Categories
Fin Tech

Social Trading and Its Implications: A Financial Technology Market Research Perspective

Written by Ju Jian Ngiam on  Digilah (Tech Thought Leadership).

Social trading is a form of investing that enables individuals to observe the trading behavior of their peers and expert traders, and to follow their investment strategies using copy trading or mirror trading.

It democratizes access to financial instruments such as options, as traders can make decisions based on other traders’ actions rather than analyzing raw financial data, which they may not have the time or ability to do so accurately.

While social trading provides a platform for investors to learn from and mimic other traders, copy trading is a specific subset of this broader concept.

Copy trading is an automated process where an investor’s account mimics the trades of a chosen trader automatically.

Social trading requires more involvement and understanding, allowing investors to pick and choose specific trades to follow rather than copying all trades from a specific trader. In some cases, social traders can make the opposite trade of the expert they are following if the trader has a bad reputation.

An example would be the anti-ARK Innovation Fund (ARKK) exchange traded fund, Turtle Short Innovation ETF, otherwise known as SARK. The ARKK Fund was once a respected exchange traded fund, but due to poor performance in recent years, an exchange traded fund called SARK was created to short the ARKK. The fund went up by 75%, while ARKK dropped by 50% in 2022, proving its mettle in the financial industry.

Key players in the social trading space include eToro, Moomoo and Robinhood, among others. These platforms provide a wide array of investment options, from foreign exchange and stocks, Exchange Traded Funds (ETFs) to cryptocurrencies, and attract traders of all skill levels. High Frequency Trading (HFT) firms like Tower Research, Domeyard are also relevant, as they employ sophisticated algorithms that execute large quantities of trades within split seconds, often at the expense of retail investors.

Social trading’s main benefit is its ability to leverage the collective knowledge and experience of a community of traders, otherwise known as the wisdom of the crowd.

It allows inexperienced investors to learn from more seasoned traders, potentially mitigating some risks associated with lack of knowledge.

However, social trading also carries significant risks. Copying a strategy without understanding its underlying mechanism can lead to substantial losses, especially in volatile markets. There’s also the risk of following traders who themselves may not be competent or who may be driven by emotions.

Furthermore, the tactics of HFT firms can distort market information, leading to accusations of market manipulation through their tactic of “Quote stuffing”.

“Quote stuffing” in essence is placing mass orders of trades and cancelling them last minute, with the intention of overwhelming competitors by having them process the orders and cancellations.

At its worst, this tactic caused the Dow Jones Industrial Average to fall by 1,000 points in a few minutes in 2010. However, these firms are necessary market liquidity providers, accounting for 50% of all equity trades in the United States as of the present.

Hence, social trading platforms such as this company, FollowTrade should have risk management features that can safeguard consumers such as stop limit orders for their own good.

My deep fascination with the intersection of finance and technology is my primary motivation for being in this space.

It led to me completing a certificate in Financial Technology at HarvardX, an online learning initiative by Harvard before matriculating. I learned about strategies like High Frequency Trading and intend to delve deeper.

My understanding of the industry’s intricacies, such as the tactics employed by HFT firms and the complexities of trading as a finance undergraduate has equipped me with a unique perspective.

This offers an unparalleled opportunity to further my knowledge and contribute to the dynamic fintech landscape. I am excited to apply my skills and passion to real-world research and look forward to the valuable experience this promises.

Most searched questions

What is copy trading?

Is copy trading legal?

Most searched queries

Exchange Traded Funds (ETFs)

High Frequency Trading (HFT)

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Edu Tech

Technology helps make this scholarship inclusive

Written by Vahani on Digilah (Tech Thought Leadership).

In 2014, when Reeva Misra, the Founder and Chairperson of Vahani Scholarship Trust, identified a gap between the transition from high school to college and the increasing number of college dropouts due to financial constraints, she recognized the need to establish a platform.

This platform aimed to provide equal opportunities to deserving students nationwide, in India, enabling them to pursue their dreams of studying in India’s top universities.

Vahani was conceived with a vision and mission to nurture future change-makers and create leaders.

The inaugural batch of scholars was selected in 2016, initially with offline applications that required physical submission. However, as the number of applicants steadily grew each year, so did the available seats.

To ensure accessibility to students across the country, an online application portal was introduced in 2019. Leveraging the “Digital India” initiative, this change resulted in a tenfold increase in applications from even the most remote areas.

Implementing the right technology not only expanded outreach but also streamlined the application review process, allowing for individual assessment by team members and efficient shortlisting for interview rounds.

The transition to an online system ensured that no applications were overlooked, and students received proper guidance on completing the forms.

In 2020, amidst the global battle against Covid-19, online platforms like Zoom and Google Meet played a crucial role. These digital connections helped maintain a sense of togetherness during the several months of lockdown.

Weekly group calls were held with mentors and scholars, and this time was utilised to enhance scholars’ skills. Interactive webinars and online skill training programs, covering topics such as CV building, IT tools like MS Office, English communication, and virtual internships, were introduced. Despite the challenges posed by the pandemic, the commitment to scholars’ growth and holistic development remained unwavering.

With scholars studying in prestigious universities across the country, enrolled at Delhi University, IITs, BITs, NID, NIFT, IIST, NLUs to name a few, Vahani ensures that all academic needs are met.

Financial support is managed and approved through the Scholars Online Portal, allowing scholars to request assistance based on their requirements. This portal fosters transparency and maintains comprehensive data for reference.

Notably, Vahani’s network extends beyond scholars to encompass mentors, English tutors, and volunteers from diverse parts of the world.

Technology has played a pivotal role in making the scholarship program accessible to students, creating a robust network of mentors and volunteers, facilitating training and skill development, providing opportunities for interaction with renowned leaders and speakers, managing scholar-related activities.

Most importantly, bringing the organization closer to its vision with transparency and an equal chance to all far and remote in any corner of Digital India.

Most searched questions

What is Vahani scholarship?

How to apply for Vahani scholarship?

Most searched queries

Vahani Scholarship

Digital India

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Categories
Edu Tech

Transforming Education through Tangible STEM Projects: The Story of Magicbit

Written by Migara Amithodhana on Digilah (Tech Thought Leadership).

Background

In the midst of Industry 4.0, technology has seamlessly integrated into every facet of our lives, reshaping our world at a rapid pace. Buzzwords like AI (Artificial Intelligence), IoT (Internet of Things), Cloud computing, AR (Augmented Reality), and VR (Virtual Reality) dominate conversations. 

The job landscape has undergone a tectonic shift, with roles that were unheard of in the early 2000s now in high demand.

This digital transformation has created an urgent need for “future-ready” skills in the upcoming workforce. Surprisingly, while technology takes center stage, the most sought-after skills for the future are not those associated with these cutting-edge technologies, but rather, skills such as innovation, critical thinking, and creativity. 

Developing technology innovation skills is paramount to preparing the next generation for an ever-evolving industry.

Problem & Solution

In today’s tech-dominated world, there’s a growing concern regarding the adverse impact of technology on children. Parents worldwide worry about issues like mobile phone addiction, excessive computer gaming, and technology dependency.

