In order to sustain continuous growth in the business sector, many organizations are striving to adapt to a new and different environment that is having essential collaboration and optimization. Many industries find blockchain technology a better option than any procedures existing in the current businesses for finishing key components of work. Bitcoin’s popularity helped demonstrate the application of blockchain in the finance sector, but this indirectly made the entrepreneurs realize that tech could bring immense changes in many more industries. Companies using blockchain to drive higher accuracy and transparency throughout the digital information platforms started building technological awareness in different sectors starting from infrastructure to public policy.
Here, in this article, let us try to discuss different industries transformed by blockchain.
Blockchain Industries
There are many industries where blockchain plays an important part in driving economic and infrastructure growth. Great ideas are not just enough to achieve success in blockchain. You must know how to use blockchain technology in your business to enable transformation. Let us discuss some of the major use cases of blockchain technology in different industries:
Banking
Banking processes are always time-consuming and expensive, and it doesn’t guarantee you 100 percent security as well. Blockchain makes a radical change and interrupts the commercial banking system by offering a smooth system for transactions at a lower cost and with greater security. It also puts an end to the requirement for a third party to initiate a transaction which in turn reduces the processing time to a greater extent. Though blockchain consists of a string of transactions linked in a specific order, the digital ledger can be shared across a computer network by all parties involved, without any centralized authority or intermediary. This gives you complete autonomy throughout your transaction. Since blockchain ledgers are digitized, safe, and secure, they can provide the same function, giving better information sharing and precision in the financial service environment.
Cybersecurity
In the current digital world, cyber-attacks are the biggest threat and blockchain can protect our data from unauthorized access and fraud. All information recorded on Bitcoin or any other blockchain network is verified and encrypted using a cryptographic algorithm that prevents widespread attacks through any single point of entry. Additionally, with blockchain, you can easily detect harmful data attacks caused as a result of peer-to-peer transactions in which the data can neither be altered nor manipulated. Furthermore, by avoiding a central authority while initiating transactions, blockchain offers a safe and transparent way to record transactions by not disclosing any personal information.
Healthcare
When it comes to data sharing, healthcare organizations face the inability to transfer data across multiple platforms securely. Securing the medical information of patients is more important than anything in healthcare, and in such cases, blockchain technology makes the most sense. In blockchain technology, Blocks are connected with each other and distributed throughout the blockchain nodes. Therefore, making it difficult for an infiltrator to corrupt the data. Collaboration of data should be efficient between providers in order to make precise diagnoses, less expensive care, and effective treatments. Using blockchain in the healthcare sector enables hospitals, pharmacies, and other healthcare-related chains to have shared access to the common network with no compromise on the safety and integrity of data. Another important concern in the healthcare sector is regarding fraudulent medicines, which can also be controlled by blockchain technology. The problem lies in differentiating counterfeit drugs from the real ones. This issue is resolved by blockchain technology using supply chain management protocols that can trace the origin of the drug.
Government
Public management service is another sector where blockchain helps to reduce paper-based processes, eliminate fraud, and boost accountability among officials and whoever they serve. Many governments have chosen blockchain technology in their administration to recognize the benefits of using it. One of the best examples is the use of blockchain by the Swedish Land Registry in registration to prevent fraud and reduce disputes regarding ownership. It also tested the use of smart contracts to sell any property.
Blockchain also plays an important role during voting. In conventional voting, people cast their votes one by one, standing in a line or via mail. This is counted by the voting authority. There is a provision of online voting also but all of these may result in fraud. Using blockchain technology, people can vote without disclosing their identity. With blockchain, officials who know that only a single vote can be attributed to each ID can count the votes with great accuracy. Fraud is not possible with blockchain technology because once a vote has been added to a ledger, there is no way to change or erase it.
Supply chain management
In most situations, supply chain data is invisible, unavailable, or unreliable. Blockchain enables distribution network partners to share reliable data through licensed blockchain solutions. This is very relevant, especially during times of trouble. Businesses and customers need brands to ensure the legitimacy of the product while participants in the distribution network ask for responsible sourcing and good visibility to reduce disputes. Blockchain for supply chain management enables leaders to use data to manage current barriers and build flexibility for the future.
Wrap Up
Blockchain technology has emerged for a couple of years, and industries are yet to explore many new methods to apply the technology to perform various operations. As the use of digital data in our lives has increased, the need for blockchain data security, access, transparency, and integrity has spiked to a greater level. Such applications of blockchain technology simply indicate the beginning and many businesses are awaiting the potential possibilities blockchain technology is about to bring to the world. However, most of the promised projects still lie in the initial stage of development, and it may take years for them to come into widespread use. It is clearly visible that blockchain technology is ready to work in the way we operate. Becoming an expert in blockchain now secures your future in the industry of your choice. Blockchain provides a general understanding of the basics, from the origins of blockchain technology to Bitcoin data structures.
Automation has become a transformative element in today’s business world, changing the way businesses operate. Robotic Process Automation is at the forefront of automation that is getting popular across various industries.
While many organizations have embraced this technology, there are still others who have yet to implement it in their field due to many concerns and confusion.
What is Robotic Process Automation?
Robotic Process Automation (RPA) is a technology in which software bots are used to automate monotonous tasks in a digital environment. Using RPA technology, bots are deployed to seamlessly perform manual and repetitive tasks such as filling out forms, data entry, calculations, etc.
In robotic process automation, the term ‘robotic’ denotes software bots executing tasks. Here, RPA learns a sequence of events and automates the business process with the least amount of human intervention.
RPA software
RPA software refers to software tools used for automation that develop, deploy and manage Robotic Process Automation solutions. These tools provide a platform to create and configure bots for automating business processes.
UiPath, RPA Genie, and Blue Prism are some of the popular RPA software available in the field.
What are RPA bots?
Automating repetitive and mundane tasks performed by humans is the main objective of RPA bots. The RPA bots can execute certain tasks independently as well as under the supervision of employees if it is rules-based.
RPA bots can automate processes, including
Create files and folders.
Setting up and removing apps
Glean data and information from optical character recognition.
