Category: Technology

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How Chatbots are Changing the Insurance Industry?

September 18, 2017

Chatbots are the new holy-grail of augmenting customer engagement and brand presence. They are proving to be very useful in most industries including the insurance industry. With the help of intuitive chatbots, insurance companies are able to explain complex products to their customers, drive brand engagement, and improve sales and distribution. The retail insurance companies have low revenue per customer and the majority of them have an email or IVR based phone network for customer service. Thus, providing a personalized experience instantly becomes a struggle leading to high dissatisfaction.  In the Chabot Customer Readiness Index published in 2017 by PWC, they highlighted that the current impact of a chatbot is pretty low as the industry is yet to accept it completely. However, they also highlighted that the ability of chatbots in handling user information and providing instant help about insurance claims and approvals assures that the future is significantly bright. Here, we have covered some of the insurance companies which have already implemented chatbots to manage their operations efficiently. 1. NEXT Insurance California-based insurance company, NEXT Insurance has launched an insurance chatbot on Facebook Messenger with which small businesses can get quotes and buy insurance. The insurance company partnered with insurance software development SmallTalk to tailor the attributes of the chatbot. The chatbot can provide tailored insurance policies which match small business owners’ needs. The chatbot gives quick and precise responses which drive customer engagement. 2. Lemonade New York City-based peer-to-peer (P2P) online insurance firm Lemonade is becoming prominent in the InsurTech space as the company heavily relies on its app-based chatbot Maya and Jim which are alter-egos of the company’s real-life employees, Maya and Jim. Backed by Artificial Intelligence, the chatbots can craft personalised insurance for customers right in the Lemonade app. The chatbot responds quickly to every type of customer query. Customers can enter the details of belongings that have been stolen or lost for getting their claim approved in no time – the whole process is carried out by the AI-guided chatbots. 3. Trov Trov is the first on-demand insurance for personal items such as electronic gadgets, home appliances, sports equipment, and musical instrument. Trov is based on the mobile platform and is a platform for larger insurers. The company has integrated a chatbot in their app which handles customer query and claims. Prior to validating the claim, the chatbot asks customers about the incident. And after accepting the claim, item(s) are either replaced, repaired or provide reimbursement to the users. 4. Bajaj Allianz General Insurance Co. Ltd The insurance sector in India is adapting fast to new technologies. Bajaj Allianz General Insurance Co. Ltd, a private general insurance company (a joint venture between Allianz SE and Bajaj Finserv Limited) has rolled out a chatbot named “Boing.” Boing has been designed to offer 24/7 customer assistance by responding to customer queries. The chatbot is at its initial stage and has an easy to use interface. The chatbot can currently address queries such as Registering a motor claim Locating workshop Locating Branch Locating Hospital Checking claim status Checking policy status Boing currently is active on the company’s official website. 5. GEICO American auto insurance company, GEICO (The Government Employees Insurance Company) had rolled out a new “virtual assistant” (which is basically a chatbot). The chatbot, called “Kate,” is available through the company’s mobile app. Kate allows customers to get their questions answered quickly, view billing information, and inquire about policy coverages. Apart from answering queries, Kate can even help customers navigate the GEICO mobile app. The chatbot is available 24/7. 6. ICICI Lombard General Insurance Ltd ICICI Lombard General Insurance has launched a chatbot platform known as MyRA which has been designed to answer customer queries regarding insurance policy proposals.  Through the chatbot, the company can now answer customer queries in real-time. With the use of Artificial Intelligence, the company is now able to automate the query management process without human intervention. Since its launch, the chatbot has come as a great help to over 60,000 customers as it has been utilized in almost 4000 cases. MyRA also allows customers to compare products which make it easy for customers to make better decisions. If the chatbot is unable to address customer queries, then it transfers the chat to a customer care executive.  7. Birla Sun Life Insurance Birla Sun Life Insurance (BSLI) is the first insurance company in India to launch a chatbot. The chatbot is known as Disha and it has been designed to communicate with customers in a natural way to provide an enhanced customer experience. The chatbot can help customers with their basic needs, issues, and obtain instant premium quotes. With a personal interface, BSLI’s chatbot is faster and makes query-solving interesting. Customers can enter their query either through the menus (which the chatbot shows) or by typing messages. The chatbot is available 24/7and customers can access it through various platforms including the desktop website, mobile, and Facebook. 8. Insurify Online car insurance shopping platform Insurify has leveraged social media and Artificial Intelligence by implementing an intuitive chatbot (“virtual insurance agent” as they call it) on Facebook Messenger. The chatbot can help customers compare car insurance quotes from top companies. The chatbot can match the right coverage package for customers according to their needs. The virtual insurance agent even monitors rates and let customers know about the best deals. Best of all, it is available 24/7. 9. Excalibur Insurance Excalibur Insurance has integrated a chatbot named “Aiden” which appears on the home page of the insurance firm’s website.  According to the CEO and president of Excalibur Insurance, Jeff Roy, the acronym “AIDEN” stands for “Artificial Intelligent Digital Excalibur Navigator.” The chatbot has been designed to help customers navigate the website 24/7. Apart from being able to handle multiple customers at once, AIDEN also provides consistent service. Jeff Roy foresees the future iterations of the chatbot as “Robo-advisors.” 10. GetInsured California-based health insurance company GetInsured has launched a chatbot that works on Facebook Messenger. The chatbot has been designed to help the customers

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Enterprise Mobility Solutions : How to Overcome the Security Threats