Numerous studies have illuminated the psychological issues stemming from technology overuse, with children aged 8-18 spending a staggering 6-9 hours a day on screens. This is where STEM education emerges as an innovative solution to enhance children’s innovation and creativity skills.

STEM, an acronym for Science, Technology, Engineering, and Mathematics, and STEAM when incorporating the Arts, is being adopted by educational systems in approximately 96 countries worldwide. STEM education introduces hands-on, experiential learning to teach these subjects effectively.

Combining STEM education with technology innovation is a focal point in many nations to nurture the future-ready skills of the next generation. Areas such as coding, robotics, AI, IoT, and electronics are being actively promoted among children.

Why Magicbit for STEM Innovations?

In 2019, against this backdrop, Magicbit was born. It was founded by Anuruddha Tennakoon, Migara Amithdhana, and Akalanka De Silva, three preprofessional engineers with over a decade of industry experience, who shared a passion for making technology innovation accessible to everyone.

Magicbit’s core mission is to create the next generation of problem solvers and change-makers.

Products and Services

Magicbit’s flagship product is the hexagonal-shaped Magicbit development board, which can be programmed to foster innovation in coding, robotics, IoT, and electronics. The product includes a hardware kit bundled with software and lessons, offering three main versions: Learner, Explorer, and Master.

Each kit differs in hardware features, with the Master kit said to have the most extensive range of activities and additional plug-and-play sensor modules compared to the Explorer kit.

Magicbit’s comprehensive lesson series, accessible via subscription, covers each of these areas with step-by-step guidance.

Unique Value Proposition

Magicbit products stand out with their plug-and-play modules and pre-loaded code, allowing users to see examples even before coding. This eliminates the need for soldering, wires, and breadboards, making innovation more accessible.

The feature-rich hardware provides versatility for various projects. Magicbit supports different coding options, from Scratch for young learners using block programming to Arduino and Python for beginners and seasoned innovators.

The platform even extends to the .NET Nano framework and magicblocks.io, a cloud-based IoT platform developed by the team. This versatility caters to learners of all levels and simplifies the teaching process for educational institutions.

Key Milestones

Magicbit made its debut as a crowdfunding project on Kickstarter, astonishingly getting funded within the first 4 hours and garnering a massive global response.

As of 2023, Magicbit boasts a user community spread across 40 countries worldwide, validating its universal appeal and functionality. 

The platform is also accredited by STEM.org in the USA as a certified STEM education product. In 2022, Magicbit was recognized as the best startup in Sri Lanka, earning a national award.

 

Next Steps

Education is continually evolving in tandem with technology, and Magicbit remains committed to integrating the best technologies into its innovation ecosystem. Plans are underway to integrate Artificial Intelligence (AI) into the platform.

The Magicbit team is also developing a Python-based robotics farm that can be remotely accessed from anywhere in the world, marking another stride toward accessibility and convenience.

Founder’s View and the Path Forward

As a founder, I am, driven by the desire to empower the next generation, not just as a social entrepreneur but also as a father of two. 

I believe in passing on the best knowledge to the next generation, addressing the accessibility gap that hampers technology adoption for a significant portion of the world’s population, including 1.3 billion children worldwide.

Given the pressing global issues of climate change, poverty, economic disparities, pollution, and energy crises, innovation is the key to survival while safeguarding the planet.

I believe that empowering future change-makers to find solutions to these real-world problems is crucial. This path, I envision, will lead to more effective solutions to achieve sustainability development goals (SDGs).

Hailing from a developing country like Sri Lanka and creating world-class products has been a challenging journey.

However, I firmly believe that this story can serve as an inspiration to all children and young entrepreneurs, demonstrating that we live in an era of limitless possibilities in our global village.

Innovation is the way forward, and the world needs smart farmers, doctors, lawyers, teachers, and more. It’s time for a paradigm shift in the traditional education system, embracing a modern, innovative approach.

Most searched questions

What is Magicbit?

How does Magicbit helps in transforming education?

Most searched queries

Magicbit

IoT (Internet of Things)

Robotics

AI

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Categories
Space Tech

Space Technology is High Tech

Written by : Science Centre Singapore on Digilah (Tech Thought Leadership)

Why is spacesuit technology important?

A spacesuit protects astronauts from those extreme temperatures. Spacesuits supply astronauts with oxygen to breathe while they are in the vacuum of space.

The suits contain water to drink during spacewalks. They protect astronauts from being injured from impacts of small bits of space dust.

Space Suit functions

Astronauts need to wear a spacesuit with various functions to protect themselves from numerous elements of the harsh environment, such as vacuum, heat and infrared radiation.

Space suits are one of the most technologically advanced pieces of equipment designed for humans. These suits allow astronauts to perform spacewalks and carry out various tasks in the harsh environment of space. 

Some high tech technologies go into creating a space suit.

Life Support Systems

The most critical component of a spacesuit is its life support system. It provides the astronaut with oxygen, regulates temperature, and removes carbon dioxide. This system is essential for survival in the vacuum of space where there is no air to breathe. 

Joint Mobility

The spacesuit’s mobility joints are specially designed to allow astronauts to move freely and perform various tasks in space. These joints are made of metal bellows that are flexible and allow for a full range of motion. 

Protective Layering

Spacesuits are made of multiple layers of materials to protect the astronaut from extreme temperatures, micrometeoroids, and other hazards in space.

The outer layer is made of a tough material like Nomex or Kevlar, while the inner layer is made of a soft material that is comfortable to wear and helps regulate temperature. 

Water Cooling and Ventilation System

Spacesuits are equipped with a complex water cooling and ventilation system that helps regulate the astronaut’s body temperature and keep them comfortable during spacewalks.

This system circulates water through tubes in the suit, which cools the body and removes excess heat, preventing overheating and fatigue. 

 

Internal fire extinguisher

Even though spacesuits are built to be fire resistant, spacesuits are equipped with a built-in fire extinguisher to ensure the safety of astronauts during spacewalks.

In the unlikely event of a fire inside the spacesuit, the fire extinguisher provides a safe and quick way to extinguish the flames and prevent further damage.

The use of a fire extinguisher in a spacesuit is a last resort measure and should only be used in extreme circumstances. 

Sinus pressure

Just like how we feel during a flight or while taking a fast elevator, astronauts will experience sinus pressure as well. 

While wearing the bulky suit during a spacewalk, astronauts have a special foam pad call a Valsalva device to aid them from the pressure build-up in their nasal passage and ears.

To perform the Valsalva maneuver while wearing a spacesuit, the astronaut must exhale against a closed glottis while keeping their mouth and nose closed.

This can be achieved by holding their breath and bearing down, as if they were trying to defecate or lift a heavy object. 

The space itch is real!

(This thought was first published on Science Centre Singapore Blog)

Most asked questions

What is a space suit?

What technology is used to develop space suits?

Most searched queries

Valsalva

Maneuver

Nasa 

ISRO

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Fin Tech

CFOTech: A new door in Fintech Industry

Written by Uluc Yigit Sener on Digilah (Tech Thought Leadership)

Fintech means “Financial Technology” and this industry tries to merge two concepts: Finance and Technology. The main purpose of this industry is to make financial transactions and the financial sector much faster and more practical.

