Category: Technology

Better businesses need better cyber security.
Regrettably, threats to cyber security have become the new norm across public and private sectors. The pandemic affected all types of businesses. If anything, uncertainties around remote working amplified cybercrime. As a result, cyber security’s importance has become more clear now than ever before.
As cyberattacks become more sophisticated, businesses will have to stay one step ahead. Security professionals need strong support from advanced technologies like Artificial Intelligence (AI) to protect their companies from cyber threats.
AI can enable security teams to handle greater and more complex threats than ever before. More specifically, it has proven to identify and prioritize threats. In some cases, AI has even taken automated action to quickly remediate security issues. This article considers how AI can redefine the cyber security needs of an organization.
Before we discuss further, let’s find out the impact cyberattacks can have on businesses.

How Cyberattacks Affect a Company’s Performance and Value 

Protecting a company against cyber threats is costly. It can impact the relationship between your company and your customers.
Unfortunately, cyber threats are never static. Millions are created each year and are becoming more and more potent.
In a survey conducted by Hiscox-Cyber Readiness Report, 28% of the businesses that suffered attacks were targeted on more than five occasions in 2020. Companies have lost millions to such cyber security breaches. Companies like financial services, technology, and energy were hit the hardest.
That is not all. Cyber security breaches have caused several other damages including:

• Outlays such as insurance premiums and public relations support.
• Operational disruption.
• Altered business practices.
• Business’s standing and customer trust.
• Stolen intellectual property including product designs, technologies, and go-to-market strategies.
• Legal consequences.

Read more: Quantum Vs Neuromorphic Computing – What Will the Future of AI Look Like!

How AI Contributes to Cyber Security 

Cyber threats are real and certainly worrisome to businesses. It is important to protect critical digital assets.
However, it takes planning and commitment of resources. With good security operations, you can stay on top of most of the most serious cyber threats. True, there may be smart thieves, but Artificial Intelligence can provide smarter security.
Here are 5 specific ways AI can contribute to cyber security:

1. Robust Zero-Day Malware Detection

Malware is unpredictable. And signature-based tools will not detect attacks that have never occurred before. Given that, is it possible to defend against something unpredictable? Yes!
AI is cable of grasping all the possibilities and finding relationships that traditional security tools would miss. While traditional security strategies have their place in cyber security, they are insufficient to detect and prevent zero-day attacks.
Zero-day attacks are best detected by automatically identifying aberrant behavior and alerting administrators immediately. AI can enable organizations to be more proactive and predictive with their security strategies.
Artificial Intelligence provides visibility and security for an organization’s entire data flow. AI helps organizations gain such visibility by dismantling each incoming file to search for any malicious elements. Simultaneously, it also looks at the user and network behavior and anomalies from expected activities.
Together with ML, AI adapts its behavior to new network conditions, constantly adapting to evolving security conditions. Even those hackers who use modern ML penetration methods cannot be fool AI-enabled cyber security.
We cannot stop security breaches from happening. But Artificial Intelligence helps organizations avoid potential disruptions before attackers wreak havoc.

2. AI Can Safeguard Large Amounts of Data

Whether a company is small or mid-sized, there is a lot of data exchanged between customers and the company every day. This information must be safeguarded from potential cyber threats. Cyber security experts cannot always inspect all the data for potential threats.
AI is the best option to detect threats to routine activities. Because of its automated nature, AI can sift through large amounts of data in real-time and identify any hazards lurking amid the chaos.
Read more: Artificial Intelligence and Machine Learning – The Cyber Security Heroes Of FinTech!

3. AI Takes Care of Redundant Cyber Security Operations

Hackers constantly modify their methods but the fundamental security practices do not change. Plus, they may weary your cyber security worker.
Artificial Intelligence takes care of redundant cyber security operations while imitating the best of human traits. It also does a thorough analysis of the network to locate security flaws that may harm your network.

4. AI can boost response time 

Ideal security is the one that can detect security threats in real-time. The principle of ‘a stitch in time saves nine’ applies here.
Integrating AI with cyber security measures is a sure way to detect and respond to attacks immediately. Unlike humans, AI does not miss a spot when examining your system for risks. Besides, it can detect risks early, thereby boosting response time.

5. Authenticity Protection

Most websites allow users to log in and access services or make purchases. You will need greater protection as such a site contains private information and sensitive material. To maintain customer trust, it is important to ensure all data about your guests remains safe while accessing your site.
Artificial Intelligence can provide an enhanced security layer. AI can secure authentication when a user wishes to connect their account. Login measures like CAPTCHA, fingerprint, and facial recognition are used to determine if the attempt is legitimate or not.
Read more: Safeguarding IT Infrastructure from Cyber Attacks – Best  Practices

Do Not Be Afraid!

Fingent is your reliable security partner. We provide professional security with reliable service. As a proactive security partner, we look ahead to ensure your business is successful far into the future.
Using AI’s real-time monitoring capabilities, we can spot potential issues before they become a major problem. Security experts Fingent are aware that cyber security threats are not limited to work hours. Our professionals here at Fingent software development experts will be there for your business whenever you need us.
We are in business today because of the reputation we built with our customers. We offer a unique level of enterprise IT support, and our clients can rest easy knowing that their business is always protected.
Give us a call and let’s discuss your security needs.

AI is not just a technology; it has become part of daily lives. Thanks to AI, we witness new kinds of development in each sphere of life every day. We can access many points with AI now more than we could ever before. From the research that we do on the internet to the goods that come to our doors, AI is directing our lives and business. It has solved many problems faced by humanity. And, revolutionized technology in all industries.
Coined at Dartmouth College in 1956, Artificial Intelligence (AI) gave succeeding generations a potential for information technology that can benefit humans in a profound way. Apart from bringing efficiencies, AI is also bringing new possibilities. These possibilities continue to create new models and opportunities for businesses that tap into them. Quantum and neuromorphic computing is the way forward.
This blog takes a deeper look into quantum and neuromorphic computing and explores which companies can benefit from these technologies.

A Look at The Future Of AI

The possibilities Artificial Intelligence can create are seemingly endless. Innovations are constantly taking place in the AI world. Given that, many business and information technology leaders are looking to better understand how it will affect their business now and in the future.
Taking a look at the future scenarios for how AI could evolve can help IT leaders demystify this emerging technology.  Two such technologies are called neuromorphic or quantum computing. They offer us a new way forward by fulfilling our AI-related dreams. The quantum computing market alone is expected to reach $2.2 billion by 2026, so it’s definitely worth looking into.
The future of AI also depends on improving the capacity of intelligent systems by using powerful hardware. Hardware such as neuromorphic computing and quantum computing will allow companies to build AI solutions that are extremely fast and can encapsulate more data and knowledge.
For example, a virtual assistant may now have the computing capacity to handle one or two products. But with more powerful hardware, it could cover more products. Advantages in this area are ongoing.
Let’s examine these in detail.
Read more: Answering The Top Burning Questions On AI Implementation For Businesses!

A Deeper Look into Quantum and Neuromorphic Computing 

Neuromorphic computation and quantum computing always seemed that they were years away. The fact is commercial neuromorphic chips and quantum computers are in use today. These two new technologies are going to change what looked like a straight path to Artificial Intelligence.

