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What Comes After 5G?

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1G brought us the very first cellphones. After that, 2G let us text one another for the first time. Next, 3G brought us online and 4G gave us high speeds. What could 5G bring?

Each stepping stone was revolutionary for civilization and how we communicated and interacted. 5G promises blistering download speeds, more bandwidth, and lower latency. This wireless technology means self-driving cars and remote surgery.

Now is the time to think about what is beyond 5G technology. 6G or the sixth generation of wireless communication is coming. The technology does not exist yet but has led to wild speculations throughout the internet.

Most of what we know about 6G comes from a handful of researches and studies. With all the misconceptions about 6G, it’s hard to say what is fact and fiction.

If you are an investor keen on 6G prospects, NoBSIMReviews article on Ray Blanco’s “Apple Fi” will assist you. Read on to know what is real and what is not when it comes to technology beyond 5G.

Is 6G Even Real?

The big question in everyone’s mind is whether 6G is even real. The answer is both yes and no. We will tell you why.

Yes, 6G, or whatever its name is going to be, will replace 5G. However, 6G is not a functioning piece of technology yet.

Still, very much of 6G is in the research phase. The telecom industry is still working on the 5G revolution.

For this reason, they are treating 6G as a middle sibling. This means that mom and dad are going to focus on their 5G baby for the foreseeable future.

When Will The Industry Focus on 6G?

So, when will the industry focus on 6G instead of 5G? And when will 6G finally launch? Well, mobile technology evolution is historically slow. The progression of it is relatively steady. After all, there is a lot of money to make in every stepping stone.

3G came in the early 2000s and it was unbelievable. After that, 4G came in the 2010s and it too had a major impact on technology throughout the world. 5G came in the 2020s and it is still the primary focus of world industries.

 Given the pace of progression, 6G may take as long as a decade to grace the world. That means it could take as long as 2030.

Is 6G technology in The Process of Development?

Just because 6G may take as long as another full decade to see the light of day, research is not static. As we speak there are many countries and companies tirelessly working on 6G technology.

Most major companies and governments are working on 6G projects.  Many are actually talking about their plans openly.

Japan is one of the top contenders who might come up with 6G technology before any other country. They already have a 6G project running.

Samsung and LG both have 6G research centers in South Korea. Furthermore, HUAWEI also reportedly started its 6G research in China.

What About The USA?

In 2019, Donald Trump spoke about 5G and 6G technology. He wants the best technology to come to America as soon as possible.

He says that it is much faster, more powerful, and even smarter than the current standard. Furthermore, he urges American companies to step up so that they achieve 6G before others. There is no reason for the USA to be lagging behind.

It’s refreshing to see that everyone is hopping on the 6G bandwagon, even Donald Trump.

There is talk that Apple is coming up with 6G technology or as Ray Blanco calls it, the 5G killer. He says that it is coming really soon and will be faster and better than ever.

Who Will Come Up With The Fastest 6G Technology?

Many companies and governments are starting to work on 6G technology. It is hard to tell who will be first and who will come up with the fastest 6G technology.

The truth is that it is very uncertain who will win. However, that does not stop experts from guessing who the top contender will be.

What Does 6G Mean to You?

It’s great to talk about what 6G can do. Since it is just an idea at this point, you may be asking, what it means for you. The answer is mindblowing.

It’s going to be like 5G but much faster and better. You will get even higher speeds, lower latency, and masses of bandwidth.

Researchers are talking about 6G being the network to move away from wires completely. Instead, it’s going to use our own devices as antennas to create decentralized networks.

The networks will not be under the control of a single network operator. 6G can be the generation that takes power away from the big telecom companies and gives it to you – the end-user.

The Potential of 6G

5G will take a technology like autonomous cars, drones, and smart cities and take them to the next level. But that is just a child’s play as 6G will make science fiction come true.

For instance, the integration of brains in computers will be possible. Just imagine what this could mean for mankind.

Technology will soon be able to tap into our bodies through something as simple as contact lenses. This will show us a reality that is much different from what we see all around us.

You will be in a world with real-life cyborgs walking around. And we will be able to charge our phones without any sort of connections what so ever.

