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[x]cube LABS is a leading digital strategy and solution provider specializing in enterprise mobility space. Over the years, we have delivered numerous digital innovations and mobile solutions, creating over $ 2 billion for startups and enterprises. Broad spectrum of services ranging from mobile app development to enterprise digital strategy makes us the partner of choice for leading brands.

App Marketing, Augmented Reality, Blog

Extended Reality Business Apps for Industries in 2022

December 27, 2021 [x]cube LABS

Table of contents

Extended Reality Business Applications for Industries in 2022
Introduction to Extended Reality
Three Remarkable Components of Extended Reality(XR)
5 Powerful Real Time Business Applications
Real time Examples
Challenges
Conclusion

Extended Reality Business Applications for Industries in 2022

Introduction to Extended Reality

Extended Reality(XR) is an umbrella phrase that consists of all real and virtual environments generated by computer technology. It comprises Augmented Reality(AR), Virtual Reality(VR) and Mixed Reality(MR). All immersive technologies grow the reality we experience by creating a fully immersive experience by blending the real and virtual world.

Research reveals that more than 60% of respondents believe XR will become mainstream in the coming five years. The Extended Reality(XR) market will grow from 33 billion dollars to 125.2 billion dollars by 2026. Visualize yourself walking on the moon or diving into the deep sea, all while you are sitting on your couch at home. Just as we spoke, Extended Reality(XR) makes all of this possible.

To know more about Extended Reality, we need to understand the three components of Extended Reality, which are Augmented Reality(AR), Virtual Reality(VR) and Mixed Reality(MR).

Let us have a look at the three remarkable components;

Three Remarkable Components of Extended Reality(XR)

Augmented Reality(AR)

As the word suggests, Augmented Reality(AR) takes the existing reality and overlays it with different types of information, thus enhancing the digital experience. It can be classified as marker-based, marker-less and location-based.

To experience AR, we have to use glasses or screens using tablets or smartphones.

Examples of AR are ‘Pokemon Go’ games where digital structures are created and placed in the real world and a Snapchat filter that lets you put on the hat or glasses.

Virtual Reality(VR)

In contrast to Augmented Reality(AR), Virtual Reality(VR) fully immerses users in a simulated digital environment. Individuals must put on a VR headset or a head-mounted display to get a 360 -degree picture of a synthetic world. This artificial world tricks the brain into believing they are swimming under the ocean or walking on the moon, letting them step into a new world created by the Virtual Reality developers. The entertainment and gaming industries were the early adopters of this technology; however, companies in engineering, Digital Healthcare, construction, and more are researching their way of implementing it.

An example of Virtual Reality use case implementation is Volvo. Volvo introduced VolvoReality that lets customers experience a complete VR test drive with their phone.

Mixed Reality(MR)

Mixed Reality(MR) is the latest immersive technology, often referred to as hybrid reality. In mixed Reality, real and digital-world objects co-exist and interact in real-time. It needs more processing power than VR or AR to avoid speed problems and latency. We can experience Mixed Reality with an MR headset or glasses.

5 Powerful Real Time Business Applications

Healthcare

Imagine exploring human anatomy virtually. What if there is a life-size 3D model right in front of you where you can walk and interact with it- that’s what XR can do- it creates a virtual experience. Extended Reality in Healthcare is paving the way for new opportunities for medical practitioners. Extended Reality solutions own the potential to assist surgeons in the operation theatre. To understand it in detail, let us have a lookup into the best 3 uses of XR in Health Care :

1)Building surgery simulator to train medical practitioners

Immersive technologies help doctors conduct surgery simulations. We can create a surgery simulator with the support of extended Reality. We can also use it for training medical practitioners.

2)Helps Surgeons Prepare before actual surgeries

With the help of Extended Reality(XR), we can generate 3D replicas based on patient scans that let surgeons study and collaborate with the team on surgical tactics. An XR immersive headset is used to showcase the draw, cut measure tools, and develop an actual operation procedure.

3)Better Diagnosis of Health Conditions

What if doctors can scan a patient’s body and point out health problems straight away? As fascinating as it sounds, it is now possible with an XR application. Immersive technologies are brought together with the help of 3D models to help detect patients’ illnesses.

By 2025, Augmented Reality(AR) and Virtual Reality(VR) market value is forecasted to be $10.82 billion.

Retail

One of the most thrilling areas where XR is set to make a mark is retail/eCommerce. The line is clouding between online and in-store shopping experiences; like today, more brands are experimenting with Virtual Reality(VR) and Augmented Reality (AR) to build innovative customer experiences.

But why should we imagine a virtual shopping experience when you see it in person in the store? All of this was true until customers couldn’t go to the store anymore due to pandemic restrictions.

In January 2020, 8% of retailers stated they were interested in AR/VR. Six months later, that number increased to 20%. Today, retailers see the opportunity of Extended Reality in a different light.

Top 3 Examples of VR and AR bring used in the Retail Sector

1)Nike– Nike used Virtual Reality and Augmented Reality in their physical stores so that Customers can scan items like clothes or shoes to view information.

2) IKEA developed The Place App, which lets shoppers use augmented Reality with their smartphone camera to position furniture items in their houses to visualize exactly how the thing will look.

3) BMW’s augmented reality experiences let car shoppers head into showrooms and customize cars with various colours or styles using their phones or tablets. They can even put on virtual reality goggles and experience driving cars to understand their options better.

Gaming and Entertainment

Gaming

With its share in the XR market being 34%, the video games industry has been XR’s early and foremost user. Many game designers are now creating interactive 3D experiences, using different devices and frameworks to build Extended Reality games that let them feel like they are playing in a real environment. Like being in a Star Wars environment where Darth Vader is present? Vader Immortal is a VR game that gives an immersive experience of how it truly feels to be in the Star Wars world. You can play this VR game using the Oculus Quest headset.

Research emphasizes that the VR market for gaming was worth $5.12 billion by 2019 alone. Further forecasts state that the numbers will grow at a CAGR of 31.8% by 2027, by which the VR market size is about to reach a net of $45.20 billion.

Entertainment

Virtual Reality plays a dominant part in the entertainment industry. It focuses mainly on producing and improving video-based immersive media like TV shows, movies and numerous other forms of video content. Virtual rides are designed for Theme parks which are usually difficult to simulate in Reality.Beyond this, Virtual Reality is also being executed in art galleries and museums to make it interactive with a contextual background and to provide a rich user experience. Other AR entertainment mobile apps like PokemonGo have transformed the real world with a simulated overlay attracting and engaging audiences.

While Virtual Reality(VR) is liable for gathering a lot of traction due to its highly immersive characteristics, Augmented Reality(AR) is now becoming a game-changer. It is a lucrative immersive technology that will benefit the Gaming and Entertainment sector in the long run. AR technology is used daily in smartphones via camera filters on social media platforms like Snapchat, Instagram, and Facebook. The filter utilizes computer vision technology that relies on an active shape model categorizing features and a human face-recognizing feature; filters are applied accordingly through the camera. The VR and AR media entertainment market is expected to grow at a CAGR of 48.8% from the year 2018 to 2023.

Marketing

Extended Reality(XR) empowers marketers to give their customers a shot before purchasing the product. It lets customers immerse themselves into that environment and convince them to discover it. For instance, Cathay Pacific used a 360 video to help clients understand the brand.; This raised customer consciousness by 29% and brand favorability by 25%.

From a marketing point of view, let us understand what XR brings to the table?

Product Showcasing With XR, consumers can experience new developments in new ways like never before. Imagine trying out a shoe or a smartwatch before you even pay for it! That’s the pulse that the marketing strategists want to target.
Interactive campaigns XR is all about building an immersive experience for the consumer. Thanks to digital transformation, the calibre of hardware available to the average customer have improved vastly. Every smartphone is capable of processing AR tech, which empowers marketing strategists.

Education & Training

XR holds great potential to change how we get education and training. XR will help get trained and educated in low-risk, virtual environments to master the skills fast and without spending a significant amount. Employees can efficiently focus on the task in a simulated environment built using XR. Remote learning is another vital aspect of XR that will solve the problem of distance barriers.

Benefits most from using XR solutions in Education & Training

- NASA is vigorously experimenting with XR to train its repair and maintenance workers in the space station.
- The electrical technicians at Boeing aeroplanes use AR-headsets to check maintenance checklists, which are reducing their inspection time by 25%.
- The US Marines have used an “Augmented Immersive Team Trainer” system that trains soldiers virtually by adding different fire effects and enemies that has enhanced their performance in real-world scenarios.

Real time Examples

Walmart training with AR

Walmart uses Oculus VR headsets to augment employee training. Positioning staff through training with VR boosts the confidence and retention of the team, enhancing test scores by 10 and 15%.

Coca Cola AR

The Coca Cola Augmented Reality(AR) app allows users to point their camera phone at any Coca Cola can and make one of the twelve stories come to life.

Ford’s

Ford’s new technology, HoloLens, lets designers wear wireless headsets and see digital designs and parts as already incorporated into the physical vehicle.

Jaguar Vehicle VR

Jaguar generated 3D models of every car part, letting them picture every element of the vehicle and fit it all together. The model will simulate the performance of components and systems.

Extended Reality Challenges

Screen Door Effect- This visual effect allows fine spaces between pixels to be seen due to a large image scale. However, this can be solved with advances in both lenses and screens.

Motion to photon latency– It is a delay between the user’s head movement and the change in the display of the XR device imitating its movement. This can cause motion sickness. Researchers have designed a freedom model for user movement prediction, lowering positional rendering error.

Safety Concerns– If the app uses an Extended Reality controller, then the user may clash with other objects provoking harm at both ends. Moreover, the user may trip over an obstacle while moving around, causing them to lose their balance. Intel has put together guidelines on creating a safe, comfortable, and immersive VR experience.

Conclusion

Extended Reality (XR) is creating breakthroughs in finding unique ways to interact with clients. XR solutions are augmenting and increasing the productivity of many industries, including real estate, retail & eCommerce, education & training, entertainment, and more. We may see a world where virtual interaction prevails over real-life experiences in a more distant future.

Agriculture, Blog

Creating an Effective Agritech Ecosystem: The Role of Each Stakeholder

December 15, 2021 [x]cube LABS

Table of contents

Role of Each Stakeholder in Creating an Effective Agritech Ecosystem
To get agritech right, thoughtful collaboration is key

Every year, nearly one-third of the food produced for human consumption gets lost or wasted. The huge losses, especially at a time when meeting global food demand is a challenge amidst resource scarcity and climate change, are unaffordable. This is why global leaders and agriculture stakeholders are leveraging digital farming with emerging technologies. But it is a known fact that the agriculture industry is a complex and vast ecosystem and it will take a lot more than independent and fragmented digital solutions to achieve food security and sustainability goals on a global scale.

In our earlier article titled Transforming the Agriculture Value Chain with Digital Technologies, we mentioned that independently digital technologies can improve efficiency and profitability but to create value, a collective approach is needed. In this article, we’ll talk about how different stakeholders can collectively work to create value that can result in a truly sustainable agriculture ecosystem.

Role of Each Stakeholder in Creating an Effective Agritech Ecosystem

Government:

One of the key stakeholders in the agriculture sector across different countries, governments are responsible for framing policies that define the state of agriculture. Through better policies and reforms, governments can encourage as well as push practices and technologies that can transform the future of agriculture. To create more effective policies and reforms, Governments need to work closely with agribusinesses, startups, research institutions, and the farming community to identify underfunded segments with growth potential and implement policies that propel their growth. Another area which governments should be looking at is R&D. This will encourage research that can lead to more breakthroughs in agriculture.

Agribusinesses:

Agribusinesses, primarily the established ones, play an important role in the value that can be derived from the overall value chain. They include companies related to cultivating and processing agricultural produce. They may or may not be involved directly in food production. Deere & Company, for example, doesn’t grow food but most farmers in the US own a tractor or other equipment owned by them. These agribusinesses need to work on two important things. First, improve focus on data security. With rising concerns around data security, they need to keep the process of data collection. Second, to gain farmer trust, particularly in the case of data that comes directly from farmers, they need to maintain transparency, and clearly communicate why it is collected and how it will be used. This will give them access to critical information that can be used to improve the processes and eventually contribute to sector improvements.

Startups:

Startups have been at the forefront of leveraging technology and innovation in business models to overcome critical challenges and improve the agriculture sector globally. As startups continue to unleash the power of innovation and technology, they face challenges of their own. This is where encouragement of venture capitalists, policies by governments can help them overcome the initial impedance so that they continue to innovate across the value chain by continuously identifying challenges and opportunities and finding relevant digital solutions for them. At the same time, startups would need to be sensitive to disruptions in the traditional model and its impact on growers and on the environment.

Growers:

In a lot of countries, digital adoption may face resistance from grower’s side for reasons such as lack of digital literacy, cost of adopting digital technologies, or lack of clarity on how digital solutions can bring better results i.e. projected results or ROI. This is where close collaboration is needed between growers, governments, cooperatives, and agribusinesses to improve their digital literacy and address other challenges that cause resistance to adoption. They should be provided with opportunities to partner with food and ag companies directly which in turn will encourage both growers and their partners to create collective value and improve product quality. We see that especially when it comes to demand-supply planning or meeting consumer expectations of food transparency, stakeholders can’t meet certain goals without the contribution of growers- digitally and otherwise.

Tech companies:

Digitization in the agriculture industry is slightly more complex than in other industries. It goes beyond just adding new technology. It often translates into a cultural shift and typically brings about fundamental changes to how a business operates. However, given the scale and the complexity of the changes involved, the task of envisioning a clear roadmap that aligns with overall business objectives is often riddled with complexity and uncertainty. This is where the need for a strategic innovation partner comes in. Agribusinesses that partner with specialized digital technology and innovation service providers at a fundamental, strategic level typically see benefits in terms of rapid technology adoption as well as a highly flexible approach to innovation that adapts to changing market conditions by refining the strategy and orchestrating a mix of digital technologies to deliver optimum innovation.

Research Institutions:

The research area will be greatly impacted by digital adoption and vice-versa. While research institutions continue to do phenomenal work, they need to have a closer connection with the industry and the various stakeholders across the value chain in order to deliver greater impact. Modern technologies combined with the exponential increase in computing capacities, availability of large datasets, and strong modeling platforms are leading to the creation of new niche areas in research. At the same time, the research is helping improve the quality of crops, create more resilient seeds, devise efficient farming practices, help farmers get more value out of their crops, analyze complexities, and project scenarios.

To get agritech right, thoughtful collaboration is key.

In our report titled “The State of Digital Agriculture 2021”, we highlighted how the lack of a collaborative approach is preventing stakeholders from adopting digital technologies and agritech effectively. Undoubtedly, agritech is gaining pace globally as many stakeholders are venturing into the domain in some form or the other. The efforts are however scattered and independent. The lack of a collaborative approach between key stakeholders often leads to dilution of effective impact if we see from the view of overall benefit to the agriculture sector. Independent initiatives, especially within the value chain, often need an integrated approach that covers the needs of related stakeholders and fits within the ecosystem without significant disruption.

Every stakeholder, therefore, must be open to collaborating with the right partners in relevant domains and experiment with taking help from a variety of sources. They should adopt a more experimental, open approach and cast wide to adopt key technologies effectively. In that sense, the old templates for who to collaborate with no longer apply, and organizations need to have a more open outlook towards bringing in expert help.

Blog, Digital Transformation & Innovation, Healthcare

Digital Transformation of Healthcare in India

December 8, 2021 [x]cube LABS

Table of contents

Introduction
Industry Overview
Top Digital Transformation Trends
Conclusion

Introduction:

To state that the global pandemic has helped digital adoption across industries since 2020 would be an understatement. It has actually made business leaders scramble to adopt digital solutions or risk obsolescence. A development which allowed for no advance planning and improvisation as millions of professionals worldwide were suddenly forced to manage and sustain their business remotely could only be combated by emerging technology, and those who were still on the fence, weighing the pros and cons were faced with an evolve or die situation.

Of all the industries which had to make the transition, the case for healthcare was the most critical. Apart from patients diagnosed with COVID-19, medical facilities had to make all their healthcare and counseling services accessible online, or lose customers. Where before 2020 only 7% of care seekers used to consult with facilities virtually, the percentage jumped to 32% by the end of 2020 per an Accenture research in the USA. In India, a similar research by Katar and Medix global has revealed that 90% of the people who were surveyed are willing to use digital health apps and teleconsultations for their healthcare needs. These were people who were staunch believers of in-person visits to facilities before.

Industry Overview:

In terms of size, the Indian healthcare industry is one of its largest, generating major revenues and employment for the nation. The industry has an international appeal as quality healthcare is available at a fraction of the costs of other Asian and Western countries. It is projected to become a INR 8.6 trillion (USD 133.44 billion) market by the end of 2022. At times when in-person visits have become risky, such growth can only be fueled by digital adoption. The Katar and Medix global survey also asked the respondents on must-have features for digital healthcare apps, to which, the top 3 features requested were the ability to consult with doctors/nurses over video calls, assessing blood test results, and the provision to upload, share and manage medical records.

Top Digital Transformation Trends Impacting the Healthcare Industry:

Here are the top digital transformation trends driving adoption and giving us a glimpse of the future of healthcare in India

Electronic Medical Records: In recent times, the Government of India has introduced a bunch of new regulations and standards such as amendments to the Clinical Establishment Act for ensuring data compliance, the National Digital Health blueprint, and personal data protection bill. These initiatives have ensured that digital copies of a patient’s medical history, investigation findings, medication, diagnosis, and treatment are now easily accessible online or through authorized mobile applications. This has resulted in quicker information sharing among multiple healthcare facilities, transparent and fast communication between facilities and patients, and the ability to carry important documents with ease.
Diagnostic Information Management Solutions: Cloud technology has facilitated collaboration between diagnostic centers as well as center-to-customer communication by alerting customers on their mobile devices when their reports are ready, appointments are due, and follow-up procedures are to be done. This has resulted in improved customer experiences as they are no longer kept guessing when their reports would arrive and when they should be going for the next round of checkups. If the process involves collaboration between multiple centers, the reports can be readily accessed by all of them instead of customers having to carry them around.
At [x]cube LABS, we have helped one of the largest pathology labs in India, Dr. Lal Pathlabs, to achieve amazing customer satisfaction by deploying an intelligent digital interface that provided accurate timelines of when reports would be delivered, the ability to see how long each test would take and a comprehensive report at the end. The solution also helped the organization to keep customers updated in case there are delays caused by unforeseen situations. Overall, the communication between the company and customers reached a new level of promptness and transparency which greatly improved retention and loyalty.
Application of AI in Imaging: Radiologists are increasingly taking advantage of the advanced algorithms brought about by AI-based imaging technology. In combination with PACS (picture archiving and communication system), which transforms the paper workflow of radiology images into digital, AI is enabling practitioners and facilities to evolve to a more efficient style of working. Additionally, images analyzed by AI have high accuracy, and even small abnormalities do not go unnoticed, helping radiologists diagnose health conditions early and avoid complications.
Telemedicine: This facility exploded in popularity soon after the lockdowns imposed by the pandemic came into effect and continues to be a game changer for various health institutions. Not only has the ability to remotely consult specialists been beneficial to existing customers, but it has also enabled new customers to connect with specialists of their choice irrespective of location. Hence, facilities which used to have only a local clientele are now able to reach out to a much wider audience. Aggregators have also brought various specialists from multiple locations under one platform, giving patients a wider choice than they had pre-pandemic where only local health facilities were accessible to them.
Remote Monitoring of Patients: Tools that enable medical facilities and professionals to remotely supervise their patients, have their readings sent to them from time to time, and facilitate two-way communication have also become popular. More companies are entering the market with upgraded offerings as such tools solve two major problems. They enable professionals to monitor and diagnose patients remotely at a time when getting beds in hospitals could be difficult, and they also improve patient experience as they don’t have to visit the facilities in person for every checkup.
Online Training: Prior to the pandemic and the rise in popularity of digital solutions, medical training would mostly be imparted in person and aspirants who did not have training facilities near their location would have to travel to faraway cities and towns. Today, more and more institutes are starting online programs to help those interested in a career in the healthcare industry to learn the trade from anywhere in India. With e-learning platforms and simulators equipped with haptic feedback to make learning more immersive, several relevant training modules have now become more conveniently accessible to a wider range of the population, giving facilities more options to hire quality talent, expand and provide better care.

Conclusion:

Digital healthcare in India, like most other countries, has received a much needed shot in the arm and is maturing by the day. Organizations within the industry as well as enterprises enabling the industry to transition are thinking of novel ideas to further improve patient care, coordination between employees and facilities, and create smarter medical devices that make diagnosis faster and more accurate. The continuing transformation will ensure that more patients from Tier-II and Tier-III cities in India get the same high quality consultation and attention as those in big cities, and a stronger workforce will be built thanks to remote learning. Overall, we can be optimistic about the future of one of the largest industries of the nation and look forward to new and exciting developments in 2022 and beyond.

Blog, Enterprise Mobility

CISA’s Mobile Device Cybersecurity Checklist for Organizations

December 3, 2021 [x]cube LABS

Table of contents

CISA’s Mobile Device Cybersecurity Checklist for Organizations
About CISA
Conclusion

With increasing digitization, the number of threats faced by enterprises and consumers is also increasing, and they are becoming more grave and malicious every day. Last year, we shared 8 best practices you must adopt for your enterprise to strengthen cybersecurity. As the attacks advanced, so did the security measures, and a few days back we shared how you can use artificial intelligence in cybersecurity to secure your enterprise. The process of securing your enterprise against cyberattacks isn’t a one-time thing. You need to continuously keep yourself updated in terms of the threats out there as well as your own capabilities to defend yourself.

This is an area where even governments around the world are putting in efforts, in collaboration with cyber security organizations to protect enterprises and consumers globally.

To that end, just last week, The Cybersecurity and Infrastructure Security Agency (CISA) created an Enterprise Mobility Management (EMM) system checklist for enterprises to mitigate vulnerabilities and to help them secure themselves against cyber threats.

CISA’s Mobile Device Cybersecurity Checklist for Organizations

The guide lists some easy-to-implement steps that organizations can take across six areas: security-focused device management, user authentication, mobile app security, network protection, device protection as well as protecting enterprise systems from the device. Let’s take a look at what CISA recommended in their checklist:

Security-focused device management

Enterprises should be careful about supply chain risks while selecting devices and enable automatic updates on each device so that the latest updates are applied to each device instantly
Enterprises should make sure that only trusted devices are allowed. To qualify as a “trusted device,” a device must:
- Have the latest platform patch level
- Be configured as per enterprise standards of EMM.
- Not be rooted or jailbroken.
- Undergo continuous monitoring

If any device doesn’t meet the above criteria, it is considered an untrusted device and should be denied access to any of the enterprise resources.

Strong Authentication

Use strong passwords and PINS for devices and the passwords should be at least six digits.
Enable the use of biometric authentication such as fingerprint or face recognition
Two-factor authentication should be enabled for accessing enterprise networks

App Security

Use only curated app stores and disable all third-party app stores. Third-party app stores can spread malware
Enterprise apps should be isolated from personal apps. This should be done to avoid exfiltration between enterprise and personal apps. To isolate enterprise data, security container technology should be used
Minimize personal identifiable information that is stored in apps. This will make it difficult for attackers to steal data.
By default, disable sensitive permissions when you install new apps.
Restrict the backing up of enterprise data by disabling OS/app synchronization

Network Communication

Disable the network radios such as Bluetooth, Wifi, GPs, etc that are not in use or required. Each network connection is a potential entry point for attackers that can be used to steal data or control a device.
Attackers can use user certificates to hide malware and facilitate attacks. To avoid this, user certificated should be disabled and considered untrustworthy
Secure your communication apps and protocols because often, network attacks allow attackers to tamper with data in transit, resulting in data leak, credentials thrift, user tracing, and more

Device Protection

Implement a Mobile Threat Defense (MTD) system. The system can protect devices from malicious software that can pose a threat to apps and operating systems and can also access sensitive data. MTD systems are also capable of detecting improper configurations.
Use only trusted chargers and cables with the device. Malware can also be introduced through chargers or PCs and enable attackers to take control of the device.
Configure organization devices to function in a USB restricted mode that disables data transfer between devices
Configure the settings to automatically delete a device’s data if there have been a certain number of incorrect login attempts

Protecting Enterprise Systems from Device

Disable mobile device connectivity to critical enterprise systems as mobile devices can carry malware and create problems from business-critical applications, servers, and systems

Discourage users to establish connectivity between mobile devices and critical systems using USB or wireless mode

About CISA

The Cybersecurity and Infrastructure Security Agency (CISA), USA, leads the national effort to understand, manage, and reduce risk to the country’s cyber and physical infrastructure. They connect their stakeholders in industry and government to each other and to resources, analysis, and tools to help them build their own cyber, communications, and physical security and resilience, in turn helping to ensure a secure and resilient infrastructure for the American people. They are the Operational Lead for Federal Cybersecurity or the Federal “dot gov” as well as the National Coordinator for Critical Infrastructure Security and Resilience.

Source: CISA

Conclusion

As enterprises worldwide undergo digital transformation and adopt digital solutions, the need for securing those digital efforts becomes as critical as the solution itself. Without securing your digital ecosystem, you not only put your enterprise at risk but also your customers by making their data and privacy vulnerable to attacks and easily accessible by attackers. Other than the need for obvious security, another reason why you should level up your cybersecurity measures is that customers today not only look into customer experience as a parameter to choose you but also the level of privacy and data security that you offer. As an enterprise leader, if you’re thinking about how you can begin or fortify your existing cybersecurity measures, feel free to get in touch with us.

Blog, Digital Transformation & Innovation

10 Factors Defining Digital Transformation in 2022

November 30, 2021 [x]cube LABS

Table of contents

Factors defining digital transformation in 2022
2022- Another year of more technical advancements

Given the circumstances, many organizations undecided about digital transformation had to take the step in 2020, and the trend continued in 2021. The transformation was fast-paced due to COVID-19, a black swan event. But as we step into 2022, what does digital transformation mean for these as well as new businesses? What will continue and what new things can we expect? In this article, we talk about the factors that will play an important role in defining digital transformation across industries in the years to come.

Factors defining digital transformation in 2022

We already talked about Top 10 Technology Innovations we can Expect in 2022. But as we know, digital transformation strategy and execution is not only about technology but also about people (industry and organization culture) and processes. And of course, other factors that are associated with intermediary industries and markets also play a role in overall digital transformation. These include macro trends, global policies, new innovations and breakthroughs, speculations around upcoming trends and their impact on work in progress, and a lot more. Let’s take a look at some of the prominent ones that are likely to have the biggest impact.

