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Climate Tech

Eye on Science: Tech-ing Solar Power Generation To The Next Level

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

Reference image of Singaporeโ€™s largest solar farm

With the effects of climate change worsening by the day, scientists around the world are venturing into the world of renewables in search of a better alternative for producing clean energy.

Many countries are turning toward the use of solar energy as it is one of the cleanest and most sustainable forms of alternative energy.

For instance, Singapore has built one of the largest floating solar farms in the world to reduce its reliance on natural gas for the production of electricity. 

That being so, researchers have now extended their study of generating solar power not only from the Earth but also in space!

Reference image of a Solar Power Station in Space

The concept of capturing solar power from space and then transferring it to Earth was first introduced in the 1920s by a scientist named Konstantin Tsiolkovsky.

 Now, scientists are bringing this concept to reality by developing a new form of cutting-edge technology known as the space-based solar power station (SSP). An SSP works the same way as it does on Earth, except that it floats in space. 

The solar power station collects energy from the sun using large sheets of metal known as solar panels. Each solar panel is made up of combining multiple photovoltaic cells, also known as solar cells.

Solar cells are the key component in a solar panel that helps to create an electric current when it comes into contact with sunlight. For energy to be utilised on Earth in the form of electricity, solar panels in space have to transmit the collected solar energy back to earth through radio waves.

Why Build A Solar Power Station in Space?

Today, solar power plants can be found in many countries like India, China and the US. Each solar plant consists of millions of solar panels which can help generate electricity for as many as 200,000 homes.

 However, solar plants on Earth can only function during the day to produce energy, when there is sunlight. Their ability to effectively capture sunlight also depends on environmental factors like weather, cloud cover, air pollutants and dust. 

Unlike on Earth, solar panels in space can be directly exposed to more powerful sunlight at all times of the day. It is estimated that solar panels in space can generate up to 2,000 gigawatts of power constantly. 

This is nearly 40 times more energy than a solar panel would generate on Earth. With such potential, space-based solar stations can undoubtedly help offset the rate of carbon emissions produced through the burning of non-renewables like fossil fuels. 

Challenges to Building A Solar Power Station in Space

Although deemed more functional and effective, there are some challenges to successfully build and maintain a space-based solar power station.

Currently, one of the most significant issues is about finding a safe and suitable way to send the energy generated in space back to Earth for consumption. 

The main concern is that some of the energy will be lost during the travel, leaving only a small amount of solar energy that may reach Earth in the end.

Reference image of a football stadium

There are other challenges to building a solar power station in space, given that a single solar plant may be as huge as 1,400 football stadiums. 

To build something of this size, a large number of heavy solar panels will need to be taken into space using rockets. 

This will require countless rocket launches from Earth, which is expensive and harmful to the environment. On top of this, solar panels in space can be damaged by space debris or any floating objects. 

They may also degrade faster from being continuously exposed to extremely powerful radiation from the sun. 

Future of Solar Power Stations in Space

Despite the challenges, countries like China, the UK, the US, and Japan are already making huge strides in improving current technology and experimenting with building small solar power stations in space. 

For instance, the UK is planning to undertake a huge project to build a solar power station in space as part of the governmentโ€™s Net Zero Innovation Portfolio, to achieve net zero energy consumption by 2050.

 Similarly, researchers from Japan and the US are working on developing high-efficiency solar cells that can help with the safe conversion and transmission of solar energy from space to Earth. 

With more developments, this groundbreaking invention of building solar power stations in space can revolutionise the future of renewables while helping to curb the effects of climate change on our planet. 

Reference Links Used: https://www.straitstimes.com/singapore/singapore-now-home-to-one-of-the-worlds-largest-floating-solar-farms

https://singularityhub.com/2022/03/18/a-solar-power-station-in-space-heres-how-it-would-work-and-its-potential-benefits/

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AI Tech

๐‡๐จ๐ฐ ๐Ÿ๐š๐ซ ๐๐จ ๐ฐ๐ž ๐ฐ๐š๐ง๐ญ ๐ญ๐จ ๐ ๐จ?

Written by : Marcus Parade on Digilah (Tech Thought Leadership)

๐š๐ง๐ ๐ก๐จ๐ฐ ๐Ÿ๐š๐ซ ๐œ๐š๐ง ๐ฐ๐ž ๐ ๐จ?

There will be a time sooner than we think, when you will not recognize the difference of a human being and a human robot said an expert of robotics already 10 years ago.

We are still in our early days of AI and robotics and already now, amazing advances have been made in a very short time.

In concern of AI, all kinds of industries are or will be affected, where huge amounts of data are accessible to be processed.

๐€๐ˆ ๐ฌ๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž ๐ข๐ง many cases better efficiency, insights and incredible time savings and therefore also support an increased competitive advantage. 

AI is one of the most exciting and rapidly advancing technologies of our time.

๐–๐ก๐ข๐ฅ๐ž ๐ ๐จ๐ฏ๐ž๐ซ๐ง๐ฆ๐ž๐ง๐ญ๐ฌ, ๐œ๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐š๐ง๐ ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐š๐ซ๐ž ๐ฌ๐ญ๐ข๐ฅ๐ฅ trying to figure out the legal and ethical implications of a content world increasingly turned on by AI, is the progress of this technology advancing โ€œday by dayโ€.