1. Neuromorphic computation

Neuromorphic computation attempts to imitate the way a human brain works. In simple terms, hardware and software elements of a computer are wired to mimic the human nervous system and cerebral system.
The goal of neuromorphic computation is to create devices that can learn, retain information, and make logical deductions just like a human brain does. It also attempts to imitate the human brain by searching for new information.
However, unlike quantum computing neuromorphic computing does is not that demanding. Where quantum computers need temperatures close to absolute zero, neuromorphic computers can easily work in normal conditions.
This increases its practicality and potential to integrate this technology in all kinds of devices.

2. Quantum computing 

Quantum computing deals with the world of atoms and subatomic particles inside those atoms. Unlike neuromorphic computation, quantum computing works on the principle of quantum entanglement.
So, the smaller the computer gets, the more powerful they seem to become. Quantum computing provided powerful new possibilities.
Though it is more complex than traditional computing, quantum computing opens the door to potentially solving very large and complex computational problems. It can potentially deliver a big computational upgrade for ML and AI computing.
Quantum computers will not replace traditional computers. Instead, they will require the support of traditional computers for their specialized abilities.
Read more: Driving Business Innovation and Success Through Sustainability

Industries That Can Leverage Quantum Computing and Neuromorphic Computation

1. Industries That Can Leverage Neuromorphic Computation

a) Aerospace and defense: Neuromorphic computing architecture can help in pattern recognition, event reasoning, and robust decision-making. It can also aid in adaptive learning and autonomous tasking for energy-efficient agile Air Force platforms.
b) Self-driving cars: Similar to space communications, neuromorphic computing enhances self-driving. In imitation of the human brain, neuromorphic chips attempt to think and learn on their own and then adapt their learning to unexpected scenarios on the road.
While conventional computers run commands sequentially, neuromorphic computers process and store data almost at the same time. This makes self-driving cars more energy efficient. It can also help autonomous vehicles learn skills and execute tasks more efficiently.
c) Healthcare: Neuromorphic platforms can be used for the hardware-based implementation of ML methods in treating Chronic Obstructive Pulmonary Disease (COPD) in home-care environments. Real-time analysis of data can be obtained by bringing data from the backend onto a neuromorphic chip.
Furthermore, securing sensitive medical data on a single chip complies better with patient privacy regulations. Since neuromorphic platforms process data near a patient, it offers a large fault tolerance for medical applications.
Moreover, hardware-based neuromorphic systems require less computational power making them perfect for PoC medical devices.

2. Industries That Can Leverage Quantum Computing

a) Aerospace: By considering an exponential number of variables, quantum computing could help determine the optimal alternative for each route. It can also help find the best way to allocate resources so that the crew and passengers are impacted as little as possible.
b) Healthcare and Pharmaceuticals: Harnessing the power of quantum computing can significantly accelerate the timelines of various stages of the pharmaceutical research and development process. It can help life science companies by accelerating the speed of the pre-clinical phase and reducing the cost of drug development.
c) Finance: Quantum computing will be able to help solve the problems of customers in finance institutes. It can optimize investment portfolios and financial derivatives. It can also enable the institutions to accurately characterize anomalous transactions and rapidly detect fraud.
d) Chemistry: It is likely that quantum computing can be applied to simulate the properties and behavior of new molecular structures in chemistry. It can address the probabilistic challenges of quantum mechanics. In the future, quantum computing is expected to predict molecular properties for new molecules.
Read more: Data and AI: How It Has Transformed Over The Years And Trends To Watch out For!

Conclusion

In the coming years, advances in Artificial Intelligence will reach the superintelligence stage. However, the transition to new technology has already begun.
Many companies are incorporating this unique fixture as it has helped them achieve better sales and forecasts. It has also provided them with growth opportunities. Fingent top custom software development company is confident that you would also benefit from implementing this in your business.
Give us a call and let’s discuss what is best for your business.

Businesses are always on the lookout for ways to optimize processes and gain greater visualization. When processes work efficiently, the output of the product is higher. This leads to workflows that run smoothly with minimum errors and higher capacity. A good reason for the growing popularity of process automation and visualization.
Automation and visualization are the future of the business strategy. Gone are the days of carefully filling in graph paper by hand. Today, process automation and visualization help enterprises up their game by allowing access to real-time models capable of accurately capturing the nuanced data sets.
In this blog, we will expand on how enterprises can up their game with process automation and visualization.

How Enterprises Can Up Their Game with Process Automation and Visualization

Data visualization enables human operators to manage vast sets of data, glean insights from different information sources, and perform operations more intuitively and strategically.
In the current data-immersed world, data visualization can significantly add value by conveying large datasets visually. What does this mean for your business? This means a better grasp of critical customer data.
According to the IDC, the collective sum of the world’s data is predicted to grow to 175 zettabytes by 2025. Processing such large amounts of data can become a problem.
By allowing automation and the right programs to sort out your business data, you can generate graphs. You will be able to use these graphs to up your game in business competition.
Data visualization offers businesses the hope of getting a grasp on data. Fortunately, the human brain can process and recognize trends, identify potential issues, and forecast future development from clear visual displays.
Read more: How Powerful Is Data Visualization With Tableau

Look Out for Upcoming Powerful Trends in Automation and Visualization

1. AI and ML

Artificial Intelligence and Machine Learning render visualization more accurate and efficient. These technologies enable businesses to handle customer feedback without bias. Process automation allows you to sort the feedback in real-time and according to your specifications.

2. Unlock Big Data with Data Democratization

Large amounts of data are hard to understand. It requires data scientists and other experts to unlock its treasures. Not anymore. Advanced no-code data analysis platforms can automate your data process. This is called the democratization of data.
Democratization of data leaves it malleable and easy to display allowing your employees any level of tech support. When this is paired with the data visualization type, it can unlock big data results for teams at all levels of your organization.

3. Video Visualization Is Here to Stay

Young and old alike tend to retain the information they see over what they hear.  This would mean that video infographics will be the future.
Video applications for business strategy and customer retention are key areas for future strategic data visualization implementation.

4. Real-time Visualization for Early detection

Knowing a problem at the exact moment it arises can assist businesses in customer retention and brand presence. Early detection can have a dramatic impact on the bottom line.
Process automation can help run a dashboard that allows users to submit their error reports to your customer support. Then the reviews can be tagged and analyzed using sentiment analysis.

5. Mobile Optimized Visualization

An increased number of people access the internet on their mobile devices. Your business needs mobile-optimized data visualization to stop customer churn.
It enables you to know if your potential customers are learning about your services through social media or an online review board. Though mobile-optimized visualization is an easy step, it is critical to keep your business on top of the game.
Read more: 7 Awesome Data Visualization Tools

Business Applications of Process Automation and Data Visualization

1. Financial Service and Insurance 

The finance service industry is a prime candidate for process automation and data visualization. Two top requirements of this industry are customer response time and compliance with strict regulations.
When automated, quick decisions can be made based on pre-defined rules like loan applications, claims processes. businesses can use data visualization to make reliable predictions or risk calculations in the financial industry.
Insurance fraud can cost billions of dollars damage.  Process automation and data visualization can improve fraud detection.
Read more: Deploying RPA for Finance, Healthcare, and IT Operations.

2. Distribution and Logistics

Process automation and data visualization can minimize costs by planning transport promptly, reducing costs of downtimes and maintenance.

3. Sales

Data visualization can greatly improve relationships with your customers. It helps you know the needs of your customers better, and address each of them directly in real-time.

4. Marketing

Data visualization and process automation can reduce marketing costs substantially.  These technologies can help evaluate the demographics, location, transactions, and interests of your customers. Visualizing these details can help you understand their purchase patterns.
Thus, data visualization can be used to create and target new customer segments. Cross-selling is another advantage. At the same time, data visualization may reveal that customers are dissatisfied. Identifying this and responding quickly can counteract the situation to retain your customer base.

