Big data has changed the marketing profession in extraordinary ways. Global companies spent over $3.2 billion on marketing analytics software last year. This figure is expected to grow in the future.
There are many different ways that marketers can leverage data analytics to create successful marketing strategies. One of the biggest benefits is in the realm of email marketing.
Data-driven email marketing strategies have very high ROIs. However, it is important to leverage the right technology and take advantage of the best strategies.
Many data-driven marketers are taking advantage of Microsoft Outlook. They recognize that they can get a greater benefit from this email provider if they know how to work with the right data files. Some details on these processes are listed below.
Data-Driven Organizations Must Work with Data Files to Take Advantage of Outlook
Outlook has two types of data files (PST and OST) to store the data from the email servers. The PST file is mostly used to store data such as email or past account, personal archives and legacy protocols of messaging. If you are configuring an Exchange Server account with MAPI or Office 365 account on your Outlook and want to view the data which is locally cached without connecting to the Exchange Server on-premise or Online, Outlook will store such information in OST file format.
What’s the difference between PST and OST?
PST file is used by legacy messaging protocols – POP, IMAP, or older mail servers. In Outlook 2013 and earlier versions, IMAP accounts also used .pst file. In Outlook 2016 and Outlook for Microsoft 365, IMAP accounts use .ost file. The PST file is used for personal archives or to backup emails which can be easily exported. The personal archives are commonly mistaken with the Exchange Archive mailbox. The Exchange Server Archive mailbox is stored on the server itself. If the computer loses the files or gets formatted, the archive is re-synced. For such things, the Outlooks Data File (.pst) is used.
When setting up an Outlook account from local Exchange Server or Exchange Online (Office 365), an Outlook Data File (.ost) is created on your computer. This file is a copy of the actual mailbox which resides on the server. There is no need to back up the file. If something happens and the computer is reset, nothing is lost.
Outlook PST File and its Uses
PST file, i.e. Personal Folders file, is a format which is used by Outlook to store data. The file is fully portable and can be copied to another computer and opened in Outlook with no issues. PST file is commonly used with older email messaging protocols, like POP and IMAP.
POP is the internet protocol, which is used for email transfer, where the data is kept on the server until the computer or device synchronizes with the server. Once this is done, the emails downloaded on the client will be purged on the server. If something happens to the device, the data will be lost. Also, if you have multiple devices with the same account, emails would be downloaded only on one device.
This is somehow resolved with IMAP where there is synchronization between the server and the device. The emails are kept in a local PST file with only headers until it is opened and then it will be downloaded to the local server. This is not very secure as it uses PST which can be easily ported to another computer.
A PST file cannot be larger than 5 GB as large files are prone to complications and corruption. Also, opening and accessing PST files from a network share or sharing via OneDrive is highly discouraged as this may corrupt the files.
Here is how to create a new PST file:
Open Outlook and click on File.Click on the dropdown on the New Email.Click on More Items.Click on Outlook Data File.
To open an existing PST file, click on File, Open & Export, and then on Open Outlook Data File.
Once opened or created, the PST file will be shown in the left pane.
To move or copy emails to a PST or number of PST files, you can simply drag and drop the items/files.
Outlook OST File and its Uses
Outlook Data File (.OST) is automatically created when setting up an account with the local Exchange Server or Exchange Online. The OST file is a local cache of the mailbox data on the server. If you receive, send, or delete an email, this is synchronized between all the connected devices.
The OST file also acts as a buffer between the actual mailbox and the device. First an email is saved locally on the OST file and then it’s synchronized to the server once the connection is up. You can create calendar entries, tasks, contacts, and send emails while offline. When online, these will synchronize to the server.
To view the location of the OST file, go to File > Info > Account Settings > AccountSettings.
Then, click on the Data Files tab.
An OST file cannot be moved to another machine or opened from another computer and application. If there is an issue with the account or machine, you will need to re-setup the account. But any changes done while offline will be lost. Once the OST has been set, if the mail profile is re-done, you cannot reuse the OST file to recover the data. If something happens to the Exchange Server and the data is lost, you will not be able to recover any data from the local OST file in case Outlook is not opening.
In order to recover data from the OST file, you need OST to PST converter application. Stellar Converter for OST is one such application that can easily open an OST file from any version of Outlook and convert it to PST file. You will be able to view the whole hierarchy of the file. You can also export the OST data to other file formats. In addition, you can easily export OST data directly to Office 365 and any live database of Exchange Server.
Data Driven Companies Must Take Advantage of Outlook the Right Way
There are a number of reasons data-driven companies are using email marketing. Some of the best features are available in Microsoft Outlook. However, marketers need to know how to work with data files properly. Fortunately, the guidelines listed above can help.
Last year, HubSpot published an article on the benefits of using AI for call center management. More businesses are taking advantage of this opportunity.
Automated outbound calls can save you a lot of time and money as an organization, by automating the frequently repeated calling processes. For instance, having your phone system automatically ask a user for their basic information can be much more efficient than having your agents do the same. And that’s especially when you have hundreds or thousands of users to get data from. This is why a growing number of businesses are leveraging AI technology to automate their outbound calls.
Though automated outbound calling holds a lot of benefits like low time expenditure and low costs, is it really effective? Are there more valuable ways to use AI to grow your business that offer a higher ROI? These are some lessons that we learn today in this guide. For instance, we’ll dive deep into what automated outbound calls are, how AI helps them work, as well as their top benefits and drawbacks. With that said, let’s dive in.
What Are Automated Outbound Calls?
