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COVID-19: What Can Artificial Intelligence Contribute to Healthcare Industry

COVID19 What Can Artificial Intelligence Contribute to Healthcare Industry

 

One can hardly escape the mention of Artificial Intelligence, or AI for short, today. AI is reshaping economies, promising to generate productivity gains, improve efficiency and lower costs. We see AI in the movies, books, news, human vs computer games and online. AI is part of robots, self-driving cars, drones, medical systems, online shopping sites, and all sorts of other technologies that affects our daily life in so many ways. It contributes to better lives and helps people make better predictions and more informed decisions. AI is also altering the professional world and this also affects the IT specialists themselves, as their routine activities, sometimes even programming, are beingcarried out by algorithms.

 

AI technologies are seeing rapid acceptance in multiple sectors, such as, healthcare, criminal justice, transport, agriculture, finance, marketing and advertising, science, security the public sector, as well as in augmented and virtual reality (AR & VR) applications. As AI systems can detect patterns in enormous volumes of data and model complex, interdependent systems to generate outcomes that improve the efficiency of decision making, save costs and enable better resource allocation, it’s gaining greater public awareness during the corona pandemic.

 

A Canadian company’s advanced artificial intelligence system Toronto-based BlueDot, was among the first in the world to notice the coronavirus disease emerging from China, by using AI-driven algorithm to go through more than 100,000 articles every day in 65 languages looking for news about more than 150 different diseases. Around 10 a.m. EST on Dec. 31, their system spotted an article in Chinese about a “pneumonia of unknown cause” with 27 cases.

 

The corona crisis confirmed to be a motor for the further development of artificial intelligence. The idea of creating an artificial machine is as old as the invention of the computer. Alan Turing in the early 1950s proposed the Turing test, designed to assess whether a machine could be defined as intelligent. Learning algorithms have long since found their way into everyday life – in the form of navigation systems, voice assistants or vacuum robots.

 

Today AI technologies are playing a huge role to fight back and limit the damages caused by COVID-19 outbreak by detecting and diagnosing the virus and predicting its evolution. Once the virus is studied in detail, it’s medical research on drugs and treatments can be accelerated. Further than that, AI technologies and tools are playing a key role in detecting and diagnosing the virus and predicting its evolution and understanding it in every aspect to accelerate medical research on drugs and treatments. AI is already being used for a range of healthcare and research purposes, including detection of disease, management of chronic conditions, delivery of health services, and drug discovery. Artificial intelligence has the potential to transform how care is delivered and to help address important health challenges, without the right data it has its limits.

 

When talking about AI, many people still think of process optimization, such as replace many routine processes, repetitive tasks that are tiring for people. However, AI can do much more than that, through machine learning, the generation of knowledge from experience, the algorithms are able to deal with unknown data, find patterns and independently derive actions. Chatbots, for example, which are increasingly used in customer service, are getting better and better over time as a result of supported learning. Deep learning based on neural networks enables predictions based on very complex relationships. In order to recognize and use the full potential of AI, IT users not only need development and implementation services, but also comprehensive advice. Because the use of AI elements is not comparable to the introduction of new software. As consulting skills, knowledge of AI systems and industry knowledge are becoming more important, IT consultants and business analysts need to have a knowledge background in order to familiarize potential users with the possibilities of artificial intelligence.

 

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Opportunities and risks for E-Commerce in Covid19 Crises

Opportunities and risks for ECommerce in Covid19 Crise

 

The Covid19 epidemic and the associated restrictive security measures taken by the Government have various consequences and have an impact on global e-commerce, both in positive and negative way. As due to the corona epidemic, the government advises people to stay indoors as much as possible and non-essential stores are closed. All events, concerts, sports competitions and other activities are also cancelled.

 

During the lockdown, online trading is 100% secure and only way to get goods to the customer. And even if the stores are allowed to open again, many customers still prefer to do as much of their shopping online instead of going to a store and waiting in a never ending queue to get their daily basis use items. In addition, customers who have never or rarely made online purchases are getting familiar with the e-commerce concept as well.

While online sales are increasing sharply in some sectors, they are almost completely falling in others. Especially for companies active in the sale of tickets, tourism and entertainment, transport sector, the event industry is falling drastically, says Sofie Geeroms of sector federation BeCommerce. On the other hand, companies that are active in health care, or sell clothing, food or electronics via the internet and online pharmacies in particular are seeing their turnover increase. “I think we should be grateful that e-commerce is here to meet people’s primary needs,” concludes Geeroms.

