May 31, 2023 | Tech
Neelesh Kripalani, Chief Technology Officer, Clover Infotech
Generative AI is rapidly transforming the way we live and work. It has already become a vital tool for many organizations, and its impact is expected to grow exponentially in the coming years. According to a recent report by Accenture, AI is expected to add $15.7 trillion to the global economy by 2030, with generative AI being one of the key drivers of this growth.
Several organizations across industries are already experiencing the benefits of generative AI. For instance, Airbnb uses generative AI to enhance its search engine, and as a result, it has seen an increase in bookings and customer satisfaction. Similarly, Google uses generative AI to improve its search engine algorithms, resulting in more accurate search results and higher user engagement.
Here are five predictions on how generative AI will change the way businesses work:
- Streamlining complex processes
Generative AI can automate complex processes that require extensive human intervention, making them more efficient and cost-effective. For example, a healthcare organization can use generative AI to analyze large amounts of patient data to identify patterns and provide personalized treatment plans.
- Enhancing creativity
Generative AI can assist humans in generating creative content such as art, music, and writing. It can analyze vast amounts of data to create unique and original pieces that may not have been possible otherwise. This could revolutionize the entertainment and creative industries. It can also help content creators to create unique content each time. The Washington Post uses generative AI to create custom news articles. The AI tool, called Heliograf, can analyze data on sports events, election results, and other news stories and generate articles based on that data. This enables the newspaper to provide more comprehensive coverage of events and reach a broader audience.
- Improving decision-making
Generative AI can analyze data from multiple sources, enabling organizations to make informed decisions quickly. For example, a financial institution can use generative AI to analyze market data and identify investment opportunities, reducing the risk of human error and bias. P&G, the global consumer goods company, uses generative AI to predict which of its products will be most successful in different regions of the world. By analyzing data on consumer preferences, purchase patterns, and cultural trends, P&G creates personalized marketing campaigns for each market, resulting in increased sales and customer satisfaction.
- Increasing productivity
Generative AI can automate repetitive tasks, freeing up employees’ time to focus on higher-value tasks that require human intervention. This could increase productivity and allow organizations to scale their operations more efficiently.
- Providing better customer experiences
Generative AI can analyze customer data to provide personalized experiences and recommendations. For example, an e-commerce platform can use generative AI to recommend products based on a customer’s previous purchases and browsing history, increasing customer engagement and loyalty. Hilton Hotel’s AI-powered concierge ‘Connie’ takes customer experience to the next level. Connie can answer questions about the hotel and local attractions using natural language processing and provide personalized recommendations based on customer preferences.
Conclusion
The future of generative AI is incredibly promising. With advancements in technology, we can expect generative AI to become more sophisticated and capable of performing even more complex tasks. The use of generative AI is on the rise and is expected to transform the way organizations operate in the near future. From streamlining processes to enhancing creativity and improving decision-making, generative AI has the potential to bring about significant changes across industries. As AI continues to evolve, it will be exciting to see how it will change our lives forever.
May 31, 2023 | Tech
In the dynamic realm of the contemporary digital age, technology assumes a crucial position in molding the operational dynamics and customer interactions of businesses. Within this transformative landscape, a handpicked assortment of forward-thinking enterprises has emerged as pioneers, harnessing technology to challenge conventional practices and reshape their industries. By elevating customer experiences, streamlining compliance procedures, promoting financial inclusivity, and reinforcing cybersecurity measures, these five tech-driven companies are spearheading the journey towards a more streamlined and interconnected tomorrow.
Smartcoin: Revolutionizing Microfinance with Technology
Smartcoin is a technology-driven microfinance company that provides small-ticket loans to individuals who lack access to traditional banking services. Through their mobile app and online platform, Smartcoin offers quick and hassle-free loan disbursals, leveraging data analytics and alternative credit scoring models. By leveraging technology to reach the underserved, Smartcoin is transforming the microfinance landscape and fostering financial inclusion.