5. Healthcare 

Process automation and data visualization enable cheaper healthcare. It can help predict disease occurrence and proactively propose countermeasures.

6. Science and research

Visualization enables the evaluation of the data of an experiment. Process automation and visualization can be advantageous especially when an experiment generates large amounts of data within seconds.

7. Production

Large amounts of data are generated during production. Using process automation and visualization can help plan preventive maintenance and prevent production delays or downtimes.

Prepare Your Business For The Future With Fingent 

Fingent helps enterprises automate document-based processes. We can help you create safer sharing and collaboration. Our platform allows you to create teams, assign roles and privileges, and streamline communication.
Fingent’s partner integrations allow you to use it together with your existing software. Our top-level measures protect our users’ data. The encryption we provide ensures content integrity and prevents alteration.
Fingent top custom software development company can help your organization reach the goal of paperwork elimination. Doing so can lead to efficient resource distribution throughout the organization.
What’s more, it reduces carbon footprint. Our experts bring along specializations supported by scientific rigor and in-depth knowledge of advanced techniques to design, develop, and deploy solutions for process automation and visualization.
Give us a call today and let’s get talking.

Despite the rampant economic implications of the COVID-19 pandemic, numerous small and mid-market businesses (SMBs) managed to survive the odds by embracing modern technology. With a cloud-first approach and a partnership-driven ecosystem, several SMBs demonstrated tremendous growth in these extraordinarily challenging times. Americas’ SAP User Group (ASUG) survey observes that most of their mid-market customers expect to grow at a rate of 56% over the next five years. If you’re an ambitious mid-sized business with a large-scale growth plan, it’s time to outgrow your accounting software and adopt a modern ERP platform.
Read more: How Organizations Can Gain a Competitive Edge by Implementing Digital Core ERP

Many small businesses hesitate to invest in intelligent ERPs due to high costs and technical complexities. Platforms like SAP Business ByDesign allow SMBs to oversee their whole business, improve compliance, increase cash flow, and expedite reporting. SAP Business ByDesign is a sophisticated cloud ERP software designed specifically for mid-market users. How does ByD enable your business to build a robust technology foundation and drive growth? Let’s explore this in this blog.

What is SAP Business ByDesign?

SAP Business ByDesign (ByD) is an integrated, on-demand, full-featured, cloud ERP solution that can run your entire business operations on a single platform. ByD is sold and operated as software as a service (SaaS) and is designed specifically for small to mid-sized enterprises as well as subsidiaries of large corporations. SAP Business ByDesign can integrate and manage all your core business processes such as financials, project management, human resources, procurement, customer service, sales, integrated business analytics, and supply chain, among others.
SAP Business ByDesign is built on the standards of service-oriented architecture (SOA). The platform attains integration between business capabilities via message exchanges. Multi-tenancy enabled SAP NetWeaver is the underlying technology stack of ByD. The platform leverages HANA, SAP’s in-memory database.
Read more: SAP HANA – The Game-Changing Technology 

SAP ByD Unifies Core Business Functions

SAP Business ByDesign works as an end-to-end business suite that unifies the following core business functions:

1. Financial Management 

ByD helps assess your company’s financial position in real-time. You can use the software to administer financial and managerial accounting for multiple operating units, currencies, and reporting paradigms. Using ByD, you can analyze your organization’s customer and supplier transaction data to better understand your cash position.

2. Customer Relationship Management

SAP Business ByDesign allows your business to efficiently manage your sales, marketing, and service processes. Personalized customer data enables marketers to run successful campaigns, improve lead generation and qualification, and expedite handover to sales. The software improves your account management by automating key sales functions, from contact interactions to billing. ByD equips your employees with the right tools and insights to deliver exceptional customer service.

3. Human Resources Management

SAP Business ByDesign simplifies employee onboarding processes. Employees and managers can use the software to access all the relevant information. ByD streamlines time, attendance, labor, and compensation management by centralizing data and self-service processes. Employees can self-manage their timesheets, personal data, and procurement processes. The software lets your payroll integrate with third-party payroll providers for faster processing. ByD also helps automate policy-compliant requests and approvals.
Read more: Choosing Between SAP Business One and SAP Business ByDesign

4. Project Management

SAP Business ByDesign helps manage projects of all sizes and complexities through real-time project collaboration and monitoring. If you’re using Microsoft Teams, you can directly access your ByD application from Teams.

5. Procurement

ByD helps maintain a centralized database to store supplier and product data. You can seamlessly manage multiple vendor contracts and negotiate better prices with real-time information. This saves your cost and time.

6. Supply Chain Management

SAP Business ByDesign streamlines customer and supplier collaboration with improved supply-demand matching. This ensures that the product design meets customer expectations and shortens the time to market. The software helps control your material flows and automates relevant processes across manufacturing, warehousing, and logistics operations. All these lead to better procurement planning.

Business Benefits of SAP Business ByDesign

Digital transformation is the prerequisite for an intelligent enterprise. With its ease of use, insightfulness, and openness, SAP Business ByDesign enables SMBs to drive digital transformation efforts successfully.
Read more: RISE with SAP – How Fingent Can Help Explore Business Transformation as a Service (BTaaS) 

Here’s how your business can benefit from SAP ByD:

• Offers built-in analytics to leverage real-time data across all operational areas. This supports intelligent decision-making.
• Anytime, anywhere access via web and mobile helps build an empowered, mobile-connected workforce.
• Scalable technology and quarterly upgrades ensure that your ByD platform is always up-to-date.
• Though designed for small and mid-sized companies, the platform comprises all the features and capabilities utilized by large enterprises.
• A highly configurable business management solution that requires minimal customization.
• One of the most cost-effective ERP solutions that reduces your operational expenses.
• Gain 360-degree visibility of your business, with instant access to reports on enterprise-wide operations.

Case Study: Fingent helped a real estate giant reduce manual work, improve TAT, and increase profitability by integrating multiple role-based mobile apps into their SAP ERP system. Download now!

SAP Business ByDesign Mobile Strategy Updates for 2022

The new SAP Business ByDesign mobile strategy 2022 aims to help customers access more preferred features on their smartphones without any complexity. Currently, SAP Business ByDesign supports five mobile apps – SAP Business ByDesign Mobile, SAP Manager Approvals, SAP Time Recording, SAP Project to Go, and SAP Project Cockpit. SAP will now focus on improving the SAP Business ByDesign Mobile App that integrates all these features onto a single platform. Following are the changes to note:

• Starting from August 2022, customers will be able to access all the ByD features using a single app, that is, SAP Business ByDesign Mobile App. No app swapping will be required anymore.
• From 1st May 2022, users will not be able to download and install SAP Project to Go and SAP Project Cockpit apps from the app stores.
• From 1st August 2022, users will not be able to download and install SAP Manager Approvals and SAP Time Recording from the app stores.
• By removing existing installations from your devices and switching to the Business ByDesign mobile app, you can access all these features using a single app. It accelerates your time-to-market and helps you benefit from streamlined business processes.