 

According to a Coronavirus Survey Report based on 20 answers collected from national e-commerce associations, company members and business partners between 17 and 19 March 2020, 70% of European web shops expect to have less profit this year due to lower sales. In addition, 60% of them experience problems with deliveries. It is clear that the corona crisis is also leaving its mark online.

 

Biggest Problem: Deliveries

Ecommerce Europe survey demonstrated that, for at least 60% of the respondents, one of the main problems is delivery times. For 55% of them delays or interruptions in parcel delivery is the second major issue followed by a drop-in consumer order for 50% of them. They also face problems such as delays in planning the product range due to travel restrictions, increased absence of personnel or lack of transport capacity.

On the bright sight, the web shops indicate that they can still deliver the most packages to their customers. This also applies to cross-border purchases. In 35% of the surveyed web shops there were more online purchases.

 

Another short survey by Gondola shows that several Belgian web-shops see additional sales. Coolblue Belgium confirms “in recent weeks we have seen a sharp increase in sales of products to equip the workplace at home with materials such as screens, laptops and webcams and to keep in touch with each other. According to the survey, they’ve witnessed a growth of 100%.

 

2020 will be the year of e-commerce and anyone who has the opportunity to set up or expand an online shop as a retailer should probably do so. But what should one take in account before expanding their business online. Here are a few important tips & tricks that are important to consider in the online commerce.

 

Think Long Term

Short-term thinking is tempting right now as we want to control damage quickly. However, do not setup your online shop with the mindset of getting benefit from it only during the Corona crises. If you go online, make your webshop a central part of your company and invest effort until you are really satisfied with it and offer your customers a great shopping experience. Customers notice when an online shop is not maintained. This results in damaging your brand image, customer’s trust and lowers your sales. Make the first impressions count.

 

Do Your Homework

What do customers want? What’s going to sell well? Is my product trending or in decline ? How do I define my target market?  What does the competitive landscape look like? What laws and regulations should I be aware of? What are my barriers to entry? How much do i expect to sell ? Which online shop system are we going to opt for? What payment options do we want to offer? Do we want to connect to other portals? For example, on price comparison portals? Do you need a connection to your ERP system? These are some main questions, among thousands of other, that you should go through before going online.

 

Don’t Ignore Technological Trends

Online shops are now quite complex systems that are constantly being enriched with new skills. The reason for this is very simple: competition. There are some interesting technological trends in the area of ​​online trading. Gartner says 100 million consumers will shop in Augmented Reality online and in-store by 2020. Artificial Intelligence will be used, more than ever before, for data analysis and customer experience personalization, make smart product recommendations and automated chatbots that can have simple conversations with customers. Integration of augmented reality (AR) and virtual reality (VR) to help customers visualize their items before purchasing them.

 

Personalise the Customer Experience

Online trading offers incredible opportunities to understand your customers and offer them a customized shopping experience. An example: The navigation of your shop could prominently display the categories that are particularly relevant for your customer; or you can highlight different product benefits for different customer groups. Implementing personalized experiences on-site or in marketing efforts has been shown to have a strong effect on revenue, with one study finding it had a 25% revenue lift. Recent data also shows personalization efforts can reduce bounce rates by 45%.

 

Conclusion

Online shops offer retailers incredible opportunities – and what might have been born a lifeline in the Corona crisis can later become an integral part of your own company with high sales. Time will tell what new trends will 2020 bring in the ecpmmerce industry. But be prepared as there’s a lot of 2020 remaining,

 

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Artificial Intelligence: Just a Trend or A Long-Term Growth Factor?

Artificial Intelligence Just a Trend or A Long-Term Growth Factor

Artificial Intelligence is having an impact on our world in many different ways by playing an increasingly important role in our lives and worldwide economy. The number of companies that have integrated AI in their process is growing rapidly, in sectors like health-care, retail, HR, marketing and cybersecurity industry and the war for talent acquisition and competition for value creation is on the next level between industries and nations.

 

AI is not new or just a temporary trend, history tells us that humans and the companies are remarkably successful at working together with robotics to the latest technologies such as smart machines, including 3D printing, AR and VR in order to survive in competitive era and also find new opportunities for their companies’ growth. A study by MMC Ventures revealed that 60% of the interrogated cases, which represents 1,580 companies, AI is being used in their solutions and 40% of the self-proclaimed “AI companies” in Europe had discovered that AI was not used in their solutions.

