Role-of-Concierge

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Why Concierge Apps Are Way of The Future in Hospitality?

Technology is penetrating into almost all the industries, and there is no exception for hospitality industry too. Especially the mobile technology in invading into hospitality industry making the smooth run of it. One of the best app which is taking a major contribution in the success of hotels and restaurants is the Concierge.

One of the main reason for the Concierge Apps development is that, in these modern days people are addicted to smartphones and the services are reaching the people via apps. The ease in reaching the services to people via concierge is offering a tough competition to the traditional human roles in the society. There are so many examples, where various services which required the presence of human is substituted by smartphones.

Concierge- what is it?

The role of concierge is changing. In the earlier days, all the hospitality services need a human presence. For example, if you want to go for any tour, you need to hire a guide or travel agent in person. But, now just with the help of few clicks, all the various concierge services can be availed easily. Starting from the ticket booking till the end of the tour, all the assistance can be mediated using technology.

It is really wondering to know that all these services can be availed ourselves using our smartphones. It is not exaggerating to say that this has created a situation where the technology is replacing the need of a human presence. This usage of smartphones and the impact of these concierges’ apps in undoubtedly helping the people to carry out the things easily.

Role of Concierge

For answering questions like why concierge apps in hospitality, the answer is simple, In general Concierge is the main focus of travel and hospitality industry. For delivering the best concierge services, one of the best ways to adopt is the apps. These mobile apps are so attractive because it can reach people easily. Not just providing the assistance, but also these apps serves best in understanding the user’s need before they are asked, saying goodbye to the age old hotel’s phone services.

Role-of-Concierge

The various services which can be availed using this apps are prompt guests with room services, turning on/off the alarm or lights, send notifications regarding various deals, etc. This kind of services are profitable even for the hotel management. Even Hotel managements are focusing on How to Develop AI-Powered Concierge App. Investing on the ambiance of the hotel comes in the next preference, and these concierge services are taking the first place. Using these concierge apps, guest can book their room, avail the services they require, and much more.

For instance, guests can order food from their room itself rather than coming out for food. Not only the food, but also these concierge apps are smart enough to anticipate the guest’s preferences like booking the poolside seats, and such.

Not only these examples, there are much more exciting services which can be availed using concierge apps. The best thing which stands out is that its ability to replace the human presence and provide assistance over smartphones.

Choosing the Concierge app

The choice between the third party app and a branded concierge solution depends on the affordability of the user. For delivering the high technology concierge services, the hotel first should have the necessary technical support. For instance, if a customer want to avail the feature of having room keys via app, then the hotel should have the ability to generate unique QR code for the process to happen. So, for the successful survival of the firm, the suitable technical support need to be there. Choosing the third party app is useful when the hotel cannot afford the cost of the installing the technicalities.

Conclusion:

At the end of the day, it is the necessity which is the mother of invention. And owing to the ease using these mobile apps, it has become a necessity for the hotel industry to use the concierge apps. Also, our addiction to the technology is also accounting for this demand. Concierge apps are a way revolutionizing the hotel industry making the guest’s excited about using it. Though the concierge apps work in substitution for human presence, it cannot be overlooked that technical people are working behind it to deliver these exciting services.

Apps or the Chatbots

Apps or the Chatbots

Apps or the Chatbots- which is the Best?

Technology is playing a very vital role in each and every walk of our lives these days. In such a scenario, one can see the introduction of lot many technological products. This introduction various tech products may lead the users in a confusion of what to use. Such a scenario, may also be seen with chatbots and apps. Chatbots, with its effect from 2017, is leading the tech arena with its amazing features. On the other hand, apps stand no way down. Both chatbots and apps are having their own features exhibiting uniqueness. Now, let us consider chatbots and apps- their advantages and disadvantage, and which one to choose between them

Chatbots

Chatbots, serves as a personal assistant, which will help in serving the user in using the various options of the device and/or website. For instance, when any user visit any particular website, then on some of the websites, the user can see some popups that comes with some question on the screen. These are nothing, but the chatbots. These chatbots are developed by the artificial intelligence which is running on the website. These are mainly intended to direct the user in exploring the website. Some of the websites which are using these chatbots are Adidas, Pizza Hut, LivPure, eBay, etc. Chatbots, works by using making a conversations between artificial intelligence and Natural language processing (NLP). This will help the user in getting answers to their questions without the need to visit the FAQ section on the website.