September 13, 2017

Work environment, as you might already know, is dominated by mobile devices, Wi-Fi-networks, and cloud applications to ensure employees are productive and collaborative. While an employee accesses critical corporate data through multiple mobile devices remotely, organizations must make sure there is secure access to data irrespective of the device used. Every enterprise must take steps to protect its data from security threats that may cause irretrievable loss to the organization and its customers. Implementing BYOD policies, securing mobile collaboration and deploying safe desktop virtualization are important steps required to guard against looming threats. Let us take a look at the various ways available today to overcome enterprise mobile data security threats.   Control and manage access to Apps Many organizations encourage employees to bring their own devices at work and access various cloud applications. Data hosted in cloud apps may be scattered across corporate data centers and public cloud storage. It is mandatory for enterprise IT to gain full control over these applications to ensure secure data communication. Enterprise IT must implement solutions that ensure authorized access to applications through multi-factor authentication with conditional BYOD policies. It should also make sure that employee productivity is not compromised by implementing single sign-in across authorized devices and tracking suspicious sign-ins. Security of underlying infrastructure Infrastructure deployed within an enterprise plays a crucial role in determining security of enterprise mobility.  Going beyond the ambit of hand-held devices, enterprise mobility strategy must include smarter networks, intelligent wireless access points and robust MDM solution to control mobility and data generated by mobile devices. Network A smart network can control how specific apps and data within those apps behave. For instance, networks with firewall can integrate with connected devices to identify loads of applications running on the devices. It can further monitor how applications behave by tracking data leakage and what content users share or post on social media. Such network services can also be used to detect malicious devices, unsafe traffic, or cyber attack on devices and apps. Wireless access points The latest technology in wireless access points and controllers gives employees freedom to move within the organization premises without losing the network. It enables them to connect to the network with connected hardware devices closest to them like printers, coffee machines, servers etc. Such intelligent wireless networks can enforce single SSID (Service Set Identifier) to identify connected device, user, content requested and authentication method used.  And when employees step outside the premises, access to critical data can be cut off granting access only to limited enterprise cloud apps through Wi-Fi or mobile internet. Robust MDM solution Mobile device management is a software tool to protect critical data accessible through mobiles. Devices connected within the enterprise apps are monitored continuously to ensure they are functioning rightly. MDM is a comprehensive tool with additional features like app management, file synchronization, data security, and device support. MDM solution must be compatible with an array of mobile devices used including smartphones, tablets, and wearable gadgets.  It must take into account various operating systems and applications.  The solution must have an ability to target specific devices and add/ remove devices from the network Control and manage access to mobile devices Controlling access to devices instantly is critical in case of device theft/ loss or attack on device.  It is important to apply posture validation along with application access policy to lessen the damage caused by device theft.  With suitable mobility solutions, enterprise IT is enabled to secure native as well as web apps on mobile devices. Data protection is of utmost concern when a device is stolen. Remote lock and remote wiping are vital features to include in your security solution.  It is further possible to remove passwords from mobile apps to prevent unauthorized access. Moreover, whether it is a company-owned device or a personal device, mobility solutions can automatically push email, Wi-Fi and VPN settings to ensure device compliance. Determine permission levels to data access Data access through mobiles is done remotely. Enterprises have to be vigilant to monitor who views what data and how securely the data is viewed. Depending on what role user has within the organization, data access permission is granted accordingly.  Data is broadly classified into public data, confidential data, restricted data. Public data can be viewed by all users on all devices. So you don’t really need to apply security gateways or enable restricted access. Confidential data refers to data with low to medium risk to organization and comes with a layer of security to prevent universal access. Such data can be controlled by enabling virtualized access to personal devices.   Restricted data, on the contrary, is classified under high risk category and must be controlled with high level of security.  Access to restricted data should only be available through enterprise-grade devices and within the boundaries of enterprise. Ensure mobility compliance The sheer extent of data floating across mobile devices is mind-boggling. An enterprise is at a high risk of lawsuits by customers if their data is mishandled by any employee either by intent or negligence. To protect enterprise reputation and minimize financial loss to business, it is necessary to implement mobility compliance. There are more than 300 privacy and security related standards that as a responsible organization must adhere to. When devising an enterprise mobility strategy, you must ensure that all processes orient with law of the land. Data protection norms and corporate data security guidelines must be followed stringently to get legal protection in case of any mishap. EMM integration with apps Enterprise mobility management vendors must provide integration with critical cloud applications.  Integration can be done via wrapping tools or with vendor-provided SDKs. Wrapping tools enable you to manage apps without actually tweaking their source code because the app code is automatically decompiled. It is suitable for basic app management like preventing data transfer, blocking copy/ paste and screen capture functions. However, SDKs (Software Development Kits) offer advanced level of integration with a set of tools to implement functionality

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Applications of Blockchain Technology in FinTech

