Tag: Indus Net Technologies (Int.)

Customer Feedback Management with GenAI

Transforming Customer Feedback Management with GenAI

August 8, 2023

Customer feedback management and customer service are steadily being transformed with the use of GenAI or generative AI is a huge buzzword today. This transformation in customer support functions has naturally led to GenAI being a tool for business growth and empowerment. There are several aspects that clearly indicate the increasing adoption of GenAI amongst businesses. There are several aspects that clearly indicate the increasing adoption of GenAI amongst businesses. 51% of marketers, as per reports, presently use GenAI while 22% of them plan to use the same soon. 76% of marketers in copy and content writing are already using GenAI while 53% call it a game changer for data analysis, user messaging personalisation, marketing campaign creation, and optimisation/envisioning of SEO strategies. Generative AI has a direct impact on overall productivity, potentially adding innumerable value to the economy worldwide. 75% of GenAI value may be delivered in four categories, namely marketing and sales, customer operations, R&D, and software engineering. Banking, life sciences, and high tech will be industries that will witness the most impact. Here’s looking at the effect of GenAI on feedback management and customer service.  How is generative AI used in customer service? GenAI is highly effective in terms of streamlining customer feedback management and service alike. Here are a few aspects that should be understood in terms of how it can bring about a transformation in the segment.  How GenAI Can Help You Collect and Analyse Customer Feedback GenAI is a great tool to collect and evaluate customer feedback. Here are some major points to keep in mind in this regard:  The Future of Customer Feedback Management with GenAI Customer feedback management will undergo a huge transformation with GenAI in the near future. Here are some aspects that will become mainstream for companies.  To sign off, it can be said that GenAI will completely reshape customer feedback management and service functions in the future. More businesses will find greater value in leveraging generative AI to enhance customer journeys, tackle issues, and plug gaps. This will naturally put them on course towards achieving steady growth and their objectives.  FAQs  GenAI can transform feedback management through helping companies swiftly gather feedback from multiple channels and analysing the same. This results in helpful insights for companies to take better decisions. They can understand customer preferences and pain points while taking steps to address the same.  GenAI can easily accommodate diverse sources of feedback. These may include social media platforms and communities, emails, reviews, and direct interactions with the company. These can be easily gathered and analysed to generate valuable insights.  GenAI can be customised to various industries including life sciences, healthcare, technology, banking and financial services, and many more. Language learning models and generative AI-based algorithms can be customised to analyse and gather specific data and churn out insights accordingly.  There are concerns related to data privacy and security as far as the usage of GenAI is concerned. The analysis and training of input data has led to these concerns. However, with advanced encryption and other security measures, businesses can resolve the same seamlessly. At the same time, consent gathering and management is another solution in this regard. 

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Life Science & Pharma News Wrap | Weekly Snippet

Life Science & Pharma News Wrap | Weekly Snippet

August 4, 2023

✅ Scientists unveil a new tech for detecting protein modifications. From disease research to drug development, this discovery can now delve deeper into vital biological pathways. https://www.news-medical.net/news/20230801/Scientists-develop-breakthrough-technology-for-detecting-protein-modifications.aspx ✅ Hyderabad’s thriving ecosystem is offering boundless opportunities for growth and breakthrough research. No wonder, more than 12 big biotech companies are now eyeing this city to expand their footprints. https://m.timesofindia.com/city/hyderabad/its-destination-hyd-for-top-biotech-life-sciences-firms/articleshow/102241355.cms ✅ CHA Vaccine Institute and Pharos iBio join hands to co-develop AI-based treatments. This collaboration aims to reinvest immunotherapies for a healthier future. https://www.koreabiomed.com/news/articleView.html?idxno=21757 ✅ PIPA and Meati are set to redefine how we approach life sciences and food innovation. Powered by AI, this transformative journey promises the way for personalised and more effective treatments.https://www.koreabiomed.com/news/articleView.html?idxno=21757

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Why Embracing Equity Is Key to Organisations’ DEI Strategies

