Tag: Indus Net Technologies (Int.)

Retail News Wrap Int.

Retail News Wrap | Weekly Snippets | August

✅ Hyundai Home Shopping’s latest breakthrough promises customers real-time 3D images of outfits which will range up to 20 styles in a minute.  https://www.kedglobal.com/retail/newsView/ked202308290011 ✅ Kanine announces its collaboration with Myntra, where it introduced 2,500 distinct products to the Indian market, bringing the world’s trendiest pet fashion brands right to pet owner’s doorstep.  https://www.indianretailer.com/news/retail-india-news-kanine-hand-myntra-unveils-global-pet-fashion-brands-india ✅ SenSen’s futuristic technology is taking the fight against retail fuel theft to a whole new level by using AI to analyse data from cameras and sensors. https://kalkinemedia.com/news/world-news/sensens-new-ai-breakthrough-fights-retail-fuel-theft ✅ Shopify – The Canadian retail tech platform is revamping the online shopping game with AI technology. https://wwd.com/business-news/technology/shopify-ai-magic-sidekick-giants-1235763521/

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INT. Pulse

INT. Pulse | August 2023

Dear Colleague, a lot has happened since we successfully landed in your inbox last month, making August’s opening blurb fuller than it usually is.  Super-Quick Recap 🧠The folks at OpenAI have finally unleashed a steroid-laced version of their generative transformer, aka, ChatGPT Enterprise. Better security, improved privacy, and turbocharged power come standard with this version.  However, top media houses like The New York Times, CNN and ABC have blocked OpenAI’s crawler, meaning Altman and his band of techies cannot use these publications to train their AI anymore.  🎙️ As we were busy cheering Chandrayaan-3, brain-reading implants powered by artificial intelligence have enabled two people with paralysis to communicate with unheard-of accuracy and speed.  We can now imagine a future where fluid conversation can be restored to folks with paralysis, enabling them to freely say whatever they want and be understood reliably too. More on this as you read on… 🤖✈️ Experts from the Korea Advanced Institute of Science & Technology (KAIST) have developed a humanoid robot (named Pibot), capable of flying an aircraft without making any significant changes to the cockpit. Pibot’s capacity is so vast that it can store all of the Jeppesen aeronautical global navigation charts, a task beyond any human pilot’s imagination.  Chatter at the INT. Marketing Team – “Yayy! R2D2’s ancestor is finally here.” 👑 Mom’s Love + Rasam = Grandmaster.  Chess prodigy Praggnanandhaa’s mother, Nagalaxmi, takes along an induction stove and two utensils to make rasam and rice for her children whenever they travel. For the FIDE World Cup too, the first things she packed in her luggage were rice, a rice cooker, and masalas.  💡 Pro Culinary Tip: Now you know what should be tonight’s dinner.  STATS: 14x Jump In India’s Ai-Skilled Task Force Recruiters and head honchos reading this, time to put away those antacids. How Come? Per this ET report, basis a LinkedIn survey, India’s AI-skilled crew grew by 14x in June 2023 compared to January 2016, putting our country among the top five for AI talent increase, alongside Singapore, Finland, Ireland, and Canada. Okay… I Want To Know More So, LinkedIn’s first-ever ‘Future of Work: State of Work @ AI’ study — which notes the rise of artificial intelligence at work — unearthed that 7/10 of India’s Gen-Z platoon believes AI skills are mission critical for career progress.  The study also found that through the past year, 43% of our workforce has witnessed increased AI usage at work.  This realisation has pushed 60% of all crews and 71% of Gen Z pros in India to make a beeline for AI-related upskilling.  Looking ahead, 57% of executives aim to enhance AI use in their business workflows next year, meaning organisations are actively reskilling their existing staff with AI expertise to ensure relevance and agility.  Here’s Some Straight Talk 🎙️”We are also seeing a strong trend around the emphasis on soft skills such as creativity and communications in the age of AI, and this is particularly strong in India, with 91% of top executives recognising their increased importance, surpassing the global average of 72%,” Ashutosh Gupta, country manager at LinkedIn India, told ET.  Hiring Competition? 🍎 Umm, Canada.  Yes, you heard right. Last financial year, over 51% of the 32-odd thousand tech workers that migrated to Canada, were Indians. 🤷🏻‍♀️ Ai & Healthcare: 78 Words Per Minute If we analyse the human timeline, landmark events like our control over fire, the invention of the wheel and axle, or even agriculture fade in comparison to the moment we learnt to talk.  Today, we bring news that is as historic as that point in time. Seriously? Totally! 67-year-old Pat Bennett, who has motor neuron disease that prevents her from speaking, and 47-year-old Ann, who lost her voice after a brainstem stroke 18 years ago, have both found their words again, thanks to some really really cool tech. WTF?? How?  Let us explain. In two separate studies published this month, two expert teams deployed brain–computer interfaces (BCIs) to translate neural signals into text and AI-generated voices.  The BCIs can decode speech at 62 and 78 words per minute, respectively. FYI, natural conversation happens at around 160 words per minute, but the new technologies are both faster than any previous attempts. How Does It Work? First, Bennett was operated upon to insert arrays of small silicon electrodes into parts of her brain that are involved in speech, a few millimetres beneath the surface.  Then, algorithms were trained to recognise the unique signals in Bennett’s brain when she attempted to speak various phrases using a large vocabulary set of 125,000 words and a small vocabulary set of 50 words.  ‘The AI decodes words from phonemes — the subunits of speech that form spoken words. For the 50-word vocabulary, the BCI worked 3.4 times faster than an earlier BCI developed by the same team3 and achieved a 9.1% word error rate.  The error rate rose to 23.8% for the 125,000-word vocabulary’, says the Nature article.  What’s Next? Many improvements are needed before the BCIs can be made available for clinical use.  🙋🏻‍♀️“The ideal scenario is for the connection to be cordless,” Ann herself told researchers. WOW! More power to Ann, Pat, and the teams behind this magic.  Well, we can’t do that just yet but Dipak has a whole bunch of AI-powered solutions to solve all kinds of modern business problems. Get in touch with him to explore one.  BFSI: Let’s Meet @ The Global Fintech Fest, Mumbai This September, from the 5th through the 7th, we are in Mumbai to exhibit our fintech and insurance solutions at the Global Fintech Fest 2023, being held at the Jio World Centre.   Drop in at our consolidated booth (U20 & U21), connect with our experts in person and take away actionable insights on Tech, Data & AI, and Marketing, to help your business stay ahead of the curve.  Need more airtime? Setup a meeting with our team here. . . See you there. 👋  Stuff We Are Watching 📌We Need Just $6 billion: Facing increasing pressure from China, which has accelerated its conventional weapon procurement efforts in recent months, the US Air Force is developing an AI