Experience Seamless Business Transformation with Our SAP Services

As more businesses switch to remote operations, there is an increasing dependency on mobile devices to ensure business continuity. It’s important for small and mid-sized businesses to focus on building a future-driven business model powered by cloud and connected technology. SAP Business ByDesign enables you to accomplish these goals easily. In SAP’s own words, “Business ByDesign connects every function across your company with proven best practices and in-depth analytics.”
Read more: How SAP ERP Software Implementation Benefits Your Business

Fingent top software development company has the expertise to customize and implement SAP Business ByDesign for all sizes of businesses, across verticals such as professional services, manufacturing, real estate, retail, logistics, and so on. Our cloud ERP implementation services help transform your organization into an intelligent enterprise. We are a Silver Partner of SAP with 18+ years of experience in implementing SAP services and solutions. Our goal is to help you adopt the right technology that solves your business challenges without any complications. Contact us to understand how your business can benefit from SAP Business ByDesign.

The property sector in the United States came to a crashing halt in March 2020, when the first wave of COVID-19 hit the nation. Mortgage rates dropped by 34%, affecting home buying and selling plans. Retail vacancy rates spiked up to 20% and commercial property loan delinquency rates soared up to 11.49% in Q2 of 2020. Months of shutdowns, social distancing regulations, traveling curbs, stay-at-home mandates, remote working, online shopping, and home delivery led to a drastic decline in occupancy rates and rents. People shifted their working spaces from office to home which slashed the demand for commercial rental spaces. The liberty to “work from anywhere” triggered a mass exodus from expensive urban areas to affordable suburbs and rural areas, lowering home value growth in metros.
All these challenges forced the property sector into urgent changes. Along with reconciling fiscal and monetary policies, real estate leaders must capitalize on property management technologies – specifically automation – to recover and rake in profits. Bitwise Industries observes that “the immediate need for innovation and automation is now a necessity to not only survive but to truly thrive in the real estate industry.”

Read more: What’s in Store for Real Estate This 2024

How does automation help a highly fragmented industry like real estate to manage multiple operations in one place and sync a horde of activities?

Automation in Real Estate: Fostering “All in One Place – All in Sync”

McKinsey’s survey identifies that automation and remodeling of work processes enable businesses to control costs and mitigate uncertainty during recessions. A real estate firm needs to efficiently coordinate multiple business functions such as managing buyers, sellers, and properties, contracting and leasing functions, property listing and tracking, finance and accounting, and so on. Automation helps sync and manage all these activities in one place. Here’re the top five real estate processes that can benefit from automation:

1. Optimize internal workflows

Automating internal workflows improves your team’s productivity. Having a well-synced project management system with up-to-date dashboards, real-time analytics, and reports, automated document flow, task reminders, deadline notifications, meeting schedulers, etc. can save your workforce’s time and improve their focus on value-adding functions.

2. Enhancing customer journey

Custom real estate software and integrated PropTech solutions allow customers to create, view and modify personalized wish lists, look up and find property information, and filter details based on different criteria. Realtors can leverage Virtual Reality techniques to improve customer experience by offering virtual tours, 360-degree property views, and 3D site plans. Integrating mortgage calculators, neighborhood descriptions, and an easy ordering process enables customers to buy, sell, or rent properties easily.
Read more: How Virtual Reality Can Transform Real Estate Operations 

3. Improve sales and marketing processes

Real estate marketers and salespersons can leverage automation to sync all their leads in one place, access lead information anytime on their phone, create custom client lists, save time with lead routing, automate drip email campaigns, set up activity-based email workflows, keep track of previous interactions, and send out reminders and updates to clients on time. All these lead to higher conversion rates.

4. Manage invoices and finances

Manual invoicing and payment processes consume your team’s valuable time and affect your organization’s scalability. Automated, all-in-one property management software allows you to centralize, oversee, and streamline the payment process without any paperwork. Automating financial management improves your processes with customers, partners, and suppliers. You can easily track orders, gain approvals, send notifications, and obtain real-time visibility into each transaction using the real estate management software.

5. Carryout field and property inspections

Leading property inspection software offers customizable templates and checklists for property managers, field inspectors, site auditors, and clients to schedule inspections, record on-site data, and auto-generate reports. Automating the whole inspection process reduces both manual errors and report submission time. This helps find out the quality and condition of a property (home), secure governmental approvals quickly, and fix the best price for the listed property.

Benefits of Real Estate Automation: A Quick Recap

• Streamline workflows and back-office tasks
• Reduce tedious paper works and manual jobs
• Improve focus on value-adding functions
• Monitor property managers and personnel dispersed across various locations
• Implement innovative ways to showcase and market properties
• Process invoices and payments on time
• Improve customer service and attract more buyers
• Eliminate supplier management hurdles

How Fingent Enables Real Estate Companies to Leverage Automation and Digital Technologies

We help real estate companies and property managers to prepare for a digital, data-driven, and sustainable future. Our projects demonstrate the value we deliver to the real estate industry.

#1. Rentmoji, The All-in-one Property Management Platform

Inefficient communication systems, disconnected business segments, and poor customer experience failed to deliver the expected ROI to our customers. They needed a single platform that centralizes all the aspects of the property management life cycle. This resulted in the development of Rentmoji, an all-in-one property management suite that helps streamline and manage diverse operations in the industry.
Analyzing the challenges faced by different stakeholders in the real estate business, we automated key processes and implemented top-notch security solutions. Rentmoji now serves as a robust single-source property management solution for residential rental properties (Single-Family Rentals and Multi-Family Rentals), CAM, and HOA management.

• The company grew from 2 to 160 employees within two years of implementing the software
• Customized portals and integrations for tenants, owners, and vendors
• Structured lead management process and extensive syndication
• Enhanced speed-to-market with cloud capabilities and automation

#2. End-to-end CRE Transaction Platform

An investment brokerage firm in the United States was struggling to adapt to the changing Commercial Real Estate (CRE) market demands. They required an integrated solution that will offer them real-time visibility into the performance of property listings and visualize data insights for brokers and investors to make better decisions. To help them realize the benefits of data-backed decision-making, we created a modern net lease trading platform. It improved their CRE transactions and sales. The customer can now manage 10,000+ listings via the trading platform and track 1031 exchanges effectively. They also have access to reliable ROI metrics based on current and future trends.

• Predictive analytics matches properties to investors’ preferences and expectations
• Projected revenue charts and financial summaries help business analysts
• Place and manage offers on multiple listings and update them on the fly
• Brokers can use the application to easily demonstrate listings to prospective buyers

Leveraging the Latest in PropTech to Navigate the New Normal

The global pandemic emphasized the need for all aspects of real estate to embrace technology. Buying software to merely run your operations remotely isn’t enough. Technology capabilities should allow you to generate value and respond swiftly in a pandemic-afflicted economy. 58% of real estate organizations struggle to integrate their legacy applications with innovative tech solutions. It exposes these businesses to major financial and operational impediments. Fingent custom software development experts aims to help such businesses by bridging their technology talent gaps and developing all-in-one, integrated, custom PropTech solutions.

Robotic Process Automation (RPA) is not just a “nice-to-have” option anymore. If you want to remain competitive it is an absolute necessity.
As a most promising technology enabler, RPA helps improve speed, quality, and productivity. RPA strengthens the organization, ensuring that it is ready to deal with disruption and change. This blog will discuss how it is making a mark in Finance, Healthcare & IT operations.

What Is RPA?

Robotic Process Automation (RPA) is an end-to-end approach that can automate workflows without the intervention of a human being. This approach allows users to configure software that enforces business processes.  RPA software can collect, interpret and orchestrate applications to perform various repetitive tasks.
RPA is a technological breakthrough for industries like finance, healthcare, IT, telecommunications, banking, insurance, retail, property management, and many more. Industries that implement RPA can automate their workflows, infrastructure, and other labor-intensive and time-consuming processes.
RPA is both cost-effective and user-friendly. It is no surprise, industries are racing to unlock value from RPA, including digital labor.
Watch now: How Robotic Process Automation Is Building Better Workplaces

How Is RPA Revolutionizing Industries?