The calls your phone system program makes to get certain information from a user are termed automated outbound calls. These calls are mostly pre-recorded and the program only runs the right recording at the right time. This helps save the calling agents from repeating themselves over and over.
This is one of the ways that companies can use AI to save money. AI helps them use their human resources more efficiently, which increases productivity at the same expense.
An example of automated outbound calls is when a provider lets you know the package you ordered has been shipped through a pre-recorded message. Similarly, when a company walks you through its setup process through a pre-recorded call, it’s using the automated outbound call feature that is managed through an AI interface.
How Do Automated Outbound Calls Work?
The automated outbound calls are directed by an AI program that automatically dials a list of given phone numbers as instructed and runs the given pre-recorded message. The AI takes a variety of variables into account before processing the call.
This way, automated calling allows businesses to deliver a certain message to as many users as they want, within the click of a button. Imagine sending a product update of a brand to thousands of customers manually. Automated calling can save several hours of your employees’ time and do the same with much less hassle.
Benefits of Using AI to Handle Automated Calling
Here are the main advantages of using AI to handle automated outbound calls.
Increased Productivity
Automated calling can take the productivity of your support staff to the next level, by letting them avoid repeating themselves over and over. Instead, this feature lets them focus on solving problems that require human support, like guiding a user through a complicated procedure. This way, your calling department will be able to handle lots of users efficiently, without requiring a lot of staff. This is one of the many ways that AI increases productivity.
Low Call Center Costs
Having an automated outbound calling feature for your company can bring your call center costs down to nothing. It’s because it only takes a pre-recorded message and an AI application to make automated outbound calls. Instead of paying a lot of callers for running a phone advertising campaign, you can set up automated outbound calls and have a program do the same.
The automated outbound calling feature is widely used for marketing purposes. If you’re a business, calling your potential customers and introducing them to your services or products can be effective. Similarly, phone calls can also help you introduce a new service or product you just launched or an upcoming event to your existing customers. Either way, automated outbound calls can help you market your business a lot more effectively.
Drawbacks of Using AI to Manage Automated Calling
AI has its limitations like anything else. Below are the main cons of automated outbound calls:
May Irritate Customers
Humans love talking to humans, and not to pre-programmed machines – especially when they need some serious help. This is one way automated outbound calls can irritate your customers. When a customer picks up an automated call, they may find it annoying to not get the chance to ask a question or two, as in a regular call.
Low Conversion Rate
Another key disadvantage of automated calls is their low conversion rate. First and foremost, automated calls and robocalls often end up blocked by the user’s phone system. It’s because many users use phone systems that block callers who don’t dial a given digit, to validate if it’s a human being on the other end.
Apart from that, automated calls won’t give you the choice to target the unique pain points of each customer, which helps tremendously improve your conversion rate.
May Affect Overall Brand Image
Though automated calls are cost-effective and efficient, their user experience is nothing close to a professional humanoid call. For instance, the users will get the chance to interact and ask questions from a support agent but they can’t do the same when they receive an automated call. So, solely relying on automated calls can damage your brand image in the long run.
AI Technology Helps Companies Boost Productivity by Automating Outbound Calls
AI technology has provided a number of opportunities for companies to boost productivity. One of the benefits is by making outbound calls possible. This guide thoroughly explains what automated outbound calls are and how they work. We also looked into the top advantages and disadvantages of automated calls to help you determine if they’re a good option for your business.
To conclude, automated calls are definitely a productive feature but they shouldn’t come in the way of providing your customers with a good calling experience. Until next time, cheers!
Did you know that around 2.5 quintillion bytes of data are generated each day? Businesses are having a difficult time managing this growing array of data, so they need new data management tools.
Data management is a growing field, and it’s essential for any business to have a data management solution in place. A data management solution helps your business run more efficiently by making sure that your data is reliable and secure. You can use information management software to improve your decision-making process and ensure that you’re compliant with the law.
A data management solution can help you make better business decisions by giving you access to the right information at the right time. Data engineering services can analyze large amounts of data and identify trends that would otherwise be missed. If you’re looking for ways to increase your profits and improve customer satisfaction, then you should consider investing in a data management solution.
In this blog post, we’ll explore some of the advantages of using a big data management solution for your business:
Big data can improve your business decision-making.
Big data is a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools. Big data solutions are used to analyze the massive amounts of unstructured information collected from various sources, such as sensors, devices, and social media networks. This type of analysis helps you make better business decisions based on trends and patterns.
For example, if you want to know what products customers prefer when shopping at your store, you can use big data analytics software to track customer purchases. You can then optimize product placement on the shelves or product placement in advertisements based on customer preference.
Big data analytics can also help you identify trends in your industry and predict future sales. For example, if you’re a retailer and you notice that your competitor is selling more products than usual on a particular day, then you may want to increase your inventory so that you don’t miss out on any potential sales.
Big data management increases the reliability of your data.
Big data management has many benefits. One of the most important is that it helps to increase the reliability of your data. Data quality issues can arise from a variety of sources, including:
Duplicate recordsMissing recordsIncorrect data
The proper use of data management solutions can help you identify these problems and correct them quickly and easily. This reduces the risk that inaccurate information will be used in your organization’s decision-making, which could result in poor business outcomes.
Big data management solutions can also help you to ensure that your data is secure. This is especially important in the modern business environment, where cybercriminals are constantly seeking new ways to steal personal information. The right data management solution can help you to secure your data, preventing it from falling into the wrong hands. This not only helps to ensure that your customers’ personal information is safe but also protects your own organization’s sensitive information.
