“It’s becoming increasingly clear that AI is the future, and almost everything else is a sideshow.” – World-renowned computer scientist Geoff Hinton

AI has taken over almost every aspect of society. It provides a wide range of benefits that have accelerated its traction in the modern era and caused it to sink its roots deeper into society. Document processing is one of the sectors in management that has stood to benefit the most from artificial intelligence. This article will explain how to make the most of this fortuitous union.

The Use of AI In Document Processing

For years, documents have been manually created on paper or Excel sheets. Data and valuable insights from these documents have also been manually retrieved. Thus, the data approval processes require the physical circulation of files and documents. Dissemination relies on printing or electronic means, making processes more lengthy and strenuous.

Revision and editing are also conducted manually, with adherence to storage protocols for archiving purposes. Compliance and auditing necessitate the completion of reports and paperwork by hand. While these conventional procedures have been the standard practice for some time, they are prone to inefficiencies, lengthy labor hours, and data insecurity.

The use of AI in document processing has completely changed how businesses manage paperwork by providing automation, increased accuracy, and efficiency. AI technologies allow for automatic information extraction, analysis, and classification from documents. Examples of these technologies include machine learning, optical character recognition (OCR), and natural language processing (NLP). These systems help with intelligent decision-making, extract important insights from documents, and classify them.

AI-driven document processing systems minimize mistakes and eliminate the need for human data entry by automatically identifying, extracting, and validating data. AI also improves text comprehension and accessibility by enabling advanced capabilities like sentiment analysis, summarization, and language translation. All things considered, AI in document processing improves productivity, accelerates procedures, and simplifies workflows, all of which significantly benefit businesses in various sectors.

Common Challenges in Document Processing

1. Manual Data Entry and Its Limitations

With manual data entry, there is inevitably an element of wasted time and effort. It is a mundane task that can leave employees with a deep sense of stagnation that can directly affect their quality of work. Listed below are some of the major limitations of manual data entry:

• Accuracy: Prone to human mistakes and dependent on the state of the individual inputting.
• Speed and efficiency: Slow and inefficient due to human limitations and the necessity for breaks.
• Costs: Lower start-up expenses but greater long-term employment costs.
• Workflow integration: Additional procedures may be required for integration with digital operations.

2. Error Rates and Data Inconsistencies

Errors frequently occur when manual customs entries are processed. In commerce, much time and money is spent moving data from one document to another, yet mistakes are common. Up to 4% of errors occur during data entry without verification layer processes.

3. Scalability Issues

The root cause of scalability problems in document processing is the inefficiency of human approaches to processing huge amounts of data. Some of the difficulties are processing data slowly, using a lot of resources, being prone to errors, having little flexibility, having compliance issues, and having complicated integration.

4. Compliance And Security Concerns

Manual processing raises the possibility of human error, resulting in data breaches and compliance infractions. Because physical storage doesn’t have strong access restrictions, unauthorized parties might access private data. Furthermore, audit trails suffer from manual operations, which makes it difficult to monitor document handling and guarantee regulatory compliance.

The Transformation With AI: Top Benefits

Artificial intelligence has emerged as a savior that rescues organizations from the clutches of manual document processing. Listed below are some areas that benefit greatly from AI.

1. Efficiency And Cost Savings

AI simplifies many document-processing tasks. It lightens the workload for staff members across many departments, freeing up time for other duties. By automating repetitive tasks, organizations can greatly cut unnecessary costs and enhance their overall efficiency.

Reducing processing time and operational costs is another major benefit of AI in document processing. Automation lowers labor expenses related to hand-processing documents, resulting in considerable cost savings. By reducing human labor, intelligent document processing also reduces the time required for processing. AI technologies save expenses, particularly for organizations that must recruit temporary staff during their busiest seasons.

2. Enhanced Accuracy

Machine learning increases the accuracy of document processing by using OCR (Optical Character Recognition) for adaptive recognition, automating data extraction, and comprehending document context. Errors are found and fixed, and accuracy is continually increased with feedback. By decreasing manual involvement and boosting the effectiveness of collecting insights from documents, machine learning (ML) enables customization for specific demands.

Furthermore, AI reduces human error in document processing by using continuous learning, contextual understanding, automated data extraction, advanced OCR for accurate text recognition, and error detection and repair.

3. Intelligent Decision-Making

IDP provides important insights, analyzes retrieved data, and automates repetitive procedures. As a result, company managers can base their judgments on factual and impartial facts. By acquiring structured data from unstructured documents, finding patterns and correlations, and using natural language processing (NLP) to comprehend the context and sentiment of text, artificial intelligence (AI) in document processing offers data-driven insights and analytics. It promotes rapid comprehension and decision-making by arranging and simplifying documents.

Predictive modeling is another use of AI in document processing. AI models may help with strategic planning by predicting outcomes based on past data. Machine learning algorithms study past document data to find trends and patterns that allow for predicting future events. Thanks to this predictive information, businesses can proactively adjust plans, efficiently manage resources, and take advantage of new opportunities.

4. Customer Satisfaction

Using AI for document processing can help you increase client loyalty. It reduces paperwork mistakes and the average response time. A fast response helps establish solid, reliable connections with consumers. To improve the overall customer experience, AI-powered document processing systems may evaluate consumer data to customize interactions and tailor replies to specific requirements and preferences. Artificial intelligence improves clarity and transparency in client relationships by automatically creating and distributing bespoke documents, such as contracts or invoices, facilitating seamless communication.

AI Document Processing in Action: Use Cases Across Industries

AI has proved to be a game-changer in many industries as it smooths out document processing and achieves time and cost efficiencies.

1. Banking and Financial Services

AI document processing simplifies processes, boosts productivity, and enhances customer experiences—all critical banking and financial services functions. This is how the industry gains from it:

• Loan Processing: AI speeds up loan approvals and cuts down on processing times by automating procedures for document verification, credit scoring, and risk assessment.
• Fraud Detection: Artificial intelligence (AI) systems examine transaction records and patterns to quickly identify fraudulent activity, allowing for early intervention and reducing financial risks.
• Risk management: AI assists in the decision-making processes related to risk management and wealth management services by analyzing financial documents and market data. This helps evaluate risks, forecast market trends, and optimize investment portfolios.

According to a recent survey by the Cambridge Centre for Alternative Finance and the World Economic Forum, 85% of prosperous financial services companies currently use artificial intelligence in some capacity in document processing.

2. Insurance

Insurance operations are revolutionized by AI document processing, which reduces risks, streamlines procedures, and improves customer experiences.

• Claims Processing: AI simplifies claim settlements and shortens processing times by extracting and analyzing important information from documents.
• AI in Policy Underwriting: This process enhances the precision and efficiency of underwriting by analyzing policy papers and client data to identify risks, personalize coverage, and maximize price.
• Risk Assessment: AI examines a variety of documents, including property assessments and medical records, to precisely determine risk factors. This allows insurers to provide specialized coverage and pricing options.

3. Legal Sector

Legal services are changing because AI document processing improves efficiency, streamlines processes, and facilitates better decision-making. According to a Deloitte report, 30% of legal professionals believe AI will transform the delivery of legal services.

• Legal Research: Artificial intelligence (AI)-driven technologies can examine lengthy legal documents, court cases, and precedents to give attorneys relevant information and suggestions, speeding and enhancing the quality of legal research.
• Document Review: Artificial intelligence (AI) reduces the time and effort needed for manual review by automating the extraction of important information, spotting possible risks, and highlighting errors in legal documents, contracts, and agreements.
• Contract Management: AI streamlines and lowers contract administration errors by automating drafting contracts, reviewing, and management processes. It also extracts clauses, tracks obligations, and keeps track of deadlines.