August 30, 2017

Blockchain A blockchain is a distributed database which is used to maintain a continuously growing list of records, called blocks. Each block consists of two sections; one is timestamp which contain the update time information and another contains a link to the previous block. A blockchain is a managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once a block is recorded the data in the given block cannot be altered without the altering all subsequent blocks and collusion of network. On functional point of view, a blockchain can serve as “an open, distributed ledger that can record transactions between two parties efficiently and effectively and in a verifiable and permanent way. The distributed ledger itself can also be programmed to trigger transactions automatically.” History The first blockchain was conceptualized by Satoshi Nakamoto in 2008 & implemented as a component of the digital currency which is known as bitcoin. For bitcoin the blockchain act as a public ledger for all the transactions. Through the use of peer-to-peer network and a distributed timestamp server a blockchain database is managed autonomously. Bitcoin is a use case of blockchain. Blockchain made the bitcoin the first digital currency which solves the problem of double spending without requiring a trusted administrator. Strengths Distributed resilience and control Decentralized network Open source Security and modern cryptography Asset provenance Native asset creation Dynamic and fluid value exchange Opportunities Reduced transaction costs Business process acceleration and efficiency Reduced fraud Reduced systemic risk Monetary democratization New business-model enablement Application retionalization and redundancy Weaknesses Lack of ledger interoperability Customer unfamiliarity and poor user experience Lack of intraledger and interledger governance Lack of hardened/tested technology Limitations of smart contract code programming model Wallet and key management Poor tooling and poor developer user experience Skills scarcity and cost Immature scalability Lack of trust in new technology suppliers Threats Legal jurisdictional barriers Politics and hostile nation-state actors Technology failures Institutional adoption barriers Divergent blockchains Ledger conflicts/competition Poor governance FinTech FinTech is a short term for financial technology is an industry composed of companies that uses new technology and innovation. FinTech companies belong to the banking and financial service sector and they compete with traditional financial institutions and intermediaries in the delivery of financial services. A fintech company can be both startup and established financial and technology companies trying to replace or enhance the usage of financial services of incumbent companies. Today the fintech industry is growing at a rate of 23% year on year. Why FinTech The year 2007-08 during Global Financial Crisis when all the financial companies were melting down. At this time the FinTech companies started to grow from a corner of the financial world. The reason for the raise of the fintech companies are as follows: Anger with the existing banking system: User throughout the world got angry on exiting banking system for limited customer support and transparency. Widespread lack of trust with bank and financial institute post crisis. After the global crisis, banks and financial institute stopped lending to businesses and individuals. Lack of technological advancement. Blockchain in FinTech The raise of fintech companies take place when the banking and financial companies stop the innovation in financial sector. The biggest challenge a fintech company is trust. How to make people trust them, and how to make a safe and secure financial product. Banks and financial companies have huge cash reserve using which they create best in class secure network on which banking transactions take place. Fintech companies lacks fund which restrict them in developing or procuring high security system. Here comes the blockchain technology. Blockchain is cheap in terms of developing and also highly secure. With blockchain a fintech company will be able to manage their financial product very easily and securely. With blockchain technology fintech companies are now able to create various financial products with very less amount of budget to serve their customer. As blockchain is a series of block the company can track the complete life cycle of a financial transaction. Blockchain has given the opportunity to create secure and safe financial product and providing fintech the opportunity to bring innovation in the financial sector. Before we look into the Blockchain applications in the financial industry, let us the see the Blockchain’s benefits: Overstock Overstock is one of the largest US online retailers, decided to focus on building the crypto-capitalism future. In the year 2016 Overstock launched their blockchain based trading platform for public and private. This platform will allow instant and secure share trading online. Openbazar Openbazar is a startup which introduce fee-free online marketplace similar to eBay which is been powered by Blockchain. The platform promotes an active exchange of goods and services between two parties without relying on a risky centralized authority. It enables more and more people to start their e-commerce business without paying for any additional e-commerce tools. Sentbe Sentbe is a fintech company. They provide P2P micro-payments. While many companies provide similar kind of service, Sentbe’s service completely depends on the blockchain. Sentbe offers 60% less expensive service for sending money aboard and offers cash pickup. Abra Abra is also a P2P micro-payment service provider whose main target market is US. Abra provide free P2P money transfers and receiving pay-outs in bank or in cash.   There are many more blockchain use cases given below: Digital Content/Documents, Storage & Delivery Startups: BitProof, Blockcai, Ascribe, Artplus, Chainy.Link, Stampery, Blocktech (Alexandria), Bisantyum, Blockparti, The Rudimental, BlockCDN Authentication & Authorization Startups: The Real McCoy, Degree of Trust, Everpass, BlockVerify Digital Identify Startups: Sho Card, Uniquid, Onename, Trustatom Marketplace Startup: MyPower Smart Contracts Startups: Otonomius, Mirror, Symbiont, New system Technologies Real Estate Startup: Factom Diamond Startup: Everledger Gold & Silver Startups: BitShares, Real Asset Co., DigitalTangible (Serica), Bit Reserve Review/Endorsement Startups: TRST.im, Asimov (recruitment services), The World Table Internet of Things Startup: Filament (industry IOT), Chimerainc.in, ePlug Network Strucutre and APIs Startups: Ethereum, Eris, Codius, NXT, Namecoi, Coloredcoins, Helloblock, Counterparty, Mastercoin, Coron, BlockCypher, Chain.com, Chromaway Currency Exchange & Remittance Startups:

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5 Common Mistakes Mobile App Developers Should Avoid

May 25, 2017

The app market is thriving. Competition is fierce and challenges are manifold. Developing a unique and useable mobile app and satisfying the clients and particularly the end users is not an easy task.  Silicon Valley analyst Andrew Chen informs that nearly 90 % of the app users stop using the apps three months after installation. This can be alarming for both the mobile app development company and the client. Though there can be several factors owing to the disappointing performance of an app, the mobile app developers can avoid some mistakes during the development process, which might enhance the user experience. As a 19-year-old organization, which specialises in mobile app development and has served some of the best companies in the world, we list 5 common mistakes that a mobile app developer should avoid during the pre and post launch phases of a mobile app. Dare not overlook or underestimate mobile app marketing You have developed the greatest product on earth and you are certain the product will overwhelm the world. But wait, if you don’t market the product, how would your customer know the product exists? As the competition among the mobile app developers gets ferocious, companies across the globe are coming up with omnichannel marketing strategies even before the apps are launched in the market. And mind you, if your marketing strategies are effectively placed, the app will generate the required user base even before it hits the market.   Here are a few tips you need to keep in mind in mobile app marketing: Don’t wait till you submit the app to the app store to launch your marketing campaign. Research your target audience and define the audience base of your app before you start your marketing. This helps you to streamline the market and identify the trends. Once your app is made available in the app store or play store, start marketing the app vigorously to escalate the visibility of the app and reach the right end user.   Do or don’t you want an ROI from your mobile app? Include some revenue generation model within the app. As a company, which has developed robust mobile apps for top companies in BFSI, real estate, retail, healthcare, media and entertainment and other sectors, we propose you to “continuously market your mobile app post launch too” to increase the ROI. Marketing is no short-term process.   In fact, this is one of the major areas, which some amateurish mobile app developers overlook and hence lose out to its competitors. But remember, if you want your app to generate ROI, you ought to have a holistic approach to your marketing strategies. 2. Let’s not overstuff the mobile app with too many features Silicon Valley analyst Andrew Chen also revealed that an average app loses 77 % of its users within three days after installation. Now, as a mobile app developer, what should you do right to retain the end user for your app? As a developer, firstly you should understand the purpose of the app. It’s also important to make a mobile app user-friendly and put in uncomplicated features so that the end-user need not put in too much mental effort to navigate the app. This is again one area where new app developers go wrong and often end up developing app with too many “ultra cool” features. Just remember: more complicated the features and options will be; less satisfied the end-user will be. As a mobile app developer, it’s important to remember a few factors: Not every user is tech-savvy User experience is paramount The app should not occupy too much memory space At times, less is more and this holds true in the development of some mobile apps (again, remember the objective of your mobile app). Excessive features distract the users, make the app heavy and might not leave him/her with good experience. Result: users delete the app. Did you know entertainment app Shazam came up with a revised slimmed down version after it met with reviews for being cushioned with too many features?   Hence, it’s better to focus on the key features in the first stages of developing an app. One always has the option to add more features in the later versions. But let’s get clear here: improving the user experience in the later versions need not always mean adding new features. App developers should pay heed to the reviews of the customers and act accordingly. We, at Indus Net Technologies, always believe in creating the best user-friendly mobile apps. Swarnali Nandy, Project Manager- Enterprise Mobility, Indus Net Technologies, admits that adding an excessive number of functions in a mobile app leave the users befuddled. “The app should have a simple flow.  And yes, the features have to be user-friendly but at the same time the applications need to be stable. Why is WhatsApp so popular among the users? It’s very easy to use and even a non-tech person can handle it. We make easy-to-use, quality apps with timely delivery,” says Nandy, who along with her team has developed some of the most successful mobile apps such as IDBI Federal, Axis Bank, and Bridgestone to mention a few for Indus Net Technologies. 3. Better have plans to fix bugs even after the launch of the app There comes a time in the business when you meet clients who want you to develop a mobile app within a month. But let’s get the obvious out of the way. When it comes to bug, users can be merciless and might never install the app again on their smartphone. So, mobile app developers should be careful how to fix bugs in an app even after it has been released in the market. Mobile app developers, who are new in the business, might want to rush through work to impress clients. This is where these new kids on the block falter. One should always be extra cautious about mobile app security and test the app across all

