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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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Machine Learning and Data Protection in the Cloud

Machine Learning and Data Protection in the Cloud

 

As more organizations are shifting infrastructure and services to the cloud, more are adopting a multi-cloud strategy. In fact theworldwide public cloud service market is expected to reach $623.3 billion by 2023. 83% of enterprise workloads will be in the cloud by 2020 and 94% of enterprises already use a cloud service.

 

These numbers show that most companies are already using cloud solutions in one form or another. In addition to the many advantages that the cloud can offer, it also increases the attack surface. Cloud growth creates new security threats, and organizations are struggling.

To guarantee a high level of security in the cloud, modern security solutions with machine learning, analytics and automation can help. Machine learning has already taken a massive increase in adoption over recent years and many businesses have already started to plan or have already developed machine learning models for security purpose.

 

Most IT departments are well equipped and informed with ensuring local network security. But how this really works in detail in the cloud is still relatively unfamiliar in many organizations. In addition, many business are already busy with securing their existing infrastructure, thus securing cloud infrastructures can be ignored or forgotten. What many businesses underestimate is that even complex hybrid infrastructures can be secured with advanced technologies that use machine learning, with a manageable cybersecurity budget.

 

In almost all industries, the cloud is already being used as an effective extension or replacement for some of the data center resources. And if you are not yet in the cloud, you are probably planning this step at the moment. But before moving to the cloud, make sure that critical security and regulatory questions are answered. As companies who adopt a multi-cloud strategy need visibility across it all to prevent downtime and to stay ahead of hackers.

 

Cloud-related threats are at an all-time high

 

It is not surprising that cloud-related threats keeps increasing, and there is no reason to believe that this will change in the near future. According to the recent study by the Ponemon Institute, the average cost of a data breach worldwide now equals $3.86 million – $148 per compromised record. However, the numbers vary greatly from country to country. In addition to that, a recent Skyhigh Networks study found that every organization operating in the cloud had almost two security incidents each month. These include: inside threats (both accidental and malicious), privileged user threats, compromised accounts, or data exfiltration. This shows that data is fundamentally endangered regardless of the storage location. Contrary to the often erroneous assumption, the provider of the cloud is never responsible for securing corporate data. For example, AWS states that they are responsible for the security of the cloud, but their customers for security within the cloud. Responsibility thus falls into the IT security of the companies using it, which often does not have the right personnel or know-how to guarantee security in the cloud.

Along with other challenges, IT security teams have a dual mandate to secure data in cloud services procured and managed by their organizations, as well as corporate data that employees upload to cloud services that they find and use on their own.

 

What specific steps can you take in this case to ensure security in the cloud as well?

 

A robust cloud security program includes technologies to protect, detect, investigate and respond to security incidents. The most effective cloud security technologies are data encryption, network encryption and SIEM (Security Information and Events Management). With the exception of SIEM, most technologies focus primarily on protecting and building a defense. However, next generation SIEMs also include proactive monitoring, analysis to improve detection and Reporting and forensics about security incidents, investigation and response to security incidents along with alerts based on analytics that match a certain rule set, indicating a security issue.

This makes the latest generation of SIEMs the ideal solution to secure hybrid environments. SIEM tools work by collecting and aggregating logs, reports and alerts from all of your security tools and solutions. These tools then present this information in a centralized location, by improving visibility and speeding incident analysis and response.

 

Machine learning key to securing data in the cloud

 

Fact that hackers are growing in sophistication and their malware is evolving quickly and continuously, enterprises must adapt a robust data protection strategy. Terms such as “data science” or “machine learning” started long ago as buzzwords in the IT industry. For some time now, however, the clever algorithms have been helping to recognize patterns in many areas and are already doing so in IT security. Many companies in numerous industries are currently facing the challenge of securing existing or future infrastructures in the cloud. Already used in speech recognition software and ERP systems for data management, the clever algorithms of machine learning are now being leveraged in cloud security solutions in order to enable enhanced threat detection and real-time security.

 

Next-generation machine learning algorithms are ideal for today’s cloud security because large data volumes are the most important condition for their reliability. These ‘intelligent’ solutions are able to take in high volumes of data from high-traffic environments andperform an extensive property and behaviour analysis to detect threats and take the appropriate actions in a variety of scenarios.

