Clutch Hails Fingent as India’s Top Software Developer for 2021
We are thrilled to announce the news!!!
Fingent is once again recognized by Clutch for its many innovations and robust industry solutions. And this time we are ranked as the Top Software Developer for 2021, in India!
Why is Fingent recognized as India’s Top Custom Software Development Company?
Our focus here at Fingent is to help emerging enterprises make a difference with improved business agility and efficiency that’s powered by cutting-edge web and mobile solutions. Our goal always lies in delivering next-generation enterprise applications that streamline business processes and promises unique user experiences.
We make sure that our clients get what they expect and more. With our expertise in emerging technologies, we deliver custom, pre-packed, and hosted applications that support all operating systems and cloud platforms for improved business reach and growth.
Moreover, we don’t just build software! We collaborate with businesses to understand their struggles in the market, and determine the perfect technologies that can enhance their capabilities and grant them a competitive advantage. We also make sure to bring these solutions promptly and cost-efficiently.
Here’s looking back at the success stories of some of our Indian Clients!
GST Implementation in SAP: With the changing regulations of GST policies in India, our client, HOCL, an enterprise owned by the Government of India to indigenize the manufacturing of vital organic chemicals, wanted to integrate GST into their SAP system and support the GST implementation. The enterprise, consisting of complex and critical workflows, required the implementation to be quick and fast adaptive to the existing environment.
What we did was a 100% compliant GST implementation in the customer’s SAP system, while carefully addressing all taxable scenarios and specific requirements. Our strategized and timely implementation of GST changes into the customer’s SAP system, ensured zero deviation from the regulatory timeline, and zero effects on the business continuity.
An E-commerce Platform to Streamline Medical Procurement: Analyzing the challenges of the healthcare industry in procuring quality medical supplies, Kogland required a streamlined platform to seamlessly connect top vendors and trusted brands with healthcare organizations.
Fingent helped the firm develop an e-commerce platform that delivered a hassle-free shopping experience for healthcare sectors, as well as a trusted selling platform for healthcare vendors. Capabilities around Magento were utilized to serve the front-end of the e-commerce functionalities, whereas advances in Odoo to structure the back-end operations of the company, including sales, purchases, inventory, and accounting.
Based on these successful projects in India, in research conducted by Clutch in 2021, Fingent stood as one of the top software development companies in India!
Clutch is a popular B2B rating and review platform that crucially evaluates tech service and solution companies based on their client reviews and work qualities. We are thrilled and excited to have been awarded this title from Clutch, and we look forward to more successful client stories and achievements in the future.
We are also truly thankful to our clients who constantly support us by posting their honest reviews and thoughtful feedback on the Clutch website.
“We are recognized for our clients, and that’s why we make sure that their dreams and ideas come to life with the advances and expertise we have in technology today! We are truly thankful to Clutch for appreciating our efforts.”
– Varghese Samuel, CEO & Managing Director, Fingent.
If you are looking for a technology partner to innovate your business ideas, then contact us now, and let’s talk about your project and goals.
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How to gain maximum value from technology investments for your business?
The slow economy stemmed from the COVID-19 pandemic is forcing organizations to identify and cut all unnecessary costs. Unfortunately, technology investments also fall prey to these budget cuts. It happens when businesses invest in technology without adequate planning.
According to a survey, 29.2% of respondents holistically examine their technology usage while searching for efficiencies. It may mean canceling or delaying new projects and purchases or reducing or canceling maintenance and support contracts for existing investments.
Research by Accenture reveals that while 47% of the companies are building their future growth strategies on mobility and technology, considering inefficient technology as one of the top hindrances to their growth. It is clear that IT-led innovation is the need of the hour, and 82% of companies are investing specifically in technology for improved growth.
Simply put, now, it is crucial to improve the return on investment of resources, optimize costs, and select the right solution when making sourcing decisions.
Here, we share a few tips to help you gain full value from your technology investments.
Ways to optimize costs
Gartner reveals that optimizing costs is essential for businesses and is one of the best ways to control spending and attain cost reduction while maximizing business value.
Optimizing costs should take into account:
- Automating and digitizing business operations
- Simplifying and standardizing applications, platforms, processes, and services
- Obtaining the best terms and pricing for business purchases
While this means ensuring that technology investments generate the maximum possible value, it also means cutting costs and considering how each technology investment drives business value.
Some technology may be expensive, but it doesn’t mean that it isn’t providing value to the organization. Expensive technology may already be optimized because of the value it generates, while inexpensive technology may be unused and wasted. Therefore, it is important to make the right decisions regarding purchasing hardware, software licenses, or cloud services contracts.
Once you have identified and mitigated what you do not need and what you need, there are no more costs to reduce. It is time to look at how to optimize technology assets.
Ways to get the most out of your tech investments
Despite the cutbacks and search for savings, many organizations continue to invest in technology projects and accelerate their digital transformation initiatives. However, even with the economic slowdown coupled with pandemic-related uncertainties, organizations that have performed well during 2020 are looking to increase resilience by reducing risks and demanding shorter ROI periods on investments.
That said, the key to maximize ROI is preparation. It is essential to know that you’ve selected the right solution and are ready for implementation. Several surveys done in the past suggest that the software chosen is rarely the reason for any IT project’s failure. And a few leaders even agree with this, revealing a lack of investment in preparation, project management, and implementation. Even the simplest of IT systems require some amount of work to install and configure. So, the more complex your environment is, the more careful you will have to be.
Key factors to consider while developing a technology strategy to improve corporate performance are:
Investment profile: Your management team must identify your IT investment percentage (allocated to build significant capabilities) versus the foundational investment. Ideally, foundational investments should not be more than 40% of the total annual investments.
Organization focus: You must identify whether a significant portion of your internal resources aims to drive innovation or growth. Also, find out if you have the proper operating processes in place to drive these investments.
Tenure: You will have to figure out if your workforce has the right experience and skills to achieve the target.
Investment economics: Move over traditional measures and instead identify newer ways to evaluate your projects and investments.
A few technologies worth investing
Following are some of the technologies worth investing in the present business scenario:
- Artificial Intelligence (AI)
- Internet-of-Things (IoT)
- Self-driving technology
- Streaming media
Tips for getting maximum value from technology investments
To get maximum value from your technology investments, you should:
- Be prepared with clear objectives and outcomes. You must ensure that your vision aligns with that of the new technology vendor.
- Ensure that you have people, processes, and governance for leveraging the technology when deployed, reducing the time to both value and ROI.
- Identify and assess your data sources’ quality to develop appropriate metrics for accuracy and completeness of data and check for any improvements.
