The rising mortality rate due to the COVID-19 outbreak has thrown the medical community into a frenzy. The outbreak has spread to over 180 countries, which made about one-third of the global population to go under lockdown. Also, this pandemic has caused an exponential growth in demand for healthcare products such as ventilators, medical clothing, face mask, and diagnostic devices. Hospitals are struggling to manage the condition as the disease is sprea [...]
Due to digitalization, there has been an immense proliferation of data leading to latency and issues with handling such volume of data. Hence, enterprises started searching for options to ease the process of data managing and landed up with the technology of edge computing. Edge computing computes closer to the source data and successfully addresses latency, privacy, and data control. Its capability to handle high-bandwidth content and real-time applications bring it closer to the end-user. By decreasing network traffic, it also reduces netw [...]
Chatbots made it big across the global market with the power of artificial intelligence (AI). It gained momentum with the arrival of Facebook messenger. However, chatbots earned popularity due to the support it can provide and customer satisfaction it can guarantee with its performance. A chatbot powered by AI is an automated communication system that also acts as an assistant and can scale up the business, reduce the cost of operation, and enhance the overall capability of the process. A chatbot induced through the company’s [...]
Digitalization has immensely impacted the currency landscape. Although the virtual currency brought enormous advantage easing transactions yet, it cannot rule out the possibility of risk associated with it. Despite the possible threat, due to its unique nature and a set of advantages over other payment gateways, bitcoin gained considerable popularity. Bitcoin is a peer-to-peer, decentralized cryptocurrency system that permits flawless digital transactions. Since it is not managed or regulated by any central authority like a central [...]
As once said by the famous management consultant Peter Ferdinand Drucker that, “the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” Similarly, there has been a huge transformation in the field of infrastructure and operation through the advent of the latest technologies. The focus is more on aligning the operative system and infrastructure with that of the business strategies implemented using artificial intelligence (AI), network automation or edge computing. There [...]
Gone are the days when there used to be long queues in banks due to manual processing. Today everything has become digitized to ease the process and create a rich customer experience. The entire process of banking has transformed into a method of customer engagement where customer touch-points are increasing in number along with a series of transformed customer interaction channels. Areas of noticeable transformation Although slow, yet the financial sector has embraced IoT to digitize the concept of retai [...]
Innovation and technology are disrupting the traditional ethos of almost all industries. Healthcare is an industry with emergencies and criticalities, has readily adopted technological advances. Cloud-based storage systems and patient tracking devices have altered the method through which the healthcare industry used to operate. Factors contributing to the growth of the healthcare sector The healthcare IT solutions largely refer to electronic medical records, wearable medical devices, e-prescriptions, and [...]
Our life is surrounded by the impact of artificial intelligence (AI), be it business operation or daily life. The AI trends mark the growth of the current market and project the latest advancements in the field of technology. According to secondary market research, the enterprise AI market is growing at a rapid pace and is expected to reach USD 22889.32 million by 2024, at a CAGR of 52.17 % by 2025. In fact, enterprises have started to experience massive improvement in the field of operational efficiency due to the involvement of AI. Solutio [...]
Transforming the approach The world of retail business is undergoing a massive transformation which is reinventing the business model. Now, organizations are readily adopting technologies however, to gain the most from technology and innovation, different units within the organization must stay collaborated and connected in order to ensure seamless functioning and enriched customer experience. All the units of business must be linked with each other to create a satisfactory end result. Rather than focusing on the e [...]
Fraud detection It is an overwhelming feeling of how the world is connected today due to digitalization. Hence, it has become essential to create a safe and secure environment for people to operate without falling prey to cyberattacks or fraud. The growing utilization of eBanking and mobile banking facilities has enhanced the chance of money laundering and fraudsters damaging reputation and economic loss for individuals as well as organizations. How AI helped in fraud detection?