• Increased Accuracy: Bots are less prone to make mistakes or typos than human workers.
• No interruption of workflow: Virtual robots can operate 24/7 without staff initiation.
• Meet strict compliance standards: Configured bots can provide an audit trail for each step and retrace the steps, in case of a process review.
• Work with existing systems: Robots do not need extensive IT resources; they work with the layers of existing applications.
• Improve employee morale and experience: Bots offload manual tasks from employees and enable them to focus on strategic, revenue-producing activities.

These advantages sound good. But, how does this ‘digital worker’ (RPA) streamline business processes? Let’s see.

How Can RPA Streamline Processes?

1. Employee Onboarding

Employee onboarding is a costly and time-consuming process.  Zippia’s research showed that the average cost per hire is $4,425, or 40% of an employee’s base salary. Not just that, it takes about 36 to 42 days to complete the onboarding process.
Fortunately, RPA can reduce both the cost and the time taken to onboard an employee. How can it do that? It can do it by automating all repetitive and rule-based tasks.
For example, a bot can accurately source an applicant 24/7, and without any bias. After which, it can assist in screening resumes and candidates. Further, a bot can handle much of the paperwork that the company needs to fill out.

2. Auditing

Although audit practice has improved over the last 30 years, a massive amount of manual, repetitive, and rule-based tasks still take up much of the auditor’s time.
Examples of these tasks include file organization, the performance of basic audit tests in excel, manual annotations, and many more. These tasks are not only labor-intensive, but they are also prone to error.
RPA offers the ability to connect otherwise unintegrated audit activities. In addition to the obvious time-saving benefits of RPA, there are financial advantages. For instance, PwC estimates that 45% of repetitive work can be automated, and this would save $2 trillion in global workforce costs.
Beyond simple cost savings, automation can enhance an auditor’s ability to do his job. By freeing up an auditor from mundane, repetitive tasks, RPA allows them to focus on the more complex aspects of their job.
By sifting data more accurately than human auditors, RPA can help human auditors to scrutinize whether an accounting treatment or client behavior is reasonable. With such improved efficiency, auditors can make a final determination about optimizing costs.

3. Invoicing

Invoice processing is a crucial business operation. Yet, these tasks are labor-intensive, error-prone, and do not directly generate revenue. RPA is designed to manage such tasks effortlessly and efficiently.
For instance, when invoices come through various channels, they have to be matched to purchase orders, and then most often, they need to be approved by different people for payment.
RPA allows you to automate the purchase order matching process to flag any errors for further scrutiny before submitting the payment. You and also create rules to send invoices to the right people for approval automatically. RPA can automate all the data entry and manual processing involved in accounting and finance.
These are just a few examples that show how RPA can drive faster response and improve business processes.
Now that we understand how RPA streamlines processes, which of the top industries benefit from adopting RPA?
Read Whitepaper: Learn how RPA can bring a difference to your business and give you a competitive edge!

Top Industries That Can Benefit 

Some industries that think automation is a costly effort have witnessed early adopters of RPA outperform the rest of the businesses with an increased ROI. According to Gartner, the RPA market is expected to grow at double-digit rates through 2024.

1. Robotic Process Automation in Finance Sector

Finance sector applications include managing customer accounts, migrating data between accounts, updating loan and mortgage data, and more. Just by defining the rules, Robotic Process Automation can help financial services to meet compliance standards.
RPA technology is accurate. Hence, it significantly reduces risk in the finance sector.  Faster RPA cycles are highly scalable and rapidly deployable.

2. Robotic Process Automation in Healthcare 

The pandemic has increased the volume of patients substantially, and healthcare industries are prioritizing efficiency and cost reduction. These two are major benefits of RPA implementation in the healthcare sector.

• Improved quality: RPA implementation automated and simplified entry process, claim process, maintenance of medical records. This enabled healthcare personnel to tackle the large volume of patients, especially those who need individual care and attention.
• More human workforce to care for more patients: RPA implementation replaced the workforce that performs mundane repetitive tasks. Healthcare professionals now have more time to spend on core activities rather than perform mundane tasks.

3. Robotic Process Automation in IT

Today, business operations depend on how well the IT system is managed. Leveraging RPA in IT operations is worthwhile. Consider why:

• Helps manage high volumes of data: Managing high volumes of data from different locations and different departments can be challenging. In contrast, RPA can process large datasets with greater agility, and complete the process faster and with no errors. Moreover, Robotic Process Automation systems can also update changes in the data in real-time.
• Enhances customer experience:  Employees are required to respond to any inquiry adequately and on time. Anything less could push your customers to your competitors. Automating repetitive tasks frees up agents to focus on more customer-related tasks such as pitching in a sale or providing end-to-end product engineering solutions.
• Better patch management: Manually patching IT systems is always a bad idea because it leaves more room for errors and is time-intensive. Implementing RPA can help synchronize the vulnerability database, scan machines for missing patches, and deploy the missing patches. This way automation ensures that the system is always protected.

Read more: Drive business growth with RPA!

How Fingent Can Help Deploy RPA Seamlessly

Successful implementation of Robotic Process Automation depends on a clear understanding of the task at hand. At Fingent we can make the implementation a lot easier. We can help you automate parts of your process or the entire thing.
With automation under one wing and cognitive technologies under the other, Fingent software development experts ensures you are in complete control. We can help you discover new, effective automation ideas. As a professional partner, we help you identify your strengths and areas of improvement and then work with you to build an action plan with tactical and strategic solutions.
Fingent also provides both onsite and offsite training and maintenance to ensure you get maximum ROI. Give us a call and let us help you get this rolling.

Educational institutions were among the most impacted aspects of society when the coronavirus unleashed its hold on the world. Over the course of 18 months schools, colleges, and universities all around the world have faced more than their fair share of problems. No matter how difficult adapting to a completely different mode of teaching and learning is, many institutions faced the challenge head-on, pivoted, and caught up with the rapid change successfully.
In this blog, we will examine the challenges that loomed in front of the admission and college selection process and how rising technologies like VR & AI have helped tremendously in successfully dealing with these challenges.
Read more: The future of Augmented Reality in EdTech!

The Pandemic – A Massive Challenge for Students 

Transitioning into the university lifestyle is usually a very significant part of an individual’s life brimming with feelings of anxiety, trepidation, and excitement. Adding into this already complex intersection of negative emotions, the aggressive transmission of COVID-19 has altered the higher education landscape on a colossal scale.
The pandemic created exponential threats to a student’s experience of streamlined higher education.  Poor psychological outcomes, increasing levels of social anxiety, inducing feelings of lethargy, and reducing overall academic performance are predicted in the recent college students. To top it all, new applicants are facing the most difficulty deducing if a college is a good fit for them or not without ever entering the campus because of the pandemic restrictions.

Admissions and the College Selection Process During The Pandemic 

The pandemic has forced universities and colleges to alter admission policies in recent years. There are constant updates in admission procedures that everyone must be aware of, whether it’s the extension of application deadlines or a change in how the admissions department will be evaluating applications.

1. New Selective Process 

Many institutions dropped stereotypical testing methods and canceled extracurricular activities, and admissions counselors have changed how they examine and evaluate applications. Admission staff are encouraging potential students to showcase their caliber, personality, and passions during admission, particularly how they pursued the latter accompanied by a world plagued by COVID-19.