Data management helps you comply with the law.
Data management helps you comply with the law, including government regulations, industry regulations, and compliance standards. For example, if you have employees working in multiple countries or locations, data management would help ensure that everyone is provided equal access to the same benefits and compensation packages. In addition to meeting internal requirements for managing your company’s information responsibly, it can also help improve customer service by reducing confusion over pricing and other policies.
Data management also helps your business comply with laws that protect consumer and employee rights. For example, the Health Insurance Portability and Accountability Act (HIPAA) requires that all healthcare providers protect patient information by using security measures to prevent unauthorized access.
Information management mitigates the risk of errors.
Errors can be costly and time-consuming, so the more you reduce the risk of errors, the better. Data quality is important to achieving this goal. Big data management solutions help you to achieve accurate and timely responses to issues that may arise due to data errors.
When it comes to managing your business’ information, you need an automated solution that provides actionable insights into where your data resides and how it’s being used. This will allow you to determine which assets are most critical for operations so that you can focus on those assets when making decisions about investments in new technology or resources like human capital.
The most important element in ensuring data quality is knowing what you want your data to do. Be clear about what you’re trying to accomplish and how the data will be used before you start collecting it. This will help ensure that your efforts are not wasted on irrelevant information or flawed definitions of terms.
A big data management solution helps your business run more efficiently.
Big data management solutions help you make better decisions.
When you know what data is available and how to find it, you can make more informed decisions about your business. You can also save time by having access to the right data at the right time, which means that you won’t have to spend hours digging through a pile of Excel sheets looking for useful information. Instead, all of your critical information will be in one place so that accessing it is quick and easy—even if someone else needs access as well!
A big data management solution also helps find the right people who can work with your company’s specific needs based on their skill sets as well as their personality traits (like whether or not they’re collaborative). In addition, these solutions can help identify appropriate tools for accessing data, such as cloud storage platforms or relational database management systems (DBMSs). And finally, they’ll help identify vendors who offer services like big data analysis or predictive analytics modeling so that those resources are accessible when needed most.
Conclusion
We hope this article has helped you understand the benefits of big data management. We believe that a data management solution can help your business run more efficiently, which means you will have a better chance of success.
While there are many factors to consider when making this decision, we hope that our list of advantages provides some direction as you consider what’s best for your company.
Given the growing importance of big data and the rising reliance of businesses on big data analytics to carry out their day-to-day operations, it is safe to say that big data has irrevocably altered the online world for anyone running a digital enterprise or an e-business.
Big data’s invaluable insights are an essential factor in the success of enterprises. Predicting seasonal bestsellers and providing a foundation for improving the brand-consumer relationship are just two areas of business management made easier by the insights revealed by big data.
However, most business owners and security experts tend to ignore the ‘dark’ side of big data, despite the fact that many have integrated the insights generated by big data into the core of their operations and are harnessing its power to set themselves apart from competitors.
While “the dark side” of anything certainly has a sinister ring to it, the many risks and dangers linked with big data are often overlooked and treated as minor issues. The concerns related to big data surge to the top of the ‘security and privacy concerns’ hierarchy as the power wielded by these big-data insights continues to expand rapidly.
To help our readers understand the gravity of the many security risks associated with big data-generated insights, we’ve created an article that focuses on the most pressing privacy worries and offers strategies for addressing them.
1. Breaches That Result in Obstruction of Privacy
Many people worry about the state of their privacy, especially their online privacy, in today’s rapidly evolving digital ecosystem, where phenomena like the “filter bubble” and “tailored marketing” are on the rise. There seems to be a constant decline in online privacy.
Considering the current state of cybersecurity, our future may very well resemble something out of an Orwellian nightmare. When we consider the privacy breaches made possible by big data insights and analytics, the gravity of the situation becomes even clearer.
Security-focused businesses are many times ahead of the curve, therefore we should draw our cues from them. NordVPN, a supplier of VPNs, has a solid reputation in Canada, mostly due to the company’s commitment to keeping user information secure.
Contrary to popular belief that a VPN only helps with unblocking websites or changing your Netflix region to access a more diverse library of movies/TV shows, these tools help boost consumer anonymity and privacy by encrypting all traffic.
Realizing the relevance of privacy and the value that sensitive information carries, it is essential to the survival of a company that they establish measures that prevent the disruption of customer privacy because of the value that sensitive information holds.
2. Anonymity is Difficult to Acquire – It’s a Fugazi
The ability to remain anonymous online is still regarded as a superpower, used by people like undercover journalists and those who live in countries with tight restrictions on free speech, despite coming under intense scrutiny in recent years.
Big data analytics makes it hard for any firm to keep any data files completely anonymous. Due to the heterogeneous nature of the raw data sets upon which big data insights are built, there is a substantial risk that consumers’ identifying characteristics will be made public, destroying any remaining privacy they may have.
Even though data is intended to be fully “anonymized,” it is common practise for many security personnel to combine valuable files in order to quickly spot an user. Since almost every small or medium-sized internet business uses finance, invoicing, and accounting software hosted by third parties in the cloud — and since these providers often have different policies on user data — anonymization becomes even more difficult.
3. Failure of Data Masking in a Big Data Environment
Most businesses today employ a process called “Data masking” to shield sensitive information from prying eyes on the Internet. Data masking, also known as data obfuscation, is the practise of concealing sensitive information by means of a false front of seemingly innocuous text or numbers. Data masking is typically used to hide sensitive data from prying eyes.