Why Embracing Equity Is Key to Organisations’ DEI Strategies

August 4, 2023

DEI (diversity, equity, and inclusion) is one of the biggest organisational goals today, with more companies tasked with adopting an equity-driven approach towards achieving the same. Equity has to be understood carefully in this context. It is not about every individual getting the same things, but rather an understanding of the fact that people are at different levels or starting points. This necessitates equity-centered decision-making where various interventions and tools are deployed for several groups to get people to the same end-stage. It encompasses not only employee engagement, but also career-development programs for women and other groups, internal networks of employees for support and assistance, flexible policies, gender representation objectives, and better parental leave guidelines. Here is a closer look at equity and why it is a key component of DEI strategies at organisations. Why is equity important for DEI? Equity is crucial for DEI (diversity, equity, and inclusion) objectives and decision-making alike. Here are some aspects that should be noted in this regard: How can organisations embrace equity? Organisations can embrace equity in several ways. Some of them include the following:  Challenges to achieving equity in the workplace There are a few challenges towards achieving equity in the workplace. These include the following:  Achieving equity at the workplace is possible with the right leadership, fostering suitable company cultures, and keeping DEI objectives at the forefront. Equitable workplaces are the future and it is high time that organisations embrace the same.  FAQs 1.What are the benefits and advantages of incorporating equity into DEI strategies within organisations? The benefits of incorporating equity into DEI objectives and blueprints are numerous, including higher employee productivity and engagement. Other advantages include higher retention, turnover rates, lower absenteeism, better customer satisfaction, and a healthier work environment.  2. How does addressing systemic bias and promoting equity lead to improved employee engagement and retention? Better employee engagement and retention is always possible through tackling systemic bias and promoting equity at work. Employees are more likely to stay at companies and dedicate themselves to the company’s goals when they get inclusive and welcoming spaces where they are respected. The absence of bias works as a motivator for employees.  3. What role does leadership play in fostering an environment that embraces equity within DEI strategies? Company leadership has a vital role to play in laying out the company culture, creating platforms and spaces for voicing thoughts, laying out inclusive policies, and scaling up diversity and openness in recruitment.  4. What metrics or indicators can organisations use to measure the progress and impact of equity-focused DEI strategies? There are several indicators or metrics that are used by organisations for tracking the effect of equity-based DEI strategies and overall progress. These include performance, attrition, leadership pipeline, inclusion, employment pipeline, pay equity, and promotions. 

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What We Can Do to Collectively Achieve Gender Equity

What We Can Do to Collectively Achieve Gender Equity

August 2, 2023

Gender equity is best defined as respecting all individuals without any discrimination, irrespective of gender. It also includes tackling gender inequalities which restrict the abilities of people to get access to opportunities for better education, economic opportunities, and health on the basis of gender. Implementing gender equality in the workplace is not only about ensuring higher diversity and inclusion, but also ensuring equal opportunities through fostering an inclusive work environment and taking collective action to address gender gaps at work.  Challenging Gender Stereotypes Ensuring gender equity at the workplace is only possible through challenging gender stereotypes. Here are some points worth noting:  Ending Violence Against Women Ending violence against women is a giant leap towards gender equity and ensuring a healthy environment for everyone. Here are the key aspects to be kept in mind:   Empowering Women in Leadership Empowering more women will positively impact overall economic growth in any country. Here are some points that may be noted in this regard:  These efforts, even if suitably executed, will only be a drop in the ocean. The truth is that we are still a long way off from basic gender equity and the concept of equal opportunities. The boy’s club or glass ceilings still prevail to an extent where we recognise and fete a few examples of those who break them/into them. FAQs What strategies can corporations adopt to close the gender pay gap and ensure equal compensation for all employees? Corporations can adopt several strategies to close up the gender pay gap and ensure equal compensation. They should be transparent regarding income slabs, bonuses, and incentives. Men should be encouraged to take parental leave.  Childcare help should be provided to both men and women. Remote working should be encouraged whenever necessary and of course, payment slabs should be solely on merit and job duties.  What initiatives can companies implement to provide equal opportunities for career development and advancement for women? Some of these initiatives include revamping onboarding processes to be more inclusive and tailoring jobs to fit candidate profiles without taking the opposite approach. Companies should make sure that both men and women have access to the same leadership development programs and build discrimination-free managerial/decision-making cultures.  The ratio of men to women should be evaluated periodically while the working environment should be safe. Coaching and mentorship should be available for women without any discrimination.  How can organisations create and enforce policies against gender-based discrimination and harassment? Companies can create policies against gender-based discrimination and harassment through drawing from applicable legal statues. They should enforce these policies through offering helplines/options to reach out for reporting such cases. There should also be safe spaces, neutral and external conflict resolution and monitoring, law enforcement links and coordination, proper employee harassment and discrimination cells, and so on.  How can we leverage technology and digital platforms to advance gender equity and bridge the digital gender divide? Digital platforms and technology can be leveraged to form communities and groups for help and assistance, along with swift emergency outreach. They can be used to build safe spaces to document, record, and report grievances. They can be leveraged for swift coordination and supervision, courtesy of external authorities. Technology can also be used as a great leveler, with regard to helping women find equal opportunities for career growth within the organisation.