6G coverage can extend over oceans and even into space. This means, when we finally colonize the moon, you can still face-time with your loved ones on planet earth.

So you see, the world of infinite possibilities in science fiction books is one stepping stone away. Once in our hands, we will be more powerful than ever.

Artificial Intelligence

3 ways how leaders can adapt to the changing landscape by AI

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Today, Artificial Intelligence (AI) is everywhere. It is breaking boundaries and pushing the limits across every industry. It is changing the world around us and significantly impacting our professional lives.

AI is drastically transforming business functions — manufacturing, logistics, finance, operations, customer support, etc. — and is opening doors for new jobs. It is also broadly reforming all business stakeholders’ job roles — including frontline executives, C-suite executives, vendors, suppliers, distributors, and customers.

When technology has such massive potential, how can companies remain oblivious to it?

We are going through the Industrial Revolution 4.0 that will transform the way we work forever. Many scientists and business gurus predict that this revolution will have a more significant impact than the internet revolution of the ’90s.

If you look closely, then you will realize that what they say is true. The following points illustrate the differences in a tabular form.

Internet RevolutionAI Revolution
1. Encouraged human-to-human collaboration.1. Is encouraging machine-to-human collaboration
2. Video conferencing, emails, and social media are the three best examples of the Internet revolution.2. Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) will revolutionize human-to-human collaboration forever.
3. Allows managers to send and receive timely notifications and alerts.3. Allows managers to analyze reports and enables them to base their strategies on data.
4. Allows managers to allot tasks to their team members.4. Allows managers to monitor the performance of their employees and provide corrective action.
5. Allows the support team to provide help to customers via phone, email, and call.5. Allows the support team to install chatbots that gather essential customer information and provide answers to trivial questions.
6. Allows employees to work from remote workstations and serve customers from geographically distant places.6. Allows the company to install Robotic Process Automation (RPA) that performs functions quickly without human intervention.
7. Gave rise to new jobs such as data entry, form filling, payroll management, etc.7. Is automatizing trivial jobs. AI is thousand times efficient and a million times faster than humans. It also eliminates human errors.
8. Collates business-centric information in a single repository and provides access to all business stakeholders.8. Not only collates information but also finds out patterns, structures, and errors in data.

The above table lists 8 reasons for how AI is transforming businesses globally. AI will find more applications in the coming times, and leaders need to be ready to welcome them.

Let’s look at 3 ways how leaders can adapt to the changing landscape by AI:

1. Jobs are transforming at a fast pace

Every business has to comply with government regulations and has to keep the customer’s interest in mind. This gives rise to specific trivial jobs that eat up the employees’ time, such as form filling, collecting customer data, creating reports, data entry, payroll management, etc.

The Internet revolution of the early ’90s gave rise to such jobs. The economy improved by leaps and bounds as employment opportunities rose exponentially. But companies realized that humans have a downside as well. We aren’t good at maintaining records and are prone to making errors. In some cases, companies made heavy losses due to human errors. But due to the lack of any suitable alternative, they had no choice.

With the emergence of AI, companies have to bear the negative consequences no longer as it can handle trivial jobs efficiently and eliminate human errors. Realizing this advantage, companies are investing heavily in RPA and other software such as Enterprise Resource Planning (ERP) systems and Customer Relationship Management (CRM) systems. ERP systems, such as Sage 300Cloud, is helping companies manage business-critical operations like manufacturing, logistics, finance, supply chain relationships, and inventory management at the click of a button. CRM software like Sage CRM allows companies to instantly resolve customer queries, strengthen customer bonds, manage payroll management, and easily monitor employees’ performance.

As jobs’ nature is changing, managers need to keep an eye on the corporate world’s new realities. AI is revolutionizing yesteryear jobs, and companies need to be quick in transforming their functions. Even a small delay can degrade their status from leaders to laggers.

2. Conduct periodic training sessions for your employees

Training is a necessary element for all employees. It allows them to understand the changing demands of the industry and enables them to upgrade their skills. Gone are the days when a college degree guaranteed a managerial post. Today, if you don’t polish your skills, you will be shown the door.