Helps transfer data between multiple systems
Filing forms, typing messages, and more.
Types of RPA
RPA can be classified into three types: attended automation, unattended automation, and hybrid RPA.
Attended Automation
Attended automation is a type of RPA that requires human intervention. This sort of automation is done when users are in front of the system. This is used to automate smaller tasks at an individual level. In this scenario, when a human triggers or initiates a process, RPA will execute the tasks. This is mainly used for front-office tasks.
Unattended Automation
Unattended automation is a type of RPA that does not require human intervention. It is automatically triggered as soon as a computer or server is set up to run the automation process for the user. In effect, unattended automation can execute long and complex processes independently. This is used for tasks such as manual data entry, record maintenance, etc.
Hybrid RPA
Hybrid RPA is a combination of both attended and unattended automation. Here, automation tools and the human workforce work together on monotonous tasks. In some scenarios, creativity and decision-making skills will have to be used along with automation tools to bring out the best outcome. In this way, hybrid automation works by providing human input to automation tools. This is used for both front-end and back-end tasks.
How does Robotic Process Automation Work?
RPA Implementation
Process discovery is the initial stage in automating any task. This involves identifying and understanding the manual and repetitive tasks performed by workers in the organization. Listed below are the steps and stages of RPA implementation :
Map out the process
The tasks that fit for automation are well-defined and mapped out to learn the workflow and dependencies. This process involves locating input data, actions to be executed, etc.
Configuration of bots
RPA software helps companies to configure bots to execute specific tasks. These RPA bots are trained to navigate across various applications and perform various actions such as interacting with user interfaces and extracting input data etc.
Workflow design
RPA software’s user-friendly interface enables users to create automation workflows. These workflows are created by specifying the sequence of actions that the bots will execute. Users can select from pre-built automation components that can be dragged and dropped or they can create custom logic as per the needs.
Bot execution
After the workflow is set up, bots will execute the defined actions.
Data and exception handling
RPA bots can handle structured and semi-structured data. These bots can extract data from various sources and validate and populate it into various systems and applications. RPA software is capable of handling exceptions or errors that may happen during automation.
Monitoring and Analytics
RPA software offers robust monitoring capabilities to track the performance of bots, audit trails, and generate valuable analytics. These features help an organization recognize bottlenecks, measure the efficiency gains and improve the automation process.
Implementation of RPA can vary based on factors such as the choice of RPA software, the complexity of tasks being automated, and the needs of the organization.
RPA challenges
RPA faces many challenges during planning and implementation. Some of the RPA challenges include resource constraints, lack of infrastructure, high cost of implementation due to lack of skilled resources, etc. Some of these challenges in RPA affect small businesses more than they do for larger enterprises. Picking the right tool is part of solving this problem as it saves much cost in terms of licensing fees, resourcing, maintenance, etc.
RPA bots are good at data entry tasks like extracting data from PDF formats, converting PDF into Word, filling online forms, and simplifying file conversion.
RPA software is vital in clinical trial processes, matching patient health records with criteria, monitoring progress, and scheduling follow-up appointments.
RPA streamlines account payable tasks such as invoice processing, payment verification, extracting and validating invoice data, automating purchase orders, etc.
RPA enhances customer service by collecting and giving more information about the customers’ queries and automating data entry and validation processes.
RPA automates customer onboarding, billing processes, and data access in the telecom sector.
RPA Tools
How do I choose the right RPA tool?
First and foremost, we have to keep in mind the objectives and goals of the organization when adopting RPA. Though RPA tools must be chosen based on our requirements, there are some common criteria we can adopt here:
Ease of implementation
Since it is a new technology for an organization, it must be easy to implement and integrate with the existing legacy system. Then only can we reduce the downtime and make an easy transition to automation.
Ease of use
The tools must be user-friendly and flexible to get on with the basic automation process. It should require only less training to control the RPA system even for employees who lack knowledge of programming
Technical capabilities
A company has to look for technical capabilities such as scalability, screen scraping, cognitive capacities, etc. in RPA tools. As RPA bots deal with private and confidential data, standard security features must be available in the tool.
Cost
The RPA tools available on the market differ in their costs based on their features. Hence, you have to choose the tool based on your requirements and affordability. If you run a small organization, it is hard to afford and implement high-featured RPA tools.
Top Robotic Process Automation RPA Tools
RPA is an advancing field of technology, and many RPA tools are available on the market now. Let us discuss some of the popular RPA tools.
RPA Genie
RPA Genie is a popular RPA tool developed by ClaySys Technologies. It is a great platform with core capabilities of automating all types of monotonous tasks. RPA Genie has been used to automate repetitive tasks in various industries including banking, finance, credit unions etc.
Blue Prism
As an RPA tool, Blue Prism provides all core capabilities. It supports any platform and works with any application. Though you should have programming skills to use this tool, it is user-friendly for developers.
UiPath
UiPath is a popular RPA tool that helps businesses to automate their business processes. It provides well-defined features for managing automation workflow. UiPath provides flexibility in deployment models by supporting attended and unattended automation.
Automation Anywhere
As a popular RPA tool, Automation Anywhere has powerful automation capabilities that help to automate a wide range of tasks such as desktop automation, web automation, data extraction, etc. It also supports integration with external systems and applications.
How do RPA and AI relate?
What is AI?
Artificial intelligence is a technology that equips machines to simulate human intelligence and perform intelligent tasks. The application of AI has been evident across various industries and even in our daily lives. Smart gadgets, autonomous cars, and chatbots are some of the use cases of AI in our everyday life.
How do RPA and AI relate?
RPA and AI have many things in common. Both are promising technologies that help businesses and organizations with digital transformation. By combining both RPA and AI, we can implement a sophisticated form of automation called intelligent automation. Here, tasks that require human judgment and intelligence can also be automated by integrating RPA and AI technologies such as NLP, ML, etc.
Robotic Process Automation Vs. Intelligent Automation
What is intelligent process automation?
Intelligent Process Automation (IPA) is an automation technology that combines RPA and AI technologies. By bringing together RPA and AI, IPA implements a cognitive level of automation that can handle complex, unstructured, and non-routine tasks.