4. Information Technology

AI document processing in information technology is the application of artificial intelligence algorithms to automate the management, analysis, and extraction of data from various types of documents. This technology uses machine learning algorithms, natural language processing (NLP), computer vision, and other artificial intelligence (AI) approaches to comprehend, categorize, and extract useful data from text files, photos, PDFs, spreadsheets, and more.

• Automated code documentation and AI-powered augmented development optimize programmers’ workflows in IT service management augmentation.
• Automated documentation saves effort and assures consistency by creating code explanations automatically. This improves accessibility and knowledge transmission among teams.
• Augmented development uses artificial intelligence for code analysis, optimization, and problem discovery, which speeds up development cycles and improves code quality.

5. Telecommunications

AI document processing in telecoms involves applying artificial intelligence technology to automate numerous document-related operations and boost operational efficiency in the telecom business.

• Chatbots: In telecoms, AI document processing improves customer service chatbots by giving them instant access to information for individualized replies, lowering wait times and increasing efficiency.
• Network Optimization: It also optimizes networks by evaluating performance data to foresee problems, distribute resources efficiently, and plan maintenance, increasing dependability and minimizing downtime.

These applications improve operational efficiency, boost customer happiness, and allow telecom firms to make data-driven decisions for better service delivery.

6. Healthcare

AI document processing in healthcare transforms administrative duties and improves patient care.

• Automated Records Management: AI quickly organizes and pulls data from medical records, improving administrative procedures and lowering human error.
• Diagnostic report analysis: AI examines massive quantities of medical literature and research articles to extract insights that help with medical research, medication discovery, and therapy development.

How Fingent Can Elevate Your Business with AI

Fingent is one of the biggest IT solution suppliers worldwide, with clients across four continents.

We provide custom AI solutions uniquely tailored to our clients’ needs across all major industries. By creating a custom AI solution, you will own the program forever. You may even sell the technology to third parties. Custom AI software development is the best option for integrating with current software. Under the supervision of our excellent team, integrating your business with existing systems will be a seamless operation. Our AI-powered chatbots employ machine learning algorithms and natural language processing to understand consumer demands and provide the best responses.

From doing software testing and providing excellent customer service to giving product suggestions, we will assist you at every stage of the procedure. To guarantee the finest results for you, we use cutting-edge technologies such as artificial intelligence, natural language processing, and machine learning.

Give us a call, and let’s discuss your needs.

Extended Reality (XR) is not a technological marvel. It’s a force that is reshaping how we interact with the world. This blog will help you discover how XR catalyzes the shifts in customer behavior and market demand. But first, let’s explore what Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) are.

Join us as we unravel the layers of XR. A fusion that transcends technology and propels us into a realm of possibilities and unique experiences.

Extended Reality (XR): A Fusion of Augmented, Virtual, and Mixed Realities

XR is a versatile umbrella term. It includes a range of immersive technologies. They are changing how we interact with the digital and physical worlds. At its core, XR integrates three primary components: Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR).

•  Augmented Reality (AR) – Enhancing Real-world Experiences: AR enriches reality. It overlays digital elements on physical surroundings. This is done through smartphones, smart glasses, or AR headsets.
• Virtual Reality (VR) – Total Immersion in Alternate Realities: VR disconnects users from the physical world. It transports them to synthetic environments using headsets like Oculus Rift or HTC Vive.
• Mixed Reality (MR) – Seamlessly Integrating Real and Digital: MR blends AR and VR, creating a real-time interaction where digital and physical coexist. Devices like Microsoft HoloLens integrate holographic images, bridging the gap between real and virtual realms.

The Evolution of XR: From Novelties to Necessities

Over the years, XR has improved a lot. It has reshaped how we see and interact with the digital world. Initially, XR technologies were perceived as cutting-edge novelties confined to niche applications and experimental projects. But, fast progress and innovation have moved XR into the mainstream. It is widely used in many industries.

One pivotal aspect of this evolution is the distinction between XR and spatial computing. Spatial computing uses spatial mapping and computing to improve interactions in physical spaces. XR covers a broader range of technologies. XR integrates AR, VR, and MR, providing a comprehensive framework for immersive and interactive experiences.

As XR technologies matured, the focus shifted from novelty to practicality. Better hardware, graphics, and advanced sensors made XR apps more realistic and useful. This evolution has facilitated the seamless integration of XR into diverse fields, ranging from healthcare, education, entertainment, and enterprise.

Read More: Augmented Reality in Healthcare

XR: Transforming Customer Behavior and Igniting Business Opportunities

Extended Reality is reshaping customer behaviors and presenting businesses with unprecedented opportunities. The immersive nature of XR technologies has far-reaching effects, as shown below:

1. Enhanced Customer Engagement

XR transforms the customer experience, fostering deeper engagement and interactivity. In retail, for example, AR empowers customers to try products virtually. This reduces uncertainties and bolsters confidence to buy right. This heightened engagement correlates with increased customer satisfaction and loyalty.

2. Personalized Product Experiences

Businesses leverage XR for personalized product interactions. Customers can visualize products in real settings or explore virtual showrooms. This customized approach enriches the shopping process. Businesses can also gain deeper insights into customer preferences.

3. Improved Decision-Making Processes

In the real estate and automotive sectors, XR facilitates decision-making through immersive experiences. Prospective homebuyers can virtually tour properties. Car buyers, meanwhile, can customize and visualize vehicles in intricate detail. This expedites decision-making and enhances the likelihood of successful transactions.

4. Training and Skill Development

XR revolutionizes professional training with VR simulations. Businesses use realistic scenarios to build employee skills. This leads to better performance and lower training costs, making them more efficient.

Medical Simulation Training: XR is used in medical training for simulations. It lets healthcare pros practice surgeries and procedures in a virtual world. This addresses challenges related to limited access to real-life scenarios, enhancing practical skills, and reducing the learning curve.

In industries like manufacturing and construction, XR is used for training. It is for training on complex machinery and equipment. According to a PwC study, using AR/VR devices lets employees train four times faster. This led to a 275% increase in their confidence. AR/VR training emerges as a powerful approach. It substantially minimizes training duration and also helps eliminate training accidents.

5. Opening New Avenues in E-commerce

XR is reshaping e-commerce with AR try-on features and VR-enhanced virtual shopping. This evolution improves online retail, leading to higher conversion and lower returns.

AR Try-Ons in Fashion: E-commerce platforms integrate AR for virtual try-on experiences in the fashion industry. Customers can try on clothing and accessories with their smartphones. This solves challenges related to being unable to try items before buying. This enhances the online shopping experience and reduces return rates.

VR-Enhanced Virtual Shopping: XR technologies, particularly VR, create immersive virtual shopping environments. Customers can explore products in 3D. This addresses challenges from the lack of physical interaction in online shopping. This provides a more engaging and interactive experience, increasing conversion rates.

AR try-on technology in clothing retail boosts Average Order Values (AOVs). It also encourages repeat purchases. According to Threekit, 71% of consumers say they will shop more with AR in their customer journey.

6. Streamlining Product Design and Configuration

XR streamlines processes. These processes are critical for product design in industries like automotive and manufacturing. XR facilitates virtual prototyping in the automotive industry. Designers can create and change 3D vehicle models. This streamlines the design process and addresses challenges related to the cost and time of physical prototyping. It leads to more efficient and cost-effective design changes.