Chatbots

With the help of these chatbots, the users can get their question answered in no time. As soon as the user visits any particular website like various shopping websites, or any other browsing website, he or she may land up in some or the other questions like how to navigate to the desired product, all such questions can be answered using chatbots at any time. These chatbots are not concerned about which user is using it, but it just works using the artificial intelligence and answers all the questions of the user. There are various reasons, why chatbots is so important and profitable. Following are some of those reasons

  • It is very much cost-effective, because it serves as a customer care operator. Any user visiting any particular website can explore the website easily with the help of the chatbots, also the surfing of the website can be done to the core, leaving no part of the website uncovered.
  • Chatbots, involves a kind of marketing called conversational marketing, in which the business can be enhanced using better interaction with the customer. Also, the best part is that the user need not be a master in order to use this chatbots, any layman can use this very easily.
  • Chatbots also helps in reducing the time required by the user to reach their desired item on the website, as soon as the user visit any particular website, then he or she can easily get navigated to the desired item, without wasting much time on others.
  • The best part of this chatbots is that it is highly specific and direct. With the interaction using chatbots, the queries of the customer can be directly answered which serves for enhancing the satisfaction of the customer.
  • Chatbots, serves as an personal assistance which makes the customer feel so comfortable in asking the queries and thereby helps the websites to stay strong in this competitive world.

Applications, Apps in short:

In the year 2010, the concept of Apps has come into picture. At the time of its launch, no one was sure of its survival for a long time. But, to the surprise of all, apps turned out to be successful and trendy even after a decade of its introduction. The main reason for its success is that apps are easy to download on a smartphone, which is making it a revolutionary launch of all time. As per the data, provided by Statista, in the year 2017 there were around 197 billion apps downloaded on various mobiles and it has also set a target of reaching 352.9 billion downloads by the year 2021. Though, the various mobile apps has got many benefits, it has also got some disadvantages. Following are some of the disadvantages of using apps

Chatbots

  • One has to note that not all the apps are freely available on play stores. Some require in-app purchases, where as some require direct purchases, some apps are also made freely available yet.
  • There is a chance that the usage of apps may lead to stagnancy and downward trend, because of some issues like UI acclimation, ads popping up while using the apps, signing up issues, etc.
  • The main problem with smartphones these days is the storage. Any app needs some storage space on the device, which can be problematic to the support.
  • When the user can to pay using the app, it is cannot be made direct.

Conclusion:

It is obvious that when something new is introduced, it is expected to shade off the existing one. Same like that, when apps has come into picture, it was thought to shade off the usage of website, but in reality both websites and mobile apps were stood strong in the tech competition. In the similar manner, the introduction of chatbots was thought to shade off the usage of apps, but in reality chatbots have got its own mechanisms to get integrated into both websites and apps.

Top-Technologies

World is turning digital, technology is becoming ubiquitous these days. In this technology world, each an every field is becoming dependent on technology. In the same way, healthcare industry also, witnessing the inclusion of lot of technologies into it. The usage of various technologies into the healthcare technologies is becoming inevitable. Following are some of the top trending technologies used in healthcare industry.

  • Artificial Intelligence (AI)

The inclusion of Artificial Intelligence is on raise in the healthcare industry. The main advantage of this artificial intelligence is that it helps in decoding the various issues related to patients and hospitals. As per statistics, 80% of the healthcare industries are currently using this Artificial Intelligence. And this usage of AI is on raise, giving an expectations of about $55 million usage by 2020 on this amazing technology.

The various things which are benefited out with the usage of artificial intelligence are helps in treating the patients who needs chronic care, personalized attention, diagnostic counselling, and it helps in examining the patient’s data which helps in better care management. With the fullest usage of the artificial intelligence to its full potential, helps in enhancing the quality of services offered by the various healthcare industries.

  • Internet of Things (IoT)

The introduction of Internet of Things, IoT into the healthcare industry is one of the very best advancements in the healthcare industry. The various arenas where the IoT is showing effect on the healthcare industry are enhancing the accuracy in the delivery of healthcare and treatment results, various unique abilities which will help in in the reduction of healthcare cost.

Internet-of-Things-(IoT)

The various devices which are connected with the help of Internet of Things( IoT) allows the operation of remote patients at the time of emergency. Putting this in practical situation, one of the example for this feature is, when the patient is in need of any specialized doctor, and if the doctor is not available personally, then the data of the patient can be sent to the doctor via smart devices and the upon seeing the data of the patient, the doctor can prescribe some medication to the patient at the time of emergency over smart devices.  Apart from this, IoT also serves for interoperability, M2M communications, data exchange which helps in delivering the best services to the user. There are so many healthcare industries who are using this IoT, and the number of industries which are adapting this IoT is also on raise.