In the cut-throat competitive world we live, it’s essential to hold training sessions for your employees and upskill them. Failing to do so will make your workforce obsolete and negatively impact the overall functioning of the company. For example, AI has made all the front desk jobs redundant. You no longer need a human to sit on the front desk and answer people’s questions. An AI can engage with thousands of callers simultaneously and provide them solutions. This helps the company to serve more customers and also save money.

But sometimes a chatbot doesn’t know what to do. In such conditions, it forwards the query to its human counterparts, who then take up the issue and provide unique solutions or recommendations.

This is where training plays a significant role. You will have to train your support service team to handle chatbots. They should have working knowledge of programming chatbots and employing troubleshooting algorithms when required. This strategy will increase the productivity of the employees and allow them to focus on issues that require human ingenuity, emotions, and intelligence, such as:

a. Brainstorming marketing strategies

b. Building target segments

c. Creating niches

d. Charting financial plan

e. Designing a Vision, Mission, and Values (VMV) statement

f. Studying competitors

3. Planning for the future

Forecasting the future requires a strong foundation on data to help the management team understand the changing business landscape. A combination of logic and creativity is essential for estimating how the industry shapes and performs in the future.

AI provides a fertile ground on which companies can build their bases. Other technologies, such as Machine Learning, Web Application, Neural Networks, Data Analytics, etc. also play a crucial role in carefully analyzing the market.

It also provides a blueprint that allows companies to allocate resources optimally and use them judiciously. The COVID-19 pandemic has displayed how useful AI and related technologies are. They have breathed new life into businesses. By integrating AI with ERP and CRM systems, companies have been able to do the following:

a. Retail stores suffered a massive loss in footfalls. AI helped them set up online portals, segregate customers based on their needs, wants, and wishlists, and thus increase demands.

b. Non-COVID patients were discouraged from visiting clinics. AI allowed doctors to provide primary healthcare to patients remotely. It also sends timely reminders regarding medicines, healthcare articles, and allows patients to arrange one-to-one sessions with doctors.

c. AI-enabled ERP systems check the inventory levels from time to time. As soon as the number of raw materials falls below the set threshold level, it automatically places orders with the vendor.

d. Since social distancing is the only way to avoid contracting the virus, the accumulation and disbursal of products in/from the warehouse have become a problem. AI-enabled ERP systems control robots that help in storing and moving products from point A to B smoothly.

e. Companies are finding difficulties in serving their customers appropriately as public transport facilities have either shut down or are not functioning at their optimum level. AI-enabled CRM systems have come as a boon. They are enabling the support team to provide top-notch services through video-conferences and calls.

f. AI-enabled CRM systems also record each customer’s specific details and suggest ways to effectively deal with them.

Conclusion

The AI revolution is creating ripples in the business landscape. The customers’ aspirations, stakeholder relationships, transaction procedures, and support processes will undergo a massive transformation. You cannot survive without incorporating AI and related technologies in your business blueprint in times of cut-throat competition.

Managers need to revamp their business processes and mold themselves according to the changing times. This article will enable managers to focus on the three main points — The changing nature of jobs, the importance of conducting periodic training sessions, and forecasting a good plan for the future — and help them make winning strategies for their business.

About the Author:

Nishant likes to read and write on technologies that form the bedrock of modern-day and age like Web Apps, machine learning, data science, AI, and robotics. His expertise in content marketing has helped grow countless business opportunities. Nishant works for Sage Software Solutions Pvt. Ltd., a leading provider of CRM and ERP Application to small and mid-sized businesses in India.

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Artificial Intelligence

Perspectico Launches AI-based Job preparation platform for college graduates

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Perspectico

The spread of the novel coronavirus has interrupted how graduates were preparing to enter the job market. Uncertainty about job opportunities and disruption to regular routines has led students to a stressful job search. To provide ease to students, Perspectico, an edtech startup launches AI-Based job preparation platform for college graduates. With this launch, the startup aims to create a positive job ecosystem for 2cr college students.