RPA vs. IA
Even though both RPA and IA are technologies used for automation, there are some key differences.
RPA automates routine and rule-based tasks using software bots. It mainly handles structured and predictable tasks with a set of rules. However, IA is a more advanced technology for automation that uses RPA and subsets of AI such as NLP, ML, and intelligent document understanding. It can use cognitive capabilities so that IA can handle unstructured, complex tasks that demand human judgment and intelligence.
Another key difference is regarding the ability to learn and adapt to new situations. RPA is designed to perform specific tasks with a predetermined set of rules. Hence, it cannot handle anything beyond what it is programmed to do. However, IA can learn and adapt to new situations, allowing them to handle complex and unpredictable tasks.
Future of RPA
The future of Robotic Process Automation is going to be all about how RPA tools integrate successfully with other technologies. For instance, the latest trend in automation is intelligent automation (IA). IA is the advanced form of automation that results from combining RPA and AI technologies. This helped the RPA bots go beyond their traditional boundaries of automating only routine and mundane tasks. Here, this integration of two technologies made it possible to add an element of intelligence, and the tasks of a more intelligent nature can be performed successfully. Predictably, an advanced form of intelligent automation will be the future of RPA.
In addition, for the time being, the potential of RPA is fully harnessed by large entities or organizations. Many small and medium-scale industries are not fully receptive to this technology for many reasons. Indeed, it will change gradually, and all sorts of industries, from small-scale to large-scale, will adopt it in their business processes.
Wrap-Up
As organizations and businesses grow and strive to achieve more, they have to work out strategies and implement them accordingly. Automation and RPA are trends in the domain of technology that have helped employees be more productive and creative. Since mundane tasks in high volume can be easily handled by RPA bots, it ensures that the tasks are error-free, and the employees are able to focus on other intelligent tasks. Of course, RPA technology is evolving, and we are expected to witness its wider and more advanced application in every sector.
RPA is an automation technology that makes the automation of business processes more efficient, error-free, and effective. But it is also possible to fail for several reasons. RPA can fail due to unrealistic goals, choosing non-ideal processes, and its inability to learn and respond to unexpected events.
What is process mining?
Process mining is used to monitor the execution of the processes in the organization and discover how the processes are performed. This helps us understand the inefficiencies of the processes and point out the places where improvement is required.
What is hyperautomation?
Hyperautomation is an advanced form of automation that automates as many business processes as possible using different technologies such as RPA, AI, and ML. It automates not just repetitive, rule-based tasks but also complex tasks that require human intelligence to perform the tasks.
What are the security challenges in RPA?
RPA poses security challenges, including the need for audit logs, supervision of bots, preventing data misuse, and cyber security vulnerabilities related to different layers involved in automation. We always have to be kept on alert to protect against cyber threats.
The way the COVID-19 pandemic has affected businesses and people has been concerning and every sector was trying to cope with the devastating impact which will still be felt in the years to come. Another big takeaway for the IT industry is the way technology has played a major role in bringing back the entire working community to continue work, accept services, learn, and interact socially.
This has created more opportunities for developers and DevOps professionals as they have got to focus on regular improvements and innovations together. DevOps is a combination of development and operations and has become very popular with consistent growth since 2009. Here, in this article, you will get to know more about the constantly changing DevOps trends that have emerged as innovative technologies.
Major DevOps trends
With the increased dependence on technology, major trends like DevOps have become popular among businesses. Here are some of the DevOps trends to look out for this year 2023.
Microservices architecture growth
In a microservices architecture, applications are divided into individual units thus offering greater flexibility to bigger teams. When compared to self-contained monolithic applications, microservicesarchitecture gives better scalability and agility to enterprises once they are deployed successfully. Developers can scale these individual units to suit the needs of the business instead of trying to scale a whole application at once. In addition, micro-services make it easy to cover issues without interrupting the entire application if something goes wrong.
Microservices are gaining power in 2023 along with serverless computing. Poor implementation of microservices can invite a lot of risks including security issues, data loss, and poor reliability.
Introduction to low-code tools
Low code development is the process of creating high-quality applications for coding with minimal effort. It is best suited for sudden business offerings and the market for low code is also increasing. The integration of Low Code Development and DevOps will facilitate coordination between teams and accelerate development. This will create a user-friendly interface and enable developers to make the best use of modern technology tools. With a Low-Code Development Platform, developers can easily build applications by utilizing a drag-and-drop interface and graphical user interface (GUI).
Going serverless
One of the leading and logical DevOps trends recently adopted by DevOps is going completely serverless. DevOps’s new serverless frontier in the architecture market is vastly projected to new standards and greatly reduces infrastructure costs. Efficiency and reliability are the two biggest advantages of serverless computing. Eliminating the responsibility of users in the management and functioning of infrastructure and enabling users to execute the code as needed in response to requests or event triggers are the main advantages of serverless computing over traditional cloud automation models. With the use of serverless architecture, developers can eliminate the risk of potential maintenance issues with traditional frameworks.
Enablement of Kubernetes
Kubernetes is a kind of container orchestration tool and is also known as K8s. It helps in sharing different software and applications associated with the IT operations team, thus making it easier for developers. There is a great deal of impetus for efficiency in choosing the Kubernetes workflow. Moreover, it makes it easy to test, develop, and deploy pipelines on DevOps.
DevOps security
Security is always an important aspect of every business. With a huge number of the remote workforce working from home for the last two years with enormous potential for the future, businesses have started to realize that a secure software distribution network is not just an option but a serious prerequisite.
DevOps Security, or DevSecOps is a set of tools that combines software development (Dev), IT Operations (Ops), and Security (Sec) together to enhance the ability of an organization to distribute services and applications securely at high speeds. The way security in the IT department needs to be attained has been changed by DevOps. As the transition from the long-term deployment of monolithic applications to active development environments, security has to be integrated highly into functional and development processes. DevSecOps begins with development life cycles that are secure and security patterns defined for services and applications and ends with automated security for automated operations.