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5 Causes of Miscommunication in Your Workforce

5 Causes of Miscommunication in Your Workforce and How to Avoid It

Miscommunication in the workforce is one of the biggest bugbears at contemporary workplaces. While the emphasis at modern workplaces is on better collaboration and clear communication, there is often a communication breakdown due to diverse reasons. Avoiding the same is a prerequisite towards building a healthier and more motivated workforce that communicates better. Here’s looking at some of the biggest reasons behind workplace miscommunication and how you can fix them. Miscommunication in the workplace occurs when unclear expectations, poor listening, or ineffective communication channels cause misunderstandings between employees. Understanding the causes of miscommunication is essential, as the causes of miscommunication in the workplace can lead to decreased productivity and strained professional relationships. Miscommunication in the workplace often leads to delays and errors, showing how serious miscommunication in workplace settings can be. How to Avoid Miscommunication in the Workplace Avoiding miscommunication among the workforce necessitates better awareness of the reasons behind the same. Here are the top reasons that you should be aware of, along with their fixes.  Even after identifying these causes and their solutions, miscommunication may still crop up at the workplace. You should take more time and keep gathering feedback to eliminate the same completely. The Importance of Clear and Concise Communication Concise and clear communication is the gateway towards better collaborations amongst employees. It also helps avoid miscommunication at various levels. Here are a few pointers that should be kept in mind:  As can be seen, concise and crisp communication is the need of the hour along with full transparency. Let us now take a closer look at the concept of active listening and its positive implications for contemporary workplaces. The Power of Active Listening Active listening is a great way to weed out miscommunication at the workplace. Here are some aspects that are worth noting in this regard. These are some tips that will help implement an active listening culture at work while eliminating miscommunication among team members. Clear and transparent communication is the best way to achieve company objectives without any delays, hold-ups, or communication breakdowns amongst employees. FAQs Cultural differences often lead to miscommunication within a highly diverse workforce. This arises from different perspectives and cultural backgrounds along with behavioral patterns, body language, mindsets, gestures, manners, and other norms.  Organisations can implement communication strategies to build better communication across departments. These include giving employees a platform to be heard and share ideas. Companies can encourage open communication while enabling higher understanding and empathy. They should also ensure that everyone is on the same page while encouraging more feedback and interactions. Other strategies include clear protocols for tasks and documents along with common objectives and easier collaboration tools for cross-departmental communication.  Technology alleviates communication breakdowns in the workplace by making it easier to share data and inputs, collaborate, ask questions, get feedback, and solve problems as a team anytime and anywhere. It has introduced new communication mediums that enable swifter and more convenient interactions. However, it has often led to communication breakdowns, since it has minimised face-to-face communication and interactions. At the same time, it is often a distraction which makes it difficult to practice active listening at the workplace.  A communication-friendly organisational culture is one where employees are encouraged to communicate freely and openly. It is one where there are collaborative platforms and spaces for teams along with periodic feedback-gathering sessions and discussions with the leadership. It is also one where managers actively listen to employee inputs and value them. 