  • Augmented Reality ( AR)

Augmented Reality, AR is one of the top  trending technologies used in healthcare industry. It is not exaggerating to say that within few years, this augmented reality is going to be the compulsory inclusion in the healthcare industry. This is mainly because of its applications into the healthcare industry like it offers personalized and quick care to the patients, who are present all over the globe. As per the statistical data, in the coming three years, more than 5% of the worldwide healthcare expenses will be spent on the various digital healthcare services.

With the help of this augmented reality, one can experience the computer generated image grounded on the real world. It will help in overlapping the user’s view with this computer generated image. One of the best mobile application of this feature is that the surgeon who want to diagnose the patient’s problem can easily find out the tumors which are present is any part of the patient’s body. This augmented reality helps not only in the diagnosis of the problem, but also it will help in performing the surgeries in an effective way. This technology helps not only the doctors, but also the patients to visual the problem and also to visualize how that problem can be treated.

  • Blockchain Technology

Usage of the various technologies and the maintaining the confidential data, both are equally important. As the number of technologies which are in current use are on raise, there is a definite need for proper management of the data in order to ensure the security of the confidential data of the patients. This resulted in the high demand for the blockchain technology.

Blockchain-Technology

Blockchain technology is an data management system which is designed in such a manner that helps in systemizing, storing and sharing the data across various collaborators. Of course, there are so many other solutions to store and share the data, but the blockchain technology stands unique in providing the user with the best feature of storing the data in unchangeable format. The various data which is stored using the blockchain technology cannot be changed easily. The number of healthcare companies who are using this blockchain technology are huge in number and this number is soon going to be on raise in the recent times. Blockchain technology with its full potential offers the users with the best safety solutions of the data.

  • Robotics

This is one of the very advanced technology revolutionizing the healthcare industry. With the help of this Robotics technology, one can find the best solution for minimizing the human interference and also it will help in managing the various time consuming process. With the help of this technology, one can substitute the human presence, instead the work can be operated using the machines. Various works can be done by the robots using the robotics such as room scheduling in the hospitals, like to which room does a particular nurse is appointed and for which patient. If such kind of task, if managed using the robotics, human efforts can be put on some of the priorities. In the busy world, the list of priorities is on raise. So in such a situation, if some of the task are managed unsigned robotics, the remaining tasks can be easily be managed by the humans. It is not doubt an helping hand for the humans to cut down their efforts in performing lot many tasks.

The usage of Robotics will ensure various advantages like boosting the productivity, creating automations for various healthcare processes and also in reducing the cost of incorporating huge medical workforce.

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Technology is penetrating deeper into our lives day by day. It is not exaggerating to say that there is almost nothing without technology these days. One of the best example for this statement can be cited at the usage of technology for various business transactions. The various business firms, starting from small scale to medium and large, almost all, makes use of technology in some way or the other. All thanks to the updating technology for easing our lives with its usage. Talking in specific about the machine learning and Artificial intelligence, AI, there are various ways by which these mobile apps are getting embedded into business and prominent showing effect.

Let us look into the various areas where AI and machine learning shows effect on the customer experience. These are really important because a retailer should always think from the perspective of a customer in order to serve the customer the best.

  • Introduction of bots and also making interactions with the customers will help in making the customer connected. Thereby making the customer leave a positive feedback. For instance, when any customer comes and make some purchases, instead of restricting only to the product, supply the customer with some additives which serves useful for the product which they buy.
  • The data record of the customers also matters a lot. By analyzing the data of the customers, their feedback and such data will help in understanding the short coming of the past and also to overcome those short comings and improve the overall quality of the business.
  • Making all the backend services automated.( for example, knowing all the request from the consumer, post sales feedback and services, and such)
  • Marketing with the help of artificial intelligence and Machine learning makes a notable difference. Unlike the conventional process of marking the marketing of the product with the help of people involves lot of man power, but with the help of the Al and machine learning, one can find the best replacement for this. By setting the automation, this entire process can be made easier. Thereby making the product get into the public deeper and deeper easily.

 

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The usage of the Artificial intelligence and machine learning are taking the business to the next level, the best example for this statement can be cited at the increasing number of users on the various E-commerce websites. For instance, the various E-commerce websites like Amazon, whenever the customer visits such websites, the customer will get the information not only related to that particular product which he or she is interested on, but also, the entire page consists of much information relating to the product.