 

AI is bringing its advantages in sectors like healthcare, transportation, cyber security industry, security industry, prediction of natural disasters, farming, smart-cities, and is helping to reinforce economy. A discussion paper created by McKinsey demonstrated how AI applications are contributing for social good. According to McKinsey’s analysis, AI initiatives are having a positive impact on good health and well-being, peace, justice and strong institutions, provide quality education, protect all life on land and below water, ending poverty, industrial innovation and infrastructure, reducing inequality, climate action, decent work and economic growth, gender equality, sustainable cities and communities and responsible consumption and production, increase work efficiency and output, offers accurate future predictions, detect frauds, avoid human errors with the help of increased automation and many more.

 

Artificial intelligence is certain ally and dramatically improving the efficiencies of our workplaces and increasing the work humans can do by taking all repetitive or dangerous tasks and the human workforce to do work they are better equipped for, such as, tasks that involve creativity and empathy among others. By doing work that is more engaging to them, job satisfactions, productivity and happiness among employees is also increasing.

 

AI in its many forms offers users the ability to do tasks on a scale and at a speed that humans cannot achieve on their own. AI can also gain new insights from analytical tasks. It’s not just about collecting large amounts of data (=bigdata) and investigative it with advanced mathematics or developing amazingly complex algorithms. Once the gathered data is well extracted, managed and good algorithms are chosen, our society will gain countless hours of productivity with just the introduction of well automated tasks.

 

Thus, it seems important to clear the fuss around AI destroying jobs because it’s only fiction rather than a fact. Instead of destroying jobs, AI is bringing a gradual evolution in the job market, people are getting better at their jobs with the help of AI. According to a report from the World Economic Forum (WEF) called “The Future of Jobs 2018, and recent report called “Job creation and elimination worldwide due to AI 2022” AI, Machines and algorithms in the workplace are expected to create 2.3 million jobs. Even who does the work is changing rapidly – human, robot, or co-bot. The division of labour between humans, machine and AI is shifting quickly. By 2025, it is expected to shift to 48% human, 52% machine or algorithm. The combination of human and machine is the new normal in the workforce of the future.

 

Technology helps move society forward, and the integration of AI is doing the same. The integration of AI into healthcare, smart cities, law and other service-based industries is helping in making processes simpler and giving them enough time to focus on other issues. In this increasingly data-driven world the importance and impact of artificial intelligence is only growing and is becoming more crucial in gaining competitive advantage. Therefore, despite all the positive effects and worldwide boom in artificial intelligence industry, companies shouldn’t forget that AI is only a tool that they need to update/improve continuously instead of one-time investment in order to achieve their goals.

 

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Human Machine Partnership – Is 2018 the year of #MachineLearning?

Human Machine Partnerships2018 is all about the further rapprochement of man and machine. Dell Technologies predicts the key IT trends for 2018. Driven by technologies such as Artificial Intelligence, Virtual and Augmented Reality and the Internet of Things, the deepening of cooperation between man and machine will drive positively the digitization of companies. The following trends will and are shaping 2018:

 

Companies let AI to do data-driven thinking

 

In the next few years, companies will increasingly use the opportunity to let artificial intelligence (AI) think for themselves. In the AI systems, they set the parameters for classifying desired business outcomes, define the rules for their business activities, and set the framework for what constitutes an appropriate reward for their actions. Once these sets of rules are in place, the AI systems powered by data can show new business opportunities in near real time.

 

The “IQ” of objects is increasing exorbitantly

 

Computing and networking items over the Internet of Things are becoming increasingly cost effective. The embedding of intelligence into objects will therefore make gigantic progress in 2018. Networked device data, combined with the high levels of computing power and artificial intelligence, will enable organizations to orchestrate physical and human resources automatically. Employees are becoming “conductors” of their digital environments and smart objects act as their extension.

 

IQ of Things

 

AR headsets ultimate comeback in 2018

 

Its economic benefits have already been proven by augmented reality (AR). Many teams of designers, engineers or architects are already using AR headsets. Whether to visualize new buildings, to coordinate their activities on the basis of a uniform view of their developments or to instruct new employees “on the job” even if the responsible instructor cannot be physically present at the moment. In the future, AR will be the standard way to maximize employee efficiency and leverage the “swarm intelligence” of the workforce.