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Digital Pathways to Patient Engagement

Digital Pathways to Patient Engagement

Digital pathways are specialised systems for patients and healthcare providers, enabling them to manage the whole care process. It boosts patient engagement, streamlining overall communication, lowering overall paperwork and repetitive calls along with enabling automated administrative workflows. This results in smoother experiences for both parties with the help of health technology and dedicated digital solutions.  Personalised healthcare becomes a reality with digital pathways, while coordinating patient care throughout multiple disciplines, settings, or teams, and enabling data capture in real-time for tracking outcomes. These pathways also help foster an environment of patient education, collaborative working, and better engagement to boost adherence rates and eventual outcomes. How Digital Pathways Can Improve Patient Engagement Digital pathways can go a long way towards improving patient engagement. Here are a few pointers that can be noted in this regard:  Along with increased patient engagement, there are multiple other benefits of digital pathways as are listed below. The Benefits of Using Digital Pathways for Patient Care There are several advantages of using digital pathways for better patient care and engagement. Here are some of them: The benefits of digital pathways are numerous for both patients and healthcare providers. The best part is the fact that healthcare shifts to a more patient-centric and personalised model, which is the need of the hour today. The Future of Digital Pathways in Patient Care The future of digital pathways in patient care and engagement looks immensely bright and positive. More healthcare providers will adopt these digital solutions towards enabling patient-centric services. Here are some other pointers worth noting in this regard. The future will be more patient-driven as far as healthcare solutions are concerned. This is where digital pathways will come into play as cost-saving, efficient, and effective options for both healthcare providers and patients. FAQs 1.What types of digital tools and platforms are commonly used to facilitate patient engagement? There are several digital platforms and tools used for enabling patient engagement. These include digital check-ins, online scheduling of appointments, provider searches, digital billing, virtual waiting rooms, self-service tools, and telehealth. Other tools include patient portals, mobile apps, smart devices, care automation platforms, and remote patient monitoring tools.  2. How can personalised health technology solutions foster stronger patient-provider relationships? Personalised health technology solutions can build deeper relationships between patients and healthcare providers. Patients can get personalised health monitoring, guidance, and care delivery. They can be actively involved in decision-making while getting all necessary support, reminders, follow-ups, and check-ins. This will enhance patient satisfaction greatly and lead to better relationships with providers.  3. What are some real-world examples of successful digital strategies that have led to improved patient engagement outcomes? Some real-world examples of successful digital initiatives for better patient engagement include telehealth and remote patient monitoring. Some others include personalised patient portals and mobile apps along with software-based self-service tools.  4. How do interactive digital platforms empower patients to actively manage their own health and wellness? Interactive digital platforms contribute towards patient empowerment by giving them the data and tools to actively manage their own wellness and health. Patients can get recommendations and guidance along with preventive strategies. They can access their updated health data and get remote tracking and follow-ups along with reminders and notifications if needed. They can use self-service tools to engage with healthcare providers in a more convenient manner as well. They can also access educational resources on these platforms.