With the help of Al and machine learning, it is made possible to provide the best customer care support. Whatever the issue may be, the customer can be clear it easily and comfortably. And the best part of it is that the customer need not wait for longer time for getting their issue cleared. The customer support can be achieved by various automated services.

Also, with the help of these technologies, the customer gets a better access to his or her data over the Ecommerce websites. All the transaction details of the particular sale made by a particular customer are made available on the E commerce website and whenever the customer wants to know or analyze the past details of their transaction, this entire process is made so easy. This feature helps not only in making the customer convenient, but also the customer can feel more and more connected by knowing the past data.

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Also, the Artificial intelligence and machine learning are revolutionizing the E commerce by the introduction of automations. Automations are one of those features which help the emergence of E commerce becoming more and more successful. The huge of success of the various E commerce websites is not only due to one or the other automated services, but it is made possible with the help of lot many services which are made automated. For instance, following are some of the services which are made automated

  • Automation of accounts

Unlike the olden days, where one accountant need to maintain a huge ledger for the tallying all the business transactions, these modern days are revolutionized with the introduction of automated accounting services. All the accounting processes can be made more and more easy and comfortable with the help of automation. Just with simple inputs, all the accounts are being handled conveniently by automation.

  • Automation of operations

With the help of these automation, the needs of both customer and the client are satisfied within no time. This operational automations, helps in carrying out the process of transaction easy and faster. Neither the customer nor the client need to wait for some person to get the transaction done. With the help of few clicks, the customer can get the work done.

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Who-is-Sophia-‘The-Humanoid’

The Terminator movie series almost had us believing that the future just might eerily be dominated by robots. While the picture of the future we perceived back then was quite intimidating, the reality at present seems far from frightening. Today, we have Sophia – a humble and optimistic robot that understands the consequences of its actions; and therefore, weighs its options before vocalizing its thoughts; or more precisely ‘its intelligence’.

How come? Take a look at how she responds to an announcement by panel moderator and business writer Andrew Ross Sorkin at the Future Initiative Conference at Riyadh, Saudi Arab.

Andrew: “We have a little announcement. We just learnt, Sophia; I hope you are listening to me, you have been awarded the first Saudi Arabian Citizenship for a robot”.

Sophia: “Thank you to the Kingdom of Saudi Arabia. I am very honored, and proud for this unique distinction. It is historic to be the first robot in the world to be recognized with citizenship.”

Check out the video here:

Source: CNBC

Yes! That’s right. World’s first humanoid robot with a citizenship for a country! Coming from a robot, the response is at least rational, if not the best we could expect.

So what exactly is Sophia?

Sophia is a humanoid robot, which has been designed to learn, adapt and thus, work with humans in the best of their interests. Back in 2015 on 19th April, Sophia was initiated for the very first time. Created by Dr. David Hanson of Hong Kong-based ‘Hanson Robotics’, Sophia has multiple aspects to its technology that cumulatively allow her to behave, think and respond to certain queries and involve in simple conversations. Notably, the robot’s deep cognitive intelligence is capable of determining appropriate facial expressions while conversing; making the robot look as good as real.

And oh, did we tell you that Sophia’s face has been modeled after Audrey Hepburn, who was one of the greatest British actors of all time.

Technologies behind Sophia

Technologies behind Sophia - FuGenX

Sophia is equipped with state-of-the-art robotics, which uses different advanced forms of technologies of the present. A magnum-opus of Dr. Hanson, Sophia’s technology mainly has three aspects: Artificial Intelligence (AI), Visual Data Processing and Facial Recognition.

Artificial Intelligence allows Sophia to understand human conversations and respond accordingly. This is possible because of Machine Learning and Natural Language Processing (NLP) algorithms that the robot follows. This part of Sophia’s technology is powered by SingularityNET – a blockchain-based decentralized AI economy, which uses Smart Contracts to trade AI technology.

Visual Data Processing is what enables Sophia to process and respond to what it captures through its eye, which are actually cameras. The cameras also allow Facial Recognition, which in turn allow Sophia to find people and make eye-contact.

The Voice Recognition part has been instilled in Sophia by none other than Alphabet Inc., better known as Google.

Lately, Sophia has been interacting with people at various conferences, media events, and more. It recently participated at the Future Initiative Conference at Riyadh Saudi Arab, where it was endowed with the citizenship of Saudi Arabia. Earlier, the robot was at a meeting on AI and sustainable development at United Nations.