Data masking could completely fail if not used correctly, jeopardizing the security and, consequently, anonymity of many people engaged in big data analytics. Companies often overlook the hazards associated with big data, which magnifies the threats to users’ privacy.
To solve the problem of how to make data masking work with big data, businesses must implement a strict policy that details the criteria for data masking and ensures that they are followed by all employees.
4. Big Data Insights Result in Discrimination
One would think that as humanity evolves and embraces the arrival of the digital age, racism and other forms of overt prejudice would be left in the dust, but alas, they remain pervasive problems with lasting consequences.
Despite the fact that prejudice occurs in virtually every industry, the incorporation of big data insights and analytics has made it possible for businesses to learn an individual’s race and use that knowledge to their advantage.
For instance, a bank may use predictive analytics to learn a loan applicant is a member of a particular racial group and then reject their application; this practice, known as “automated discrimination,” has gained widespread attention in recent years.
5. All Patents and Copyrights Become Null and Void
Another issue that makes the incorporation of big data into organizations pretty difficult is the fact that in an environment driven by big data, obtaining patents can be an extremely difficult task, and ultimately as a result, it gets completely ignored.
One of the main reasons why it’s so hard to get patents in today’s big data era is because it takes so long to validate the patent’s uniqueness among the accessible database of information, which is why it’s often shrugged off.
Furthermore, in a world where big data reigns supreme, copyrights are mostly irrelevant because of how easily data can be manipulated. Consequently, this leads to the disappearance of any royalties earned from the creation of something original.
Wrapping Up
We can only hope that by the end of the article, the reader understands the gravity of the “Big Data Situation” and the myriad privacy concerns that arise in a data-driven environment. We can only keep our fingers crossed that the aforementioned privacy problems are given the attention they deserve by institutions, and that measures are taken to address them.
OCR is the latest new technology that data-driven companies are leveraging to extract data more effectively. There are a number of benefits of using it to your company’s advantage.
OCR and Other Data Extraction Tools Have Promising ROIs for Brands
Big data is changing the state of modern business. A growing number of companies have leveraged big data to cut costs, improve customer engagement, have better compliance rates and earn solid brand reputations.
Data strategies are becoming more dependent on new technology that is arising. One of the newest ways data-driven companies are collecting data is through the use of OCR.
What is OCR and How do Data-Driven Companies Use it?
Optical Character Recognition, or OCR, is a technology for reading documents and extracting data. OCR software completely changes the way you can process your documents: automated and much more reliable.
Every company deals with a certain number of documents on a daily basis: invoices, receipts, logistics, or HR documents… You have to keep these documents, extract the useful information for your business, and then integrate them manually into your database.
It’s long, redundant, and particularly frustrating. One mistake and everything has to be checked again.
The processing time for each document varies depending on the nature of the document and the information to be extracted. Even so, it takes time and can quickly become an obstacle to the smooth running of your business.
Find out in this article how your company can benefit from the use of OCR. How does it work, and what are the clear benefits? This article reveals all!
Some things to understand about OCR technology
OCR is a well-known technology developed for text recognition in any medium: photographic, handwritten, or digitized. Optical character recognition is able to convert any text present on a medium into computer-readable textual data.
How does OCR work?
OCR technology follows a three-step process, which is detailed below:
Scan the document containing the information you need. To do this, use a device that can support OCR technology. Usually, the camera of your smartphone allows you to scan directly into the OCR application. The latter will detect the document that is submitted to it. Cropped or not, it will remove the background to work only on the document.Once received by the application, the data are extracted from the document, but they are not yet structured at this stage. The software extracts all the information in plain text in a TXT format.In the last step, the extracted data is structured so that it can be used for further processing. Each data point is linked to its reference. You get the structured information in a machine-readable format, such as JSON. You can now save it in your database.
These three steps are performed by OCR in about 3 to 5 seconds observing an ever higher accuracy thanks to machine learning and artificial intelligence than manual extraction.
Using OCR: the benefits for your business
Automated data capture improves your document management and processing. Gain speed and accuracy with OCR technology. Here are just a few of the benefits your company can enjoy by integrating OCR software. Accuracy, efficiency, time savings… A non-exhaustive list that will help you better understand the change that OCR implies!
Improved accuracy and speed
Delegating the management and processing of your documents to an OCR solution is to be sure to process them faster and more accurately. Thanks to the work of machine learning and artificial intelligence, OCR is constantly evolving. The software learns from the documents submitted to it. Automatic data extraction drastically reduces manual input errors.
More efficiency
Because OCR works continuously, you can process a larger volume of documents. You can extract data from documents faster than with manual data entry.
Optimize your time
With OCR and the automation of your document processing, you will be able to process a much larger number of documents more quickly.
The OCR software analyzes your information and extracts it in a few seconds (2 to 5 seconds). Manually, this operation can take several tens of minutes.
OCR in application: driver’s license, identity card… Use cases and explanations.
Discover in pictures several use cases of OCR on different media, so you can see that this software adapts to all activities.
Driver’s license verification for insurance purposes
Let’s say your company is an insurance company. In order to insure their vehicle, motorists must provide their driver’s license in order to issue an insurance certificate. Can you see yourself extracting data from all your customers? Every day, repeating this long, tedious task? No? Good, see how OCR automatically extracts driver’s license information!
Start by submitting the driver’s license to be processed to the OCR software. Send a PDF, a photograph, or a scan via your smartphone to the OCR app.