 

AR headsets

 

Strong bond of customer relationship

 

Next year, companies will be able to better understand their customers through predictive analytics, machine learning (ML), and artificial intelligence (AI) and use these technologies to improve their customer first strategies. Customer service will perfectly maintain the connection between man and machine. It will not be first-generation chatbots and pre-made messages that address customer concerns in the service, but teams of people and intelligent virtual agents.

 

Deeper Relationship with Customers

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The “Bias Check” will be the new spell checker

 

Over the next decade, technologies such as AI and Virtual Reality (VR) will enable those responsible to evaluate information without prejudgment and make decisions in an entirely balanced way. In the short term, AI will be used in application and promotion procedures to bring out conscious or unconscious prejudices. VR is increasingly being used as an interviewing tool to cover the identity of applicants with the help of avatars. “Bias checks” – “prejudice checks” – could become the standard procedure in decision-making processes in the future, just as spell-checking is today when it comes to writing texts.

 

Bias check

 

The mega-cloud is coming up

In 2018, an overwhelming majority of companies will adopt a multi-cloud approach and combine the different cloud models. To overcome the associated cloud silos, the next step will be the mega-cloud. It will interweave the different public and private clouds of companies in such a way that they behave as a single holistic system. With the help of AI and ML, this IT environment will be fully automated and consistently evaluated.

 

mega-cloud

 

IT security is becoming more important than ever

 

In today’s increasingly connected world, IT security companies need more than ever to rely on third parties. They are no longer individual instances, but parts of a bigger whole. Even the smallest errors in any of the connected subsystems can potentiate to fatal failures in the entire ecosystem. In particular, for multinational corporations, it’s a must in 2018 to prioritize the implementation of security technologies. This development is further fueled by new regulations, such as the GDPR regulation of the EU.

 

 

E-sports gaming industry ready for mainstream

 

Not least driven by virtual reality, the phenomenon of e-sports for companies in the media and entertainment industry 2018 finally become a fixture. Millions of other players and viewers are jumping on the bandwagon and making continuity e-sports mainstream for 2018. This phenomenon is representative of a bigger trend: even original physical activities such as sports are digitized. In the future, every business will be a technological business, and people’s free time will be shaped by networked experiences.

 

“People have been living and working with machines for centuries,” says Dinko Eror, Senior Vice President and Managing Director, Dell EMC Germany. “In 2018, however, this relationship is reaching a whole new level: man and machine will be more intertwined than ever, and that will change everything – from the way we do business to the design of leisure and entertainment.”

#MobileApp Forecasts 2018

Mobile Services Will Soar Globally To $32.4 Billion By 2018

In their forecasts for the year 2018, the app analytics company “AppAnnie” picks out the key changes in applications and the mobile app market industries. AppAnnnie sees the European legislation PSD2 as a trigger for the development of the financial sector and fin-tech companies. Not only that but the PSD2 directive will bring about one of the most important disturbances in the banking sector.
For those who don’t know, the PSD2 Directive is an extension of the first Payment Services Directive (PSD) adopted by the European Commission in 2007. The aim is to regulate the activities of payment service providers and to create a harmonized framework across the EU. This regulation is expected to increase the number of providers in the ecosystem and increase competition, with a view to offering consumers greater choice and greater transparency.
Danielle Levitas, SVP Research of App Annie, explains: “The European Open Banking legislation will unbundle the value chain of European banks. Aggregated apps are increasingly becoming the primary channel for private finance activities. Once the benefits of these changes have spread, we anticipate similar innovations outside the European markets. Nonetheless, traditional retail banking will continue to develop innovative ideas around the world. For example, in November 2017, Wells Fargo announced the launch of Greenhouse in the first half of 2018. It’s a standalone app that combines Mobile First bank accounts with spend analysis. “

 

P2P Payment – A FinTech App Revolution

P2P Payment - A FinTech App Revolution

In this context, App Annie also sees a total change in consumers sharing their money, especially among the Y-generation, also called Millennials, who were teenagers around the year 2000. These young people hardly carry any more cash in their purses. P2P transfers. Peer-to-peer (P2P) platforms facilitate the making of payments directly between peers, by allowing people to transfer funds from their own bank accounts, for example, into the bank accounts of others through online technology or mobile phones. P2P options are increasingly becoming available, including on social media networks like WeChat (through their ‘WeChat Wallet’ offering, in partnership with Standard Bank).