- Invest in the implementation and system or process integrations to make sure they are carried out successfully. If you are using any third-party service provider for the implementation, ensure that you hire a reliable and trained team like Fingent.
- Identify users and key stakeholders and invest in their time to maintain the system.
- To reap benefits early in the project and demonstrate the value of initial investments, take a phased approach. Phasing could be by business unit, geography, or environment depending on the organizational structure and business goals. This will ensure that the project is manageable.
- Provide both initial and ongoing training in phases to allow end-users to familiarize themselves with the features and functionalities they have learned about before undergoing further training. That said, make sure the new users are also appropriately trained.
- Ensure that third-party consultants have completed their vendor training or certification programs before allowing them to use your tools. Also, check if you are using the latest version of the tool. If needed, arrange for additional training.
Be smart with your tech investments
With technology and digital transformation becoming more pervasive across all industries, technology investment can make a huge difference in winning or losing a business. By focusing on the tips discussed in this article, companies can maximize value from their technology investments.
Technology wins only if it can appease users. A bad customer experience forces the customer to switch from vendor A to vendor B. Not only should you identify and invest in the right technology, but make an emotional connection to craft human experiences that drive customer satisfaction and differentiate you from your rivals.
Fingent helps you make a fortune out of tech investments by helping you leverage the latest technology trends. Our business technology consulting services focus on helping businesses tackle technology problems, attain business objectives, and derive value from tech and IT investments. Chat with an expert to learn more.
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Is custom software poised to fulfill business needs in 2021?
From small firms to established companies, the COVID-19 pandemic has forced businesses and leaders to embrace digital transformation. Businesses are spending more on custom software solutions to ensure smooth workflow as they switch their operations to virtual workspaces. Custom software development and mobile application development have become inevitable for business growth and success. As technology advances, intelligent interfaces and highly intuitive cognitive capabilities transform businesses in unimaginable ways.
Custom software solutions appeal to tech leaders and companies of all sectors globally. In today’s dipping economy, software development companies like Fingent help businesses restart or rebuild what they lagged with custom software solutions.
What is a custom software solution?
A custom software solution is the best response for both clients and customers to adapt to the new normal. Currently, many organizations are allowing their employees to work from home, thereby limiting physical interactions. Such organizations adopt customized software applications tailored for specific use by their employees. Remote working software tailored to meet specific workplace requirements and maintain privacy without affecting the workflow allows businesses to better serve their customers.
Simply put, custom software development involves designing, developing, implementing, and managing a particular software application used by a specific set of audience, functions, or organizations.
A software development company first analyzes the business and its product requirements to develop customized scalable, dynamic, and cost-effective software solutions. It helps meet the needs and preferences of the customers, clients, and the organization at large.
The new normal is making it difficult for businesses to obtain a competitive edge, so they resort to custom software applications rather than off-the-shelf software development. Thanks to these tailor-made solutions, work is becoming easier and enabling businesses to take a step ahead.
What is the difference between custom software and commercial software?
Custom software solutions are designed and built to adapt to the changing market demands. Off-the-shelf software allows businesses to adjust to their expertise. Commercial off-the-shelf applications come pre-packaged and are purchased by enterprises to carry out their tasks. Custom software enables you to retain only the features you use and supports scalability in the future.
Why do businesses need custom software development services?
Custom software solutions are one of the best ways for businesses to survive in today’s uncertain market. Moreover, custom software development assures that your data remains secure and confidential as there is a high amount of data security risk with off-the-shelf software. Custom software is the best option today, considering your business’s privacy, security, and accountability. As custom software is made exclusively for in-house use, the associated risks are low.
What are the benefits of custom software solutions?
1. Improves efficiency
Custom software is designed to support the specific processes followed by a business entity and its users. Hence it improves the productivity and operational efficiency of the business and its employees. By automating mundane tasks and tweaking the workflow to eliminate unwanted elements, custom software implementation adds business value.
2. Reduces integration costs
Most of the commercial off-the-shelf software fails to work with existing and legacy applications. If it does not comply, businesses will have to invest further to ensure that the prepackaged software operates with the existing infrastructure. On the other hand, custom software integrates well with the current environment and adapts to a business’s needs.
Custom software can grow as the business expands or changes. Developers can assess future requirements and incorporate them into the application. It can save costs associated with purchasing additional licenses or subscriptions of commercial applications.
Investing in custom software development increases the profitability of a business. Depending on the project’s terms and conditions, the organization that creates custom software can own it or license it or sell it to other organizations.
As you will be free of a commercial software vendor, you need not worry about price hikes for licensing and support or whether the vendor terminates a product or goes out of business. However, the business that develops and uses custom software should bear the cost of maintaining and supporting the software. So, every organization must carefully decide whether it’s better to buy or build.
Technologies and practices to consider in custom software development
Open-source indicates that the software source code is open to the public and the development community to use. For example, Microsoft, Linux, and Google. Open source can significantly improve development productivity through software component reuse and improve interoperability by avoiding proprietary architecture.
2. Artificial Intelligence (AI)
Artificial Intelligence allows the software to replicate human decision making and learning. It can enhance the development process. For example, natural language processing (NLP) is used to analyze requirements from elaborate texts and recommends improvements based on best practices. AI technologies such as machine learning and modeling may also be incorporated into applications through application programming interfaces (API) and cloud services.
3. Blockchain technology
Developers are leveraging open- source hyper ledger technology and blockchain ledgers to build new types of secure transactional and financial applications that can boost business processes.
4. Cloud-based development
It brings the advantages of cloud computing by hosting development environments in the cloud. It supports design, coding, integration, and other development functions to build on-premises and cloud-native applications. These environments also promise cost control, speed, and on-demand convenience.
5. Mobile application technology
With the customers’ buying behavior shifting from products and services to experiences, mobile application technology is a must. So, developers have to connect mobile apps with data to improve and enrich the user experience.
6. Analytics technologies
These technologies enable software applications and their users to understand data through dashboards, visualizations, and predictive capabilities. AI, cloud-based services, and automation make it easier to incorporate analytics into applications.
The health crises and economic uncertainties brought in by the COVID-19 pandemic have compelled businesses to adopt solutions tailored for use by their employees and customers. So, opting for custom software solutions is a wise decision as they can be customized to suit your business needs.
While the initial investments seem a bit high, custom apps will get you a higher ROI in the future. If you are looking for a custom software solution for your business, all you need to do is select a trusted and reputed company like Fingent. We first understand your requirements and help preserve your accountability in the market. To know more, please don’t hesitate to get in touch.