Fingent’s Guide to XR Triumph

Elevate your enterprise to new heights with Fingent’s unparalleled expertise in Extended Reality. Our tailored XR solutions redefine training, customer engagement, and product design processes. We specialize in creating immersive simulations for efficient employee training. Fingent crafts AR/VR apps that enhance customer experiences. We also streamline product design with virtual prototyping and 3D modeling. Seamless integration into existing systems ensures minimal disruption. While continuous support and optimization keep your enterprise at the forefront of innovation. Transform possibilities into reality with Fingent as your strategic XR partner.

Ready to embark on a journey of enhanced success?

Contact Fingent today.

Witness the transformative power of XR reshaping your enterprise’s training programs, customer interactions, and product design processes. Let’s redefine success together!

It is surprising to see how much technology has evolved and the great impact that Artificial Intelligence has on this dramatic growth. During times of great evolution, it becomes vital to swiftly adapt to the change. Otherwise, you will find yourself lost in a sea of unfamiliarity. 

Today, we see the practical application of AI in almost every realm. From solving real-world problems to achieving specific goals, AI is utilized in both general applications and business-specific applications. The rising capabilities of AI are allowing industries to embark on new horizons with quick data analysis and predictions, automated processes, improved efficiency, personalized experiences, and enhanced decision-making skills. And with Applied AI, these opportunities widen further. Applied AI leverages both software applications and machine learning to deliver high value in addressing practical challenges.

“I am telling you, the world’s first ‘trillionaires’ are going to come from somebody who masters AI and all its derivatives and applies it in ways we never thought of.” – Mark Cuban.

This blog will guide you through the business benefits of utilizing Applied AI.

What Is Artificial Intelligence?

Before we dive into what Applied Artificial Intelligence is and how it can help businesses prosper, let us first familiarize ourselves with AI. 

Artificial intelligence (AI), a broad field of computer science, aims to create intelligent machines that can carry out tasks that normally call for human cognition.

Today, AI technology is used on approximately 77% of devices!

Artificial Intelligence is bringing about a paradigm shift in almost every area of the tech industry using a variety of techniques, particularly with regard to advances in machine learning and deep learning. It is having a growing impact on all industries, including healthcare, automotive, agriculture, hospitality, manufacturing, and education. Organizations are using this technology to become more efficient, cut expenses, enhance customer satisfaction, raise sales, and obtain a competitive edge in the market. 

What Is Applied Artificial Intelligence?

Now that we have a base-level understanding of Artificial Intelligence let’s explore the world of Applied Artificial Intelligence. 

Artificial intelligence (AI) that is applied to real-world situations allows computers and robots with computer control to perform activities that are currently only possible in lab settings. Advanced information processing, or “applied AI,” tries to create commercially viable “smart” systems, such as stock trading and “expert” medical diagnosis systems. In addition to changing how we interact with everything around us, applied Artificial Intelligence is contextualizing business models and industry processes.

As more companies begin to realize the potential of applied Artificial Intelligence, it’s becoming apparent that this is the way of the future. Applied artificial intelligence (AI) is quickly rising to the top of the global technology demand curve due to its capacity to automate mundane tasks, lower operating costs, and produce more robust and accurate data. 

By applying AI techniques to solve real-world issues, including deep learning, computer vision, machine learning, and natural language processing (NLP), Applied AI systems function in actual settings and do jobs that would normally call for human assistance or knowledge. Although this application of Artificial Intelligence is relatively new, it is predicted to segue into routine business functions and dramatically improve them. 

How Is Applied AI Different From Regular Artificial Intelligence Applications?

Applied Artificial Intelligence is the practical application of Artificial Intelligence technologies to solve particular problems or carry out specific tasks, whereas Artificial Intelligence applications refer to specific software programs or systems that make use of AI techniques to perform tasks or functions. Applied AI entails applying AI theories, models, and algorithms to practical situations in order to produce observable results.

In contrast to conventional Artificial Intelligence technology, Applied AI operates well without an extensive amount of data. This makes it more accurate and efficient since it can operate with less data. Additionally, the AI can adjust without the need for manual coding or a protracted learning curve.

Moreover, applied AI is distinct from other Artificial Intelligence applications in that it integrates deep learning, robotics, computer vision, machine learning, and natural language processing to facilitate automated decision-making. Rather than depending on just one technology, this mix enables the AI to process more data and come to better conclusions. Applied AI is also flexible enough to be utilized in more dynamic scenarios because it can adjust to shifting environments and conditions. 

How Can Businesses Benefit From Applied Artificial Intelligence?

Businesses benefit from Applied AI in a variety of ways, including enhanced efficiency and accuracy, cost savings, and better decision-making. According to MIT Sloan statistics on artificial intelligence, 75% of senior executives think that AI will help their company expand and gain a competitive advantage. Here are some of the primary advantages of Applied AI:

• Decisions Made Quickly: Applied AI reduces errors and predicts outcomes by allowing computers to make “human-like” decisions. This results in enhanced smart device systems and end-to-end process automation.
• Human Touch In Technology: Applied AI reduces the effects of human bias, model mistakes, and ethical issues by fusing computer power with a human touch.
• Enhanced Productivity And Efficiency: Applied AI saves time and money by increasing productivity and efficiency.
• Automation: It increases production by automating laborious procedures, freeing up workers for more important work.
• Increased Revenue: By using machine learning and adaptability, applied artificial intelligence (AI) can detect and resolve complicated business problems, enhancing profitability.

Applications Of Applied AI

Global business executives agree that Artificial Intelligence and Machine Learning are the main forces behind the Industry 4.0 revolution. Artificial intelligence has been estimated to increase global GDP by 14%, or 15.7 trillion dollars, by 2030. 

Let’s delve deeper into specific use cases of Applied AI within various industries to highlight its practical applications:

1. Medical Care

• Disease Prediction and Prevention: Artificial Intelligence algorithms are able to evaluate patient data and forecast the chance of developing conditions like cardiac disease or diabetes. This allows for proactive preventative treatments.
• Remote Patient Monitoring: AI-enabled gadgets can keep an eye on patients’ health from a distance and notify medical professionals of any irregularities.

2. Finance

• Robo-Advisors: AI-powered robo-advisors offer individualized investment guidance according to each client’s financial objectives and risk tolerance.
• Fraud Detection and Prevention: Artificial intelligence systems examine transaction patterns to immediately identify and stop fraudulent activity.

3. Retail

• Dynamic Pricing: Artificial Intelligence adjusts prices in response to market conditions, rival prices, and demand.
• Visual Search: Customers can find products by submitting photographs, due to AI’s ability to enable visual search capabilities.

Read More: AI in Retail

4. Production

• Predictive maintenance: Artificial Intelligence lowers downtime and maintenance costs by using artificial intelligence to forecast when equipment is likely to break down.
• Quality Inspection: Highly accurate computer vision systems using artificial intelligence (AI) scan products for flaws.

5. Education

• Personalized Learning Plans: Artificial Intelligence modifies the curriculum to fit each student’s needs by customizing instructional content to fit their unique learning preferences.
• Automated Tutoring: AI helps students learn outside of the classroom by offering them individualized tutoring and feedback.

6. Autonomous Vehicles

• Path Planning: AI systems determine the best paths for self-driving cars while taking safety and traffic patterns into account.
• Object Recognition: Artificial Intelligence gives cars the ability to identify and react to objects and impediments in their surroundings.