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5 Tech Trends that will Dominate 2017

May 11, 2017

We are experiencing digital revolution. From IoT and Smart Home Tech, automation, artificial intelligence, machine learning, to intelligent apps, extraordinary advancements are being made in technology each day. On National Technology Day, Indus Net Technologies draws up a list of 5 technologies that would continue to remain in news this year. Artificial Intelligence (AI) and Machine Learning Today, Artificial Intelligence (AI) and Machine Learning (ML), a subset of AI, are no longer trendy expressions. According to Hubspot, 90 % of the world’s data has been created in the previous two years. With so much data being generated every minute, AI has turned into the potential transformative technology, which would just improve with time. In fact, today AI is being applied to almost every field. Google and Microsoft already have AI services in their clouds. But 2017 will see more use cases in AI and ML. These two path-breaking technologies will go more commonplace and more tech giants (read: Baidu, HP, Intel, and NVIDIA) will be focussing on ML, thus escalating the competition. AI and ML, which include technologies such as deep learning, neural networks, and natural-language processing, will also help organizations to come up with enhanced, strategic decisions. 2017 will be the year when China will rise as a pivotal player in AI. Andrew Ng, chief scientist of Baidu, the Chinese Internet services company, had recently announced that AI is “the new electricity.” Also, the Chinese government and other tech companies in China are vigorously infusing cash in the recent advances of AI. Narrative Science has reported that 62% of enterprises will utilize AI by 2018. AI and ML are already playing a crucial role in revamping healthcare, transport, finance, education and entertainment sectors. In the coming days, we will witness all the more such occurrences where AI and ML will play a humongous role revolutionizing banking and fintech companies especially when it comes to real-time transactions and customer personalization. It would take more time to fully come up with driverless cars but AI and ML will be executed in the transport arena particularly in simplifying distribution networks and optimizing logistics. AI’s potential to boost economic growth Source: Accenture and Frontier Economics Virtual Reality & Augmented Reality 2016 saw some major accomplishments in Augmented Reality (AR) and Virtual Reality (VR), especially the AR game, Pokemon Go, which was downloaded over 500 million times since making its debut in July 2016. But now, these two budding technologies have moved beyond the gaming and entertainment territories and have discovered use cases in the field of education, travel and hospitality, banking, real estate and automotive. Major tech giants of the world such as Qualcomm, Samsung, HTC, and Nokia have already launched their VR and AR headsets. Microsoft, Google, and Facebook are also getting fiercely competitive in the AR space. And with Apple’s AR glasses rumoured to be arriving this year, the market for immersive technologies may turn into a hot cake in 2017. Also, reports suggest that venues will soon be capable of streaming live shows for audiences, especially for those who don’t want to leave their homes. 2017 would be a major year for VR and AR and the usage of these technologies in business should aggravate. Also, the shipments of VR and AR headsets might see an ascent in 2017. The technological innovations also have the potential to provide customers with an updated user experience. Also, this year tech giants will pay more attention to the enhancement in setup, refined resolution and price of these two youthful technologies. IoT and Smart Home Tech As indicated by Gartner 8.4 Billion Connected “Things” Will Be in Use in 2017, which is an increase of 31 % from 2016. Gartner also predicts that the average home will feature 500 smart home devices by 2022. There is a rising demand for home automation and smart home of the future with Internet of Things (IoT) technologies are hot topics in the market for quite some time now. According to Statista, smart home revenue in the US is projected to reach $14.6 billion in 2017. Presently, there is strict competition in the market with regards to smart home technology, but certain worries such as security and interoperability are posing a hindrance to this technological innovation. Smart home IoT devices minimize costs and preserve energy and with big players such as Google, Apple, and Amazon, already being involved in this smart home space, we expect smart home IoT devices to go further mainstream this year. Truth be told, the key challenge to smart home tech offer is security and companies will update IoT devices to understand and tackle the security challenges with smart homes. Tech companies will likewise pay more heed to remote home monitoring this year. Automation Today AI is being used to detect critical diseases, Tesla and Uber are experimenting with self-driving cars, and robots are being increasingly designed to deal with tedious workload and manage repetitive work. Automation has begun and it’s happening for real. Automation will transform the global work force by reducing the production cost, and enhancing the quality and reliability. The way the tech companies and venture capitalists are imbuing cash and innovation here, it will only get stronger with time. A few years ago, robots mainly accomplished physical work but today, they have developed ‘cognitive capabilities’ and can lessen repetitive manual work. With greater headway in AI, machine learning and robotics, automation will become commonplace this year. Also, with automation of workflow gradually entering the professional space, employees can invest more time in vital strategic decisions. Intelligent apps AI and ML are taking the world by storm and are soon becoming an inherent part of our everyday life. Intelligent apps, which have superior integrated capabilities such as virtual personal assistants (VPAs) and ML, are more useful and powerful. Thus, they are capable of making human tasks easier and swift (by prioritizing emails). Also, intelligent apps such as virtual customer assistants (VCAs) are more specialized in customer service and sales. According

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How Businesses are using Chatbots today?