Trezix: Enhancing Import Export Sector with End to End Solutions
TreZix is a unified SaaS platform for importers and exporters across the globe. With digitization and Automation, the platform comprehensively manages documentation, approvals, license usage, shipment tracking, and active notifications of businesses to ensure seamless operations. It offers access to a smart dashboard to its clients with real-time data on critical business metrics needed for effective decision-making.
Revfin: Revolutionizing Financial Inclusion
Revfin is a fintech company that aims to bridge the financial inclusion gap by providing innovative financial solutions for EV to underserved individuals and businesses. Leveraging technology, Revfin offers digital lending services, empowering customers with easy access to credit. With streamlined application processes and quick disbursals, Revfin enables individuals and small enterprises to realize their financial goals.
Teamlease Regtech: Streamlining Compliance with Technology
Teamlease Regtech is a cutting-edge technology company focused on simplifying regulatory compliance processes. Through its innovative solutions, the company assists organizations in managing complex compliance requirements effectively. By automating tasks such as document verification, reporting, and risk assessment, Teamlease Regtech empowers businesses to navigate regulatory landscapes efficiently.
Sprinklr: Transforming Customer Experience Management
Sprinklr is a leading customer experience management platform that leverages advanced technology to enable companies to engage with their customers across various digital channels. By providing a unified view of customer interactions, Sprinklr helps businesses optimize their marketing, sales, and customer service strategies, resulting in enhanced customer satisfaction and brand loyalty.
These tech-savvy companies serve as prime examples of how technology can bring about profound transformations across diverse industries. They are revolutionizing customer experiences, regulatory compliance, financial inclusion, cybersecurity, and microfinance through their cutting-edge solutions. By harnessing innovation, these companies are propelling businesses to thrive and flourish in the digital era.
May 30, 2023 | Tech
The Leading Carrier-Neutral Interconnection Platform in the Indian subution of SMEs, SMBs, and other enterprises, as well as the ISPs, Telcos, and Data Centres serving them. In addition to its existing 16 PoPs, DE-CIX India has now deployed its 17th PoP at Sify Tidel Park in Chennai.
DE-CIX India interconnects around 590+ networks and is an IXP in India connecting the ISPs, Content Delivery Networks, Cloud Companies, OTTs and other network providers, along with educational institutes in the connected networks. DE-CIX India also provides its DirectCLOUD service to enable customers to access the DE-CIX Cloud Exchange and connect to global cloud services, including those provided by Microsoft Azure, Google Cloud, Oracle Cloud, and Amazon Web Services. Additionally, DE-CIX India has launched Microsoft Azure Peering Service (MAPS) in collaboration with Microsoft to ensure enterprise-class connectivity to SaaS Services like Dynamics365 and Office365. Additionally, this service is available at the new PoP at Sify Tidel Park in Chennai.
“Interconnection is the key to the adoption, acceleration, and growth of the Internet in any country. Data centres today, are the warehouses of the digital economy, providing a home not only for the data itself but also for the platforms and applications that have become so ubiquitous in the modern world. The new PoPs will attract additional clients with low-latency edge requirements and help them cost-effectively extend their reach through access to a global network platform that reaches hundreds of networks around the world. By offering interconnection solutions that are powerful, flexible, and scalable, we can meet the rapidly growing connectivity needs of global clients across all verticals.
Our ‘Customer First and Customer Delight’ motto is as well-known as our best-in-class services. Since civil infrastructure development in the area is currently underway, we strategically foresaw that there is a threat of potential fibre cuts. Hence, we built a network with four diverse fibre optic routes to ensure continuous, uninterrupted service”, says Sudhir Kunder, Country Director, DE-CIX India.
With 9 PoPs in Mumbai, 4 in Delhi, 3 in Chennai, and 1 in Kolkata. The organisation largely increased its ability to offer new connectivity options. Beginning with Web Werks DC 2 in Mumbai, it expanded to other locations in Delhi, Kolkata, and Chennai, with the one at Sify Tidel Park in Chennai being the latest addition.