7. Cyber Security

• Behavioral Analysis: Artificial Intelligence keeps an eye on user behavior, looking for deviations that might point to a security risk.
• Automated Threat Response: By reducing the impact of attacks, AI automates the response to cyber security problems.

8. Human Resources

• Resume screening: With this feature, AI assists by matching job prospects with specific specifications.
• Employee Sentiment Analysis: To determine job happiness, AI examines employee sentiment and feedback.

9. Energy

• Energy Consumption Forecasting: Utility firms can optimize energy production and distribution by using artificial intelligence to estimate energy demand.
• Smart Grid Optimization: Artificial Intelligence enhances the efficiency of smart grids by adjusting energy supply and demand in real time.

10. Marketing

• Customer Segmentation: To create segments for focused marketing efforts, artificial intelligence (AI) examines consumer behavior.
• Chatbot marketing: AI-driven chatbots converse with clients, respond to their questions, and help suggest products.

What Are The Future Implications Of Applied Artificial Intelligence?

Applied AI has the power to completely change how companies use technology and conduct business. Autonomous vehicles, for example, can sense obstacles, make decisions, and react rapidly. Who knew that such a thing was possible! Artificial intelligence makes the future seem closer and encourages us to sprint faster towards it. 

Did You know? The CAGR for the AI industry is predicted to be 36.8% between 2023 and 2030.

As AI-powered virtual assistants continue to improve their comprehension and responsiveness to human orders and questions, it is also likely that their popularity will only grow. With the ability to do things like order groceries and make travel reservations, Artificial Intelligence may eventually become a crucial part of our everyday lives. AI can also be utilized to create intelligent security systems that recognize possible dangers and act on their own to avert them.

The future of applied AI is extremely exciting and full of opportunities. Here are a few significant elements of its future:

• Autonomous Systems: The development of autonomous systems, such as drones, robotic assistants, and self-driving cars, will be fueled by applied artificial intelligence (AI) and will improve productivity and safety in a variety of sectors.
• Medical Revolution: Artificial Intelligence will be crucial in enabling telemedicine, tailored treatment regimens, and early disease identification, all of which will lead to better patient outcomes.
• Personalization: By adapting content and services to individual tastes, applied AI will result in increasingly personalized experiences in e-commerce, entertainment, education, and other fields.
• Environmental Sustainability: Artificial Intelligence will definitely help with environmental data management and monitoring, which will make it simpler to monitor and handle issues with pollution, climate change, and resource management.
• Ethical AI: To ensure the impartial and equitable application of AI technology, ethical issues and responsible AI practices will become increasingly important as AI becomes more integrated into society.

Lastly, it will be essential to use AI-based analytics tools to comprehend consumer behavior and forecast future trends. Companies may enhance their marketing strategies, find new business prospects, and improve their product offerings by utilizing AI-driven insights. All things considered, there are a plethora of uses for Applied AI, which may significantly alter our way of life in the future.

Stepping Into The Future With AI

In today’s world, it’s not enough to grasp a computer language, comprehend the many AI application fields, or have theoretical knowledge of machine learning and deep learning methods.

To become a part of Applied AI, you must first integrate all of this knowledge because separate knowledge is useless.  After learning about the various facets of Applied AI, a person can decide to delve deeper into a specific area, such as robotics, computer vision, machine learning for predictions, self-driving cars, natural language processing, etc. Now this may seem daunting, but finding a reliable tech partner for your business will eliminate all of this and help you go straight into the mindboggling benefits of Applied AI.

How Can Fingent Help?

Fingent is an expert in AI technology and has provided tailored solutions to businesses all over the world. With expertise in Machine Learning, Robotic Process Automation, Natural Language Processing, Speech Recognition, and more, we employ cutting-edge technology to ensure the best outcomes for you. In addition to their extensive knowledge and willingness to assist, our professionals also offer post-installation services, so we are with you all the way. 

Applied AI provides an effective and affordable means of putting the newest technological developments into practice for your business. Don’t stay on the fence about this; give us a call, and let’s get the ball rolling. 

The world of technology is evolving at a fast pace, with newly emerging advanced applications almost every day. With the significant growth of technology, we can also witness the transition of companies from legacy systems to modern systems. That is what gives your business true agility. 

Application modernization assists companies in eliminating needless operating costs, lowering capital expenditures, and freeing up workers to pursue new initiatives and revenue-generating plans. In this article, we will look at what modernizing your system application looks like and how it can benefit your company’s growth and success.

“In Today’s era of volatility, there is no other way but to re-invent. The only sustainable advantage you can have over others is agility, that’s it. Because nothing else is sustainable, everything else you create, somebody else will replicate.” —   Jeff Bezos, Founder, Amazon.

What Is Application Modernization?

In simple words, it is the practice of updating old software systems, also known as legacy systems, in order to retain the memory data but still benefit from the new framework. It is like renovating a house. Rather than discarding the older system, we can give it a good remodel and enhance its efficiency. 

The global application modernization services market was valued at USD 11838.15 million in 2021 and is predicted to grow at a CAGR of 14.31% over the forecast period, reaching USD 26405.06 million by 2027. For many businesses, this entails re-programming existing legacy workloads onto current cloud-based platforms or splitting monolithic software into smaller components, such as microservices, and then programming these microservices.

Why Has It Become Essential?

The main and most obvious reason for application modernization is to enhance efficiency, which will in turn give the company a better stand in this immensely competitive industry. Modernizing apps may help businesses take advantage of new technology and streamline processes among other things. 

Remember that there is an unseen cost in trying to make do with legacy software. Outdated software can reduce productivity, stifle expansion, and degrade the customer experience. On the other hand, a strong application modernization plan will also lower the resources needed to run an application, enhance the frequency and dependability of deployments, and improve uptime and resilience.

Top Benefits

Listed below are the top benefits you can experience by modernizing your system software:

1. Improved efficiency

Modernizing applications enables organizations to simplify processes, minimize layoffs, and automate repetitive procedures, resulting in higher productivity and resource utilization. App modernization also helps to maintain a variety of existing procedures, ensuring company continuity. According to IBM, upgrading legacy systems can increase developer productivity by up to 40%.

2. Cost benefits

You will cut expenses, improve dependability, and boost consumer confidence, and also position your organization to seize new possibilities faster. According to Intel, recent research found that when organizations lower their technical debt load by updating their legacy app portfolio, they get immediate savings of 32% of their IT expenditure.

3. Scalability

Modernized applications are often built to be more scalable, making it simpler to handle growing workloads and respond to changes in user demand. This is critical for businesses as they expand and need to support a larger user base or more sophisticated processes.

4. Flexibility

The flexibility of a business goes hand-in-hand with its ability to scale from smaller user bases to larger user bases. It can also be seen from the perspective that with advanced technology as your backbone, your company is more flexible to adaptations, upgrades, and changes in general. Agility is a product of flexibility and the best example for this is how Pinterest grew its user base from 50,000 to 17 million in only nine months by moving its processing and storage to Amazon Web Services.

5. User experience

For any organization, customer experience is the topmost priority. Giving your users what they want and keeping them satisfied is the main goal. Modernized programs frequently have more user-friendly interfaces, enhanced navigation, and responsive design. This improves the user experience and helps to retain consumers, perhaps leading to higher customer satisfaction and loyalty

6. Integration capabilities

Modernized applications provide for easier integration with other systems and third-party services. This is critical for businesses trying to establish a unified digital environment in which data and processes flow seamlessly between apps and platforms.  As applications migrate to the cloud, the ability to link them to databases and other resources becomes critical in generating cost savings and enhanced creativity.