2. Efflux Of Applications 

Since most popular universities and colleges decided not to consider SAT/ACT scores, they have faced a surge of applications creating greater diversity in the application pool. This hope is slightly misleading. Theoretically, it may seem as though the students have a good chance at admission, but this does not always translate into reality as these institutions still remain very selective.

3. Prosperity In Medium-Level Institutions 

A great number of students who didn’t find acceptance in popular institutions found their hope in Medium-Level Institutions 

4. Travel Restrictions

Due to travel restrictions, colleges provided online platforms for applications and even conducted interviews for admission through online mode.

Decrease In College Enrolment and Its Effects 

Although universities and colleges have tried their maximum to keep admission procedures streamlined, College enrolment has seen a massive slump due to the pandemic. There is a drop of almost 1 million college students enrolling in higher education since before the pandemic began. Compared with the fall semester before the pandemic in 2019, undergraduate enrolment has dropped a total of 6.6%, representing the largest two-year decrease in more than 50 years. Thousands of students, many from low-income families were forced to delay school or drop out because of the pandemic and the economic crisis it has created.
Health and economic factors play into why hardly any students are enrolling in college during the pandemic and why people are opting for better-paying jobs instead of spending money on college. Given that cost is still the biggest obstacle, it isn’t surprising that prospective students suggest “free college” for a bigger impact on them finishing or returning to college – a very interesting insight that legislators are currently debating on.
The impact of having students not enrolling in college affects their individual earning potentials, as well as the economy of the country. Research shows that getting even a simple post-secondary education can lead to higher wages, lower unemployment, and greater lifetime earnings. Without this, fewer people graduate with the skills, credentials, and degrees required for a higher-paying job, which means unemployment for the student and a lack of a skilled workforce for the community.
Read more: Answering the top burning questions on AI implementation for businesses!

The Timely Rise Of VR & AI 

“Change is inevitable and the disruption it causes often brings about new opportunities.”
Virtual Reality (VR) and Artificial intelligence (AI) are two cutting-edge technologies on the rise today. Their practicality has been proven in a number of fields and in the midst of the pandemic, these technologies grow greater.
Higher education administrative processes have started using AI to recruit, admit and enroll students. It acts as a powerful instrument in nurturing innovation and entrepreneurship in universities and it can accurately estimate demand, which means it can predict with precision how many applications to accept to achieve prime enrolment numbers.

Here are a few ways how AI helps: 

• AI-backed software scores an applicant against a set of significant factors based on past applicants and builds software for higher education. This is comparatively easier and faster than admission officers assessing each and every application on their own.
• AI eliminates situations where an admissions officer might know an applicant and be biased, robotically flagging a personal connection that exists between two parties.
• AI can customize, speed up and personalize the admissions process for intercontinental students, including visa processing, housing selection, and course registration.
• AI has the latent to create interventions for students suffering from homesickness or social isolation and is thereby an important tool for student welfare, ultimately attracting more student applications.

#1. How Fingent Utilized AI-enabled Chatbots To Create Enhanced & Engaging Learning Experiences

Fingent helped the University of North Carolina develop an AI-driven ecosystem powered by IBM Watson that facilitates students to interact with an AI-enabled Teaching Assistant(AiTA). Multiple Chatbots are set up to manage a wide range of student inquiries. Also, important documents and teaching materials are uploaded with keyword and tag searches to make them easily accessible. The environment enables to create a healthy student-teacher relationship, instruct and engage students effectively, and improve students learning experiences.

Virtual Reality on the other plays a major role in providing a mode for students to experience the campus without even stepping into the college or university with Virtual Reality Campus Tours. At Fingent, we were able to capitalize on this for our clients. By applying the latest mobile technology and 360-degree panoramic video abilities, we helped build apps that swiftly connect students with campuses of their choice through their mobiles, reforming and simplifying the complete search process. Deploying Virtual Reality to innovate campus visits is also helping increase admission rates from underprivileged areas of the country, allowing students to seamlessly find the right courses and campuses from anywhere!
Here are a few ways how VR helps: 

• A VR package allows overseas students to get a sense of what the community and campus are like.
• It creates a high-quality image of the college and by using cost-effective devices like Google Cardboard, keeping costs in check becomes a less daunting task.
• With the help of VR, you can give enrolled students (who have not already seen the campus) a more profound sense of campus life and community. The idea is to charm them to make time for an in-person campus tour.

#2. More On Gear Up – Deploying VR For Campus Visits

GEAR UP is a virtual reality-based app that helps high school students experience a college campus through Virtual Reality and 360 Video. GEAR UP creates direct connections to college campuses and curates the college choice process. It empowers individual exploration and is completely free to download, making it easily accessible. It invites students to explore colleges and focuses more on first-generation students. The Introductory videos are anticipated to assist students in finding a suitable college to fit their interests and give them a sense of where they might want to attend. GERA UP is created as an initiation to help increase the number of students from low-income backgrounds who seek to obtain a secondary or post-secondary education.

College admissions, learning experiences, and in a way, the entire education industry is on the brim of a massive revolution. Deploying technology seems like the only way to tackle the ever-growing challenges and adapt to the fast-evolving world. It’s time now to step into digital transformation. Connect with us today and partner with one of the leading custom software development and technology consulting companies!

Technology trust is a good thing. Traditional approaches focused on establishing a strong perimeter to keep the bad guys out are no longer enough. In today’s digital world, Zero Trust Security is an approach that is essential for every business that has an online presence. Zero trust is a holistic and strategic approach to security that verifies every person and device that is granted access and confirms who and what they say they are. This blog explains why there is an increasing need for app security and 7 reasons why businesses need the Zero Trust Security paradigm.

Is There an Increased Need for App Security?

Cloud environments host business-critical applications and data, making them vulnerable to attack by hackers who would like to steal, destroy, or hold hostage sensitive data for personal gain. Though the security strategy is not perfect, Zero Trust reduces the attack surface and limits the impact and severity of the attack.
Functionalities in an application increase its vulnerability to an attack and the frequency of the attacks also increases. Identifying vulnerabilities and security threats early on can save a lot of time and money for businesses. App security lowers the number of vulnerabilities, increases efficiency, and improves the speed of detection and time-to-fix.
Watch now: How InfinCE – an infinite cloud platform, is empowering industries with secured next-gen cloud technology!

7 Reasons Why Businesses Need Zero Trust Security

Zero Trust limits the scope of damage if credentials are compromised, or if the firewall is breached. This paradigm secures remote work better than conventional methods. It improves productivity and organizational agility. Here are additional reasons to consider:

1. Increased Cyberattacks

When organizations rely on a single sign-on (SS)) verification method, ensuring people are who they say are may become difficult and risky. To avoid this security gap, SSO should be balanced with other technologies like Multi-factor Authentication (MFA).
In the last few years, MFA has become easier and smarter. While SSO and MFA together create a tight web of security around an organization, they fail to provide a smooth end-user experience.
That is where Zero Trust Security comes in. Zero Trust is based on the assumption that “nothing” and “nobody” are to be trusted.  Using AI and ML in Zero Trust models, organizations can start to learn the normal behavior of their employees. These enable organizations to detect any deviation from their regular pattern and block an employee’s access until he is being verified.