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INT. news wrap Insurance

Insurance News Wrap | Weekly Snippets | Indus Net Technologies (INT.)

✅ Israeli AI Startup Vesttoo stirs up the hornet’s nest, sparking a global insurance scandal. https://www.livemint.com/ai/israeli-ai-startup-vesttoo-sparks-a-global-insurance-scandal-11691153264363.html ✅ Jerry accelerates its future journey with a massive $110 million funding boost that will change the face of the car insurance landscape. https://fintech.global/2023/08/03/jerrys-ai-powered-revolution-in-car-insurance-accelerates-with-110m-raise/ ✅ A dynamic partnership is born as Klear.ai – AI-driven insurance software solutions – joins forces with Georgia Administrative Services to redefine insurance solutions ✅ Innovation meets responsibility when the AI wave hits the health insurance landscape as Pennsylvania legislators step in to ensure a fair balance. https://witf.org/2023/08/23/pa-legislators-look-to-rein-in-ai-in-health-insurance-claims/

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INT. News Wrap Banking

Banking & Finance News Wrap | Weekly Snippets August | Indus Net Technologies (INT.)

✅ Vijay Shekhar Sharma addresses Paytm’s next big step that encircles around the introduction of an AI-powered financial risk management system. https://www.bqprime.com/business/paytm-building-ai-powered-financial-risk-management-system-says-vijay-shekhar-sharma ✅ IBM is bringing change to the developer community with its all-new AI-based WatsonX Code Assistant for Z that will empower smarter, faster, and more innovative coding experiences. https://www.financialexpress.com/business/blockchain-ibm-unveils-ai-based-watsonx-code-assistant-for-z-for-developers-3218532/ ✅ Wells Fargo adopts the future of banking with a surge in tech spending and a focus on AI integration. https://www.bizjournals.com/sanfrancisco/news/2023/08/22/wells-fargo-weighs-in-on-ai-as-bank-eyes-surge-in.html ✅ Reserve Bank of India (RBI) gears up to add conversational payments to the Unified Payments Interface (UPI) to facilitate both C2C and C2B transactions. https://www.fintechfutures.com/2023/08/ai-powered-conversational-payments-to-launch-on-indias-unified-payments-interface/

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Why performance management is an integral part of an organisation?

Why performance management is an integral part of an organisation?

Performance management is a dedicated system that leverages sets of rewards and goals to encourage employees to dedicate themselves more towards work. Managing employee performance is a great way to optimize work procedures, while also achieving higher productivity and efficiency at the same time. It is not only vital for goal achievement, but also for strategic alignment of organizational goals and employee efficiencies. It also helps in terms of fostering better employee development and engagement in the long run. Here’s delving deeper into the concept and its implications for organizational success, employee engagement, and other crucial aspects. The Importance of Performance Management for Organizational Success Performance management can be a pivotal pillar as far as goal achievement or organizational success is concerned. Here are a few core points that will illustrate its importance in this context. How Performance Management Can Improve Employee Engagement and Productivity Performance management can go a long way towards enhancing employee productivity and engagement levels. Here are a few aspects worth noting in this regard.  Engagement plays a vital role in boosting individual performance. Outdated mechanisms like appraisals and performance reviews may not work for companies anymore. If done in the right way, performance management can foster superior engagement and help in accomplishing organizational goals faster.  It also leads to a better sync between company and employee objectives. There is a marked shift in the approach from more assessment-oriented to feedback-driven.  Advanced systems for managing performance will come into play sooner than later, with technological disruptions on the anvil too. This will help organizations greatly in terms of motivating employees better, engaging them successfully, and ensuring higher productivity. FAQs Some of the core components of a successful performance management system include developing, planning, rating, monitoring, and rewarding. They complement each other and lead to more effective performance management.  2: How does performance management enhance accountability and transparency within an organization? Performance management helps in boosting organizational transparency and accountability. Focusing on continuous tracking and accountability leads to a more transparent and healthier working environment. This leads to more transparency on performance feedback and also boosts employee autonomy and development. This naturally enables higher employee engagement and they can take more ownership of their work accordingly.  3: What are the potential benefits of incorporating technology into performance management processes? There are numerous advantages of integrating technology into performance management procedures. It lowers human bias along with ensuring more affordability and transparency accordingly. Compliance levels also go up while reporting mechanisms are also improved as a result. Technology-based performance systems enhance engagement, target reviews, tracking, assessment, and customized performance scales.  4: How can performance management help in identifying and addressing skill gaps within the workforce? Key performance indicators or KPIs can help evaluate career progress of employees along with overall retention and eligibility for promotions, rewards, and bonuses. They will also help companies identify contribution levels of employees while identifying skill gaps. Employee assessments are also great ways to discover skill gaps along with 360-degree reviews and observations. Performance benchmarks can also be set and monitored.