Deployment of more complex 5G millimeter waves on the way

5G adoption in 2021 remained on track, as expected, but the deployment happened in the sub-6GHz bands. We can now expect the deployment and growth of more complex 5G millimeter waves. The low band 5G frequencies often feel only slightly faster than LTE despite being about twice as fast. This made some consumers unsatisfied as they felt that the promised speeds were not delivered. 5G millimeter bands will change that. mmWave has an edge over the existing 5G as it increases network capacity and efficiency, offers low latency, and delivers faster speed. So we can fairly say that even the trend of 5G is moving towards advancement. The deployment of mmWave will encourage consumers to not just adopt faster networks but also the devices that support them. A lot of companies such as Qualcomm, Samsung, Ericsson, and more are already developing network infrastructure that supports 5G mmWave.
Semiconductors to see more investments

As the 2020 pandemic drove a tech explosion, we saw more adoption of technologies that enabled businesses to function without disruption, effective communication, and productivity tools, and many more. This unseen growth or unprecedented demand for enabling technologies also caused a semiconductor chip shortage, as was evident from 2021 where we saw delays in production times of almost everything from a cell phone to automobiles. This is why we now see large investments in semiconductors to avoid similar situations in the future. Companies like Intel and Samsung, for example, have announced huge investments to build fabrication plants around the globe. While the impact of these investments may not be felt immediately, we can still expect these investments and developments to play a crucial role gradually down the line.
Hybrid advancements to accommodate the mega shift in the future of work

As expected, and as can be seen globally, remote work continues even at places where the pandemic has nearly waned. Companies across every industry are offering permanent, flexible, and hybrid working modes. And because such modes of working come with their own set of challenges such as ineffective communication and collaboration, we can expect more advancements in the tech space that cater to these challenges. These advancements apply to both hardware and software and enable superior quality collaboration for people connecting from different places. Microsoft Teams, Zoho One platform are examples of it. We can expect more in this space in terms of better collaboration and innovation.
More scrutiny and regulations for tech giants

Tech giants can expect intense scrutiny from governments across the world. The infamous monopolistic practices of major companies such as Facebook, Google, Amazon, etc, have created a lot of noise and raised an alarm among the users as well as legislators and governments. However, to expect a major antitrust reform is highly unlikely, at least in the near future. Even then, the need for regulating how these companies collect data and use it to have more control over users’ lives is clearly visible and we can see some progress gradually over the next decade, if not sooner. For others venturing into similar businesses, they can learn and establish themselves as brands that protect consumer data and offer better privacy to avoid similar challenges.
Privacy first approach for the next wave of tech regulation

Customers today are used to enhanced customer experiences. At the same time, with so much buzz around privacy concerns, they have become cautious about the data they volunteer to share with different apps. Taking note of that, some companies position themselves as “privacy companies.” Apple is a fine example of that. Now the challenges right in the face of businesses around the world are how do they strengthen their customer experience strategy and stay ahead of the competition with limited data or with thoughtful data practices. They also need to be transparent about how they collect data, how they use it, and how they will respond in case of data breaches, and how capable they are when it comes to cybersecurity. Simply put, they need to look for new sources of data and learn about how they will use it while maintaining the same level of customer experience.
The synergy of hybrid and multi-cloud

A major enabler, cloud technology, is set for an upgrade to how it is deployed. Hybrid cloud is the next big thing. Hybrid cloud refers to a cloud environment that is made up of on-premises infrastructure, private cloud services, and a public cloud, with orchestration among the various platforms. By leveraging an optimal mix of public and private clouds, companies aim to resolve challenges around computing and storage, including security and data access. Google Anthos, VMware, AWS Outposts, IBM Red Hat are some of the offerings by leading companies to help enterprises benefit from the power of hybrid cloud. 2022 will also witness the adoption of the multi-cloud model where companies will be seen using more than one public cloud to solve their business challenges, and it is going to get mainstream eventually due to the necessity of implementing it.
Everything-as-a-Service

We have witnessed how capital expenditures for software and infrastructures have been replaced with the OpEx model where technologies are procured based on a consumption basis. Whether it is enterprises or consumers in general, users want to pay for services as they use them and when they want them. With the growing popularity of this much more convenient and affordable model (in most cases), everything-as-a-service can be expected to reach its peak in 2022. SaaS companies for enterprises will benefit greatly from this shift. This shift has and will continue to enable digital transformation at a faster pace as enterprises can conveniently adopt new technologies without worrying about high one-time capital costs or the investment getting drowned in the event of the technology becoming obsolete.
The Metaverse

In our earlier blog post titled Facebook’s Transition to Meta: Metaverse, Controversies, and the Future, we mentioned how the metaverse will let you share immersive experiences with other people even when you can’t be together and the company is really optimistic about its growth in the near future. While one thing is for sure that we won’t be living in an envisioned metaverse anytime soon, we can still expect other companies to follow the trend. Microsoft, for example, recently launched “Mesh for Teams,” a metaverse-like product that allows people to create powerful 3D avatars of themselves for meetings where they don’t want to be on camera. We can expect more metaverse-positioning by companies over the decade, starting this year.
NFTs

This year we saw the rise of NFTs. We witnessed a lot of investments as well as noteworthy developments in the NFT space- the sale of NFT for $69 million by digital artist Beeple, to say the least. While from a distance we may say that NFT applications have been limited to, or the ones that caught mainstream media’s attention were limited to arts and game tokens, in the coming year, we’ll see more NFT use cases in business, given its desirable characteristics such as tradeability, security, indivisibility, and standardization, in addition to scarcity.
Elevated need for talent

To catch up with the advancements in technologies and new innovations as well as to reap the maximum benefits by getting an early advantage, tech companies and digitally transforming enterprises in general need talent that can help them quickly. The time spent in setting up in-house teams and training can often cost them opportunities. This is something we have seen in the past and we will continue to see in the future as well. The coming year will drive the need for skilled talent and would require companies to attract, nurture and retain talent in smart ways. This is where enterprises can leverage the services of companies like [x]cube LABS that help organizations that do not have teams to help them build digital solutions quickly. Instead of recruiting and training teams, you can work with a partner like [x]cube LABS and achieve results sooner.

2022- Another year of more technical advancements

Undoubtedly, the momentum given by the pandemic to digital adoption will go a long way. Companies that were earlier resistant to adoption for various reasons were compelled to take the step to stay in business. As of today and in the near future, digital transformation isn’t just about survival but also about staying profitable, efficient, relevant, competitive, and customer-centric. While on one side we see enterprises transforming rapidly, we also see innovation and new technologies being explored with equal pace. We are yet to see how each of the factors impacts the overall digital transformation landscape in general and how successful the emerging and new technologies will be. But one thing is certain, it will be more than 2020 and 2021.

Blog, Technology

Top 10 Technology Innovations we can Expect in 2022

November 24, 2021 [x]cube LABS

In today’s fast-moving digitalized world, technological innovations are taking place in the blink of an eye. With advanced technologies, such as IoT, AI, blockchain, AR and more being a part of the core strategy of organizations, innovations are driving industries to revolutionize and accelerate the digital transformation. Since Covid-19, the need for digitalization and tech innovations has fastened up and established its importance in today’s world. 2020 and 2021 have seen major developments in blockchain adoption, smart manufacturing, AR augmented retail applications and more. Thus, 2022 also shall bring in a wave of newer trends and applications of such technologies and it is exciting to see what lies ahead of us in terms of tech innovation offerings. Here are some trends we can expect in 2022 and beyond:

AI-enabled automation/ Hyperautomation

AI is known to power automation in various fields of business. Hyperautomation facilitates automation of most processes, reduces human intervention, fastens the pace of operations, and thus is highly beneficial for businesses. Ever since Covid-19 hit the world, the need for automating processes has been on the rise. To catalyze productivity and reduce costs, hyperautomation seems to be highly efficient. 2022 and beyond shall see increased adoption of hyperautomation across industries worldwide. Gartner predicts that the worldwide hyper automation-enabling software market will likely reach nearly $600 billion by 2022. In this digital-first world, hyperautomation has become a necessity in order to fasten up the digital transformation/acceleration process.

Decision Intelligence (DI) on the rise

Decision-making powered by technologies such as Artificial intelligence, machine learning, etc., allows for businesses to make data-driven, insightful, and faster decisions. These decisions are backed with significant data, and allow for problem-solving as well. Banking and finance giants, Morgan Stanley and Lloyds group use DI for their wealth management platform and other business processes, which gives them the opportunity to analyze customer behavior, attend to their needs better and give a personalized touch. Gartner predicts that by 2023, a third of organizations will be using DI for structured decision-making.

Smart city adoption

Forbes too talks about how smart city technologies will emerge to be a rising software trend in 2022 and beyond as the urban population demands more efficient and smarter cities. The global smart city market size is expected to grow from USD 457.0 billion in 2021 to USD 873.7 billion by 2026, at a CAGR of 13.8% during the forecast period. IoT, sensor technology, blockchain, and more play integral roles in smart city development. These digital technologies enable better decision-making, facilitate improved traffic management, energy conservation, climate control, and better quality of life.

5G

A wide range of industries from computing, manufacturing, healthcare, entertainment, and more have increased their adoption of 5G to enable a more connected and digitized world. 5G has the capability to address and work with technologies such as 3D robotic control, virtual reality monitoring, and more. It enables connectivity among objects, devices, machines, and more. 5G technology is the next advanced evolution of 4G and aims to enable a much faster pace of activities when compared to 4G. The 5G subscriptions worldwide are expected to cross 1 billion in 2022 (Statista). According to a Mckinsey report, in the B2B sphere, the total revenue for 5G IoT modules is expected to increase from USD 180 million in 2022 to USD 10 billion by 2030. This signifies the high growth rate 5G is expected to rise at. Also, by 2025, 5G networks are expected to cover one-third of the world’s population (GSMA). Qualcomm, Ericsson, Samsung, Huawei, are some of the main 5G players in the market.

Everything blockchain

IDC reports that in 2021, nearly $6.6billion will be spent on blockchain solutions this year, which is 50% higher than 2020 and will also face a 75% increase in 2022 amounting to $11.7 billion. It also reports that blockchain spending will see an increased growth (2020-2024) at a CAGR of 48%. It is also said that blockchain services will be utilized to track the distribution and delivery of vaccines in 2022. This application is also being increasingly adopted by retailers to track the delivery of products to customers more efficiently than ever. NFTs powered by blockchain technology are gaining relevance to claim one’s right over a digital asset. In 2022, it is also expected that blockchain-as-a-service shall be offered by major companies such as Amazon, Microsoft, IBM, etc. leading to the accessibility of blockchain in the marketplace. Acceptance of cryptocurrency in retail and other sectors is also considered as a possible change coming up in 2022 which brings us to the next trend below.

Cryptocurrency

Cryptocurrency has been the talk for a while now. In 2022 too, it is expected to grow to be a more relevant and adopted form of investment. Since Covid-19 cryptocurrencies have been through a roller coaster but this has not stopped the entry of newer cryptocurrencies into the cryptocurrency market apart from the well-known Bitcoin, Ethereum, and so on. Currently, the second-largest cryptocurrency Ethereum may take over Bitcoin’s first position in 2022 (Yahoo News). The acceptance of cryptocurrency as a legal method of payment may also increase in 2022 which will tackle its major obstacle and make room for newer cryptocurrencies and innovations within them. To tackle the unregulated nature of cryptocurrency and make it a viable payment method/currency, many countries such as China plan to launch their own digital currency. This will also reduce the misuse of cryptocurrencies. The retail industry too can expect major changes if retailers start accepting crypto as a method of payment, for which buzz was already created by Amazon in 2021 when it considered Bitcoin for product payments. Innovations to reduce the carbon footprint while mining such currencies can also be expected as the world urges us to take further careful steps and decisions keeping a greener environment in mind. Thus possibilities with innovations in terms of cryptocurrencies seem endless in 2022 and beyond.

Generative AI

Yet another application of AI, generative AI is set to raise the standards of AI use cases and provide reasons for organizations around the world to adopt it. It works on an algorithm that has the capability to use data in form of text, audio, images, and so on and generate similar content. This self-learning algorithm allows for higher-quality outputs. This application of AI comes with its set of limitations, and thus provides room for innovations and opportunities to come up with technologies/ways to tackle them. Healthcare can be majorly benefitted from generative AI, and IBM has already begun to leverage it by researching Antimicrobial peptides to find drugs for Covid-19. Gartner predicts that by 2025, generative AI may account for 10% of all data produced, which currently lies at 1% today.

Technologies running Smart Devices

From smart cars to wearables such as smartwatches, to TVs, smartphones, and more, various technologies have resulted in making our lives more convenient and tech-driven. IoT is one of the major driving technologies behind this connectedness of smart devices. The number of wearable connected devices is forecasted to reach more than 1 billion by 2022 as per Statista. With many more brands entering this segment, we can expect newer and interesting features added to the list. The wearables market, though dominated by smartwatches, is seeing many new products such as hearables, smart patches, and more. Applications of smart wearables in today’s Covid-19 era, to track Covid symptoms was a relevant and much-needed innovation and will continue to be as we fight to get rid of Covid-19 in 2022 too. Presently 4G, but 5G soon too will help with the connectivity of such devices. As per Statista, the number of wearable devices linked to 4G will increase by 89 million in 2022, connecting over 900 million people. Newer innovations such as smart helmets are also about to experience growth as they come with interesting features such as tracking speed, stamina, listening to music, GPS services, and more.

Cloud-Native Platforms (CNPs)

Gartner predicts that by 2025, 95% of all new digital initiatives will have CNP as their foundation, up from the current 40% in 2021. In the current times, the need to adopt cloud-native application/approach rather than the traditional on premises approach of infrastructure is more evident than ever. Mckinsey reports that by 2022, more than 70% of enterprises will depend on some form of cloud management tool for various business purposes. Taking cloud computing up a notch, CNPs aim to make infrastructure management effortless. Speed of service, reduced costs, auto scalability and more are some benefits of CNP. The global cloud revenue is $474 billion in 2022, as it becomes the core of business operations in this ever-so digitized world.

AR/VR powered “Virtual try on”

Revolutionizing the retail industry, this AR/VR trend is making heads turn with its innovative and catchy virtual try-on capability. In-store- AR mirrors/Smart mirrors provide a delightful experience to customers as they allow them to virtually try on clothes which also saves their time and effort to a great extent. According to Businesswire, the application of VR and AR in the retail market is projected to reach US$ 17864.86 million by 2028 from US$ 3790.94 million in 2021 at a CAGR of 24.8% for the forecasted period. This depicts the scope of innovation and adoption that is about to happen in this field. As of now, only major brands such as Ikea, Loreal, Nike, and so on are leveraging the potential of AR/VR applications in retail and hopefully, 2022 will see further increased adoption. Read more about applications of AR/VR we can see in the retail sector in 2022 and beyond here.

Conclusion

While these are just some of the tech trends we can expect in 2022, the actual number is quite high as organizations around the world are moving towards a digitally transformed space to operate in. With recent changes and situations, we have been subjected to, these technological innovations have proved to be our helping hand and continue to do so with their enormous capabilities. With every year passing by we are seeing increased adoption of technologies to deal with problem-solving, enhanced customer experience, reduced costs, and finally provide a competitive advantage in this ever so competitive world.

Automation, Blog, Virtual Reality

5 applications of AR/VR we can see in the retail sector in 2022 and beyond

November 18, 2021 [x]cube LABS

The retail industry is subjected to continuous innovations and changing trends that require the latest technologies to back up these innovations and to also keep up with the ever-rising competition and consumer demand. Customer experience is key here, in the retail industry and it has to constantly evolve in order to enhance and make the experience richer every day. With everything from groceries, to fashion to home decor products, now being available and sold online via the internet, the opportunities to experiment and bring in newer technologies has been on the rise. Like many other technologies, AR/VR is helping revolutionize the retail sector. According to Businesswire, the application of VR and AR in the retail market is projected to reach US$ 17864.86 million by 2028 from US$ 3790.94 million in 2021 at a CAGR of 24.8% for the forecasted period. Popular brands such as Loreal, Ikea, Burberry are already creating headlines and offering delightful experiences to their customers with the adoption of these technologies. The idea of exploring a store from anywhere in the world is definitely amusing to most out there, isn’t it? Also, with uncertain situations such as the Covid-19 pandemic, digital shopping has been on an all-time rise and thus the demand for AR/VR. Here are some AR/VR trends in retail to look forward to in 2022 and beyond.

Virtual try-before-you-buy

Even though this trend has been around for a while now, and has gained much-needed attention, it is still quite sparingly adopted(majorly by big established brands only) and needs a further push. Virtual shopping has taken the online shopping experience to a whole new level. This allows you to have an entire look at the collection and the store virtually, eliminating the need to do it physically. Convenience and eliminating the hassle of shopping are the key advantages of VR shopping. The big advantage for the furniture industry is allowing customers to be able to create an entire room or space according to their wish, and also be able to actually see how each item of furniture looks. Furniture giants like Ikea are already doing so, emphasizing the need for others to join in and get further more creative with it. Even among the makeup/cosmetic brands, only a few companies have adopted AR/VR by giving customers the option to choose the shade of lipstick majorly, and thus more innovation with other products can be something to look forward to. It will be interesting to see how different sectors in retail adopt these technologies to make the shopping experience furthermore delightful.

Enhancing in-store experience

In-store- AR mirrors/Smart mirrors help customers try on clothes virtually which leads to saving time and effort of trying them on and also makes it an experience to remember. This feature also helped deal with pandemic-related issues such as social distancing and stepping out of home unless essential, and thus can be helpful if any such uncertain situation ever arises in the future as well. Having unique features around the store and innovations that bring comfort to customers can also catch their attention. For example, Hyundai came up with an AR-based user manual. This eliminated the need to go through the boring, thick user guide and turned it interesting with this advanced AR version of it. According to Grand View Research, the virtual fitting room market size is expected to grow up to USD 15.43 billion by 2028 at a CAGR of 25.2% (2021-2028).

AR-Enabled Smart Navigation

Often happens that in physical stores, it takes us quite long to search for the desired product if the store is huge in terms of square feet, or other possible reasons. This AR-powered mobile app helps us navigate through the store to our desired location/product. It also gives a complete map of the store. This also reduces the need for human intervention in terms of people working at the store to just guide customers to the whereabouts of the products. The same app also helps display details of each product that is i.e. product information which is very useful for customers.

Enhancing marketing capabilities

What better than being able to give potential customers the feel of the product with a virtual experience? Exciting and delightful experiences shape the way for better brand recognition, word of mouth, and eventually sales. Customer engagement is the main driver for sales and customer satisfaction. Sephora is known for its amazing AR/VR solutions and innovation and has gained the kind of brand name it has due to it. Filters are a new way of promoting branded content. Instagram’s new feature allows companies to promote brand logos and events with AR filters. This is a way to keep millennials and other social media users to get their attention towards the brand. One plus also provided an innovative unboxing feature to their users to get an actual feel of the product. Pepsi, for their famous “Live for now” campaign had used AR technology at the London bus stops along with digital signage that almost brought the experience to life for the people passing by. Thus, possibilities with experimenting with AR/VR solutions are endless and have immense potential to enhance one’s marketing strategy online and offline.

Product Customizations

AR solutions allow customers to view products from all angles, change layouts, size and color modifications, and more to be able to figure out their best choice and ask the retailer to customize the product for them accordingly. Customers nowadays love the personalized feel of the product and wish to have their own touch to designs whether it be furniture or shoes or more. This feature allows for no wastage of products as they can be designed once for all post the requirements of the customer and need not be made in a variety of colors and sizes to try and suit the choice of everyone. Nike’s famous experience at the “Nike by you studio”, used AR to the best capacity and allowed you to create a shoe of your choice that would be ready within an hour.

Conclusion

Brands are benefitting from the adoption of AR/VR solutions and one example can be the 400% increase in inbound interest for companies such as Tommy Hilfiger and Charlotte Tilbury post implementing VR shopping solutions (Vogue). The apparel brand GAP has created its own app called the Dressingroom that allows you to try clothes through a virtual mirror. Luxury brands like Gucci to affordable furniture giants like IKEA are all immersed in AR/VR solutions now! AR/VR solutions are bringing in brand name, loyalty, and recognition and thus make it an integral part of brand strategy. Asian paints leveraged VR for enhanced learning and internal operations. This VR application provided interactive learning sessions for their sales representatives and also delivered learning to the dealers involved in the distribution chain of Asian Paints. With advanced and exciting technologies such as AR and VR, newer innovations are always on the rise and push the boundaries of what’s possible in the retail sector.

Augmented Reality, Blog, Virtual Reality

Facebook’s Transition to Meta: Metaverse, Controversies, and the Future

November 9, 2021 [x]cube LABS

Table of contents

Metaverse- what is it?
When did Facebook’s ambition to become a metaverse company start?
What is the possible reason behind this major shift from the earlier core vision?
Introducing Meta- the new social technology company
What are the implications of this rebranding?
Will others follow the trend?
Trouble for Facebook, again? Meta company sues Facebook for stealing its name
What does the future for Meta look like?

June 2021, Facebook CEO Mark Zuckerberg revealed his new ambitious initiative to his employees. He disclosed how the future of the company would go a lot beyond connected social applications and supporting hardware. The future of the company would be defined by an all-out, interconnected set of experiences that look like they’re coming straight out of a sci-fi movie- something known as the metaverse. Fast forward three months later, On October 28th, Facebook changed its corporate branding to Meta. In this article, we’ll take a look at the timeline of all the events leading up to this major rebranding event and what it could mean for the future of the company and its users.

Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD

— Meta (@Meta) October 28, 2021

Metaverse- what is it?

The term metaverse was coined in Snow Crash, a 1992 sci-fi novel by Neal Stephenson. The term was used to refer to a shared online space formed by the convergence of physical, virtual, and augmented reality. A lot of companies and products have already used metaverse-like elements. Fortnite and Roblox, for example.

Last year, venture capitalist Matthew Ball wrote an article on what is metaverse, where to find it, and who will build it. If we summarize the key takeaways from his article, the core aspects of metaverse will boil down to spanning the physical and virtual worlds, containing a full-fledged economy, and interoperability. It will not be run by any single company but will be operated by many of them in a decentralized arrangement.

When did Facebook’s ambition to become a metaverse company start?

Facebook marked its first presence in the VR space in 2019 when it launched Facebook Horizon, an immersive environment that people can experience using the Oculus headset.

Facebook’s large investments in virtual reality hardware and products are widely known, so are the short-lived failures that followed in that space. Despite that, Zuckerberg announced in July this year that Facebook intends to bet it all on metaverse. In August, Facebook made headlines for showcasing and promoting a VR app that lets people take meetings in virtual reality.

In September, Facebook also announced a $50 million fund for research in building metaverse products responsibly. This was followed by the announcement of a $10 million creator fund for their developers in their Horizon Worlds platform. Eventually, in October, Mark Zuckerberg announced the change of Facebook’s name at the company’s Connect event, which is focused on AR/VR, and shared that the new title, Meta, does more justice to the company’s core ambition which is to build the metaverse.

“I wanted to discuss this now so that you can see the future that we’re working towards and how our major initiatives across the company are going to map to that,” Zuckerberg said at the event. “What is the metaverse? It’s a virtual environment where you can be present with people in digital spaces. You can kind of think of this as an embodied internet that you’re inside of rather than just looking at.”

What is the possible reason behind this major shift from the earlier core vision?

It may come as a surprise to a lot of you but Facebook was, in fact, quite late in leveraging the mobile apps revolution. What we had back then were painful HTML5 experiences that were nowhere close to native apps that were fast becoming mainstream. It was not until 2012 when Zuckerberg realized that apps will define the future. Needless to say, he left no stone unturned in creating seamless mobile experiences for users. And since then, the company hasn’t overlooked any potential emerging technology to avoid repeating the same mistake again. This is evident from Facebook’s acquisition of Oculus in 2014 which marked their entry into the VR market. Becoming a metaverse company can be seen as an evolution of their venture into the virtual reality space.

Another reason, for this major rebranding, could be to distance themselves from the growing negative branding which Facebook has been through over the years. Despite the increasing business, Facebook has been in the limelight for all the wrong reasons, too. From the 2016 Russian elections disinformation and privacy lapse incidents such as the Cambridge Analytica scandal to the very recent revelations from a whistleblower who was a part of Facebook’s civic integrity team, Facebook is one of the most infamous tech companies when it comes to being under greater scrutiny than any other tech company. So it’s only fair to draw a line before venturing into something new and trying to rebrand themselves.

Introducing Meta- the new social technology company

Mark Zuckerberg introduced Meta at the Connect 2021 event on October 28th, 2021. Meta will be the parent company that brings together all the apps and products under one brand. Meta, as a company, will focus on bringing metaverse to life, and help people connect, find communities, and grow business.

Enter a world of imagination with Meta and explore endless possibilities in 3D. ? ? pic.twitter.com/I7AYtzei78

— Meta (@Meta) November 4, 2021

Speaking about his vision for Meta, Mark Zuckerberg said, “The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together — and do things together you couldn’t do in the physical world. It’s the next evolution in a long line of social technologies, and it’s ushering in a new chapter for our company.” You can read more about his vision for the company in Founder’s Letter, 2021.

What are the implications of this rebranding?

This isn’t the first time a tech giant has rebranded itself. Back in 2015, Google created a new parent company called Alphabet, as a part of their new corporate structure. Today,

Google is a subsidiary of its parent company Alphabet but colloquially, people still refer to the company or its products as “Google.” We shouldn’t be surprised if Facebook receives the same response. The only difference that we can expect is that metaverse would offer experiences that are way beyond connected social apps and therefore it may achieve a differentiating factor for itself when it comes to being recognized as a new brand in itself.

Will others follow the trend?

“Metaverse” has become a hot topic in the tech industry. According to a report by IG, Google searches for “metaverse stocks” have increased by a whopping 17900 percent ove the past one year! The rise comes from an existing market where companies, especially gaming companies, were already working around metaverse- Nvidia Corp and Unity, for example. The expansion is now set to go beyond gaming, and even social media, which we can say is the second most potential facet of tech for the adoption of the metaverse.

We are living in an age where the competition is cut-throat, whether direct or indirect. Especially when it comes to advancements in technology, no one, particularly the tech giants, wants to be categorized as laggards. To that end, Microsoft also recently launched “Mesh for Teams,” a metaverse-like product that allows people to create powerful 3D avatars of themselves for meetings where they don’t want to be on camera. We can expect more companies to follow the trend and explore more innovative use cases in the near future.

Trouble for Facebook, again? Meta company sues Facebook for stealing its name

A Chicago-based tech company, Meta, recently filed against Facebook for trademark infringement. The company has alleged that Facebook has “stolen” their name. Nate Skulic, the founder of the company, said that Facebook lawyers have been “hounding” them to sell their name. When Facebook failed to buy them, it aimed to “bury” the company by media force, stated the company.

“They couldn’t buy us, so they tried to bury us by force of media. We shouldn’t be surprised by these actions – from a company that continually says one thing and does another,” he said.

Facebook has not responded to the allegations and what happens is yet to be seen.

What does the future for Meta look like?