7. Competitive edge

Ultimately as mentioned above, the main goal is a competitive edge, a winning chance, a head- start in the race. Modernized apps may help businesses remain ahead of the competition by allowing them to offer new features, deliver faster updates, and adapt to market changes more efficiently. By offering unique, quick-to-market applications, your company may better adapt to new market possibilities, increase efficiency, and engage consumers. According to IDC research, companies that engage in modern application development processes get 51% faster time-to-market and 41% more frequent distributions of software than those who do not.

Identifying When Your Company Needs Application Modernization

Identifying when your company’s systems require modernization is critical for staying competitive, increasing productivity, and ensuring long-term success. Here are some significant indicators that it is time to explore application modernization:

• Performance Problems: Recurrent problems with your applications, including sluggish response times, system failures, or blackouts, may be a sign that they are not able to handle the current workload. 
• Security Vulnerabilities: Security risks are more likely to affect legacy systems. Your company is vulnerable to data breaches and cyberattacks if your apps do not have the latest security features and upgrades.
• Lack of flexibility and scalability: Your organization’s growth may be hindered if your present applications are not flexible and scalable enough to meet changing business requirements or rising workloads. In order to adapt to changing requirements, modern applications are made to be more scalable and adaptable.
• Difficulty in Integration: Data flow and cooperation may be hampered if your applications are difficult to integrate with other systems in your company or with outside partners.
• Inadequate user experience: A poor user experience can result in customer and staff dissatisfaction.  Your applications could benefit from modernization if they lack features that improve usability or have an outdated user interface.

The Best Strategies For Application Modernization

Application modernization is a complex process that requires severe attention to details. It’s often beneficial to work with a cross-functional team and involve key stakeholders throughout the modernization journey. Here are a few of the best strategies to adopt while modernizing your system software application:

• Automation Is Key: Modernization teams are frequently stuck with manual methods that do not scale across a complete application estate. Thus, adding intelligent automation, AI, and data science to modernization and developing a repeatable pipeline for refactoring are critical.
• Define business Goals: An application modernization evaluation begins by defining which business goals the company wants to achieve through modernization. Common corporate motivations driving app modernization include cost savings, performance enhancement, enhanced security, and simplified management.
• Deep Application Observation: To modernize an existing monolith, deep observation is required in addition to basic static code analysis. This includes deeper domain-driven behavior analysis and continuously tracking dependency interactions.
• User Training and Change Management: Make investments in these areas to help end users move smoothly. Emphasize the advantages of modernization initiatives and offer assistance throughout the adoption process.
• Frequent Updating and Maintenance: The process of modernization never ends. To ensure that programs stay up-to-date with changing business requirements and technology changes, schedule frequent upgrades and maintenance.

How Can Fingent Help?

Leveraging app modernization to improve efficiency is a challenging task, but worry not because a competent development solution like Fingent can accomplish it with ease. At Fingent, our team of professionals can implement cutting-edge technology such as cloud-native solutions, artificial intelligence, and machine learning software in your organization. With satisfied customers worldwide, we provide tailored service and support to fit your company’s needs, with the flexibility to scale as needed.

Contact us to learn more about how we can help!

Cost, Compliance, Efficiency, and Manpower – These are the pillars on which a fleet management business stands. A compromise on any of these can mean the whole business topples with a resounding crash. 

How can you ensure the stability of these pillars? Custom Fleet Management Software brings you the solution. Let us find out how.

Fleet Management and Technology

Before we dive into the many valid reasons why every successful company should have its own personalized fleet management software, let us first familiarize ourselves with what fleet management is.

Fleet management is a service that helps businesses that rely on transportation remove or limit the risks associated with vehicle investment, enhance efficiency and productivity, and decrease total transportation and labor expenses. While most typically used for vehicle tracking, fleet management also involves monitoring and documenting mechanical problems and driver behavior.

In addition to a 12% increase in fleet management technology usage between 2019 and 2020, forecasts indicate that the fleet management market was valued at $25.5 billion in 2022 and might grow to $52.4 billion by 2027. 

Fleet efficiency is by far the most important and game-changing aspect of fleet management. It refers to the economic feasibility and optimal functioning of the entire fleet, irrespective of the vehicles in it. If you can lock down the efficiency of your fleet, you will be one step ahead of other businesses. This makes improving fleet efficiency a top priority for companies.

Read more: Robotics in Logistics: Dawn of a New Era

Fleet Management Challenges

Just like shop-floor machinery and equipment, fleet vehicles have their fair share of obstacles. The top three are:

• Driver Shortage: The shortage of drivers has been one of the top issues for fleet managers over the last decade. Recruiting drivers with little driving experience can also result in safety concerns and the additional requirement for driver monitoring strategies.
• Safety: Accidents are not only costly and result in injury or even serious hospitalization, but they also harm production, profitability, and reputation.
• Handling High Costs: The most significant obstacle to fleet management will always be cost control. It’s critical to do a complete analysis of your present operations and focus on areas that require improvement, such as driver behavior, fuel prices, possible theft, and CO2 emissions.

How Does Fleet Management Software (FMS) Help Tackle These Challenges?

Effective fleet management software is a perfect solution for these top three challenges faced by most companies, here’s how:

• Technology can aid in monitoring driver responses and safety practices. Intelligent systems are able to analyze and extract meaning from the data. Additionally, deviations in data that might indicate future issues can be found using predictive analytics. They can serve as early warning systems and aid in hiring qualified drivers for the position.
• A fleet management system can track a driver’s hours of service and shifts performed, which can help reduce the risk of accidents. It can also monitor a driver’s training and experience to guarantee they are matched with a vehicle.
• Although it can seem impossible to overcome increased expenses, operating more economically and efficiently is now feasible thanks to advanced technological solutions. Your fleet operations can be improved by implementing an AI-powered solution or fleet management software.

Benefits Of FMS

Here are the key advantages of a well-primed fleet management system:

• Improved customer satisfaction that comes with orders and services being on schedule.
• You can manage your whole fleet from one location using FMS, giving you access to a single, user-friendly platform.
• Technology-based solutions periodically yield unexpected insights about managing fuel use. They enable you to get notifications and updates, such as when a certain vehicle is about to go over the daily distance allotted.
• There are built-in capabilities in the software that let you drive less and use less gasoline, which cuts down on expenses significantly.
• Customer wait times, maintenance expenses, and fuel costs may all be decreased with the use of route optimization.

Some of the other benefits include thorough and well-structured reporting and analytics, prevention of theft and fraud, and improved vehicle lifespan.

How Is Customized Fleet Software Better Than Fleet Management Off-The-Shelf Software?

When dealing with software and technology in general, it is always better to opt for a more personalized service rather than ordinary, pre-developed software. Though it might seem to cost more and take longer to produce, custom software provides specialized solutions, scalability, and a competitive edge. A custom FMS is made especially for the firm and tailored to its specific business practices.

According to 87% of IT decision-makers questioned, corporate technology innovation is being driven by custom software. Pre-packaged software is less likely to be used than bespoke software, according to half of the respondents (52 percent). 

A custom FMS can provide a level of flexibility to your solution that has the power to make all your business processes flow seamlessly. As a business owner, it is part of your responsibility to ensure that whatever investment you make in the company can survive in the long run. Customized software for fleet management is one such investment. It is definitely worth it in the long run.