The OCR application extracts the information automatically in a few seconds. All data of the driving license is extracted but not yet structured. The result is in TXT format for the moment.
For the last step, the parser structures all the data that is extracted. At this stage, the result is provided in JSON format.
Extraction of credit cards data
For online registration of new customers, you may need to extract credit card data, and you as a bank may need to extract credit card information. Secure, fast, and reliable, here is how in just three steps the OCR software extracts the data you need.
To extract the information, start by submitting a document containing the credit card to be processed. By PDF, photograph, or by scanning the blue card via the app using your smartphone camera.
To continue your document analysis, the second step extracts all the data present on the blue card. However, at this stage, they are not structured.
Upon receipt by the OCR application, the image is optimized and converted into a plain text file. At this stage, the text on the card is extracted but not yet structured.
The third and final step structures all the extracted text and delivers it to you in JSON format.
OCR in your company, what if it was now?
Find your OCR solution provider and ask them for their OCR pricing.
No more wasted time, employee frustration, or manual input errors: OCR is the solution you need to better process and manage your documents. Using this technology within your company will allow you to enjoy the benefits we have listed above.
There are a growing number of risks with big data. Some of them stem from security issues if data is compromised. There are also physical safety issues associated with using the hardware that big data depends on.
You must understand how to protect yourself even as you collect as much data as possible. Businesses need to collect information on just about everything to remain competitive in the current environment; however, how you use that data truly makes a difference. Hackers try to circumvent your security measures just as you work hard to protect the data you collect. What do you need to know about protecting yourself in the era of big data, and what should you do if you feel like something has been compromised?
Focus on Strong Password Hygiene
Without a doubt, you need to focus on solid password hygiene. Your password must be secure since it is your first layer of defense, and you must ensure it is as strong as possible. A strong password has a nice mixture of numbers, letters, and symbols. You also need to change your password regularly. That way, if someone has stolen your password without you knowing it, they do not get access to your information forever. You should also encourage your employees to change their passwords from time to time. Do not hesitate to use two-factor authentication to protect your information.
Use the Right Equipment
You also need to make sure you use the right equipment. Even though you are probably thinking about collecting this information annually, there are automation tools that can make the process easier. That way, you don’t have to spend as much time typing. If you spend a lot of time typing on the computer, you may want to invest in a wrist brace that can protect against the development of carpal tunnel syndrome. If you feel forced to type to the point of developing this condition, you must reach out to a doctor. Carpal tunnel syndrome is one of the leading causes of injuries in the tech environment.
Software Updates Should Not Be Neglected
Even though it can be annoying to have to deal with software updates from time to time, there is a reason why they have been released. There is a chance that there could be an essential security patch that covers up a vulnerability. You need to make sure you install software updates as quickly as possible. Otherwise, you could be vulnerable to an attack. You may want to set your computers to update in the middle of the night automatically. That way, you don’t have to worry about disrupting your daily operations to install a software update.
Think About the Dangers of Shadow IT
Shadow IT is one of the most significant risks in the current business environment. There are a lot of people who spend time working from home. Even though this flexibility might be nice, it can also leave your company vulnerable. Home internet connections do not necessarily have the same level of security as your company’s network. If you allow people to use their personal devices, you must make sure you have the right security protocols installed. For example, you should encourage them to use a VPN. A VPN can make it much more difficult for someone to hack the device and steal information. You might also want to install your security protocols on their devices. This will make it easier for you to protect your confidential information while still allowing your employees to work from home.
Ensure You Protect Yourself Accordingly With These Tips
In the era of big data, cybersecurity has never been more important than it is. You must protect yourself by following these tips, and do not hesitate to reach out to an expert who can help you. As the cybersecurity landscape changes, you must stay one step ahead of hackers and cybercriminals. By investing in the correct security protocols, using the right equipment, and training your employees appropriately, you can reduce your chances of dealing with a security breach down the road. Don’t forget to protect yourself against physical injuries as well.
Bloomberg published a press release in June showing that this is the best time ever to create an AI startup. The market for AI is growing over 39% a year through 2028. AI companies stand to benefit from this booming industry.
However, it is imperative to do your due diligence. The stakes are higher as the market grows and it is important to have a solid product.
Are you developing new AI technology to better meet the needs of your customers? You are going to want to create the highest quality AI software application possible.
Customers have higher standards than ever when it comes to AI software. They expect applications to use the most sophisticated machine learning algorithms to better serve their users. They want to work with companies that can use AI to solve real challenges, rather than merely offer interesting features.
Hiring a software development company to create AI software is not an easy task. There are many companies that claim to be the best in the business, but very few can actually deliver on their promises.
This article will cover some important factors you need to consider when hiring a software development company for your AI startup.
Determine a Budget
AI applications usually cost more to develop than you expect. You need to make sure your startup has sufficient funds to cover the costs.
The first step of the process is to determine your budget. This can be difficult because so many factors go into setting a price, but it’s important to know what you have available and make sure you have enough money in the bank for this project before moving forward.
Some things that will affect your budget:
Scope of work – The more features and functionality you want for your AI application, the higher your costs will be. Additionally, those costs might increase even more dramatically if it’s an urgent project with little time for research or planning upfront.Timeline – If you need something done quickly, expect to pay more than if it were done within two months. Save yourself some money by keeping communication open between parties throughout the development process.
Identify Your Goals
Defining the goals of your AI software is essential to hiring a reliable development company. You need to know how much you can afford, how long you’re willing to wait for a solution, and what kind of software you want.
