human” experience Use AI-enabled data density to provide personalized and individual attention to customers Implement real-time support with

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What Does “Rise Of Everything-as-a-Service” (XaaS) Mean For The CXOs In 2019?

December 14, 2018

Businesses have long toyed with subscription-based models to access and deliver their services and products. Internet-enabled technologies have helped businesses to manage operations, and bring scalable solutions and tangible products to end users, both B2B and B2C, in increasingly flexible patterns. When these disparate services are delivered via cloud on subscription-based models, they are often described as Everything-as-a-Service (XaaS) or Anything as a Service. XaaS has necessitated a paradigm shift among C-level executives. In this article, let us take a look at what XaaS is, and what CXOs need to know about it in 2019 and beyond. We expect decision-makers to adopt a two-pronged approach, in which they use XaaS to run their businesses, and also deliver their own products and services via XaaS to their markets. Understanding the growth of Everything-as-a-Service (XaaS) While the as-a-service model started with SaaS, it quickly branched out beyond Platform-as-a-Service (PaaS) and Infrastructure-as-a-Service as well. XaaS is a simpler way to describe technologies that are delivered over the internet to businesses.  XaaS’s nomenclature does not lie simply in its convenience of verbal use. According to a Deloitte survey, 71% of 1,170 IT professionals admit that XaaS supports more than 50% of enterprise IT requirements. During 2017 and 2018, Gartner predicted SaaS to grow at 21.6 percent and PaaS to grow at 24.6%. The most astonishing growth was to be seen in the Infrastructure-as-a-Service sector, growing at 36.6% per annum. Many solutions that were previously delivered onsite can now be delivered over the cloud. It is these technologies that are collectively called as XaaS. It must be noted that it is increasingly common to deliver tangible services and products on an as-a-service model as well. Evolution of XaaS and its future In the last couple of years, Google, Amazon, Citrix, and others have made Database Platform as a Service (dbPaaS), Function as a Service (FaaS), and Containers as a Service (CaaS) very popular. These specialized solutions have helped enterprises to access technologies that were virtually inaccessible. We are moving towards a situation where anything can be delivered as a service. In the past few years, we have seen these solutions offered by enterprising companies: Analytics as a Service Backup as a Service Content as a Service Energy Storage as a Service Games as a Service Knowledge as a Service Humans as a Service (temporary and permanent staffing solutions) Monitoring as a Service A Robot as a Service Testing as a Service Virtualization as a Service Here are some important services that we expect to gain traction in 2019: Storage as a Service (STaaS): The demand for storing files, data, and libraries will increase exponentially, necessitating specialized storage services. These shall be delivered via Storage as a Service and will include S3 compatible storage solutions. Security as a service (SECaaS): The growing need to comply with GDPR, HIPAA, and other regulatory bodies will ensure the growth of SECaaS. CloudFlare, Cloudbric, and Incapsula are some examples of this model. Disaster Recovery as a service (DRaaS): With DDoS and other threats becoming apparent in 2018, more enterprises will focus on disaster recovery solutions. Millions have been spent on recovering from different kinds of disasters that there is now an entirely new branch of XaaS called DRaaS. This is an area that will grow quickly. AI as a service (AIaaS): With the importance of chatbots and other AI-related functions increasing, there will be a growing need for AI-based solutions delivered over cloud. Some examples include Azure ML, Amazon ML, and Lambda Labs. Payments as a Service (PaaS): Banks and financial institutions are particularly excited about Payments as a Service, as a European bank estimated that costs can be reduced by 60% by eliminating the need to invest in payments hardware and software, their maintenance and teams. Proof of Concept as a Service (POCaaS): Most businesses stop at an initial vision, and rarely move past that, resulting in delayed achievements and growth. Proof of concept solutions helps enterprises to envision their goals and make their visions more tangible. Proofs of concept are delivered as a service too and will see growth. What are the benefits of XaaS? As-a-service models provide users with scalability and the promise of maintenance. Here are some clear benefits of choosing XaaS: As there is no purchase involved, but only a subscription to a service, costs incurred are only a fraction of purchasing an entire service or product. Downgrading and upgrading are easy, as XaaS enables both horizontal and vertical scaling. Maintenance, upgrading, and service delivery are done by the vendor or provider. If you are the service provider, you can expect regular cash flow. As-a-service models catalyze the development of new products and services, which is good for both consumers and businesses. Attending to marketing situations can be quick and razor-sharp. It is easy to combine different as-a-service solutions to create a custom solution that works for each organization. Let us take a look at two use cases to see how XaaS helped them. Use Case 1 A cocktail of cloud services help marketing agency to focus on creative projects Problem: A marketing agency faced difficulties sustaining its projects due to paucities in enterprise IT. Solution: It chose to purchase CRM and HRMS subscriptions on the SaaS model, while Storage as a service (STaaS) helped it to safeguard important files related to projects. Security as a service (SECaaS) helped it to assure its clients that all data would remain confidential. To manage its marketing projects and deliver better services to its clients, the company picked solutions from Video as a Service (VaaS), AI as a Service (AIaaS), and Proof of Concept as a Service (PoCaaS). Results: The agency was able to manage its projects in an agile manner, and focus on its own creativity rather than on technology. Use Case 2 Restaurant enters a difficult market, wins customers’ hearts Problem: A newly launched restaurant found it difficult to manage its operations and grow its customer base in a difficult market. Adopting a XaaS approach

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