Distancing the company’s upcoming core business from a product that is becoming widely infamous seems like a wise move but rebranding entirely might require a lot more effort than expected. The core brand needs to be realigned with a product that is nowhere close to being mainstream yet, or not as relevant right now, to say the least. This doesn’t mean that it does not have potential, it certainly does, but it may take years for it to achieve mainstream success. Facebook as a social media platform has close to 2.5 billion users but their metaverse products, right now, have only a few thousand users. It has become quite clear that users aren’t aggressively demanding early headsets even when certain gaming platforms are driving their growth. Facebook claimed that their Quest 2 headsets sold much better than their other devices but the uncertainty still remains- would people be willing to embrace a world full of Facebook headsets strapped on them to embrace the metaverse?

Agriculture, Artificial Intelligence, Blog, Cloud Computing, Internet of Things

Top 7 Digital Technologies Defining the Digital Agriculture Landscape

October 19, 2021 [x]cube LABS

Table of contents

Top 7 technologies transforming the agriculture sector
Robotics and automation in agriculture for improved efficiency
Big data, AI, and ML in agriculture for data-driven decision making
Drones in agriculture for improved efficiency and increased automation
IoT and Sensors in agriculture to optimize processes, collect information, and enable strategic decisions
Cloud computing in agriculture to enable fast and real-time access to data from anywhere
Blockchain in agriculture to improve transparency and trust along the supply chain
Mobile apps in agriculture to Improve coordination and communication along the value chain
Conclusion

Climate change, disrupted supply chains, geopolitical conflicts, pests, resource scarcity, and many other factors have increasingly become a threat to global food security and meeting the rising demand for food. As the global objective of the agriculture industry moved to produce more with less, the need for efficiency, productivity, and profitability became more prominent. These objectives go hand-in-hand with sustainability goals. This is where digital technologies have played a key role and provided a ray of hope. Even though the agriculture industry has been comparatively late in adopting digital technologies, it is catching up with other industries and witnessing the benefits as expected. Our report, The State of Digital Agriculture 2021 talks about it extensively and highlights how global leaders in the industry are navigating various challenges with digital technologies. The report also features interviews of prominent leaders in agriculture as well as results from an annual survey that we conduct to understand the sentiments of agriculture stakeholders on agritech. In this article, we’ll talk about an important insight from our research- the key technologies that are transforming the agriculture sector today and seem quite promising in the near future too.

Top 7 technologies transforming the agriculture sector

A robust, resilient, and highly efficient agriculture ecosystem is what global agriculture businesses and stakeholders are looking for. Digital technologies are at the forefront of making it happen. While there are many independent and innovative digital initiatives happening on small and large scales across the world, and the value of none of them can be undermined, there are some technologies that have had a greater adoption and a higher impact. Here are the top 7 from the list:

Robotics & Automation
Big Data, AI & ML
Drones & Satellites
IoT & Sensors
Blockchain
Cloud Computing
Mobile apps

Let’s take a look at the scope, aim, and impact of each one of them.

Robotics and automation in agriculture for improved efficiency

Last year, one of the biggest impacts that we saw due to disrupted supply chain and movement restrictions was manpower shortage. With limited farm labor availability, farm operations took a hit. Farms that were early to adopt automation technologies were able to overcome this challenge quickly. Whether it’s remote monitoring of crops and livestock, automated harvesting of crops, or smart automated irrigation with IoT or drones, robotics and automation significantly reduce manual intervention and boost productivity. Additionally, high-precision robots can be used for precision sowing and picking of crops especially where maintaining grade quality is essential. The processes that deploy robotics and automation improve efficiency not just in terms of time but precision as well.

The agricultural robots market is projected to grow from USD 7.4 billion in 2020 to USD 20.6 billion by 2025; it is expected to grow at a CAGR of 22.8% during the forecast period

Source: Markets and Markets

ST Robotics’ agricobot is an example where robots are used to harvest asparagus. The challenge of tedious spear work involved and rarely available labor on short notice is overcome with the deployment of agricobot. As the robot runs alongside the asparagus bed, an operator sees the crops through a camera installed on the robot and selects asparagus to be cut.

Big data, AI, and ML in agriculture for data-driven decision making

As stakeholders deploy multiple technologies across the agriculture ecosystem such as sensors, engagement tools, and so on, there’s plenty of data that is getting captured. The usefulness of this data, however, depends on how effectively it is leveraged to derive meaningful insights. That’s where Artificial Intelligence and Machine Learning come into the picture. Advanced AI and ML algorithms are capable of working with structured as well as unstructured data. This data identify patterns such as which methodology or combination of parameters works best. It also provides insights that help to anticipate problems, optimize resource usage, and reduce the number of decisions to be made. From farmers to retailers, everyone along the supply chain is empowered with data-driven decision-making capabilities.

The overall AI in agriculture market is projected to grow from an estimated USD 1.0 billion in 2020 to USD 4.0 billion by 2026, at a CAGR of 25.5% between 2020 and 2026.

Source: Markets and Markets

Trace Genomics, a California based company, leverages ML to derive actionable insights by combining advanced soil science, genomics and ML to provide soil analysis services to farmers. Using their solution, farmers have access to data related to soil health and defects, and can make better decisions in time to produce healthier crops.

Drones in agriculture for improved efficiency and increased automation

An area where agriculture is likely to lead in terms of technology adoption as compared to other industries is the use of drones. We are yet to see drone-enabled delivery in eCommerce but we’re already seeing drones being implemented across agriculture fields for a variety of purposes. A quick soil health scan, large farm monitoring, applying fertilizers, spraying, collecting field data for further analysis, are just a few of the many applications of drones in agriculture that have made farm management easy and more efficient.

The agriculture drones market is expected to grow from USD 1.2 billion by 2019 to USD 4.8 billion by 2024 at a CAGR of 31.4%

Source: Global News Wire

Agremo’s drone software-based waterlogging analysis helped farmers to identify the areas on farms that were affected by waterlogging to save crops. performed automatic analytics of the aerial imagery using spectral data to identify differences in plant health. Then these areas were classified and quantified, and the insights were provided in a report along with the analyzed map and sent to the farmer within two days.

IoT and Sensors in agriculture to optimize processes, collect information, and enable strategic decisions

The Internet of Things and sensors have found a wide variety of applications in agriculture. From smart irrigation where sensors optimize water usage by measuring soil moisture level to remote farm monitoring and providing information in real-time, IoT has empowered agriculture supply chain stakeholders by increasing cost efficiency, reducing losses, and enabling everyone to make more informed decisions. Even the wide variety of data generation that we mentioned, is attributed to the capabilities of IoT and sensors to capture data which is later used in analytics to make strategic decisions.

The IoT in agriculture market size was valued at $ 16,330 million in 2017 and is projected to reach $48,714 million by 2025, growing at a CAGR of 14.7% from 2018 to 2025.

Source: Allied Market Research

Davis Instruments, a recognized leader in developing and manufacturing weather monitoring systems, wanted to build a connected weather monitoring system that can deliver better and accurate forecasts to farmers and enable them to be better prepared. [x]cube LABS delivered a farmer-centric agriculture app that provided a seven-day forecast and also allowed farmers to browse sensor data related to weather, irrigation, growth cycle and more.

Cloud computing in agriculture to enable fast and real-time access to data from anywhere

Cloud computing has been a driving force in realizing the extreme capabilities of other technologies. With cloud computing, the need to arrange for expensive hardware infrastructure, the cost of maintaining it, and the requirement to be technically skilled to manage it is eliminated. In fact, as we talk about the importance of real-time information available from anywhere in the world, the role of Cloud computing can’t be overlooked. The computing capabilities of the Cloud make data processing more efficient. All the processed data in the form of consumable insights can be made readily available to farmers, suppliers, retailers, and everyone else in the agriculture supply chain.

At [x]cube LABS, we helped a leading agri-inputs company by providing a Cloud-powered mobile app for their sales representatives who faced difficulties in handling demand requests from dealers within as well as from outside their own sales territory. We delivered an app that allowed sales representatives to monitor stock levels across various retailers and raise transfer requests whenever required. The Cloud capability allowed them to create and update requests as well as monitor the transits in real-time.

Blockchain in agriculture to improve transparency and trust along the supply chain

Blockchain, known for unmatched security and transparency is helping overcome some of the biggest challenges in the agriculture supply chain. These include tracking and tracing of agri inputs as well as produce throughout the supply chain, tracing the origin of food, as well as securing vast amounts of data, among others. Agri supply chains are often plagued with a lack of trust- given the challenges such as entry of counterfeit products, unethical sources of origin, tampered data, and a lot more. Similar to its application across other industries, blockchain helps to resolve this challenge in agriculture supply chains as well.

The global blockchain in agriculture and food supply chain market size is estimated at USD 133 million in 2020; it is projected to grow at a CAGR of 48.1% to reach USD 948 million by 2025.

Source: Markets and Markets

In one of our blockchain development projects for an agriculture company, we built a platform that facilitated donations from a global community of citizens and distributed those donations in a transparent and efficient way to community-based regenerative forestry projects. To ensure the transparency and efficiency intended, the currency used for this project was blockchain-based and similar to “green credits” for funding organizations.

Mobile apps in agriculture to Improve coordination and communication along the value chain

Communication and coordination have been one of the biggest challenges in the agriculture supply chain. The latest insights, updates, and communication in real-time can be brought to all the stakeholders in the supply chain with the help of mobile apps. Whether it is for inventory management and demand-supply planning, or for farmers to order inputs from suppliers, mobile applications can make the communication between supply chain actors seamless and quick, thereby improving overall efficiency. Not only this, mobile apps are now being leveraged as a knowledge repository for farmers too. Many companies, governments, and NGOs are using mobile apps as a medium to educate farmers on the use of agri inputs, best practices, and more, thereby serving as a convenient medium of communication.

At [x]cube, we have delivered mobile applications for various stakeholders. We developed a mobile app for sales team engagement of a leading agri-inputs company. The app focused on getting the core elements right, such as the ability to manage leads and contacts, collaborate with peers, provide learning and training content, employee engagement mechanism, and much more. We used [x]cube LABS’ proprietary engagement platform, Upshot.ai to achieve the desired adoption and engagement.

We created another solution for farmers to improve their access to markets and products. The solution facilitated on-demand delivery of agri-Inputs for farmers. Equipped with state of the art digital kiosks, touch screen, front camera, aadhar-enabled fingerprint scanner, and other features, the solution provided information on market intelligence, market prices, information on procurement centers, weather forecasts, and other services, apart from ensuring timely supply of agri-inputs to the farmers in their villages within 48 hours of ordering.

Conclusion

The current agriculture revolution marked by the implementation of emerging technologies is equivalent to the Industrial revolution 4.0. The technologies combined are creating an ecosystem that is not just resilient and robust but also serves the needs of individual stakeholders, gradually scaling the impact to meet the overall agriculture goals. It is to be noted here that for solving some problems, a single technology might suffice but for solving others, an orchestration of multiple technologies might be required- as we saw how IoT, mobile apps, and cloud come together to solve one specific problem. Even though each technology implementation comes with its own set of challenges or might appear difficult to implement at first, the potential and benefits are worth taking the first step towards overcoming resistance. The agriculture ecosystem is transitioning into a digital ecosystem that supports agriculture and the earlier one rides this wave of opportunities, the more it’ll benefit them in the long run.

Agriculture, Blog, Digital Strategy, Technology

Transforming the Agriculture Value Chain with Digital Technologies

October 7, 2021 [x]cube LABS

Table of contents

What does value chain in agriculture mean?
What does an agriculture value chain look like?
What are the challenges faced by actors in the agriculture value chain?
How can digital technologies help in overcoming value chain challenges?
Independently, digital technologies improve efficiency and profit. Collectively, they create value.

The global agriculture industry has evolved to become an extensive and complex ecosystem comprising numerous primary and ancillary segments that collectively facilitate the sourcing of inputs, growing of crops, product distribution, and a lot more. We’ve already talked about agriculture supply chain in one of our earlier posts where we mentioned how supply chain optimization can be effectively achieved with digital technologies. In this post, we’ll look at the production process starting from procurement to retail and consumer, not from a supply chain , but from a value chain perspective.

What does value chain in agriculture mean?

Globally, there is no standard definition of agriculture value chain. But going by how the value chain has been defined over the years, we can say that the agriculture value chain is the set of activities and actors responsible for producing crops and leading up to its final delivery to the consumers while adding value at each stage.

Now creating value is a tricky process in itself, especially in agriculture where different operations run independently. In our report titled The State of Digital Agriculture 2021, we’ve mentioned how various stakeholders, value chain segments, and businesses operate in silos which result in a lot of losses of produce, profits, information, and more. Basically everything that adds to creating the final value. We’ve also talked about how this has created the need for an integrated and holistic approach to how we see the value chain in agriculture. That’s where digital technologies come into the picture. But before we get into the digital side of things, let’s have a look at what an agriculture value chain looks like.

What does an agriculture value chain look like?

A typical agriculture value chain comprises of six stages:

Farm inputs: This is where a lot of decisions related to the selection of fertilizers and chemicals, seeds and planting materials, machinery, and equipment are made. The key stakeholders in this segment include farmers and suppliers
Farming, cultivation, and harvesting: This stage requires decisions related to crop selection, field layouts and designs, irrigation frequency, interventions needed to maintain expected growth, proper time, frequency, and method for plowing, weeding, and harvesting. Farmers are the key decision-makers here but they also work with suppliers, NGOs, Governments, and research organizations at this stage
Post-production processing and handling: This is the stage where farmers make decisions related to harvesting, precooling after harvest, cleaning or disinfecting, sorting and grading, packaging, storage
Distribution and transportation: Here, farmers, distributors, and transport companies collectively work to make many decisions. Some of these include decisions related to transportation to harvest fields, choosing threshing or drying site, farmer’s storehouses, or collection-center warehouses. How the crops are transported at various stages leading up to final retailers or wholesalers.
Retailing: At this stage, Retailers and intermediaries work on market linkage, pricing strategy, product marketing. It can also include intervention from the Government to ensure certain compliances
Consumer: Contrary to the popular understanding, consumers also form an important part of the agriculture value chain. The dynamic and changing consumer demands and preferences play an important role in influencing retailers’ and farmers’ decisions when it comes to the choice of crops, method of growing, and so on

Having understood the agriculture value chain, let’s now take a look at what are the challenges faced by the actors involved in each of these segments.

What are the challenges faced by the agriculture value chain?

The challenges faced across the agriculture value chain remain the same as the supply chain. An important thing to note here is that supply chain is the set of activities from product creation to end delivery and value chain is the set of activities that maximizes value during the process of product creation and delivery. Therefore, there’s not much difference between the challenges and the terms can be used interchangeably here. A well-integrated digital supply chain can ultimately lead to an enhanced agriculture value chain.

Challenges in sourcing farm inputs
Farmers often lack access to market information and transparent pricing and if they switch to a new product, they also lack awareness about the right quantity of chemicals and fertilizers to purchase. There’s a significant need for access to market and product information and guidance on best practices.
Challenges in farming, cultivation, and harvesting:
The lack of guidance and information on best practices along with less information on product usage puts farmers at a tough spot where they feel unsure about the right quantity of resources to use, choosing the right crop to grow, information on the nutritional content of the soil, and more. In some areas, resource scarcity and labor availability also pose a challenge in growing crops.
Challenges in post-production processing and handling
Post-harvest, there’s a lot of losses in terms of quantity and quality. This reduces the value of produced crops significantly. These losses are attributed to lack of advanced infrastructure, poor storage facilities, timeliness and efficiency of operations, and more
Challenges in distribution and transportation
The challenges of poor storage and handling of crops also extend to the transportation of crops, resulting in damaged or poor quality. Additionally, this is the phase where theft and the introduction of counterfeits are quite common. This means that the end consumer is likely to receive products that are not original or high in quality as expected.
Challenges in retail
Retailers, even if equipped with modern solutions, might fail to be as efficient in their demand-supply planning if the previous segments of the value chain are not in sync with them. So a lack of integrated supply chain management is a challenge for retailers. They also have to rely on intermediaries and due to a lack of direct buying and selling platforms or restricting government policies, fail to achieve high-profit margins. A lack of information on product sourcing, nutritional content, and more also results in limited branding and promotions of products
Challenges in understanding the consumer
With consumers at the center of value delivery, it has become increasingly important to consider their preferences. However, the mechanism to track consumer preferences, collect information on their behavior, and access to insights is inadequate. This limits the ability of farmers to improve the value of the crops.

How can digital technologies help in overcoming value chain challenges?

As we can see, a lot of losses happen at each stage- be it the poor quality of inputs used to grow crops, compromised quality of crops harvested, crops damaged during processing, storage, and transportation, and a lot more. The cumulative impact on value is tremendous. This is where digital technologies are improving the way how value is preserved and created at each stage. Here are some ways digital technologies are helping to overcome challenges in the value chain:

Farm Inputs	Using precision farming, soil and crop health parameters can be determined accurately and these insights can be used to make more informed decisions such as resource utilization, the number of inputs purchased, etc. Autonomous tractors can replace the need for manual labor during the sowing and harvesting process Market intelligence platforms can bridge the gap between farmers and agri input companies and they can get access to products directly and be aware of market price
Farming, cultivation, and harvesting	Using topsoil mapping and soil testing, soil health can be determined. This enables precise estimation if the right quantity of fertilizers to be used AI-based crop monitoring and imaging can help farmers identify crop diseases at an early stage Drones can be used to monitor and spray fertilizers over large farms Smart irrigation systems that maintain soil moisture levels by preventing it from falling below the optimal level required Controlled-environment farming practices such as vertical farming can allow farmers to create favorable environmental conditions for crop growth despite unfavorable external climate
Post-production processing and handling	Automated harvesting and picking can improve precision Waxing or protective coating for fruits and vegetables for prolonged storage life Cold storage to store fruits and vegetables for a long period Controlled atmosphere storage that maintains an artificial atmosphere in the storage room Robotics for precise picking of harvests
Distribution and transportation	IoT and blockchain-based traceability solutions can help track the source of crops and identify counterfeit products Mobile apps and cloud solutions can provide real-time updates on the status of crops in transit
Retail	Information sharing apps for farmers for market insights to get them fair prices Direct selling platforms for farmers Availability of real-time information for better inventory management
Consumer	Blockchain in agriculture is also gaining importance quickly. Blockchain-based solutions can help track food source and origin Nutritional values can be maintained using precision farming techniques while growing crops Consumer analytics platforms can help understand consumer preferences better

Independently, digital technologies improve efficiency and profit. Collectively, they create value.

The scope of digital technologies in agriculture is widely known. With a wide range of use cases and proven results throughout the agriculture ecosystem already in place, it is only a matter of time before we start looking at the agriculture industry as an industry primarily supported, or enhanced by digital technologies. Initially, when agritech or the trend of using digital solutions to solve specific problems in agriculture set in, it started with the purpose of improving efficiency, maximizing productivity or output, and improving profitability. But like any other industry, the focus can’t remain separated from consumer-centricity for too long. Given the changing preferences and increasing consciousness of consumers towards their food, the agriculture industry has one more challenge to address- keeping up with consumer expectations and delivering value, while competing with others in the same industry. This is where digital technologies, when applied in an integrated and holistic manner, serve to create unprecedented value, as we saw in the examples above. Without a doubt, digital agriculture solutions will lead to overcoming the challenge of value delivery just as they have addressed other challenges already.

Blockchain, Blog, Cloud Computing

5 Ways in Which Blockchain is Improving Cloud Computing

October 1, 2021 [x]cube LABS

Cloud has now been integrated deep into all our business processes and functions. Right from watching Netflix to our everyday email exchanges have cloud computing as a base. AWS, Microsoft Azure, Google Cloud, Salesforce, and many more are among the top cloud service providers, used by everyone around the world. Revolutionary steps are being taken already for the future of cloud computing, such as Windows 365 that helps set up a virtual cloud computer anywhere in the world. The global cloud computing market is forecasted to grow to USD 832.1 billion by 2025 from USD 371.4 billion in 2020 at a CAGR of 17.5% during the given period (marketsandmarkets). Blockchain is another innovative, evolving technology that is being adopted by millions of enterprises worldwide. Do you know how these two technologies leverage each other? Is blockchain in cloud computing further revolutionizing industries and bringing in innovative possibilities?

The fundamental benefit of integrating blockchain in cloud computing technology is to increase the security of data. Combining blockchain technology and cloud computing is like enjoying the best of both worlds in one unit.

Challenges of cloud computing

There is no denying that there are a lot of benefits to cloud computing. However, it also faces some challenges. Data security is crucial as the cloud stores also sorts of data that can be very confidential as well. In 2017, a security breach left exposed the personal data of almost 200 million voters in the US that were hosted on Amazon web services. Alibaba’s shopping website Taobao was also prey to a cloud breach that resulted in exposing 1.1billion user data. Hotel giant, Marriot’s division, Starwood’s data too fell apart after an invasion and the company had to face reputational consequences. Thus, data security breaches can not only cause a hole in the pocket for companies but also lead to loss of customers, reputational damage, and more. Along with advancements in cloud data security, blockchain also comes to the rescue, as it brings along its security enhancement benefit with it.

Cloud computing works in a centralized format and has huge servers that store the information and make it available to us with help of software. These centralized-based models often make organizations compromise on authorization, privacy, and security. Cloud computing often lacks trust as the information stored can be accessed by anyone, especially illegally by hackers and malware, and often leads to data leakage of extremely confidential data as well.

Blockchain in cloud computing

Applications of blockchain on their own, as well as when coupled with other technologies, provide a plethora of advantages.

The major challenge of cloud computing, which is security and privacy, is catered to when cloud computing is coupled with blockchain technology. According to Statista, in 2021, 64% of the respondents feel that the biggest cloud security concern is data loss/leakage. Encryption of data accounts for the security and protected databases that blockchain provides.
According to the same Statista report, 44% of the respondents also treat visibility/transparency as a major threat to cloud security as well. Blockchain helps construct a decentralized and distributed trust model that allows more transparency. Public blockchain allows every action to be visible and eliminates the hampering of data. Data once stored on the blockchain cannot be just changed by any person.
Erasing/misusing data from anyone’s computer on a blockchain network does not affect the data stored on other devices in the network thus guarantees no loss of data and authenticity.
It facilitates the user ownership of data which is the need of the hour. The data stored on a blockchain is permanently there. It allows for easy traceability of data, as to where, when, and how it is being used and by who. This proof of history for all transactions and changes made acts as an audit and authentication benefit.
Cloud computing involves third-party providers, and a crash/downfall of the third-party providers can lead to a huge loss of data for enterprises. Blockchains on the other hand are governed by codes and do not involve third-party provisions, and thus can be a safer option to move forward with.

Blockchain is revolutionizing industries for the better, including major industries such as healthcare, agriculture, finance, banking, and more. Our blockchain landscape report provides a detailed outlook on everything blockchain right from understanding how this technology operates, the impact it is having on industries, the regulations for it in different parts of the world, what the market for it looks like, and how [x]cube is providing such services to help you get started on your journey in building the right blockchain solutions for your enterprise.

Future of blockchain in cloud computing

According to a 2018 Gartner research on top emerging business risks, cloud computing tops the list. Cloud has become such an integral part of today’s business world, that the heavy reliance on it and the associated risks that come with it can be harmful and risky to work with. Majorly the security, compliance, and centralized-based model of cloud can pose a major business risk. Also, the panic that covid-19 brought in, made enterprises rush to cloud solutions and cloud computing companies, and not checking in with the right legal and compliance requirements, eventually risking their data security. Blockchain is positively impacting and making storage, transactions, and business processes safer, faster, and more reliable to work with. Thus, combining blockchain and cloud to enjoy more security and decentralization that brings in better authorization, privacy and efficiency is the way to go and look forward to. However, the challenges that blockchain itself faces such as the storage of data at every node, further security, and so on need to be worked on in the future. Further research on how to leverage this combination can help organizations combat issues that have been posing a threat to data, which is the crux of functioning and making decisions in today’s ever so competitive world.

Artificial Intelligence, Blog

Artificial Intelligence in Cybersecurity: AI Cyberattacks, Securing Your Ecosystem with AI, and More

September 23, 2021 [x]cube LABS

Table of contents

Recent AI-assisted cyberattacks
What is driving AI-powered cyber attacks?
The flip side of AI in cybersecurity and why you should implement AI in cybersecurity
Some early adopters of Artificial Intelligence in cybersecurity
Challenges in implementing AI in cybersecurity
Conclusion

On April 29th, 2021, hackers breached the networks of Colonial Pipeline Company through a virtual private network account. About a week later, the hackers sent a ransomware note that demanded cryptocurrency. What followed was a complete shutdown of the entire gas pipeline system in its 57-year history. The Colonial pipeline supplies nearly half of the East Coast’s gasoline and because of the shut down it had for several days, there was gas panic-buying, shortages, and price spikes. The attack happened due to a breach through a leaked password to an old account that had access to the virtual private network (VPN) used to remotely access the company’s servers. It was undoubtedly one of the largest cyberattacks ever on an American energy system and definitely brought to light how vulnerable the world is when it comes to cybersecurity. Businesses, governments, and individuals are taking measures to become more resilient to such attacks in the future and adopting various smart solutions as well. But guess what? Cyberattacks are getting smarter, too.

Recent AI-assisted cyberattacks

AI-assisted cyberattacks are becoming a rising security concern for everyone around the world. While cyberattacks are quite known, one may feel that AI cyberattacks are not as common. But the fact is that Artificial Intelligence cyberattacks have happened in the past and continue to happen. Hackers are leveraging machine learning algorithms and botnets and launching them across the web.

Taskrabbit, IKEA’s Gig-Economy Home Service Marketplace, Gets Hit By Hackers
Social security numbers and bank account details of nearly 3.75 million people were extracted by hackers in the attack on TaskRabbit in April 2018. The hackers used an AI-powered botnet that performed a DDoS attack on TaskRabbit’s servers. The consequences? The entire site was disabled until security was restored and an additional 141 million users were affected.
A botnet of over 20,000 WordPress sites is attacking other WordPress sites
Not long ago, around 20,000 WordPress sites were infected with a botnet which was feared to have granted the hackers access to critical personal information of users as well as their credit card numbers.
New Instagram Bug Raises Security Questions
In 2019, many Instagram users reported that they were locked out of their accounts. Instagram didn’t release detailed information or confirm the root cause but it was speculated that hackers used AI to scan potential vulnerabilities and carry out the attack.

These are just a few of the many incidents that have taken place over the past. And there’s no stopping yet. Just in case if you believe that having the basics of security checks such as firewalls, malware scanners, and secure CMS covered will guard you against cyberattacks successfully, think again. AI-assisted cyber attacks will only get worse.

What is driving AI-powered cyber attacks?

AI-powered cyberattacks are known to “supercharge” cyber attacks. Over time, they learn what types of attacks are more successful. The notorious Emotet Trojan is a fine example of that. Once considered rare, AI attacks are increasing every day. The reason behind this increase is simple- the same reason why AI is preferred over human efforts when it comes to solving problems. AI can reach (read: attack) far more computers than humans in the same amount of time. If one is using machine language, the cyber-attacks become more unpredictable, efficient and can surpass planned security efforts as well by learning on their own. AI cyberattacks are so fast that they don’t give cyber security teams the time to respond to incidents timely and can go on with repeated attacks without getting tired, unlike humans. As for the cost involved, AI bots are less costly as they don’t need to get paid. Another key reason is that it allows hackers to remain hidden and operate remotely, keeping them safe from getting caught. All these reasons are driving the use of AI in cyber attacks.