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Blockchain's Impact on Risk Management & Insurance Underwriting

Blockchain’s Impact on Risk Management & Insurance Underwriting

July 31, 2023

Blockchain continues to be a talking point throughout various sectors, including insurance. From insurance underwriting and risk management to fraud prevention, it has several applications that promise to change the future of insurance. This technology not only guarantees data integrity through its immutable smart contracts, but also promises to usher in higher transparency at multiple levels. The key take-away here is that Blockchain helps build higher trust amongst parties for information-sharing. This is encrypted as an electronic records list or blocks which cannot be tampered or erased. Smart contracts are digitally-signed and computable agreements between parties. They enable information sharing and execution in a secure way. Let us look at how Blockchain has a major impact on insurance underwriting and other functions like risk management.  Blockchain for Decentralised Insurance Blockchain applications in the insurance sector are increasingly being explored by several companies. With Web 3.0 and DeFi setting new process and system standards throughout various sectors, insurance is no exception. Here are a few points worth noting in this regard: How blockchain can reduce fraud Can Blockchain reduce fraud? Here are some pointers that are worth looking at in this regard:  Blockchain is not only helpful for fraud detection and decentralisation in insurance, but also for ensuring improved regulatory compliance. Blockchain for regulatory compliance There is a leading role played by Blockchain technology in helping insurance companies enable superior regulatory compliance across the board. Here’s how: FAQs 1.How blockchain can streamline claims processing? Blockchain technology can enable real-time information access for all parties. This helps reduce conflicts and disputes, thereby enabling faster claims processing and payouts.  2.How blockchain can improve customer satisfaction? Blockchain technology can enhance customer satisfaction in the insurance industry due to its impact on faster and streamlined claims management. Claims can be processed swiftly without conflicts or delays. This naturally improves customer satisfaction greatly.  3.The challenges of implementing blockchain in insurance?  Some of the challenges involved in implementing Blockchain in the insurance industry include technological integration into legacy systems and the absence of regulatory frameworks for several applications.  4. The future of blockchain in insurance Blockchain will shape the future of the insurance industry in a major way. Smart contracts and securely-held policyholder data will be the norm. Digital evidence required for underwriting will be provided by the Blockchain, while enabling higher data control and consent for customers. Underwriting and claims management will be automated and more efficient as a result. Fraud detection will also be enhanced with immutable and secure transaction records. 

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Insurance News Wrap

Insurance News Wrap | Weekly Snippets

July 28, 2023

✅ From streamlining claims processing to personalised policy recommendations, insurance’s ‘first’ chief AI officer is here. https://ow.ly/8szs50Pnqs6. ✅ Cognizant and Max Life Insurance join forces to transform the insurance landscape as they jointly announce an innovation and development centre. https://ow.ly/BCtT50Pnqs2 ✅ Discover the convenience of instant policy issuance and quick claim settlements with Bajaj Allianz Life Insurance’s latest tech stack. https://ow.ly/YXiX50Pnqs4 ✅ HDFC ERGO is taking a leap forward to enhance CX and transform the insurance industry by teaming up with Google Cloud to launch a Center of Excellence for Generative AI. https://ow.ly/7stY50Pnqs3