Armed with this information, you’ll be able to identify potential software development companies that fit your needs and budget.
What type of development are you looking for?
Now that you know what to look for in a developer, it’s time to decide what type of software development you need. Here are some examples:
Web Development – web developers create websites and applications that are accessed onlineMobile Development – mobile developers create apps and games that run on smartphones and tabletsGame Development – game designers design computer games, video games, or any other interactive game played on a screenApplication Development – application developers develop custom software applications for businesses or individuals.
Assess The Company’s Experience and Portfolio
If you’re hiring a software development company, it’s important to know what they have done in the past. The best way to do this is by looking at their portfolio. Look through the client list of potential companies and see if there are any that you recognize.
If so, ask yourself if those companies are similar to yours in size or industry. If so, it may be an indication that this particular software development firm has experience working with businesses like yours.
A second consideration is how long a company has been in business and what kind of reputation it has within its community. Reputation is important because it shows that other people trust them with their money and time—and now your company wants them handling theirs too.
Hiring the Best Software Company is Essential for AI Startups
Are you planning on creating an AI software application? You don’t want to go through the process blind. You want to work with the best software developers to guide you through the process. The best thing to remember when looking for a software development company is that you should be as specific as possible. This will help you narrow down your search, so you can find the perfect company for your needs.
There are countless benefits of investing in AI as a manufacturer. However, this is also going to lead to some major changes that might be a bane for many workers.
The good news is that there are still ways for workers to thrive in this field. However, they need to know what skills they need to possess as AI technology dominates the industry.
What Skills Will Manufacturers Need as AI Becomes More Prominent
Manufacturing is far from dead. All of the speculation that AI would kill the industry has proven to be untrue. In fact, there are the same number of Americans working in manufacturing in 2019 as there were in the industrial heyday of the late ’40s.
However, the industry is changing faster now than in perhaps any time period since the Industrial Revolution. As manufacturing becomes increasingly affected by advances in AI and other forms of high technology, it’s clear that tomorrow’s manufacturing worker will need to come ready to work with a new toolbox.
When we picture the ideal manufacturing worker of 2030 and beyond, what skills will they need as the industry is shaped by AI? How should our educational institutions prepare tomorrow’s manufacturing labor force to become empowered and productive employees? There’s no telling what the future holds—but these six skill sets will be invaluable no matter what comes down the pipeline.
1. Critical Thinking
With so many jobs headed for automation as manufacturers invest more in AI, it’s important to focus on acquiring skills that are difficult to automate. Near the top of that list is the ability to use critical thinking to grasp and solve complex problems. AI technology can accomplish many things, but it still can’t think like a real human. That includes skills like seeing the big picture in data, evaluating the pros and cons of an option and identifying and mitigating one’s own weaknesses through collaboration.
The skilled jobs of the new economy require critical thinking on an almost constant basis. It’s such a foundational skill that once a person grasps the basic concepts of critical thinking (such as evaluating an argument, making a judgment based on known facts and coordinating multiple systems to solve a problem), they understand the basis of almost any 21st century business practice. Moreover, it’s an important skill that helps guide an individual’s choices in their career.
2. Essential Computer Skills
The ability to organize an email inbox or make a basic Excel sheet will be expected of nearly every worker in the new economy, and not just in white-collar office jobs. Computers are now among the most essential tools of doing any kind of business, so basic computer skills will be expected just to get in the door, even if the factory floor is where you’re interested in going.
With manufacturing workplaces increasingly relying on apps, ERP systems and other AI applications to streamline their operations, manufacturing positions will no longer be immune from the requirement of computer skills. The 21st century manufacturing job will be less like the ultra-repetitive assembly line work of the 20th century and more focused on continually learning to use new tools to take command of one’s own productivity. In that environment, tools like Dropbox, Outlook and Excel could be the new hammer, wrenches and screwdrivers.
3. Programming and Automation
The new manufacturing jobs created in the 21st century are often the ones that involve programming or manipulating automated systems, and that means that the new manufacturing worker is something closer to a manager who supervises processes rather than individuals. To compete, the 21st century worker needs to be able to create and manage shop floor-level implementations of automation and AI.
Different kinds of programming and technology skills are needed for different fields. Machinists, for example, must be highly skilled at using technologies such as custom CNC machining that rely on automation. Supervisors on automated vehicle manufacturing lines, meanwhile, must sometimes learn hardware skills up to and including opening an electronics enclosure to fix a programmable logic controller. It’s clear that learning a wide range of skills related to automation and AI will serve workers well in the increasingly automated manufacturing environment.
4. Technological Adaptability
Technology and automation have already drastically changed just about every corner of the manufacturing sector, and none will be able to escape forever. That means that a well-rounded 21st century manufacturing employee will be able to roll with the punches and embrace new technologies–even as those technologies create big disruptions. This includes using AI to use augmented reality in manufacturing.
For example, additive manufacturing and 3D printing have recently taken the manufacturing world by storm. Other technologies, such as blockchain, could well revolutionize the supply chains and the record-keeping systems that keep manufacturing operations running. Workers who are able to quickly master and implement these technologies have a distinct advantage over those who are slower to embrace them.
5. Empathy and Communication Skills
Skills in interpersonal communication and understanding are commonly called “soft skills,” but that phrase doesn’t accurately communicate just how important these skills are. People skills enable employees to work together, overcome differences and create strong working relationships. And despite the increased power and productivity that new technologies offer, smooth collaboration is still the secret that creates great businesses where people want to work.