The flip side of AI in cybersecurity and why you should implement AI in cybersecurity

According to a report by meticulous research, Artificial Intelligence in cybersecurity is expected to grow at a CAGR of 23.6% to reach $46.3 billion by 2027. Implementing AI security measures help in taking preventive measures, proactively, making cyber security efforts more effective, and reducing the time taken to respond to incidents. Artificial intelligence is already changing how cybersecurity is addressed across all major industries by providing solutions that can analyze and respond to attacks in real-time, thereby improving the overall security. Here are more reasons why you should consider implementing artificial intelligence in your cybersecurity efforts:

Automation: AI can learn and be proactive. It can automate repeatable tasks and eliminate the element of fatigue which may arise in security personnel
Up-to-date arsenal: AI is an effective tool that continually learns and updates itself. This makes it a very useful security tool in your technology arsenal
Deeper investigations: One of the biggest advantages of AI is that it can read both unstructured and structured data, thereby giving more information you need to reduce time to detect and time to respond to incidents
Thorough investigations in less time: AI allows thorough and consistent investigations through automated data mining quickly and allows analysts to focus on strategic threat investigations
Alert prioritization: AI enables quick discovery of false negatives and false positives which helps analysts attend to alerts effectively by focusing on the most critical ones first and also reduces the chances of missing out on critical incidents
Better Vulnerability Management: AI quickly identifies vulnerable points in business networks and helps businesses take preventive measures by focusing on important security tasks
High data center uptimes: AI has the capability to alert before there is any major software or hardware fault so that it can be taken care of before any damage is done. This ensures a high uptime of network and security systems linked with it

In one of our reports titled The Secrets to Building a $100 Million IoT Business within 5 Years, and More!, we have extensively covered how smart digital solutions can be secured against various risks. We have also highlighted potential security weaknesses and targets and how you can start securing your solutions right from the development stage. Know all about how you can adopt top-notch security measures in this free report.

Some early adopters of Artificial Intelligence in cybersecurity

We’ve been seeing how Artificial Intelligence is leveraged across various industries to overcome many challenges, what we are yet to see with the same intensity is its application in cybersecurity. A lot of leading companies have already implemented AI to secure their ecosystem from threats and vulnerabilities. While it hints at their far-sightedness, it also creates an example and a proven model for other businesses to follow without giving thoughts on how it could benefit them. Here are few examples of early adopters of AI in cybersecurity:

Google: We have already seen how Google puts suspicious emails in the spam folder and alerts you if it finds anything suspicious in terms of login or data access. Not so surprisingly, Google has been using machine learning to filter suspicious emails ever since it was launched. Since then, deep learning technology has allowed it to evolve and get better
Balbix: Balbix is an AI-powered solution that delivers continuous and real-time predictions and analysis and alerts for vulnerabilities making it easier and more effective in controlling breaches. This also makes cybersecurity teams more efficient and potent by taking care of repetitive tasks and allowing them to focus on other critical tasks
Darktrace: A leading AI company, Darktrace, provides cybersecurity software powered by ML to analyze network traffic information and understand the behavior of each user and device. Based on the inputs and other training datasets, their software detects even a vital deviation from normal baseline user behavior and alerts the company

Challenges in implementing AI in cybersecurity

Even though it is ideal to implement Artificial intelligence in cybersecurity, it can sometimes get a bit challenging to do so especially if some common constraints are not considered initially.

Cost considerations: In the long term, the RoI from a robust AI-powered security system will be quite high. However, deploying and maintaining AI cyber security systems might require a lot of investment, depending on the size of your organization
Lack of available data sets: AI cyber security models rely heavily on different data sets to evolve and be more effective. If you do not have an initial data set available, you might need to buy different types of data sets which would be an additional cost
AI works both ways: Just like you, hackers are also making their algorithms more advanced by using AI. that can successfully breach your AI secured systems. Chances are that their AI-driven attacks might become resistant to your security algorithms
Can’t be completely relied on: Even though AI increases cybersecurity a lot more than human monitoring alone, they are still advanced enough to operate independently and require some level of human intervention

Conclusion

Undoubtedly, business leaders and cybersecurity professionals are acknowledging the scope of Artificial Intelligence in cybersecurity. But as of today, the solution can’t address all the problems and threats posed by hackers. Artificial Intelligence and Machine Learning are improving cybersecurity but at the same time, they are also being leveraged by hackers to commit cybercrimes to an extent that may no longer require human intervention from their side at all. The ideal thing to do would be a mix of both AI-powered cybersecurity as well as a human intervention that can synergize the intelligence to operate not just on a technology level but a strategic level as well.

Blog, Cloud Computing

Windows 365 Cloud PC: Leveraging the Cloud for Accessible Personal Computing

September 13, 2021 [x]cube LABS

Table of contents

Introduction
How is Cloud PC helpful for an organization?
How secure is a Cloud PC?
Opportunities and Seasonal Access
Conclusion

Introduction:

Windows from Microsoft has been with us for as long as we can remember operating with computers. Through all the shifts and transformations in the technological sector, Microsoft’s Windows has been a savior. Given the recent shift to the hybrid work scenario, Microsoft has come up with Windows 365 that will run on Microsoft Cloud and will allow customers to set Cloud PC with much comfort. The cloud environment has become a much-needed part of any organization or sector. With most of the data and operations transitioning to cloud, this step from Microsoft is very much applauded. With Windows 365, one can experience Windows 10 or Windows 11 in a virtual environment on any device. Windows 365 is highly compatible with any device and it brings out the best fusion of the cloud and the machine itself.

Microsoft has stated that they have launched this product service keeping in mind the state of the art of personal computing. Hence the name Cloud PC. Cloud PC works in a way that the capabilities of the device that it is being run on are fully utilized to provide a powerful experience of Windows 10 or 11. It uses an instant on-boot procedure that enables users to access all applications, tools, data, and settings in a personalized fashion from any device ranging from iPad to Android. The experience remains the same irrespective of the device it is being used on. One can begin from where they left off if they have been using a Cloud PC.

How is Cloud PC helpful for an organization?

Windows 365 supports all business-related applications including Microsoft 365 and Microsoft Power Platform. The most important feature that Cloud PC flaunts is the ability to customize in a very simplistic manner. One can choose the size of the Cloud PC as per their suitabilities while paying the charges monthly. Microsoft has offered two significant options for organizations with several Cloud PC configurations based on analysis of performance needs:

Windows 365 Business
Windows 365 Enterprise

Windows 365 allows you to manage the security and management policies of all your physical devices. Microsoft Endpoint Manager is consistent in providing the best way for you to manage all the physical endpoints of your Cloud PC.

It is important to understand that Azure Virtual Desktop makes up the majority of Windows 365. You can configure the processing power and the performance of the Cloud PC as per your needs. Through the use of powerful analytics, one can check their connection health across various networks thereby maximizing productivity. It is easy to identify when the performance needs of a user are not being met through the Endpoint Analytics dashboard and it also provides recommendations for upgradation processes which can be immediately applied in a beat. There is also a new service that is beneficial for diagnostic checks and monitoring connections’ running time and failures, known as Watchdog Service. It makes the system highly self-sufficient as it not only alerts you with the issue but also provides solutions for it.

How secure is a Cloud PC?

Cloud PC runs on the Zero Trust Architecture. The criticalities in security are usually addressed by design, storing, and securing the information on the cloud and not on the device. The login security and the process of identification are done through Multi-Factor Authentication along with the integration of Microsoft Azure Active Directory (Azure AD). Imagining how you can check login risks and access policies, simple – the answer is Microsoft Endpoint Manager. Through Microsoft Endpoint Manager one can delegate MFA with conditional access policies of Windows 365 and pair them.

One can also assign specific permissions to device management, licensing, and Cloud PC management through the feature of least privileged access. Even to assign specific roles and delegations, one need not require the rights of the global administrator. A high level of encryption is also done to keep access data, network points, and disk space secure while the traffic moves to and from your Cloud PC without causing a jiff of worry.

Opportunities and Seasonal Access

Through the introduction of Windows 365, a whole new arena of opportunities has opened for independent vendors and software developers to build Windows apps and sell them on the cloud to reach a broad spectrum of customers. Windows 365 has made the leveraging of APIs accessible giving a huge scope of new innovations and solutions for partners to develop.

Some of the services offered through Netrix, Content, and Cloud, Atos, etc can be used for system integrations while for midsize organizations partners like Nitec Solutions, MachineLogic LLC can support with additional services.

When it comes to seasonal access, temporary workers and interns can be authorized to use certain apps and services as per the needs of the organization through Cloud PC. This especially helps to manage large-scale operations and reduce the logistical and security challenges during the tenures of busy work waves.

Conclusion:

Cloud computing is here to stay in the world and with increased cloud security, its proper customization to fit personal needs is only a natural demand. Cloud PC is a huge step in this direction. It amalgamates Microsoft cloud and personal devices, inviting all sorts and sizes of companies and customers to up-step their technological aspects. Rethinking and moving in the new scenarios of hybrid work culture is the latest step and Windows is all set for it.

Augmented Reality, Blog, iOS App Update

Apple’s iPhone 13 could Feature Satellite Connectivity

August 31, 2021 [x]cube LABS

Table of contents

The iPhone 13 might feature hardware that can allow it to tap satellite communications
How does the Apple iPhone 13 satellite connectivity work?
Who can benefit from Apple’s mobile satellite communication?
What are the possible hindrances in the adoption of satellite communication-enabled iPhones?
iPhone 13 release date, price, and expected features
The Apple iPhone 13 satellite connectivity will pave new way for everything tech

It’s almost September. We’re at that time of the year where Apple fans wait for the launch of new Apple products, anticipating exciting features, guessing the specifications, predicting costs, and a lot more. And Apple, as always, doesn’t fail to build up the hype until the new products are unveiled. Last year, the iPhone 12 series came equipped with 5G connectivity, an A14 bionic chip, and claimed to be the “toughest” and “brightest” iPhones yet- with the ceramic shield technology, living up to the excitement by Apple enthusiasts. But if rumors are to be believed, then Apple is planning a major leap in innovation with their upcoming iPhone 13 series, outdoing themselves yet again.

The iPhone 13 might feature hardware that can allow it to tap satellite communications

Reports predict that the new iPhone 13 will feature satellite connectivity. This means that you can make calls and send texts in areas that lack cellular coverage. Yes, you heard that right. The hardware of the new lineup is ready to support communication via low earth orbit (LEO) satellites even in areas where 4G or 5G network isn’t available. This news comes from iPhone noted Apple analyst Ming-Chi Kuo. Speaking to investors, Kuo also mentioned that the LEO satellite connection might also arrive on Apple’s other products, including AR/VR headsets.

How does the Apple iPhone 13 satellite connectivity work?

Apple is reportedly working with Globalstar, an American satellite company, to enable satellite communication on the new iPhone 13. Qualcomm reportedly works with Globalstar to provide satellite connectivity over the n53 band on mobile devices using their X65 chip. However, the iPhone 13 series might get the same experience through the X60 modem. The new iPhone models may come with the availability of LEO satellite communications alongside mmWave and sub-6GHz 5G connectivity.

What can’t be confirmed at this stage is whether the satellite communication feature will support regular voice calls and messaging or be limited to Apple services such as FaceTime and iMessage. This appears dicey because to support regular voice calls and messaging, individual telecommunication operators would need to work with satellite companies as well to enable satellite communications.

Who can benefit from Apple’s mobile satellite communication?

If we look at the global network coverage statistics, we can see that many regions globally do not have network access. Many regions, especially the “remote areas,” have little or no access to mobile networks. A solution like the iPhone’s reported satellite connectivity can help resolve this problem.

Besides, many industries that work in remote areas of the US could benefit from satellite connectivity due to a lack of access to proper cellular network coverage. Enterprises that seek private communication systems off the public grid can also benefit from this advancement.

If satellite communication is actually introduced with the iPhone 13, as we expect, it would definitely create many opportunities in existing markets that are exploring technology and those that plan to do so in the future.

What are the possible hindrances in the adoption of satellite communication-enabled iPhones?

Primarily the cost. The innovative feature may not attract urban users who never face network accessibility issues. Still, it would be great to have for users and enterprises that work in remote areas with limited connectivity. However, the price of the iPhone 13 is likely to shoot up, given the costs involved in the hardware that enables this feature. Experts predict that if this feature is launched, the price of the higher-end model might go up to $2400. And let’s face it, not many users will be willing to spend that much money only to send messages and make calls when in a limited connectivity zone, given the fact that there is a usage cost, too- Globalstar plans cost about $8.95 per month for a single text message per day and $199.99 per month for unlimited calls.

iPhone 13 release date, price, and expected features

The Apple iPhone 13 series is expected to debut on September 14th, 2021, but Apple has yet to officially confirm the date. Similar to the iPhone 12 series, the iPhone 13 series is expected to come in four variants: a lower-end iPhone 13 mini, a basic iPhone 13, a higher-end iPhone 13 Pro, and the most advanced iPhone 13 Pro Max.

iPhone 13 specs could include an A15 Bionic chipset, up to triple cameras, 25W fast charging, and 256GB storage. Other significant upgrades the iPhone 13 series is expected to bring are the “Always-On display” feature and high refresh rate displays. The feature can surface notifications, time, date, and more when the iPhone is shut. Extended battery life and a face unlock feature with a mask on are also some interesting upgrades that we can expect.

While Apple is expected to keep prices largely the same as last year, the satellite connectivity feature, if implemented, could escalate costs and, consequently, prices.

The Apple iPhone 13 satellite connectivity will pave a new way for everything tech

As we mentioned, this feature from Apple would definitely be of interest to enterprises that seek private communication systems or to deploy satellite communications across their international workstations. So that’s one major benefit that we can foresee from this innovation. But the advantages would go a lot beyond that. This connectivity feature will also become a bridge that supports IoT deployments on a global scale, overcoming challenges of limited connectivity. This would extend to cars and AR/VR glasses, and so on. Successful implementation of this feature would also mark a turning point in mobile advancements as well as the mobile app development landscape. This move from Apple that is intended to develop “innovative user experiences that can be integrated with new products’ seems exciting, but we’re yet to see how this pans out.

Augmented Reality, Blog, Technology

The Rise of Education Technology Powered by Digital Innovation

August 26, 2021 [x]cube LABS

Table of contents

Introduction
Why is there a need to adopt EdTech?
What is the current scenario?
What are the new possibilities and trends?
What are the challenges faced by EdTech?
Conclusion

Introduction:

There has been a drastic change in the way education is imparted post COVID-19 pandemic.

Shifting of mode for the majority of classes from offline to online had forced many teachers to amalgamate their traditional methods of teaching with the applications of the web. The education sector at the global level was estimated at 89.49 billion US dollars in 2020, growing at a CAGR of 19.9% is expected to reach 377.85 billion US dollars by 2028. With the rapid development of other sectors with evolving technologies, Education Technology (EdTech) has also started leveraging the Internet of Things, Artificial Intelligence, Virtual Reality, and Augmented Reality which has contributed significantly to the global revenue.

Why is there a need to adopt EdTech?

Technology has become a primary part of the global industry and since students are more attuned to digital channels, the engagement with it must be healthy. Through technology, students can access a multitude of online resources, videos, and study materials. The integration of one-on-one learning has increased and the students are able to learn at their own pace. Learning through a digital medium is more hands-on and incorporates more creativity. Many schools have tried to bridge the gap between disadvantaged and privileged students by providing free tablets and phones. In the US, almost all 15-year-olds have access to a computer, while only a quarter do not. The implementation of technology in schools as a mandatory step during the COVID-19 pandemic has made education accessible to all.

What is the current scenario?

Currently, the market has seen a surge in the number of startups and other software companies building education-based products. The introduction of advanced interactive whiteboards, video-conferencing software with in-built classroom features, and assignment submission software are many such examples of recent products. There are proper Student Information Systems that have singular profiles of students that store and manage all data.

This data collected is further used for comprehensive analysis to find gaps and trends in the overall understanding of various topics in a particular subject area.

Gaming and entertainment have found themselves merging with the live-group sessions. New apps are highly interactive and they have adaptive touch features along with pre-recorded content and activities, which has also increased the participation of parents in the academic experience of their children. The EdTech is dominated by free online courses and lectures from various institutes where any student can enroll and learn a subject of their interest.

What are the new possibilities and trends?

Following are some new possibilities and trends in EdTech and how they will shape the future:

Artificial Intelligence and individualized learning:</h3/>

AI in education can drive efficiency, personalization, and streamlining of the process of learning. It has the power to substantiate the freedom of adaptability through the development of intelligent instruction design that identifies the gaps in knowledge a student is facing and provides them with challenges and new topics to appropriate. The next step would be that the AI will be able to grasp the student’s expression and recommend lessons as per one’s understanding. The curriculum will become more customized as AI becomes more sophisticated.
Internet of Things and global connectedness

The usage of IoT to support peer-to-peer information exchange is the best advantage that a digital medium can provide, for sharing of information and training materials, and promoting the accessibility of education. Student progress tracking and professional monitoring of the staff are also added benefits for the school management systems.
Augmented and Virtual Reality for hands-on learning

Virtual reality in education, with headsets creating entire virtual classrooms, are gaining significant traction. The immersive experience of simulations helps the students to learn through experiential methods. The use of AR to create an inclusive classroom gives an opportunity to creatively enjoy the process through engagement and the focus shifts more onto practicing a certain theory instead of cramming it.
Educational games

With mobile devices at the center of learning, organizations are also leveraging the pull and popularity of mobile games to drive the EdTech industry to success. Games motivate students to compete in an immersive and fun environment, and boost motivation and self-learning. At [x]cube LABS, we have helped a number of organizations implement effective gamification strategies to make learning less of a chore for a young target audience. Aside from gaining knowledge, games also develop non-cognitive skills, make learning social, and benefit students with special needs.

What are the challenges faced by EdTech?

The use of digital technologies and real-time data fetching leads to the creation of immense amounts of data. This amount of data is usually susceptible to breach, can cause disruptions to school operations and leak of information through school management systems. The lack of proper online testing platforms is also a current challenge, as, with the increase in the number of connected devices, in-class ethics has taken a hit.

However, the biggest challenge is the incurrence of the implementation and maintenance costs. For the deployment of an application platform, a dedicated technical team, software, and hardware license fee, and implementation of connected devices will be required, which is not affordable for all kinds of school administrations, especially those that are public-funded.

Conclusion:

The wave of the emergence of EdTech has posed a big question – what role will the teachers play? Availability of so much content comes with a huge drawback that is the lack of proper directions. Guidance from teachers will still be needed in accessing and navigating through this vast ocean of knowledge. The EdTech sector has seen the fastest growth in content delivery with better visualization applications. People with learning disabilities will also have better facilities as more and more advancement is seen in this aspect of educational advancement. Long-term learning has become a part of the adult lifestyle and corporate workers. Nonetheless, technological development in education is a long road, where prospects are still widening and gaps are being assessed to fill.

Blockchain, Blog

Growth of the Cryptocurrency and Blockchain Market in 2021 and Beyond

August 18, 2021 [x]cube LABS

Table of contents

Introduction
The cryptocurrency scene
COVID-19 impact
Key factors fuelling growth
What does the future look like for Blockchain?
How does Blockchain help cryptocurrencies and other industries?
Conclusion

Introduction:

It’s no secret that the Blockchain and cryptocurrency market is on the rise, with new currencies, and their values creating all the buzz. But how rapidly is the market growth in reality? It’s estimated that the worldwide market size will reach a whopping $1758 million by 2027, at a CAGR of 11.2%!

The cryptocurrency scene:

While the rise, proliferation, and adoption of cryptos have been in the news for long, several factors, hitherto unanticipated, have contributed to a massive spike in recent times. Enterprises across all major industries have come to accept that digital transformation is the way to go, resulting in the widespread implementation of Blockchain to solve key problems. The FinTech segment has also been quick to digitize currencies given the greater security and transparency it provides. Against that backdrop, the best cryptocurrencies were seeing a steady rise in popularity, and then COVID-19 happened.

COVID-19 impact:

The pandemic provided further impetus to the growth and usage of digital currencies. Across several key markets around the world, the exchange platform experienced a significant spike in trading transactions and the market caps of the currencies also shot up. With increasing digital adoption, the financial technology market is seeing major investments, giving the world state-of-the-art infrastructure that can handle a huge number of transactions securely. A KPMG study recently revealed that across Asia-Pacific, investments in financial technology had already exceeded 12.9 billion by Q4 of 2019. After the pandemic in 2020 and beyond, this number is only increasing and is slated to break all prior records in the coming years.

Apart from COVID and increasing investments, here are a few other factors driving the growth of cryptocurrencies.

Key factors fuelling growth:

Ease of Use: virtual or digital currencies such as Bitcoins, Litecoins, Ethers, and more are being used more in developed countries as people are finding the simple and flexible transactional methods easy and their long-term value lucrative. It’s simpler to buy and trade in bitcoins than traditional investment methods involving a bunch of paperwork and formalities.

Brand Support: when major companies and government bodies get behind a new system and use it actively, it establishes the system’s legitimacy and eliminates concerns about long-term feasibility. The Central Bank Digital Currency (CBDC) has added provisions for digital currency projects across many countries. Leading banks such as the Bank of Thailand, the Central Bank of Uruguay, Eastern Caribbean Central Bank, and the People’s Bank of China support cryptocurrencies as a medium of exchange. Couple that with organizations such as Facebook, which offer cryptocurrencies to expand their business, and you’ve got all the social proof that you need for peace of mind.

The In-thing: The culture around Bitcoin and other popular cryptocurrencies is playing a large part in attracting new investors and keeping existing investors in the space. According to many enthusiasts, the appeal of Bitcoin lies in the culture and “cool factor” that surrounds it. Add to it all the exclusive jargon, the conferences that see celebrity presence, close-knit communities, and you have the perfect recipe for success with the new generation.

Social Media Push: Influencers and celebrities regularly take to social media to talk about Bitcoin and other digital currencies, which go a long way in influencing the market and driving growth. Even for new currency launches, celebrity endorsements are sought after, to create the initial hype before the currency can take off. Popular platforms such as Reddit and Twitter have highly active and vocal communities that discuss everything crypto. As young, tech-savvy investors are also active users of social media, they are informed of all new developments and take the plunge as demand keeps driving growth.

The Challenge: Trading in cryptocurrency, and making the best out of it has become similar to a challenge that a lot of young investors enjoy. Leaving the comfort of “traditional and safe” savings options behind, the growing trend of high risk and high gains are influencing many, worldwide. The progress of cryptocurrencies is extremely dynamic, and things can change almost by the minute. Similar to a roller-coaster ride, such an experience is thrilling for those inclined to live for the present.

The Perceived High Value: just like gold, which has value because we have imparted the same to it, cryptocurrencies such as Bitcoin also have high values given to it by us. The more people invest in them and increase their value, the more people get attracted and hopeful that the price which they are paying for it will go up manifold, making them huge gainers. However, unlike gold, which has stood the test of time, can Bitcoin and others be as valuable as they are a few years down the line? The answer to that will be determined by how Blockchain evolves and the progress of digitization in this space as a whole.

Low Threshold for Entry: Though the price of Bitcoin has exploded over the years, one need not buy a full Bitcoin to grab a piece of the pie. Thanks to the currency being fully digital, it can be purchased in fractions so that one can invest a small amount and test the waters before going all in. Such small investments that can get someone a part of one of the most high-value currencies ever are enticing even more people to give cryptos a shot.

What does the future look like for Blockchain?

If we are to expand the statement made in the last paragraph about the value of cryptos depending on the future of Blockchain, investors would be happy to know that it’s not just FinTech where Blockchain is valuable, but it’s contributing to the transformation of many other major industries. With Blockchain-based innovation on the rise and increasing investments, the business value added by Blockchain is expected to grow to $360 Billion by 2026. Hence, if we are to look at continued Blockchain support to keep the cryptos secure, and valuable, it definitely will be available and get stronger.

How does Blockchain help cryptocurrencies and other industries?

Increases security: The ability of Blockchain to create records that cannot be altered and its end-to-end encryption provides top-notch security and invokes trust in parties who otherwise do not know each other. The data within a Blockchain project is stored on a network of computers which makes data theft extremely difficult. Additionally, by making data anonymous and needing permissions to restrict access, Blockchain puts concerns about privacy to rest, effectively.

Decentralizes structure: Further to the first point, the fact that no single party is in charge of a Blockchain network, makes it even more trustworthy to people who are a part of it. If we take supply chain as an example, several businesses such as suppliers, producers, transport companies, distributors, retailers, and more want information out of the network, but they are at ease knowing that no one person or business among them have the power to control all the data and manipulate them at will

Reduces costs: By making transactions more efficient, eliminating manual tasks such as data collation and amendments, and simplifying reporting and auditing, Blockchain helps organizations save significant costs. Additionally, it also removes middlemen such as vendors and third-party service providers who used to process data, helping businesses save money as well as time.

Enhances speed: by removing intermediaries and simplifying processes, Blockchain also improves speeds considerably and enables enterprises to complete more tasks in a limited time. Though how fast transactions can be completed depends upon their complexity, size of data blocks, and network traffic, Blockchain can handle most transactions in seconds, resulting in major productivity gains.

Improves visibility and tracking: Blockchain also enables individuals and organizations to trace the origin of products and determine important factors such as quality, complaint history, reliability, and more. For retailers, this is extremely helpful as the information enables them to manage their inventory better, and communicate with customers reporting problems or asking questions. Retail experts who are using Blockchain, report that they are immensely benefitting from this added transparency by getting to know if a batch of products is original, or in the case of produce, organic.

For instance, we helped Panini America, the world leader in the published collectible sector, go digital completely, and then implemented a Blockchain-based solution for crypto-collectibles which:

Ensures only authorized cards can be traded on the blockchain
Maintains a record of total cards issued
Eliminates hackable or fake digital cards
Improves the value of cards by attaching exchange record of each card with different bids
Helps users to easily validate a card as it can only be authorized by the issuer
Easily maintains card value

Conclusion:

Looking at the future, crypto and Blockchain are here to stay. While no one can vouch for how well the various currencies will hold their value over the years, current trends show no sign of the hype slowing down. As for Blockchain, the technology is seeing innovation by the day, and its wide range of applications across all industries, definitely makes it something that business leaders must consider in their efforts at digital transformation. Speaking of Blockchain and finances, we have some fascinating stories to tell of how we helped leading financial institutions such as DBS Bank and HDFC launch crowdfunding platforms and insurance platforms. Do get in touch with us, and we’d be happy to talk about how you can leverage Blockchain for your enterprise.

