Much has been happening on the TikTok front ever since the Trump Government imposed a ban on it. The Chinese app has gained much traction ever since it announced its acquisition plans. The widespread use and popularity of TikTok makes it one of the most lucrative apps of the 2020. Clearly a lot of CEOs are smart enough to see the opportunity and try to gain ownership of something that will add millions of dollars to their bank accounts. TikTok is literally on auction. Let’s explore who all are in the race and who might win the TikTok acquisition game.
But, before we jump into the main section, allow us to give you an overview of the drama.
A situational overview
The growing tension with the Coronavirus and China’s inability to handle it has disturbed government leaders of the world, especially India and America. In an act of revenge, India banned 50 Chinese apps early July and US recently.
The executive order from the Trump administration reads: “The spread in the United States of mobile applications developed and owned by companies in the People’s Republic of China continues to threaten the national security, foreign policy, and economy of the United States. At this time, action must be taken to address the threat posed by one mobile application in particular, TikTok.”
Weeks after the order, the company ByteDance proposed full sale of the US operations to any interested American company. This will also ensure that local user data stays in the hands of the domestic American company.
The first bidder to show interest ever since TikTok rolled out its acquisition plans was Microsoft. Microsoft acknowledged the plan and clarified that it was pursuing a deal to acquire TikTok for 4 locations: US, Australia, Canada, New Zealand.
Another actively participating bidder that has recently emerged is Twitter. The company is said to have completed the preliminary talks with ByteDance.
Market leaders, however, speculate Twitter’s capacity to bid such a huge sum, since its own market valuation stands at $29 billion.
Netflix (proposed buyer)
The video streaming giant is not reportedly in the race, but everyone is questioning why it shouldn’t. Netflix can afford it, and TikTok is a jewel asset. The user base of Netflix saw a strong upward trend ever since countries went on lockdown due to the pandemic. Buying TikTok would give them control and rule the social media industry as well.
Google (proposed buyer)
Google’s parent Alphabet has a history of acquiring any emerging company and TikTok is no different. The established user base and worldwide popularity would offer a strategic advantage.
Who might win TikTok acquisition
Microsoft’s exact status of the deal is yet to be known, but the humongous bid price and Microsoft’s high market valuation definitely gives it the upper hand among other bidders.
It’s a far too big bite for Twitter, but its investors may support it to raise the money required.
Whoever gets the deal, it will quickly add a large user base and millions of dollars to their accounts.
What are your thoughts on this? Who do you think will acquire TikTok? Or do you think some other brand than the ones mentioned above are more deserving? Please go ahead and put your thoughts in the comment section.
Though many of us were asked to work from home due to the global health crisis, many enterprise asset managers remained on the job to keep the wheels of industry running. Some are struggling with the challenge while others are rising to the occasion, and the difference between the two could be a matter of technology. Today, technology is ruling the business landscape. Asset maintenance and management is no exception. Most of the companies today are using an enterprise asset management solution to keep their assets and equipment optimized.
If implemented correctly, it can increase the lifecycle of your assets and take care of your assets related service and maintenance functions.
However, the key lies in choosing the right enterprise management solution that meets all your requirements.
The right enterprise management solution will help you maximize uptime, minimize costs, extend assets’ lifecycle, boost operational performance, and accelerate transformation in your enterprise asset management practices.
Let’s look into some of the reasons why you need an enterprise asset management solution.
4 reasons why you need an enterprise management solution
1. Quick problem identification and management
Manual asset management makes it difficult to keep track of all the assets, their working condition, and so on. Not just that, it may even delay detecting the problems with the asset – if any. Thereby, further adding to the already existing problems.
You won’t have to deal with this manually if you have an enterprise asset management solution. With this solution, depending on how frequent each equipment or machine works, you can set a specific time for its checkup. For instance, you can schedule the check-up for 15 days, 1 month, or 2 months. The enterprise asset management solution that you implemented will automatically inspect theses assets and in case it identifies any problem with the assets – it immediately schedules for a thorough machine check-up or even a repair. Thereby, saving you, your time, energy, and money, and improving the overall production efficiency.
2. Real-time asset tracking
Enterprise asset management solution offers an amazing feature called – asset tracking. This is literally a life-saving feature as it saves you from doing a load of manual tasks. It also comes with an application that you can install on your phone. Thereby, allowing you to monitor and track the assets you want at any time, anywhere.
This feature of asset tracking has 2 facets:
The 1st facet is the physical location tracking system. This is usually used for mobile assets. The enterprise asset management solution uses technologies such as GPS, barcode, and RFID (Radio Frequency Identification) systems to track the physical location of the assets. This feature enables you to physically track the delivery of assets, plan the route, and also helps you to constantly monitor the movable assets.
The second facet of tracking is identifying the stage at which the asset is during its lifecycle. For instance, to detect if the assets need servicing, replacement or need to be disposed of, and so on. It also helps you to track the overall performance of the assets.
In a nutshell, asset tracking feature helps you get answers for all the asset-related question, like:
How many assets does the organization possess?
Where are these assets located
How many assets are in use, as of now?
How is each asset performing? etc
3. Provides insightful and detailed reports
Enterprise asset management solution offers deep analytics and reports on all organizational assets and their performance. Data adds great value to an organization in its path of business evolution and expansion. It enables an organization to obtain the insights it is looking for, to make strategic business decisions. Not just that, but it also helps to identify the areas that need improvement. For instance, which asset is performing well, which isn’t – what does this mean to the organization’s overall performance? Should the asset be re-evaluated, or changed? etc.