2. Cybersecurity Workforce Outpace Supply

The success of Zero Trust depends on continual monitoring and analytics. When you use automation to evaluate access requests you can judge those requests based on the key identifiers and then automatically grant access. The IT department need not be involved in approving each access request, but look into it only when the automated system flags requests as suspicious.
How can this be of significant benefit? According to Cybersecurity Workforce Study, 2021, 60% of the participants reported that the shortage of cybersecurity staffing is placing their organization at risk. Despite the influx of 70,000 professionals into the cybersecurity workforce, global demand for cybersecurity professionals continues to outpace supply. So, if you can safely automate, you can reduce human resources, and your existing team can devote their time to innovation and improvement.

3. Heightened Security Measure Require More Security Teams

The Zero Trust optimizes your existing security team because it uses a centralized monitoring system. With it, your team can easily generate reliable data and gain insights. As a result, you can maintain a more secure environment even with reduced security staff.

4. Cloud Environment Require Shared Cybersecurity Responsibility

Businesses are moving their critical applications and workloads to the public or hybrid cloud. Given that, cybersecurity leaders must reconsider the security measures they have in place. The cloud environment requires a shared responsibility model. In the Zero Trust model, certain security aspects are provided by the cloud vendor, and others are cared for by the enterprise.
Read more: Why Is Cloud Security Important What Are The Best Practices to Ensure Cloud Security

5. Network Is No Longer a Secured Enterprise Network

Work From Home has necessitated intense use of the cloud. This means the internet network is no more secure. The conventional security measures and visibility solutions are no longer practical or robust enough.  Zero Trust rests on the foundation of the “always-verify” principle. It offers complete visibility both in data centers and the cloud.

6. Everyone Need Not Have Elevated Security Privileges

In this digital-first age, users who access an enterprises’ applications and infrastructure are not just employees or customers. Vendors who are servicing a system, suppliers, or partners could also be accessing privileged data.
None of these non-employees need such access. What more, not all employees need access to every application, infrastructure, or business data. A well-executed Zero Trust strategy enables businesses to precisely control access based on key dimensions of trust.

7. Work From Home Increases Security Risks

In the post-pandemic era, Work From Home (WFH) has become the new normal. Location-based security technologies like the company’s headquarters are no longer relevant. Unsecured wi-fi networks and devices increase security risks. Assuming that their employee’s WFH setups and environments are not as secure as the office, businesses must depend on the overreaching system like a Zero Trust framework.
Work devices are traditionally managed, patched, and kept up-to-date with security tools and policies, not so with BYOD (Bring Your Own Devices). Some employees may forget basic cyber hygiene skills. The Zero Trust Security can control the potential for a security breach as it enforces access controls at every point within the network.
Watch now: Shifting to a remote work environment? Learn why InfinCE makes the best remote work companion!

Adopt Zero Trust Security 

Zero Trust Security paradigm ensures each request undergoes evaluation based on micro-segmentation of user types, location, and other identifying parameters. Only after such intense scrutiny does it determine when to trust, what to grant access to, and how long that access should be enabled.
Zero Trust Security returns immediate gains through risk reduction and security control. But there is more. It improves visibility, increases productivity, makes better use of your IT resources, and facilities compliance. In a nutshell, Zero Trust Security helps your organization build strength and resilience.
Decision-makers and security leaders of an enterprise should consider leveraging robust layers of defense through the Zero Trust model. Zero Trust Security tightens controls over access to information through network perimeters and the implementation of strict authentication measures.
Security experts at Fingent are working with the Zero Trust model and have honed their skills in providing bulletproof security for our clients’ systems and networks. Give us a call and see how we can help you.

“The human language, as precise as it is with its thousands of words, can still be so wonderfully vague.” – Garth Stein, American author.
Human language is unique and complex. Encoding human language is considered a difficult task. For starters, you can arrange words in infinite ways to form a sentence. Also, each word can have several meanings. Training machines to communicate as humans do is a gigantic task. In recent years, Natural Language Processing (NLP) enabled computers to understand human language and respond sensibly. It is the intersection of computer science, linguistics, and machine learning.
NLP is the driving force behind technologies, like virtual assistants, speech recognition, machine translation, and much more. This blog discusses the importance and top benefits of NLP. It will also explain how businesses can foster the power of NLP.

Importance of NLP

Machine translation is the most widely used NLP application. NLP methods enable the machines to understand the significance of sentences, thus improving the effectiveness of machine translation.
NLP is important for businesses as it can detect and process massive volumes of data across the digital world, including social media platforms, online reviews, and others. Also, NLP technology is able to offer businesses valuable insights into brand performance. It can also detect any persisting issues and take necessary risk mitigation measures to improve performance.
NLP can achieve all of this by training machines to understand human language faster, more accurately, and in a reliable way. Because NLP can monitor and process data consistently, brands can remain updated with their online presence.
NLP is a valuable asset for sentiment analysis as it helps businesses recognize the sentiment of their customers from different online posts and comments.

Top Benefits of NLP and How Businesses Can Foster the Power Of NLP

1. 24/7 Go-To Customer Support

AI-based chatbots use NLP to help customers get immediate answers to any query 24/7. What if the queries focus on the same themes? Chatbots can play the role of a customer service executive by using predefined answers. They can even provide specific support like booking a service or finding a product. Thanks to NLP techniques that analyze specific words, chatbots can now detect a user’s intention.
We live in an era where a person looks for an immediate answer to his question. If not, he switches to a competitor. Chatbots are the perfect solution! They can even convert prospects into a customer by providing ultra-attentive service.
Read more: 5 Leading NLP Platforms that Support Chatbot Development

2. Save Resources

A business is successful when it begins making a profit. It was predicted that NLP-powered chatbots will save businesses over $8 billion per year. It can free up employee time, allowing them to focus on the creative tasks that engage customers and boost your bottom line. What’s more, NLP-based software can be improved automatically, often without investment.

3. Moderate Content on Websites

Businesses can use NLP technology to enforce spam filters and block unwanted content on websites and in email. It enables you to maintain your forum’s quality while avoiding unsolicited advertising, controversies, or backlinks to malicious sites.
Furthermore, the NLP model can even detect hate speech. How is that possible? Advanced NLP models can learn to read the context of a sentence and classify it into the appropriate group. By using the appropriate token, the NLP model can read a user’s emotions. This unique technology allows you to tailor the solution to a specific audience or place, as the language may differ from place to place.

4. Boosts Conversion Rate

Converting site visitors to customers is the key for businesses and NLP solutions are experts in conversion optimization. Along with the chatbots, features like auto-complete text and more advanced search functionality aid in conversion optimization.

5. Enhances End-User Experience

As you may have already noticed from the above points, NLP technology improves the end-user experience. The growth of your business depends on your users having positive experiences throughout their customer journey. And all these factors have an impact on whether they will talk to others about your products or services.

6. Empower Your Employees 

NLP solutions are AI-based. So, NLP software can handle the most time-consuming, routine tasks like answering repetitive questions, scanning documents for keywords and filtering them, spell checks, and many more. When these tasks are automated, you will see employee satisfaction shoot up, job engagement improve.

7. Search Engine Optimization

Every business wants to rank high. NLP solutions can analyze search queries to identify and suggest related keywords. Doing so saves time spent on research, and you will be able to better target customers and create more focused campaigns. As a result, your company will become more visible.

How NLP Is Transforming The Future 

NLP regulations are advancing speedily like never before. Experiments are conducted to help the bots remember details associated with an individual discussion. We are likely to reach the developing level shortly. Though NLP technology is far from perfect, it is definitely getting harder to tell whether we are talking to a human or a machine.
We are living in an era where machines can communicate with humans. Hence, NLP utilization possibilities are endless. Businesses are expected to reap are staggering future benefits. NLP market size is anticipated to reach 35.1 billion by 2026 at a CAGR of 20.3% during the forecast period. As seen above, NLP improves the quality of life by a significant margin. As the world revolves around automation, we can expect NLP to affect more and more aspects of our lives.
Read more: Using Technology to Build Customer Trust: Your Business Plan for 2022!