May 9, 2017

Exactly a year ago, Mark Zuckerberg had said that people will be able to talk to Messenger bots just like they talk to friends. Since then, there has been a lot of chatter about the evolution of chatbots and how these automated computer software programmes will make our job easier. Presently in the world, messaging apps have become the easiest and most effective form of communication. In this age, chatbots, powered by Artificial Intelligence (AI), has become the key method customers interact with business.   Chatbot is the newest kid in the world of tech. Chatbot is just like your personal customer service assistant. And, everybody (read: big, small and medium-sized companies) is obsessed with it. From booking dinner reservations, ordering flowers to renewing insurance policies, chatbots have certainly made our life manageable, easier and productive. What is a chatbot? According to ChatbotsMagazine.com, “A chatbot is a service, powered by rules and sometimes artificial intelligence that you interact with via a chat interface.” You can explain your needs via text messages and chatbots, powered with AI, will help you to organize your life in a better way. And the best part is: the user does not have to download and install an app. All he/she needs to do is type some text and they will get answers instantaneously. From WeChat, Slack, Kik, Telegram to Facebook Messenger and Amazon Alexa, bots are becoming the main interface between humans and machines. Chatbots have surely become the biggest thing in the world of technology. 2016 saw the evolution of chatbots in the business world, especially companies dealing with a huge database. Though chatbots are still in the early stages of adoption among the masses, however, the way chatbots are influencing the tech world; it’s only a matter of time that the masses and businesses become increasingly dependent on this computer software programme. According to a report (Humanity in the Machine) from media and marketing services company Mindshare, 63 % of people would consider messaging an online chatbot to get in touch with a brand or business. Yes, that’s the enormous power of chatbots today.   Biggest players such as Facebook, Google, Amazon, Apple, and Microsoft are already in the race of chatbots. Microsoft tested its new AI chatbot, “Zo”, in December 2016. Understanding the disruptive potential of these chatbots, several companies across the globe are jumping onto this bandwagon of ‘chatbots’ and provide interesting services to customers. Today, intelligent AI chatbots use machine learning so that the chatbots can understand the reference and perform much more intricate tasks than what a bot does.  AI-powered chatbots are not only helping consumers save time at work. They have given a huge thrust to the digital ecosystem, especially when it comes to e-commerce advice, automated customer support, and conversational experiences.   Phil Libin, managing director at General Catalyst is all praise for bots. “Within a few years bots will be in the fabric of everything,” he had reportedly said.   Evolution of Chatbots Chatbots aren’t new. They have been in existence since 1966, when an MIT professor, Joseph Weizenbaum, developed an AI agent named ELIZA. In the early 2000s, Chatbot Smarterchild became popular when it was made available on AOL Instant Messenger and Windows Live Messenger (previously MSN Messenger). As mentioned, 2016 was the year when the world started taking chatbots seriously. Today, chatbots are giving tough competition to mobile applications. According to an article in engadget, chatbots are new-age mobile apps. Businesses all across the globe are investing heavily in the chat economy. And with the exponential rise in AI, tech companies are hell bent to develop functional and interactive bots to engage with consumers in a superior and effective way. Chatbots can be found on platforms: WeChat Facebook Messenger Kik Telegram Apple iMessage Slack SMS In a recent survey by Oracle, 80% of business owners stated they want to implement chatbots by 2020. So, what are the main factors favouring chatbots? Chatbots are always available unlike customer care executives, which work on hourly basis. This results in better customer interaction and increases the brand’s engagement with the customers.   Businesses can use chatbots to engage in one-on-one conversation with countless customers via messenger Unlike a mobile app, you don’t need to download a chatbot. Just search for a chatbot from within a messaging app and start chatting. Hence, it reduces the number of apps on your phone. Developing a chatbot is less expensive and hassle-free in comparison to developing an app for a business The simple and easy interface makes chatbot easy to use Depending on the relevant data collected by the chatbots from the customer, the business owners can customize messages for the potential consumers, thus achieving higher conversion rates Chatbots can help you streamline the operations of your business, analyze customer data and improve marketing and sales. Chatbots can be useful to promote new products by notifying the customers. Though this hottest young technology is still finding its ground, it goes without saying that today large brands and also small businesses are rolling out chatbots to streamline their working operations. Here are the 5 key sectors where chatbots are creating maximum hullabaloo: Banking and finance Travel and hospitality Restaurants Healthcare Ecommerce Chatbots in banking and finance   The banking and financial sector is one of the earliest adopters of chatbots. From handling everyday payments, balance enquiry and updates, history of transactions to the renewal of insurance policies, fraud redemption, and money transfers, AI-powered chatbots have moved out of the labs and is redefining the financial and banking operations. With chatbots, the banking and insurance officials can have a more effective customer engagement. Also, the work force replaced by chatbots can be employed for other crucial activities in the banking sector. In March 2017, Next Insurance launched their first chatbot for Facebook Messenger. This definitely benefitted the small businesses to buy insurance via chatbot. Next Co-Founder and CEO Guy Goldstein, was quoted saying, “70% of our customers are buying insurance on their phones. Enabling

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Let us walk you through the MWC 2017