Integration of Infrastructure as Code (IaC)
Infrastructure as code is the basic principle of DevOps in cloud locations. Everything including the storage devices, on-premise or in the cloud service networks – all falls under the term “code” which allows businesses to automate and simplify infrastructure. Moreover, the IaC is going to provide an elementary infrastructural version control system. Therefore, using code and DevOps infrastructure can result in faster recovery and minimal downtime. It is easy to automate by converting every storage, network, server, and database into lines of code. Additionally, it facilitates easy rollback and recovery using version control. Well, it’s very risky to implement, and you may have to implement configuration management systems.
Supporting chaos engineering
Chaos engineering comes under DevOps which allows software testing in production to be more resistant to unexpected problems or issues that may not be identified by other testing methods. The process aims to break down the system in order to detect flaws and strengthen every vulnerable link in the system. The entire approach is to help developers identify all possible threats and eliminate attacks that could interfere with the product’s performance in the real world or misuse of user data. Although there are many tools available to assist developers with the technique, implementing the practice in an exact way is very important. Therefore, QA and developers are advised to remain coordinated while working on the whole concept of identifying system vulnerabilities through effective research and development.
Chaos engineering, in this context, has proven to be the highest quality fourth or fifth-level discipline covered in the set of DevOps practices. You need to follow certain points to implement chaos engineering:
Understand and detect gaps and vulnerabilities in a system.
Fix the standards for the system to follow.
Perform tests, research, and make improvements.
Wrap Up
Here in this article, we have discussed the recent DevOps trends to look out for this year. DevOps has been growing as one of the most anticipated trends that are going to change the future of the IT industry as a whole. One can reap many advantages through the combination of potent and logical DevOps solutions. It should be noted here that the business requires experienced DevOps developers to support the upcoming DevOps services. The goal is to bridge the gap between development and functions while promising the growth of your business using technologically advanced solutions.
Zero-knowledge secures client data with encrypted access to it (therefore, the name Zero-knowledge or Zero Access). It assures that no one other than you can access your data with the same keys, not even the storage service you choose to keep the files.
There is always a possibility of a data leak when more people have access to confidential data. If it is in the hands of a single person, the possibility of data leakage is minimal. Many people do not even understand that a copy of your data or passwords will be saved somewhere whenever you sign up for a service. Your data might be safe but in theory, it is possible for anyone to get it.
If you decide to choose a zero-knowledge provider, you can be assured of one thing the accessibility to the data is restricted to you only. The main drawback of zero-knowledge is nothing but security itself. Once you forget the password there is no way to recover it, which means if the password is gone; it is gone permanently and there is no option to get it back.
How does zero-knowledge or private encryption work?
When we say private encryption is about security and it does not save copies of data, there should be a relevant explanation that states how that works. The technology behind this may seem complicated to first-time users and is still not clear to many long-term users. Zero-Knowledge Protocol ensures that no passwords have been transferred, that is, they cannot be stolen under any circumstance. This allows you to prove that you can share sensitive information with the other end of the communication without actually revealing it.
The term “zero-knowledge” is based on the fact that no secret information is exposed. In addition, one party (prover) can prove that the statement given to the other party (verifier) is correct, while the prover avoids passing on any information other than the fact that the statement is true. The math is kind of difficult, but it operates the same way other providers operate – you type the password, you get access and the only difference here is that – you forget the password, you can’t recover it. The essence of zero-knowledge proofs is that proving that a person has knowledge of certain information is trivial; the challenge lies in proving the possession of information without disclosing it.
The fact is that even if a government agent appears with a warrant, they only receive encrypted files. But if the same happens with non-private encryption, the providers have to reveal all the files and passwords to the authority. Zero-knowledge services cannot provide any customer details like passwords or files because they actually have zero knowledge regarding that because the data is encrypted using a password.
If there is an up, there is definitely a down. One of the main drawbacks of zero-knowledge services has already been brought to your attention. Here is another one: since the service offers you great security, it is comparatively slower than less secure services. This is not because of the private encryption feature it offers but because of the security measures it has like any other cloud service model.
Factors to be considered when choosing Zero-knowledge cloud storage
Well, here are some factors or reasons that you should look into, before choosing a zero-knowledge cloud service model:
Security
No matter how many interesting features technology delivers, security will always remain the primary concern of clients and companies. Zero-knowledge cloud services offer security that no other services can give. There is only one way in and out and the key (passcode) to the way belongs to the owner only. If the key is lost, no one can break in, not even the owner.
Two-factor authentication
What if you have to transfer or share a file with someone? Zero-knowledge service helps you to share the file without compromising its safety. There is a feature called encrypted file sharing using SSL/TLS protocol so that your file will remain safe throughout the process. You can use a Zero Access Backend to share an encrypted file with someone. The user on the other hand can retrieve the original file by decrypting it using his own private key. This is called key wrapping.
User experience
The experience and satisfaction of the user while using a service determine the success of the service. If any service fails to give a good user experience, then the service should actually be out of service. An enjoyable and simple user experience is essential as it will enhance communication between the user and the cloud consulting service provider. An impulsive and easy-to-use interface is a plus point when evaluating the overall experience of a customer and a zero-knowledge service guarantees you the best user experience.
Benefits
No other service offers you the level of security zero knowledge offers when used properly.
This architecture provides you with the required privacy as it does not share the password not even with the service provider.
There is no need to panic about the data breach as it always remains encrypted.
Wrap Up
Data privacy and security are two important factors we all need while using technology and no service provider can completely offer them without any drawback. Here, in zero-knowledge cloud storage, what we get is private encryption. This is the strongest and most trustworthy ally we could ever get rather than an encrypted external hard drive. Don’t you think how great it is to store your data in a physical environment without being accessed by anyone other than you? After all, the only reason why you have to switch to zero-knowledge cloud storage doesn’t end with keeping your private photos safe, it is about fixing a security imbalance.
Technically, Intelligent Data Capture (IDC) is an automated process that detects and extracts crucial data from incoming paper and electronic documents with no external intervention.
In general terms, IDC avoids manual data entry with the use of technology. Intelligent data capture helps your organization to save time, money, and resources with no need to extract and organize data manually from your documents. This extracted data, when integrated with content management or business process automation software, can be used by organizations for digital routing and delivering significant documents.