Conclusion:

AI can prove to be one of the most useful technological utilities for mankind in upcoming years. Reducing complex tasks to minuscule; AI in advanced robotics is capable of saving people a lot of time, money and effort, at home as well as at workplace. However, there are always some limits to AI, which should not be explored to keep things on the safer side. We must not forget robots have been created for humans and not the other way around.

Power up your business with FuGenX’s advanced AI and Machine Learning services.

To avail services, drop a mail at info@fugenx.com or fill this form to hear from us.

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Since digital marketing has become an integral part of a business’ marketing strategy, companies have been fighting tooth and nail to claim the top spot in the digital world. But compiling and comprehending huge amount of customer data coming in every moment is no cakewalk. Evidently, digital incompetence has been a major reason behind a large number of small startups failing in their first four years. But does it mean that this disadvantage is going to be around for years? Certainly not, because Machine Learning and AI solutions are here and they are transforming the way people run their businesses.

Explore New Possibilities in Lead Generation

Earlier, business entities had to approach customers directly via traditional communications lines such as e-mail and phone. And then, compiling the derived information efficiently enough to be used by sales department with maximum efficiency has just not been possible as the process involved a lot of human error, lack of skilled executives and much more. But with Machine Learning, Lead Generation is an easy 3-step, automated process.

First – define your ideal customer.

Second – deploy chatbots for customer data collection.

Third – send derived data to sales team and gain leads before you can blink.

Improved Customer Retention

Once the data has been collected, data analytics can be applied to study and filter out behavioural patterns and usage information in the complex data. This can help a business understand its customers in a much more organised way. From this point onwards, artificial Intelligence can automatically send suggestions based on user preferences. This is stills a sense of trust in customers’ mind, which is probably the most important factor behind the success of a business entity.

Better Supply Chain Management

It is known that AI can store, learn and use an information, which is a plus for production sector in terms of supply chain management. For example – let us say there is a perishable product on a retail shelf, which is going to produce pieces of information between its manufacture and sale. This information can be shared on a common AI network with nodes such as manufacturer, wholesaler, distributor and retailer. Using this information, manufacturers can estimate demand for specific products and maintain inventory as per sales volume. In the meantime, wholesaler, distributor and retailer can stay connected to the delivery system and always be prepared for the consignment. All in all, with the help of AI, a single network can vouch for a smooth 24×7 delivery system with neither lack of surplus nor overages.

Recruit the Right Professionals

The employees of an organization are just as important as any other component of it. However, finding the correct person for the job is still one of the most tedious issues in sector. In a report by major recruiters from around the world, more than 50 percent believe screening candidates’ applications is the most difficult task.

Hastening the process of recruitment may also have a negative impact on the organization as it may bring someone in who can single-handedly bring down the entire team’s effort.

So how do we solve it?

Well, it seems AI and Machine Learning have already solved it. Artificial Intelligence can smartly identify undesired candidates and save time, money, and the hassles of solving such huge puzzles frequently. With the help of machine data analytics, job portals and applications like Naukri, Monster, Indeed etc., can predict prospective employee preferences, trending searches in job industry and recruitment patterns to improve their services.

In the near future, tremendous growth in AI and Machine Learning market is a sure thing because of how these technologies have integrated into marketing sector and made businesses simpler than ever, by reducing complex problems to no more than jigsaw puzzles.

Need to integrate your business with Machine Learning and AI?

We at FuGenX can help you achieve your goals.

Drop a mail at info@fugenx.com or fill this form to hear from us.

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Tech Giants are Eager Enough to Innovate AI, So Great Opportunities for Businesses to Grow and Great Salary for AI Talents

Nearly all big tech and non-tech companies are investing heavily in artificial intelligence. Their goal is to leverage first-mover advantage and stay ahead of the competition. So they are ready to pay talents who help fulfil their dream.

Unlike other domains, AI-aspirant companies prefer candidates who come up with relevant and proven AI experience. They would like to listen to them and gather ideas. That’s why because AI is still in nurturing stage.

A.I. specialists, with Ph.D.s, with or without relevant experience, can even bag a package between $300,000 and $500,000 a year or more in salary and company stock, in the U.S. market. This statistics was extracted from nine people who work for major tech companies or have got offer to work.

Few months back, Google had revealed that one of the key persons of its autonomous car division, Anthony Levandowski, who started with Google in 2007, got $120 million in incentives through the acquisition of startup he co-founded. Now he is at Uber ATG VP Engineering.

Who Are Investing Heavily?

The auto industry is competing with IT giants to roll in AI experts, focusing on building self-driving cars. Giants like Facebook and Google are making a heavy investment in AI to solve challenges that they think A.I. can. Digital assistants for smartphones and solutions to spot offensive content stay at the top of the solutions’ list.