Therefore, the use of machine learning is the logical response to the growing amount of data and the ever-evolving threats found in the cloud. Machine learning solutions are helping organizations to secure data and enabling them to securely adopt any cloud application, despite advanced malware.

 

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2020: Year of Chatbots

chatbot artificial intelligence salesforce

 

Artificial Intelligence (AI) is all around us and we are taking advantages of it continuously via our smartphones, wearables, Internet of things, cars, home appliances, in our offices, in public services, in our retail experiences throughout media and beyond. AI has fulfilled its promises to fundamentally change our everyday living. Artificial intelligence (AI) has the potential to transform industries and the way organisations and professionals used to work. With the ability to learn and adapt, AI is capable to develop increasingly sophisticated capabilities that will allow it to execute a growing number of tasks that works perform manually today.

 

According to an April 2019 survey from Ada and Forrester Consulting, 89% of customer service decision-makers in Canada, the UK and the US believe chatbots and virtual agents are useful technologies for personalizing customer interactions. Another study from Juniper Research has found that the operational cost savings from using chatbots in banking will reach $7.3 billion globally by 2023, up from an estimated $209 million in 2019. This represents time saved for banks in 2023 of 862 million hours, equivalent to nearly half a million working years.

 

While there had initially been fears that AI would replace human workforce and take over jobs, the emerging consensus is that is proving to be a bonus for enterprises and human workforce because it will allow machines to execute repetitive, routine tasks while freeing human up to perform higher level activities that will increase their overall productivity. In addition to that, As AI has been identified as one of the biggest technologies for the economic growth. More and more business and governments are launching programmes designed for developing deep learning capabilities in AI in order to build an AI ecosystem.

According to PwC’s 22nd Annual Global CEO Survey, AI will add US$15.7 trillion to global GDP by 2030, which is more than the current output of China and India combined. Gartner predicts that 70% of organizations will integrate Artificial Intelligence to assist employees’ productivity by 2021. Business leaders know that those who take the lead now will get the biggest share of this prize. according to the latest Global CEO Survey, nearly 3 out of 5 Global CEOs believe AI will have a larger impact on the world than the internet revolution.

 

ARTIFICIAL INTELLIGENC LARGER IMPACT THAN THE INTERNET REVOLOUTION

 

These figures show that AI is increasingly making its way into any workplace with the help of virtual personal assistants (VPAs) and other forms of chatbots and expanding human performance in many organizations. For enterprises, AI chatbots offer a way to build a more personalized and engaging customer experience, which in return delivers a wealth of customer information that is highly valuable in better understanding their customers and growing their business.

US market researcher expected that 85% of consumer-business interactions would be through intelligent bots. The new online study from USU confirms a high potential for the customer service of the future. Here below are few key areas where businesses can derive value from chatbots:

 

    • Business are creating value through transforming customer journeys by providing immediate response to consumer’s queries or issues. According to McKinney’s study, 75% of customer demand NOW service within 5 minutes of online contact. If business can beat this time, they can convert a ‘visitor’ into a ‘paying’ customer.

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    • Staffing a 24x7x365 contact center mainly with human agents can be costly. According Human Resource Institute, it costs companies $10-$15k to replace one frontline employee. Therefore, it’s easier for Business to avail a 24/7 customer service via their chatbots ecosystem that are able to resolve customer queries related to i.e. complaints, product returns, refunds, tracking & tracing of orders etc in no time. According to a survey by Oracle, 80% of brands are planning to integrate Chatbots in their customer service by 2020.

 

    • Chatbots help to reduce costs by enabling enterprises to serve more customers without hiring extra staff as Chatbots are able of speeding up response times, freeing up agents for more challenging work, and answering up to 80% of routine question.

 

    • Chatbots not only help to reduce cost but they also drive more revenue by upselling as they can remember customer’s preferences, they are able to provide advice, tips and recommendations. All of this is possible if the chatbot is intelligent enough to know the customer’s buying journey.