May 30, 2023 | Tech
With new technologies and applications emerging every day, companies are struggling to keep up with the ever-evolving digital landscape and need modern infrastructure solutions, which are secure and reliable and can help them stay competitive.
In line with this Team Computers, one of the leading IT solution providers in India, along with Nutanix and Red Hat-certified full-stack platform recently held an event under the theme “Modern Infrastructure for Modern Apps”. The event highlighted a comprehensive overview of modern technology solutions that can build a robust IT infrastructure that meets the current needs and prepares companies for future growth.
The Nutanix and Red Hat-certified full-stack platforms bring immense capabilities for businesses to exploit the latest features of cloud computing, storage, and virtualization technologies. This powerful combination allows enterprises to increase their performance and agility in running their applications.
The event throws light on the upcoming applications that organizations must adopt in order to have a modernized approach to their technology stack. This also brings the need to simplify complex systems and processes, while offering a secure and reliable network base.
Moreover, the two companies along with Team Computers have partnered to provide companies with cloud-native solutions that prioritize simplicity, scalability, flexibility, and reliability. This combination ensures customers can easily transition from one platform to another while also maintaining a high level of data security through the latest technology.
Given the energy with which Team Computers bridges the gap between IT solutions and your business needs, the event offered an opportunity to explore a wide range of IT solutions from Nutanix and Red Hat, bringing together 60-plus IT leaders under one roof.
May 27, 2023 | Tech
Infogain, a Silicon Valley-headquartered leader in human-centered digital platform and software engineering services, today announced the availability of three AI-powered business solutions on the Azure Marketplace, an online store providing applications and services for use on Azure. NAVIK customers can now take advantage of the productive and trusted Azure cloud platform, with streamlined deployment and management.
NAVIK is an AI platform that addresses the breadth of AI solution needs, including data infrastructure, data engineering, and data analytics requirements. NAVIK’s modular components include data integration repositories and pipeline scripts, a library of highly trained algorithms built on state-of-the-art machine learning models, and pre-built UI components. Using NAVIK, Infogain can rapidly design, develop and deploy AI-powered solutions to meet the unique needs of its clients.
ASK NAVIK powered by OpenAI on Azure delivers all the capabilities and promise of a state-of-the-art generative AI solution, but in a package that will work safely and effectively inside a business organization. Each ASK NAVIK implementation is designed to meet the needs of a particular business use case. Models are trained on the client’s business data, wherever it may reside. ASK NAVIK combines OpenAI’s large language models and Azure’s enterprise and supercomputing capabilities into a client’s data estate.
Infogain NAVIK Sales AI platform generates sales efficiency and uncovers new monetization strategies. Infogain helped a Fortune 100 beverage company make smarter assortment recommendations by creating an AI-driven solution that combines deep neural nets, collaborative filtering, and ensemble models. Field sales teams use the tool to improve effectiveness and drive business growth.
Infogain NAVIK Marketing AI platform is a powerful B2C campaign automation and hyper-personalization tool focusing on customer-directed customization through AI integration. Infogain designed and built a holistic analytics solution for a multi-billion-dollar wireless network operator. It combines customer profitability goals with Customer Lifetime Value model results and feeds the output into an optimization algorithm, generating campaign lists with targeted offers for each micro-segment.
Anil Kaul, Chief AI Officer at Infogain, said, “We designed NAVIK to put the power of advanced AI solutions including machine learning models directly into the hands of business users, suppressing human bias and enabling better decision making. Azure’s scale, native machine learning operations, and enterprise security capabilities will help us rapidly accelerate this vision.”
Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp. said, “We’re pleased to welcome three NAVIK AI solutions from Infogain to the Microsoft Azure Marketplace, which gives our partners great exposure to cloud customers around the globe. Azure Marketplace offers world-class quality experiences from global trusted partners with solutions tested to work seamlessly with Azure.”
The Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. The Azure Marketplace helps connect companies seeking innovative, cloud-based solutions with partners who have developed solutions that are ready to use.