Artificial Intelligence, Blog

New Innovations in Artificial Intelligence and Machine Learning we can Expect in 2021 & Beyond

August 9, 2021 [x]cube LABS

New Innovations in Artificial Intelligence and Machine Learning we can Expect in 2021 & Beyond

Artificial Intelligence and Machine Learning are the technologies that have taken the world by storm. The current AI and ML market is valued at 58.30 US billion dollars and is expected to reach 309.6 US billion dollars by 2026 at a CAGR of 39.70%. Let us first understand what these technologies are? While Artificial Intelligence is a concept that can stimulate human thinking and behavior, Machine Learning is a subset of it that is used to create algorithms from past cases. Currently, there is not a single sector in the market that does not make use of these technologies for a better competitive advantage. They are transforming business processes and making operations smooth. Many business leaders around the world are incorporating these technologies in order to align with employee interests and organizational goals. Their significance rapidly peaked in the year 2020-21 and is only expected to grow. Following are the top applications that we can expect to see in the near future:

AI-enabled conceptual design
In many industries, AI is already used to streamline data, images along with language processing. In the future, we can expect that AI will be extremely popular in making new visual designs from a small text description.

Novel work can be created from past data. With this algorithm, AI will be venturing into creative industries and we will be soon seeing large-scale implementations of it.
Tiny ML
Microcontrollers are the keywords when it comes to TinyML. They can shrink deep learning networks to fit on any small hardware system. This has a big utility when it comes to hardware-restrained machines like cars, refrigerators, and other utility meters. What is even better is that these new embedded machine frameworks are enabling the highly powered AI-IoT devices into existence. Soon new approaches for their management and security will be capturing the market.
Quantum ML
Ever thought, what do you get when you mix Quantum computing with Machine Learning? An interdisciplinary area is known as Quantum ML. It allows technicians to take a classic ML algorithm and apply it to a quantum circuit so that it can effectively run on a quantum computer. Quantum computers have a very high computational power to solve taxing problems in really less time. Because of this feature, many applications like space exploration, understanding of nanoparticles, molecular modeling of new drugs and researches, complex pattern recognition, understanding the deep makeup of the human body, and so on, are possible.
Responsible AI
Responsible AI is a new term coined for a governance framework that is meant for a specific organization to address challenges related to AI from an ethical and legal point of view. Since this model works on the data collected and used, it is also able to frame accountability in case of a negative outcome. The aim is to promote interpretability and fairness. Given the current development of GDPR and other safety concerning laws, Responsible AI has multifunctional applications. It will not only differ as per the laws in each country but also as per each organization.
AI-powered automation
This is a new innovation that is transitioning from the early adopters of the industries to a technology used in all business sectors. Based on the predictive analytics as to the backend along with AI algorithms, the automation resulting from this mix is used to provide valuable insights. Work environments with complex workflows and tasks have the most potential for AI-powered automation. Decide, discover, act and optimize are the elements that drive this technology further. Automation is no longer used for simple tasks but to optimize the entire organization’s systems. This has been found to significantly reduce cost and increase efficiency. Intelligent automation which is Robotic Process Automation combined with Artificial Intelligence is the next step in the ladder. It uses cognitive bots for empowering business process automation and accelerating digital transformation.
No Code AI
Through the democratization of AI and ML, organizations are attempting to make them accessible to all. For non-technical people, AI tools are being developed in a visual drag and drop, workflow-driven fashion. Since the AI and ML structures require a complex framework for proper implementation, AutoML and end-to-end automation is applied for true no-code functionality. By identifying high-impact use-cases, building trust, initiating transformation, and fostering people’s understanding of embracing new technologies, only can an organization hope to achieve onboarding for all on AI/ML high wave. AI-based feature engineering backed with ML operationalization will be critical in bringing this democratization to reality.

Machine learning and Artificial Intelligence are powerful tools and paved the way for the need for more data scientists in the world. Since they are the crucial backbone technologies behind every innovation that ranges from simple chatbots to highly automated robots that monitor supply chains, they have a high demand even as a learning resource in the market. This field is continuously growing and developing with new forefronts in research. Smart cities, IoT devices, drones, and cloud computing applications operate on the implementation of AI/ML. In the fields of banking and finance, they were already used to detect frauds, but now even those levels are enhancing. It will always be a good endeavor to educate oneself on these technologies as the more time flows, the more they will be a part of our day-to-day lives.

Blog, Cloud Computing, Internet of Things

5 Key Cybersecurity Advancements to Secure Digital Solutions in 2021

July 30, 2021 [x]cube LABS

Table of contents

Introduction
Multi-factor authentication
Cloud services
Protection against Ransomware
Extended detection and response systems
Conclusion

Introduction

As the world has become more digital, new opportunities have come to the surface bringing along with them certain risks. Data in the name of information is the new currency. It is only reasonable that with the growth of the significance of data, the threats to its security have increased. The more delicate the data, the more sophisticated and untraceable the attack. The cybersecurity market is estimated to grow from 217.90 billion USD in 2021 to 345.40 billion USD by 2026 at a CAGR of 9.70%. This growth is attributed to the investments that have come from the increase in awareness of cyber threats to global organizations across all sectors. During the COVID-19 pandemic, the necessity of work-from-home practices caused a significant shift to adopting technologies like cloud, IoT, and virtual networks, leading to various government regulatory mandates. It thus becomes important to educate ourselves on the latest developments when it comes to cybersecurity. Following are the emerging trends and advancements in the field of cybersecurity that we must be aware of:

Increase in the use of Multi-factor authentication

Multi-factor authentication, or MFA, uses two or more pieces of evidence for the authentication mechanism while electronically logging into a system. This model usually helps weigh out many risk factors against valuable assets. One of the most common forms of MFA is using one-time passwords sent to an email or a message after entering the username and passwords. MFA authentication models are based on three aspects of additional information:
- Knowledge in the form of password or PIN
- Possession in the form of a laptop or mobile
- Inherence in the form of biometric or voice recognition
Protection of Cloud Services

The data shift to cloud computing systems has increased the chances of attacks on cloud services. Many cloud protection architectures have come into existence based on shared responsibility principles. Network segmentation, robust access management for user-level privileges, vulnerability assessment, password control, and disaster recovery methods are examples of security measures. Before migration to the cloud, business organizations need to trust and select cloud security providers that offer exceptional security and data protection resources with a proven track record.
Control over the Internet of Things and other devicesThe rapid increase in the use of IoT devices has increased the opportunities for cybercrime. Compared to a laptop or a phone, an IoT device has a lesser amount of memory space to install a firewall, antivirus, or other security application making it an easier target for hackers. However, despite the risk factors, there are many IoT security solutions that are available in the market to secure the IoT network. IoT end-to-end encryption methods when used along with public key infrastructure tactics can provide for the secure transmission of various types of data. Authentication of IoT devices is a must and the use of security analytics to detect intrusion and potential attacks is a good practice. The use of IoT devices is a great boon to technology nonetheless, it requires more vigilance and alertness.
Rise in mitigation tactics of ransomware attacks

Ransomware attacks usually use encryption techniques as a form of crypto virology to capture access to information from an organization or a person unless ransom has been paid. Ransomware attacks are not new to us but have existed as a threat for the last two decades. However, the emergence of cryptocurrencies has made it easier for attackers to commit crimes and escape in untraceable ways. Robustness and awareness play an important role in security against such attacks. Using a proxy server for internet access, maintenance of good recovery plans, backup, network segmentation, email controls, and monitoring ransomware access points are some of the ways ransomware attacks can be prevented.
Extended detection and response systems

Extended detection and response, abbreviated as XDR, are centralized systems that follow security orchestration, automation, network traffic analysis, and endpoint detection to provide security and generate a response in case of detection. This helps in providing visibility across endpoints, cloud systems, and networks thereby collecting threat intelligence for analysis to increase detection accuracy. Many XDR vendors are working on advanced security by expanding into identification, cloud access, and secure access service edge to improve security offerings with better operations.

Conclusion

The policy of the zero trust principle has led to the development of many platforms and software architectures as the businesses have moved beyond office perimeters. Not long ago the organizations that hardly used to take cybersecurity seriously are now investing in building strong defense systems for the security of the data and looking for more innovative solutions to bring to the table. This has also led to the rise in the need for skilled security professionals. It is an ever-evolving field and the people involved are always on their toes, making it an interesting arena.

Cybersecurity is all about outsmarting your adversaries. The quest to continuously look for potential vulnerabilities in your organizational system is intellectually challenging but at the same time financially rewarding. From the business perspective, it is too essential to overlook and regret later. As the attacker and hackers are becoming smarter, we should ask ourselves if we are doing everything in our power to combat their tactics and prevent them from happening. Cybersecurity is not just an essential business element but a necessary one.

Blog, Digital Transformation & Innovation, Energy & Utilities, Technology

Digital Technologies in the Energy Industry: How are they Making a Difference?

July 22, 2021 [x]cube LABS

Table of contents

Introduction
Automation
Blockchain
Drones & Remote Sensing
Internet of Things
Conclusion

Introduction

The adoption of digital technology has been significant in the energy sector in the past decade. Digital technology is not just a buzzword anymore, it has become a crucial part of this revolution. Post COVID-19, the energy sector has awakened more to the use of technology as the traditional way of doing business was disrupted and adaptability for innovation was the only solution. Automation, predictive analytics, machine learning, and cloud computing have found their way into the infrastructure of energy productions and operations. Energy 4.0 is the next shift and the more we know about it, the better we are prepared for the future. Let us find out the major technologies in this sector and how the key players of the market are leveraging these changes for competitive advantage:

i) Automation

Automation in the energy industry is still growing and is yet to unlock its full potential. As per the report from Capgemini, Intelligent Automation in Energy and Utilities: The next digital wave,a survey of around 530 business organizations in this sector was done and it was found that many such organizations are already implementing or experimenting with intelligent automation systems. Though much of the automation technology in this area is more targeted towards physical processes, non-core physical processes have more potential. For instance, redundant work of data entry and analyzing system trends can be fully automated giving more efficiency, better economic benefits, and improving employee experience. In many countries, utility companies use automation for a meter reading of energy consumption before billing the customer; this causes less scope of error and reduces time. Exeleon electricity and gas utility, a company based in the United States, uses RPA to resolve customer complaints and gain more insights on specific issues.

ii) Blockchain

Blockchain promises a transparent and secure system for business transactions, especially when used along with smart contracts. This characteristic has been leveraged as a boon by the business leaders in the energy sector. Many companies have enabled blockchain technology for wholesale electricity distribution connecting end-users of the grid. The concept of a peer-to-peer market has also emerged using this technology where people on the network can trade excess energy with other individuals. This system facilitates the decentralization of energy and creates a stable market with lower costs.

Power Ledger, an Australian company, has used blockchain to create and implement the concept of ‘Microgrids’. These are a cluster of interconnected loads with distributed energy resources. As of now, they exist on top of the national grid but can be self-sustaining. Blockchain can provide better efficiency and control over energy usage. It can be further used to record and analyze data for better predictions of market prices, fuel costs, and energy law compliances.

iii) Drones and Remote Sensing

The biggest application of drones has been seen in the renewable energy sector. Drones along with Artificial Intelligence, are able to track and monitor data like never before. Because of their ability to capture thermal and infrared images, they are highly utilized in the inspection of wind turbines and solar panels in the wind and solar farms respectively. Their efficiency to optimize the fitting of solar panels on a piece of land and overlay blocks of it is much more than the traditional methods. In the latest developments, drones are also used to de-ice wind turbines in cold climates by spraying liquid through a nozzle over the blades.

The data documented by drones is highly useful and can be used for analysis to detect patterns during weather shifts and landscape monitoring. Since AI is used to determine a pre-defined for drones to travel, the data collected can be enhanced using AI tools to increase accuracy and reduce costs.

iv) Internet of Things

Production of energy and its deliverance has become more sustainable after the introduction of IoT in this sector. The IoT-enabled devices, sensors, actuators, and analytic tools give operational insights into the maintenance of equipment and help the management of assets in a dynamic fashion. The best application of the Internet of Things in industrial management is the remote monitoring of equipment that functions on predictive maintenance that can send information on detecting an imminent error and can provide protection against damages and stoppages.

IoT has brought the decentralization of the grid as a reality. The smart grid technology based on the Internet of Things aids in the detection of minute changes in electricity supply and demand. Placement of sensors on substations and along the distribution lines help provide real-time power consumption data that is useful in making decisions regarding networking, voltage fluctuations, and control, load switching, etc. IoT not only helps in benefitting from a more distributed grid system but also improves grid management.

Conclusion

As the population is rising, the demand for energy is ever-increasing. The movement from non-renewable to renewable resources was inevitable. Digital technologies are helping the world’s energy organizations to move to a safer, sustainable, and more efficient future of energy. The continuous depletion of fossil fuels and the growing prices associated with the traditional resources is a wake-up call that the conventional methods of manufacturing and operations in this industry have become redundant and obsolete. The transition to innovation in the use of renewable resources and the adoption of digital technologies to enhance this process of transition is the new step in the ladder of moving to a better and more sustainable world.

Blog, Gamification

10 Monetization and Retention Strategies You Should Leverage for Mobile Games in 2021

July 16, 2021 [x]cube LABS

Mobile game monetization and retention are important factors to consider while you are starting on your journey of Mobile game development. It takes a lot of time and effort to build and maintain a game, an organization needs to figure out how to make money out of the game they are developing, not only to cover its costs but to make a profit as well.

According to businessofapps.com, “Mobile apps 70% of the whole revenue within the mobile app market with about 22% to 25% of the whole downloads. Mobile games constitute about 21% of all Android app downloads and 25% of all iOS app downloads”. With a vast market and platform for your game to be published, there is a great scope of trying out different monetization and retention strategies to bring money into the business by providing good quality games that will help retain your customers for a long time.

Here are 5 monetization strategies that can be the right fit for your mobile game –

In-App Ads

In-app ads can be a very effective monetization model for developers. In-app ads mean the developers will earn money from ads players will view while players can enjoy a mobile game for free. But developers need to strike a balance between the number of ads and the quality of the ads as bombarding a plethora of ads might affect user experience.

In-App Purchases

As an indie developer, it’s always better to go with a free model rather than a paid model for your game. In-app purchases can help make money from it even though it’s free to download and play. This gives the flexibility to try out the game first for free and once they get into it, they have the option to pay for additional content, extra lives in the game, coins, gems, and other in-game elements.

Premium model

If you’re an established mobile game publisher with a large fanbase, paid games can be the way to go. Some players don’t like in-app purchases. Some users are willing to pay money up front when they purchase the game and have access to ad-free content and access to in-game elements like coins and gems right from the start. Thus, as a developer, you need to weigh out the pros and cons of different scenarios.

Paid Subscription

Nowadays, a lot of developers are adopting subscription models to their games. Players make regular payments to gain access to additional game content, features, and items or to get an ad-free gaming experience. Some subscriptions are auto-renewable, while others are non-renewing. This model means players can enjoy the premium features at much lower monthly expenses on their favorite games.

Sponsorships

Sponsorships are like an upgrade to regular advertisements. This model allows you to directly interact with your advertisers and have full control over the ads you want to display in your game. Putting up advertisements that are relevant to your consumers’ needs will help in providing a better user experience.

Here are 5 retention strategies that can be the right fit for your mobile game –

Provide engaging user experience and offer limited-time in-game events

Creating games that satisfy users’ needs, making the gaming experience fun and just the right level of challenge is your first step to excellent user retention levels. Inclusion of in-game events such as the new characters/weapons available or log-in events can create an engaging experience and incentivizing user actions or game progress will encourage them to play on and improve your customer retention rate.

Efficient use of push notifications

Push notifications can improve the time players spend on your game as it serves as a reminder to players about a game, or let them know something in the game needs their attention. This encourages players to continue their mission, complete the next level, or make an in-game purchase. Being fun and relevant, without annoying users with too much frequency or spamming behavior should be a priority as it will improve user experience.

Retarget users through advertising campaigns

Retargeting can help to attract once active but now dormant players to start playing a game again or prompt players who played a game just a few times to play more. This can help to regain a particular group of users who have completed specific parts of a game. This may lead to more in-app purchases as there will be more users playing the game.

Ease of reach to users and good use of social media

As a developer, you can communicate with users that are unhappy with your product by addressing any concerns they have raised or letting them know you are working on it. This means customers will feel the developers care about their concerns. Proper use of social media to keep the players excited about a new update or character will also help in improving customer retention.

Track conversions, measure traffic source performance, and optimize for high LTV (Lifetime value)

Tracking your user conversions even after the app download will help you in making strategies to achieve high customer lifetime value and allocate your advertising spend efficiently. Continually improving and optimizing your business KPIs through data and predictive analytics will serve to finetune your advertising campaign and obtain the most valuable users with the longest shelf lives.

Artificial Intelligence, Blog

Google’s LaMDA Project: What it is and How will it Help Enterprises?

July 9, 2021 [x]cube LABS

Table of contents

Introduction
What is Google’s LaMDA Project?
How will LaMDA help enterprises?
Conclusion

Introduction

Google search has unarguably become the simplest source of answers for our queries in everyday lives. It has become second nature for us all to immediately open google search to get clarification on our queries. Just type your query, and there is your answer in milliseconds. But this simple search for us is not so easy when you consider what goes on in the backend of this query.

Chatbot technology integrated with voice recognition systems like Google assistant has changed the way we search our queries. Instead of typing in queries, we can just simply ask a query and get our answer. While the current technology can answer simple factual questions, human interactions or conversations are far more complex for Google Assistant to detect different languages, tone of voice, and human emotions in general. Thus, having long conversations with the current chatbots or virtual assistants lacks that human touch. This is the problem that Google LaMDA wants to solve.

What is Google’s LaMDA Project?

Focus of LaMDA

LaMDA stands for Language Model for Dialogue Applications. Google LaMDA focuses on having human-like conversations by leveraging Artificial intelligence to forecast what users need and assist them in clarifying their queries and enable users to have an open-ended conversation with Google Assistant.

Traditional AI System Shortcomings

For simplicity, what we have seen in traditional Artificial Intelligence systems is that it lacks a human-like conversation capability. While traditional AI systems can give accurate answers to simple factual questions but it struggles to have a complex conversation. While it can answer basic questions, it cannot recognize human emotion, cannot have a conversation between multiple topics simultaneously, and does not use predictive models to engage in a more human-like manner. This is what the LaMDA project intends to change.

How LaMDA differentiates itself from Traditional AI System

In contrast to the traditional AI system, LaMDA can vacillate between topics during a conversation while trying to make the responses sensible and specific. This will help Google Assistant facilitate engaging conversations with humans in a natural way on a wide range of topics. Google will also be able to answer everyday queries in a more friendly manner. In the future, there will be a focus on LaMDA understanding unstructured and complex information like videos, images, audio files and eventually integrate with Google Workspace to create improve the current capabilities of developers and enterprises.

How will LaMDA help enterprises?

Here are 7 ways in which LaMDA can help enterprises in the future –

Building intelligent and highly efficient chatbots

Chatbots are the best-suited technology for the LaMDA project. LaMDA can help enterprises build chatbots that have the capabilities to have a human-like conversation with customers which will ensure better customer satisfaction and improved customer experience. E-Commerce applications or websites can integrate these chatbots to improve the customer shopping experience.

Solving FAQs through AI instead of human customer support

Due to the repetitive nature of FAQs, instead of hiring individuals, LaMDA integrated assistants can be used to answer the questions. The benefit from this will be enterprises saving overhead and operational costs which will ensure better profitability in the long run. Since the chatbots will be capable to have human-like interaction with customers, they can answer the same query in a different manner depending upon human emotion and customer needs.

Improve user experience during the purchase

Integrated LaMDA AI chatbots can use Natural Language Processing (NLP) and use algorithms similar to BERT (Bidirectional Encoder Representations from Transformers) to identify customer preferences which will help in better product recommendation. LaMDA can build models that can predict human emotions which will ensure an improved shopping experience.

Better safety and privacy standards

Models which are trained on datasets from the internet may contain bias on specific topics that might result in them mirroring hate speech or spreading out misleading information. LaMDA will ensure high standards of fairness, accuracy, safety, and privacy are met as the models will take into account other forms of information external to the database to give an unbiased, accurate and fair response.

Mobile Applications support open-ended or guided conversations

LaMDA will enable open-ended human-like conversations. This is where mobile applications can benefit from the technology. E-commerce mobile applications can improve the shopping experience, while other applications can integrate it to answer FAQs. Gaming applications can build NPCs that can have open-ended and unscripted conversations depending upon the in-game cutscenes that will immensely improve the gaming experience.

Enhance interactive capabilities of newer tech products

Nowadays, the tech industry is flooded with newer tech products. LaMDA can improve the current conversational capabilities of various tech products such as smartphones, car assistants, smart speakers, and intelligent virtual assistants (IVAs). This will improve the overall customer experience while using these gadgets.

Ensure specificity, factuality, interestingness, and sensibleness in AI chatbots

LaMDA will help build models that will ensure the conversation is specific to the query asked and give factual but human-like responses that will keep the conversations interesting. It can help assign different personalities to different objects. During Google’s I/O event, the model was assigned the role of Pluto. Thus, the responses were given by the LaMDA model considering itself as the planet Pluto and gave human-like responses.

Conclusion

While the LaMDA project is still at a nascent stage. It has a long way to go. Eventually, these intelligent conversational models will be integrated with Google Workspace, Google Assistant, and other third-party applications to ensure human-like conversations. If it works and is widely adopted, we may see a shift in search behavior and will change the way we search queries, shop online, interact with customer support, and many other applications.

Blog, Education, Gamification

10 Ways in which Educational Games are Transforming Learning

June 29, 2021 [x]cube LABS

Introduction:

Engagement is important when learning or exploring any new information and mastering new skills. There is where game-based learning can prove to be pivotal during a student’s learning phase. Game-Based Learning plays a crucial role helps students in learning effectively by making students collaborate, communicate, interact and work in teams during different activities.

The core concept which differentiates game-based learning or gamification from traditional learning is its focus on repetition, failure, and the accomplishment of goals. Game-based learning takes this concept and applies it to teaching a curriculum. Students work towards a goal, have the flexibility to choosing the required actions, and experiencing the consequences of those actions. They are allowed to try again in case of failure which allows students to learn at their own pace. This results in an active form of learning instead of passive learning.

Game development can help take care of important metrics that are pivotal for student engagement such as academic performance, social-emotional learning (SEL), school climate, and attendance. Thus, it is very important to maintain student engagement to ensure a more pragmatic, interactive, and active form of learning.

How Educational games are transforming learning?

The population of urban game players is increasing day by day and the implications of how gamification or game development, when combined with educational technology that can be used for learning, cannot be ignored. Game-based learning can motivate self-learning and problem-solving skills in students to a great extent.

Here are 10 ways of how educational games are transforming learning:

Boosts motivation and self-learning

Due to lack of motivation students from rural or economically lower backgrounds drop out of school every year. Game-based learning can motivate the students to complete their tasks. The concept of a reward system in traditional games can also be used effectively from an educational perspective. In game-based learning, students get to progress instantly as they learn and understand certain concepts practically and begin to implement that learning in their daily lives.

Gives you the choice of what to learn

Game-based education gives students a choice regarding what they want to learn. If the children are made to play a certain game to perform a particular activity forcefully, it will have no learning benefits. If students have the option to choose what they want to learn, they have the curiosity to ask questions and be active during learning rather than being passive and learn more effectively.

Develops non-cognitive skills

In traditional classroom settings, not much attention is paid to building non-cognitive skills like patience, motivation, self-control, and perseverance. In multiplayer games catering to students from various schools, when students are allowed to participate in the activities as a representative of that school, it helps in building their communication, social and other non-cognitive skills.

Brings out collective potential

Traditional learning processes do not focus on understanding the benefits of collective learning and intelligence. Games help in reducing the risk of communal grouping and focus on foster development, interaction, collaboration, and engagement between students of different cultures or countries, thereby promoting collective intelligence and developing social skills.

Allows students to judge their potential

Game-based learning involves a large audience, unlike traditional classrooms which can help students understand where they stand among their peers from all over the world. Learners can challenge each other on various subjects and topics, which will help them to understand their potential level as compared to other people from their country or around the world.

Highly benefits students with special learning needs

Game-based learning is adaptive to new learning techniques and technologies, so students can learn at their own pace. Students with dyslexia or ADHD (Attention Deficit Hyperactivity Disorder) whose cognition is perceived as different rather than weak can also learn at their own pace and have a more interactive form of learning due to game-based learning.

Helps in skill development and relearning

Advanced technologies available, such as AR and VR, can train a person without having a separate skill development program through gamification. Game-based learning can be pivotal in the relearning industry. In certain scenarios, game-based learning combined with other methodologies is more effective than traditional methodologies.

Fulfills Core Psychological Needs

Gamification borrows the ideas and principles from traditional games and applies them to a non-game setting, which, when properly implemented, can help bolster the social dynamics in the classroom. Games fulfill different core psychological needs. Kids love to explore, act freely, and have a sense of challenge, social interaction, consistent feedback, and more. These components are valuable during their school experience and make learning more effective.

Makes learning more Social

Games focus on collaboration and allow a student to interact with another real-life player who is on your team and focuses on navigating situations and problem-solving solutions collaboratively and pragmatically. Brock University researchers found that “video game players, regardless of gender, reported higher levels of family closeness, activity involvement, attachment to school, and positive mental health.”

Improves Academic Performance

A game should not be too easy or too hard as it will demotivate the student to learn. A good game keeps students challenged and engaged in their zone of proximal development. Game-based learning allows for a faster and more pragmatic form of learning, which bolsters the students’ academic performances eventually by catering to a student’s cognitive and non-cognitive skills.

Blog, Devops Services

8 Ways in which a DevOps Approach Helps you Build Faster

June 24, 2021 [x]cube LABS

Introduction

A company faces a challenge during the product development and delivery phases of attempting to achieve faster product development without compromising the quality of the product. Along with faster product development, the process should be inexpensive and less time-consuming, which will ensure faster testing and delivery.

The DevOps approach can help a company to integrate their testing and product development processes and help software development and IT teams automate the process by building, testing, and releasing their product faster and more reliably. The quality assurance team helps in testing but using traditional procedures can always take up time and still miss the errors. This is where automating the process can help a company in the long run.

Companies should create strategies to develop expertise and ensure long-term commitment, by which they can market their products faster without compromising the product quality. Faster product development will help companies reduce Time to Market, or TTM for their products which will give them better sales, profits, leadership position, and flexibility.

How Can You Speed Up Product Development?

A company should always keep faster product development as one of its top priorities to keep customer satisfaction and retention high. Over the course of product development, expected and unexpected issues may crop up. This is where a good DevOps team can help overcome the hurdles to ensure faster product development.

Here are 8 ways by which the DevOps approach can help build products faster:

Ensure a well-rounded Product Development Strategy

Before kickstarting the product development process, a company must create a well-planned roadmap that can act as a blueprint in the long run. The product development strategy must have detailed steps like – Identifying the Market, fixing a Time Frame, and determine the key approaches which will help to overcome issues during product planning and launch.