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How AI is transforming businesses worldwide
Post the PC and the dot-com revolution, the world is witnessing another significant disruption- Artificial Intelligence.
Businesses that implement AI applications will have better access to data across multiple functionalities such as customer relationship management, enterprise resource management, fraud detection, finance, people operations, IT management, and other crucial segments. AI helps businesses find solutions to complex problems in a more human-like way and automate processes. Organizations can redirect their resources towards more creative aspects such as brainstorming, innovating, and researching.
The COVID-19 pandemic required solutions in days, not weeks or months, and business leaders needed to act quickly. AI-based techniques and advanced analytics are helping organizations augment decision making during crises like the coronavirus. While machine learning models were a great choice, developing machine learning models or advanced analytical models would take around four-eight weeks. So, the pandemic accelerated the demand for developing minimum viable AI models quickly.
Despite the many naysayers who believe robots will take over human jobs in the future, AI is already revealing itself as more of an enabler than a disruptor. Here are nine examples of artificial intelligence transforming business.
1. Sales and business development
As lockdowns and stay at home orders continue, people are now moving from personal interactions to digital interactions such as online shopping and mobile banking. This shift has created many new and unstructured data that is hard to interpret. That’s where AI comes into the picture and helps understand what consumers feel and need.
AI-powered sales performance solutions can identify which customers are most likely to buy a company’s product or service. This model will help people in sales prioritize their customers and improve their productivity and effectiveness.
2. Demand and Supply
Most companies are interested in matching demand and supply. For instance, a steel company may have information about various factors that may influence steel demand. Typically, these demand measures depend on external data to match up with what the company’s supply chains can generate.
AI solutions help analyze these external data and ensure that the company is not producing more than you need to satisfy the demand and not leaving any request unfulfilled.
COVID-19 crisis is unprecedented, and companies have to make sure that they use data that is representative. Historical data allows you to gain insights into upcoming demand patterns and predict possible outcomes.
3. Back-office tasks
Companies can leverage AI-powered cognitive assistants to perform their back-office tasks such as ordering new credit cards, canceling orders, or issuing refunds. If these assistants cannot handle complex tasks, human assistants can perform those tasks. It will ensure that the team members spend their time solving challenging problems and focus on productive activities.
As long as there are structured tasks, Robotic Process Automation can take care of back-office service operations. RPA is particularly useful for automating the claims processes of banks or insurance companies. Enterprise platforms like SAP offer Intelligent RPA that combines automation and artificial intelligence to augment business process automation.
4. Cash-flow forecasting
As revenue systems dry up, cash flow is likely to be a severe concern for smaller businesses. However, several AI solutions can analyze data (only if representative) for cash-flow forecasting.
5. Document and identity verification
AI can identify and verify documents easily. For example, think of a bank that needs to verify customer data for onboarding and compliance. Human agents manually verify documents such as driving licenses or payslips and other relevant records. It is a costly and inefficient process.
AI is used to identify the type of ID document captured, perform face-matching, determine if the ID’s security features are present, and even determine if the person is physically present.
6. Travel and transportation
The transportation industry forms an integral part of a country’s infrastructure. As many employees may have to self-isolate during the COVID-19 crisis, AI solutions can analyze the number of staff needed by a travel company to run its business in these unprecedented times. For example, a company can request AI to provide information on whether they have enough workers to staff a railroad. Here, AI can help identify demand and supply from the laborers’ standpoint.
AI is already being used in the transportation industry to reduce traffic congestion, avoid accidents, improve passenger safety, lower carbon emissions, and reduce overall financial expenses.
From robot-assisted surgeries to safeguarding personal records against cybercrime, Artificial Intelligence is transforming the healthcare industry like never before. The healthcare industry has suffered in terms of medical costs and inefficient processes.
AI-enabled workflow assistants are helping doctors free up 17% of their schedule. Virtual assistants are reducing redundant hospital visits, thereby giving nurses almost 20% of their time back. Also, AI helps pharmaceutical companies research life-saving medicines in a shorter time frame and reduce costs. More importantly, AI is being used to help improve healthcare in underdeveloped nations.
Read more: 7 Major Impacts of Technology in Healthcare
Examples of AI in healthcare:
- PathAI creates AI-powered technology for pathologists to help them analyze tissue samples and diagnose them more accurately.
- Atomwise uses AI and deep learning to improve drug discovery and to speed up the work of chemists.
- Pager is using artificial intelligence to help patients with minor pains, aches, and illnesses.
The financial sector relies on real-time reporting, accuracy, and processing of high volumes of quantitative data, where AI can enhance the processes. The finance industry is rapidly implementing chatbots, automation, algorithmic trading, adaptive intelligence, and machine learning into financial operations. For instance, Robo-advisor, an automated portfolio manager, was one of the biggest financial trends of 2018.
A few examples of how artificial intelligence transforms the financial industry:
- Betterment uses AI to learn about an investor and create a personalized investor profile based on their financial plans.
- Numerai is an AI-powered hedge fund that uses crowdsourced machine learning from many data scientists worldwide.
9. Social Media
With over 3.6 billion active profiles and about $45 billion in annual revenue, social media is invariably in the battle to personalize and provide a better experience for users.
AI can organize massive amounts of data, recognize images, predict shifts in culture, and introduce chatbots. The technology has the potential to make or break the future of the social media industry.
Similarly, machine learning enables social media to identify fake news, hate speeches, and other anti-social activities in real-time.
With the advancement in technologies, AI is improving possibilities taking businesses to the next level. These examples of artificial intelligence prove that artificial intelligence can transform business models if deployed correctly.
Case Study: Development of AI-enabled chatbots and teaching assistants – How Fingent helped a leading university to create an Automated Intelligence-driven ecosystem
Fingent helps you leverage AI to drive the smart reinvention of your business workflows, processes, and technology. If you are looking to develop an intelligent infrastructure for your business or improve the security process or enhance the customer experience, contact us today!
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In Conversation with Stephen Cummings, SVP, InfinCE
InfinCE represents the next phase of cloud for enterprises. Being a progressive approach to running IT, InfinCE democratized the cloud enabling businesses of all kind to leverage its possibilities. Unveiled at the 2018 Small Business Expo, InfinCE marks a shift in “untangling technology”, which simplified how businesses utilize the cloud for refining their processes and operations. InfinCE delivers a secure cloud model that encompass all the essential IT requirements of enterprises.
As a radically different enterprise cloud system, InfinCE really invoked my curiosity to know more about its simplified cloud model. Stephen Cummings, the Senior Vice President of Business Development at Fingent Corporation was earnest enough to spare a little time from his busy schedule and give me a firm background about InfinCE in accordance with the questions that I presented. He elaborated on the features and functionalities of InfinCE, which got me well informed of the capabilities of this platform.