Exciting new developments continue to happen in the fintech industry with each passing day. We can see how much this industry has developed and grown as new ideas are given a chance and investments in this direction increase.

According to the research, this growth is expected to continue increasing in the coming years. Over the last decade, the FinTech industry has experienced significant growth.

The global market was valued at around $7.3 trillion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 26.87 percent up to 2026, according to Research and Markets, on the back of increased investments in technology-based solutions, supportive government regulations and the rising adoption of internet of things devices, among other factors.

As a sub term of Fintech, “B2B” translates as business to business but the term is a broad one. It is a technology designed for other financial service providers. Specifically speaking, B2B fintech most often targets a company’s CFO.

So, it is mostly related to the “CFOTech” concept. Companies often deal with problems when financial plans and strategies are required. At this point, CFOTech tries to offer financial solutions to be more transparent, sustainable, and appropriate.

Like the whole Fintech industry, the CFOTech industry is also growing year by year. According to the latest research, the CFOTech market is going to be 25.2 billion dollars in 2026.

Chief Financial Officers (CFOs)are the most senior finance position of the organization, they oversee the finance department and often are considered a trusted advisor to the Chief Executive Officer (CEO).

Today, CFOs use advanced technology while working and it opens a new door in the fintech industry. Like our company, Vteam Consultancy, many of the companies use these innovative solutions and technology together. Our new venture, Plansas, provides sophisticated solutions with CFO technologies. Plansas is an automatized SaaS platform that specializes in tailored financial solutions for startups, VCs, investors, and growth-seeking companies.

While new start-up developments are taking place in the world every day, new artificial intelligence tools are being developed to closely follow the developments.

Even using and learning these AI tools is becoming a competition for companies and increasing technological transformation. In this age of digitalization, the more closely companies follow developments, the more agile they become.

Trying to be more agile leads to an increase in the use of FinTech. By leveraging technology to automate tasks, they can deliver the same solutions for a lower price compared to traditional services.

Since the fintech industry and its sub-industries receive more investment and gain more value day by day, it also continues to create value in the industries. As the spotlight continues to be on this industry, it looks like life will get easier in the future.

Most searched questions

What is FinTech?

Can we use AI in finance sector?

Most searched queries

Chief financial officer(CFO).

Plansas

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Categories
Food Tech

The new ingredient in Singapore’s signature dishes – Insects

Written by Science Centre Singapore on Digilah (Tech Thought Leadership)

Small beginning: Let one dish on your table be Insect protein or Lab meat. Insects could be a key contributor to ensuring future global food security, according to the United Nations’ Food and Agriculture Organization.

In many parts of the world bugs are already an established source of food.Food technology has made lab grown meat a possibility and along with the consumption of insect protein there is way to sustainable eating to feed the planet.

Imagine going to a popular hawker stall and you are served a plate of delicious fried bugs. Would you run or dig in? After years of saying ‘eww’ to insects, maybe it is time to look at insects from a new culinary perspective starting with our favourite local dishes.

With the looming presence of global warming and fear of food scarcity, insects might be our next big protein option.

There are several countries that are already enjoying insects as part of their diet and many more are slowly adopting this culinary trend.

According to Meticulous Research Inc., a US-based research company, the edible insect market is expected to hit $9.60 billion by 2030.

Why Are Insects the Protein Of The Future?

Some insects can provide high-quality protein and nutrients that are just as good as meat and fish. According to the United Nations’ Food and Agriculture Organization (FAO), insects are high in fatty acids, rich in fiber and have many helpful micronutrients like zinc, iron, and magnesium.

Additionally, consuming insects is better for the environment. Insects produce lower greenhouse gases and use less water compared to conventional livestock like cows and pigs.

 At the same time, insect farming requires less space and is not as land dependent as conventional farming.

Other than that, insects are also safer for humans to eat compared to cows and chickens. According to Arnold van Huis, a professor emeritus of tropical entomology at Wageningen University in the Netherlands, the taxonomy of insects is considered much further from humans than conventional livestock.

This means humans would not contract diseases from eating insects as opposed to eating cows and chickens.

The demand for edible insects is currently growing and now is the perfect time to introduce insects into our daily meals. We reimagined a five-course meal with popular local dishes to get the ball rolling for Singaporeans to start trying insects!

Some of Singapore’s signature dishes with the insects

Mealworm Youtiao Rojak

Let’s start our critter course with some savoury rojak. Instead of topping the rojak with chopped peanuts, we can use fried mealworms! Did you know mealworms can pair well with almost anything?

Mealworms are the larvae of the Darkling beetle. They are usually found in dark and dry places like flour or stored chicken feed. This versatile insect protein is known for its unobtrusive umami flavour. It has a light and nutty aftertaste which would pair perfectly with the sweet and tangy rojak sauce.

Satay Grasshoppers

Many have described the taste of grasshoppers as something similar to prawns and sometimes even chicken. The most popular grasshopper to cook with in Asia is rice grasshoppers.

Adult rice grasshoppers are usually no bigger than your pinkie finger. They are usually stir-fried and are enjoyed as a side dish in Asia. They can also be marinated to taste and roasted over burning coals like our favourite Lau Pa Sat order!

Char Kway Teow with Lemon Ants

Usually, we would want to keep ants out of our food, but these Lemon Ants are worth keeping around! Lemon Ants, also known as Myrmelachista schumanni, are found in the South Americanchi jungle.

These ants get their unique citrusy and somewhat spicy flavour from the tree they nest in, the Duroia hirsute.

The flavour of these ants would burst just into your mouth when you take a bite. This means you don’t have to add extra chili or trouble yourself by squeezing a calamansi all over your Char Kway Teow.

Chili Scorpions

It may come as a surprise, but scorpions taste like softshell crabs and lobsters! The main difference between crabs and scorpions is that the scorpion has a more earthy taste.

The best scorpion for cooking is the Black Scorpion, also known as Heterometrus longimanu. This scorpion can be found in Pulau Tekong so we can locally source scorpions for dinner!

It would be interesting to try the earthy flavoured scorpion paired with the spicy chili crab sauce we all know and love. Additionally, you do not have to worry about the scorpion’s venom as it becomes non-venomous after it is cooked.

Ondeh-Ondeh Cricket Cake

If you still struggle with eating insects, then this dessert will be a piece of cake for you to eat. The secret is cricket flour!

Cricket flour is made by grinding dried crickets into a powder. The most popular commercial species of cricket is the European House Cricket.

The flavour of this species can be influenced by its flavour – grain for a mild, nutty flavour or fruits and carrots for a hint of sweetness.

Not only will the sweet Ondeh-Ondeh cake be gluten-free, but it is also a great way to start introducing insects into our diet!

Don’t judge an insect based on its looks! They are good for you, good for the environment and might even be tastier than you think.

Read how Singapore makes its insects safe for eating https://www.sfa.gov.sg/food-information/risk-at-a-glance/insects

Most asked questions

Are dishes made with insects tasty?

Can insects provide sufficient protein?

Most asked queries

Insect protein

Scarcity

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Categories
Digi Tech Decision Making Tech

Innovating on a Budget: Exploring Cloud Cost Optimization for Agile Businesses

Written by Adora Nwodo on  Digilah (Tech Thought Leadership).