Empathy is the key to developing workplace communication skills, and it’s particularly important for management. The ability to put yourself in another person’s shoes means understanding their responsibilities, how they interlock with your own and how you can work together more effectively—whether you get along personally or not. Thus, by combining empathy with critical thinking, employees at all levels can better understand the roles that they and their co-workers play and work harder to ensure that all the pieces fit together smoothly.
6. Leadership and Decision Making
In today’s manufacturing environment, the average worker has more powerful tools to work with than ever. That means that leadership must come from all levels, not just management. Every worker must be more responsible, exercise better judgment and be more able to stand as a leader to their coworkers. The seamless collaboration required to be a competitive 21st century manufacturer means that there’s very little room for “not my job,” and responsible use of powerful new tools makes accountability and transparency at every level mission critical.
Twenty years from now, it’s a safe bet that manufacturing will look very little like it does today. That means recognizing that human capital is still the most valuable kind and that investing in the skills and development of employees will help create the long-term stability that every business wants in a changing economy.
AI Technology is Changing the State of the Manufacturing Sector and Workers Must Adapt
AI technology offers many promising benefits for the manufacturing sector. Manufacturers invest in solutions like robotic polishing to make the most of AI. Workers will need to adapt as AI becomes more of a gamechanger in the years to come.
The products around us are growing more complex every year. Mechanical designs are increasingly intricate, software development is ever more powerful, not to mention more and more physical products are being incorporated into the internet of things or contain distinct software. As a result, manufacturers need to be more agile than ever, and most struggle to keep up.
Cloud technology is among the biggest changes. The market for cloud services is worth over $400 billion and growing.
While linear development processes have served manufacturers well for decades, future products require multidimensional planning. Now is the time for companies deploying limited tools to consider switching to cloud-based data storage and powerful product planning tools.
The Limitations of Linear Manufacturing Processes
Data silos have become one of the biggest restraints with using linear manufacturing processes. Even when a manufacturer adopts advanced process solutions, the legacy data collection problem remains in isolated channels. For example, if your company collects data from your new equipment while collecting data from other vendors separately, you may end up with incompatible file formats. How will you analyze your data to get a comprehensive picture of your products if you cannot combine your stats?
Problems with compatibility can also occur across internal departments. Your marketing, product, and design departments may be using the latest tools, but if their data is not compatible or integrated into the same destination, it can cause delays. You may have trouble organizing all your reports, and you may miss crucial information altogether.
Agility Is Important at Every Stage of Manufacturing
Agility is an essential quality at every stage of manufacturing. When your company is better equipped to make efficient, informed decisions, you’ll be better able to deliver competitive products to your markets in shorter time spans.
Agility Begins In the Cloud
When implemented correctly, the cloud enables organizations to eliminate data silos and create one source of truth for the entire organization, regardless of where your teams are located. The cloud also enables you to apply powerful analytics over your data to prevent anyone in your organization from having to interpret raw data. Rather than spending precious hours pouring over the figures, your teams can use the cloud to deliver the best interpretations of the stats automatically.
The Cloud Saves You Time
Using the cloud helps your teams communicate and collaborate more efficiently. Imagine your design team creates a 3D rendering of a prototype, then sends it to the cloud, where your factory in another time zone gets an automatic notice to download the file. They can then create a 3D physical version to analyze, test, and send immediate feedback to the design team while preparing their production line for the new product. Simultaneously, your marketing team can examine the design and build a campaign story around it.
The Cloud Increases Functionality
Product planning teams that use the cloud have much more flexibility in managing their teams than those still using a suite of rigid tools with separate functions. Instead, product planning teams can use the cloud to communicate, collaborate, analyze, and make decisions in one centralized location. Product management becomes agile, flexible, and functional with the right software platform.
Reliable and Trusted Security
The idea that the cloud lacks reliable security is completely outdated. Most cloud service providers deliver superior network security and safe infrastructure to resist cyber attacks and include disaster recovery contingency plans. Most manufacturers do not maintain nearly the same level of security for their on-site servers and systems as cloud service providers do. It’s fairly common knowledge nowadays that moving to the cloud will actually enhance your network and infrastructure security rather than decrease it.
When manufacturers embrace the possibilities using the cloud delivers, their systems and processes become far more efficient and flexible than before. Designs can evolve simultaneously, rather than in a linear, stunted function, making the manufacturing process much better equipped to handle the increasing complexity of products.
Choosing a Cloud platform
The cloud is not pre-equipped to make your manufacturing process more efficient. You’ll want to find the right cloud software that is designed for manufacturing. More and more cloud platforms offer manufacturers streamlined processes, so how do you find the right one for your company? When researching and testing the platform that is right for your company, there are several factors to consider:
Does the platform allow seamless integration of your existing data?Does the platform eliminate your data silos into one accessible source of truth?Can your teams work efficiently and collaboratively on product design?Do they prioritize security to protect your intellectual property?Do they create features that are useful for manufacturing? Do they offer helpful support and guidance when using their platform?
The SaaS solutions that offer the most agility, security, and powerful features use the cloud to power their apps and manage their data. With the possibilities of the cloud, SaaS companies can scale their service based on what each client needs for capacity. The cloud can be a game-changer for manufacturers who find the right software for their needs.
Gocious is an example of a tech start-up using the cloud to deliver specific application functionality. We’ve created Product Roadmap Management software to help manufacturers become more agile with clear data visualizations and unique competitive analysis features.
AI technology has led to some massive changes in recent years. Most of these developments have been good. Unfortunately, there are dark sides to the evolution of AI.