Thank you, Stephen, for your time. Let us begin this short interview with a brief description of what InfinCE is about.
So, can you tell us a bit about InfinCE and who is it aimed at?
Up until now, cloud technology has been structured for use by, and marketed to, a technical audience of developers and IT professionals in large corporations. We developed InfinCE to both simplify how businesses get the software and related support and to dramatically lower their IT-related costs. By building upon the latest developments in cloud-based systems, and incorporating available open source software, we have been able to pull together the things a small business needs to have a secure, modern IT infrastructure – from a company website and mail server to full-featured enterprise software and desktop tools.
InfinCE is the new way for small businesses to run IT.
Business owners don’t have time to learn about digital tools or to manage them, and they don’t have money to waste. We give them high-value technology options that are intuitive and affordable. Our concierge support services are at hand whenever there is a technical question or concern.
What led you to develop a cloud platform like InfinCE?
Survey after survey showed that a large percentage of small businesses were not taking advantage of technology that would help them significantly improve their ability to serve their customers. In today’s internet-focused world, their lack of technology puts them at a serious disadvantage to their more nimble competitors. Many companies were discouraged from using existing open-source software, which, though free of cost, did require technical knowledge to get set up.
At the same time, we knew that new developments in cloud and communications technology were making it possible to deliver solutions for them in a completely new way. For open source specifically, we knew if we could automate the setup process, a further barrier to its use would be eliminated. What we were able to do is to make software set up a “one-click” process and to do the same for support services.
Business owners can not only get up and running easily and quickly, but they can do so without anxiety because they can easily use a “life-line” to have someone knowledgeable lend a hand.
Yes, technical complexity and jargon are preventing businesses from adopting the technology. In view of that, can you elaborate on the challenges that you came across while developing this platform?
To make a system both powerfully featured and easy to use meant we had to meet a number of design challenges. How could we make the setup fast and automatic, even for business owners who may not be very technical themselves? How can we make it easy -whether a business owner is technologically intrepid or not – to leverage the options that make sense for their business?
How can we make application software developed by many independent developers work well together? How can we accommodate a flexible and economical infrastructure that works for simple or complex applications, and for small or large companies?
How can we make the user have a friendly experience, for example with a “single-sign-on” capability across all applications? How can we give users an even more secure system than is typical?
With data privacy and security featured again in the news, how much protection does a business cloud platform like InfinCE offer to businesses?
We have given a lot of focus on data security as it allows people to build trust within the application and its information – which is one of the most important factors. Every customer’s data is hosted on a separate secure virtual server. Our secure servers and SSL built for applications ensure that there is no information that is being tracked or eavesdropped by any external entities.
How much relevance does cloud computing have in today’s business environment? And where does InfinCE fit in this environment?
In today’s business environment, a business owner needs to have access to her data right when she needs it, irrespective of her location or geography and the device she is accessing it from. This is what cloud computing provides – an access to one’s business data at any time and anywhere you have an internet connection. Apart from this obvious benefit, cloud computing also improves scalability, business continuity, collaboration efficiency and reduces cost. So yes, cloud computing is going to be here for the foreseeable future.
Cloud computing is an umbrella term for different types of cloud services, that include SaaS, PaaS & IaaS. InfinCE can be considered as an IaaS service as we provide the servers, storage, and networking hardware, as well as the virtualization layer. On top of that, we also leverage SaaS to offer a plethora of tools and applications that will cover all the technology needs of an SMB. InfinCE is thus a unique combination of IaaS and SaaS to cater to all the IT needs of a small business.
Will InfinCE’s concept of cloud management for businesses lead to a better form of managing and optimizing business processes?
InfinCE is an IT solution for SMBs. A small or medium business owner needs technological solutions for a variety of business needs, but may not have an IT budget that is large enough to afford the top of the line enterprise software solutions. On the other hand, we have a lot of feature-rich Open Source software that are competitive alternatives to Enterprise Software.
The challenge here is that installing, customizing and setting up an Open Source software requires technology experts in the team. Off the shelf SaaS products will need the employees to access various products through multiple channels with multiple logins, with no single source for all of the business data.
InfinCE is a solution to this problem. We are constantly integrating good quality Open Source and third-party tools into our App Marketplace. With a few clicks, an InfinCE customer can add the desired App to his InfinCE Workplace.
The new software will automatically be integrated through Single Sign-On, becoming part of their IT system. This ease of plugging in business apps on demand makes InfinCE a powerful IT solution for SMBs.
What are the potential benefits that small and medium businesses can derive from using InfinCE?
In terms of setting up Small & Medium businesses, the ability to collaborate with their internal team and carrying out business activities has substantially improved and can be managed accurately using InfinCE — which no platform provides. Going further, different departments within a company can be micromanaged and this increases transparency by also allowing user restrictions across InfinCE.
Security is another key area that benefits our customers, as nowadays the emails, files that we share travel through various servers before reaching us, and there can be eavesdropping and privacy can be at stake. We provide servers that are managed by us to send emails and fresh dedicated email servers can also be bought at a very less cost.
How do you envision the future of InfinCE and what new improvements and upgrades will be implemented in this solution in the coming times?
InfinCE stands for “InfinCE Cloud for Enterprise” and that’s the vision driving us. By continuously integrating more and more applications in our App Marketplace and innovating our cloud solution, we aim to arm SMBs with the latest technology and tools. The business owners can concentrate on growing the business while we take care of their IT. Our work never stops!
Compared to other enterprise cloud platforms, what specific features have you included in InfinCE to make it a popular dependable platform?
Compared to other enterprise cloud platforms, we are providing one-of-a-kind platform wherein business can access numerous Open Source applications, with a Single-Sign-On option to effectively run their businesses. Apart from that, all the servers, hosting and basic support for Open Source applications are offered by us and an extremely affordable cost and is secured. Our features, costing, and level of services have been brutally transparent and there have not been any hidden costs involved which sets us apart from our potential competitors.
Does the extended storage options given at InfinCE come in specific tiers?
We prescribe a minimum of 2GB storage per user. Additional storage can be bought from a minimum of 10GB upwards. The real benefit for InfinCE customers is that they are in control of how the storage is allocated across the users. The business owner is free to do a differential allocation of the extended storage across users, as per individual requirements.
That indeed provided me with some in-depth information about InfinCE. In a way, the open accessible cloud model that you envision clearly does have much larger potential in the coming years. Deep down, I do believe in the same thing, which is that all businesses should be given the means to utilize technology to their advantage.