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Crowdfunding Future

Crowdfunding Future: Navigating with Quadratic Funding

Crowdfunding innovations are the need of the hour today, especially from the perspective of the funding mechanism finding greater acceptance amongst people in the future. This is where collective decision making and community empowerment come into the picture with crowdfunding as an enabler of the same. There is a school of thought that puts greater emphasis on Quadratic Funding as the best solution fit to meet future needs. Here’s learning more about the same in this article.  What is the future scope of crowdfunding blockchain?  Blockchain-based crowdfunding innovation and algorithmic funding are juxtaposed neatly by Quadratic Funding. Here’s Quadratic Funding explained for your benefit:  This crowdfunding innovation helps in amplifying the voices of smaller donors, making sure that they have a say in the distribution of community funds, while making sure that projects with the highest support base get the funding that they require.  What is the role of blockchain technology in crowdfunding? Now what does blockchain do for crowdfunding? Here’s looking at some key pointers in this regard:  Taking all these factors into account, it can be said that Blockchain can be a vital source of support for Quadratic Funding and high-quality content in the future.  How crowdfunding platform can be managed using smart contracts?  Blockchain-based smart contracts can play diverse and important roles in managing crowdfunding platforms. Here are some aspects worth looking at more closely:  These are only a few use cases of the Blockchain ecosystem and smart contracts in terms of supporting and enabling crowdfunding innovation in the future. Quadratic funding may well become a massive trend in terms of future initiatives and community empowerment. By giving smaller contributors a voice, it may ultimately enable a better arena for prioritising projects and campaigns for the public good.  FAQs 1.Can you elaborate on the algorithmic process behind Quadratic Funding? Quadratic Funding follows a unique algorithmic process where smaller individual contributions are combined with matching amounts from bigger donors or sponsors. Every donor’s contribution is matched by the total generated amount, the number of individual contributors, and the total donated amount. Hence, the total number of contributors, irrespective of the donation amount, influences the funding ratio. 2.What role does Quadratic Funding play in supporting grassroots projects and initiatives? Quadratic Funding has a vital role to play in supporting various initiatives and projects at the grassroots. With its unique model, it ensures more equitable and transparent fund allocation based on the community desires instead of the interests of a few affluent donors. It thus incentivises smaller contributions from a larger number of people. They can make sure that their desired community or grassroots projects get the funding they deserve. It builds a more democratic and pro-community system.  3.What potential challenges or criticisms are associated with implementing Quadratic Funding? Some of the challenges or criticisms include impact measurement. There are risks of it becoming overtly complicated or arbitrary. This will hinder equitable resource distribution in some cases. Technological awareness and lack of familiarity with Blockchain are other challenges that may arise in this regard.  4. In what ways does Quadratic Funding intersect with the concepts of decentralised finance (DeFi)? Quadratic Funding is deeply intertwined with DeFi (decentralised finance), since it can be supported by Blockchain technology. DeFi apps leverage smart contracts and public Blockchain decentralisation to offer more accessible financial solutions. Quadratic Funding can use the same platforms for allocating capital in the crowdfunding segment.