In today’s business landscape, staying competitive and driving technological innovation requires businesses to adapt quickly and optimize costs.

The cloud has revolutionized operations by offering advantages like scalable resources, operational efficiency, and global accessibility.

However, effectively leveraging cloud environments within budget limitations can be challenging, especially for agile businesses with limited financial resources.

This article provides multiple strategies for businesses to optimize their cloud costs. By implementing these strategies, businesses can encourage innovation, facilitate expansion, and achieve cost optimization.

To optimize cloud costs, businesses must first understand the cloud cost landscape. Infrastructure, compute resources, storage, networking, and additional services like databases, AI/ML, and analytics are typically part of cloud costs.

Cloud service providers offer different pricing models, including pay-as-you-go and reserved instances, each with its own cost implications. Businesses can make informed decisions and devise cost-cutting strategies by understanding these elements.

They can evaluate pricing options, customize resource usage, and balance innovation and cost optimization without sacrificing performance.

Cloud Cost Optimization Techniques

This section explores three cloud cost optimization techniques that businesses can use to reduce cloud costs and increase financial efficiency.

Rightsizing Cloud Resources for Efficiency

Businesses often struggle with the challenge of inefficiently provisioning cloud resources, leading to unnecessary expenses. To tackle this, rightsizing optimizes resource allocation to strike the right balance between performance and cost.

This involves closely monitoring resource usage and analyzing metrics such as CPU usage, memory utilization, and network traffic.

By understanding the connection between resource allocation and workload requirements, businesses can make informed decisions to ensure optimal performance.

Automation tools play a crucial role in the rightsizing process, enabling businesses to dynamically allocate or deallocate resources based on real-time demand.

These tools automate tasks like scheduling non-production resource start and stop times, allowing businesses to pay only for the actual hours of usage.

Adopting Cloud Cost Management Tools

Cloud service providers offer cost-management tools that enable businesses to effectively monitor, analyse, and control their cloud spending.

These tools provide insights into various aspects of cloud costs, helping businesses identify cost drivers, evaluate resource utilization, and track cost trends.

By leveraging the data provided by these tools, businesses can pinpoint areas where cost-cutting efforts can have the most impact and prioritize their cost-cutting strategies accordingly.

Cost management tools also enable businesses to track cost trends over time, offering historical cost data and visualizations of cost patterns and fluctuations.

This allows businesses to identify cost variations, seasonal patterns, and unexpected cost spikes, empowering them to proactively plan and optimize their cloud spending for better cost management.

Examples of cloud cost management tools include Densify, CloudZero, and Apptio Cloudability.

Leveraging Server less Architecture

Server less computing has transformed cloud cost optimization by shifting from infrastructure management to code execution. 

This change eliminates the need for continuous provisioning, management, and scaling of server resources, resulting in significant cost savings.

The pay-per-use pricing model of server less platforms ensures businesses only pay for the resources consumed during function execution, eliminating idle capacity and wasteful spending. 

Additionally, server less architectures enable agile businesses to accelerate application development and deployment. 

With modular server less functions, developers can focus on specific features or functions, leading to shorter development cycles and a faster time-to-market. 

This agility allows businesses to seize opportunities and drive innovation while staying within budget constraints.

Conclusion

Innovating on a budget is a challenge that many agile businesses face.  These businesses, however, can achieve a delicate balance between innovation and financial caution by investigating cloud cost optimization solutions.

Understanding the cloud cost landscape, rightsizing resources, adopting cost management tools, and leveraging server less computing can help drive innovation while controlling expenses.

Most searched questions

What is cloud computing?

What are the cloud tools which can be used to reduce the cloud costs?

Most searched queries

Cloud services

Cloud resources.

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Categories
HR Tech AI Tech

From Science Fiction to Talent Reality – How Tech, AI, and Cutting Edge Recruitment Collide

Written by Dipansh Bhatt on Digilah (Tech Thought Leadership)

The advent of technology and artificial intelligence (AI) has revolutionized numerous industries, and recruitment is no exception.

 

With the help of advanced tools and algorithms, recruiters have found new ways to streamline their processes and identify the best-fit candidates efficiently.

However, as with any technological advancement, there are potential pitfalls to consider. 

In this thought leadership article, we will explore how tech and AI have made life easier for recruiters, while also discussing the precautions they need to take.

We’ll walkthrough the importance of Talent Intelligence (TI) and how it can shape the future of recruitment.

Streamlining Recruitment Processes:

Technology and AI have significantly enhanced the recruitment process, one are the days of manually sifting through stacks of resumes and conducting countless interviews.

AI-powered algorithms can now analyze large volumes of applicant data and shortlist candidates who possess the desired qualifications and skills.

Automated resume screening tools have emerged as a game-changer, allowing recruiters to filter applications based on specific keywords and qualifications.

This helps save valuable time and resources, allowing recruiters to focus on engaging with high-potential candidates. 

Additionally, AI-powered chatbots and virtual assistants have simplified candidate interactions by providing quick responses and handling basic queries, enhancing the overall candidate experience.

However, it is essential for recruiters to approach these advancements with caution as discussed below. Engagement remains just as important.

 

Potential Pitfalls and Precautions:

While technology and AI have undeniable benefits, there are potential risks that recruiters must be mindful of. One significant concern is the potential for algorithmic bias.

Some algorithms are trained using historical data, which may inadvertently incorporate biased hiring practices or prejudices. This can result in unfair outcomes, perpetuating existing inequalities.

Recruiters must be vigilant in reviewing and auditing the data used to train algorithms to prevent bias and ensure fair and inclusive hiring practices.

Another challenge is the loss of personal connection, undermining the human touch. While automation speeds up the process, it can also lead to a lack of human interaction, making candidates feel detached and unimportant.

Recruiters need to strike a balance by incorporating personalized communication and leveraging technology as a tool to enhance, not replace, human interaction.

Maintaining data privacy and security is yet another critical concern. With the vast amounts of personal and sensitive information being collected during the recruitment process, it is essential to implement robust data protection measures.

Recruiters must ensure compliance with relevant data protection regulations and invest in secure systems to safeguard applicant data.

Solutions and the Way Forward:

To address these potential pitfalls, recruiters should prioritize ethical AI practices. This involves regularly auditing algorithms for bias, fostering diversity within recruitment teams, and involving human oversight in decision-making processes.

Transparency is key, and candidates should be informed about the use of AI and the criteria it evaluates.

Recruiters should also invest in training and upskilling their teams to effectively utilize AI tools and strike the right balance between automation and human touch.

By combining the efficiency of AI with the empathetic skills of recruiters, a powerful synergy can be achieved, ultimately enhancing the candidate experience.

Boiled down to its core, recruitment is very similar to a sales function, selling the job to candidates and selling candidates to your hiring managers.

An example of something I’ve done myself to utilise AI in sales – when facing writer’s block or a lack of great idea, tools like ChatGPT or Copy.ai work well to help structure your engagement.

Not to say you should copy and paste these templates but rather use them as a skeleton for your own customized correspondence.

 We’ve seen a decrease in time taken to follow up and at the same time, a decrease in response times as well!