4. Increased productivity, ROI and minimizes costs
An enterprise asset management solution will take away all the mundane manual work that was costing your valuable time and effort. Thereby, giving you the time to focus on more important and high priority tasks – like enhancing customer experience and growing business.
Because it detects the problems with the assets earlier, it will save you a lot of bucks. It also streamlines your asset inventory management, which not only eliminates expenses associated with human errors but also saves money by avoiding superfluous expenditure. Most importantly, it can get product history through which stocks can be refilled in time.
To add on, an enterprise asset management solution also shrinks capital costs, reduce the asset-related operating costs, extend the life span of an asset, and hence improve ROA (return on assets).
Without the right tools, meeting challenges in asset-intensive industries can be complex and time-consuming, thereby hindering your business agility. This is where an enterprise asset management solution can be of help. Today, an enterprise asset management solution is a necessary strategy to efficiently integrate control over – all business functions that can help you monitor and manage assets in a systemized approach. Thereby, ultimately improving productivity, efficiency, and ensuring a greater ROI.
Salesforce Einstein Discovery is a tool for data analysis powered by Artificial Intelligence. It helps users identify data insights. Moreover, explains a wide range of patterns across millions of rows of data in a few minutes. It also helps your team boost productivity and work speed in terms of Predictions, explanations, and recommendations. Hence, Einstein Discovery can be referred to as a personal data assistant – readily available at all times. To quickly sift through piles of data and make accurate predictions.
What can Einstein Discovery do for your business?
The greatest advantage of Einstein Discovery is that it can help you deal with humongous amounts of data that are presently sitting in different systems and offering little or no value to your business. It is an excellent tool in handling the Terabytes, Gigabytes, Petabytes, and Yottabytes that the systems of your business collate day after day. It is equally effective to help you make smart, informed, and data-driven decisions at an individual or group level. Einstein Discovery empowers business operators to discover insights from various data combinations in a few minutes itself. It is like having an individual data scientist who is available to rapidly filter through a large quantity of data to locate the critical patterns. When it’s finished analyzing your data, it creates natural-language answers, clarifications, and suggestions in a way that is simple for business operators to understand.
Analyze millions of data combinations in just a few minutes and get answers to significant business questions.
Meet and surpass client demands by understanding clarifications behind the insights and act on recommendations.
Natural-Language report generation
Collaborate and share insights smoothly. Moreover, create reports as natural-language stories that can be transferred as Word documents or PowerPoint presentations. Also into speaker notes via automated embedding.
Data from any structured source
Einstein Discovery works with the same information you do, whether it’s in Salesforce, a CSV file on your computer, Hadoop, Heroku Postgres, SAP, or any number of organized datasheets.
User feedback loop
Improve automated learned model by just providing thumbs up/down feedback based on your domain skills to empower even more accurate analysis of your data.
Benefits of Einstein Discovery
Quick and smart data discovery: The data analytics function of Einstein Discovery is quick to gather your data from millions of data rows and data combinations within minutes.
Quality data analysis: With the collected data, analytics happens in a jiffy to provide you deep insights on what had happened earlier, why those happened, and what could happen.
Precise predictions and recommendations: Einstein Discovery offers a blend of descriptive, diagnostic, predictive, and prescriptive analytics.
Salesforce automation: Results can be visualized in Salesforce Einstein Analytics, employed for triggering Salesforce automation, and included in Salesforce dashboards & reports in Natural Language.
User-friendly consumption: The collection of charts, graphs, statistics, and narrative explanations in natural language helps in better understanding the business-relevant metrics.
Smooth collaboration and sharing: Export stories by Einstein Discovery to Microsoft PowerPoint, Word, or Salesforce Wave Analytics.
In this highly competitive market, organizations are constantly trying to analyze their data. This is for making informed decisions to outrun their competitors. That is where data analytics and data scientists play a major role. With an enormous amount of data available to work with, these data scientists analyze several dataset combinations. Also, apply mathematical models and provide insights that help organizations make the correct decision. Organizations are also looking for tools that can provide quicker and smarter solutions. With AI and ML advancing by leaps and bounds, there is no shortage of business intelligence tools in the market. Therefore, Salesforce Einstein Discovery stands out in the market because of its powerful performance and unheard-of simplicity in use.
With so much of our lives now taking place online, the need for safety and security is greater than ever. We need to be able to trust that our networks are secure from attacks and reliable in their levels of connectivity. Also, we need to be sure as individuals that we are as safe when operating online as we are when offline, with trusted identity and security systems in place.
Now that Covid-19 is truly global, working remotely is the new normal and the integrity and availability of data and systems have never been more important. This global crisis has been majorly impacting modes of working, technology choices, risk monitoring capabilities, and more. Moreover, a lot of disinformation, misinformation, and fake news has been floating around regarding the Covid-19 pandemic. Citizens are not only the end victims of these falsehoods but are also prone to forwarding messages without fact verification.
So, how to prepare, monitor, take action, and sustain organizations during a pandemic crisis? What must organizations do now while preparing for what happens next — during the Covid-19 pandemic and beyond? In the wake of this, maintaining cyber resilience is of utmost importance for organizations worldwide.
Learning Some Hard Lessons Around Cyber Resilience
There are some lessons around resilience from Covid-19. It has pushed organizations to rethink business models to deal with changes in working patterns, customer support, and supply chain management. Organizations now have a clearer idea of who and what matters to their businesses. They have been changing their policies around crisis management and cyber resilience. The ongoing pandemic is also an opportunity for organizations to assess their IT infrastructure. They should deploy robust and advanced cybersecurity solutions.
Security and risk management leaders now must safeguard their companies on a massive scale, and quickly. They must ensure that their online services and digital platforms are resilient against cyberattacks. Lessons from this crisis also matter for the future, and we should remember to incorporate them into future operating models.