Myths Revolving Around Custom FMS Development

Most evolving technologies suffer at the hands of myths and rumors of inefficiency. This leads to uncertainty and hesitation towards developing a custom solution. Let’s address some of those myths associated with custom FMS development:

• A GPS Tracker And Fleet Management System Are the Same Thing: This is untrue. GPS tracking is one of the many components of FMS. There are many other beneficial components of the software.
• Customized Software Is Not Scalable: On the contrary, custom software is more scalable than off-the-shelf. With the right software partner, the software can be designed to be scalable – you only pay how much your business needs and then add to it as the business expands. 
• Small-Fleet Businesses Do Not Benefit from A Fleet Management System: Regardless of the size of the business, they usually require a fleet of vehicles, a number of drivers, and logistic hassles that come with them. Fleet efficiency is paramount if a business wants to have a competitive edge in the market, especially for small businesses vying for a spot with big players. This makes Fleet Management Software all the more necessary.  
• Fleet Management Systems Violate Drivers’ Privacy: It becomes crucial for fleet managers to clarify to drivers that the purpose of using fleet management technologies is to increase overall process efficiency, not to violate an individual’s privacy.

How Can Fingent Help?

Fingent works with clients globally to develop custom software for their many logistical operations, including fleet management. By incorporating technologies like IoT, cloud computing, robotic process automation, big data, and blockchain, we bring you the efficiencies that they provide. This includes real-time data visibility, automation of tedious tasks, intelligent tracking of road conditions, and more. 

Our tech experts will work with you to provide a custom solution that will meet your specific business needs, with the ability to scale as your business grows.

Give us a call, and let’s discuss how we can make this possible. 

As the world grapples with the challenges of climate change, soil degradation, and resource scarcity, agricultural organizations find themselves at a critical juncture. The urgency for adopting sustainable farming practices, amplified by the integration of custom software, has never been more pronounced. This blog explores the pivotal role of digital transformation in achieving sustainability, shedding light on why agricultural organizations should embrace this shift.

Why the Focus on Sustainable Farming?

The urgency stems from a dual challenge: preserving the environment and securing the economic viability of agricultural operations. Inefficient practices impact the bottom line, making sustainability not just a moral duty but a financial necessity.

The Impact of Digital Transformation in Agriculture

Digital transformation, powered by Artificial Intelligence (AI), Data Analytics, and Cloud solutions, represents a seismic shift in farming approaches. The focus isn’t on whether to adopt these technologies but on how fast agricultural organizations can leverage them for sustainable growth.

To understand why agricultural organizations should embrace digital transformation, let’s consider some use cases.

1. AI in Agriculture: Precision Farming for Optimal Results

Use Case: Crop Yield Prediction

One significant application of AI in agriculture is crop yield prediction. AI algorithms analyze historical weather patterns, soil conditions, and crop health data to forecast optimal planting times and expected yields. For instance, a predictive AI model can take into account variables like temperature, precipitation, and crop health data to help farmers make data-driven decisions, maximizing yield with minimal resource use.

2. Data Analytics: Informed Decision-Making in Real Time

Use Case: Soil Health Monitoring

Data Analytics plays a crucial role in monitoring soil health in real-time. Sensors placed in the soil collect data on moisture levels, nutrient content, and temperature. Data Analytics algorithms process this information, providing farmers with immediate insights into soil conditions. By understanding these factors, farmers can adjust irrigation, fertilizer application, and other practices to optimize crop growth.

3. Big Data: Navigating Trends for Long-Term Success

Use Case: Market Trend Analysis

Big Data is instrumental in analyzing market trends to help farmers make informed decisions about crop selection and pricing. By aggregating and analyzing data from various sources, such as global market trends, consumer preferences, and weather patterns, farmers can strategically plan their crop rotations and adapt to changing market demands.

4. Cloud: Scalability and Flexibility for Modern Farms

Use Case: Remote Monitoring and Management

Cloud solutions enable remote monitoring of farming operations. Farmers can access real-time data on crop conditions, equipment status, and weather patterns from anywhere. This level of accessibility enhances decision-making and allows for timely responses to changing conditions.

Use Case: Collaborative Farming Platforms

Cloud-based collaborative platforms facilitate information sharing among farmers. This includes sharing insights on best practices, weather forecasts, and market trends. Such platforms promote collaboration, helping farmers make collective decisions for mutual benefit.

5. In-Depth Custom Software: Tailored Solutions for Agricultural Challenges

Elaborating on custom software solutions, let’s explore specific examples of how custom software has been tailored to address challenges in agriculture:

Example: Crop Management System

A custom Crop Management System can integrate AI and Data Analytics to provide farmers with comprehensive insights into crop health, soil conditions, and weather forecasts. This solution tailors its algorithms to the specific crops grown on a farm, offering personalized recommendations for irrigation schedules, fertilization, and pest control.

Example: Supply Chain Optimization Software

Custom software designed for supply chain optimization in agriculture integrates Big Data analytics. It tracks the entire supply chain, from harvest to distribution, optimizing routes, storage conditions, and inventory management. This ensures that produce reaches its destination in optimal condition, reducing waste and maximizing profitability.

Read Case Study: How Fingent helped a leading hydroponic farming company in the US transform its data management, tracking, and operational capabilities through customized technology.

Challenges in Leveraging Technologies in Farming Processes

Although the decision to implement technology in the farming process seems like a no-brainer, there have been a few challenges on the way. 

1. Complex Procedures: Navigating the Intricacies

The adoption of technology in farming processes is not a simple plug-and-play endeavor. Farming operations are intricate and interconnected. Addressing these complexities requires a strategic approach that acknowledges the nuances of each operation.

2. Legacy Systems: Breaking Free from the Past

Many agricultural operations are shackled by legacy systems that were implemented in a different era. These systems, while once effective, now hinder the integration of modern digital solutions. Overcoming this challenge involves strategic investments in upgrading or replacing outdated infrastructure.

3. Staff Onboarding: Bridging the Knowledge Gap

The success of digital transformation hinges on the people behind the technology. Onboarding staff with new technology presents a unique set of challenges, from upskilling the existing workforce to recruiting new talent. A comprehensive training strategy is essential to ensure that the human element seamlessly integrates with the digital landscape.

As the farming industry stands at the crossroads of tradition and innovation, the role of custom software becomes increasingly pivotal. So, let us explore how custom software serves as the linchpin in driving the right digital transformation for agriculture.

Custom Software: Tailoring Innovation to Agricultural Realities

Custom software addresses the complexities of modern farming, offering tailored solutions that off-the-shelf options often lack. It eases the digital transformation journey, ensuring a seamless integration of technology into existing processes. Here are some ways in which challenges can be addressed:

• Addressing Procedural Complexity: Custom software streamlines intricate procedures without disrupting established workflows, ensuring a seamless integration of new technologies.
• Compatibility with Legacy Systems: Designed to coexist with legacy systems, custom software serves as a strategic bridge, preventing the need for a costly infrastructure overhaul.
• Staff Empowerment through Training Solutions: Custom software includes comprehensive training modules, empowering staff to leverage the full potential of new technologies.

How Can Fingent Help?

At Fingent, we understand that the path to sustainable and efficient farming is paved with innovative, custom solutions. Our expertise extends across three crucial phases of the digital transformation journey: discovery, development, and implementation.

• Discovery Phase: Fingent collaborates closely with agricultural businesses to identify opportunities for digital transformation. Through meticulous analysis, we uncover areas for improvement in resource management, data utilization, and operational efficiency.
• Development Phase: Armed with insights, our seasoned developers craft custom software solutions designed to address the unique challenges of each farm. From precision farming tools to supply chain management systems, our goal is to optimize operations and enhance overall efficiency.
• Implementation with 24/7 Backup: The journey doesn’t end with software development. Fingent provides robust implementation support with 24/7 backup, ensuring a smooth transition into the digital landscape. Our commitment is to minimize disruptions and maximize the benefits of sustainable farming practices.