By creating a platform like InfinCE, Fingent Corp has indeed opened the doors of the cloud to businesses of all kind, so that they could remain technologically competitive and productive. Thank you, Stephen, for granting this interview and wishing the very best for all your ventures.
To learn how your enterprise can benefit from custom-built business applications, get in touch with our experts today!
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Identifying 7 Common Mistakes in Tech Projects
As a non-tech business, you are an expert on the product or service that you are selling. That is your core competency, not information technology. Still, some businesses feel they can do it themselves. That could cost you a lot more than you think. Technology by nature is like a moving target and pinning the best technology solution requires quite a bit of work. Treating tech projects as an afterthought is a mistake that non-tech businesses make far too often. Worse yet, those mistakes can stall the growth of your business. Avoiding tech mistakes, especially the high impact ones, will be the thing that ensures the success of your business.
What are the 7 deadly mistakes non-tech businesses make on tech projects and how you can avoid committing those mistakes? This article will help your company navigate the complex and confusing world of technology.
Mistake #1. Skimping on Security
Most small businesses might conclude that their business isn’t that big to become a target for hacks and data theft. Unfortunately, security has become the number one issue even for small businesses with increased online scams, software vulnerabilities, and networks using improper architecture. Can you imagine the impact on your business if your trade secrets, customer information, HR records, and confidential communication fell into the wrong hands!
One of the top security risks most businesses often ignore is the failure to encrypt their emails. Some discard email encryption either because it is costly and complicated, or because they feel that the threat is insignificant. You can prevent much pain and loss by encrypting your emails. Always assume that every email you send could be intercepted by unethical hackers.
Try this: Set up an email encryption system to protect all your emails and their attachments.
Mistake #2. Patching New Software On Old Hardware
Most often than not software publishers release new upgrades that require a significant hardware upgrade in order to run the newer version. Many businesses purchase the latest version of the software without considering its hardware requirements. The use of old computers and their hardware can be problematic since these devices generally lack the latest features, hang too often, and are slower at common tasks like launching the application, booting up, printing, and internet search. This can result in a failed upgrade and can bring your business to a screeching halt until new hardware can be put in place or until the old version is reinstalled.
Try this: Before you purchase an upgraded software, check the minimum system requirements needed for the software to run smoothly and ensure that your existing system meets those standards.
Mistake #3. Skipping The Planning Phase
Planning for IT may seem tedious and time-consuming especially when you have so many things to get done with the running of your main business. However, it is vital that every business, big or small, must plan out their IT initiatives at least once a year. Failing to map-out your technology path can impact your entire business. You must plan your budget for new software and hardware upgrades while considering the need for additional manpower and/or technical support. Planning ahead will ensure business continuity and will spare you from unanticipated problems and setbacks when something fails.
Try this: Decide on a particular month of the year for taking stock and planning your IT structure and requirements.
Mistake #4. Inadequately Trained Employees
Some of your employees may understand technology, perhaps because they had some experience with it formerly or just because they are tech geeks. This is by no means enough to put them on the job to handle tech requirements. One of the most common mistakes that many non-tech companies commit is to try to get the job done with employees who are not adequately trained to use the technology they have at work. There is no alternative to training, it is an absolute must for business growth! Forgoing on the training of employees may render well-intentioned purchases useless and result in a massive loss of ROI. By training your employees you can lessen the likelihood of mistakes and improve overall productivity.
Try this: Take the “train the trainer” approach with your software provider. It is cost-effective and helpful.
Mistake #5. Ignoring Reliable Backup And Disaster Recovery
Businesses today are reliant on their records and data, which are almost completely stored electronically. It is extremely dangerous to assume that your backup system is working properly. A sudden power outage or a server crash can delete all your data within seconds increasing your downtime and the expenses that accompany it. It is a good practice to back up a test directory, erase it, and then do a test restore to ensure that your backup device is working. Also, ensure that the proper data is backed up.
Try this: Have a right backup solution and disaster recovery procedure in place.
Read more: COVID-19- Ensuring Continuity and Building Resilience- How business leaders can respond, survive, and thrive in the new normal
Mistake #6. Not Leveraging Cloud Computing
Most businesses either embrace cloud inconsistently or treat it as an unnecessary expenditure for their tech projects. Cloud computing has emerged as the most efficient platform for businesses than on-premise counterparts. This is because it makes it possible for employees, customers, and other authorized users to access the data at any time from any place. In most cases, cloud-based applications offer greater functionality and are less expensive. Cloud computing is more secure than an in-house computer operation that may lack proper antivirus solutions, firewalls, or backup systems.
Try this: Prepare a cloud strategy and as soon as possible, consider moving some of your applications and data to the cloud.
Mistake #7. Ignoring Preventive Maintenance
The most common mistake made by businesses on tech projects is the “repair when it crashes” strategy for IT infrastructure. While it may not hurt too much on some issues, can you imagine your 10-year-old server crashing! Now that could cripple your business. If your mission-critical hardware crosses its shelf life as it were, it is time to consider replacing it well before it actually crashes. Just like your automobile, IT software and hardware require regular maintenance and adjustments. Both the software and servers need continued care to perform at optimal levels.
Try this: Avoid overextending the life cycle of servers. Start planning to replace it well in advance. Look for the manufacturer’s instructions on MTBF (mean time between failures) for your equipment.
Don’t Make a Costly Mistake
As a business, you are constantly juggling multiple roles and duties to ensure that everything runs smoothly. Too often, the panic call comes after a technology mistake has been done already. It is crucial to remember that a single mistake could lead to catastrophic loss of data that your business may never recover from. Don’t take chances with your business. Get our experts to help you make those tech decisions and implement them smoothly. Give us a call and let’s get talking.
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What are the different types of software applications in vogue today?
- Definition of Software
- System Software and Types of System Software
- Application Software and Types of Application Software
- Functions of an Application Software
- Future of Software
Software program(s) is to a computer what an orchestra conductor is to a symphony. They tell the computer what to do and how to do it in perfect harmony. A computer needs different types of software to perform various tasks ranging from the simplest of tasks like greeting us when we switch on the system to running complex gaming systems that require some serious programming skills. System software can bring in business benefits including, increased productivity, informed decision-making, more reliable data, improved data security, enhanced analysis, better customer service, and increased sales potential.
We have all come a long way from the computers of old that had just one software, which was installed onto individual machines from floppy disks and CD ROMs. We now have multiple categories of application software to suit every need and purpose. While that is wonderful, it also places before us an array of choices. You may be wondering which of these categories of software fulfills the needs of your business. To help you with this, here is a detailed guide by Fingent, a top software development company to understand the types of software and categories of application software.