As this pandemic unfolds, organizations need to prioritize resiliency more than anything else. This includes how to identify, resist, and respond to disruptive cyber events. To effectively build resiliency during this new working reality, organizations need to focus on the four key pillars: People, Process, Technology & Compliance.
Thus, to remain resilient, organizations must ensure that they are still able to:
Respond effectively and efficiently to cyber incidents
Maintain cyber resilience
Maintain wider cybersecurity posture
Cyber resilience goes beyond just protecting critical information infrastructure. The ability to recover and for life to continue in the face of these adverse cyber events depends on developing an effective cyber resilience strategy involving different stakeholders. Hence, the goal is to create the capability and methodology to anticipate threats, monitor the impact of the threats, and respond quickly to ensure the continuation of business operations.
Considering the above, governments and citizens can build cyber resilience through several measures in the time of Covid-19 and beyond. First and foremost, citizens need to gain a basic awareness of the cyber risks and vulnerabilities that might affect them. They also need to develop an awareness of when things are not going right and when they have been a victim of an adverse cyber incident. Furthermore, to accelerate cyber resilience across different countries, governments are recommended to frame cyber resilience at the societal level. They must also operationalize resilience through well-defined and structured programs, resilience metrics, and resilience maturity models.
Now, let’s look at 5 effective strategies to help in building cyber resilience:
1. Building cyber resilience during WFH
The coronavirus pandemic is causing significant changes in global markets, with a possibility of the steepest economic downturn since the Great Depression, according to the International Monetary Fund. Given the current financial volatility, we have already seen layoffs, furloughs, and reductions in work hours. In this uncertain time, remote working can help protect your business and improve resilience, but only if you get it right. Remote working, however, brings new challenges and you need to adapt your cybersecurity safeguards to take account of this. Good operational resilience is vital, regardless of whether your people are working remotely or on-premises. Effectively managing information security, data protection, and cyber resilience processes can support your business while your employees are remote working during the lockdown.
In this new working reality, adapting and keeping a focus on cybersecurity in all settings is critical. Here’s what you can do to work from home more securely.
Secure your working environment:
Try to designate a room as your home office, lock the door if you can. Ensure private conversations remain private by turning off Alexa and Google Assistant.
Maintain a clean desk policy:
Make certain all paper copies of sensitive information are stored out of sight and secure when not in use.
Ensure screen locking:
Lock screens when not in use and shut down devices when the working day is over.
Establish strong passwords:
Secure your work device with strong passwords, consider using a password manager.
Keep work and home devices separate:
Don’t use work devices to download personal apps or conferencing tools without IT permit.
Connect through VPN:
Always connect through a VPN to ensure your internet connection is stable and encrypted.
Secure WiFi access points:
Verify wireless routers use WPA2 and ensure they’re protected with strong passwords.
Be wary of Covid-19 phishing attacks/ scams:
Organized crime groups are using false information on Covid-19 to target organizations and individuals for a range of scams. Be watchful of the emails you receive in your inbox. Do not click on a suspicious link.
2. Secure collaboration tools
While email, office productivity tools, and video conferencing have been vital during the pandemic, you may choose to innovate by adopting and using additional secure collaboration tools. Exploring new capabilities, such as augmented/virtual reality (AR/VR) or AI chatbots can enhance business operations.
3. Develop and an effective cybersecurity policy
Refresh and update cybersecurity policies to address pandemic-triggered IT capabilities, architecture, and processes. Also, consider conducting a risk assessment and identifying enforcement mechanisms, such as multi-factor authentication, single sign-on, and automatic logout from unattended devices.
4. Establish a BYOD Policy
This is the bring-your-own-device policy. Many organizations chose to allow employees to use their devices, including laptops, mobile phones, and tablets, for work. Amidst the Covid-19 crisis, work phone calls have been routed to personal mobile phones, and emails are made available on personal devices. Moreover, an increasing number of employees are permitted to access cloud-based applications from personal devices. It is advisable to establish a new work policy keeping cyber resilience in mind. This is to document any new measures/ practices implemented during the pandemic.
5. Refurbish the supply chain & third-party management:
The pandemic has led your supply chain partners and other third parties to transform their business models. Given this, organizations should consider:
Reviewing third-party agreements, including service-level agreements with IT providers, to ensure they meet current business requirements.
Conducting cybersecurity audits and establish ongoing audit requirements for all third parties with authorized access to company networks, systems, or data.
Cyber Resilience for the Present and Future
Organizations today need a unique, secure, scalable, and comprehensive approach to discover, identify, prioritize, and act upon risks associated with the pandemic and its overall impact on an organization’s security structure. Organizations should consider blending new cybersecurity investments with enhanced cyber insurance coverage to reduce their retained risk, optimize spending, and preserve resources. Today’s IT and network capabilities have enabled the strategies that have kept many companies afloat during the pandemic. The post-pandemic recovery and preparation period presents the opportunity for companies to rebuild to a new normal, with enterprise resilience as a pervasive goal.
Are you still using spreadsheets to go about your expense management? If yes, its time you rethink your entire expense management strategy – in fact, it’s time you automate your expenses. This will not only take a major chunk of manual labor off your’s and your people’s shoulders but will give extra time to work on rather high-priority strategic tasks. Not just that, it will also significantly lower the percentage of human errors.
A recent Forrester study found that legacy technology and poor alignment between IT and finance teams are the root causes of poor spend management. When IT and finance work together to automate your expense, travel, and invoice management, it can lead to greater employee satisfaction and compliance.