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Banking & Finance News Wrap

Banking & Finance News Wrap | Weekly Snippets

July 28, 2023

✅ Fraud protection just got a massive upgrade as Mastercard unveils its AI Tool to combat APP scams worldwide.  https://www.livemint.com/ai/artificial-intelligence/mastercards-new-ai-tool-will-help-banks-tackle-app-scams-globally-11688603976444.html ✅ TotallyMoney joins forces with Bud to introduce an AI-powered Payments Tracker that will help users with tracking expenses, personalise spending recommendations, and more. https://thepaypers.com/online-mobile-banking/totallymoney-partners-with-bud-to-launch-ai-powered-payments-tracker–1263564 ✅ After the likes of Facebook and Google, Elon Musk takes the leap into the world of Super Apps with Banking on X https://www.bloomberg.com/news/articles/2023-07-25/elon-musk-pursues-banking-in-wake-of-rivals-failed-attempts ✅ Cyber Police tracks banking fraud in Kozhikode. The forgery was worth ₹40,000 and the scammers took the help of AI tools to run the operation. Read more. https://www.thehindu.com/news/cities/kozhikode/banking-fraud-using-ai-probe-in-full-swing-to-track-suspects/article67116085.ece

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Analysing Unstructured Data in Life Sciences

 Analysing Unstructured Data in Life Sciences

July 28, 2023

Unstructured data analysis is a key talking point when it comes to the life sciences industry. The need for better life sciences data management has grown rapidly in recent years, with the help of better data integration and advanced technologies like machine learning, big data analytics, data visualisation, and natural language processing (NLP). Data scientists usually classify data as semi-structured, structured, and unstructured. Unstructured data represents information that has not been organised into any uniform format and hence is difficult to operate. It may include images, text, video, and audio materials. This data may come with semantic tags but may suffer from inconsistencies or the lack of standardisation. Unstructured data analysis cannot be neglected, since this data type is vital. This is usually extracted from human languages via natural language processing (NLP) and gained via sensors, scraped from the web or databases, and so on. This data has vast benefits in terms of generating helpful insights for life sciences companies. Machine learning for identifying patterns & trends in unstructured data: Gartner has forecasted how the life sciences and healthcare segment will keep surpassing average growth in IT expenditure. This investment will be majorly targeted towards cloud transitions, digital care delivery transformations, data and analytics, virtual care solutions, and more. Here are some key points worth noting in this regard:  Natural language processing (NLP) is the cornerstone of extracting insights from vital text data. Here’s learning more about the same.  NLP for extracting insights from text data: Here are some points relating to natural language processing (NLP) which enables machines to interpret, understand, and generate human languages. Here are some points that should be taken into account:  The third step in the process is data visualisation. Here’s learning more about the same below. Data visualisation for communicating the insights from unstructured data to stakeholders Data visualisation is also a vital step for unstructured data analysis. It indicates data representation via the usage of various displays and graphics for communicating complex relationships and insights to stakeholders. Here are some aspects that should be noted in this regard:  Thus, automatic classification technologies driven by ML, NLP, visualisation, and other tools will enable the identification of trends and patterns throughout unstructured data. This will lead to better insights, usage, and decision-making throughout product development, patient care, safety, logistics, and various other aspects.   FAQs 1,What is unstructured data in the context of life sciences? Unstructured data for the life sciences industry is a form of data that is not uniform and may be hard to understand. It may have inconsistencies and may be hard to integrate or standardise.  2.What tools and technologies are available for handling unstructured data in life sciences? There are several technologies and tools used to take care of unstructured data in the life sciences industry. These include machine learning (ML), NLP (natural language processing), data visualisation, and artificial intelligence.  3. What are the potential benefits of analysing unstructured data in life sciences? There are several advantages of analysing unstructured life sciences data. These include identification of patterns and trends, generation of easy-to-understand actionable insights and faster decision-making as a result.  4. What are the challenges associated with managing and unstructured data in life sciences? Some of the challenges linked to the analysis and management of unstructured life sciences data include data silos, issues with visibility, collaboration throughout teams, data export and access issues, lack of data organisation and integration, and problems with its retrieval and classification.

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INT. Pulse

 Close shave – Thank your asteroids.