One of the drawbacks of AI has come in the realm of cybersecurity. On the one hand, AI has helped improve cybersecurity in some ways. On the other hand, hackers are weaponizing AI to create more horrifying attacks.
There are a number of ways hackers create more devastating attacks with AI. One of the biggest issues is that they are creating new forms of ransomware with machine learning capabilities.
Hackers Use AI to Create Terrifying Forms of Ransomware
In the world of cybercrime, the leading event is a phishing email, which accounts for the vast majority of security breaches in business. However, even though phishing is significantly more common, 85% of organizations are more worried about ransomware and the impacts a ransomware attack could have on their business going forward.
Much like a phishing event, ransomware is fairly easy to trigger. With phishing, a user will accidentally navigate to a false page, where they could give away information like their user login or password. Similarly, ransomware only takes a few clicks – with a user selecting a file and accidentally downloading an email attachment to their computer.
Hackers have used AI to create more effective phishing attacks. They can use machine learning to better understand the types of links users will click on and what time to send emails to get the most downloads. They can also use AI technology to make their ransomware more vicious. AI can train malware to evade antivirus protection software and bypass other elements of the computer security system.
The main purpose of ransomware is to take all computer systems and files hostage from a business, eliminating their ability to get work done and charging a (normally) fixed fee to recover the systems. Unlike phishing, which doesn’t seem to have a simple exit option, ransomware has a payment wall in place that could alleviate the problem.
AI has certainly made ransomware worse than ever. But that calls into question for a business – should they pay hackers when AI-driven ransomware is detected on their systems? In this article, we’ll explore the ransomware phenomenon, demonstrating why, ultimately, paying is very rarely the right decision to make.
Let’s get right into it.
Why Does Ransomware Powered by AI Frustrate Companies?
Ransomware is designed to completely shut down business operations for as long as possible. Most commonly, hackers will target user accounts that have access to the largest selection of company files. If a hacker gains access to an account that cannot then access any systems, they’ve essentially hit a dead end.
However, if a hacker gains access to an administrator account, they can then cause havoc for the business. From instantly privatizing all files and disabling all systems to downloading private financial data, hackers with administrator accounts can completely stall a business in its tracks.
Especially for businesses that need to actively deal with clients to continue their day-to-day work, disabling these systems and barring access to files means the business can’t make any more money. With high-turnover businesses, even a few hours of system downtime can cause a huge problem, let alone days or weeks at a time.
Without the ability to conduct business, and with costs mounting up without profit, many businesses see paying the ransom as the right thing to do.
Ransomware appears to be even more effective when it uses AI technology. Hackers depend on it to infect their users.
Why You Should Never Pay the Ransom
When your business is dealing with a ransomware event, it can often feel like you’re trapped in a corner. Without your systems and files to fall back on, many businesses don’t know where to go. This feeling of panic usually pushes them into making a rash decision and paying the fees.
In 2021, the average ransom payment for a business was over $800,000 USD, with this being no small sum for the vast majority of businesses. Typically, any business that could easily afford this amount would receive a much higher figure, meaning paying ransomware is always going to eat into profits a considerable amount.
While paying the ransom may seem like the simplest option, there are two main reasons that you should never submit:
No Guarantee – Even after you’ve paid the money, this is not a legal contract that you’re signing. There is no guarantee that once you pay the full figure, the hackers will give your system back. Worse, there is no guarantee that they haven’t hidden further ransomware deep in your systems, which would lead to further complications down the line.Creating a Target – When you pay a ransom to attackers, you’re sending a message to every other cybercriminal in the ecosystem that you’re a company that is willing to pay. Not only does this create a target on your back, but there is nothing to stop the attackers you’re paying from turning around and targeting you again right away.
Quite simply, paying the ransom almost always leads to even more problems, with this being the fastest way of making your business a target for future attacks. While it may seem like the best solution, this is rarely the case.
What Should You Do?
If you’re already in the midst of a ransomware attack, then your first point of contact should be the authorities. Most of the time, authorities are able to navigate the ransomware attack on your behalf and will have tools and structures to help you get through it.
Still, this is far from ideal. The very best way to never have to pay the ransom is to take proper precautions with your business. As frustrating as it may be to realize, this attack was caused by someone in your business clicking on a file that they shouldn’t have. If your business is experiencing a ransomware attack, your first approach should be better prepared for next time.
There are a few things you should actively be encouraging in your business:
Security training – Always provide extensive security training for your employees. As the vast majority of cybersecurity events are triggered by human mistakes, bringing your teams up to speed on the best practices is always a great idea.Email defenses – Make sure your company has effective firewalls and email security software that scans for malware and ransomware.Backups – Backups are the easiest way of beating ransomware attacks for good. All you need to do if faced with ransomware is to revert to a previous backup to solve the problem. Frequent backups will ensure that data loss is as minimal as possible.AI security – AI may be deadly in the hands of hackers. However, it can also be very useful in your hands as a cybersecurity expert. You will want to use AI cybersecurity technology to your advantage.
By focusing on preventative strategies, you’ll be in a much better position if your company ever falls prey to a cybersecurity event. Education, preparation, and foresight are key when it comes to keeping your business safe.
AI Makes Ransomware Worse But You Should Never Pay the Ransom
AI has led to some horrifying developments in the field of cybercrime. Hackers are using AI to create more viciouus forms of ransomware than ever. Instead of paying the ransom, preemptively put some of that money into educating your staff, creating backups of all important files, and investing in preventive measures.