Let us begin by understanding the definition of what software is.
Definition of Software
Software is any computer program that enables you to perform certain specific tasks on your computer. It directs the function of all the peripheral devices of the computer, including your mouse, hard drive, monitor, and keyboard, etc. Without software, it would be impossible to operate the hardware. A software comprises two major categories: system software and application software.
System Software and Types of System Software
System software is the interface, or the intermediary. It lets you communicate between the other software and the hardware. There are five types of system software. These are intended to control and coordinate the functions and procedures of computer hardware and, thus, streamline the interaction between software, hardware, and the user.
Types of system software:
- Operating system (OS): It is a system software kernel that is installed first on the computer to allow applications and devices to be identified and become functional. Being the first layer of software, it is loaded into memory each time a computer is powered up. Some types of operating systems are real-time OS, single-user and single-task OS, network OS, and mobile OS.
- Device drivers: These bring computer devices and peripherals to life. Device drivers connect components and external add-ons so that they can perform their intended tasks. Without the driver, the operating system would not assign any duties. The mouse, keyboard, speakers, and printer are a few examples of devices that need drivers to function.
- Firmware: It is the operational software embedded within a ROM, flash, or EPROM memory chip for the operating system to identify it. It manages and controls all the activities of a single hardware directly. Firmware can be upgraded easily without swapping semiconductor chips.
- Programming language translators: These are intermediate programs used to translate high-level language source code to machine language code. Popular language translators include assemblers, compilers, and interpreters. They may be used to perform complete translation of program codes or they may translate each instruction one at a time.
- Utilities: It is intended for diagnostic and maintenance tasks for the computer. Their tasks may range from crucial data security to disk drive defragmentation.
Application Software and Types of Application Software
Application software is a computer program that performs a specific function, be it educational, personal, or business. It is also known as an end-user program or a productivity program. You can think of system software as a cake and the application software as the frosting on top of it. It is the application software (frosting) that you, the user, get to see upfront when you are working with that software.
Each of the computer application software programs is developed to assist you with a particular process that may be related to creativity, productivity, or better communication. It helps you in completing your tasks, be it jotting down notes, completing your online research, setting an alarm, keeping an account log, and even playing games. Unlike system software, computer application software programs are specific in their functionality and do the job that they are designed to do. For instance, a browser is an application used specifically for browsing the Internet. Similarly, MS PowerPoint is an application designed specifically for making presentations. Application software is also termed as a non-essential software. As we saw in the analogy of a cake and its frosting, its requirement is subjective and its absence does not affect the functioning of the system. All the apps that we see on our smartphones are examples of application software.
Picking up the right application for personal or business use can improve function and efficiency. If you do not learn about your options, you may end up with something that does not benefit your business, which will cost you time and resources and affect your productivity. Knowing what types of application software are available to you will help you make an informed decision.
The application software list includes:
- Word processors
- Graphics software
- Database software
- Spreadsheet software
- Presentation software
- Web browsers
- Enterprise software
- Information worker software
- Multimedia software
- Education and reference software
- Content access software
The categories of application software you are required to use depends on your needs, some of which are detailed below:
1. Presentation software:
Presentation software enables you to put forth your thoughts and ideas with ease and with good clarity by using visual information. It lets you display the information in the form of slides. You can make your slide more informative and more engrossing by adding text, images, graphs, and videos. It has three components:
- Text editor to input and format text
- Insert graphics, text, video, and multimedia files
- Slideshow to display the information
2. Web browsers:
These software applications are used to browse the Internet enabling you to locate and retrieve data across the web. The most popular ones are Google Chrome and Internet Explorer.
3. Multimedia software:
This lets you create or record images, and create audio or video files. This software is extensively used in animation, graphics, image, and video editing. Popular examples are the VLC media player and Windows media player.
4. Education and reference software:
This application software, also termed as academic software, is specifically designed to facilitate the learning of a particular subject. Various kinds of tutorial software are included in this category. Some of these are JumpStart titles, MindPlay, and Kid Pix.
5. Graphics software:
Graphics software allows you to edit or make changes in visual data or images. It comprises illustration and picture editor software. Adobe Photoshop and PaintShop Pro are a few examples of graphics software.
6. Spreadsheet software:
Spreadsheet software is used to perform calculations. In this software, data is stored in a table format. The intersecting area, called cells, are separated to define fields such as text, date, time, and number. It allows users to provide formulas and functions to perform calculations. Microsoft Excel is one good example of spreadsheet software.
7. Database software:
Database software is used to create and manage a database. Also known as a DBMS (Database Management System), it helps you organize your data. So, when you run an application, data is fetched from the database, modified, and is stored back in the database. Oracle, MySQL, Microsoft SQL Server, PostgreSQL, MongoDB, and IBM Db2 are some popular databases.
8. Word processing software:
It is used to format and manipulate text, thus, creating memos, letters, faxes, and documents. Word processing software is also used to format and beautify the text. It provides you a whole lot of features aside from thesaurus and synonyms and antonyms. Along with Word Art features, the font option lets you change font color, effect, and style as per your choice. Grammar and spell-check options are also available to check for errors.
9. Simulation software:
Simulation software is used in the fields of engineering, education, testing, and video games, etc. It is used where work on the actual system is unacceptable, inaccessible, or maybe dangerous. It is a program that lets you study or observe an operation, or phenomenon through simulation without actually doing that operation. The best examples of the simulation are in the field of robotics, flight systems, and weather forecast, etc.
Apart from these, there are several others in the category of application software that serve specific purposes.
However, application software can also be classified based on their shareability and availability. Some such categories are:
As the very name indicates, it is available free of cost. You can download it from the Internet and use it without any fee. However, this software does not allow you to modify it or charge a fee for distributing it. Adobe Reader and Skype are good examples of this software.
This is distributed freely to the users on a trial basis, usually with a limited time offer. The users are expected to pay if they want to continue to use the software. Some examples of shareware are WinZip and Adobe Acrobat.
12. Open source:
This type of software is available along with the source code that allows you to modify the software, and even add features to the software. These could either be free or paid. Moodle and Apache Web Server are some examples.
13. Closed source:
Most of the software packages that you use belong to this category. These are usually chargeable and have intellectual property rights or patents over the source code. It usually comes with restricted use.
Functions of an Application Software
Application software programs are designed to facilitate a large number of functions. Some of these include managing information, constructing visuals, manipulating data, coordinating resources, and calculating figures.