 

 

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Artificial Intelligence: Top Pick Statistics for 2020

Artificial Intelligence Top Pick Statistics 2020

    • According to the market research firm Tractica, Revenues from the artificial intelligence (AI) software market worldwide is expected to have a growth of 6 billion by 2025 – Statista

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    • According to Gartner, Inc. 25% of customer service and support operations will integrate virtual customer assistant (VCA) or chatbot technology to communicate with customers by 2020 – Gartner

 

    • Large companies are adopting AI at a rapidly accelerating rate. Just 4% of enterprises had adopted AI 12 months ago. Today, 14% of enterprises have deployed AI. A further 23% intend to deploy AI within the next 12 months. Adoption will continue to accelerate; in two years, nearly two thirds of large companies will have live AI initiatives – Gartner

 

    • According to PwC analysis, AI, robotics and other forms of smart automation will bring great economic benefits and contribute up to $15 trillion to global GDP by 2030 – PwC

 

    • By 2020, investors will use platform, data value and customer engagement metrics as value factors for all enterprises- IDC

 

    • IDC predicts that the Global Datasphere will grow from 175 Zettabytes by 2025 – IDC

 

    • Artificial intelligence has come into the mainstream because it allows us to make sense of an increasingly large amount of data in real time. Indeed, worldwide data will grow 61% to 175 zettabytes by 2025- IDC

 

    • In order to fill skill gaps caused by the need of AI adoption,75% of organizations will be investing in employee retraining by 2025 – IDC

 

    • By 2021, at least 50% of global GDP will be digitized with growth in every industry driven by digitally enhanced offerings, operations, and relationships- IDC

 

    • The RPA Services Market will grow to reach $12 Billion by 2023. Also to be noted that, Forrester has previously projected that the RPA software market itself will grow to $2.9 billion by 2021. – Forrester

 

    • 11,214 results This is the number of open positions produced by a recent search for “robotic process automation”on LinkedIn’s jobs site. Titles vary within this growing IT jobs category, but “RPA developer” (and variations of the same) is an increasingly common one – reflecting the need for IT pros who can build the bots that enable organizations to offload repetitive, time-consuming tasks – LinkedIn

 

    • Clinical health AI applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026 – Accenture

 

    • Growth in the AI health market is expected to reach $6.6 billion by 2021—that’s a compound annual growth rate of 40% – Accenture

 

    • According to a report by Statista, revenue in the Smart Home market amounts to $90,968m in 2020. Household penetration is 9.3% in 2020 and is expected to hit 19.3% by 2024. The average revenue per installed Smart Home currently amounts to $77.07. Revenue is expected to show an annual growth rate (CAGR 2020-2024) of 15.0%, resulting in a market volume of $158,876m by 2024 – Statista

 

    • 80% of all marketing executives predict Artificial Intelligence will revolutionize marketing by 2020 by generating a better sale close rate, increase in revenue, improvements in website traffic and customer engagement and a higher conversion rate of potential leads to paying customers- DEMANDBASE

 

    • Chatbots integration will allow banking and healthcare sector to save $8billion annually by 2020- Juniper research

 

    • AI surveillance technology is spreading at a faster rate. At least 75 out of 176 countries globally are actively using AI technologies for surveillance purposes, including smart city/safe city platforms (56 countries), facial recognition systems (64 countries), and smart policing (52 countries) – Carnegie endowment for international peace

 

    • AI embedded in analytics and other marketing software will free up more than a third of data analysts in marketing organizations by 2022, providing them with more time to spend on other business priorities instead of spending time on repetitive manual processes – Gartner

 

    • In approximately 60% of occupations, at least 30% of constituent activities are technically automatable by adapting currently proven AI technologies in sectors such like: Finance and insurance, Retail, transport and trade, Professional services, Manufacturing, Healthcare – McKinsey Global Institute

 

    • According to the report, the global artificial intelligence (AI) in cyber security market was USD 7.1 billion in 2018 and is expected to reach approximately USD 30.9 billion by 2025, at a CAGR of slightly above 23.4% between 2019 and 2025 – Zion Market Research

 

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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IT Trend 2020: Future of Cloud Computing and Experts Predictions

 

2010 defined Cloud computing’s past, present, and future when technology giants Microsoft, Google and Amazon Web Services launched their cloud platforms. It went from “what is cloud” to “where and when can we use it for cost-cutting options” to “why not cloud”? And there’s no doubt that even in 2020, it’ll be one of the key innovations that will be the subjects of countless business and technology discussions.