Launching the AI-Based Preparation Platform, Nikhil Chainani – Founder; Perspectico commented, “With our research &development we have seen that college graduates when looking for a job becomes very confused as most of the job platforms are scattered.  Keeping this in mind, we built this common tech platform that will help not only have all the details on job opening but it will also prepare them to find their right job thus providing the right direction & guidance so that they can shine in their respective careers.”

This job preparation platform is India’s first relevant and guided job preparation tool. This will help the students with all the recommendations and evaluation which is required to get fully prepared for the job market.

The highlight of AI-based the platform is that it provides a market place for job openings across India to the college graduates on a real-time basis. In case students profile is not suitable, the AI Engine recommends the online course to improve their areas that need attention. A student can also undertake a self-evaluation test to measure competencies.  These tests include subjective, MCQ &Situational test.

In addition, students are provided with Preparation materials, in-house courses, mentorship and interview guidance.

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How AI is Transforming Insurtech

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how-ai-is-reshaping-insurance

Technological advancements are continuing to transform the way we live, work, and get insurance. The insurance industry is being disrupted by tools designed to improve efficiency and accuracy; this evolution has been dubbed insurtech, and startups across the country and globe are implementing AI into their insurance coverage process. 

One of the biggest benefits for utilizing artificial intelligence in the insurance sector is risk mitigation. Computers can scour through data to make more informed decisions in seconds. 

Keeping reading to learn about how artificial intelligence is improving processes in the insurance industry.

What is Artificial Intelligence?

To understand how AI is transforming insurance it’s important to understand what artificial intelligence is and the many ways it can be beneficial in risk mitigation. 

Artificial intelligence is a technology that helps computers solve problems and think rationally, similar to how humans make decisions. Computers can scour through tons of data to make a rational decision based on facts and critical thinking way faster than a human ever could. 

Two of the most popular sectors of AI are deep learning and machine learning. Machine learning predicts outcomes and weighs risks by analyzing data to find trends and predict future outcomes. For example, a car insurance company could use data around specific age groups and genders to predict driving patterns. 

Deep learning improves speed and efficiency by teaching computers to lead by example. Artificial neural networks help computers complete tasks that human workers would normally accomplish, allowing workers to focus on more high-level tasks and spend less time on repetitive ones. 

Artificial Intelligence and Insurance 

AIs main goal is to teach machines to make trusted, accurate decisions that are free from human error. This makes insurtech especially valuable to insurance companies who can save big by predicting outcomes and identifying risks. 

Here are some of the ways insurtech companies are utilizing AI today: 

  1. Automated underwriting
    AI is improving speed and efficiency in consumer insurance through automated underwriting. This is speeding up the claims process by having customers file claims directly online rather than talking to an insurance agent. Users can submit photos of an accident and the automated underwriting software can assess damage cost instantly. Other features of automated underwriting include built-in claim tracking and reporting. SAAS software makes this possible, paper-less, and free from human error. 
  1. Preventing Fraud and Blocking Hacking
    Insurtech is also helping prevent insurance fraud. The FBI estimates that approximately $40 billion is stolen through insurance fraud each year, which in turn actually raises all customer rates while also impacting business costs. AI can track irregular customer behaviors and claims to identify fraud in real time. The technology can also help block hacking. 
  1. Adding Personalization to Solutions
    No two accidents are ever the same. Insurtech allows carriers and customers to personalize their solutions. If someone had a bad driving history but has since changed their behavior, they can request an AI tracking application to analyze their driving and then generate a rate based on current behavior. Safe drivers would be less risky to insure and be charged a lower rate. 
  1. Offering 24/7 Accessibility for Customers
    Another thing that artificial intelligence can provide is 24/7 access without having to employ 24/7 staff. Accidents can happen anytime but chat box software allows customers to get information (even at 3 a.m. on a Monday) without having to get an agent on the line. This allows insurance companies to provide around-the-clock value while saving big on staffing costs.  

Artificial intelligence allows insurance companies to make faster, more informed decisions while also speeding up their processes, all to the benefit of the customer. Accurate risk mitigation ultimately gets customers more accurate rates and helps insurance companies save. 

To learn about the startups that are utilizing AI to transform the insurance industry check out the infographic from The Zebra below! 

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