Create or hire a good DevOps team

Choosing the right DevOps team for product development should be a priority. DevOps team can help automate processes right from the product planning phase to the product delivery phase. This will ensure a higher quality product and less time to market, thus, outsourcing a dedicated DevOps team that has the right mix of skill and expertise will help the company in faster product development.

This is where companies like [x]cube LABS that have dedicated DevOps teams can help a business grow and develop their product faster and can deliver services that are best suited to a company’s objectives and interests.

Defining testing strategy at an earlier stage

The product development team must create testing strategies that are both time-saving and effective. The DevOps team should choose tests that automate processes and help in conducting parallel tests, including regression testing and performance testing. Since highly skilled developers are required, in-house teams can be expensive. Thus, outsourcing to a DevOps team can reduce the time to market and come up with innovative products, and control costs effectively.

Using Agile Methodology

Agile methodology can create a time frame that is best suited for the company for product development and launch by breaking down the project into several iterations of equal duration, spread across a time period of 2-8 weeks depending upon the product requirement. Agile methodology can help create a minimum viable product with user-friendly features, and release it in the market quicker and get customer feedback faster.

Periodic Automated Testing

It is very important to conduct software tests regularly. New source codes are added or modified by software developers frequently, thus, testing has to be done so that the product works well on all the supporting platforms. Test Automation suites give you better insight into each product by analyzing the code’s memory contents, data tables, the contents of the file, and internal programs to check product performance and give an in-depth perspective into the code functionality, and help release a perfect product.

Right Software Development Technologies

Since there are a plethora of software development technologies available in the market which have their own set of strengths and weaknesses. Not selecting the right technology stack may cause roadblocks during product development. During a test software framework, Application Development Environment (ADE) can play an important role in the test systems. Thus, it is imperative to choose an ADE with multiple platforms and integrate it with measurement and control services.

Documentation of all the product development strategies

Documentation acts as a blueprint during product development as it describes the architecture and functionality of a product that is under development. Documentation helps to improve the quality of software, makes the code review process faster, makes it easier for new developers, and can make the product development phase both time- and cost-effective for companies. Well-documented error codes and FAQs guide developers to troubleshoot production issues as well.

Removing Unused Code

In large projects, the documentation could get into the hands of new developers. Any changes made to a code, even to a dormant code can inadvertently introduce bugs. Maintaining any codebase is a burden as developers have to go through all of it and having unused code can only create more confusion. Code clean-up or cleansing can speed up the development process and improve the quality of software.

Agriculture, Announcements, Blog

[x]cube LABS & Grand Farm to Launch a Report on Agritech 2021

June 23, 2021 [x]cube LABS

[x]cube LABS and Grand Farm Announce the Launch of Report on Agritech 2021: Transforming Agriculture with Digital Technologies, at Cultivate Conference in July 2021

We are happy to share that [x]cube LABS has created an in-depth report for agribusinesses and related stakeholders, aimed at providing value-driven insights and recommendations. This report, to be released soon, is a one-of-its-kind collaboration with multiple experts in the industry. Upon release, It will serve as a valuable resource for stakeholders who are starting their agritech journey by providing them a comprehensive understanding of the agritech ecosystem and insights on strategies and technologies that deliver results.

Putting this report together has been a very exciting journey for us. During the process, we connected with stakeholders from various segments of the industry and gained deep understanding on the many problems faced by them. We leveraged our extensive experience of working with global enterprises in the agriculture space to solve these problems and consolidated the information into a single, detailed report. We believe this will help agribusinesses stakeholders such as enterprise owners, startups, government entities, researchers, investors, and the farming community to view the space as an integrated ecosystem, contrary to how it’s seen today- fragmented segments that work independently.

Check out our press release regarding this initiative below.

DALLAS, June 22, 2021 /PRNewswire/ — [x]cube LABS announced today the launch of an agriculture industry-focused report titled ‘Agritech 2021: Transforming Agriculture with Digital Technologies’ in collaboration with Grand Farm, on Thursday, July 15th, 2021 at the Cultivate Conference. Agriculture today faces challenges such as climate change, sustainability, shifting consumer demand falling grower income, and more. In this context, the report will provide a comprehensive overview of the industry and propose potential innovation opportunities that put the industry on the best course for the future. In addition, the report, which will be available for free, brings in detailed insights from a comprehensive survey conducted by [x]cube LABS, covering stakeholders across all key roles and segments of the industry. The report will feature insights from industry experts, showcase innovative Agritech use cases, and publish results from an independent study of global agriculture stakeholders.

Speaking to the press, Puneet Kalia, AgTech business leader at [x]cube LABS, said: “Multiple driving forces are transforming agriculture in significant ways, and this creates opportunities as well as significant challenges for stakeholders in this space. This report put together in collaboration with key players across the agriculture industry, will fill an important gap and offer a comprehensive view of the transformative landscape at large. We’re excited to launch this report at the Cultivate Conference.”

The Cultivate Conference, hosted by Grand Farm, is an event focused on emerging technologies in agriculture and features attendees from leading agri-tech firms and research institutes.

“We’re excited about this collaboration with [x]cube LABS,” said Andrew Jason, Grand Farm Ecosystem Builder. “As the industry is set to undergo drastic innovation, they are a great partner to be leading this report as they’ve been leading digital transformation for years.”

About Grand Farm

The Grand Farm Education and Research Initiative, energized by Emerging Prairie, capitalizes on the region’s potential and expertise in the agriculture and technology industries. The Grand Farm Initiative will accelerate the research and innovation into technology that will be present on the farm of the future – impacting North Dakota, the United States, and the World by solving challenges in the agriculture industry and developing new opportunities.

About [x]cube LABS

[x]cube LABS is a leading digital transformation company working across diverse industries, including agriculture. [x]cube LABS has helped agriculture stakeholders worldwide with digital solutions that resolve critical bottlenecks and develop innovative digital products to transform customer engagement and business operations. Located in the US, Europe, and Asia, [x]cube LABS has worked with more than 30 Fortune 2000 companies and has developed a reputation as a high-quality partner for building digital centers of excellence, customer experience transformation, and IoT implementations. For more information, visit: http://www.xcubelabs.com

Blog, Customer Experience, Gamification

Top 10 Ways to Leverage Gamification for Great Customer Engagement

June 7, 2021 [x]cube LABS

Table of contents

Introduction
How can gamification strategy drive sustainable engagement?
How gamification can help drive better customer engagement?
Top 10 Points

Introduction:

Customer engagement is one of the biggest challenges for businesses today as there are various aspects to a business in the form of customers, users, employees, and technology. It’s very important to have the right customer engagement strategies in place. Customer engagement strategies are directly linked to the company’s overall profitability and revenue-generating capability as they influence apps and other digital products.

If a business has highly engaged users, then it can have better brand recognition and loyalty with lower customer acquisition costs and better customer satisfaction and retention. Thus, the right customer engagement strategies will reduce the churn rate for a company and increase the number of active users and time spent on your app, and user growth through referrals and word of mouth.

How can gamification strategy drive sustainable engagement?

Gamification can be pivotal in implementing customer and employee engagement strategies that can solve the customer acquisition and retention problems of a company. Gamifying an experience does not mean creating a game to engage customers. Gamification is more about applying game-like mechanisms and mobile game design to a non-game context.

Gamification can help businesses to nudge customers towards certain behaviors by rewarding those behaviors. This helps businesses to better plan their future business plans as they have a better estimate of customer behaviors and thus, it can be used in improving customer and employee engagement strategies. Instilling these behaviors will eventually result in sustainable engagement.

How gamification can help drive better customer engagement?

The best thing about gamification is that it can be applied to different industries. Gamification can be used for training company employees, building marketing strategies, and mobile application development. Gamifying can optimize customer experience by making an activity more rewarding and fun to participate in. A combination of both extrinsic and intrinsic motivators will motivate or push customers to become more engaged with the brand as a whole.

Here are 10 benefits of gamification specific to customer engagement:

Regular feedback and rewards

Customers like to be heard from the company regarding their queries and issues. Customer reviews or feedbacks can be very vital for organizations as it will help in improving customer engagement and rewarding customers for their continued engagement with the brand will improve brand loyalty.

Interface and user experience

Players prefer playing games that have a good interface and user experience. Leveraging gamification trends will ensure mobile apps, websites, and other platforms have a tailored approach along with being user-friendly and possess a good interface. A better customer experience will make customers coming back to an application or website which will increase the time spent on your website and eventually lead to more profit generation.

Training of corporate employees

Enterprises nowadays are employing gamification in their employee engagement strategies to tackle the challenge of staff engagement with the company. Deloitte for example used gamified elements such as badges, leaderboards, and status symbols which helped to reduce the time to certification for participants by 50 percent.

An efficient way of marketing

Gamification can be used in marketing by providing dynamic and entertaining solutions that can integrate into your website, app, or email campaigns to make user’s experience with your service more diverting and engaging. Carrying a sense of competition, gamification helps in triggering excitement in customers which in turn encourages customers to get eager for achievements and rewards.

Mobile application development

Mobile app gamification can help in applying gaming principles and gaming app design elements for non-gaming applications. Gamification enables companies to attract more users to any particular non-gaming application. Most app development companies prefer to create gamified apps which help companies to increase their online traffic.

Structured rules and goals

Games involve structured rules and goals. When gamification is implemented in campaigns and marketing strategies, customers feel motivated to attain goals, while sticking to the rules that you create. This allows the company to boost goal-directed behavior which could eventually serve as a purpose for call-to-action and making a purchase analogous to playing a game.

Achievable challenge

Gaming involves providing the player with achievable challenges. Gamification can be used by companies to create a sense of challenge in customers which could be collecting certain points, making a certain number of purchases to get rewards. This can be used as a part of a marketing strategy and will encourage customers to spend more time on your app and make more purchases.

Strong plot or storyline

A good game generally consists of a good story or plot. Gamification can be used to create plots that will help customers to remain focused on the brand while making them feel that they are central to the brand-making process. Plots should be market-driven and create more engagement with users and boost brand loyalty.

Social connection

Gamification can be used to improve customer acquisition and retention. Gamification should provide customers with opportunities to share their rewards, achievements, and their ‘plots’ with other friends or customers. Being socially connected with customers will help a business provide more opportunities to gain new customers and lower customer acquisition costs.

Integrated business planning

It is very complex to create a meaningful engagement through gamification if you considering only one aspect of your business. Integrating website or mobile app testing with behavioral economics with the help of data such as customer traffic patterns and purchase behaviors will allow companies to have a holistic approach during business planning and will help companies in the long run.

Blog, Digital Transformation & Innovation, Internet of Things, Technology

The [x]cube IoT Landscape Report 2021

May 17, 2021 [x]cube LABS

At the forefront of digital innovation is the Internet of Things (IoT). Combined with artificial intelligence and machine learning, IoT has emerged as one of the most powerful drivers of great customer experience and effective data analysis. In fact, it’s largely because of the IoT that we are able to gather such volumes of data on our consumers, helping us understand consumer behavior, preferences and making it possible for us to tailor offerings targeted at specific groups to increase sales and revenue.

From our extensive experience of developing over 75 successful IoT products and businesses worth $100 Million within 5 years, we have created an extensive landscape report that talks at length about how leading enterprises are leveraging IoT solutions, what new innovations can be expected across industries, the scope for business leaders and more. We have also added how we have helped businesses that were unsure about IoT, to take the first step and eventually launch all-new digital lines of revenue.

What you can expect from the report:

All the stats and projections-growth, spending (by verticals, geographies, and more), focus areas, etc
Technology deep dive-every component and system that makes up the Internet of Things
Securing IoT-the best ways to secure your solution
Use cases across major industries-healthcare, retail, agriculture, manufacturing, and more
Development best practices-the right approach to various phases from planning to live-ops

And much more…

Across every major industry such as manufacturing, retail, agriculture, healthcare, and more, organizations are looking for quality IoT services to augment several products which are used by a large number of consumers so each consumer’s unique requirements can be identified and met, getting them more invested and converting them to loyal brand ambassadors. If your business has a product that’s selling really well, it makes a lot of sense to consider whether IoT would be a good fit for the product as the resulting benefits can truly take your organization to the next level.

However, a lot of business leaders still remain on the fence when it comes to IoT innovation. Main reasons for their inertia being:

Lack of clarity on what to build
High expenses
Fear of low RoIs
Lack of a sound technical team

This is where our report comes in handy as it explains:

How to determine product market fit
[x]cube’s approach to helping business leaders overcome inertia
Development best practices
How to secure your IoT solution
Our insights on getting a high quality IoT product with low expenses and minimum overheads
Results you can expect

A few of our IoT success stories:

Mann+Hummel: A world leader in filtration devices, Mann+Hummel approached us to explore ways of improving their solutions and help them eliminate overheads. We zeroed in on IoT solutions as the technology of choice and augmented the devices with smart capabilities. This enabled the filters to carry out preventive maintenance, intelligently change operational patterns based on usage, and gave the organization the data they needed to understand user requirements and provide personalized solutions.

RYOBI: A common name among DIY enthusiasts who swear by the brand’s power tools, wanted to present them on a digital platform that would help them reach more users and give them a simulation of their products and range of capabilities. We helped them create a feature-rich, interactive and immersive application that helped them acquire and retain more customers than ever.

So follow this link and download the report for FREE! Please let us know what you think of it by mailing us at: connect@xcubelabs.com and tweeting to us @xcubelabs.

Blockchain, Blog, Internet of Things

Blockchain adoption in IoT

April 26, 2021 [x]cube LABS

Table of contents

Introduction
Opportunities with Blockchain- solution to existing IoT challenges?
Blockchain IoT Market Size and Growth
Challenges in adopting blockchain in IoT
Blockchain in IoT use cases
The future of IoT and Blockchain

Introduction

In 1990, the first IoT device device was created- a smart toaster that could be controlled from the internet. It was in 1999 that the term “Internet of Things” was coined. Fasttrack 20 years, IoT devices are so widely used, that by 2025, it is expected that 75 billion IoT devices will be connected to the Internet. IoT devices have created an ecosystem of value creation- by transmitting data across the IoT network. Businesses capture data from IoT devices to get insights to make better decisions. Implementing IoT seemed a win-win situation for businesses, except the fact that something critical remains unaddressed- the security concerns.

Many businesses are still cautious about IoT deployment on a large scale. The security vulnerabilities make IoT networks an easy target for cyber criminals to exploit. Other than security, IoT networks are faced with another challenge- scalability. With the growing number of IoT devices in a network, the capacity of current centralized systems to manage different nodes in the network can turn into a bottleneck, thereby necessitating heavy investments in servers that are equipped to handle data exchange on a large scale. So what’s the fix? Implementing Blockchain technology in IoT could be the answer.

Opportunities with Blockchain- solution to existing IoT challenges?

Blockchain, a form of Distributed Ledger Technology, has moved way beyond cryptocurrency since its inception and is finding its way into diverse areas and exploring applications when combined with other technologies such as IoT, specially to overcome the limitations of the latter.

IoT networks process data at multiple devices, managed by different owners, making it extremely difficult to identify the source of data breach in case of any cyber attack. Additionally, with multiple stakeholders involved, there’s discrepancy around the ownership. The challenge presents itself as a use case in itself and blockchain technology, popular for addressing security, reliability and scalability issues, seems like the most obvious solution. Here’s why:

Tamper-proof:Multiple parties involved in transactions are often concerned about trust. The distributed ledger, being tamper-proof, eliminates the need of trust.
Added security: The blockchain encryption makes it impossible to overwrite existing records. This adds an extra layer of security to the IoT network
Transparency: Authorized users can track and access transaction history. This makes it easier to identify sources of data breach.
Fast: Blockchain is capable of supporting a large number of devices at speed, tackling the challenge of scalability conveniently.
Reduced cost: Overheads related to gateways involved in typical IoT networks can be eliminated, thereby reducing costs

Blockchain as a technology was designed for securing transactions and interactions in the first place, but adoption of blockchain in IoT is still in early days. However, the development and research in its applications is in full pace. IBM Blockchain, for example, already allows extending blockchain into IoT.

Source: IBM

Blockchain, undoubtedly, will serve as a game changer for IoT. From eliminating the need for costly centralized IT infrastructure to fostering better stakeholder relationships with added security and trust, blockchain is sure to compliment IoT and the combined synergy will drive great business results. Many industries have already implemented blockchain with IoT- BFSI, Agriculture and Automotive to name a few. Supply chain and logistics have also witnessed increased adoption of smart contracts, doing away with the need for a central authority.

Blockchain IoT Market Size and Growth

The global blockchain IoT market size is projected to grow at a Compound Annual Growth Rate (CAGR) of 45.1% and reach USD 2,409 million by 2026, up from USD 258 million in 2020. This growth is attributed to the need for secure IoT networks, simplified processes, transparency and immutability. North American and Asia-Pacfic region will account for the most growth during this forecast period. Application wise, the asset tracking and management segment are likely to register the highest growth rate.

This growth is encouraging for Blockchain IoT companies and businesses that want to capitalize on the opportunities that come with implementing blockchain in IoT.

Source: Markets and markets

Challenges in adopting blockchain in IoT

Despite the huge potential, there are some factors that may impede the adoption of blockchain in IoT. For instance, the architecture for IoT devices that needs to be coupled with blockchain has to be different from traditional IoT architectures. Some more challenges to be aware of are:

Ability to scale: The large network of sensors involves a lot of data exchange and often causes latency. As you transition to a synergized IoT-blockchain network, the need for a clear and efficient data model must be taken into account either way to avoid problems at a later stage.
Privacy requirements: It’s difficult to get access to transaction history privacy in the shared ledger-IoT network on public blockchains. This needs to be considered beforehand to decide which one works best for business- hybrid or private blockchain
Processing power: IoT networks have different computing capabilities than the blockchain ecosystem. This means that not all IoT networks will be capable of running the blockchain encryption algorithms at optimum speed
Storage: The need for a central server to store transactions is eliminated with blockchain but the ledger has to be stored on the nodes. With time, the ledger will also increase in size and this could create problems for many smart devices such as sensors that come with a very low storage capacity.
Skilled talent: Before venturing into blockchain enabled IoT initiatives, businesses must have knowledge on how blockchain works separately and in combination with IoT
Compliance: Being a relatively new area, there’s lack of definite compliances to follow, which may deter many businesses from venturing into this area

Blockchain in IoT use cases

Blockchain capabilities empower IoT devices to enhance security, improve transparency and create a decentralized environment. This has started to significantly impact industries- not just BFSI, as one would think, but other industries as well. Let’s take a look at how the pairing of blockchain and IoT is revolutionizing industries in some IoT Blockchain use cases:

Supply chain and logistics: Due to multiple stakeholders involved across supply chains, end-to-end visibility and transparency has always been a challenge. While IoT resolved this challenge to a great extent by tracking shipments and collecting information at various stages, data security still remained a challenge. This is where blockchain serves to enhance the reliability and security. The data collected from sensors can be stored on blockchain and made available only to people listed in smart contracts, in real-time.
Pharmaceutical: Pharma companies are struggling with the issue of counterfeit medicines. To overcome it, tracking the complete journey of medicines is essential. This is enabled by blockchain coupled with IoT that can help monitor shipment of drugs from origin to end. The duo-technology can also be used to track legal change of prescription medicines’ ownership when it comes to sensitive products.
Agriculture: As consumers demand more transparency in tracing the origin of their food, blockchain helps agribusiness to meet this expectation effectively. Not just consumers, but even retailers and distributors can track the quality of produce, shipment conditions and more that can help them make more informed decisions. Farmers, too, can improve their growing techniques by looking at the data collected.
BFSI: The industry has already acknowledged the importance of smart contracts and added transparency when it comes to using blockchain technology. Combined with IoT, it has the potential to move beyond the pure telematics model to real-time data provided by IoT for various intelligent and automated solutions.
Telecommunication: In a recent advancement, Telefonica, in an attempt to provide enterprises with more secure means of tracking and verifying data gathered by sensors, decided to combine IoT and blockchain technologies. They emphasised on how critical it is for companies to ensure the accuracy of the information collected and eliminate any form of tampering.

The future of IoT and Blockchain

Iot and data go hand-in-hand. Adoption of Blockchain in IoT will not only improve operational efficiency but also provide a more secure environment. Implementing blockchain with IoT not just keeps a record of every transaction along the way but makes them tamper-proof, too. Streamlined with blockchain, IoT will improve processes across various industries, as we mentioned earlier in this article. The question of security, transactions, identity and interactions would often invite application of IoT and blockchain.

As already mentioned, the global blockchain IoT market size is projected to grow to USD 2,409 million by 2026, at a CAGR of 45.1% and the asset tracking and management segment are likely to register the highest growth rate. We can already see how the combination of IoT and blockchain technology is contributing to the growth of various industries such as healthcare, supply chain, agriculture and more in asset tracking and management. From planning resources, enabling and improving real-time communication to proactively managing enterprise inventory, the adoption of blockchain IoT has made asset management easier and more secure. This also helps to predict anomalies and identify patterns which help to optimize processes and enhance the overall supply chain traceability, and cost-efficiency.

Even though the duo-technology is at an early stage, this number clearly indicates how the potential of IoT and blockchain are well accepted and the adoption has already caught pace. Big tech companies are not waiting anymore, they are in fact taking initiatives. Which is another reason why enterprises that play in this area must proactively start looking at the combination of these technologies already to keep ahead in their digital initiatives.

Blog, Digital Strategy, Digital Transformation & Innovation

NFTs Explained! Beginner’s Guide to Non-fungible Tokens

March 17, 2021 [x]cube LABS

Table of contents

NFTs- Frequently asked questions
What Are Non-Fungible Tokens Or NFTs?
Why Are NFTs Worth Millions Of Dollars?
How Do NFTs Work?
How Are NFTs Used?
Where can people buy NFTs?
What is the size of the NFT market?
What determines the price of NFTs?
How do you own an NFT?
What are the benefits of NFTs?
What are the features of NFTs that make it so promising?
Is Investing In NFTs Worth It?
NFTs Through The Lens Of Visionaries And Thought Leaders
Recent Advancements and News in NFTs
The Future of NFTs- Promising or Uncertain?

We’re almost at the end of 2021 and it’s probably the right time to reflect on one of the hot topics of the year in the tech industry- NFTs. For the unacquainted, NFTs exploded earlier this year when $69 million for a digital image file made by digital artist Mike Winkelmann aka Beeple, became the third-highest purchased artwork after Jeff Koons and David Hockney. We’ve come a long way since then. Let’s take a look at where we are now, what’s new, and what the way ahead looks like. But before that, let’s take a quick recap of everything we know about NFTs.

NFTs- Frequently asked questions

What Are Non-Fungible Tokens Or NFTs?

NFT is a unique digital certificate attached to any digital asset, be it art, music, or video, confirming its ownership to the holder, which remains public and stored on computers across the internet. When this is combined with the cryptocurrency, backed by a digital ledger platform called blockchain, the result is non-fungible tokens. NFTs are non-fungible tokens, have no standard value like money, and instead have a unique value. An original digital artwork, for instance, would be non-fungible objects.
Why Are NFTs Worth Millions Of Dollars?

Each NFT is unique, characterized by its unique qualities and authenticity. These digital tokens cannot be duplicated. Authenticity plays a crucial role in the rise of NFTs. The tokens are easily verifiable and can always be traced back to their original creator.
How Do NFTs Work?

When you send bitcoin to someone via blockchain, a ledger entry gets made. In the case of NFT, a ledger entry is created, which contains an address to the file to establish ownership of that NFT. When someone transfers one token to someone else, the token code also gets transferred to another person. This process makes it easy to check on the blockchain who owns the NFT. Like Bitcoin, NFTs contain ownership details for easy identification and transfer between token holders. Owners can add metadata or attributes pertaining to the asset in NFTs. Our blockchain development service is a one-stop solution to create NFTs representing digital or physical artwork on a blockchain.

Earlier, when you buy pieces of offline art, you have to either custody it or keep it somewhere; that’s how the ownership is decided. But now, they can also be tokenized where a digital form of that art exists and whoever owns that token owns the actual art.

NFTs are individual tokens with extra information stored in them. That additional information is the critical part, which allows them to take the form of art, music, video in the format of JPG, MP3s, videos, GIFs, and more. Because they hold value, they can be bought and sold just like other types of art – and, like with physical art, the value is primarily set by the market and by demand.
How Are NFTs Used?

NFTs are being used as a means to sell exclusive items online and have the potential to be used to verify anything that would have value in proving ownership, such as original artworks, music, collectibles, domain names, even tweets can be sold as NFTs. For example, Twitter co-founder Jack Dorsey auctioned his first tweet in March 2021 for $2.5 million, converting the proceeds to Bitcoin and donating them to charity.

Although digital items and collectibles are one of a kind, there is also value in items that might have multiple copies, such as sports trading cards. If you want to know more about sports trading cards and NFTs, register for the online event for free here.
Where can people buy NFTs?

NFTs can be bought on online marketplaces. Some of the leading NFT marketplaces for digital artworks include:
- Opensea.io, the first and largest marketplace for NFTs
- Niftygateway.com, that teams up with top artists and brands to create and sell exclusive NFTs
- SuperRare.com, a marketplace to collect and trade unique, single-edition digital artwork
Lately, some traditional auction houses have also started to step up into the NFT space.
What is the size of the NFT market?

According to a report by DappRadar, the NFT market crossed $10 bn in transaction volume in Q3 of 2021, which is an increase of 704% from the previous quarter. The report attributes this high growth to two reasons- investors’ belief in NFTs and their long-term value, and the social capital associated with owning an NFT.
What determines the price of NFTs?

There’s no fixed parameter that decides the price at which an NFT is sold. It’s all about bidding and you sell an NFT at the highest possible price that you can get. However, factors such as the reputation of the artist, his following size, and gallery exposure play an important role in pricing.
How do you own an NFT?

Buyer and seller can connect directly without the need of a middleman, similar to a traditional auction house in the case of artworks. Since it involves crypto transactions backed by a ledger, the ownership is easily verifiable. Even if it has been sold multiple times, the NFT will carry details of the original creator as well as different sellers.
What are the benefits of NFTs?

NFTs offer a multitude of benefits that weren’t earlier addressed by similar tokens and currencies.
- Ownership: NFTs are embedded with unique signatures that represent ownership rights for both digital and real-world objects.
- No intermediaries: Since they are based on blockchain, parties can directly exchange tokens without the need for any intermediaries
- Secure: The entire process of trading is simple and effective, making the overall experience hassle-free
- Trading: NFTs can be easily traded for cryptocurrencies or other assets in exchanges built specifically for NFTs
- Difficult to replicate: Each NFT has a unique signature and is backed by blockchain. This makes it impossible to create unauthorized replicas
What are the features of NFTs that make it so promising?
Tradability: The interoperability of NFT makes it possible to trade NFT in different virtual environments and marketplaces
Security: NFTs are bound through end-to-end encryption with Advanced Encryption Standards (AES)
Scarcity: Since only a specific number of rare items can be created, your asset’s uniqueness increases significantly
Indivisible: NFTs cannot be divided into parts, unlike usual tokens and currencies. This makes them stay unique at all times
Standardization: Developers can develop common, reusable, and inheritable standards for all non-fungible tokens, thereby enabling standardization of collectibles
Is Investing In NFTs Worth It?