July 27, 2023

Dear Colleague, we woke up today with a bit of a ‘dinosaur feeling’. 🦖 How Come? The Jurassic emotion was a direct result of finding out that a house-sized asteroid is making a very close pass of our planet today.  Fyi, when faced with the wrath of such a rogue rock, the dinosaurs were not so lucky, and that’s evident because these days you are filling up their remains in your car’s fuel tank.  🦖 + ☄️ = ⛽ What’s On The Rocks? As you read this, Asteroid 2018 BG5, a space rock from the Apollo group of near-Earth asteroids, will fly by earth (July 27,2023) at a speed of 30,094 kays an hour, per NASA’s Center for Near-Earth Object Studies (CNEOS).  The asteroid will come as close as 4.1 million kilometers to us – a distance which may seem large, but it is relatively small in astronomical terms, considering the vastness of space and the size of the asteroid. Should You Withdraw All Your Savings? No. No. NASA’s best have assured that there is no risk of impact with Earth today or in the foreseeable future. ⚠️ However, even a small asteroid can cause significant damage if it enters the Earth’s atmosphere, as shown by the Chelyabinsk meteor event in 2013, when a 59 feet asteroid exploded over Russia, injuring over 1000 people and damaging nearly 8000 buildings. STATS: Sorry, The Doctor Isn’t Available Life sciences leaders, heads up. Are your sales reps getting the cold shoulder/elbow nudge from doctors more often these days? Turns out, they are not trying to hoodwink your system while catching up on Oppenheimer during office hours. Yeah? How Is That? A new CMI Media Group survey of physicians across countries is providing fresh evidence that face to face meetings with doctors is becoming a rare commodity since COVID-19. When asked, 25% of the doctors reported reducing face-to-face interactions. With another 10% of doctors permanently closing their doors for reps, the survey suggests pharmaceutical companies will find it increasingly tough to put their drugs in front of ~35% of physicians via the traditional in-person route. Aha. What Could Work Then? To start, how doctors utilise their time roughly maps onto the value they place on each touchpoint. Print and online journals are on top, with 79% finding them very or extremely useful. Pharma reps on the other hand, are pretty much down on the attention radar. Only 33% doctors find reps very or extremely useful, placing them below resources like medical websites and unbranded disease education from biopharma. Bonus Data Points 🍎 99% doctors engage with print/online journals or medical websites at least once a month. 🍎 75% also engage with search engines and email, online drug references, direct mailers, medical apps, professional online communities, brand emails, medical videos on YouTube, and medical podcasts. The doctors’ world is clearly leaning towards an omnichannel approach. If you need to explore such a strategy, chat up with Anindya, our resident Life Sciences man. Psst, he curates the most amazing conversations over ☕️. Ai & ANALYTICS: The Chatbot Will See You Now Unlike physicians who are reducing their face time with med reps, did you know chatbots have no pressing personal issues (yet) and are doing mankind some sterling service?  I Do  This blurb refers to securing consent from humans for stuff like clinical trials and other life sciences related studies, where, hold our battery pack, chatbots are doing very well.  Seriously? Yo! Results from a study of the use of a chatbot in the consent process show that it encourages inclusivity, and leads to faster completion of the process with high levels of understanding.  On the flip side, the traditional method of securing consent lacks a mechanism to verify understanding objectively, just like all the web forms we give consent to without understanding zilch of the fine print.  Comparatively, the chat-based method can test comprehension, disqualifying users who do not show understanding to give consent; rather, it puts them in touch with a genetic counsellor to figure out why knowledge transmission did not occur.  Pretty dang smart for a piece of software, talking of which, we have a whole bunch of AI-powered chat bots held in a big steel vault behind Dipak’s office desk. Get in touch with him to deploy one for your business.  BFSI: A Single Source of Truth We’ve been swamped with news, stories, videos, and you-name-it, all revolving around artificial intelligence, once prompting OpenAI’s CEO to say, people are ‘begging to be disappointed’ about GPT4, meaning let’s water down the hype, please.  But amid all the speculation and noise, what are the most achievable, real world uses of AI?  The BFSI Space Is A Great Start, We Say The BFSI sector is flourishing with AI tech integrating with many functions, from the digital KYC verification process to evaluating credit scores.  However, to quench the thirst of the customer base accustomed to the convenience of digital tools, the industry needs to deploy more AI tech, the first among them could be;  Customised Experience: Because of the very nature of the trade, BFSI players have always had a finger on consumer pulse. Time to take that to the er, bank. Their spending patterns and investment portfolios can assist BFSI businesses to build relevant, personalised messages, enabling them to better present their products and services across various platforms, improving acquisition and loyalty.  This is where AI and data analytics shine, delivering value by creating a single source of truth from an ocean of data from within and outside the business.  Fraud Detection: While the original BFSI fraud detection model is focused on detecting fraudulent transactions – an area where generative AI has added a powerful weapon to the fraud detection arms depot – a gap remains.  You guessed right, detecting fraudulent human behaviour. Fraud does not happen in vacuum or underwater. People commit fraud.  AI can also be deployed to comb through the field of behavioural indicators. It’s time to task AI with sifting through the subtleties of human communications — written