 

The interesting fact of P2P method is that the rates and terms of P2P transactions are more favourable for consumers, both in price and convenience. For consumers, it reduces the use of intermediaries or third-party institutions in their day-to-day dealings together with the need to physically travel to a bank to make payments, to deposit cash, or to access other key financial services.
A well-known example of a type of P2P platform is Blockchain, which allows peers to transact with one another and to record their transactions. Blockchain has its own virtual currency, in the form of Bitcoins, which can be used to conclude online purchases – buyers simply pay the Bitcoin amount at checkout and sellers receive that payment in their own currency.

Experts only sees an increase in transaction volume for P2P payment apps. The AppAnnie’s forecast is based on the increased number of instant transfers as well as payment service providers. According to App Annie, this is also because retailers and sellers are increasingly offering these services as a payment option.

 

Paying via social networks – WeChat from China makes it happen

In addition, App Annie notes that the tasks of banks and payment services are also influenced by very different players, such as messaging services and social networks. “WeChat stands out among these companies,” says App Annie. “For many users, WeChat is China’s main distribution channel for services and the central hub for many business activities.”

 

The future of the App Economy

 

Both the Apple App Store and the Android market will be celebrating their 10th anniversary in 2018. They can look back on a steady growth in apps: At the end of October 2017, more than 2 million apps were available on the iOS App Store and more than 3.5 million on Google Play. This trend will continue in the new year. App Annie expects worldwide consumer spending in all mobile app stores to increase by about 30% to more than $ 110 billion in 2018. As in previous years, the Chinese app stores will continue to be an important market in 2018 – especially the iOS App Store. App Annie writes: “In fact, we expect the Chinese growth rate to leave the rest of the world behind.”

 

The future of App Stores

 
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As the number of apps increases crucially, individual apps are becoming harder to find. This situation must be solved for example through categorization and editorial support. In June 2017, both Apple and Google announced the launch of updates for the iOS App Store and Google Play to address the issue of “lack of attention through app curation and editorial content”. These features will help users find the best and most adapted app to their requirements, while also managing select categories based on their areas of professional expertise. This way the existing apps can only benefit specially app in the entertainment and leisure sectors.

 

Augmented reality in apps is powered by Facebook, Google, Apple, Alibaba

Augmented reality in apps

Augmented reality has long sounded like a wild futuristic concept, but the technology has actually been around for years. It becomes more strong and continuous with each passing year, providing an surprising means of covering computer-generated images on a user’s view of reality by creating a combined view rooted in both real and virtual worlds.
The available selection of augmented reality apps is diverse, but Thanks to Pokémon GO and Snapchat, AR technology reached worldwide recognition. For now AR technology is used across numerous industries such as: healthcare, public safety, gas and oil, tourism, marketing etc. Worldwide shipment of smart augmented reality glasses are forecast to reach around 5.4 million units by 2020. And the global augmented reality market is expected to grow significantly to about 90 billion U.S. dollars by 2020.

 

Video Streaming – iOS and Google Play

 

“For video streaming services, 2017 was another outstanding year with new audiences and critical praise for in-house production. From January to October 31, 2017, video streaming apps have increased significantly. The increase in entertainment category was over 85% for iOS and over 70 % for Google Play compared to the same period in 2016. That’s a record increase!

 

The New Paradigm Of Retail

 

2018 retail is characterized by an interactive shopping experience that is technology-enabled. Ideally, retailers will focus to gather more and more business intelligence about consumer buying habits across all channels, collect new insights into shopper’s habits in order to plan their merchandising, pricing and promotional strategies designed specially to meet their individual needs.
These digital innovations will mark a big change in consumers shopping habits in 2018 as well. The overall changes will be in nature of existing retail channels (e.g., mobile app, web, physical store). For example, as you can see in China, according to App Annie, private customers in Western markets are increasingly turning to physical stores to pick up ONLY their mobile-bought goods. At the same time, the risk for the cash registers in the shops to disappear is very high.

 

The changing market fot food delivery

 

Worldwide, the market for food delivery stands at €83 billion, or 1% of the total food market and 4% of food sold through restaurants and fast-food chains. It has already matured in most countries, with an overall annual growth rate estimated at just 3.5% for the next five years.
These numbers shows how ordering food via platforms is already so popular that more partnerships are expected in 2018, according to App Annie. Food delivery service provider (DaaS), as described e.g. UberEATS, Deliveroo or Takeaway are currently trying to gain market share in premium markets where customers are more willing to pay more for good food.

 

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