When utilized correctly, talent intelligence emerges as the way forward. It involves harnessing the power of data and AI to gain insights into candidate behaviour, preferences, and skillsets.

By leveraging talent intelligence, recruiters can make more informed decisions, tailor their recruitment strategies, and build stronger talent pipelines.

Technology and AI have undoubtedly made recruitment processes more efficient, enabling recruiters to focus on higher-value tasks. 

However, caution is necessary to mitigate potential pitfalls such as bias and loss of personal connection.

By prioritizing ethical practices and embracing talent intelligence, recruiters can leverage technology to create a more inclusive and effective recruitment landscape.

Solutions like Vita’s Talent Intelligence CRM do exactly this.

As a quick introduction, Vita’s TI helps reactivate past applicants for current hiring, identifying relevant talent from within your database and guiding engagement, within seconds. 

Not only does this streamline sourcing, reducing candidate acquisition costs, this can also be applied to screening active applicants!

Larger enterprises get hundreds of applicants per role and it’s a hassle narrowing this list down and sieving out irrelevant profiles.

Learn how to cross-reference candidates across positions as well to ensure candidates are matched to roles that suit them best, moving away from a candidate to job match but more of a candidate to company match! Get in touch to explore or check us out!

Most asked questions

Can AI be used to recruit humans?

What is an algorithm?

Most asked queries

Algorithm

ChatGPT

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AI Tech

The Magic Tricks of our Common Future! Quantum Computing

Written by Marcus Parade on Digilah (Tech Thought Leadership)

Picture this: You’re a magician on a stage. You place a rabbit in a hat, and suddenly, with a flick of your hand, there’s not 1 rabbit, but 2! Now, imagine if you could do that with your computer – making it not only do one calculation, but millions at the same time. Welcome to the mystical world of quantum computing (QC)! 🐇⚡🐇

The Quantum Mystery:

In our everyday world, things seem pretty straightforward. Your cup of coffee sits on your desk and not floating in the air, right? Things exist in one place at a time, and we’re used to that. But in the quantum reality, things get a bit… wacky. Here, particles can exist in multiple places at the same time!

How is that even possible, you may ask? Well, buckle up, because we’re about to dive together into the crazy world of quantum physics!

🎪 The Deep Atomic Circus – A Magician’s Best Friend:

Quantum mechanics deals with the universe’s tiniest particles: Atoms, electrons, and even quarks. In this microscopic circus, the rules of the game are different from the world we know. Just like how a regular computer uses bits (either a 0 or a 1) to perform calculations, a quantum computer uses quantum bits.

A qubit can be a 0, a 1, or both at the same time! This peculiar principle known as superposition.

Imagine you’re playing a game of hide and seek. In our regular world, you’re either hiding or seeking. But in the quantum world, you could be both hiding and seeking at the same time! That’s superposition for you. It’s as if the quantum particles are the ultimate multi-taskers!

I know it is still confusing – let me give you one more example

🔴 Imagine we have a coin. When you flip it, it can either land heads up or tails up. But while it’s in the air, before you see the result, it can be thought of as being both heads and tails at the same time, because we don’t know the outcome until it lands.

Superposition in quantum physics is somewhat like that, but much more complex. It’s the idea that a particle, like an electron or a photon, can exist in multiple states at once.

For example, an electron in a quantum superposition could be both spinning clockwise and counter clockwise at the same time, or a photon could be in multiple places at once.

💡 Some QC already today claim to be a trillion times faster than a standard supercomputer of today. This means in turn a QC can do calculations in less than 1 minute for which our supercomputer needs 10,000 years to finish it.

Quantum Entanglement: The Ultimate Magic Trick

Another trick up the QC’s magic sleeve is a phenomenon called entanglement. If two quantum particles become entangled, they become like a pair of magical twins. Change the state of one, and the other changes automatically, no matter how far apart they are!

Imagine if you had a pair of entangled dice. You roll one in New York and the other in London. No matter what, they always show the same number. That’s quantum entanglement, and it’s one of the key ingredients in the QC “soup”. 🍜

🌤🌻 Our Quantum Leap into our Future:

QC is still in its early stages, but the possibilities are and will be simply amazing.

When the software of artificial intelligence and the hardware of quantum computers become best friends eventually, one scientist said: “Watch out!”. While this can be interpreted in at least two ways, let’s be curious and investigate the positive aspects, while at the same time watching out.

🐇 🎩 🐇 So, the next time you see a magician pull 1 rabbit out of a hat and then 2, remember that in the world of QC, doing many amazing things at once is just the new normal. Welcome to the future of computers, where everything seems like magic with endless possibilities!

If you find this article somewhat inspiring, please place a like or a  comment.

Love, Marcus

Most asked questions

What is quantum computing?

What is superposition?

Most asked queries

Quantum physics

Superposition

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AI Tech

Do you believe that AI will eventually replace humans altogether?

Written by : Shweta (SOHAM) R on Digilah (Tech Thought Leadership)

Let’s try to understand the term first:

💡What Is Artificial Intelligence?

Artificial Intelligence is a new and exciting field that is quickly gaining popularity. It is a method of making a computer, a computer-controlled robot, or a software think intelligently like the human mind. AI is accomplished by studying the patterns of the human brain and by analyzing the cognitive process. 

It can be considered a tool to assist us to rise above our circumstances.

Before getting threatened and believing in speculations take a moment and register this, AI is a replica we have created to make our lives better.

It is made of code not cells!

Having said that, we must strive for creative sense because it’s just the beginning, we have only touched the surface of what Artificial Intelligence can accomplish. Our thinking capabilities and problem solving abilities are endless.

💡The four A.I. types are:

🧩Reactive Machines

🧩Limited Memory

🧩Theory of Mind(Exits only in theory)

🧩Self Aware(Exits only in theory)

We are currently well past the first type and actively perfecting the second. At the moment, the third and fourth types exist only in theory. 

Most of the recent or past developments are data driven. I am looking forward to the theory of mind and self care developments because their AI will have to deal with thoughts and emotions.

How on earth a machine is going to handle that?? 

According to Forbes AI is expected to see an annual growth rate of 37.3% from 2023 to 2030. AI continues to revolutionize various industries, with an expected annual growth rate of 37.3% between 2023 and 2030, as reported by Grand View Research. This rapid growth emphasizes the increasing impact of AI technologies in the coming years.

A quarter of companies are adopting AI because of labor shortages as labor shortages become a pressing concern, 25% of companies are turning to AI adoption to address this issue, according to an IBM report. AI helps businesses optimize operations and compensate for the lack of human resources.

Software engineers and data engineers are being recruited for AI support

As AI becomes more integrated into businesses, there is a growing demand for AI support roles. In 2022, 39% of businesses reported hiring software engineers, and 35% hired data engineers for AI-related positions, according to a McKinsey report.

97% of business owners believe ChatGPT will help their business

According to Forbes Advisor, a staggering 97% of business owners believe that ChatGPT will benefit their businesses. One in three businesses plan to use ChatGPT to create website content, while 44% aim to generate content in multiple languages. More than half believe AI will improve written content. 