Expense reports need not be a hassle, provided its created with great thought and precision. There are several ways to make this process less bitter and painful. Let’s see how expense automation can save you a lot of time and money.
Top 5 reasons why you should automate your expenses
1. Accurate reports with fewer errors
Did you know? 19% of expense reports are filed incorrectly each year. And the damage these errors can do your business is unimaginable. On one hand, these errors can become a serious time drain for your teams. On the other hand, it is a mammoth task to identify these errors in the first place.
But when you automate your expenses with the help of the automation tools that suits your organization’s needs – the results are better with fewer mistakes. Because these tools walk employees through claims step by step, it’s far more difficult for errors to slip through. Most importantly, these tools come with OCR technology that reads receipts for you and ensures they match the claim. Thereby, giving you accurate and timely reports with zero room for errors.
2. No more missing reports or receipts
One of the biggest issues with traditional expense reports is lost or missing receipts. In addition, the next big headache is to ensure the shared receipts match with the payments made. This is no joke. Imagine scanning and manually verifying 1000’s or more receipts. This leaves plenty of room for errors, and also double-handling of receipts.
What if you could do all this with just a snap of a finger? Automation tools make this possible. All you have to do is take a photo of the receipt and upload it to the software. Rest, the tool will take care. Isn’t that amazing? This expense entry will now be saved for life unless you delete it from the server. The best part is, you don’t need to take a print out of receipts and manually file them anymore. Thereby saving paper and doing your bit to conserve natural resources.
3. Better compliance rates
Imagine its the financial closing year – you are busy with a lot of year-end work and suddenly a multitude of expenses starts pouring in! That’s gonna be a hell of a task – where your finance team has to track and enter all those transactions in a spreadsheet along with all the other tasks they are expected to complete. That is, they would have to validate every single expense against the travel expense policy manually. Manual expense processing can also mean that out-of-policy expenses slip through the cracks and your finance team ends up reimbursing your employees for policy violations.
In other words, enforcing travel expense policies and maintaining compliance can be quite daunting when you don’t have a proper system in place. This is where the expense management solution pitches in, saving you a lot of time and not mention – your sanity! When you automate your expenses, the programmed system will automatically detect and flag expenses that violate the travel policy. Not just that it will also notify the approvers about the policy violations as and when they occur. Thereby simplifying your finance team’s work by removing unnecessary time-consuming manual jobs.
4. Detects and prevents expense fraud
The chaotic environment of manual expense processing makes it easy for fraudulent practices to occur. For instance, this may include practices like submitting the same receipt twice, rounding up mileage expenses, etc.
Manual expense processing makes it extremely hard to detect suspicious claims. And even if you detect fake claims, the follow-up process is extremely strenuous. Thereby, delaying the problem resolution time and costing you – your valuable time.
Automation is a great way to put an end to expense fraud. When you automate your expenses and responses related to it, the system can easily pick up duplicate entries and send a notification to the submitter and the approver to either merge or delete the expense.
Also, with customized workflows, you can maximize transparency by enabling a double review process. This will ensure there’s at least one additional review after the immediate approver’s review before reimbursing the expenses.
5. Better financial visibility
Manually managing expenses not only affect data accuracy but also limits how much visibility you have into your company’s cash flow. For all that you know – the insights that you gather could be outdated. To get a clear picture of when and where the firm’s funds are being utilized, you need at least a week’s time to go through the records to come up with a detailed report. Also, to make quick, informed decisions – you need to be able to analyze and view data as when the events take place. This is absolutely impossible when you are required to manually manage 100’s or 1000’s of expenses. But this is no big deal for expense management systems which can easily manage 1000’s and even more expenses and generate detailed reports at the same time.
Today, most expense management systems provide extensive reports on expenses, trips, policy violations, reimbursements, and much more. For instance, with just a few clicks, you can use the policy violations report to view the top policy violators in your firm or use the expenses by category report to view your employees’ spending patterns. These systems make it easier and simpler to monitor your cash flow and track your firm’s financial performance. Thereby, equipping you with all the resources you need to make informed, strategic financial decisions.
Automating your expense management is a relatively simple task that will save your company many unproductive man-hours because employees no longer have to deal with tedious expense reports. Thereby, saving a lot of time, reducing costs, and yielding a better ROI and productivity.
We have listed out some of the ways you can benefit by automating your expenses. If you or anybody you know have implemented an expense management solution and have experienced benefits that are missing in this post, please feel free to share it with us. Drop us a comment 🙂
Facial recognition is a hot topic of 2020. Today, along with AI and IoT, facial recognition technology is also defining our millennium. Now, with the announcement of the iPhone X’s Face ID technology, facial recognition has become an even more popular topic. Moreover, it is regarded to be a faster and precious method of image analysis for human verification and authentication through an individual’s facial contour. The modern usage of face detection technology is for various purposes including – security, business intelligence, and digital marketing.
Today, companies are pitching facial recognition software as the future of everything from retail to policing. In the current era, a human face is not only used for social interactions but also extensively utilized to unlock various devices. Moreover, it utilizes the human face to act as a password for multiple devices employing biometric face recognition technology. The facial recognition system is gaining more popularity across industries ranging from healthcare, law enforcement, retail, hospitality to marketing.
The Covid-19 pandemic also paves way for more facial recognition systems, combined with other biometric techniques. As digitization and digitalization are accelerating in several areas due to the new working norms, all major businesses will witness an increasing usage of face recognition technologies.
NEC’s NeoFace® Thermal Express provides rapid, touchless physical access and hygienic thermal screening in demanding, high-throughput. NEC’s proven touchless technology and expertise support the ongoing mission of a new, safer, and hygienic experience. With over 50 years of successfully supporting a diverse range of U.S. federal missions, NEC offers proven touchless services and expertise to support a DX mission for federal agencies that will improve processes, deliver touchless experiences, and make interactions seamlessly safe.