March 20, 2017

Let us walk you through the MWC 2017 (in less than 4 minutes – it’s worth every second) Mobile World Congress (MWC) has evolved as a major go-to-event for the mobile industry. It is much more than an expo. It is a meeting point of business leaders from mobile industry, tech-geeks, enthusiasts, startups and other eco system players. It has amazing product launches that make waves around the world. It has thought-provoking keynote and panel sessions, and last but not the least – a peek into the future through 4YFN (4-years-from-now) expo and innovative exhibits. In recent years, we have seen an exponential increase in business executives from totally unrelated business domains, which is a clear indication on the impact of digital on every business, and mobile’s leading role in the same. As a premium mobile technology company, MWC finds a permanent place in our annual calendar. This year we saw four major trends that are worth thinking through:  VR/AR is for real and has application Artificial Intelligence (AI) is here to stay  Innovation Multiplier through SDKs 5G is round the corner And, not to forget the media stunt pulled by Nokia, by bringing back a new colorful avatar of Nokia 3310, which was its iconic phone in early 2000. It was great fun, generated a lot of interest on social media, got Nokia a brand boost – but that was the end of its impact, to be honest. VR/AR is for real, and has application. Virtual Reality (VR) and Augmented Reality (AR) seems to be coming of age.We now see widespread adoption,piped up due to the major sale of VR headsets last Christmas. Every gadget manufacturer – Samsung Electronics, Qualcomm, Nokia, etc. have their own headset to cash in the demand of this new gadget. We strongly believe that VR and AR will continue to gain traction with more applications and commercially feasible use cases emerging at every corner. Bharat Berlia, CIO of Indus Net Technologies states – “Certain industries like training and education, real estate and complex engineering have gained massively from using VR and AR. VR can provide a real world interface, and AR can set the context.” He further cites the example of a major engineering company which uses VR to conduct training on airline engine maintenance across their workshops around the world, without getting into logistics nightmare. VR and AR are also finding major application in advertising and communication. Did you know a 360-degree immersive video advertisement of Hong Kong Airlines was 35x more effective than the same advertisement in 2D format? The increasing importance of immersive VR videos was one of the most-discussed topics at MWC. Brands and advertisers will soon be rushing to create VR content driven by emotional storytelling, to engage better with their target audience.Indus Net  Technologies also develops VR and AR content and applications, including mobile games; for its global clientele. Artificial Intelligence (AI) is here to stay Artificial Intelligence (AI) finally seems to be stepping out of the academia and making its impact felt in the hyper-competitive commercial world of digital. And, it has moved at a faster speed than we imagined even few years back. We have near perfect voice-to-text conversion, which might eventually change the way we interact with computer or computer driven systems. Our image recognition is improving beyond believe, and it is visible in form of the autonomous car madness, that we see and hear everyday. Robocar, a self-driving electric racing car using Artificial Intelligence (AI), manufactured by Roborace, drew a lot of attention when it was launched at MWC this year. LINE also announced that it is developing an AI digital assistant, called Clova. Olay also unveiled an AI-powered selfie skincare app, which will help women with skin problems. Yes, it goes without saying that AI has taken the global tech community by storm. According to Global Market Insights, the global AI market is likely to grow nearly 81% compound annual growth rate (CAGR) from 2016 to 2024. Interestingly, Abhishek Rungta, CEO, who juggles multiple responsibilities has been using bots, powered by AI to streamline his daily plans. He is enamoured by Eva bot, which helps him in sending gifts to his business clients. Abhishek also uses Amy Ingram, a bot, to schedule his meetings. “This saves time and helps me to organize my day better.”- admits Abhishek. Innovation Multiplier through SDKs We also met several startups and businesses who are doing innovative stuff, and are letting you build those innovations within your business app through their SDKs and APIs, which are licensed on pay-per-use or pay-per-build. The range of innovation is mind boggling, starting from: Consumer behavior tracking App analytics VR/AR capabilities Bot engines AI engines / Image recognition and processing App testing App performance improvement. The list is endless. This area will become extremely busy in years to come and innovation from the smallest companies will find it way to the largest corporation through such an ecosystem. 5G is round the corner Though still in discovery mode, and mostly in labs, 5G is being talked about a lot. 5G is expected to change the way mobile works and how it is used. The impact is far beyond speeds,higher throughput or greater energy efficiency. The applications that will evolve with connected societies will be far more critical – be it sending senses across the network, app as a service, friction-less shopping experience, or driverless vehicles, or banking for the unbanked. Technology leaders from across the value chain have been hard at work to develop 5G concepts and prototype use-cases, many of which will serve as the backbone of modern 5G networks. It was a great experience to watch some of the research demos and learn about the use cases. And, last but not the least, we saw and experienced those phones which we will see in commonplace in next few months and years. There were lots of interesting product launches, but we were so overwhelmed by the above areas, that we did not

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Why Swift Is Being Used to Build Apps on iOS?