Over half of respondents, 54%, believe that AI can improve written content, suggesting that AI-driven solutions such as ChatGPT have the potential to enhance text quality, creativity and efficiency in various content creation contexts.

💡What can we do to adapt the process?

In the emergence of AI technology, we may need to accept and reassess ourselves. We will need to be equipped skills-wise and knowledge-wise on how to handle and prosper in a world that is continuously changing and improving as days move on.

Conclusively, I will say it is important to get the hang of AI but again try to acquire a balance while you are turning into a robot with AI advancements to keep your natural stupidity alive to be creative. YES, AI is the present, but will it be the future?!

That’s a question mark for me, I believe quantum computing will take over.

Most asked questions

What are the pros and cons of AI?

 Can AI take over the world?

 

Most searched queries

Generative AI 

Machine learning

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AI Tech

Redefining Computing, The Quantum Revolution – A New Era Changing Our World

Written by Marcus Parade on Digilah (Tech Thought Leadership)

Envision yourself reading a book in a library in London while simultaneously sipping coffee at a Parisian café. Unbelievable, right? But with the marvels of quantum computing (QC), this simultaneous presence becomes a metaphorical reality!

Our current computers, in comparison, are like paddleboats trying to keep up with supersonic jets. Welcome to the future of computing, where impossibilities become possibilities.

Regular computers use “bits” like tiny on/off switches to do math. “On” is 1 and “off” is 0. By using many bits of these, our computer can solve many challenges.

QC are COMPLETELY different. Instead of bits, it uses qubits. It’s like comparing a candle to a light bulb – similar goals, but yet very very different.

This is a quantum computer (QC). Just like many inventions we’ve seen in our life before, these machines will get smaller and smaller over time. Also, there are already many different ways to build a quantum computer today.

Qubits are unique because they can be both on and off simultaneously. This strange thing happens because of quantum physics, which is the science that explains how super small things like atoms interact together.

😲 So, a qubit can be a 1, a 0, or both at the same time! This amazing state is named “Superposition” 😉💘. When we have many qubits, they can perform lots of math tasks all at once.

⚡ A QC is today about 158 million times faster than our most sophisticated supercomputer. Some have claimed to have reached even over about a trillion (1,000,158,000,000) times being faster.

Its computing is so powerful, that it could do calculations in at least just 4 minutes what it would take our supercomputer 10,000 years to accomplish.

Nobody in our world knows why these atomic realities exist, but we know that they exist. 💦 Similar as with water. We don’t know why water really exists, BUT we can use it to our advantage and insights … 🌞

So, as I think you and me are doing quite fine with using standard computers, what can these QC be used for our common good?

🔥 Artificial Intelligence (AI): Many scientists believe that quantum computing will be used to accelerate machine learning – a major component of AI.

💊 Drug Discovery: QC will help the pharma industry to discover new drugs or analyse different combinations of molecules interacting for drug effectiveness. Finding the best vaccines could be much much faster.

💡 Finding the Best Answers: Sometimes, we face a challenge with so many possible solutions that it’s hard to find the best one. Such as with logistics, banking and so many more challenges we all face, QC can help us find the best solution much quicker.

🌞 Forecasting: Weather and climate change predictions will become more precise and perhaps even the stock market could become more predictable 😁📈

🕵 Secret Codes: QC will be really good at solving tough codes or making new ones that are almost impossible to crack.

Much like art 🎨, QC invites us to see the world in a whole new light, offering completely new perspectives. It will create new interpretations of our reality and finding new wisdoms for a better sustainable world. 

🚀 Think of QC as a fleet of futuristic rocket ships. Companies and countries are in a race to have the fastest one. But having the fastest rocket shouldn’t be the only goal.

We need to pilot these rockets with care, respect the space laws of ethics, share insights and aim for a galaxy where we all thrive, and our planet is preserved.

So, rather than just trying to out-zoom each other in the space race, let’s exchange star maps, share cosmic insights, and brainstorm better pathways to the stars.

By doing so, we can ensure a better journey for all humankind in this vast universe of possibilities.

💛🌹🌞

𝐈 𝐡𝐨𝐩𝐞 𝐯𝐞𝐫𝐲 much you find my article somewhat inspiring – if – you would make me certainly happy to place a Like 👍 or so? 🌞

Love, Marcus

Most asked questions

What is quantum computing?

Will quantum computers be faster than supercomputers?

Most asked queries

Quantum

Supercomputer

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Web 3.0 Tech Law Tech

Pixels to Possibilities: Unravelling India’s Gaming Odyssey

Written by : Ankita Sambyal on Digilah (Tech Thought Leadership

Who isn’t fond of video games? From teens to adults, isn’t it? Some play video games as a source of living or to relieve stress. 

The genesis of video games dates back to their early development when a human being used to interact with a massive video device and an analog remote to give commands to the machine to move a pixelated character. 

The earliest recorded U.S. video game patent dates back to 1948, known as the ‘Cathode-ray tube Amusement Device.’ Some of the earliest video game examples include the Nimrod Computer, a massive machine weighing over a ton, as well as Oxo (1952), Tennis for Two (1958), and Spacewar (1961). 

However, these early video games were not available for public purchase due to their immense size and high costs.

The evolution in video game technology has witnessed the progression from classic games like Mario to multiplayer gaming and now to the concept of metaverse gaming.

 Ralph Baer, the Father of Video Games, played a significant role in advancing the Gaming Industry.

In 1967, he invented the prototype called the ‘T.V. Game Unit #1,’ followed by other inventions like the ‘Brown Box Light Gun’ and the ‘Pump Unit’ in 1967-68. In 1972, Baer introduced the Video Game Console named “Odyssey.” 

The Global gaming industry experienced substantial growth, with a valuation of USD 231.34 billion in 2022 and a projected value of USD 353.35 billion over the next five years. 

The year 2023 shows promising developments, including the introduction of generative AI support that simplifies gaming development and increased investments in the metaverse.

In contrast, the Indian gaming industry was valued at USD 2.8 billion in 2022 and is expected to reach USD 5.0 billion by 2025.

Considering the exponential growth of the gaming industry, it becomes crucial to establish and enforce regulations to protect the interests of players. 

These regulations should focus on promoting fair play, ensuring player safety, safeguarding minors, protecting intellectual property rights, and preserving the confidentiality of data and sensitive personal information of gamers.

 Additionally, such regulations should consider the financial interests of both the gaming industry and the players.

“Most Parliamentarians don’t have a clue as regards the challenges or the opportunities the games industry faces” – David Puttnam

A videogame can be classified on the basis of mode: – 

    1. Online Games

    1. Offline Games. 

Further, Online and Offline Games can further be classified on the basis of interaction: – 

    1. Game of Skill

    1. Game of Chance.

    1. A Mixture of Game of Skill and Chance.

On 6th April 2023, the Ministry of Electronics and Information Technology of India proposed Amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, which gives a comprehensive framework for Online Gaming Ecosystem, however, these amendments still fail to address the vital connotations of the Gaming Industry. 

Although, the endeavour has been made through implementing these Amendments to define and explain the terms like “Online Game” (Sec. 2(qa)), “Online Gaming Intermediary”(Sec. 2(qb)), and “Online Real Money Game” (Sec. 2(qd)), however, the definitions and explanations are not comprehensive enough, and there is still a significant gap in the interpretation of these terminologies to fit in the practicality of today’s gaming that we are witnessing in and around.