One example of how NEC can help address post-Covid challenges is via secure access management solutions. Gaining physical access to public sector facilities in a contactless and hygienic manner is challenging.
Product highlights include:
NeoFace® Express – frictionless identification systemto simplify and enhance passengers’ experience while increasing security.
NEC Enhanced Video Analytics (EVA) – biometric analytics technology allowing for instant detection, identification, and tracking of suspicious individuals in a crowd.
NEC’s award-winning solutions are backed by rigorous research and development including more than $2.6B invested in R&D annually.
One of the top leaders in facial recognition technology is Deep Vision AI. It is a computer vision software company that excels at facial recognition. It applies advanced computer vision technology to understand images and videos automatically, turning visual content into real-time analytics and valuable insights. With more than 500M existing cameras worldwide today, Deep Vision AI provides the ability to analyze camera streams through different AI-based software modules on a single platform, enabling users with real-time alerts and quick response times. Moreover, Deep Vision AI offers the best performance solution in the market supporting real-time processing at +15 streams per GPU.
To comply with the EU General Data Protection Regulation (GDPR) and other international data protection laws, Deep Vision AI applies significant measures to assure a transparent and secure process of the data involved within the provision of its services to customers and partners. Furthermore, Deep Vision AI is a certified partner for NVIDIA’s Metropolis, Dell Digital Cities, Amazon AWS, Microsoft, Red Hat, and others.
Rekognition is a cloud-based SaaS computer vision platform by Amazon. It is one of the top leaders in facial recognition technology. With this platform, one can identify objects, people, text, and activities in images and videos. It also provides highly accurate facial analysis and facial search capabilities that can be used to detect, analyze, and compare faces for a wide variety of user verification.
With Amazon Rekognition Custom Labels, organizations can identify the objects and scenes in images that are specific to their business needs. Furthermore, Amazon’s Custom Labels takes care of the heavy lifting of model development for organizations. People simply need to supply images of objects or scenes they want to identify, and the service handles the rest.
The FaceFirst software helps create safer communities and more secure transactions while providing great customer service. FaceFirst software is accurate, fast, scalable, and secure. It also offers plug-and-play solutions for physical security, identity authentication, access control and visitor analytics, and robust SDK/APIs for easy integration into any system.
As a leading provider of effective facial recognition systems, it benefits industries ranging from retail, transportation, event security to casinos, and other hospitality parallels. Furthermore, FaceFirst leverages AI to integrate with surveillance systems to prevent theft, fraud, and violence.
Cognitec is among the top market leaders in developing facial recognition technology and applications. Cognitec’s portfolio includes products for facial image database search, recorded video investigation, real-time video screening, and people analytics.
Cognitec’s FaceVACS Engine enables clients worldwide to develop new face recognition applications. It provides a clear and logical API for easy integration in other software programs. Cognitec provides the FaceVACS Engine through customized software development kits, with a set of functions and modules specific to each use case. Specific use cases include image quality check, verification for document issuance, and verification for access control.
Some of the key features are:
Powerful face localization coupled with face tracking on images and video streams.
Powerful matching algorithms for enrollment, verification, and identification.
Accurate portrait characteristics check for gender, age, pose deviation, exposure, the closing of eyes, uniform lighting, face geometry, and more.
The future of facial recognition technology
The future of facial recognition technology is bright. The whole world is using this technology and reaping many benefits. Governments across the world are increasingly investing their resources in facial recognition technology. More retailers and banking systems are also adopting this technology to prevent fraud in debit/credit card purchases and payment, particularly digital. Moreover, universities and even healthcare are also planning to implement better facial recognition technology on their premises for greater management. In the long run, robots using facial recognition technology may also come into play.
A study published in June 2019estimated that the current facial recognition market is estimated at $3.2 billion and is expected to grow to $7 billion in revenue by 2024 at a CAGR of 16%. In addition, forecasters opine that this technology is expected to grow at a formidable rate and will generate huge revenues in the coming years.
Technology is changing the way most industries do business, and retail is no exception to the ever-evolving advancements. Can you guess the technology that is taking over the retail industry by storm these days? Yes, you guessed it right – Mobile Technology! Retailers today can benefit from mobile technology in many ways and this list just keeps getting better every day.
Here’s a fun fact! Did you know? People check mobile devices, 85 times a day on an average! I can sense many virtual hands going up. We rely on our mobile phones for everything – from calls to shopping to working, and much more. We have reached a stage where it’s almost impossible for us to live on without our mobile phones. It’s no joke how much and what all we can do with this tiny device that we all love so much. Out of all this, texting and shopping take up the major chunk.
That is, mobile shopping has greatly spiked in the last few years, and especially today with the global health crisis – people across the world are relying on online shopping to fend for their needs. And for shoppers, mobile sure is a massive part of this retail experience.
Given this scenario, mobile interaction becomes a critical component for boosting loyalty and enhancing the overall customer experience. Mobile technology for sure is the future of the retail business world. This is why ensuring a pleasing and engaging mobile presence is crucial for retail businesses to retain and nurture potential customers.
There’s a number of new technology systems that are being implemented, and are definitely worth considering to be able to survive in this heavily competitive retail market.
Here are some of the ways retailers can benefit from mobile technology.
3 ways retailers can benefit from mobile technology
1. Easy and safe payment procedure
Shopping, today is more convenient than ever for customers – thanks to mobile wallet technology! Customers are no longer required to carry cash to make purchases anymore. Just their mobile devices will do the trick.