Intelligent data capture is mostly associated with automation. An automated solution is responsible for automating an entire task based on the requirements of your organization. It allows you to detect the gaps and identify the right solutions to fill them. To better understand the advantages of automated solutions in your organization, it is essential to get an idea about their working/functioning.
How does Intelligent Data Capture function?
When any kind of information reaches your business, it has to be properly captured, processed, and accessed in the right information system. Intelligent Data Capture (IDC) is the process of extracting information from any format like paper, email, or fax, whether it is a structured or unstructured document, and converting it to machine-readable digital format. Intelligent Data Capture solutions also help in sorting, extracting, and validating information automatically and sharing with digital workflows or ERP systems.
IDC can also organize different types of documents you input such as an invoice and an order slip, then derive relevant details from each document, verify it, and then capture the data to your database and ERP software or any other system you choose. This is totally a different process from conventional OCR (Optical Character Recognition). Previous generations of intelligent data capture solutions had comparatively poor accuracy rates and needed significant investment for configuration.
Intelligent data capture is very precise as well as simple to set up and arrange. Instead of spending too much time on configuration, the special self-learning capabilities of the Intelligent Data Capture tool enable you to submit a sample of the generally used document types. Because intelligent data capture is flexible enough to adapt to the needs of your organization. Invoice detection and data lifting, automated arrangement of data (automatically sorting different document types), and exporting to any accounting or business application line are some of the attractive features of intelligent data capture.
Benefits of Intelligent Data Capture
Intelligent data capture is mainly designed to avoid entering data manually from each incoming paper you receive, which consists of any invoice, bills, order slips, or any other type of document you use to finish your everyday task. This allows your organization to assign valuable tasks for your employees to focus on and reduce the number of people working in your organization instead of wasting hours on finishing manual data entry. Here are some of the major benefits of intelligent data capture:
Reduce headcount and increase efficiency
Intelligent data capture reduces the number of human headcounts as it takes away the task of entering data manually from human laborers. This in turn increases the efficiency of the organization as the IDC tool takes care of the data entry part.
24/7 Availability
Businesses that function globally have to be available for their customers irrespective of the time zones. Likewise, there are many industries like healthcare, hospitality, and shipping that need the availability of data at all times to maintain business efficiency. Intelligent data capturing ensures the availability of every data even during non-working hours and with no geographical barriers.
Augmented security
Intelligent capture makes sure that content is redirected to the right directories as quickly as possible and that only those who have been given permission to access the content can access it. It also offers a more stable and rapid implementation of security procedures across all content, protecting from expensive data loss and security infringements.
Simplified compliance
The content is linked to an audit trail by intelligent data capture that maintains compliance with government regulations and accurate retention of documents and other crucial data.
Eliminate human errors
When human employees extract data, there are chances for mistakes. Even if an employee reads something incorrectly or misspells the data, the repercussions can be negative and huge. IDC reduces the risk to near zero.
Reduce operational costs
All businesses incur operating expenses such as inventory, rent, salary, etc. Manual data maintenance requires huge costs along with the possibility of human error. Intelligent data capture helps in reducing additional costs and eliminating human errors by automatically updating the data wherever needed.
Data storage and data security
Storing files and folders physically takes more space and can lead to damage of paper documents. Moreover, confidential papers must be kept separate with restricted access. Intelligent data capture removes all these restrictions and data is encrypted to protect data from unauthorized access. It consumes less disk space and there is a backup option to prevent data loss.
Better customer experience
Customer experience is important for any business. Intelligent data capture ensures error-free and high-quality data to offer a better experience to customers according to their requirements. By ensuring good revenue, the business can deliver better offers, attract more clients, and improve customer satisfaction – all together with the help of IDC.
Wrap up
When it comes to high-volume, transactional business processes that rely on a variety of business documents, Businesses need an automation solution that can eliminate manual jobs that are inefficient and cost a lot of money such as document management and data entry, especially when it comes to many high-volume business processes that rely on various business documents. This is the exact point where intelligent data capture technology enters. Intelligent capture includes the application of machine learning and optical character recognition (OCR) technologies to convert print documents, electronic images, and other digital documents into sensible data.
Many advanced technologies have widened the range of options you have, in terms of how you provide the software you need to run an effective business. Deciding and implementing a new software application, especially when the company is going through a digital transition, can always create confusion among the decision-makers because of the available options and technical terminologies. It is important to know which software solution your company actually needs to run its business. Here, we are going to discuss hosted, cloud, and on-premise software applications and what makes them different from each other.
Hosted software solution
Hosted software solutions are somewhat similar to on-premise software solutions. Here you purchase the software license from a vendor and rent all the network infrastructure and the hardware from a third-party provider, instead of purchasing it. You have full control and access to the software you purchase but the server is hosted by an outsider and customers can access the hosted services using a direct network connection like a VPN (Virtual Private Network). A hosted software solution always addresses a single holder, that is your business, and is ideal if you are dealing with strict security requirements, sensitive data, and particularly intricate software implementation: but you have to pay a premium for the privilege. However, if your infrastructure is bigger and difficult to manage, the best option is to go for hosted solutions because you can have control of your software and license while using the server running on a vendor.
Cloud
With a cloud software solution, you can have everything including the software, network, storage, etc. after paying a monthly amount to the cloud consulting service provider. It is comparatively simpler and more cost-effective than on-premise infrastructure. When it comes to the functionality of cloud software applications, it is easy to generate a mix of integrated functions, or maximize the number of users, thus enabling you to grow and widen your business overseas. Automated updates indicate that your software is up-to-date and highly functional. The main advantage of cloud services over hosted services is the affordability as well as the scalability of the solutions. While using cloud services, the costs associated with maintaining data centers and tools can extend to millions. As cloud vendors depend heavily on clients to maximize revenue, they need to pay more attention to ensuring the security and safety of their client information. This is one of the significant ways to make sure that the technology is free from outside threats/attacks.