How Can Fingent Help Deploy NLP?

As businesses increasingly talk to their customers in their own language, the demand for NLP modules is steeply rising. In a world filled with time-pressed shoppers, businesses are expected to get things right the first time. NLP can get you there.
Fingent top custom software development company helps businesses master e-commerce personalization with content, discovery, and engagement. We can help businesses with their use of chatbots or automation for sales, customer support, brand engagement, and human resources. Fingent can also provide a host of apps and analytics dashboards for the holistic management of multilingual customer interactions. As you can see, the possibilities are endless.
Let’s talk and identify which powerful features of NLP your business will benefit most from!

Over 95% of businesses struggle to manage unstructured data in their day-to-day operations. Inability to decipher data prevents them from navigating the market successfully, making business forecasts, and customizing their offerings to match the changing market trends. This proves why data analytics is crucial in enterprise strategy planning. By 2030, the global big data and analytics market value is expected to touch $684.12 billion. As more companies embrace data analytics to enhance customer experience, optimize existing business processes, and lower costs, it’s important to take note of the data and analytics trends that will hold the reins in 2024 and beyond.
Here’re ten trends to behold:  

1. Scalable and Responsible AI

Research and Markets report that AI makes analytics 48% more effective for industry applications. Traditionally, artificial intelligence (AI) techniques were applied to analyze historical data. However, unpredicted events such as the COVID-19 pandemic increase the demand for real-time data analysis. Adaptive machine learning promotes scalable, responsible, and intelligent AI that offers insightful business analytics even with smaller datasets. Scalable AI will enhance learning algorithms, reduce time-to-value, and make business systems and data more interpretable. AI integration will increase the precision of data analysis in 2024.
Read more: 6 Ways Artificial Intelligence is Driving Decision Making 

2. Hybrid, Multi-cloud, and Edge Computing

According to McKinsey, 70% of companies will adopt hybrid or multi-cloud technologies and processes by 2022. Hailed as the hallmarks of distributed IT infrastructures, multi-cloud management and edge computing enable companies to extend their computing capacity to the edge of their networks. This allows businesses to reach more data-hungry devices as the data is analyzed locally, close to the data source. Edge and multi-cloud reduce latency and improve decision-making with advanced, on-demand analytics. Today, every business generates volumes of unstructured data. Relying on traditional batch-based reporting to analyze big data cannot help anymore. 2024 will see the rise of distributed cloud models powered by hybrid, multi-cloud, and edge environments.
Read more: Future-proof Your Business with 5G, Edge Computing, and Cloud

3. Data Fabric Architecture

Data fabric architecture supports businesses to seamlessly navigate the complex digital business landscape that generates a lot of unstructured data every minute. It allows organizations to adopt a modular approach, known as composability, through which organizations can integrate new capabilities or features as low-code, reusable, individual components. Unlike the traditional monolithic architecture, composability allows businesses to integrate new features and changes to their enterprise applications without redoing their tech stacks. According to Gartner, data fabric reduces the deployment time by 30% and maintenance time by 70%. The ability to reuse technologies and capabilities from numerous data hubs, data lakes and data warehouses is expected to go a long way in tailoring analytics experiences.

4. Data Democratization and Self-service Analytics

The rise of low-code/ no-code digital platforms is accelerating the shift to self-service analytics. These platforms empower non-technical business users to access data, garner insights and make faster decisions. Today, self-service analytics is improving business response, enterprise agility, speed-to-market, and decision-making. InfinCE, a low-code workplace orchestration platform enables seamless team collaboration by extending your ability to integrate multiple business apps. Its data-powered business dashboard software supports marketers and non-technical users to analyze data, glean insights, track KPIs, and make strategic decisions. As data becomes the key to unlocking business value, 2024 will see the democratization of data extending beyond the realms of technical analysts and data scientists to ensure better inclusivity.

5. XOps 

The merger of development (Dev) and IT operations (Ops) has given rise to the “Ops trend.” The list of acronyms with the suffix Ops is expanding pretty fast. XOps aims to bring all these terms (DevOps, DataOps, MLOps, ModelOps, etc.) under one umbrella to advance automation and AI adoption, and minimize the duplication of technologies and processes. XOps enables data and analytics deployments to function effectively in tandem with other software fields. In 2024, more data analytics experts will start using XOps to operationalize and automate their processes in conjunction with the software development cycle. This eliminates data management and insights generation challenges from the very beginning of software development. XOps will augment the power of enterprise technology stacks to deliver high-quality on-demand analytics.
Read more: DevOps: Building a New Culture of Software Development and Delivery 

6. Graph Analytics

Gartner estimates that by 2025, 80% of data and analytics innovations will be crafted using graph technologies. Graph analytics employs deep learning algorithms to correlate multiple data points (entities such as people, events, things, locations, etc.) scattered across various data assets by exploring their relationships. This offers businesses a holistic understanding of the market, customer segments, consumer preferences and behavior, logistics, and risks. Graph analytics improves contextual understanding which enables businesses to identify problems and address them faster. SAP HANA is a leading graph database that comes with built-in processing engines to perform context-based data search. It allows users to access the correct data quickly. In 2024, graph technology will be used widely in search engine optimization, fraud and identity detection, supply chain logistics, social network analysis, and so on.
Read more: SAP HANA Helps Unlock Massive Health Data 

7. Small and Wide Data

Until 2020, historical data replicating past conditions was enough to train AI and ML models. Disruptions caused by the COVID-19 outbreak have made such past data obsolete. It means that data analytics professionals should find new ways to use the available data more effectively. “Small data” and “wide data” techniques reduce the volume of data required for training AI models and help extract more value from diverse and unstructured data sources. By 2025, 70% of organizations will switch from big to small and wide data, improving contextual analytics and making AI systems less data-hungry.

8. Decision Intelligence

Decision Intelligence (DI) is a data analytics discipline that analyzes the sequence of cause and effect to create decision models. These decision models visually represent how actions lead to outcomes by observing, investigating, modeling, contextualizing, and executing data. DI helps make faster and more accurate decisions that result in better outcomes. Gartner forecasts that in the next two years, one-third of large corporations will leverage DI to augment their decision-making skills.

9. Generative AI

Generative AI is an artificial intelligence technique that uses existing text, images, and audio files to generate new content. This technique proves to be highly useful in producing new and authentic data that mimics the original in data-scarce situations. Generative Adversarial Networks (GANs) and Variational Autoencoders (VAEs) are the two key technologies that support Generative AI. By 2025, generative AI will account for 10% of all data produced, up from less than 1% today, states Gartner. In 2024, Generative AI is expected to augment targeted marketing, drug development, and software code creation.

10. Natural Language Processing

If you’re using Google Assistant or Amazon Alexa, you’ve already experienced NLP in action. NLP supports data analytics in multiple ways by leveraging techniques such as speech recognition, machine translation, chatbots, text classification, sentiment analysis, and so on. It offers business leaders, marketers, salespeople, and researchers with the precise insights needed to make better decisions. Reports show that the rising demand for advanced text analytics is driving NLP adoption in sectors like healthcare, social media analytics, and consumer and market intelligence. 2024 will witness the rise of no-code and low-code NLP platforms that will make AI and ML more ubiquitous.