A Greener Tomorrow, Powered by Digital Innovation

In the journey towards a sustainable future for farming, digital transformation is paramount. Custom software is the linchpin, simplifying complexities and seamlessly integrating technology into agricultural operations. At Fingent, we stand ready to be your dedicated partner, discovering opportunities, crafting tailored solutions, and offering unwavering support. With the right custom software, your farm can lead the way to a greener tomorrow.

Give us a call, and let’s get talking. 

“Aviation is the branch of engineering that is least forgiving of mistakes.” – Freeman Dyson, British-American theoretical physicist and mathematician.

The truth in that statement is sobering indeed. The precision and skill needed to perfect a safe flight plan involves an army of brilliant minds. The process flows onto the nitty gritty of running the day-to-day tasks of the industry as well. That is where AI comes in. 

“Artificial intelligence is not a substitute for human intelligence; it is a tool to amplify human creativity and ingenuity.”  – Fei-Fei Li, co-director of the Stanford Institute for Human-Centered Artificial Intelligence.

Let us look into how AI is transforming the Aviation industry. 

An Introduction to Aviation and Artificial Intelligence

The aviation industry includes nearly every facet of air travel as well as the operations that support it. By extension, this covers the entire airline sector, as well as the production of aircraft, research firms, military aviation, and much more. Aviation management includes a wide range of tasks like managing airport safety and security, air traffic control, airport operations, aircraft maintenance, and airline operations. The ideal pricing strategy for an airline will always vary depending on its unique business objectives, route network, and market competition. The use of strategic communications to market an aviation or aerospace company to decision-makers is known as aviation and aerospace marketing. 

Where AI meets Aviation:

Artificial intelligence has revolutionized modern aviation, especially in connection with the modern airport. Recent reports by Radix state that “the artificial intelligence (AI) market, currently valued at $328.34 billion, is anticipated to expand by at least 120% annually”. 

AI is already improving the efficiency and convenience of air travel by automating mundane procedures in airports. In the future, artificial intelligence (AI) in aviation will primarily focus on digital transformation projects to enhance customer experience, speed up procedures, lower costs, and explore many more benefits of such cutting-edge technologies. According to research, approximately 38% of airports plan to use AI for tailored marketing in the near future.

Read Case Study: How Fingent’s Customized Integrated Solution helped a Private Jet company streamline their operations.  

Specific Areas AI Can Indent An Aviation Company

Artificial intelligence (AI) has already enabled autopilot technology to go from basic instruments for maintaining aircraft altitude to completely autonomous flight control systems that can operate gate-to-gate without requiring human intervention.

Furthermore, it can also be used by airlines and other operators for ground operations, flight planning, and fleet optimization. AI tools can help engineers designing airplanes create and certify goods more quickly and easily before they are even put on the market. Pricing strategy and marketing modules are two of the most critical areas that AI is impacting. 

Pricing Strategies

Airlines are transforming passenger engagement and revenue optimization by utilizing Artificial Intelligence (AI) to harness the possibilities of personalization and dynamic pricing. We’ll explore three of these key artificial intelligence-driven tactics. 

1. Dynamic Pricing For Tickets: Conventional pricing models frequently find it difficult to adjust in real time to changes in the market. However, this is where AI excels. 

• Customer Division: AI divides travelers into categories according to their willingness to pay and purchase patterns. Different consumer segments might have their pricing methods customized to ensure that the price is appealing to them.
• Competitor Observation: Artificial Intelligence (AI) solutions enable airlines to promptly respond to shifts in the competitive landscape by monitoring the pricing and strategies of their rivals.
• Supplementary Services: AI maximizes the cost of both tickets and add-ons like checked baggage, in-flight Wi-Fi, and seat preference. Airlines can optimize their ancillary revenue by determining pricing that appeals to travelers.

2. Personalization Pricing Modules: Airlines are now able to customize services, offers, and experiences to each passenger’s specific interests and behaviors thanks to machine learning algorithms. This degree of personalization is available from the reservation procedure all the way through the in-flight encounter, leading to a flawless travel experience.

• Customer Segmentation and Profiling: To generate thorough client profiles, AI algorithms can examine a wide range of data sources, such as previous booking histories, travel trends, and even social media activity.
• Customized Deals and Services: Airlines can create customized offers once they have unique profiles in place. These customized deals increase passenger satisfaction and foster client loyalty.

3. Real-Time Demand Analysis: Real-time analysis and demand fostering generally fall under dynamic pricing, but they are also similar to personalized models.

• Analyzing Data in Real Time: AI systems monitor the market, demand patterns, and pricing strategies of rivals in real time to modify ticket prices. This guarantees airlines’ continued competitiveness and revenue maximization.
• Demand Forecasting: Artificial Intelligence is able to forecast changes in demand for particular flights and schedules. Then, airlines can modify their pricing to maximize income during busy periods or fill unfilled seats.

Marketing Model

AI is capable of analyzing enormous volumes of data to spot possible safety hazards, forecast equipment malfunctions, and support preventative maintenance, all of which increase overall aviation safety. As per reports, AI in aviation was estimated to be worth USD 686.4 million in 2022, and between 2023 and 2032, it is expected to grow at a compound annual growth rate of more than 20%. In order to manage air traffic and optimize flight routes, airlines and aviation corporations look for AI software solutions. Two key ways that AI influences marketing struggles in the aviation industry are: 

1. Targeted advertising: Many neighboring industries utilize AI to optimize their advertising procedures and make them more attractive to the right audience. With passenger services like chatbots and tailored suggestions, AI can bring in more customers and revenue to airlines while simultaneously boosting customer satisfaction levels.

2. Monitor emails: The majority of requests for private flights are made via email, which means that operators must perform the tiresome chore of reviewing emails once an hour. With the help of AI, team members can react to travel requests more quickly and arrange flight schedules more easily by sifting through emails and selecting those that best fit what the business has to offer.

The Future Of AI In Aviation

By now, it must be evident how useful AI is to the Aviation industry. Furthermore, according to research, it is predicted to grow at a 37% annual rate of growth between 2023 and 2030, reaching US$ 12.1 billion by the end of 2031. Some emerging trends and advancements to look out for are:

Autonomous Aircraft: By decreasing human error, boosting productivity, and possibly even enhancing environmental sustainability, the development of autonomous aircraft might completely transform air travel.

• Data security: As AI systems are used more frequently, there is a greater need than ever for strong cyber security defenses against online threats.
• Workers Adaptation: As AI technologies are integrated, the aviation sector will need to upskill its workers and create new positions that reflect the shifting job market.
• UAVs (unmanned aerial vehicles): These drones with AI algorithms installed can effectively scan large areas, giving security operations useful data.
• Predictive maintenance: AI systems that can precisely forecast the need for maintenance by evaluating data from sensors integrated into aircraft components by reducing downtime and enhancing overall safety; this proactive strategy assists airlines and maintenance teams in identifying any problems before they become more serious.
• Customer assistance: Customers may soon be able to utilize AI-powered devices like Amazon Alexa, which can be connected to an airline’s mobile app. After that, Alexa may be used to respond to queries, deal with typical issues, track flight statuses using their numbers, manage check-in requests, and find out if amenities like Wi-Fi are available while flying.
• Passenger identification Kiosks: It is anticipated that AI will be used soon to provide self-service flight check-in. Consumers will utilize this technology in facial recognition kiosks. It is anticipated to enhance customer satisfaction and enable quicker check-ins and client flow at the airport.