The most apparent benefit of NFTs is market efficiency. Investing in NFTs has a lot of potential, growth, and relatively high risk. Since NFTs can’t be duplicated, it creates scarcity for the asset hence value for it. The conversion of a physical asset into a digital asset opens up many opportunities for artists and investors. Physical assets like real estate, collectibles are much easier to divide a digital asset among multiple owners than a physical one, making it one of the best NFTs investments. Some of the most popular NFT marketplaces to get you going are SuperRare, Makersplace, Rarible, and Zora.

However, in any case, if you plan to invest in NFTs, you’ll need to dive deep into the complex world; you’ll need to think strategically, and you’ll have to do your homework.

NFTs Through The Lens Of Visionaries And Thought Leaders

Wrapping one’s head around NFTs can be enough of a challenge. As digital natives, we see this new technology really has its way of flipping our whole way of seeing things.

Creators, especially digital artists, have always struggled with copyright and plagiarism of their work. In the world of digital, it just takes a few clicks to make a copy of the media without having to compensate the creator. NFT solves this problem by acting as a virtual certificate of authenticity that ties original artwork with the token thereby providing unique status and because this token exists on the blockchain, it allows us to verify the authenticity on a public network.

However, there are concerns about NFTs skyrocketing value being a fragile speculative bubble that could crash at any moment, bringing down the investors with it.

Even Beeple, an artist who recently sold his art for nearly $70 million using this technology said– “The cryptocurrency art boom involving non-fungible tokens (NFTs) is an “irrational exuberance bubble”.

Seth Godin, in his recent blog on why he thinks NFTs are a dangerous trap, said,” The trap, then, is that creators can get hooked on creating these. Buyers with a sunk cost get hooked on making the prices go up, unable to walk away. And so creators and buyers are then hooked in a cycle, with all of us up paying the lifetime of costs associated with an unregulated system that consumes vast amounts of precious energy for no other purpose than to create some scarce digital tokens.”

Investor Gary Vaynerchuk said, “NFTs are like the dot com bubble. A lot of people talked about the internet being a fad. In reality, the internet was this game-changing revolution of technology, but a lot of the early projects were just overpriced on the excitement.”

According to Mason Nystrom, a research analyst at Messari said that the NFT sector is caught up in massive amounts of hype right now and that as a result, a significant portion of NFT is likely to fall in price at some point. Nonetheless, even with the present risk being relatively high, he expects the market to stabilize in the longer term.

Recent Advancements and News in NFTs

As we mentioned, the Q3 of 2021 witnessed a whopping 704% increase in transaction volume from the previous quarter. A key reason for this growth is the faith in the future value of NFTs and their potential across different markets. Here are some of the recent advancements we’ve seen in the NFT market:

Coinbase announced its upcoming marketplace for NFT: To diversify its revenue by attracting crypto investors, Coinbase announced that it’ll soon come up with its own marketplace for NFTs
Ripple recently announced the launch of their $250 million Creator Fund: to support digital artists and developers working on NFTs, Ripple tied up with NFT marketplaces MintNFT, VSA, and Mintable to accelerate their Creator Fund initiative
Steam, the digital distribution network of Valve to block cryptocurrency and NFT games: Justifying the move, Steam mentioned that they believe that cryptocurrencies have value, and they, as per their developer rules and guidelines, can’t host anything that has real-world value on their platform
Epic announced being open to blockchain-based games after Steam bans them: Unlike its competitor, Valve, Epic announced being open to support cryptocurrency and blockchain-based assets. Epic mentioned that there could be some limitations while implementing NFTs but they are willing to work with early developers in the new field
Sotheby launched its NFT marketplace: Sothebuy, one of the world’s largest brokers of fine and decorative art, jewelry, and collectibles, recently launched a dedicated platform for NFT and announced a bi-yearly sale of digital assets
World’s first NFT gallery opens up in Prague: Emphasizing exploration and education, the gallery houses around 40 screens and features NFTs from local as well as international artists

The Future of NFTs- Promising or Uncertain?

In the last month, billions of dollars have been invested in NFTs. OpenSea alone saw more than $3 billion in transaction volume, which, by the way, is quite less compared to previous transaction volumesThis just shows how much money flows into NFTs. CrypToads received an investment worth $100 million, MekaVerse saw a transaction volume of $130 million. Cryptoslam, too, did more than $1 million in transactions. So there’s a lot of wealth creation happening in the NFT space.

Some people may find the whole NFT space irrational, but then a question to ask here is, why are the investors taking risks? Initially, we may think that investors are awe-struck looking at the market filled with such wealth and that is what’s driving this momentum. But it could also be a result of the noise that’s coming from thousands of buyers worldwide. While investing, many investors are likely to talk about future use cases and mainstream adoption, while citing the success of projects like Axie Infinity and Top Shot, that are packaged in a more user-user friendly way to reach the mainstream. The entire concept of driving a virtual economy with NFTs seems fascinating but even after billions of dollars of investments in this space, it is too early to draw conclusions. Even after the success of platforms like Axie Infinity, we’re still speculative about what the future holds for NFTs.

Blockchain, Blog, Financial Services

How Blockchain is Impacting the Finance Industry

March 17, 2021 [x]cube LABS

Table of contents

Industry Overview
Blockchain in Data Protection
Blockchain in Finance
Conclusion

Industry Overview

Centuries old, the finance industry has probably seen the most number of major shifts in strategy and positioning among all. This industry which monitors money and credits of the market has found its edge over centuries of transformation. With its new customised variety of products and services, the industry has moved more towards customer centricity. The big financial institutions in play are now more focussed on what customers need and require. They manage money for individuals and invest for them on other people or institutions. It comprises commercial and investment banks, insurance companies, hedge funds, credit-card companies, consumer finance firms, accounting agencies, and brokerage firms.

The first digitization of Financing products happened when William Porter developed “Trade Plus”, an electronic trading platform which is now known as the “E Trade”, a subsidiary of Morgan Stanley. After the introduction of Trade Plus, the finance industry has come a long way. They facilitate setting and operating of big and small companies by handling the financial strength of these firms because of which it has become one of the top grossing industries. The industry has also seen some dark periods, one of the latest one is the Black Monday (19 October, 1987) which happened when NYSE faced its biggest one day loss in history which is nearly 26% of its value as per Carrerizma.

Blockchain in Data Protection

Blockchain technology is bringing wonders to the data protection industry in recent years and is getting adopted by almost every data concentrated industry to play its part in data protection. The technology distributes its storage and data over a wide network chain and gives access to various owners which makes it hard to tamper. From Bitcoin to personal data, blockchain is spreading its wings either by public blockchains with public key or private blockchains for private institutions. It is considered as one of the most secure data protection technologies of all time. The industry is expected to reach $20 Billion by 2024 in industries such as healthcare, BFSI, sports & more as per Towards Data Science. It is making the firms more independent and helps in maintaining their competitive edge over the market. It offers encryption & validation, secures data storage and is unfeasible to attack.

Blockchain in Finance

The finance industry like any other industry is investing a hefty sum of money on R&D to get in front of the line of the technological revolution. Security breaches is one of them where these institutions are trying more to concentrate to make their data safe. This industry has always been the first mover to adopt any latest technology which can help with their operations. That where the blockchain technology comes in between which distributes the ledger accordingly to make it impenetrable. The technology has its own benefits over the industry such as faster transactions, minimized credit risk, eliminating collateral costs and enhanced transparency. It also decentralizes the data which spreads its ownership over the network and makes these owners aware once any data tempered. Each block of this data chain is protected by cryptography which are represented by their public address.

One of the real life examples with the application of blockchain technology is with the banking industry. Loan recoverability is one issue that is at the forefront for these institutions and blockchain here can make it trackable for them. Every transaction can be stored in the blocks from start to end with which banks can easily trace the diversion in the loaned funds. Another example is with the payments. Domestic payments have developed in recent years but international payments still take days to figure out and to make every movement recorded is a whole new job. That’s where blockchain comes in place and eliminates the hectic job by reducing the time and cost and makes it more efficient.

Conclusion

With a wide variety of use of blockchain technology, every industry whether its healthcare or entertainment industry are opting for this. For securing data sources, this technology is challenging the traditional approaches on every level. As it’s time to move forward with the digital revolution, this technology can help in maintaining the relationship between the technology and user data & privacy. It can help in tackling data management and can give more concentration on privacy. It reduces delays & conflicts in transaction and can provide the actual data in real time. About 77% of the Fintech firms are expected to adopt the blockchain technology as per Financial Express shows the future scalability of this technology. Blockchain can work as a bridge for traditional institutions with technological gaps they have from a new business model and can bring them all on one platform.

Artificial Intelligence, Blog, Digital Transformation & Innovation, Healthcare

Top 10 Benefits of Artificial Intelligence in the Healthcare Industry

February 26, 2021 [x]cube LABS

From what we have seen in 2020, it’s no wonder that healthcare is now one of the largest and fastest growing industries. Globally, the healthcare market was nearly worth $8,452 billion in 2018 and is expected to grow at a CAGR of 8.9% to a nearly $11,909 billion industry by 2022. The CAGR percentage has seen a major upward spike thanks to a worldwide pandemic and among other things, it has made the push for digital adoption in healthcare all the more urgent.

While emerging technologies were making their presence felt long before in 2020, last year’s seminal event initiated that major push that those on the fence and those waiting to see how things change for others, really needed. With many business leaders, the reluctance to digital transformation is rooted primarily in the following concerns:

Lack of clarity on how to initiate and go about it
Data security concerns
Apprehension about returns on investment
Lack of technical expertise

It’s understandable that the “digital transformation” concept often sounds outlandish. We know it’s important but it’s also so vast a subject that people are often overwhelmed with all the changes it could bring. For true digital transformation is a fundamental shift in the way an organisation functions. However, there’s always scope to start small, change one thing at a time, assess results and take things forward. One can look at a specific technology, think about the areas of operation which could benefit from its attributes and execute a small project to start with. Taking a series of byte-sized approaches such as this can simplify the process of deploying AI applications in healthcare to a large extent.

Speaking of selecting a technology, artificial intelligence is all the rage when it comes to the healthcare industry. So much so that it’s being referred to as the new nervous system of the healthcare industry. Artificial intelligence in healthcare is significantly changing and improving various key processes and the potential is even more diverse and amazing. From chatbots and computer aided detection (CAD) for diagnosis and analysis, to training, AI can help providers to understand ailments and better manage patient’s health. Owing to its versatility, the AI-powered healthcare market is slated to exceed $34 billion by 2025.

So let’s take a look at the various ways AI can lead the advancement in healthcare in the coming years.

Benefits of AI In Healthcare:

Accurate diagnosis: Incomplete medical records, inefficient sequencing, and a large number of cases can often lead to human errors. However, once reports are fed into a computer, advanced machine learning algorithms can arrive at the right diagnosis, eliminating mistakes and significantly improving the efficiency of medical facilities.
Accelerated drug development: the traditional ways of manufacturing drugs can often be prohibitively expensive and time consuming. This is a major hindrance especially when a pandemic is threatening the world and there’s an urgent need to speed things up. Typically, it costs about $2.6 billion for clinically trying drugs and only 10% of those drugs eventually make it to the market. In 2007, when scientists were researching the various functions of yeast, Adam, a robot, quickly went through billions of data points to determine 19 genes that makeup yeast and predicted 9 new and accurate hypotheses. Adam’s companion robot, Eve, conducting her own research, found out that triclosan, which is commonly found in toothpaste, can prove effective against malaria-based parasites.Such findings ensured the technology’s continued and growing influence in the field of medicine and resulted in faster drug production at fractions of the previous costs.
Enhanced patient experience: crowded healthcare facilities, mounting volume of reports, confusion around insurance and more, make for a chaotic experience on a daily basis. AI has emerged as a savior in such situations by rapidly scanning through data, getting reports ready and facilitating patients to know exactly where to go and whom to contact, on mobile devices. In the era of remote consulting, AI is the backbone of some of the most sophisticated digital solutions which not only enable connection and communication, but accurate updates on timings, report availability, appointment scheduling and a lot more.Check out this instance of how Pulsara was able to bring all essential communication related to healthcare within a single, intuitive platform by leveraging digital technology. The solution resulted in the company achieving commendable success and various innovation awards.
Data security: when it comes to healthcare, protecting sensitive patient data is of prime importance. Rapidly advancing AI algorithms help in encrypting personal information, clinical reports, diagnostic findings and more, preventing them from being hacked and securely storing them in the cloud for patients and professionals to access anywhere.
Robot-assisted surgery: complex and critical surgeries demand extreme care, precision and expertise. Using AI-enabled robots, the number of successful surgeries is soaring. The robots are equipped with cameras, mechanical arms and surgical instruments. They can be custom made to reach every space within the human body and provide a clear, magnified view of the surgical site that’s way better than what the human vision can offer. These surgeries lessen pain, take significantly less time and help patients recover faster.
Remote monitoring: Connected devices can save lives by leveraging real-time monitoring of events like heart attack, asthma attacks. Remote monitoring devices use IoT networks to connect and track activities in a human body. Data can be accessed via wearable devices or mobile applications and with the usage of AI, rapid decisions can be made. The wearable technology market is expected to reach $74 billion by 2026.
Streamlined training: AI allows healthcare providers to go through simulations based on a huge database of scenarios which assists trainees to make decisions and learn from previous responses to meet training needs.
Risk prediction: Using pattern recognition to identify patients’ risk for developing a certain disease. Machine learning in healthcare supports timely decisions and actions by providing valuable insights.
Smart health insurance: Insurance companies can leverage connected devices to capture health data for their underwriting and health claims and risk operations. It provides transparency between insurers and customers and eliminates fraudulent claims.
Location tracking and alerts: Smart medical devices enable real-time alerting, tracking, and monitoring, which permits hands-on treatments, better accuracy, quick intervention by doctors, and improves complete patient care delivery results. Wheelchairs, scales, nebulizers, pumps, or monitoring equipment, can be tracked with sensors, making it easier for staff to track.

Conclusion:

In spite of such major advancements already, AI adoption in healthcare is still in its formative years. Ongoing research keeps adding new capabilities to the technology which will result in bigger breakthroughs in the coming years across multiple industries. In the crucial healthcare segment which is seeing one of the most rapid transitions towards digital at the moment, AI and ML have a lot to contribute and facilities have the potential to significantly increase customer experience, create new digital lines of business and reach research targets faster, which will all go towards making the world better and safer for everyone. However, as discussed earlier, it could be tricky to figure out where to start and how to formulate the right transformation strategy, which is where digital native organisations such as [x]cube LABS comes in. Get in touch to talk about how your healthcare/medical devices enterprise can benefit from the adoption of AI and other new age technologies.

Blog, Technology

How to Secure WordPress Site Against Hacking Attempts: Quick Tips

February 22, 2021 [x]cube LABS

Table of contents

Introduction
Top reasons behind successful hacking attempts
WordPress Security Checklist
Conclusion

Introduction

The most popular content management system, WordPress, has 64 % of the CMS market share which is more than all other systems such as Drupal, Joomla, etc, combined. Over 75,000,000 websites use WordPress or we can say that almost 40.3% of the internet is powered by them. Known for their unparalleled impact on web standards, usability, and the internet at large, WordPress have spread like wildfire and are still growing. However, widespread reach and growth have also made WordPress sites susceptible to vulnerabilities. Statistics reveal that WordPress accounted for 90 percent of all hacked CMS sites in 2018! This article talks about how as a WordPress user, you could secure your site against hacking attempts.

Top reasons behind successful hacking attempts

Before we get into tips for securing our WordPress site, let’s have a look at statistics that reveal the weak spots which hackers targeted.

41% are attributed to vulnerability in the hosting platform
29% came through vulnerable WordPress themes
22% took advantage of security issues of the WordPress plugins
8% happened through a weak login information

WordPress Security Checklist

Our technical experts recommend some of the best practices that are proven to secure a site from the above-mentioned threats.

Strengthen Your Computer Security

Presence of a virus and malware scanner on your computer that scans frequently must be a non-negotiable. Install a reliable firewall- possibly that one that was delivered with your OS.
Modify the WordPress Table Prefix

All the tables in the WordPress database of a standard installation, start with the prefix naming convention wp_. This vulnerability can be fixed by changing it into something arbitrary such as 8uh7dsgakm_.
Reliable and High-Rated Themes and Plugins

While choosing plugins and themes, go for the ones that have a high rating and appear reliable. Also watch out for when they were updated last. If there’s no update since long, chances are that it’s more vulnerable due to unpatched security loopholes.
Protect Important Files from Access

.htaccess is an important server configuration that holds the code which enables using pretty permalinks in WordPress. It can also set redirects and increase WordPress security.

For increasing security, you first need to access the file, which is located on your server’s root directory and hidden by default. Therefore, in order to edit it, make sure to set your FTP client to display hidden files (Go to Server > Select Force showing hidden files in FileZilla). After that, take the following measures.

Use the code below to prevent access to critical files like wp-config.php, php.ini, error logs and .htaccess itself.

<FilesMatch “^.*(error_log|wp-config\.php|php.ini|\.[hH][tT][aApP].*)$”>

Order deny,allow

Deny from all

</FilesMatch>
Keep WordPress and Its Components Updated

Keep WordPress versions and plugins up to date. Updated versions of WordPress don’t just bring new features but they also fix security holes identified in earlier versions.
Use Strong Login Credentials

A very common way to protect your WordPress account is using safe and strong login information instead of default username. Make your password as strong as possible.
Change the Login Error Alerts

If someone tries to log into your site with wrong credentials, WordPress will alert them whether the problem is with the username or password. This gives away half of the information, making it easier to hack into an account.
Enable Two-factor Authentication

Two-factor authentication serves an extra step for people to log into your site. An example can be the need to enter a validation code delivered to the mobile phone. Though it might add to efforts, it helps to block automatic attacks.
Change the wordpress login URL

Another way to keep the WordPress login page safe is to hide it. You usually reach the login page via yourdomain.com/wp-admin or yourdomain.com/wp-login.php. Move it to a different URL address instead of wp-admin.
Disable XML-RPC

This acronym is the name of a feature that allows connecting to WordPress remotely. For example, blogging clients use it and it’s also used for trackbacks and pingbacks. Unfortunately, it’s also sometimes the target of hackers, which is why you should protect it with a plugin Disable XML-RPC Pingback.
Automatically Keep Your Site Up to Date

Automatic updates should be enabled to keep the site up to date.
Add Security Keys

WordPress security keys(SALTs), encrypt information stored in browser cookies. This way, they protect passwords and other sensitive information. These keys are phrases that are used to randomize this information and stored inside wp-config.php
Disable the Theme and Plugin Editor

WordPress contains an internal editor for theme and plugin files that allows you to make changes to your site. Even though it can be useful in some situations, it also comes with a risk. The reason is that if somebody gains access to your site’s back end, they can use the editor to take out your website without even accessing your server.
Disable PHP Error Reporting

When plugins or themes cause any error on your site, WordPress displays a message on your front end. This message may contain the path to the file that is causing the problem. Hackers can use this information to better understand the layout of your server and attack your site.
Restrict Admin Access to Specific IP Address

By making changes in .htaccess you can restrict access to your WordPress login page to limited IP addresses. This way, only you can access it.
Lock Out Specific IP Addresses

A similar technique is available to block IP addresses that try to break into your website. If you notice such incidents (from your server logs, for example), you can lock them out of your site by configuring the .htaccess file.
Pay Attention to File Permissions

The following file permissions should be paid attention to in the WordPress site
- 755 or 750 for directories
- 644 or 640 for files
- 600 for wp-config.php

Conclusion

If you are concerned about securing your website against hackers, the tips mentioned in this article are a step in the right direction. Apart from following important security measures mentioned above, to best protect yourself from attacks, it is also very important to keep your website up-to-date and to keep abreast of the latest WordPress related vulnerabilities.

Blog, Customer Experience, Digital Strategy

Transforming CX: 10 Things to Avoid while Offering Personalized Experience

February 17, 2021 [x]cube LABS

Table of contents

Data managed right- what next? Personalization.
Top 10 mistakes to avoid in personalization strategy
Levelling-up with caution

Data managed right- what next? Personalization.

We’re now in an age where more than two-thirds of companies compete primarily on the basis of customer experience. It’s not just about competitive advantage anymore. Companies that excel at CX drive nearly three times more revenue than companies with poor CX. No wonder, more and more businesses have made CX the focal point of their business strategy, especially in 2020 as the word moved to digital and customers explored more ways of engaging with brands. Speaking of CX, businesses that didn’t have a strategy before were compelled to have one and the ones that already had it in place shifted their focus to improving and scaling it further.

In our previous articles, we talked about how you can benefit from the importance of getting the omnichannel strategy right, considering that many businesses often deviate from expected goals due to lack of a strong foundation to base it upon. In another article, we talked about how bad data can be an impediment to your CX goals and how you can leverage clean data to deliver maximum value. This brings us to the next post in our Transforming CX series where we talk about personalization. Personalization is something every business is in pursuit of.

Top 10 mistakes to avoid in personalization strategy

While it can get overwhelming as you tread upon your personalization strategy and roadmap, keeping a few points in mind will help you avoid costly mistakes. This article will make it easy for you to keep track of them as we talk about 10 of the most important ones. Avoiding these will ensure that the fundamentals of your personalization strategy are strong and error-free.

Inconsistent and broken omnichannel experience

As we discussed earlier, omnichannel is not the same as multichannel. Despite basic personalization elements in place, you can put your customers off if their interaction with your brand is inconsistent and broken. No matter which channel they contact you from, they should get the experience that makes them believe you really know them and the conversation is being picked up from where it was left off earlier. On the reverse side, nothing beats a seamless omnichannel experience. Let’s take an example of Starbucks here. Their mobile app seamlessly blends in-store and online ordering experience. You also get personalized recommendations based on the location and season and can pay in the store through your app to earn reward points.

Speaking of omnichannel experience, we also have our in-house omnichannel, customer engagement and gaming platform, Upshot.ai, that helps enterprises influence their customer behavior and drive sustainable business outcomes. Find out how can achieve great results by leveraging upshot’s capabilities.
Data mismanagement

Data is the key to crafting a personalized experience but the lack of clean, informative data and inability to extract useful insights is likely to topple your efforts. Many times the data is collected without any intent. This leads to irrelevant data piling up, without any productive results. Also, the inability to manage data can impede your ability to offer good customer experiences- be it in terms of lags in fetching response handling or context mismatch. Using data effectively can open up a stream of possibilities for your business and enable you to earn more revenue, too. Amazon, for example, collects information such as customer’s shopping patterns, prices on other websites, the demand for a product, items in the cart and more. This enables them to fine-tune their dynamic pricing algorithm as well as show better recommendations.
Lack of context and relevance

No personalization would be better than failed personalization. In an attempt to “fit-in” companies often overdo personalization and lose context as well as relevance. For example, offers for two for someone who has a history of ordering food for a single person only, sending offers related to leather jackets and shoes to someone who has a history of purchasing vegan apparel, or showing recommendation of new phones to someone who recently purchased one. The context here goes beyond what they have recently searched for and related recommendations. It expands to parameters such as their location, preferred channel, time of day, previous brand interactions, reasons for purchase and more. Establishing relevance and context can be learned from the partnership between Taco Bell and the navigation app Waze. Whenever a Waze user is near Taco Bell, they get an ad for the restaurant in the app, mentioning the time and location where they can dine-in. Similarly, Tesla, while promoting their automobiles, talk to their consumers about living a fossil-fuel-free lifestyle, thereby establishing great context.
Absence of real-time offers

We are now moving to hyper-personalization where historic data may not suffice to deliver an exceptional customer experience. Both historical and real-time data are required now. Having the right data at the right time along with the right tools and the technology, of course, will enable you to deliver personalized content, offerings, and overall experience in real-time. Travel portals often show a pop-up message alerting customers about the potential rise in airfares, nudging them to book instantly whenever they sense that customer may leave without booking.
Limiting to addressing customers by their names

As CX competition advanced globally, the expectations of customers changed. Mentioning their names in email subjects and notifications have become a thing of the past, way past. As of today, customers expect brands to not just know them but hear and understand them- and accordingly show them what they’d like to see. That is what keeps them more engaged and prompts them to explore what your brand has to offer. This is again where we want to emphasize value centricity. A customer, on a subliminal level, would start trusting your brand with their time and your emails won’t go unread or your notifications won’t be just cleared from the notification bar. Netflix takes personalization to the next level when they announced that they have a strategy focused on artwork that subscribers see when they explore catalog since thumbnails constitute about 82% of a subscriber’s focus while browsing. This makes the subscribers confident about the recommendations they receive as they perceive that the brand really “understands” them.
Lack of persona insights

While personalization is mostly understood to be something of an individual level, and fairly so, there’s a lot more to it. You must categorize different personas and see what appeals more to them. For example, you may classify your target group based on different strata such as socio-economic A, B and C. A study indicated that high-income groups don’t want personalized offers for themselves as much as they want them for people associated with them- also called CUG (close user group) extension. A person working in a senior position in a company may need recommendations and custom medical insurance offers for their family members and not for themselves.
Device and platform preference

Your customer platform preference needs to be taken into consideration to offer a better experience. Identify what content would have a better viewing experience on which device. Which platform would they be more active on? You’d like to consider their device before giving them, say, a 3D view of the product catalog, for instance. Similarly, if they are more likely to connect with you through your app instead of the website, you may want to consider something like “app-only offers”.
Cognitive load

Your personalization must be easy for your customers to absorb. Do they have to follow multiple links to avail an offer? Does it involve too much reading of terms and conditions? How easy or difficult is it for them to understand the value proposition from the headline itself? Similarly, you do not want to put them off by creating a complicated experience where you make them provide too many details about themselves without understanding where it’s going. Complicated sign-up forms, difficult navigation, prominent features not easily accessible, etc are some of the factors that contribute to cognitive load.
Lack of intuitiveness

From onboarding to becoming a loyal user, the entire journey must be intuitive and seamless. A big no here is trying to collect too much information explicitly along the touchpoints without the customers having a clue why that’s relevant. The intuitiveness should come from the very first interaction they have with your brand. Before you dive deeper into offering personalized experiences to them, begin with a standard algorithm that identifies them based on segmentation or where they’re coming from, what they search for and gradually develop it along the way. This is again where real-time behavioral data comes into the picture.
Poor performance

A very important aspect here that contributes to the overall CX experience is performance. Before collecting data and running complex algorithms, evaluate your data handling capabilities. Often, things such as slow response times, crashes and more would cause a user to abandon your product or service before you even get a chance to craft personal experiences. An example would be too much time taken by queries in fetching information from the database that results in high screen-load time and subsequent navigation. Additionally, too many crashes, high data consumption, screen freeze, battery consumption are some factors one should be looking at to improve performance.