Future of Software
The world is becoming increasingly computerized. With that growth, different types of application software will continue to evolve. Several software applications are being created as it is a great financial option for the users as well as the creators. The demand for custom software development, tailored to the requirements of a business is increasing now more than ever before. From simple customizations to full-cycle software development, Fingent helps address all your specific business requirements, leveraging our software development capabilities.
If you have further questions or want to get started on choosing and implementing the right software for your business, give us a call and we will help you get there.
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Concerned about app development costs? Here’s all you need to know!
There will be more people with access to smartphones in 2021 than with access to running water! Well, then there’s no questioning the fact that app development has become the need of the hour to capture the huge rapidly growing market. Investing in app development is valuable to establish yourself as an authority in your industry. As much as you would like to build an app, you might have many queries. One most pertinent question is: How much does it cost to create an app? This will be answered in detail in this blog.
How much does it cost to create an app?
Some people think that creating an app requires a gigantic investment and that the cost of app development is an expensive affair. The truth is, not all types of apps require a princely budget. There is a lot of thought and work that goes into building an app from scratch, so the cost may vary. But looking into what is involved will help us make a fair estimate.
It is important to understand that the cost to build an app depends on various factors like the type of app, the platform you choose, the design, and the number of pages required. For instance, an app that doesn’t require back-end features like an email subscription, calendar, or social login, and API integration will not need a huge budget. On the other hand, multi-lingual support, custom features, and real-time updates will need resources in terms of the development budget. Each app is unique and the cost of making an app is based on the time and effort required to build an app.
HackerNoon rates Fingent in the Top 20 when it comes to Mobile App Development Services. Our mobile team has years of experience working with a range of cost-effective mobile application projects. We’ve helped some of the world’s biggest companies create applications to enhance user experience and integrate new-age technologies.
What Are Some Major Factors That Affect the Cost to Build an App?
Let’s look at some of the specifics that we need to consider, that may affect the cost of building an app.
1. Functionalities, Scope, And Features of the App
The cost of building an app is going to depend on what you are trying to accomplish. Determining that will give a measure of clarity to the scope of the project. If the business is looking forward to a broader scope and returns from the app, it will have to be extensively developed with many functionalities. However, if the purpose of an app is to just establish a mobile presence and develop another channel to connect with end-users, then a limited feature app would suffice. When the goal and overall business purpose is clear to the development team, they will be able to accurately estimate the cost of developing an app.
Read more: Mobile App Development: 4 Tips To Consider
2. Number of In-App Pages
Another vital factor that determines the cost of building an app is the number of screens in the app. The more the number of screens, the more extensive the work required from the designers and UX experts. More screens would also mean higher interlinking of pages through the app, which requires adjustment of conditions so that users can easily access any particular in-app page. Such complex apps demand more time and effort from app designers and developers.
3. Platforms and Devices
The complete cost of developing a native app for a specific platform is different from developing a hybrid app that runs on multiple platforms and devices. Further, the app development cost also depends on the type of device the app is developed for.
Making an app for devices running on Android, iOS, Windows, or Blackberry needs different sets of integration for each type of device. Additionally, supporting different generations of the same device can be another factor that increases the cost of building an app. iOS apps will need to be built to support the latest as well as previous iOS versions. The complexity of the Android market adds to the difficulty in determining a single standard cost of developing an Android app.
4. Type of App Development Team
Based on the complexity of the project, the app development team may comprise a project manager, designer(s), developer(s), and quality assurance engineer(s). You also have the choice of opting for a basic team with a backend developer, admin panel designer, Android or iOS developer.
5. Elements of App features
- Third-party integrations: Mobile apps require third-party libraries, frameworks, and services.
- Backend development: Backend implements the app’s business logic enabling the exchange of data between the mobile and database.
- Hardware components: Identifying the right approach for communication between hardware and software components will make a difference in the cost of building an app.
Apps that allow end-users to upload videos, photos, and submit comments or reviews take more time in development. This would increase the complexity of an app because the user’s information must be stored and made available for future use. Obviously then, the app development cost and time for database-driven apps would be more.
7. Post-launch Expenses
The total cost of creating an app includes the money spent on actual programming as well as post-launch maintenance and updates like cloud hosting, backend server maintenance, and app marketing.
8. App Type
Choosing the right type of application for the project will have a massive impact on the overall cost to create an app. Apps can be categorized as:
- Web Apps: Web apps use a responsive design for smooth user experience across various screen sizes and operating systems.
- Native Apps: Native apps could be more expensive because they are optimized for high performance on a specific platform.
- Hybrid/Cross-platform Apps: This approach is best suited for the needs of a large audience across different platforms. The development and maintenance costs of this approach are lower when compared to the other approaches.
9. License and Legalities
Businesses that want to protect app features that could be knocked off by competitors may want to obtain a Patent, Copyright, or Trademark which increases the cost of building an app.
10. Support and Maintenance
Adding new features and refining existing features of the app will cost you. This is unavoidable because technology is constantly changing, and new updates will have to be made for your app to function seamlessly.
Are you ready?
As of August 2020, there are 3.50 billion smartphone users in the world. As mentioned in the outset, Cisco Visual Networking Index Global Mobile Data Traffic Forecast says that there will be more people with access to smartphones in 2021 than with access to running water. Additionally, App Annie forecasts that consumers will be willing to spend a staggering $157 billion on mobile apps by 2022, an increase of 92% from 2017. Now, these numbers should leave you with no doubt that you must make full advantage of this trend by building an app for your business.
However, having a great idea for an app is one thing but making it available to end-users is another. This guide detailed the cost of making an app, with varying features, technologies, platforms, and more for you to make an informed decision, but if you have any questions or you want to get started on building that app, give us a call.
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Fingent recognized as the Top PHP Development company by the TechRivewer.
Immense expertise, constant innovative thinking, and deep market understanding make the perfect blend to remarkable excellency. Proclaiming these qualities, Fingent yet again outruns its way to rank the Top PHP Development Company in 2020.
PHP is the most common programming language used in web development today. Be it the simplest applications, or the most advanced ones like Drupal, vBulletin, MediaWiki, or be it the most popular WordPress. Everything works on PHP today. And so it becomes imperative for businesses to find and rely on the right PHP development providers for best services.
Research and review hubs like TechReviewer makes it convenient for businesses to select from a vast pool of development companies. Analyzing through their capabilities, success stories, and client reviews, TechReviewer helps businesses connect with the right technology partners by compiling lists of the leading software outsourcing companies.