On-premise
An on-premise solution is the conventional way of purchasing and using the software. You will receive a product that you pay for in advance and your software service provider will install and run it on your own server. Here you have complete ownership to handle your computer server or servers internally and finish all software backups and upgrades, without the involvement of a third-party provider. It is easy for users to remotely access on-premise software online. In an on-premise implementation, the entire responsibility of running software lies within the organization. The software will be installed on your server once it is purchased from the vendor. They seem to be more protected, first and foremost; they are in the house. Secondly, they are managed by the IT department of the organization. Some of the important benefits of an on-premise cloud solution are that you have full control over the safety, expandability, and configuration of your servers. However, the scalability option is restricted based on the size of your data center.
On-premise v/s cloud v/s hosted
On-premise
In terms of cost, most on-premise software has a pre-existing license fee. In addition, the company will stay responsible and incur the expense of training, support, and updates. Anyhow, on-premise applications are assumed to be safer and valid, as it provides total ownership and control.
Pros:
Comparatively less long-term cost without any monthly expenses.
Easy to control policies and stages related to security and data.
Can be accessed even if there is no internet.
Total control over any software change or update.
Cons:
The heavy advance expense for hardware and license.
IT support is needed to perform any update.
A team is necessary for system maintenance.
Difficulty in scaling if more users are added.
Cloud
When it comes to smaller companies, the cloud is particularly helpful as it offers complete functionality at a small cost as there is no need for upfront investment. Additionally, cloud software is priced under a subscription package on a monthly or yearly basis and it covers training, assistance, and updates. The exact cloud service provider would give you improved robustness and swiftness. Therefore, with cloud computing, you get greater flexibility and time.
Pros:
Advance expense is lower.
Less maintenance cost.
Third-party providers offer a protected environment.
Scaling is easy because users are added/removed.
Easily accessible on all devices from anywhere anytime, but requires an internet connection.
Cons:
Least or no control over upgrades and changes.
Limited customization for company requirements.
Reduced control over policies and procedures.
Do not work without an internet connection.
Hosted
On the other hand, a hosted service is the best option for operating multiple properties using the services of your choice on a unified corporate server or a private cloud environment like Amazon web services or Azure. Here, the additional costs will be based on the level of support you need from the virtual private cloud hosting provider.
Pros:
No need to perform application maintenance tasks.
Easily accessible from any device.
All upgrades and updates are performed by the service provider.
Cons:
Requires an internet connection to access any apps.
Applications run slow during peak times.
Wrap up
The disparities among the three – on-premise systems, cloud, and hosted are very clear. Anyhow, there are still chances for confusion to come up while comparing cloud and on-premise. The major difference lies between what you have to control yourself against what is managed for you.
Behind every operation that takes place in the manufacturing industry, artificial intelligence plays a major role. AI has the ability to receive different types of data not just from people, but also from machines, sensors, etc., and use it with specifically designed algorithms in order to optimize operations. If we consider the use of artificial intelligence in manufacturing, AI offers multiple ways to improve industrial value. Machine Learning or ML is the most commonly used subset of AI in manufacturing. The process manufacturing industry is one of the highly combative industries with rapidly transforming markets and complex systems. Therefore, the process plants need every single benefit that AI and ML can offer to spur innovation and maximize profits.
Benefits of using AI in the Manufacturing Industry
Implementing Artificial Intelligence has many for the manufacturing industry. Let us start with the key advantages or benefits AI offers in this area of operation:
Faster decision making
With the integration of IIOT (Industrial Internet of Things) with VR OR AR and cloud computing, companies will be able to share simulations, talk about production activities, and pass on live crucial or relevant information no matter wherever their location is. Moreover, the data collected from sensors and beacons help decide customer performance, enable businesses to foresee future requirements, make quick decisions on production, as well as accelerate transfers between manufacturers and suppliers.
24/7 production
The working hours of human employees are divided into 3 shifts to ensure smoothness and continuity in production. On the other hand, there are AI-induced robots that work 24/7 without any intervals or breaks. They are designed to enhance productivity and increase business while meeting the demands of customers around the world.
Safe environment
Human workers can make mistakes knowingly or unknowingly. Such mistakes may result in uncompromising errors or accidents in the organization. Though AI cannot eliminate the risk factors completely, it can at least minimize or reduce the intensity of errors. The availability of remote access controls eliminates the need for human interventions. Also, ultra-modern sensors allied with IIoT (Industrial Internet of Things) equipment assist in the efficient installation of defense and security guards.
Opportunity for human employees
As AI takes up the manual jobs done by human employees, it lifts the weight of time-consuming, tiring, and repetitive work from manual workers. Human employees now have the time to focus more on creative and challenging tasks that actually require their intelligence to drive the business in the right direction.
Less operational cost
It is true that setting up AI in industrial businesses requires a huge capital investment but the ROI (return on investment) you can expect from AI is significantly higher. Once intelligent machines start to deal with day-to-day operations, businesses will be able to save lots of functional costs.
Use Cases of AI in the Manufacturing Industry
As we have discussed the benefits of AI in the manufacturing industry, let us move to its use cases. The use cases of artificial intelligence in manufacturing include:
Predictive maintenance
Analyzing sensor data allows manufacturers to detect possible errors and downtime, anticipate the time when machines stop working, and schedule repairs before errors occur. This results in increased efficiency because the functions do not have to be stopped, and minimizes the cost of repairing and replacing failed machines.
Cybersecurity
As large amounts of data are produced in security logs due to the manufacturing industry environment, filtering doubtful ones during everyday operations is a big task. Artificial intelligence is capable of identifying fraud, infiltrators, malware, and more on its own, enabling it to deal with modern cybersecurity threats and challenges more rapidly and precisely than a human worker.
Edge analytics
Edge analytics gathers data from AI-driven devices and sensors, thus providing decentralized and quick statistics from those datasets. The data gathered by Edge, after analysis, can be converted into statistics which then can be used to optimize operations. Edge analytics can also be used to:
Monitor the health and safety of employees
Enhance production quality and outcome
Identify the early stages of performance impairment and risk failure.
Robotics
No other technology is as efficient as robotics to automate business operations, reduce workload, increase production, and minimize errors. Robots reduce the workload of employees and allow them to spend more time on much more complex tasks. With AI being added to robotics, they not only monitor their actions but also train themselves to work more efficiently and improve their performances every day.