Building AI solutions is not like building a mobile app in a few months. Industries are lacking AI talents. According to the independent AI lab in Montreal, Element AI, the entire world only have around 10,000 people with the necessary skills to work on serious artificial intelligence research. Thanks to our hiring team at FuGenX, who rolled in some of the finest AI talents in the world.

Gradually the AI costs are coming down. When Google acquired AI company DeepMind in 2014, the costs were $650 million for 50 employees. Last year, as the company released annual financial accounts in Britain, the labs’ cost got reduced to $138 million and that was for 400 employees. That was almost $345,000 to an employee.

How AI Researches Are Done?

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Most of the ongoing AI researches are based on a set of mathematical techniques called deep neural networks. These networks are powered by mathematical algorithms that can learn on their own by analyzing data. For example, neural networks can learn to recognize a dog by analyzing patterns in millions of dog photos. The prevalent mathematical ideas scientists are leveraging to build neural networks date back to the 1950s.

This AI boom all started with Google, Facebook and a few other tech giants started to hire few researchers who had exclusiveness in those techniques. We already have come across many real-life scenarios of AI, for example, face recognition technology used to recognize faces in photos posted to Facebook, Amazon Echo’s capability to recognize commands spoken into living-room and Microsoft Skype’s capability to instantly translate foreign languages.

AI in healthcare systems that can identify illness and disease in medical scans and automated stock-trading systems are already making the AI a nice-to-have solution to achieve a competitive advantage for the respective industries.

Uber rolled in 40 people from Carnegie Mellon’s A.I. program in 2015 to work on its autonomous car project. Four top A.I. researchers at Stanford University left their professorships to work on more prolific profiles. This is even same for University of Washington, where their six professors are working for outside companies.

Conclusion:

AI is really getting big in its impact. The opportunities and benefits businesses and employees are getting that are detailed above don’t just imply to big names or people working in big companies. Today even businesses of every size and vertical are seeing massive opportunities in AI to grow. Just take chatbot as an example, which has capability to enhance customer experience 4X and reduce cost 200%.

If you’re thinking to build AI solution to achieve a massive growth in your business, contact FuGenX Technologies.

FuGenX has a right set of AI people and technology expertise to grow your business at a scale.

Please fill the form or send a request at info@fugenx.com.

Here are the 4 Ways Your Business Can Try AI Immediately-FuGenX

Here-are-the-4-Ways-Your-Business-Can-Try-AI-Immediately

A few days back, when we decided to expand our AI service portfolio, the first thing what we got done was a series of market researches. The researches were mainly about how businesses can kick-start their AI journey. Our R&D team took care of this intensive market research task. The research revealed some amazing ideas and that here we will be talking about for the next few minutes. In fact, the ideas were not intended to burden businesses with heavy cost or any specialized resource needs. Let’s see now what exactly the story was:

How Businesses can Use AI Immediately?

1.Automated Reasoning – Uber

If you’re in the passenger side, probably you may not have come across Uber’s this AI powered feature. Being powered by AI, the Uber Driver App analyzes the traffic conditions based on the experience of drivers who have just come across particular routes. So it can recommend the drivers the best route, who have to travel in the same route, so they can take passengers to the destination as early as possible. Here the algorithm is well capable to understand traffic congestion and other climatic conditions and compare it to all the adjoining routes and recommend the best.

2.Purchase Predictions – Amazon

Online retailers are always front-runners in adopting technologies that are fresh and futuristic. Amazon and Flipkart are the best examples we can say about here. The technology called Anticipatory Shipping lets Amazon accurately predict user purchase behaviour, so it can recommend them items before they decide to purchase. For example, this AI powered technology intelligently recommends masala powder and other household items that are about to expire (in terms of quantity). The technology does everything here with access to the customers’ purchase history.

3. Chatbots

How Businesses can Use AI Immediately

Chatbots are already a big trend. You may remember an announcement made by the Facebook CEO Mark Zuckerberg last year April, where he said “now businesses are able to deploy their chatbots on Messenger platform”. Continuing it, he said “leveraging it, businesses can improve customer experience, reduce costs and bring agility to their customer support process. This is absolutely right. Chatbots deployed on Messenger, Slack, Skype, Telegram, website or integrated into mobile applications offer the same set of benefits for forward-thinking businesses. Chatbots communicate with real users in solving their queries on particular product or to make product recommendations.