Levelling-up with caution

We are now at that point in the digital era where to say that CX is important for businesses and emphasizing it would sound absolutely ludicrous. It is now expected that almost all businesses in some way have adopted CX strategy and paid attention to the element of personalization. What we are looking at right now is how to make it effective, competitive and profitable. With exciting ideas and innovative strategies available to implement, overwhelming decisions can be made. Therefore, the path must be navigated with caution. You must lay the foundation well and level-up after careful deliberation around your customer behavior, the market and your existing capabilities. As you scale up your personalization efforts, you’ll encounter ditches that you must avoid and that can happen only if you pay equal weightage to the things you must avoid as you do to things you must include in your strategy.

At [x]cube, we have helped global enterprises drive results with our robust CX strategies. From customer retention, lower cost of acquisition, faster conversions to improving brand perception, we leveraged a mix of technologies to enable enterprises to achieve it all. If you’re someone who is looking to achieve results by adopting, improvising or scaling CX strategy, you’re at the right place. Get in touch with us for everything CX!

Blog, Internet of Things

Playing Safe! Crafting Secure Experiences for Kids with IoT-enabled Smart Toys

February 9, 2021 [x]cube LABS

The internet of things (IoT) is one of the most sought-after technologies in the world today. Considering the fact that companies all around are increasingly looking to adopt digital solutions to stay relevant and provide superior customer experiences, a technology that makes their products “smarter”, by learning from users, analysing data to generate actionable insights and providing newer ways for manufacturers to reach out to their customers, will be a big deal. A great customer experience is a major differentiator between brands that command great loyalty and those that fizzle out. Therefore, products these days should not just serve a specific purpose but also have the capability to learn, evolve and provide more value to become integral parts of their users’ daily routines, making themselves indispensable.

There’s been major progress in consumer IoT over the past few years. From 22 billion devices in 2018, we are looking at almost 39 billion in 2025. By the end of 2019, spending on smart home systems in the US was around 103 billion dollars, with a projected spending of 157 billion US dollars by 2023. A majority of these IoT solutions include lighting systems, voice assistants, smart speakers and more. Additionally, a segment that’s also riding on the enterprise IoT wave to produce increasingly innovative products is toys.

Smart toys do not sound as common as smart lights or smart televisions, but make no mistake, they are here and they are growing. The market is expected to register a CAGR of 28% over the next 5 years. Considering the rise in work from home where lessons have moved from schools to living rooms, smart toys have emerged as engaging means for children to learn. Some popular smart toys include:

Talking toys such as Dino by CogniToys which uses the internet and IBM Watson’s natural language processing technology to respond to children based on their age, interest and skills.
SmartGurlz companions which can be controlled by mobile devices and teach a number of skills to kids such as coding
Monitoring toys which help parents keep an eye on their kids while the kids remain engaged
Smart toy bear by Fisher-Price which learns from the child’s behavior to provide personalised experiences and stays connected to mobile app to keep parents informed of child progress and activity

Generally, they differ from traditional toys in two major ways. They learn from the way children interact with them and communicate accordingly, thus staying relevant for long and becoming more of a companion than something that would only hold a child’s fancy for a brief period and secondly, they help parents train as well as monitor their children. Owing to their enhanced appeal, research is on as to how IoT can help improve them further and help parents and kids do more. However, a major concern has also gripped this development and that’s something common to all smart devices. A concern that still keeps a bunch of business leaders on the fence when it comes to IoT adoption in spite of them being aware of its obvious benefits.

That concern is cybersecurity, and in case of toys, since it’s kids we are talking about, the risks are even greater.

We began the article with how important it is for brands to craft great customer experiences and how data garnered from users help companies know their customers better and devise tailored experiences. Well, with data being so vital, gathering it also comes with the risk of it getting stolen. Which is why, along with the race for adopting new technologies, organisations are also looking to strengthen cybersecurity. So if you are a business leader at a IoT development company looking to get into the creative and burgeoning segment of smart toys, here’s how your product could pose significant risks:

Connecting to unsecured networks: always have a warning mechanism in your internet of things solutions, so that if someone attempts to connect the toy with open networks through which hackers can gain easy access to sensitive information, the controllers would be advised against it
Sharing data with third parties: ensure that you do not share the customer data gathered from smart toys with external agencies. Greater dissemination also entails greater risk of leaks
Location tracking: some toys track and transmit their locations and anyone looking to break in can get the location of children playing with them. If the toy must track location, ensure the data is encrypted so it doesn’t get easily deciphered and misused. Try to avoid collecting location information altogether. In fact, ensure all data that’s being transmitted to your servers are encrypted with top-notch protocols
Data stored in cloud: avoid storing any data in cloud to avoid unforeseen incidents of it getting compromised. Use edge computing mechanisms for quick data analysis and remove them once the required insights have been received and recorded

Similar to many traditional electronic goods, there are many ways toys stand to benefit from IoT innovation. However, just as the benefits, the risks are real, though not unsurmountable. When IoT is integrated into a product, it should not be just an add-on, but at the core around which the entire product needs to be reimagined, for getting the maximum value. At every stage of the development plan, features and security need to go hand in hand, for the end result to be truly exciting, as well as safe. Once released, plan on supporting the product with regular updates through which the latest security measures would be provided so it remains relevant and protected against attacks for a long time. Have questions or problems you need to solve around IoT or looking for next 5 years? Get in touch and we would love to have a chat.

Blog, Customer Experience

Transforming CX: Leveraging Data to Deliver Maximum Value

February 3, 2021 [x]cube LABS

Table of contents

Data at the core of superior Customer Experience
2020 accelerated digital transformation and focus on CX but “clean data” remains a challenge
Don’t let bad data topple your CX goals
What’s the fix?
How can clean data be leveraged to deliver new-age CX?
Conclusion

Data at the core of superior Customer Experience

Data is foundational to CX and creating a seamless, friction-free customer journey. In a survey conducted by Deloitte, 49 percent of respondents said data analytics helps them in better decision making, 16 percent said that it enables key strategic initiatives, and 10 percent say it helps them improve relationships with customers and business partners. How, you may ask. Data helps businesses to identify potential customers and reach them across every platform and channel. Effective data analysis empowers businesses to get valuable insights into every customer interaction along the journey. Meaningful data helps brands strengthen their omnichannel experience delivery which in turn helps customers feel heard and understood.

Insights from extensive datasets also helps brands navigate risks such as placements of unsafe or inappropriate content based on geographical context. Above all, the most significant benefit is a unified customer profile that contains all the information related to customer transactions, behavior and more. This way, a brand gets to truly know their customers whenever they’re interacting with them. Results? Customer retention, engagement, revenue growth, increased profitability and higher customer lifetime values.

2020 accelerated digital transformation and focus on CX but “clean data” remains a challenge

As we witnessed the largest transformation in almost every industry, we realized that capabilities that were just in the works until a year ago, were developed and deployed quickly. To meet emerging customer needs and keep business afloat, new digital capabilities developed overnight. But one thing that didn’t catch the attention of many businesses was data-more precisely, clean data. Digital capabilities were in place, CX became a hot topic, but dirty, unstructured, disconnected and irrelevant data became a challenge. This reason made it challenging for many businesses to realize their digital capabilities to full potential and deliver the CX they had hoped.

Don’t let bad data topple your CX goals

Imagine an unsynchronized CRM that relies on past data entries. Now if a customer calls up to check the status of, say, their credit card application, and the CRM shows different entries from different moderators, which one would you use to tell the customer the latest and most accurate information? In another instance, imagine if a customer shipment is in Dallas but the customer service shows that it’s still in Houston.

Data may not be the easiest part to work with, but it is definitely a critical component of any digital transformation initiative and even more important from a CX perspective. Businesses might be launching new CX initiatives but they won’t be fruitful in the long run if the data in isn’t clean.

What’s the fix?

Disconnected and dirty data doesn’t show itself through net promoter score surveys. Your customers won’t explicitly tell you that data is the reason behind their negative experience either. The first step isn’t to get into data clean-up or create cross-system connections or even establish usage standards. The first step is to understand and highlight the limitations of current data and then see what actions are needed. Businesses also need to understand that data collection and management is a company-wide initiative. Every department collects specific pieces of data about the customer which later help in giving them an overall experience at every touchpoint.

Here are some ways in which you can maintain clean and up-to-date data:

Data integrity must be part of the company culture since it spans across all departments
If your current data is all over the place, start by consolidating it into one organized centralized space such as a spreadsheet before you start importing it
Maintain data uniformity by setting standard input guidelines
Identify and remove duplicate records
Regularly review and clean your data

How can clean data be leveraged to deliver new-age CX?

CX was already projected to be a brand differentiator, surpassing price and product. In fact, more than two-thirds of companies now compete primarily on the basis of customer experience – up from only 36% in 2010! But with dynamically changing customer needs, behavior and expectations, even CX excellence has become an arena of competition in itself.

At [x]cube LABS, we helped one of our clients, Dr. LalPathLabs, solve the customer problem of having to wait for the reports by leveraging machine learning to predict the estimated time of Report, including the estimated time of various phases of the lab testing and exceptional delays. Like any other learning model, this one was dependent on the availability of clean data, too. The prediction was dependent on multiple parameters that were closely interconnected and influenced each other in more than one way, implying the need for relevant and standardized data as input.

We also enabled Mann+Hummel to improve their filtering solutions with smart capabilities which gathered information on customer experience and based on that, added features which removed a bunch of manual tasks the customer had to perform. Reiterating, we used data to eliminate customer pain points as far as possible.

This is just one of innumerable examples of how we leveraged the power of data, coupled with emerging technologies, to drive CX transformation. We also have our in-house customer analytics and engagement platform, Upshot, that combines actionable analytics, campaign management and powerful tools to shape user behavior. The platform delivers new insights into user segments and enables fine control over the user’s in-app experience.

In current times, it is critical to get an all-round view of your customer behavior to design great experiences for them and clean data is what enables it. Once you have a good hold on the quality of your data, you can explore the potential of CX in different ways.

Real-time CX

As businesses utilize more and more data to understand their customers better, it’s about time that real-time CX becomes the new in-thing. Customers today have a strong desire for instant gratification, which means increased expectations not only of the product but also the overall experience provided associated with it. This is where real-time CX comes into the picture. It’s about serving customers at the very moment they engage with your business. This can include any activities that meet the needs of a prospect or customer as immediately as possible. A very common example of real-time CX is offering customers a support channel like live chat that allows for a nearly instantaneous response.
Consistent customer journey experience

A study found that 45 percent of CX leaders define CX as “the customer’s aggregate perception of your company based on all their interactions with your brand, product or service.” In simple words, this implies experience throughout the customer journey from initial interest and purchase to customer service and every touchpoint in between. 65 percent of consumers say that a consistently positive experience through their entire interaction would make them a long-term customer of the brand. And this can be achieved only if there’s relevant and up-to-date information about consumer preferences is available. You can teach each touch point, gather necessary information, analyze the data and provide them contextual and personalized experience.
Integrated and streamlines CX approach

According to a report, one out of four CX executives say not having the right people involved is a constraint that prevents their team from implementing a streamlined CX approach. In order to succeed in CX strategy, businesses should look at CX as an essential part of the whole business, not just a part of it. To excel at delivering seamless experiences, understanding and drawing insights from individual-level customer data is a must. This essentially requires reimagining processes and taking a data-driven approach to break down silos across the organization.
Customer data platforms

Customer touchpoints are spreadout across multiple systems such as CRM, social media and more. To securely unify all the data and eliminate redundant records, a customer data platform can help. The data managed this way can be used to decide what will encourage customers to stay loyal and even assess the potential LTV of a customer. Going one step ahead, clean data can also be fed to AI models for predictive analysis that can compare usage patterns of new customers with longer tenured ones can help project the ones which are more valuable..
Hyper personalization

Hyper-personalization takes personalized marketing a step further by leveraging artificial intelligence (AI) and real-time data to deliver more relevant content, product, and service information to users. While personalized experiences are mostly confined to addressing the customer by name and keeping track of preferences, hyper-personalization takes it to a much higher level. It deciphers and acts upon customer data in real-time. Some features of hyper personalization include: instant identification, immediate access to information about every interaction, on every channel, understanding customer issues and knowing how to solve it, based on the captured data. But transitioning to a hyper-personalized model requires infrastructure with new technology that captures customer data in real-time, across all channels, in a unified way.

Conclusion

56% of the companies now turn to data that captures the interactions of their most engaged customers to nurture their experiences. In fact, the most successful companies differentiate themselves from their competitors by creating a cycle of data-driven improvement and capitalizing on it to deliver new-age experiences to their customers. This requires having the right tech stack as a minimum investment that directly enables the data capabilities and applicable skill sets. But before implementing that, taking control of data should be at the forefront of the customer experience strategy.

Blog, Technology

Battle of Big Tech: Everything About Apple and Facebook’s Fight Over Privacy and Data Tracking

January 29, 2021 [x]cube LABS

The debate on how “private” our online activities are is probably going to take center stage in 2021 and beyond. With increasing exposure to emerging technology, dependence on various ecosystems which keep our contacts, messages, search histories and more in sync, this topic has been gaining prominence for a while, but at the end of last year, the very public tussle between two of the biggest corporations in the world, namely Apple and Facebook, has kicked things into high gear. With both companies trying to justify their actions with elaborate marketing messages and in-your-face ads, the consumers have begun to educate themselves further on how deeply companies pry into personal lives and how bad could things become in the event of a data breach.

Adding to the mix is the 2020 docu-drama “The Social Dilemma” which aptly summarized the prevailing mantra of online platforms as “if you’re not paying for the product, then you are the product”. Over the years, platforms such as Facebook, WhatsApp, Twitter and ecosystems built by Apple and Google have become such integral parts of our lives that these companies probably know more about our lives than they have any right to. As more companies look to upsell and cross-sell new products and services through the first product that we pick up from them, we will be unwittingly giving away more of our information by allowing companies to track a variety of online activities that we indulge in. Using that information, companies will then try to sell us more of their products or those of their affiliates.

End of last year saw a war break out between a company which presumably has the highest regard for user privacy and another which again, presumably, has the least concern for the same. Apple, the former, revealed that with an upcoming update to their iOS 14, they will ask companies which track user activity through the web, ask for permission before doing so. Facebook, the latter, was incensed and came out all guns blazing against a move, which in their opinion, would crush small businesses worldwide that depend upon targeted ads to reach specific groups of users who’d be interested in buying from them.

The latest row has been brewing for a while though, almost a decade, if we do some digging. Apple’s philosophy has always been that the internet is an extension of the personal computing space, with the smartphone being the most personal device of all. As for Facebook, it has increasingly ventured into enabling consumers to launch digital commerce ventures by taking advantage of the vast amount of data it has at its disposal. The recent launch of Facebook marketplace has further established this intent. The cost of using their free service, as per Facebook, is access to browsing data which can then be leveraged for ads. Till date, most of Facebook’s millions of users had no clue exactly what they are allowing the company to do, and with controls to disable tracking buried deep into privacy settings, monitoring was difficult for everyone except the informed few. However, with Apple making it simple by popping up a single message which would turn tracking completely off, it was time for Facebook to be worried.

The battle has now amped up to the extent that it might be brought to court very soon. Both companies held press conferences this week to talk about their respective quarterly performances and apart from the financials, both Tim Cook and Mark Zuckerberg mentioned the burning issue at hand. The Facebook CEO was dismissive of Apple’s criticism saying it’s not coming from a virtuous angle, but from the perspective of protecting Apple’s interests. After targeting Apple with full-page newspaper ads in December, Facebook is now reportedly preparing a lawsuit that will accuse Apple of using its market position to damage parties like Facebook and others who are presented as the saviours of small businesses.

For Apple, this isn’t new. For a company that just had its best quarter ever even in the middle of a pandemic, the command it has over the market and the influence that power can exert is undeniable. Just a few months back, we witnessed the Apple vs Epic Games dispute where the latter tried to bypass Apple’s in-app purchase mechanism in its game, Fortnite. The result wasn’t very favorable for Epic in the end and if prevailing opinion is anything to go by, Facebook doesn’t find itself in a favorable position either.

Tim Cook, in his disclosure yesterday, made it very clear that Facebook’s protests aren’t going to sway Apple’s opinions at all and the tech giant will be very much moving forward with the update to its operating systems which will make users aware of data tracking by apps and ask for their permission.

“At a moment of rampant disinformation and conspiracy theories juiced by algorithms,” Cook said, “we can no longer turn a blind eye to a theory of technology that says all engagement is good engagement — the longer the better — and all with the goal of collecting as much data as possible.” Apple also released an infographic detailing how data is tracked and used by various companies and what’s their take on it. Clearly taking the context of the ongoing dialogue surrounding data privacy to present their case.

Sensing the increasing awareness among the general public about this issue, Facebook knows their stance won’t be that popular. The company has already expressed apprehension about less number of users giving them access to data and the resultant obstacles it will have to face in the business of targeted ads. However, they will go ahead with the lawsuit to keep the growing number of businesses using their platform happy and leverage their own considerable influence to work out a few favorable terms if not achieve complete victory. Helping their cause would be the fact that in the wake of COVID-19, more retailers would bring their businesses online and depend on Facebook’s huge user base to reach potential customers. Facebook would definitely argue that it is taking a leading role in helping people affected by the pandemic to turn things around and it’s insensitive of Apple to throw a spanner in those efforts with their obsession with privacy.

This battle will be in the works for a while and we will stay tuned to see how it plays out. If Facebook decides to indeed sue Apple and attempt to prevent the iOS update from hitting consumer devices, we could be looking at a lengthy battle in the days to come. While digital adoption is the way to go for businesses to become more efficient, cost-effective and customer friendly, the world is waking up to how much of their personal information big tech companies actually have and the sway it gives them as a result. Discussions are raging on the possibilities of companies holding national governments ransom, influencing decisions and increasingly commodifying their customers. While walking the thin line between keeping business interests intact and avoiding alienating users, companies have to be extremely wary of missteps and the winner of this battle between Apple and Facebook will give them an idea about which side of the line they need to lean towards in formulating policies for the new decade.

Blog, Customer Experience, Design

Top 10 Digital Product Design Elements Behind Great Customer Experiences

January 22, 2021 [x]cube LABS

In the last 10 years we have already seen many improvements and designs to provide greater customer experience specially when the customers interact with the companies and their brands in the digital world.

A research report by Gartner provides insights to customer needs:

76% of customers expect companies to understand their needs
$1.6 trillion is lost each year due to poor customer service
Customers will spend 17% more for a good experience
Customer-centric companies are 60% more profitable

In the era of cutting edge technology, innovations are reaching new heights, companies need to focus on providing progessive designs to interact with their brands online.

There are top 10 design trends that will decide who wins the customers by providing an exceptional experience:

Graphic interface with gestures:

By introducing gesture recognition, the focus is to eliminate UI interaction with buttons. Many companies are testing this feature and it’s in its early stage.

For example an ecommerce company providing an app where customers don’t have to use buttons to purchase or place and order, a simple drag and drop gesture could add the product to the cart.
Zero (Interface) UI:

The idea of zero UI was first introduced by Any Goodman, former Fjord director. Zero UI is all about sensory experience (gestures, movements, voice, and even thoughts and feelings) to cause a particular response from a device. Smart Artificial Intelligence devices and machine learning are two important parts of zero UI functionality. Its potential can be most beneficial for differently abled people and people with mobility issues.

There are few experiences that support Zero UI concept-

Microsoft Kinect– which allows us to change channels with just a greeting.

Nest thermostats– which learn to anticipate what we want based on our interactions.

The voice assistants of Amazon, Google and apps that replace our touch interactions with devices
Agnostic Interface:

According to a Google’s recent study, “90% users use several screens sequentially to perform a task over time”.

We live in a multi-device environment where multiple applications are accessed on different devices such as wearables, tablets, smartphones, voice devices, televisions or computers etc.Users interact with these devices with different touchpoints and the design and interface become a complex part for the companies to develop.

For example the consumer was using a browser to access a service on a computer then companies came up with “responsive designs” to give the same on the mobile phone, now came up with “progressive web apps.”

But with the growth of technologies like Artificial Reality, Virtual Reality and Mixed Reality where designs and interface will be in huge demand in the future.

Companies should conceptualize an agnostic interface as it can reduce latency as use moves across all devices.

Nest Learning Thermostat is a most relatable example of agnostic interface.
Natural Language Processing:

According to a global estimation, more than 200 million homes now have a smart speaker and are interacting with a voice assistant such as Google, Alexa, Cortana or Siri.

As per Google 72% of these users claim that they use it in their day to day lives.

52% of people keep their voice-activated speakers in their living rooms, 25% keep them in their bedrooms, while 22% keep them in their kitchens.

We are witnessing a voice assistance revolution where homes, vehicles, phones etc are equipped with voice assistants.

Advances in Artificial Intelligence will allow the tasks that are facilitated from these devices to become more sophisticated with cross-tasks such as sending an email with attachments, opening several applications or executing different actions.
Augmented Reality/Virtual Reality:

There is a lot of buzz around the world for AR and VR. It’s being used in almost every field be it, ecommerce, retail, gaming, medicine or drug R&D.

With the 5G, AR and VR can be utilized with full potential. It’s estimated that the market of AR/VR will grow more and sales are expected to rise to 65.9 million for late 2022.

Pokemon go, a free Augmented Reality video game, achieved more than 100 million downloads in its first month of launch.

Disease simulation in drug discovery & assembly of machine parts to eliminate errors by using Virtual Reality.

Asian Paint implemented Virtual Reality for their internal operations.
Personalized Customer Experience:

Personalized experience is not a new thing, we have seen companies doing it to get customers attention and make them feel like priority customers.

Companies like Sephora, Netflix, Amazon, Starbucks, The Home Depot, Airbnb etc have created such an environment where customers expect more from the brand during digital interactions.

Personalized customer experience is a deep field where companies study customer needs, preferences, behaviors, choices, demography and socio-economic information.

Some basic personalized experiences- a bot interaction where it uses your name, emails where you get exclusive deal code/offers, messages from brands to visit their platform soon (based on your last purchased date) etc.

There is a lot that can be done, companies gather data from various sources and many departments are involved, they can start off by creating a single source of customer data and bring all the departments together to create a unified personal experience journey for their customers.
User Research:

There are various sources of customer data and one should understand that data is a crucial part in creating an exceptional user experience. Good data insights derive customer needs, choices and preferences.

Companies use various techniques to target users, such as- usability tests, focus groups etc. It’s time when we need to see customers beyond qualitative research data.

Digitalization has given many ways to collect quantitative data one such way is IoT enabled devices. Qualitative research and quantitative data help us get better user insights and we make better decisions. But various sources of information bring complexity.

Machine learning and analytics are the future of user research where user patterns will be observed and predicted. Companies can create unique approaches to pull various departments together to nourish qualitative data with quantitative data.
Intelligent digital experience:

With the use of new technology in the consumer digital world, the focus is on the concept of intelligent experiences or interactions.

The word intelligence is a key to continuously improving the customer experience, it refers to the ability to learn from existing user interactions in order to optimize future experiences.

Customer journey can be improved in terms of personalization, efficiency and simplicity.

Smart experiences are characterized by:
1. Relevant experiences that connect with the motivations and interests of the users
2. Persuasive experiences that seek conversion: seduce, convince and sell.
3. Personal experiences that address the behavior and context of each individual person.
These are experiences that seek to satisfy users and customers but, above all, they aim to generate impact, growth and results.
Biometric Application:

Biometrics are physical or behavioral human characteristics that can be used to digitally identify a user to grant access to systems, devices or data.

Examples of biometrics-fingerprints, facial patterns, voice or typing cadence.

According to the Ping Identity Survey “92 percent of enterprises rank biometric authentication as very effective to secure identity data stored on premises, and 86 percent say it is effective for protecting data stored in a public cloud.

Spiceworks reports that 62% of companies are already using it.

Biometric application reduces time, and makes the authentication process easier.

Many banks have implemented biometric authentication on their mobile apps and ATMs.
Sustainability In Digitalization:

The world is dealing with rapid environmental changes and in the digital world also it becomes a priority concern.

The digital world reflects this concern with new content that communicates the sustainable policies of the companies and even changes how they do business.

There are many companies that work towards environmental sustainability and openly tell their customers to follow the same in order to save earth.

Companies can show how much energy their data centers use and how much carbon footprint they generate per year.

Also, they can show how they recycle and reuse the product to promote zero waste.

It’s a unique way to build a connection with users and it becomes an emotional touchpoint in the user journey.

Conclusion:

If you are reading this, which means you have paid attention to above discussed top design trends. It’s time for all the creators to consider the customer as a central idea during R&D and delivering new features to provide exceptional customer experience throughout the journey. To know more about crafting the right customer journeys for your customers, get in touch, and we’d love to have a chat.

Extended Reality Business Applications for Industries in 2022

Introduction to Extended Reality

Three Remarkable Components of Extended Reality(XR)

Augmented Reality(AR)

Virtual Reality(VR)

Mixed Reality(MR)

5 Powerful Real Time Business Applications

Healthcare

Retail

Gaming and Entertainment

Marketing

From a marketing point of view, let us understand what XR brings to the table?

Education & Training

Real time Examples

Walmart training with AR

Coca Cola AR

Ford’s

Jaguar Vehicle VR

Extended Reality Challenges

Conclusion

Role of Each Stakeholder in Creating an Effective Agritech Ecosystem

Government:

Agribusinesses:

Startups:

Growers:

Tech companies:

Research Institutions:

To get agritech right, thoughtful collaboration is key.

Introduction:

Industry Overview:

Top Digital Transformation Trends Impacting the Healthcare Industry:

Conclusion:

CISA’s Mobile Device Cybersecurity Checklist for Organizations

Security-focused device management

Strong Authentication

App Security

Network Communication

Device Protection

Protecting Enterprise Systems from Device

About CISA

Conclusion

Factors defining digital transformation in 2022

Deployment of more complex 5G millimeter waves on the way

Semiconductors to see more investments

Hybrid advancements to accommodate the mega shift in the future of work

More scrutiny and regulations for tech giants

Privacy first approach for the next wave of tech regulation

The synergy of hybrid and multi-cloud

Everything-as-a-Service

The Metaverse

NFTs

Elevated need for talent

2022- Another year of more technical advancements

AI-enabled automation/ Hyperautomation

Decision Intelligence (DI) on the rise

Smart city adoption

5G

Everything blockchain

Cryptocurrency

Generative AI

Technologies running Smart Devices

Cloud-Native Platforms (CNPs)

AR/VR powered “Virtual try on”

Conclusion

Virtual try-before-you-buy

Enhancing in-store experience

AR-Enabled Smart Navigation

Enhancing marketing capabilities

Product Customizations

Conclusion

Metaverse- what is it?

When did Facebook’s ambition to become a metaverse company start?

What is the possible reason behind this major shift from the earlier core vision?

Introducing Meta- the new social technology company

What are the implications of this rebranding?

Will others follow the trend?

Trouble for Facebook, again? Meta company sues Facebook for stealing its name

What does the future for Meta look like?

Top 7 technologies transforming the agriculture sector

Robotics and automation in agriculture for improved efficiency