How Can Fingent Help Aviation Companies Explore Capabilities with AI Better?

Here at Fingent, we believe using emerging technology can help industries reimagine processes and find possibilities in impossible challenges. We enable organizations to look beyond digitalization and create innovations that change lives by providing them with easy-to-use and quickly implemented software solutions. 

Fingent combines the full force of its expertise in many facets of technology to bring you a solution that will fit your needs. This includes the power of augmented, virtual, and mixed realty, data analytics, network, and infrastructure security, and more. 

We use an agile process to create dependable, high-quality, reasonably priced solutions that have an impact. In addition to our well-known post-installation care, we provide excellent customer service and knowledgeable support from the beginning to the end of the implementation. Give us a call, and lets create a custom solution that will help your aviation business reach new heights. 

To reiterate John F. Kennedy, “Change is the law of life, and those who look only to the past or present are certain to miss the future.” 

The digital world revolves around evolution and change. It is constantly transforming from one stage to the next. Do you feel lost in this metamorphosis of digital transformation? Does the fervent adoption of advanced technology into business processes catch you off-guard and unprepared? 

We understand and want to help you navigate and thrive in this new era. Stay with us and continue reading. 

What Is Digital Transformation? 

Digital transformation is the process of utilizing digital technology to develop or modify current corporate practices, culture, and consumer experiences to meet shifting business and market requirements. The perks include better company agility, improved efficiency, and, eventually, the creation of new value for shareholders, consumers, and employees. 

According to Gartner, 87% of senior business leaders believe that digitalization should be a top priority for businesses, and 91% of organizations across the globe are currently involved in some sort of digital operation. To improve its client experience, a business might implement AI or cloud computing, for instance. Or it might change its supply chain to ensure machine learning is used more effectively. There are innumerable ways to digitalize your business and reap its many benefits. 

Why Is Digital Transformation Important? 

The pandemic changed the relevance of digital transformation almost overnight. From a way of enhancing customer care, it quickly became embedded into the core operational and innovative aspects of an organization. In this day and age, an organization’s sustainability may be in jeopardy if it fails to implement digital transformation. This is vital to satisfy the demands of the business landscape. As per Statista, digital transformation has been the leading priority for information technology (IT) initiatives for global companies since 2020.

Businesses are using digital solutions to help them customize their interactions, communications, and goods to meet the unique needs of their clients. For instance, a report by Gartner estimates that by the end of 2020, chatbots will power 85% of customer support. Here are some important reasons why businesses are adopting digital tech: 

• Improvement Of Customer Experience – Customer experience is at the core of digital. In order to enhance the customer experience, 92% of business leaders are developing sophisticated digital transformation strategies.
• Additional Data-Based Insights – The tracking and analysis of metrics are made possible by going digital. Making efficient decisions and increasing ROI can both be accomplished by using data-driven insights to better understand customers and re-evaluate business strategies.
• Competitive Edge – By developing new goods and services, entering new markets, and enhancing customer comprehension and service, digital transformation enables organizations to achieve a competitive edge. 
• Cost-Cutting – By automating procedures, reducing waste, and improving supply chain management, digital transformation lowers business expenses. A McKinsey study found that businesses that completely adopt Digital Transformation can cut costs by up to 50%.

Stages Of Digital Transformation

Digitization, digitalization, and digital transformation are the three major stages of the Digital Transformation process. A successful implementation requires businesses to move from one stage to the next seamlessly.

• Digitization – The transformation of manual (analog) information into digital format, enabling easy manipulation, storage, and transmission, is called digitization. It is the process of moving to a digital business. For instance, converting paper forms into electronic documents.
• Digitalization – Using digital technologies and digitalized data to enable or improve business processes is known as digitalization. For instance, using a marketing website, software, or mobile app to stay in touch with customers and employees is an example of how digitalization may modify an organization’s operating structure and provide new revenue and value-producing opportunities.
• Digital Transformation – The use of new and developing technologies to encourage sustainable innovation and creative expansion while making fundamental changes in an array of business-related areas. It enhances all aspects of the organization, including how employees engage with clients and how operations are carried out. For example, it collects insights from previous customer data, behavioral patterns, and purchase history to customize products and services offered. That is one of its many benefits. 

How To Discover Where Your Business Stands 

Legacy challenges are frequently overcome as part of digital transformation, but how effective is it? Measuring the progress of any effort with well-defined KPIs and metrics is the only way to know how far you have come.

Tips to measure the progress of digital transformation:

• Feedback from your employees and co-workers
• Track fluctuations in customer feedback
• Analyze the data across the different initiatives that you have implemented

Some additional metrics to track include:

• The degree of digital adoption
• Customer satisfaction rankings

Receiving feedback and measuring progress this way can help you locate where your business stands in its Digital Transformation process and improve your strategies to drive better results.

The Future Of Businesses In Digital Transformation

From using cutting-edge technologies to making strategic decisions, Digital Transformation is influencing businesses. It alters how firms operate, streamlining operations, boosting efficiency, and establishing a cultural shift. A prediction by International Data Corporation states that 75% of corporate executives will use digital platforms and ecosystem capabilities by 2025 to increase their platforms’ agility, efficiency, and sustainability. 

Here are some future trends in Digital Transformation:

1. Low-Code, No-Code

Low-code, no-code is a method of software development that calls for either very little (low-code) or no (no-code) coding at all. As per studies, low-code and no-code platforms will be used for more than 65% of software development by 2024. The market will be valued at $13.8 billion in that year!

2. Cloud Migration 

Cloud migration is the act of moving data and applications from one location, typically a company’s on-premises servers, to a public cloud provider’s servers. The four benefits of cloud migration are efficiency, accessibility, scalability, and security. 

3. Artificial Intelligence And Machine Learning

AI uses machine learning for data analysis and forecasting to guide efficient digital organizational strategies, personalize interactions, optimize workflows, and offer consistently dependable services 24/7. 

Strategizing An Effective Digital Transformation Journey

While undertaking such a big change, it is important to have a foolproof strategy to rely on. Following are a few aspects that you can consider during your digital transformation process: 

• Transformation Of Business Strategies – Technology becomes pivotal to business strategy in the aftermath of digital transformation. Operating expenses and inefficiency can be decreased with this strategy.
• Realigning Business Operations – For agility and experimentation, it is essential to transform corporate procedures and adopt new working methods.
• Adopting Novel Methods Of Agility And Experimentation – Modern engineering capabilities must be combined with new working methods as customer expectations and the rate of change increase. Successful digital transformation requires a fundamentally different strategy—one that values the accessibility of technology and the adaptability of people.
• Flexible Technology Is At The Heart Of Long-Lasting Change – Staying fluid and adaptable will enable you to more readily create ecosystem connections that foster speed and scale while also accelerating innovation within your organization.

Watch more: 7 Deadly Mistakes Non-Tech Businesses Make On Tech Projects!

How Can Fingent Help? 

Fingent is one of the leading solution providers in the world. We have been around since 2004 and have successfully transformed many businesses from traditional modules into digitalized success stories. 

Fingent has expertise in all the technologies that drive a successful digital transformation journey. Specialists in Cloud computing, Artificial Intelligence and Machine Learning, Virtual and Augmented Reality, and more come together to create a holistic digital solution for your business.

Talk with our Digital Consultants, who will analyze your unique requirements and work out a future for your business that is equipped to succeed in the digital age.