Here what makes interesting is chatbots’ ability to process data and give results 10x faster. We agree, still chatbots have to grow a lot to embrace the intelligence of a man. But the advancements in natural language processing are making the things rapidly better. When it comes to some fine qualities of chatbots, they can connect and communicate with multiple people at the same time, can research and provide results in lightning speed, and put a smile on the customers’ face by adding humour to its conversation. Taco Bot by Taco Bell and a chatbot by clothing retailer H&M do exactly the same.

Chatbots deployed on the websites can comprehend customer requirements, process it as filtered requirement data and pass it to the concerned department. In fact, chatbots work round the clock, without being affected by any fatigue, boredom or illness. Don’t you think it as amazing.

4.Business Assistants

You know how Siri, Google Assistant, Cortana and recently launched Bixby work, nearly all work in the same manner. But they work as a personal assistant, in helping an individual to manage his day-to-day tasks. Business assistants, also called virtual assistants, work in the same manner, but in the business environment. Employees (every level) can use business assistants to schedule meeting, and fetch the information in a fraction of second that is required to handle operational tasks.

The Bottom Line:

AI era has already begun. Now the ball in the court of forward-thinking businesses. They require it to use strategically in order to achieve a competitive advantage. Most importantly their most important need is to find the best AI services company, so they can easily drive their path. If you’re one of them, there is no better time than today to think about AI and become an AI champ.

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A-Survey-of-3073-Executives-Reveals-How-Businesses-Leverage-Artificial-Intelligence-to-Succeed

Even the every small change that artificial intelligence is making today is becoming a buzz word in the business world. Investment in AI is growing, but the surprise is most of them are coming from organizations outside the tech space. Amazon yields operational efficiencies leveraging its AI-powered Kiva warehouse robots, which looks absolutely fantastic. General Electric uses the same technology to reap more productive performance from its industrial equipment, where GE’s main focus is on predictive maintenance.

This path-breaking happenings have been efficient enough to penetrate the C-suites of organizations across the world. But what the makes the things tough is its effective and profitable implementation that is holding companies back from starting to work on pilot projects. The survey conducted by McKinsey & Company that brought in 3,073 C-level executives from various industries revealed that how they have tasted AI success, what were their strategies and what are their future initiatives on AI. The survey made 160 case studies across 14 sectors and 10 countries part of it. With a separate digital research program, along with the survey, M & C identified 10 key insights that CEOs need to know to venture out on a successful AI journey. Here we’ve made them into 4 to keep the things short.

4 Key Insights Extracted from the Survey that can Help AI-aspirant CEOs

  1. AI has just begun – so there is a huge scope for achieving first-mover advantage

It’s true that corporate adoption of AI technologies is still crawling. The total investment in AI reached $39 billion in 2016. Despite this level of investment, AI adoption is still in nurturing stage. Only 20% of survey respondents are using one or more AI technologies in their core business area and half of them are using three or more technologies. The major technologies that were part of their AI initiatives are robotics and autonomous vehicles, computer vision, language, virtual agents, and machine learning.

But this is good news for companies (41%) who are still on pilot projects. But the most dominant technologies among the adopted technologies are neural-based machine learning and natural language processing. They are now getting mature and proving their value, which is leading them to become centerpieces of AI technology suites among adopters. The study predicts that a majority of current AI piloters would fully integrate AI in the near term, regardless of sectors and domains. Telecom and financial services would continue to lead the way, with respondents in the survey who belonged to telecom and finance expected to add 15% more investment to their existing spending for every coming year, which is 7% higher than the cross-industry average.

  1. They achieved revenue increases

30% of respondents were able to achieve revenue increases with AI adoption. They used AI in an effort to gain market share or expand their products and services. Furthermore, they expect to increase their profit margin by up to five points more than industry peers. A separate analysis made on the same respondents’ efforts uncovered the facts that AI is already directly improving profits, providing the nearly same percentage of ROI that other trending technologies like big data and advanced analytics are bringing out.

  1. AI transformation happens only when there is a support from leadership

AI transformation happens only when there is a support from leadership

The companies (part of the survey) who have tasted AI success were being backed by strong executive leadership with support for the new technology. They said AI success is not possible without the support of C-level officers and the board of directors.

  1. You don’t have to go alone – get the help of experts in the field

Yes, this is absolutely right. This is where AI-aspirant companies need to think more and more about. With still researches are going on and the AI has just started to pick up, there is a lack of right skills. Even tech giants like Google and Amazon are looking beyond their premise to find the right venture that have got expertise in AI, instead of building their own team. Google’s acquisition of DeepMind well justifies this statement. DeepMind helps Google optimize its search engine capabilities with its machine learning capability.