 

Evan Kaplan, CEO, InfluxData

Cloud Is the Future Business Model for Open Source Companies

“The coming year will show that cloud-based applications are the winning monetization strategy for open-source software companies. While the first generation of companies that developed open-source software tried to use a paid customer support and training model, the last couple of years have shown that to be unsustainable. In 2020, pay-per-use, cloud-based services will take hold as the leading business model for open-source companies. As enterprises increasingly focus on agility and time-to-value, cloud-based services can deliver speed and scalability for customers that are willing to pay and by extension they offer a source of revenue for software companies that want to develop and monetize open-source technology.”

 

Here below is a list of trends that will (re)shape the cloud in 2020 along with the experts predictions for cloud 2020 and beyond:

 

 

  • Public cloud adoption: The buzz around cloud gives impression that everyone has adopted the cloud. This is almost true if we refer to consumer tools, such as email or online file storage, but it is much less so for businesses. In reality, 94% of enterprises are already using a cloud service and according to Gartner’s forecast, the public cloud service market is expected to reach $623.3 billion by 2023 worldwide with 83% of enterprise having their workloads in the cloud by 2020. Means cloud was already a huge deal in 2019 and it’s only going to grow in numbers!

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Vadim Vladimirskiy, CEO, Nerdio

Public Cloud Adoption Will Rise Thanks to Managed Service Providers

“Public cloud adoption will continue to rise as a result of MSPs seeking a more secure IT environment, as it’s currently a top concern causing them to rethink the continued feasibility of their practice and offerings. Public cloud is a huge comfort here because if MSPs store their data and apps with someone like Microsoft – they get the work and knowledge of thousands of people who are dedicated solely to security.

 

  • Multi- cloud adoption: In order to offload the burdens of compliance, more and more companies are looking for solutions that serve the needs of their specific industry. Therefore, public and private clouds and data centers are brought together in a multi-cloud approach to offer an unprecedented level of service and efficiency. According to Gartner, more than $1.3 trillion in IT spending will be directly or indirectly affected by the shift to cloud by 2022.

 

Karthik Ranganathan, Founder and CTO, Yugabyte

Multicloud Deployments Will Accelerate

“Multi-cloud deployments are becoming the norm in today’s enterprise. In 2020, this trend will continue to accelerate. A multi-cloud approach is critically important for organizations that run on-premise, since they need to stay in a hybrid mode when moving microservices to the cloud. As a result, we expect to see enterprises widely embrace distributed SQL databases to ensure agility without the availability constraints of traditional monolithic databases, like Oracle.”

 

David Linthicum, Chief Cloud Strategy Officer, Deloitte Consulting

Public Cloud Providers Will Need to Adopt to Multicloud

“In 2020, I also believe we’ll see public cloud providers finally accept that they will most often be deployed as part of a multi-cloud architecture. Thus, we’ll see native public cloud tools that will be focused on managing, securing, and governing several cloud brands, all from a single cloud brand. At the end of the day, this can provide public cloud providers with a key advantage that they are able to exploit to grow the use of public cloud in general. Who will be first?”

 

 

  • Hybrid- cloud adoption: In order to extract maximum benefits from using both a private cloud and public clouds, many organizations are adopting hybrid clouds. As it’s linked to the public cloud, and allows organizations to switch back and forth between their own tools, and the tools offered by various cloud providers, improves speed and flexibility. A survey from IDC has demonstrated a growth of 7% in 2019 – 58% in 2019 up from 51% 2018, of organization using a hybrid strategy. The hybrid strategy will continue to grow in 2020.

 

Haoyuan Li, Founder and CTO, Alluxi

The Rise of the Hybrid Cloud

“We’ve been hearing people talk about the hybrid cloud for the past three years now. And for the most part, that’s all it’s been – talk. 2020 is the year it gets real. But first, what does hybrid cloud actually mean? Red Hat defines hybrid cloud as “a combination of two or more cloud environments—public or private.” We are seeing large enterprises refusing to add capacity on-prem to their Hadoop deployments and instead invest in the public cloud. But they are still not willing to move their core enterprise data to the cloud. Data will stay on-prem and compute will be burst to the cloud, particularly for peak demands and unpredictable workloads. Technologies that provide optimal approaches to achieve this will drive the rise of the hybrid cloud.