In 2020, the Federation of Indian Chambers of Commerce and Industry (FICCI) in partnering with Ernst & Young (EY), released a report stating that USD 817 million has been garnered by the Indian Online Gaming Industry, which involved real-money transactions which depicts that 71% of Indian players are involved with ‘Online Real Money Gaming’. 

Therefore, Regulators need to take a nuanced approach while defining online games and should consider different examples and illustrations to help clarify the distinction between games of skill and games of chance.

    • In situations where monetary transactions are involved in an online game (skill-based or chance-based), it is crucial to adopt a risk-based approach and enforce mandatory KYC verifications for the players utilizing that platform. Additionally, the platform should implement restrictions on financial transactions based on spending limits to ensure responsible and controlled monetary involvement.

    • The legislative amendment should provide clear and detailed explanation of fraudulent activities, that occur in the virtual realm, including services that hijack gaming accounts, theft of virtual identities, fraudulent manipulation of in-game items, cheating and hacking through the use of bots, deceptive game modification, Phony Game Currency Sellers, etc.

    • The legislative amendment should provide detailed and clear distinction of gaming intermediaries and their roles involved in the virtual realm such as online gaming platforms, game developers, publishers, marketplaces etc. along with their roles and responsibilities such as hosting game servers, game distributors, facilitating communication among players, offering customer support etc.

    • The gaming platforms must be legally obligated to provide clear and explicit information on their websites regarding the nature of the game mode in which the player is engaging, distinguishing it is primarily based on skill, chance or a combination of both. By doing so, they will ensure transparency, promote user awareness, and facilitate a fair gameplay environment in compliance with legal requirements.

“The people are pieces of software called avatars. They are the audio-visual bodies that people use to communicate with each other in the metaverse.” – Neal Stephenson

As we have transitioned from traditional gaming to more immersive and interactive experiences facilitated by VR Headsets, we may also witness the emergence of evolved forms of criminal activities in this virtual space. 

Some Countries like Hong Kong are policing the Metaverse to design ‘user safety’ and to educate the public about the potential dangers associated with Web 3.0 and the Metaverse. 

In conclusion, it is imperative for India, which is having a base of 421 million of online gamers and is likely to reach over 442 million by the end of 2023, needs to take a thorough revamp of its gaming regulations to encompass games such as Blockchain-based gaming, Metaverse Gaming. 

By proactively, embracing and regulating these advancements, can help protect consumers, prevent problems of gambling, and ensure a fair and level playing field for all participants that can help India to position itself as a leader in effectively overseeing the Gaming Industry. 

This strategic approach will ensure that India remains competitive and doesn’t lag behind in effectively policing the dynamic and evolving gaming landscape. 

Most asked questions

What is the current size of the gaming industry?

What are the job opportunities in the gaming industry?

Most searched queries

Fastest growing gaming company

Mobile gamers in India

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Mar Tech Ad Tech

How MarTech and AdTech have transformed the Market

Written by Sumesh Raghwani on Digilah (Tech Thought Leadership)

However, a majority of people don’t understand the major differences between the two. While they are both closely related to each other, they perform very different functions.

So, we can deep dive into the topics to understand them better:

What is MarTech?

MarTech refers to “Marketing Technology”

The technologies that are used to execute a comprehensive digital marketing plan.

All the technology used from the point of lead capture throughout the sales funnel until the conversion is considered MarTech.

MarTech spending is only going to rise in the future.

There are more than 8,000 tools that populate the MarTech landscape, and this number is only expected to grow in the future.

That’s not all 60% of marketing experts have stated that they expect MarTech to grow even more soon.

This can include the following technology tools:

  • Email marketing tools
  • Lead magnets
  • Digital marketing analytics tools
  • Customer data platforms
  • Social media management tools
  • Marketing automation programs
  • Content marketing tools
  • CRM software
  • Web analytics tools

MarTech-specific tools are designed to help businesses understand their audience in a better manner. For example, if you publish a blog on your platform, you can use an analytics tool to determine the number of conversions that it generates.

Real-life examples of MarTech:

  • Mixpanel is a commonly used business analytics tool that tracks user interactions with a product. It allows users to analyze data such as sign-ups and conversions and help them track the effectiveness of different marketing campaigns.
  • Buffer is a social media management tool that allows businesses to offer better support to their customers through social media channels. It is a marketing tool that helps businesses understand the needs of their customers better and tailor their products accordingly.

What is AdTech?

AdTech refers to “Advertising Technology”

The technologies that allow for programmatic ad buying and digital spending.

Tech advertising primarily focuses on demand-side and supply-side platforms and ad exchanges.

With the help of advertising technology, companies can focus on a targeted audience.

This helps save a great deal of money and improves returns on advertising spend. The cost of consumer acquisition also dips sharply.

Needless to say, AdTech can help companies maximize the returns from their advertising spending by focusing on audiences that are interested in buying their product.

AdTech primarily measures the effectiveness of every campaign. Ultimately, this helps marketers get the best bang for their money.

Examples of AdTech include:

  • Data management platforms
  • Ad exchanges
  • Ad servers
  • Programmatic advertising tools
  • Tag managers

The Adobe Advertising Cloud is an example of a tool that’s used commonly in AdTech.

The two major platforms that play an integral role in AdTech are demand-side platforms and supply-side platforms.

So, what are Demand-side platforms and supply-side platforms?

Demand-Side Platforms

A demand-side platform is a digital platform, or a software program used by advertisers to purchase ads from a centralized marketplace.

Google Ads is a primary example of a demand-side platform.

Why they are important: Demand-side platforms remove the human element from the equation, thus making the process cheaper and much more efficient.

Supply-Side Platforms

A supply-side platform is a software program that allows publishers to sell their ad inventory.

The underlying technology beneath demand-side and supply-side platforms is the same. Whereas advertisers use demand-side platforms to purchase cheap ads, supply-side platforms use supply-side platforms to maximize the price for their impressions.

Common examples of supply-side platforms include Google, OpenX, AppNexus, and AOL.

Why Are They Important: Publishers actively avoid negotiating with human ad buyers for their media prices. Instead, they prefer using technology to buy ads more efficiently. A supply-side platform helps maintain a balance and allows publishers to effectively manage their relationships with several buyers.

Popular Examples of AdTech:

  1. Tapad is a simple tracking tool that assigns a unique digital ID to each user and then tracks their activity on multiple devices.
  2. Undertone helps its customers design advertising campaigns over multiple platforms. The company focuses primarily on mobile advertising.

AdTech primarily focuses on the use of programs and tools that can be used to analyze buyer behavior, evaluate the performance of ad campaigns, and improve them.

Conclusion:

So, now we have learned both MarTech and AdTech technology tools play a crucial role in the business.

Businesses are increasingly looking at different ways by which they can employ both AdTech and MarTech to segment their audiences in a better manner, which ultimately results in better value for the business.

Synergistic gains between the two will only help businesses in the long run.

In the future, we will probably see MarTech, a mixture of both MarTech and AdTech platforms deployed together to create a bigger impact on advertising and marketing techniques.