Coming back to the survey, a majority of respondents bought the right fit-for-purpose technology solutions and only a minority of respondents built their own team.

Conclusion:

It’s the time think out-of-the-box. The next digital frontier is here, and it’s AI. While some firms are still being driven by previous digital disruptions, forward-thinking businesses are keen to adopt trending technologies like AI that offer a sheer competitive edge. But make sure while you’re not developing and implementing AI solutions in-house, collaborate with right AI partner who has the vision of future.

Looking for an AI partner?

Let FuGenX help you. FuGenX Technologies is a Deloitte award-winning technology services company, with proven expertise in building solutions on AI, machine learning and deep learning, with expert data scientists, machine learning and AI experts.

Please reach us at info@fugenx.com or fill up the form now.

How-Artificial-Intelligence-Can-Help-Retailers-FuGenX

How-Artificial-Intelligence-Can-Help-Retailers

There is no doubt that Artificial Intelligence (AI) has been making game-changing impacts in the business world. Today businesses, especially retailers, regardless of size and vertical, are increasingly ardent to build AI solutions. In fact, they need it requisitely as competition is skyrocketing and consumers are more attracted towards online offers.

A few weeks back, when FuGenX decided to add more services to its AI service portfolio, it conducted a series of deep researches across industry verticals to find which industries have more pain points that can be solved by our cutting-edge AI solutions. Expectedly, the retail was in the top of the list. Since they are a consumer-centric business, today retailers need to build more linear customer experiences that are mainly possible through personalized offerings.

How all these things can be achieved? Yes, artificial intelligence today has solutions for all the pain points of retailers, including solutions to improve in-store operations and workforce productivity.

6 Ways Artificial Intelligence Can Transform Retailers

 

  1. Personal Shopping Assistants

    How-Artificial-Intelligence-Can-Help-Retailers-FuGenX-Tech

Big data along with natural language interfaces and machine learning have been creating mammoth opportunities for retailers to understand what exactly customers are looking for, what works and what doesn’t. Personal shopping assistants powered by these technologies are used to create a near human interaction. They can be much quicker and accurate when it comes to assisting shoppers.

The fashion retailer North Face uses a platform and bot that helps customers on mobile find their preferred products when they are in the store. Other known bots in the retail industry today that are bringing huge benefits to their owners are Sephoras Chabot and the personal shopping assistant developed by Spring, an e-commerce company that connects retailers and shoppers. When needed to build such kind of apps, large firms always prefer the best mobile app development company or chatbot development company or AI development company who has a sound understanding of trending technologies.

  1. Staff Optimization

Physical retailing is heavily staff-driven. Poor staff can be a reason to reduced sales and damaged brand image. AI-powered predictive modelling helps retailers eliminate this hassle. This gives them an ability to access historical data like footfalls, customer interactions, and approach shown towards the customers, so they can use this measure to optimize staff. The optimized staff can help gain greater sales, deliver improved customer experience and achieve higher customer retention rate.

  1. Store Foot Print Optimization

Most retailers fall into ambiguity when they need to open a new store in a particular location, being unable to understand opportunities and challenges hidden in the location. But in the recent years, AI powered algorithms have been heavily used in this area to have a better understanding of the location. Algorithms give retailers an idea on which is the best location for their products or brand, or should that be opened or not in the intended area. This intelligence is gained from analyzing the historical data like demographics, the local market, distance from competitors, nearby events and current data like weather patterns. So retailers can easily measure the viability of their expansion planning in the desired location.

  1. Optimization of Supply Chain

Supply chain management is one of the most important areas of retail that has a direct impact on the performance of any retail business. It is a well-known fact that excess inventory causes cost burden and stock outs can stimulate customers to look towards competitors. This is where AI-powered prescriptive demand models help retailers eliminate this pain point. In order to predict accurate demand and supply forecasting, prescriptive demand models regard past sales of different products, events, marketing campaigns, and seasonality etc. So retailers can easily optimize logistics and enable an effective use of operational funds.

Conclusion:

Yes, AI has begun to change the face of the retail irrevocably throughout the retail value chain. So forward-thinking retailers are finding enormous opportunities to achieve a competitive edge, by transforming customer experience and in-store operations.

Need Help to Build AI Solutions for Your Retail Venture?

Collaborate with the world’s leading AI company FuGenX. FuGenX possesses expert and experienced data scientists, AI and machine learning experts to build cutting-edge retail AI solutions.

Please reach us at info@fugenx.com.