February 20, 2017

For a long time now, developing apps for iOS and Mac devices has entailed learning Objective C, and building upon what already existed in C. A few years ago, Apple announced Swift, its own open source programming language that is quickly finding acceptance among developers. Swift was built to replace C and Objective-C as the de-facto programming languages of Apple platforms, both traditional and embedded. There are many advantages to using Swift as the primary development language for Apple platforms. Swift is easy Most younger developers are familiar with languages such as Python and often find the complexity of C and its derivative Objective-C, difficult. For those who are looking for a powerful but easy programming language, Swift is a great choice. Swift does not have any of the kinks that come with Objective-C. You do not have to use those multiple punctuation marks, you do not need to use frackers too many times, and surprisingly, coding in Swift is almost like coding in English language. What’s more, Swift is easy to learn, and easy to execute. People who know other programming language will find it easier to adopt Swift. Swift is safer Objective-C has always been a source of bugs and errors. While it is a powerful language, the fact that it is so complex makes it difficult to secure. With many loopholes in it, Objective-C has been a security analyst’s nightmare. Not so with Swift. Swift is very clear and warns you when you write sub-standard code. These compiler errors help you to identify mistakes as you code, and you will be able to fix bugs and also save money. For instance, if you get your app developed by an agency in Swift, you will probably be focusing less on fixing bugs and conducting your business efficiently. Swift reduces errors It is a well known fact that developers maintain 2 files when working with Objective-C. What Swift does is, it eliminates the need for developers to work with two files. This reduces errors greatly, and ensures that the code written for an app is clean and error-free. The way Swift is built is also partly responsible for making it less error-prone than other programme languages. It ensures that unexpected behaviour is reduced, and apps function as they are required to. You don’t want your customers to write that your app started to act strangely in the reviews, do you? Swift is cohesive There is a lot of cohesion within Swift. It unifies the programming language in such a way that you do not have to worry about a memory management. Apple ensures that Swift manages memory automatically and that too in a very efficient manner. You can expect your apps to function without lags, and this is very important in graphic-intensive platforms such as iOS. With tactile development coming into picture, this becomes all the more important. Your users will not feel that your app is broken, when their tactile interactions run smoothly. Swift reduces ‘legacy’ Swift is a compact language and it does. not require reams of code to be written. If you have already begun to process of moving from legacy systems to something more modern, consider moving to Swift development part of that strategy. When you get your app developed in Swift, you are ensuring that the code is simple. This means, if there are any changes to be made, or any customization, it is a lot swifter, pun intended. In fact, if you already have an app developed in Objective-C, you can reduce the line of code by almost 3 times. Swift is cleaner As discussed earlier, Swift requires less code, and moves away from legacy programming techniques followed in Objective-C. This ensures that the language is cleaner and simpler. This is reflected in the app quality as well. Your app will feel a lot less cluttered and easier to work with. And of course, if you are looking for customization for changes within your app, Swift is easy to customize as it is cleaner. Thanks to the implicit namespaces within Swift, your developer can maintain the same code file across several projects of yours. This eliminates the bookkeeping which is required in Objective-C. Swift features dynamic libraries Swift comes with dynamic libraries which allow your developer to link chunks of executable code to your app. Whenever newer versions of Swift are released, the apps gets easier to update. While dynamic libraries have been supported by Macs for quite sometime, iOS now supports them too. This means there is no need to write code unnecessarily each time Swift is updated. This reduces your overall expenditure on development. Overall, this helps to maintain a responsiveness on iOS apps, while also enhancing performance. Swift enhances interaction Swift comes with something called Swift Playgrounds. This ensures that developers can test code without having to create the whole app. The Playground makes the process of building an app very interactive, and developers can continuously check small packets of codes to see if they are going in the right direction. If you are thinking about custom views and specific customization, this is something that will certainly help you reduce time and costs. Most importantly, the entire app need not be built just to check if a part of the application is working well. Playgrounds allows your developer to keep checking the app’s code as he builds it. Swift is part of the future of iOS and Mac OS development While objective C will continue to find relevance and takers, Swift will be increasingly used by developers, especially the Youngers ones who have just begun to start their careers. This is mostly because older professionals are more comfortable working with Objective-C, whereas the younger ones are more comfortable working with Swift. While Swift has its obvious advantages, it does not make it inherently superior Objective-C, which is a more complex and time-tested language. Both have their uses, advantages and disadvantages. However do speak too your developer to understand which

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How Beacons and Proximity Marketing Can Enhance Sales at Stores?

February 8, 2017

Location-based marketing has been around for a while now. Using the latest in technology, stores can send marketing messages to shoppers’ smartphones when they are in the vicinity of stores. This is made possible by the use of beacons, or iBeacons, which were introduced by Apple in 2013. These Bluetooth low energy (BLE) devices broadcast messages one-way, and can be used to provide information about deals products, make billing easier, etc. Most importantly, beacons have begun to revolutionize the way stores market their products and services. In this article, let us take a look at how proximity marketing makes use of beacons. Quick facts According to an article published on the Forbes:   53% of users are willing to share their location with stores. 57% of users are open to the idea of receiving location-based ads. 63% feel coupons on mobile phones are great. 62% share deals they find interesting with their friends. Certainly, these facts point toward a trend that is likely going to normalise location-based marketing that makes use of beacons. What do beacons do to help drive sales? Beacons help in providing several payment options to customers. Loyalty programs can be shared via beacons when customers are in store. Recommend products based on individual user attributes Broadcast coupon details to customers who are likely to make purchases. Help customers navigate stores and find products they want easily. Here is how marketers can use beacons and proximity marketing to drive sales:  Gain customer insights Beacons help you to understand how your customers are spending money, how long they spend time at your store on average and what they are doing while they are at your store. This information can be further processed to design personalized campaigns that help to drive sales. Boost customer loyalty You can use beacons to reward customers who may arrive at your store repeatedly. The moment they walk in, you can send coupons and if they are regulars, you can ask them to ‘click and shop’ for goods previously purchased. While this a utility for the customer, it drives sales for you.   Kick-start proximity marketing Beacons help you to gain a variety of information based the customer. One of these is their location data. Location-based information can be used to kick start proximity marketing, suggesting information, products and services which may be available close to where your customer is around at that particular moment. Offer discounts and coupons Nothing entices customers more than a good discount or a coupon. If you want to turn walk-ins to sales, you can use beacons to send coupons to users’ smartphones, so that they purchase something, instead of walking away. Geo-targeted messages are known to drive sales, especially if you have a store in a place where footfalls are high. Even if they are in the vicinity to buy something else, a coupon or a discount that flashes on their screen may tempt them to walk into your store. Help customers Beacons are all about the location. If your customer is looking for something, beacons can be used to help them find the right aisle, or the right product. If it is a man that walks into your store, you would probably direct him to the men’s section of your clothing store, instead of him having to look or them himself. The possibilities are endless. Beacons can help you maximize sales by customizing location-targeted messages. Enable cross-channel experience With so many options to make sales happen these days, many stores are opting for online sales. While this takes place mostly on desktops or smartphones, brick and mortar stores are still around. By offering a custom sales experience across all these channels, beacons help you to offer a cross-channel experience. This is important when your competitors are already engaging in multi-channel delivery.   Thwart shoplifting While this is not part of traditional marketing, beacons do help you to thwart shoplifting when they happen. Though it may not directly boost sales, preventing shoplifting helps you to save valuable products which will add up to your bottom-line. Many supermarkets and departmental stores have begun to use beacons to monitor and track customers when they are in the store. Data and analytics Analysis if data that is collected by beacons provides valuable information about the kind of people who purchase your products. This is the target demographic that you should be targeting in order to boost sales. There are several analytic tools available to help retailers drive sales with the help of beacon-based analytics. Business intelligence tools can be customized to integrate beacon data and help you come up with useful insights.   3 Examples of companies using beacons to enhance sales:   Woolworths, a British supermarket chain has successfully used beacons across its 254 stores. Push notifications are sent too consumers when they arrive within a certain radius of the store so that they can ‘click and collect’. Venerable Macy’s installed more than 4,000 beacons to provide an omni-channel retail experience. The store also brought a beacon-triggered mobile game which allowed users to win Macy’s coupons and prizes. McDonald’s used beacons to engage in proximity marketing across its Istanbul outlets. A loyalty app was used to target customers near McDonald outlets and then offer them coupons and try new drinks for free.        Highlights More marketing agencies believe location based data can help them design better campaigns. Proximity marketing campaigns can be weaved along with social media campaigns for a more nuanced approach. Data collected by beacons can be used to improve products. The same data can be used to manage shelves and product locations within a store. Use beacons to push discounts and coupons, which in turn help drive sales. Use analytics for a deeper insight about customers, their behaviour and their needs. Monitor and track individuals to avoid unwanted activities such as shoplifting. Provide an enhanced shopping experience to your store visitors, by combining in-store, social media, online and mobile experiences.