Mobile wallets, housed on peoples’ smartphones – store the users’ credit and debit card information, allowing them to simply tap buttons or hold their phones over a payment device to complete transactions. To add on, experts predict that mobile wallets are going to continue to grow in popularity, thereby, cutting down waiting time and increasing payment security.
Not just that retailers today are also turning to online checkout tools to help streamline the online shopping experience for their consumers. With online shopping becoming the main avenue for all forms of shopping, it’s important for vendors to have a safe and secure checkout system for their online customers.
That being said, today’s modern systems makes it convenient for consumers to order right from their mobile devices and allow users to securely complete the transaction process on the product page itself – without pushing them to a third-party site or payment service. Thereby, making it a hassle-free and user-friendly endeavor.
2. Better customer service
The online consumer is looking for a great deal just as much as the in-store consumer, and it’s important to provide both with a superior experience. Let’s look at how mobile technology is helping retailers create better customer experience:
Beacons: Beacons are devices that use Bluetooth technology to send messages to mobile devices that are near to them. Retail stores use beacons to send relevant deals to customers or alert them about products they’ve previously bought or expressed interest in buying. To add on, a study by Swirl states revealed that 73% percent of shoppers surveyed said that beacon-triggered content/offers increased their likelihood to purchase during their store visit, thereby showing impressive sales results for companies.
Shopping apps and chatbots: Without a doubt, shopping Apps enable instant and direct communication between the brand and consumers. And this is further enhanced through the use of AI-powered chatbots. Retailers today greatly rely on chatbots to support a large volume of customer requests with less staff and in less time.
Barcode scanning: Barcode scanning Apps provide shoppers more information about a product by scanning the barcode on it. It helps the customers find the price without having to ask a store assistant. Not just that it allows them to compare prices with similar products elsewhere.
Dressing Rooms: Dressing rooms in retail stores can be uncomfortable and inconvenient at times. For instance, Imagine a long queue that you have to surpass for just trying out a pant! Frustrating isn’t it? And, what if halfway through the selection, you may want to get something from the floor? As a solution to this, some retailers started providing digital screens where shoppers could select products and start a ‘digital fitting room’ – where the sales representatives would stock the actual fitting rooms with the chosen items.
3. Apps for your sales staff
To make shopping better for both sales staff and their customers, companies have developed apps for their in-store employees. Equipping employees with modern mobile technologies, whether company-owned or personal, enables retailers to improve productivity, customer service, merchandising, and sales. These apps help sales staff to
Look up a customer’s previous purchases, and
Provide more in-depth product information
And, these apps allow customers to directly message a sales associate. Also, it enables sales associates to provide a faster and more personalized customer service to consumers. Thereby, making the entire purchase experience better for everyone involved. Thereby, leading to satisfied customers, elevated sales & productivity, and better retention rate.
With the current retail trends, there are no signs of mobile slowing down anytime soon. In this post, we have captured broad uses of mobile technology for the retail business. However, there are more ways of how retailers can benefit from mobile technology and this list just keeps expanding every day. With the right blend of strategy and technology, mobile technologies are now an integral part of the buyer’s journey – right from information gathering to purchase and post-purchase. So, the key to succeeding in this digital era is to provide the best user experience throughout this journey and acquire and retain more customers.
Which mobile technology is your business using? Drop-in a comment!
“Necessity is the mother of invention”, said the ancient Greek philosopher Plato. Going by this, we have come a long way especially in terms of technology and inventions. A need or problem encourages creative efforts, pushing us to create or invent appropriate solutions to meet that very need or solve that problem. This need has inspired us, humans, to keep evolving continuously. In this regard, the things that we have created, the technology we have designed so far – are just mind-blowing. In this post, we will be talking about such cool tech gadgets that will simply blow your mind.
Without further ado, let’s look into some of the cool tech gadgets that may pique your interest.
Here are the 7 cool tech gadgets
Water is soon to become our ‘blue gold’. Some places are already facing a dearth of water supply. It’s everybody’s responsibility to use water wisely and save this soon to be diminishing resource as much as possible.
Therefore, decentralized recycling & reusing of water is the most effective and economical alternative source of water. By recycling ‘at the source’ and using water twice, we can substantially curb the increasing demand in freshwater.
In this regard, Hydraloop developed one of its kind, compact, next-generation, smart, self-cleaning, low maintenance water recycling products.
This device that resembles a refrigerator recycles and cleans about 85% of the water you use in your home, be it for showers, for dishes, laundry, the wastewater from water filters, etc. Not just that, the hydraloop’s app keeps you updated on the recycling process and your total water usage.
This device favors an efficient living lifestyle and not just saves the mother earth but your overall bill will significantly go down as well. Now, isn’t that amazing?
2. NuraLoop headphones
Imagine an earphone that can give you a hearing test and tune the sound frequencies as per your ear’s sensitivity level? Wouldn’t that be amazing! Well, the good news is that there is an earphone that actually does all this – it’s called ‘Nuraphone.’
These smart, cleverly designed headphones are shaped into a set of bluetooth earphones called the NuraLoop.
It has amazing tech features – be it the noise-canceling feature or the touch controls. To add on, it has a few extra smart touch features, like the magnetic analogue jack that lets you connect to your earphones with wires, or the smart on/off feature that automatically switches them on when you put them around your head.
However, the most important feature that sets apart from all the other features is the ‘sound.’ These headphones let you hear sounds that you didn’t know even existed earlier. In other words, it gives amazing sound quality, where it blends all the sounds beautifully which is beyond one’s imagination. And the best feature of all is its ability to adjust the sound to your ear’s sensitivity level. Among the other cool tech gadgets – this one is my favorite. No other headphone has been able to give a competition to this yet. However, we are unsure of what the future may bring to us. Fingers’ crossed!