Quality checks
This is one of the most important use cases of artificial intelligence in the manufacturing sector. Sometimes detecting the internal malfunctions of equipment becomes difficult to even though experts are not able to monitor the performance of the products and find out their shortcomings. But this task can be easily completed with the help of Artificial Intelligence (AI) and Machine Learning (ML) as AI tools and applications can effectively detect minor bugs in machinery. Therefore, it is clear that artificial intelligence ensures quality checks and control in manufacturing. Smart AI solutions track machine productivity and performance, enhance productivity, detect faults, and eliminate costs of maintenance as well.
Customer management
Smart AI chatbots not only help in increasing sales, productivity, and performance but also helps in improving customer service. This reduces the waiting time of customer, gives instant replies to them, build customer relation using CRM tools, and use consumer data to make informed decisions.
Wrap Up
AI and industrial automation have achieved extensive and significant progress in recent years. The development of machine learning techniques, the most sophisticated robotic technology, the increase in the growth of computer power, and ultra-modern sensors – all have contributed to the emergence of AI as a superpower in the modern era. The deep learning and speech recognition skills enabled AI to collect and extract data, identify patterns, learn, and improve day-by-day. All these factors made AI highly adaptable to the human environment. The implementation of Artificial Intelligence (AI) in the manufacturing industry not only supports the manufacturers but also assists technology developers in improving the quality of their ideas, bringing out ‘outside the box’ digital technology solutions, and building them into reality with expert assistance.
Blockchain is known to play a major role in cryptocurrency systems like Bitcoin to maintain safe and decentralized transaction records. Bitcoin is a major reason why blockchain has gained popularity in the last decade. It has emerged as a game-changing terminology for various industries including supply chain, health, education, IoT, and many more. The popularity and industrial applications of blockchain are booming because of its inherent advantages – a ledger that is decentralized and distributed is unchangeable and fully transparent. A blockchain network does not require a centralized authority to handle it. The information saved in the blockchain ledger can be cross-checked by anyone in the network. The bottom line is safe, reliable, and offensive to attackers.
Blockchain Use Cases
Blockchain is a powerful technology that offers many advantages to various industries. Here are some of the major use cases of blockchain:
Smart contracts
Smart contracts are similar to normal agreements. The only difference is that the contract guidelines are implemented on a blockchain in real time. This not only eliminates the need for intermediaries but also increases the level of liability for all the parties involved, which is impossible in traditional contracts. This is also cost-effective, saves time, and ensures compliance from all the parties involved. With the discovery of benefits offered by contract-based blockchain in different sectors, there has been an increase in its popularity. Some of the examples include BurstlQ in healthcare and Propy in real estate.
Internet of Things (IoT)
The next reasonable rise in blockchain applications takes place in the Internet of Things (IoT). IoT has a lot of applications and numerous security concerns and the proliferation of IoT products gives the greatest opportunity for hackers to loot your data on everything from Google’s Nest to a smart thermostat. Such data breaches can be avoided using blockchain-infused IoT that offers a great extent of security with the transparency of technology and virtual integrity to maintain things “smart”. Filament, HYPR, and XAGE security are some of the US companies that use blockchain in IoT to make it smarter and more secure.
Personal identity security
As per the reports, around 14.4 million Americans have been subjected to identity theft in a year, which indicates that 1 out of every 15 people is becoming the victim of identity fraud. This type of fraud can range from the forgery of documents to personal file hacking. The government can see a significant reduction in identity theft claims by storing sensitive data like social security numbers, certificates of birth, PAN, etc. in a decentralized and fixed blockchain ledger. Some blockchain-based initiatives at the forefront of identity security include Ligero, Illinois blockchain initiative, and Civic.
Healthcare
Blockchain in health care has played a significant role in managing patient data and security. With a huge number of data breaches and leaks, protecting personal data has become a serious concern for patients and hospitals. The transparency blockchain has offered gave assurance that changes in the information are clearly visible and cannot be meddled with. This way, blockchain technology has enabled the quick and secure provision of sensitive healthcare information to providers and patients, while giving privacy and transparency through encryption and sophisticated security codes. It also makes patient-provider communication efficient because of its decentralized nature. Since information is stored in multiple nodes, any change made in them will be updated in every node connected, thus helping to deliver updated information to doctors as well as patients.
Logistics
The use of blockchain in logistics systems and distribution networks allows easy tracking of goods. Though companies try to invest in tracking technology, the safety of the technology remains questionable as they lack a secure authentication process. This may give way to cyber criminals making use of network information. Blockchain guarantees you an appropriate authentication channel with verification. Plus, it facilitates live tracking of all your deliveries, thus ensuring a better customer experience. Moreover, it is also helpful in improving the national as well as international delivery processes while increasing their cargo capacity and their processing efficiency. If used properly, it will withstand a lot of adverse conditions that provide better transparency in logistics. This also builds reliability and trust between companies. With better transparency, invoice disputes will be reduced, labor exploitation will be reduced, and better auditing costs will be incurred.
Government
We have already mentioned the use of blockchain ledgers to secure crucial and sensitive data. But blockchains in the government sector have other uses as well. As reported by New York Times, blockchain can play a major role in enhancing the functional efficiency of bureaucracy, and accountability, and reducing large financial liabilities. Blockchain is also capable of cutting down millions of hours of red tape each year, using smart contracts to keep public officials responsible, and recording all activities to provide transparency. Moreover, blockchain-based voting can enhance the engagement of the public in elections as it provides the security and scrupulousness that enables voting from mobile devices. Voatz, the State of Delaware, and Follow My Vote are some of the companies and government agencies that use blockchain applications to improve government.