 

Wally MacDermid, Vice President of Cloud, Scality

Hybrid Cloud Will Become the Dominant Architecture for Enterprises

“Microsoft Azure (Azure Arc, Azure Stack Hub, Azure Stack Edge), Amazon Web Services (AWS Outpost, VMware on AWS) , and Google (Anthos, Google Kubernetes Engine) are all investing heavily not only in solutions that connect on-premises infrastructure to their own public clouds, but also in cross-cloud interoperability and management. This blurring of lines between vendors and technologies is an excellent development for enterprises who are looking not to be locked into a single vendor, but for the best technology to solve specific business problems.”

 

  • Edge Computing adoption: The cloud is designed in large centralized data centers, and companies that need almost instant access to IT resources and data are turning to a new distributed cloud infrastructure called edge computing. Edge computing is a “mesh network of micro data centres that process or store critical records locally and push all received records to a central data centre or cloud storage repository, in a footprint of less than 100 square feet,” according to research firm IDC. Technically, it’s winning its game around data processing by refocusing the flows on the most important data in order to reduce the latency to approach real time. It is also the infrastructure of choice for another revolution, the IoT, as with the advancement in IoT, artificial intelligence, a new concept is coming in the market i.e., smart city initiatives that support the implementation of edge computing. Previously valued at USD 1,704.75 million, The edge computing market is expected to reach USD 9,325.33 million by 2025, registering a CAGR of 34. %, during the forecast period of 2020-2025.

 

Aron Brand, CTO, CTERA

Edge Computing Will Go Mainstream

“2020 will mark a notable shift in enterprise IT as the dawn of a new era of edge computing arises. The first-generation model of centralized cloud computing and storage has now run its course, and most of the new opportunities for enterprise data management reside at the edge. […] Such data growth outside the datacenter is the new reality, and it’s creating a need for enterprises to deploy computing power and storage capabilities at the network edge, aka edge computing. Enterprises are already investing in edge computing to move faster, to have data continuously available, and to improve data security. As edge computing goes mainstream in enterprise IT in 2020, edge-to-cloud architectures that manage data centrally while making it instantly available to users at the edge will be a key enabler for business success.”

 

 

 

 

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IT Trend 2020: Hyper-Automation

IT Trend 2020: Hyper-Automation

Gartner Top 10 Strategic Technology Trends for 2020 have listed Hyper Automation as one of the biggest trends for 2020, as more and more enterprises are adopting automation in their work processes. Forrester has predicted that the global market for RPA services will hit US$7.7 billion next year and is expected to grow to US$12 billion in 2023. AI is increasing productivity through automation and is helping organizations derive meaning from ever-larger data sets.

 

Hyper-automation is the mixture of automation technologies that exist to expand and increase human capabilities by allowing organisations to automate more complex work with the help of robotic process automation (RPA) at its core, with artificial intelligence (AI), process mining, analytics, and other advanced tools that strengthen the ability to automate work. As defined by Gartner:

 

“Hyper-automation deals with the application of advanced technologies including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans.”

 

The adoption of Automation is helping organizations, that are data-driven, to be able to better respond to their customers’ demands, identify new business opportunities, improve their service delivery, eliminate all human errors, and reduce costs.  The idea is to automate more and more knowledge work, and engage everyone in an organization to be part of the transformation.

 

How is hyper automation important for enterprises in 2020?

 

Over 1 million knowledge-work jobs will be replaced in 2020 by software robotics, RPA, virtual agents and chatbots, and machine-learning-based decision management, predicts research firm Forrester in their new report, “Predictions 2020: Automation.”

Data Science, Analytics and Cognitive technologies are feeding RPA with the intelligence which is revolutionizing software automation in industries. Hyper automation offers a lot of benefits to the business by giving access to collaborative intelligence where humans and technology works side by side so that they can perform their roles optimally. As employees don’t need to perform repetitive tasks, they can be educated to work with automation tools, wisely and with intention, and learn the latest business and marketplace information through machine learning. They can also to taught how to interpret AI-enabled decision-making, find creative solutions to resolve problems and get more engaged with their jobs.