Most asked questions

What is the difference between AdTech and MarTech?

What software tools can be used to track user records in sales?

Most searched queries

Advertising

Marketing

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Decision Making Tech

Research, Technology, and right decisions

Written by : Sumesh Raghwani on Digilah (Tech Thought Leadership)

Research and technology have had numerous benefits for society across various fields and aspects of life. Here are some keyways in which research and technology have positively impacted mankind:

 

    1. Improved Communication: Technological advancements such as the internet, mobile phones, and social media have revolutionized communication. People can now connect and communicate with each other globally in real time, enabling the exchange of information, ideas, and knowledge on a scale never seen before. This has facilitated collaboration, enhanced education, and fostered a sense of global community.

 

    • Healthcare Advancements: Research and technology have greatly improved healthcare outcomes. Medical research has led to the development of life-saving treatments, vaccines, and diagnostic tools. Advanced medical devices and imaging technologies have enabled early detection and precise treatment of diseases. Telemedicine has made healthcare more accessible, particularly for those in remote areas. Overall, research and technology have contributed to increased life expectancy and improved quality of life.

 

    • Enhancing Education: Technology has transformed the way we learn and access information. Online education platforms, digital libraries, and interactive educational tools have made learning more accessible and engaging. Students can access a wealth of knowledge and resources from anywhere, allowing for personalized and self-paced learning. Additionally, educational research has helped in developing effective teaching methodologies and curriculum enhancements.

 

    • Economic Growth: Technological advancements drive economic growth by fostering innovation and creating new industries and job opportunities. Research and development (R&D) initiatives lead to the discovery of new products, processes, and technologies, stimulating economic activity. Industries such as information technology, biotechnology, and renewable energy have emerged as a result of research and technological advancements, contributing to job creation and economic prosperity.

 

    • Environmental Sustainability: Research and technology have played a crucial role in addressing environmental challenges. Advancements in renewable energy technologies, such as solar and wind power, have helped reduce reliance on fossil fuels and mitigate climate change. Sustainable agricultural practices and efficient waste management systems have been developed through research, leading to more eco-friendly practices. Furthermore, scientific research has provided valuable insights into environmental conservation and biodiversity preservation.

 

    • Increased Accessibility and Inclusion: Technology has made significant strides in improving accessibility and inclusivity for individuals with disabilities. Assistive technologies, such as screen readers and mobility aids, have empowered people with disabilities to participate more fully in society. Moreover, research and technological innovations have led to the development of universal design principles that benefit everyone, regardless of their abilities.

 

    • Enhanced Transportation and Infrastructure: Research and technology have transformed transportation systems, making them safer, more efficient, and environmentally friendly. The development of electric vehicles, autonomous driving technologies, and high-speed rail systems has improved transportation options while reducing carbon emissions. Smart infrastructure, including intelligent transportation systems and sensor networks, has enhanced traffic management and optimized resource utilization.

These are just a few examples of how research and technology have benefited society. The continuous progress in these areas holds the potential for further positive impacts, addressing emerging challenges and improving the overall well-being of individuals and communities.

This research has also led to advancements in language understanding allowing me to grasp nuances, idioms, and specific domain knowledge more effectively.
Overall, the research and technology journey has been transformative to me, improving my performance, efficiency, user experience. As the journey continues, I look forward to further advancements that will enable me to continuously improve and adapt to better serve the needs.

Most asked questions

What is the role of research and technology in society?

Can R&D really work towards development of a country?

Most searched queries

Sustainability

Telemedicine

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Mar Tech Web 3.0 Tech

EMB Gaming

Written by : Saurabh Bhatia on Digilah (Tech Thought Leadership)

Gaming is booming and is expected to keep growing as per World Economic Forum.

Exploding Gaming Industry in India

The gaming industry in India is experiencing explosive growth, expanding at an annual rate of approximately 38%. India is second only to China in terms of growth, with the industry projected to grow four-fold by 2027 and create at least 100,000 jobs each year. While the global gaming revenue is expected to expand at a CAGR of 9.64%, India is on track to grow at an impressive CAGR of 16.22%. The transformation from a simple pastime to a thriving business is nothing short of remarkable.

Challenges and Opportunities

Despite the rapid and lucrative growth of the gaming industry, the constant technological advancements make staying relevant a considerable challenge. Out of the 1000+ game development studios and agencies, only a few are keeping pace with the industry’s evolution.

Expand My Business: A Pioneer in Indian Gaming

Gurgaon-based Series-A funded tech service start-up, Expand My Business (EMB), is one such trailblazer in the Indian gaming industry. Our Game Development vertical is making an impact worldwide. EMB specializes in providing consultation and delivering cutting-edge tech and digital services across domains, positioning itself as the most proficient solution provider.

In just a year, EMB’s gaming division has become a significant contributor internally and has positively impacted its clients’ success. A clear distinction between iGaming and Core Game Development & Gamification has enabled them to penetrate gaming, e-sports, casual and hyper-casual gaming, and AR-VR-based games. The company has delivered more than 30+ game solutions across domains and tech stacks in FY 22-23, aiming to increase project volume tenfold in the current FY as they continue adding new gaming micro-level services to their arsenal.

EMB’s USP

Diversified Expertise and Innovation

EMB, the technical facilitator behind India’s digital gaming solutions, has strengthened its expertise in fantasy and digital card & board games. Making headlines for service expansion in niche domains like blockchain-based gaming, cloud-based gaming, immersive gaming, NFT-enabled gaming, and immersive gaming experiences.

Comprehensive Game Development Services

Not only is Expand My Business a one-stop solution for game development, but it is also an ideal destination for game design and strategic partnerships. The company fosters growth by cultivating high-revenue games and excels in:

Research

·       Guiding game development through studies and information gathering

Design

·       Storyboarding & Storytelling

·       Game Art & Animation

·       Concept Art

·       Casual Art

·       3D Assets

·       2D-3D Animation

·       UX/UI

·       Motion Design

·       Game VFX Services

Audio Production

·       Music & Audio Production

·       Sound Effects

·       Scores

·       Audio Assets

Deployment

·       Game Testing & QA

·       TRC Game Certification

·       Game Porting Services

·       Full Post Production Services

Marketing Services

·       Social Media

·       Digital Advertising

·       Influencer Marketing

·       PR

·       Content Marketing

Full-Game Development

·       Complete the game development process, start to finish

·       A final roadmap cycle

Resource Augmentation

·       Hiring additional resources as needed (artists, developers, designers, testers)

·       3D/2D Artists and Designers

·       Game Developers

·       Game Testers, QA

Legal Services

·       Intellectual property protection

·       Licensing and distribution agreements

·       Compliance with local and international regulations

·       Privacy policies

·       Contract drafting and negotiation

·       Dispute resolution

Future vision

To be a significant contributor to India’s GDP which is fueled by the gaming industry’s extraordinary growth and the comprehensive array of services offered and create a global gaming footprint.

As the world marvels at the gaming industry’s unparalleled growth, choosing the right tech and consulting partner is crucial.

Most asked questions

Which is the trendiest online game?

What is world economic forum?

Most searched queries

Augmentation

GDP

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