3. Zoom for Home – DTEN ME
Zoom today has been in the news a lot for all the good or rather controversial reasons. With remote work/work-from-home on the rise, many businesses and individuals have turned to zooms for personal and business meetings. Zoom has gained a lot of popularity these days and in spite of the rumors – people are increasingly using this amazing video-conferencing app. The main reason for its increased usage is that it’s extremely user-friendly.
Many of us use Zoom on our desktops, laptops, and mobiles. Now Imagine zoom application as a gadget by itself and as part of your household commodity. Surprised? Yes, you heard it right! Zoom has other ideas. They are soon going to release a giant 27-inch touchscreen device purely to make Zoom calls easier
This device includes three wide-angle cameras for high-resolution video calls, an eight-microphone array for clearer audio, and can be used independently of any other device as well as a second monitor. Now, isn’t that something!
4. Bellabeat Leaf health tracker
Who would have thought a piece of ornament could help you transform your life for the better?
Fortunately, there is a health tracker that looks gorgeous and most importantly keeps a check on your health. Bellabeat Leaf is the name of this fitness tracker.
The good news with this tracker is that it can be worn as a necklace or bracelet without looking bulky or obtrusive. Not just that, it also perfectly syncs with both iOS and Android and collects activity metrics via the companion app.
This leaf-shaped fitness tracker tracks the total steps you take, the calories burnt, your sleep quality, stress levels, menstrual cycles, and more. It’s the most stylish and useful fitness tracker a person can ask for.
5. Self-cleaning water bottle by WAKEcup
Are you tired of cleaning your water bottle? Who likes to see the mold grow at the bottom of the bottle, even after cleaning it a number of times?
Cleaning your water bottle, especially scrubbing right into those distant corners at the bottom of it is no joke. Answering a lot of our pleas, the WAKEcup has designed a brilliant water bottle that can clean itself. Isn’t that amazing? No more bottle-cleaning required, yay!
This WAKEcup 550ml water bottle has an ultraviolet light in the lid which in 3 minutes promises to kill 99.99% of the bacteria, viruses, and mold that you might have otherwise missed while cleaning.
6. An interactive audio player by Yoto
Have you heard about cassettes? Of course, you must have!
If you were a 90’s kid or born before that then ‘cassettes’ sure does bring back a bagful of wonderful memories.
To bring back those memories and to make it available to this generations’ kids, Yoto has designed an interactive audio player, which today is rated as one of the cool tech gadgets. You can call it a modern-day equivalent cassette player for kids that aims to entertain and engage kids.
This interesting audio player unlike tapes works by slotting in cards and each of these cards contains a story to listen to. These cards contain loads of classic stories ranging from ‘The Gruffalo and Roald Dahl’s’ to Charlie and the Chocolate Factory and so on… Also, it has other cards that contain podcasts, radio, and some amazing activities that kids can play. Instead of a screen it has a cute pixelated display, with colorful buttons for volumes and skipping tracks. The best part is – it is extremely kid-friendly and even a 2-year-old can operate it with ease.
For modern-day parents who are in constant hunting for activities to spark their kids’ intelligence, creativity, and most importantly keep them engaged – Yoto, sure is a blessing in disguise!
7. Lexilife Lexilight dyslexia reading lamp
A recent study found that approximately 15% of people have dyslexia. This equates to over 30 million adults in the United States, about 6 million in the United Kingdom, and 3 million in Canada. Unfortunately, most don’t know they are dyslexic!
To add on, a small study published in 2017 found evidence that one of the causes for the disease could be due to a patch of light-sensitive cells in the eye. The study claimed that these cells are arranged differently between the two eyes in non-dyslexics – with information from one eye overriding the other. However, that’s not the case in people with dyslexia. For them, both the eyes have the same pattern, where two pieces of information are sent to the brain at the same time. Thereby, creating a mirror effect.
To help the dyslexic community, Lexilife has come up with a brilliant gadget – Lexilight reading lamp. The light from this reading lamp claims to reduce this mirroring effect by using pulsed light to allow one eye to take dominance. Thereby, enabling people with dyslexia to read comfortably. Though it’s not a cure, it does ease the life of a person with dyslexia.
Which cool tech gadget did you like the most? Comment and let us know!
Have you tried the new Microsoft Edge Yet? In this post, we’ll be discussing all about the Edge browser. And the benefits that come with making Microsoft Edge your default browser.
We know everybody loves Chrome and Firefox – I do too! And we all think twice before changing our browser. However, there is no harm in trying the new Edge browser. Who knows you may end up liking it more!
What’s so special about this new Microsoft Edge Browser?
The new Microsoft Edge is based on the Chromium open-source project. Chromium is the foundation of Google Chrome, and hence the new Edge somewhat resembles Google Chrome. To add on, it further includes features similar to Chrome, supports Chrome browser extensions, and also has the same rendering engine as Google Chrome.
The new edge overcomes the flaws of the old edge. Remember how a website that was designed for Google Chrome used to mal-function in the old Edge? Well, not anymore! The new Edge overcomes this fallacy.
Here’s a brownie point: Microsoft Edge Browser even supports all your favorite Chrome browser extensions. Not just that, it’s really fast, makes it easier to organize information, keeps your personal information private, and provides safety against hackers.
It’s time you bid adieuto the good old Legacy Edge Browser days. Finally, the waiting days are over! With the new Edge browser, you don’t have to wait for Windows 10 to release its major versions to update your browser anymore! Similar to Google Chrome, this new version of Microsoft Edge Browser will update itself every 6 weeks. Isn’t that amazing?