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How is Augmented Reality Different from Virtual Reality

February 3, 2017

Augmented reality has received a lot of attention in recent years. Yet, a lot of people are not sure how different it is from virtual reality, a technology that is closely related. While media attention has been given to both these technologies, many people erroneously use these terms interchangeably. In this article, let us take look at how these two groundbreaking technologies are different from each other. What is virtual reality? Virtual reality is a situation or environment where a person experiences simulated reality thanks to visual and auditory stimuli. This simulation takes place with the help of computer-enabled technologies. Virtual reality creates a simulated environment where the user feels like they are experiencing the simulated environment truly. Many headsets that are currently used by people to enjoy entertainment make use of this technology. Gaming, movie and entertainment industries, professional simulators for pilots and other situations make use of virtual reality,. Virtual reality usually uses Virtual reality Modeling Language (VRML) in order to create images and specify the kind of interactions that could be made possible when viewing them. What is augmented reality? Augmented reality, on the other hand, superimposes computer-generated enhancements over a reality that actually exists. Mobile technologies, app development, and even certain games make use of AR, in which the real-world is inter-weaved with digital components. Augmented reality is being used in a. number of domains, and not only in the gaming arena. If you have ever seen a youth waving hands furiously in front of a screen at a mall, he is probably playing a game that comes with some AR-ability. The main difference between VR and AR is that virtual reality provides a simulated version of a reality that doesn’t quite exist, whereas, augmented reality creates a situation where computer-enhanced situations superimpose over an existing reality. Virtual reality and augmented reality have some similarities Both virtual reality and augmented reality have some similarities. This is probably why people confuse between the two terms and use them interchangeably. if you know the similarities between the two, you will later be able to tell them apart. Both AR and VR use computer-enabled technologies to create an altered environment for the user. They are both used extensively in entertainment especially the gaming and movie industries. Both AR and VR are finding their place in health care and medicine. Surgeons are known to use virtual reality to practice their skills, while augmented reality finds its use in actual medical settings. Both technologies are used by psychologists to enhance in-vitro behaviour therapies. What are the differences then? If you would like to know the differences between AR and VR, things can get a little dicey. Augmented reality enhances an existing reality by adding images, sensations and sounds. Virtual reality creates a situation where images and sounds can feel real, though they do not exist. Virtual reality is usually delivered through a head-mounted or hand-held controller. Augmented reality can be used in a variety of situations and a specific tool may not be required. If your apps jiggle on your iPhone while trying to delete them, that is a form of augmented reality. Is it possible for them to exist together? Mixed Reality. Many times, augmented reality works in conjunction with virtual reality. This is especially true in video games, where the aforementioned young man probably felt that he really was being shaken by a. demon on the screen, thanks to haptic feedback. When virtual reality and augmented reality work together, it is known as mixed reality (MR). Mixed reality is an effort where the best of AR and VR are spun together so that the user is not only experiencing the real world in an enhanced state but is also experiencing something that probably doesn’t exist. Mixed reality is going to get a lot more popular in the future because of its applications in gaming, movies, entertainment and also events. However, if we are discussing medicine and health, AR and VR will remain operate and distinct. Now let us take a look at some of the non-traditional situations in which VR can be used: Live communication VR can be used during meetings and conferences, where the simulation of a board room can be created. A conference room can be simulated and participants can feel like they are in an actual meeting. This helps to psychologically tune the participants to be more attentive, and pay attention to what is being said during the conference or meeting, instead of getting distracted, which is possible during virtual conversations and meetings. Sales exhibitions There is no place better than a trade show to experience the goodness of virtual reality. If your company is trying to exhibit product A, you can quickly use VR to simulate an environment where visitors to the exhibition can ‘experience’ your product. In other words, sales demos become more life-like and helps in immersing clients in a simulated reality. Product testing Virtual reality also helps in testing products, even in the most adverse conditions. Thanks to virtual reality, companies and manufacturers can Crete impossible situations or difficult-to-test situations and ensure that the product doesn’t malfunction. A few of the non-traditional situations where augmented reality can be used are: Augmented reality works very well on mobile apps. Thus, it can be used in design and retail, marketing, and B2B sales. For instance, customers can try their glasses on, using their own image. The app helps them to try glasses or clothes on an image that resembles them. Augmented reality can also be used to create interactive billboards, displays and immersive branding experiences. There’s no race between AR and VR By looking at these examples and the similarities and differences between AR and VR, it becomes clear that they are not going to outpace one another. They may be similar in some respects but they both have their uses and utilities. While they can exist separately, they can also exist in conjunction with each other, a technology which is known as

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