May 27, 2023 | Tech
Sophos, a global leader in innovating and delivering cybersecurity as a service, today released its annual “State of Ransomware 2023” report, which found that the rate of ransomware attacks has increased in India with 73% of organizations surveyed reporting they were a victim of ransomware up from 57% the previous year. In 77% of ransomware attacks against surveyed organizations, adversaries succeeded in encrypting data with 44% paying the ransom to get their data back – a considerable drop from last year’s rate of 78%.
On a global scale, the survey also shows that when organizations paid a ransom to get their data decrypted, they ended up additionally doubling their recovery costs (US$750,000 in recovery costs versus US$375,000 for organizations that used backups to get data back). Moreover, paying the ransom usually meant longer recovery times, with 45% of those organizations that used backups recovering within a week, compared to 39% of those that paid the ransom.
“Although dipping slightly from the previous year, the rate of encryption remains high at 77 per cent, which is certainly concerning. Ransomware crews have been refining their methodologies of attack and accelerating their attacks to reduce the time for defenders to disrupt their schemes,” said Chester Wisniewski, field CTO, Sophos.
“Incident costs rise significantly when ransoms are paid. Most victims will not be able to recover all their files by simply buying the encryption keys; they must rebuild and recover from backups as well. Paying ransoms not only enriches criminals, but it also slows incident response and adds cost to an already devastatingly expensive situation,” said Wisniewski.
When analyzing the root cause of ransomware attacks, the most common was an exploited vulnerability (involved in 35% of cases), followed by compromised credentials (involved in 33% of cases). This is in line with recent, in-the-field incident response findings from Sophos’ 2023 Active Adversary Report for Business Leaders.
Additional key global findings from the report include:
· In 30% of cases where data was encrypted, data was also stolen, suggesting this “double dip” method (data encryption and data exfiltration) is becoming commonplace
· The education sector reported the highest level of ransomware attacks, with 79% of higher education organizations surveyed and 80% of lower education organizations surveyed reporting that they were victims of ransomware
· Overall, 46% of organizations surveyed that had their data encrypted paid the ransom. However, larger organizations were far more likely to pay. In fact, more than half of businesses with revenue of $500 million or more paid the ransom, with the highest rate reported by those with revenue over $5 billion. This could partially be due to the fact that larger companies are more likely to have a standalone cyber insurance policy that covers ransom payments
“With almost three quarters of Indian organizations reporting that they have been victimized by ransomware criminals, a lot of work needs to be done. The key to lowering this number is to work to aggressively lower both time to detect and time to respond. Human-led threat hunting is very effective at stopping these criminals in their tracks, but alerts must be investigated, and criminals evicted from systems in hours and days, not weeks and months. Experienced analysts can recognize the patterns of an active intrusion in minutes and spring into action. This is likely the difference between the quarter who stay safe and the three quarters who do not. Organizations must be on alert 24×7 to mount an effective defense these days,” said Wisniewski.
Sophos recommends the following best practices to help defend against ransomware and other cyberattacks:
· Strengthen defensive shields with:
o Security tools that defend against the most common attack vectors, including endpoint protection with strong anti-exploit capabilities to prevent exploitation of vulnerabilities, and Zero Trust Network Access (ZTNA) to thwart the abuse of compromised credentials
o Adaptive technologies that respond automatically to attacks, disrupting adversaries and buying defenders time to respond
o 24/7 threat detection, investigation and response, whether delivered in-house or by a specialist Managed Detection and Response (MDR) provider
· Optimize attack preparation, including making regular backups, practicing recovering data from backups and maintaining an up-to-date incident response plan
· Maintain good security hygiene, including timely patching and regularly reviewing security tool configurations.
Data for the State of Ransomware 2023 report comes from a vendor-agnostic survey of 3,000 cybersecurity/IT leaders conducted between January and March 2023. Respondents were based in 14 countries across the Americas, EMEA and Asia Pacific and Japan. Organizations surveyed had between 100 and 5,000 employees, and revenue ranged from less than $10 million to more than $5 billion.
Read the State of Ransomware 2023 report for global findings and data by sector.