Media
The majority of prevailing issues in the media are related to intellectual property rights, data privacy, and royalty payments. As per the study conducted by Deloitte, media digitization is the triggering factor behind the widespread sharing of copyright-infringing content. According to Deloitte, blockchain can offer the media industry the facelift it needs in terms of copyrights, payments, and piracy. The power of blockchain in the media industry lies in its ability to block the presence of digital assets in different locations, such as mp3 files. It facilitates sharing the file while maintaining ownership as it is not possible to make piracy virtually with a transparent ledger system. In addition, blockchain enables advertisement agencies to aim at the target audience and musicians to gain appropriate royalty, thus maintaining data integrity. The companies that utilize blockchain in the media industry are MadHive, Steem, and Open Music initiative.
Money Transfer
The two best technology use cases of blockchain are money transfer and payment processing. Bitcoin-initiated, cryptocurrency transfer applications have gained much popularity in recent years. Blockchain technology enables transactions at a greater speech in real-time, thus saving time and money as it does not charge any transaction fee like most banks or financial institutions. It also supports faster and more secure cross-border payments (payments made between people in different countries), enables verify transactions that offer extra security, avoids any kind of intermediaries or third person between the payee and the payer, etc.
Wrap Up
Here we have discussed some major sectors that utilize blockchain in different ways. It has been proven that the advantages or uses of blockchain applications are not limited to cryptocurrency and bitcoin. The transparency and reliability it offers have impressed a lot of businesses that saved time and resources using blockchain technology. It is clear that blockchain is going to dominate the economy at some point in the future.
Companies that develop artificial intelligence solutions is something that is gaining more attention from businesses and organizations these days. AI has emerged as a huge trend in many industries. The logistics industry is one where artificial intelligence can serve many of its purposes. Transportation, delivery, and product supply are also part of logistics where AI makes a difference.
AI applications in logistics
Though there are different ways of implementing artificial intelligence in the logistics industry, there are some major AI applications or use cases which are explained below:
Planning
Planning for a logistics industry has many aspects. Effective and feasible approaches to planning are very much necessary for coherent coordination and proper use of resources, both financially and humanely. The use of live data along with the smart solutions of artificial intelligence facilitates more precise forecasting optimization and has only a few errors when compared to conventional prediction methods. This enables the manufacturers to manage human resources and other resources in the most efficient and cost-effective way, thus minimizing the holding cost which can lead to costly production.
Automated warehousing
An automated warehousing system is a relevant area where we can employ artificial intelligence. Many businesses are relying on warehouse robots to enhance the management of the supply chain in businesses. The value of warehouse robots with the capabilities of AI in the market was $2.28 billion as per the records of 2016 and is expected to show a growth rate of 11.8%. Since they are driven by artificial intelligence technology, performing tasks like arranging, packaging, and transporting goods and services becomes easy and effortless. Amazon Robotics is one of the best examples of warehouse robots.
Autonomous devices and services
Modern artificial intelligence technology is driving most of the autonomous vehicle systems such as drones, self-driving cars, robots, etc., that offer a helping hand in labor-intensive works at logistics and factories. Artificial intelligence is ideal for these tasks as it does not need analytical skills. Moreover, self-driving cars can significantly reduce the reliance on human drivers. Such technologies aim at supporting the health and safety of the driver by minimizing fuel consumption and excessive emission of carbon from vehicles.
Analytics
The computer vision technology enabled in AI helps in detecting malfunctions by identifying the type and intensity of the damage. This allows the manufacturer to avoid or minimize any further damage and work on the same as it analyzes the live data gathered from sensors installed in the machines. Machine Learning (ML) technology enables analytics tools that improve forecast analysis, and technicians to recognize patterns from sensor data. Hence, allows the manufacturers to take appropriate actions to make the situation better before something goes wrong with the machinery.
Back-end operations
Automation is not just limited to heavy tasks that require a great amount of human effort. It can lift the weight of many silly and repetitive tasks from the worker’s shoulder. AI also contributes to improving the automation of unskilled and hand-operated office work such as billing of products and services, generating reports, email processing, organizing and tracking transportation of goods, employee management, etc. Artificial Intelligence can also improve sales and marketing departments by generating more accurate market analytics, lead scoring, and email marketing.
Conversational agents
Customer service is another important area of logistics on the verge of automation. As AI-driven conversational bots can acquire a significant position in customer service, it is time for the logistics industry to go beyond conventional voice-based picking. Artificial intelligence boosts the use of advanced conversational solutions throughout the logistic platforms from regular consumer interactive platforms to warehouse interactions. Moreover, new innovations in NLP (natural language processing) algorithms expand the scope of conversation AI through:
Feed in, store, and extract product information.
Activate an automated picking system in voice-input-assisted warehouses.
Use voice input to guide drivers.
Sales and marketing optimizations
Many giant automobile companies such as Tesla, Benz, etc., are investing a good share in automated vehicles or autonomous vehicles. As per BCG figures, 25% of the miles covered by private vehicles will be replaced by shared autonomous electric vehicles (SAEVs) in 2030. Drones are also getting much popularity in logistics industries as they are considered a reliable, and safe option for the delivery of various products to different locations, especially products with less shelf life. These delivery drones play a major role not just in eliminating unnecessary costs like delivery charges but also in freight management.
Better demand prediction
It is essential for the successful running of a company to predict the number of goods and supplies required for the future. Any failure to make accurate forecasts and inability to meet the demand because of the low quantity of goods results in financial loss, which is the last thing any company would want to face. When the predictions are not accurate, you will lose inventory and sales. AI algorithms are very good at predicting these trends. In fact, they can predict far better than human specialists, after analyzing the previous transaction history.
Wrap Up
With digitization hitting almost all global logistics companies, steps are being taken to disrupt the Artificial Intelligence (AI) industry. In order to remain competitive and dynamic, international logistics giants like DHL are taking advantage of AI’s machine learning technologies and Robotic Process Automation to efficiently automate crucial business processes. After considering all advantages and benefits it could offer, incorporating Artificial Intelligence technology into the logistics industry is very important to outperform rivals and to bring in a reasonable and positive revolution in the current business world.
Artificial intelligence not only drives the process faster but also gives emphasis to precision and workload reduction in the industry. There are many applications of AI that have proved to be cost-effective, efficient, and useful at the same time. It enables the use of human resources in tasks in addition to people who do not need skills. All these qualities make AI the best option for the logistics industry.