 

Simply put, once Hyper automation is incorporated into your business it will help to reduces human effort by doing a lot of work in lesser amount of time, reduce the risk of human errors as machines are calibrated for precision, improve the quality of jobs by eliminating deadly, exhausting, and dangerous for humans processes and leads to increased productivity and higher output.

 

But before any implementations, business must think and identify areas and processes where automation is really needed.  Business leaders must make a business plan and estimate the the return on investment, and of course train existing personnel to make the most of automation instead of thinking that automation will take their job.

 

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2020: Data Center Trends and Transformation

2020: Data Center Trends and Transformation

With the exponential growth in the amount of data, things are changing quickly for the data-center industry. International Data Corporation (IDC) estimates that worldwide data will grow to 79.4 zettabytes (ZB) by 2025. Since it is almost impossible for a company to increase its own data stores every year, they are increasingly turning to IT services from the cloud. Cloud adoption and the rise of hyperscale IT and cloud firms has driven demand, particularly for large-scale space, but also for innovation. Those cloud providers that can provide innovation, automation, scalability and flexibility and customization will be able to differentiate themselves from the competitors and survive in the long term.

 

Gartner predicts that, by 2022, 28% of spending in key IT segments will shift to the cloud, 41% of enterprises workload will be run on public cloud by 2020 with a split of 20% on private cloud and 22% on hybrid, according to Forbes.

 

To keep pace with complete digitization and survive long term, data center providers must:

 

  • Attract multiple hyperscale deployments to build their cloud ecosystem
  • Provide with innovation, automation, scalability and flexibility and customization
  • Have their data centers in multiple remote locations
  • Data-centers are well-equipped with backup solutions for all primary components, such as HVAC, fire, power, etc
  • Are equipped withdisaster recovery plans in case of mishaps, power failures, etc
  • Have an interconnection platform, or services beyond colocation
  • Are able to possesses a large ecosystem of clients/customers who are already interconnected.
  • Implement and respect European cloud data rules and regulations for secure digitization and networking
  • Being able to handle companies’ data, either it’s healthcare, mobility, banking or manuacturing, safely and efficiently in clouds
  • Provide a rapid upgrade
  • Are using up-to-date version of software and technology to protect company assets, along with a strong physical security, as the average cost of a cyber attack on data centers reached to $18.9 million, up from $8.9 million.
  • Are capable to respond to the accelerating demands of big cloud operators for more capacity, equipment designs, build approaches, and incremental power requirements and hyperscale option.
  • Are well organized to fight back with down-time in case of power issues with battery backup and onsite generators.

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This shows how important it is to select a data center that meets your business needs. The wrong data center could lead to issues with poor Internet service, limited scaling, security breaches and can be the reason to damage your company’s reputation. But, despite the checklist above, selecting data center is not as complicated as it may seem. When it comes to what data center you choose, the most important factor is the services offered, followed by proximity to your primary audience. The advantage of working with a good data center is getting all of the benefits of access and not having headaches of being responsible for any infrastructure.

 

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IOT – Business Transformation by 2025

 

Internet of Things connected devices installed base worldwide from 2015 to 2025

 

By 2025, International Data Corporation (IDC) estimates that worldwide data will grow to 79.4 zettabytes (ZB), generated by 41.6 billion connected IoT devices, or “things,”. To be noted that there were an estimated 22 billion internet of things (IoT) connected devices in use around the world by the end of 2018.

 

This exponential  growth in the amount of data is explained by the growth in the number of connected devices, no matter of what size they are, they are everywhere in our daily life such as smart appliances (stoves, refrigerators, washers and dryers, coffee machines, slow cookers), Smart security systems, smart locks, and smart doorbells), Smart home hubs (that control lighting, home heating and cooling, etc.), Smart assistants (like Amazon Alexa or Apple’s Siri), Fitness and health trackers, sleep trackers, and smart scales, videos surveillance cameras etc. Thus, the link between the data creation and smart devices is obvious. Data is not only being gathered by smart home and smart surveillance but also via industrial and medical IOT as well by creating an increasing demand of the IT infrastructures, therefore more and more enterprises and service providers are now looking at IoT as a powerful source to drive digital transformation and to unlock the operational efficiencies.