Fingent, a web development company that has proved its worth by delivering upscale web solutions to clients across the globe, is recognized by the brand-new research & analytics agency, TechReviewer.co, as the Top PHP Development Company in 2020.
With extensive experience in delivering full-cycle PHP development services along with deep technology expertise, enables Fingent to hit the lists of leading PHP development firms, making it the most reliable, experienced and reasonable company to outsource software development.
Established in 2003, Fingent strives to solve complex business challenges with customized software solutions. With an active client base across 14 countries and expertise in over 20+ industries, Fingent is a front runner in catering PHP development services. Our research and development team is dedicated to analyzing products based on market trends and targeted audiences. This enables us to provide our clients with an extra edge that helps them sustain and relish the cut-throat market environment.
“We help our clients understand technology in a way that they can leverage the best tools to provide unique and innovative customer experiences. For us, it is not just providing software solutions to our clients, but to help them reshape and transform with technology.”
– Dileep Jacob, Senior Vice President, Global Operations, Fingent.
Being featured among the leading PHP development companies is indeed a great honor for us. We take this opportunity to thank our clients and partners who have placed immense trust in our approaches and services. We will continue to justify the trust with utmost dedication, expertise, and innovative business solutions.
Learn how we can help transform your business for a better future. Get in touch with our experts today to know more about our services, expertise, and technologies.
Also, read more on why Fingent Stamps its authority as a leading CodeIgniter developer of 2020.
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How is AI poised to transform our future?
“Artificial Intelligence is the new electricity. It has the potential to transform every industry and create huge economic value”, says Chinese-English scientist and entrepreneur, Andrew Ng. The impact of artificial intelligence on our daily lives cannot be overlooked. From smartphones to ride-sharing apps, smart home devices, Google search, and Social media- there is hardly any industry or sector that is left untouched by AI.
There has been a huge surge in patenting of artificial intelligence in the last few years. PwC estimates that by 2030, AI would contribute a whopping $15.7 trillion to the global GDP. Analysis by the World Intellectual Property Organization (WIPO) states that the number of AI-related patent applications rose from 18,995 in 2013 to 55,660 in 2017. WIPO Director-General, Francis Gurry says that “We can expect a very significant number of new AI-based products, applications, and techniques that will alter our daily lives and also shape future human interaction with the machines we created”.
Industries such as healthcare, automotive, and financial services were the fastest to adopt AI.
Following are a few key domains that would be impacted most by AI in the coming years:
Related Reading: How AI Integration Helps Maximize Your Business ROI
AI will transform these areas in the coming years:
The general public would widely adopt self-driving vehicles. Apart from cars, self-driving vehicles would also include delivery trucks, autonomous delivery drones, and personal robots. Commutes may shift towards an on-demand approach like the Uber-style “cars as a service approach”. Commute-time would be viewed as a time to relax or just another way to work productively. People would live further away from their homes, reducing the need for parking space. This would change the face of modern cities.
However, enhanced connectivity, real-time tracking, traffic gauging, route calculations, peer-to-peer ride-sharing, and self-driving cars would be impossible without personal user data. This calls for the need to implement more stringent measures to secure the data and privacy of citizens.
2. Home/ service robots
Robots have already entered our homes in the past fifteen years. Recent advances in mechanical and AI technologies substantiate the increasing safety and reliability of using home robots. In the foreseeable future, we can expect special-purpose robots to deliver packages to our doors, clean offices and enhance security.
We are already familiar with the vacuum cleaning robot – Roomba, which has gained its place in millions of homes across the world. The AI capabilities of these kinds of robots are being increased rapidly with drastic improvements in the processing power and RAM capacity of low cost embedded processors. Low cost and safe robot arms are being used in research labs all over the world. Further advances enabled by deep learning will enable us to better interact with robots.
Healthcare is a promising domain for the use of AI technologies. AI-based applications have started gaining the trust of doctors, nurses, and patients. By revising the policies and other commercial regulations regarding the development and usage of such applications, AI can be used to improve health outcomes and quality of life for millions of people in the coming years. Patient monitoring, clinical decision support, remote patient monitoring, automated assists to perform surgeries, and healthcare management systems are some of the potential applications of AI in healthcare.
AI has the potential to enhance education at all levels, by providing personalization at scale. While computer learning will not replace human teachers, Massive open online courses (MOOCs) will help students learn at their own pace with techniques that work for them. AI technologies such as Natural language processing, machine learning, and crowdsourcing are giving an impetus to online learning. If these technologies can be meaningfully integrated with face-to-face learning, AI will find more applications in our classrooms.
AI has already transformed this domain to a considerable extent. AI-driven entertainment is gaining huge traction and response from the masses with overwhelming enthusiasm. AI-enabled entertainment will become more interactive, personalized and engaging by 2030. However, the extent to which technology replaces or enhances sociability is debatable. More research is required to understand how to leverage these attributes of AI for the benefit of society.
Related Reading: Building Incredible Mobile Experiences by Combining AR and AI
Concerns about AI
Advances in AI have already impacted our lives. However, you may also have heard of the dire predictions regarding AI made by some of the brightest minds such as the late scientist Stephen Hawking and Elon Musk (Tesla and SpaceX chief). Pew Research Centre surveyed some 979 technology experts to find out whether advancing AI and related technology would help or harm humanity. 63% of the respondents were hopeful of a better future in 2030. Many of them said that all would go well only if the concerned authorities paid close attention to how these tools, platforms, and networks are engineered, distributed and updated.
Following were the concerns that were mentioned most often:
- Individuals would lose control over their lives due to the use of AI
- Surveillance and data systems that favor efficiency over human betterment would be dangerous.
- AI would cause millions of people to lose their jobs leading to economic and social upheaval.
- As people continue to depend on AI, their cognitive, social and survival skills would be diminished.
- Cybercrime, cyberwarfare and the possibility of essential organizations being endangered by weaponized information would open new facets of vulnerabilities.
Overcoming the concerns
Following are a few solutions to take positive advantages of AI:
- The global population should join hands and create cohesive approaches in tackling AI’s challenges.
- The development, policies, regulation, and certification of autonomous systems should undergo essential transformations to ensure that any kind of AI development would be directed towards the common good.
- Corporate and government organizations should shift their priorities towards the global advancement of humanity rather than profits and nationalism. AI advances should be aimed at human augmentation, regardless of economic class.
Nicholas Beale rightly said, “AI done right will empower.” As artificial intelligence continues to be embedded in most human endeavors, let us make broad changes for the better. Let us be more thoughtful about how these technologies are implemented constructively.
If you would like to know more about Fingent’s development and implementation approach on AI, give us a call.