What are you waiting for? The benefits of making Microsoft Edge Your default browser are many. We recommend you give it a try to experience what it’s capable of!
Let’s look into each of these benefits now.
3 Benefits of making Microsoft Edge Your default browser
1. Absolute Security
Advertisers tracking you while you are browsing something is the least you want! Not any more. Yes, you heard it right! The new Microsoft Edge Browser prevents advertisers from tracking you across the internet by default. The best part is you can set the privacy settings the way you want it. There are 3 simple settings –
With these settings, you can now easily set how strong you want these privacy settings to be. Not just that, it also helps you to block what Edge considers “potentially irrelevant or unwanted apps.” This includes adware and other ad applications that you may install unintentionally. While all major browsers block dangerous downloads, Edge takes it a step further. This setting, however, needs to be enabled. You can do it by going to the ‘privacy and services’ tab under the ‘settings’ section.
In addition, Edge’s InPrivate mode does a good job of keeping your browser activity private, in fact, better than Chrome’s Incognito mode. That is, it automatically deletes history, cookies, and site data once you close Edge after browsing with InPrivate mode. It even takes a step further by clearing search data. But this won’t work if you are using google search. That being said, it’ a great security feature you won’t find in other browsers.
Coming to the show-stopper feature – it will alert you when your password has been compromised by a data breach. In conclusion, Microsoft Edge offers amazing security features that are crucial for a modern-day web-browsing experience.
2. Provides Focused User Experience
There are many perks to making Microsoft Edge your default browser. One of them being the ‘customization feature.’ It allows you to customize the look of your browser. You can also change the font and the text size. It offers themes like Focused, Inspirational, and Custom.
In the focused theme, you can just see your top links and a search bar
In the Inspirational theme, you’ll get a new image on the tab page every day
Finally, the informational theme offers customized news feeds
Edge also offers the reader mode – a favorite feature of many. This reader mode takes all the distracting side menus and all the ads out your way – giving you a clear picture. This feature functions beautifully in both – the mob and the website version. Not just that, this Edge feature even highlights sections as you scroll, thereby, helping you focus on one block of a text at a time. To add on, there is a read-aloud feature that sounds natural and pleasing to listen to. This feature is extremely useful for people with visual impairments.
3. Organized Browsing
There is no one in the world that hasn’t opened multiple tabs at least once in their lifetime. Confession time! This is one thing that we all are guilty of. Even now while you are reading this blog, you might have dozens of tabs open! This kind of slows down your browser, thereby making it hard to find what you’re looking for. But Edge has a couple of powerful features like ‘vertical tabs’ that help keep those browser tabs in line.
While other tools like Evernote or OneNote require extensions to work with your browser, Edge’s ‘Collection’ is built right into the browser. ‘Collections’ offers you to gather information from different websites and store it for later use. And the best thing about collections is that you can access it from anywhere, be it on PC, Android, iOS, or Mac.
Without a doubt, Edge makes it a lot easier to keep track of everything you’ve been working on so you can always find what you need. It’s simple, intuitive, and uncluttered and most importantly helps you keep track of your information.
We believe it’s worth trying out the new Edge, at least one. The browser offers a clean design with intuitive features. And since it uses the same rendering engine as Chrome, it can run Chrome extensions, which number in the thousands. Also, unlike Chrome, Edge offers a ‘tracking prevention’ feature, which blocks ad providers from tracking you from website to website.
Consider making Microsoft Edge your default browser not just because we are asking you to do so – but to realize the benefits yourself. If it doesn’t suit your requirements and you find other browsers to be better than this – then you can always switch back!
The pandemic brought down almost every industry to its toes ever since it struck. Stay-at-home orders further contributed to the loss and movement became a punishable offence. A world that was unstoppable has suddenly gotten idle. Even the busiest of the busy, or the VIPs were working while watering their bonsai at home. The great pause from everything barely left much to deal with and people resorted to that one thing that kills time like a pro – gaming.
From most popular games like PubG and League of Legends to least popular ones, every game has become some kind of staple.
The gaming industry divides gamers into 3 categories: light, moderate, and heavy gamers. Light gamers usually play 5 hours a week. Similarly, moderate gamers can give up to 15 hours of their time to gaming. Heavy gamers don’t usually clock in any designated number of hours. However, according to surveys, most gamers from the light and moderate category are spending more than their average hours in 2020.
And the gaming industry is no exception. They have up their game too. Many new games were launched or are upcoming to your PlayStation or Xbox this 2020, such as Pokemon Sword and Shield: Crown Tundra, Apex Legends, NBA 2K21, Planet Coaster, etc.
In the past, gaming was limited to just two devices, PC and console. It all kickstarted from Nokia when it launched the first ever mobile game called “Snake” in 1997. Ever since then, there has been no stopping. One after another, companies reproduced different forms, formats, styles, and methods of gaming. The introduction of VR took gaming to a whole new level. After all, who will forget the first wild year of Pokemon Go. Another new badge to the merit was addition of features like cross-platform play and cross-save functionality.
The mobile gaming industry has overthrown even the entertainment industry in terms of revenue generation. Clearly, mobile gaming stands as the largest portion of the big industry that is gaming. It could be worth $77.2 billion by the end of 2020, estimates New Zoo.
Big names of the gaming industry, such as Nintendo, EA, Rockstar, etc. have been teasing and launching a handful of new games simultaneously.
A lot of games are releasing out this July too. Every gaming corporation has been benevolent in offering great deals and discounts. So, rest assured, if you have plenty of time at home and some bucks to spare, don’t hesitate in buying that next console or video game you always wanted to own.