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Artificial Intelligence
Augmented Reality and Retail – a match made in the digital world (Virtual Shopping)
Solomon is a gadget lover. He is considering buying a new smart TV for his living room. He happened to be in a mall and casually walked into the electronics section and ended up at the Televisions aisle. He likes the looks of a TV on display. He points his smartphone to that TV and in an instant, accesses all the available digital information on that TV – specs, product videos, customer reviews. He decides to go for it. Well, what the retailer did was to convert a shopper into a buyer. What helped the retailer clinch the deal is the integration of Augmented Reality into the in-store experience to take that experience to a whole new level. By placing content directly in front of a potential consumer – in a more easy, personalized and engaging way – the retailer influenced a purchase decision. It is happening, and it is now! The all pervasiveness of digital technologies has changed every industry and every walk of life. While that’s a given, the ability to gauge how an emerging technology is going to impact your business and make the transition quickly is a deal maker. Today, the two trends that are central to Retail are ‘convenience’ and ‘customer engagement.’ Using digital technologies intelligently, progressive enterprises are focusing on innovating on both these aspects in order to convert shoppers into buyers. And the one technology that is literally pushing the boundaries of innovation in Retail is Augmented Reality (AR). AR is a technology that superimposes a computer-generated image on a user’s view of the real world. It is commonly implemented using a person’s phone camera. The technology is well suited to retail as it can be used on a mobile device without the need for a headset. Though Augmented and Virtual Reality are not new, it is their innovative application by Retailers and Brands that is opening new frontiers in creating truly immersive shopping experiences that bridge the gap between digital and real. According to a study by Citibank, AR driven commerce is expected to account for 25% of all online retailing by 2035.
Anand Ethiraj
January 16, 2019
5
min read
Artificial Intelligence
Impact of AI on Banking & Insurance (2 Exciting Use Cases)
Digital transformation is taking the financial industry by storm. Artificial Intelligence and Machine Learning are the red-hot technologies transforming the sector, reeling under the pressure of managing customers and their data. Finance is a process-heavy industry and produces a lot of data. The industry has struggled to improve its data management over the years, yet failed due to lack of systems and tools. The real challenge is managing the data with the current systems, tools, and processes. Now, the invasion of AI and ML has enabled Finance companies to improve their end-to-end processes and data management. And the technologies are helping greatly improve the Finance company’s performance, efficiency, and customer satisfaction. With many benefits to offer, companies are heavily dependent on these futuristic technologies. Here are some of the challenges the industry faces daily. Managing customer data Adjusting strategy to improve customer satisfaction Making quick and decisions Enticing customers with offers and discounts Engaging customers Serving customers Risk management Detecting fraudulent activities Improving customer retention rate Enhancing customer satisfaction, etc. Consider any finance-based company – Banks, Insurance, etc., that faces the above-stated challenges daily and looks for solutions to negate them. Before diving deep into understanding the impact of AI/ML in the Finance Industry, let’s throw light on their growth across different verticals.
Gengarajan PV
January 19, 2023
5
min read
Artificial Intelligence
The Impact of AI-Powered Virtual Assistants on Enterprise Mobile Applications
In today’s fast-paced business environment, mobile applications have become an essential tool for enterprises to streamline operations and enhance productivity. With the rapid advancements in artificial intelligence (AI) technology, the integration of AI-powered virtual assistants into these applications has a revolutionary impact. By leveraging machine learning algorithms and natural language processing capabilities, AI-powered virtual assistants, such as Siri, Alexa, or Google Assistant, are transforming the way employees interact with enterprise mobile applications. These virtual assistants can perform a wide range of tasks, from scheduling meetings and answering queries to analyzing data and providing personalized recommendations. The impact of AI-powered virtual assistants on enterprise mobile applications is multi-faceted. Not only do they provide a more intuitive and efficient user experience, but they also enable employees to access information and complete tasks more quickly. Moreover, these virtual assistants can gather valuable insights from user interactions, allowing enterprises to make data-driven decisions and optimize their mobile applications accordingly. With the potential to revolutionize productivity, AI-powered virtual assistants are poised to be a game-changer for enterprise mobile applications. As businesses continue to embrace these technologies, the future of work is bound to become more streamlined and efficient.
Nandhakumar Sundararaj
February 8, 2024
5
min read
Artificial Intelligence
Utilizing Natural Language Processing (NLP) in B2B Mobile Apps: Enhancing User Interaction and Insights
In today’s fast-paced digital landscape, businesses are constantly seeking ways to enhance user interaction and gain valuable insights. One technology that has emerged as a game-changer in this realm is Natural Language Processing (NLP). Its ability to process and understand human language allows B2B mobile apps to provide a more intuitive and personalized user experience. By leveraging NLP in mobile app development, businesses can unlock a wealth of benefits. Firstly, NLP enables apps to understand and interpret user commands, making interactions more seamless and efficient. Users can now engage with apps using their natural language, eliminating the need for complex menu navigation or keyword searching. Secondly, NLP empowers businesses to extract meaningful insights from user-generated data. By analyzing customer feedback, support queries, and other textual inputs, apps can uncover trends, sentiments, and patterns that inform decision-making processes. Furthermore, incorporating NLP capabilities in B2B mobile apps can enhance customer satisfaction and loyalty. By providing personalized recommendations, intelligent suggestions, and proactive support, businesses can deliver a more tailored and engaging user experience. In this article, we will explore the key benefits and strategies of utilizing NLP in mobile apps, and how it can revolutionize user interaction and insights. Get ready to unlock the full potential of NLP in enhancing your B2B mobile app experience.
Rajesh Subbiah
May 2, 2024
5
min read
Artificial Intelligence
The Role of AI in Software Testing and QA
In today’s dynamic digital landscape, it’s becoming increasingly crucial for businesses to deliver innovative but also reliable and bug-free software. Manual software testing can be time-consuming, expensive, and prone to human error. This is where the role of Artificial Intelligence (AI) comes into play. With its ability to analyze vast amounts of data, identify patterns, and learn from past experiences, AI is revolutionizing the field of software testing and Quality Assurance (QA). By utilizing AI-powered tools and techniques, companies can automate various aspects of software testing, such as test case generation, bug detection, and performance monitoring. This speeds up the testing process and enhances its accuracy, efficiency, and effectiveness. AI can simulate real-world scenarios, uncover potential vulnerabilities, and provide insights that help developers improve their software before it reaches end-users. One of the primary benefits of using AI in software testing and QA is the ability to scale the testing process. Traditional manual testing methods can quickly become overwhelmed as the complexity and size of software applications grow. AI-powered systems, on the other hand, can handle large volumes of test cases, data, and scenarios, ensuring that every aspect of the software is thoroughly tested and validated. This leads to a significant reduction in the time and resources required for testing, ultimately accelerating the software development lifecycle and time-to-market for new products and updates.
Gengarajan PV
July 25, 2024
5
min read