 

IDC forecasts that the amount of data created by these connected IOT smart devices will reach to an annual growth CAGR (Compound Annual Growth Rate) of 28.7% between 2018-2020. This data is sent directly by sensors or via gateways to centralized platforms that gather, process, store, analyse and visualize this data to create insights and improve operational efficiencies of processes. Advances in AI and real-time communication are the main cause of this exponential growth in IOT. Enterprises are extracting a maximum of advantage from the data generated by IOT for better and faster decision-making, predictive analytics and automation of workforce. These digital transformations are bringing them numerous benefits such as higher productivity, GDP growth, improved corporate performance, and new prosperity.

 

IOT is not only shaping our lives but changing the traditional legacy business at a rate of change never seen before in history. Empowered by exponential increase in AI, computing power and availability of large amount of data, machines are fast learning to become workforce of future in several areas. As machines and products have started communicating with each other without any human intervention, the real value of data is getting generated and helping business leaders in better and faster decision-making, predictive analytics and automation.

 

In addition to that, 5G will reshape IOT and smart devices by boosting the speed, coverage and responsiveness of wireless networks. According to Aleksander Poniewierski, EY Global IoT Leader and partner, “IoT cannot thrive without effective and affordable wireless connectivity, interoperability and common standards. We believe 5G has the potential to make a ground-breaking impact on the way in which future IoT ecosystems are designed, especially in the areas of scalability, latency, reliability, security and the level of individual control on connectivity parameters.”

 

As IOT adoption in enterprises will reach to 65% in 2020, a 35% increase from 2017, IT and business leaders need to consider the extent to which they can use IOT to improve ROI, market competitiveness, and brand differentiation. They must be able to build digital security around potential sensitive personal and corporate data.

 

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Powerful use of AI in Customer Service

Powerful use of AI in Customer Service

AI technology has long history which is actively and constantly changing and growing. As the AI era continues to unfold, it’sset to play an increasingly prominent role in our day-to-day livesand becoming one of the most important technology trends of our lifetimes.

According to researcher Gartner research, 85%of customer service operations will use Virtual Customer Assistants by 2020and will drive up to $33 trillion of annual economic growth. As today’s Artificial Intelligence (robotics) has the capabilities to imitate human intelligenceby performing various tasks that require thinking and learning, solve problems and make various decisions companiescan provide a better customer-oriented service with the use these software’s.

 

Here below are fewbenefits that AI-based systemsprovide in Customer Service.

 

Chatbots

Artificial Intelligence is redefinesthe customer service standardswith the use of advances chatbots. With chatbots, powered by AI, answers can be found automatically for a large number of customer questions,better and quickerthan by the call centre employees.However, for chatbots, clearly defined tasks should be defined; basically, they are most efficient when addressing a limited topicBut as Natural Language Processing and Machine Learning are making these Chatbots work far better, and their scope in providing service is increasing as these bots process more information and detects consumer behaviour in all terms.

 

Multi-channel Support

Artificial intelligence customer support has capabilitiesdirect the customer quariestowards alternative support channels when necessary. For example, if a Chatbot is unable to solve a particular query, AI will direct the customer to the call support channel to resolve the issue. This provides a bettercustomersservice, as theyhave their issues solved efficientlyand quickly.

 

Automated Response

AI and automation are already having a profound effect on business communication. With the use of automated response system, AI can take-off a lot of load from customer service teams. With the integration of automatic replies, they can save time and offer quick replies.Based oncustomer data, AIcan help identify customer issues and concerns even before they get in touch with customer serviceand generate the answer that is directly related to that customer’s situation.

 

24/7 customer service

For a company, either is a medium or large sized, it’s impossible to hire a customer support available 24/7 as its overall cost can exceed their budget. Thus, AI is the solution that can manage flawless their customer service operations with itsimpeccable capabilitiesofhandling all problems with fluency and precision.

 

Language barrier

A company that is expanded at multiple locations might face difficultiesto provide acustomer support network in different regions with different time zones. But no matter what your communication medium or language you want to install, AI can managefast, reliable, durable, multilingual and hassle-free technology. These are, of course, some few promises of AI for your business.

 

With the use of artificial intelligence in the field of customer service, companies aim to realize an optimized customer experience – across channels and in real time. First and foremost, AI technologies and machine learning processes are elementary tools to achieve a significantly higher level of customer focus.

 

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