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Life Science & Pharma News Wrap | Weekly Snippet

Life Science & Pharma News Wrap | Weekly Snippet

✔️ Biotech Firm 10X Genomics is harnessing advanced technology to create advancements that promise to benefit the entire humanity. https://www.forbes.com/sites/stevenaquino/2023/08/07/biotech-startup-10x-genomics-is-using-tech-to-transform-biology-and-advance-human-health-for-all-people-including-the-disabled/ ✔️ New Delhi-based Premas Life Sciences is fast-tracking the adoption of optical genome mapping technology in India. Recently it has established a distribution partnership with Bionano, a US-based leader in genome analysis solutions.  https://www.biospectrumindia.com/news/60/23431/premas-life-sciences-expedites-use-of-optical-genome-mapping-technology-in-india-.html ✔️Mankind Pharma joins forces with AI-generated Anushka Sharma to express heartfelt thanks to our chemist heroes. The campaign created cool advertisements and proved immensely advantageous for chemists, amplifying their presence and elevating their sales. https://brandequity.economictimes.indiatimes.com/news/advertising/mankind-pharma-uses-ai-generated-anushka-sharma-to-thank-chemists/102639440 ✔️ Dimensionless Technologies, spearheaded by two IIT alumni is rewriting the supply chain narrative with AushadhAI and is promising to reshape the pharma and healthcare landscape.

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Blockchain in Industry 4.0

Blockchain in Industry 4.0

Industry 4.0 is generating sizeable buzz these days in (no prizes for guessing) global industry circles! It is billed to be the first such major revolution, one that focuses more on digital transformation as a key component of enabling interconnections, support, knowledge, and openness. This will eventually extend to aspects like smart manufacturing, supply chain management, data security, interoperability, and more. This is where blockchain comes into the picture as a foundational pillar of Industry 4.0. From production on demand to automation and robotics, companies are increasingly leveraging technology to solve a variety of problems. AI and Blockchain can be a dynamically potent duo that covers transparency, sharing, safety and various other aspects. At the same time, Industry 4.0 technologies are embedded with the concept of massive computing abilities and sufficient storage along with swift detection, linkage, and authentication through cloud-based servers. Let us take a closer look at how blockchain will drive the proliferation of Industry 4.0 paradigms worldwide. What is the 4th generation of blockchain? Blockchain 4.0 is a whole new generation of this pioneering technology. Here are some pointers that are worth noting in this case:  Sounds exciting doesn’t it? That is precisely what Blockchain 4.0 promises and within the larger Industry 4.0 blueprint, it can have a bigger bouquet of benefits for companies.  How will Blockchain transform industries and the economy? We’ve mentioned smart manufacturing, smart contracts, supply chain benefits and more applications of blockchain already. What more can it do? What are the transformative effects that it will have on the economy and industries? Read on for a glimpse of the same:  From 3D printing to mainstream manufacturing, blockchain will herald a paradigm-shift in how business is done, especially with the focus on achieving an outcome economy.  Digital Supply Chains The digital supply chain concept has already garnered significant headspace in recent times. Here are some factors worth considering in this space:  As can be seen, blockchain is an integral part of the epoch-breaking towards Industry 4.0 models as far as businesses and manufacturers are concerned. There will be more ground-breaking innovation enabled by blockchain and it will re-envision and reshape business and economies like never before.  FAQs  Blockchain plays a key role in securing transactions and sensitive information with encryption and immutability. Distributed ledger technologies enable data structuring into blocks, with each containing a transaction bundle. All blocks connect to each other in a chain which cannot be tampered with.  Blockchain can help in easy tracking of information gathered by IoT sensors, without any duplication. Data transfers can be facilitated by blockchain technologies without trusted third parties required for the process. This will naturally boost interoperability between IoT devices.  Some of the biggest challenges include data privacy, consent mechanisms, and the quality of data. AI can gather data while analysing huge datasets for identifying patterns and generating unique scenarios. Blockchain enables fraud-free, secure, and flawless data sets. New patterns from AI can be authenticated with decentralised blockchain mechanisms. Using blockchain platforms, players can get NFTs or tokens as prizes for completing tasks, for instance. They can sell assets or trade them. This is an example of what already happens. Going forward, users may be able to monetise data in a similar manner through tokenisation. Data can be converted to digital assets for sale/trade on decentralised marketplaces. Users can set prices and conditions for sharing data. They can thus take part more actively in a data economy and get direct benefits in turn. 

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