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Blockchain's Impact on Data Interoperability in the Healthcare Industry

Blockchain’s Impact on Data Interoperability in the Healthcare Industry

July 26, 2023

Data interoperability is a buzzword that has gained traction throughout the healthcare industry. This usually comes with multiple levels, including semantics, foundational, and structural. At the same time, data standardisation and privacy are key concerns, since the system should enable interoperability of data with full consent, trust, and permission support.  Blockchain can thus add a whole new dimension to healthcare data management while solving several interoperability challenges simultaneously. It ensures a proper framework for anonymised information while making sure that the data cannot be modified, forged, or tampered with. Blockchain can thus add a whole new dimension to healthcare data management while solving several interoperability challenges simultaneously. It ensures a proper framework for anonymised information while making sure that the data cannot be modified, forged, or tampered with. Authenticity and data security are major worries that are solved with this technology and the owner of data through smart contracts can make it more accessible across treatment sites and providers in a selective way. Here are some of the vital aspects related to the impact of Blockchain on healthcare data interoperability.  Blockchain for clinical trials: Along with data interoperability, Blockchain has enabled better clinical trial management. Here are some core points worth noting in this regard:  Hence, Blockchain technologies can boost the quality and volumes of patients who are recruited for clinical trials. Distributed ledger technologies will help patients store medical information through anonymous mechanisms and it can be visible to recruiters who may reach out if the data is eligible for the trial. Blockchain for patient consent: Patient consent is another vital facet of healthcare data management and this is also enhanced by Blockchain. Here are some factors worth noting in this regard:  These are some of the ways in which Blockchain technologies contribute immensely towards enabling patient consent and putting data management in their hands.  Blockchain for drug supply chain management: Blockchain technology also helps immensely in terms of drug supply chain management. Here are some aspects that can be highlighted in this regard:  Hence, Blockchain technology is a game-changer in terms of ensuring seamless data interoperability in the healthcare industry and also ensuring better consent management, clinical trials, and drug supply chain management. The possibilities are endless in terms of reshaping and refining these systems to ensure the best possible outcomes for the sector.  FAQs 1.How does blockchain improve the accuracy and integrity of healthcare data during interoperability? Blockchain greatly improves the integrity and accuracy of healthcare information during interoperability. This is possible with the immutable nature of data that is securely stored on its networks. Blockchain enables one version of the truth that cannot be tampered with.  2.What are the potential cost savings and efficiency gains from implementing blockchain for data interoperability in healthcare? There are several benefits of using Blockchain for healthcare data interoperability. The first one is the higher efficiency involved in secure storage of immutable records with full authenticity and the second one is the lower cost involved in the process. Along with data security and authenticity, financial losses due to data breaches and losses are also prevented.  3.Are there any real-world examples or success stories of blockchain’s impact on data interoperability in the healthcare industry? There are numerous real-world success stories and examples of how Blockchain has positively affected data interoperability in the healthcare sector. For example, several healthcare stakeholders are already using this technology to ensure authentic data for clinical trials. At the same time, smart contracts are being used for securely storing patient data.  4.What are the main challenges in achieving data interoperability in healthcare, and how can blockchain help overcome them? Some challenges exist in terms of data interoperability in the healthcare sector and Blockchain solves them with ease. These include the absence of data standardisation, security, privacy, consent, and technological expertise. Blockchain ensures a secure and standardised way of storing verifiable records with full consent and privacy. 

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