๐–๐ž๐ฅ๐ฅ, ๐ฅ๐ž๐ญ’๐ฌ ๐ญ๐š๐ฅ๐ค ๐š๐›๐จ๐ฎ๐ญ ๐ฐ๐ก๐š๐ญ ๐€๐ˆ ๐œ๐š๐ง do now for us ๐Ÿ™‚๐Ÿ’ก. We’ve all heard of Alexa, Google and Siri Assistants – these are all examples of AI in the form of virtual assistants

But AI is also being used in a far more wide range of industries – from healthcare to finance to retail and much much more.

For example, AI-powered diagnostic tools are being used to help doctors identify diseases like cancer more quickly and accurately. In finance, AI is being used to detect and prevent fraud.

And in retail, AI is being used to personalize shopping experiences and make precise recommendations to customers.

AI is also being used in many other industries such as transportation, manufacturing, law, astronomy, agriculture, energy – basically ๐ฒ๐จ๐ฎ ๐ง๐š๐ฆ๐ž ๐ข๐ญ and again – the AI is getting better day by day …

๐๐ฎ๐ญ ๐ฐ๐ก๐š๐ญ ๐š๐›๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐Ÿ๐ฎ๐ญ๐ฎ๐ซ๐ž ๐ŸŒŽ? ๐–๐ž๐ฅ๐ฅ, ๐ญ๐ก๐š๐ญ’๐ฌ where I find things get really interesting. Some experts predict that AI will eventually be able to do just about anything a human can do and I personally think even far far beyond in many fields.

For example, AI can be used to perform complex surgeries and improve our mobility and here I do not only mean self-driving cars, but also the overall complexity of traffic and logistics and more.

AI is also expected to play a key role in fields such as natural language processing, image recognition, climate prediction and the bit scary part – military weapons and operations.

What I particularly like is that AI might even find out more about the languages of our whales singing ๐Ÿณ๐ŸŽต๐Ÿ‹ as well as other animals ๐Ÿฆ…. This will teach us a lot about language structures, communication, emotions of animals and even ourselves.

๐€๐ˆ ๐š๐ฅ๐ฌ๐จ ๐ก๐š๐ฌ ๐ญ๐ก๐ž ๐ฉ๐จ๐ญ๐ž๐ง๐ญ๐ข๐š๐ฅ ๐ญ๐จ change the way we consume information, and how we interact with our world ๐ŸŒ. As AI becomes more advanced, it’s expected that it will be able to “understand ” natural existing and ancient languages, and carry on conversations with humans that are indistinguishable from conversations with other humans.

๐Œ๐š๐ฒ๐›๐ž ๐ฐ๐ž ๐ฃ๐ฎ๐ฌ๐ญ ๐ก๐š๐ฏ๐ž ๐ญ๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ญ๐จ ๐š๐œ๐œ๐ž๐ฉ๐ญ AI as an additional mega tool that helps our lives to make our challenges easier. 

A bit questionable I personally find though, that there are many start-ups now, tapping markets for people, that want to hold conversations with their beloved ones that have passed away ๐Ÿ’›.

Whereas it is often a big challenge to cope with a lost life, I think it is also important to strive forward towards our future. But everyone should decide for themselves and I think experiences will solve many questions.

AMAZING ๐€๐ˆ ๐ฐ๐ข๐ฅ๐ฅ ๐š๐ฅ๐ฌ๐จ ๐›๐ž ๐š๐›๐ฅ๐ž ๐ญ๐จ process and understand images and videos, and make predictions, decisions and summaries based on all kinds of data. 

What has been recently released for example is the AI used for texting called chat.openAI.com (COAI). The provided data for this platform here is the complete internet that is open and not secured.

๐๐จ๐ญ ๐ฐ๐ข๐ญ๐ก๐จ๐ฎ๐ญ ๐ซ๐ž๐š๐ฌ๐จ๐ง ๐ข๐ฌ Google on “red ๐Ÿšจ alert”, as their business strategy is nowadays being questioned as them not being up to date enough in comparison to the progresses of AI.

Whereas the search engine of Google relies on their algorithms to search for the most relevant results, will AI be able to provide more and more precise SUMMARIES of different sources combined of what you are searching for.

๐๐ฎ๐ญ ๐ญ๐š๐ฅ๐ค๐ข๐ง๐  ๐š๐›๐จ๐ฎ๐ญ ๐ฉ๐ซ๐ž๐œ๐ข๐ฌ๐ž results, so far the results of the AI and COAI are amazing, but when I read some of the AI texts, you will be able to detect some limits at the stage of today. So far the texts of COAI sound quite emotionless and yet quite perfect in many cases.

As an example, job applicants have been invited for job interviews by letting AI write โœ๐Ÿ“œ them their resume as well as the attached letter. In the end, we humans have to decide, if we want to use the AI proposals, adjust it or leave it out. 

And such as in the example with the job interview, no AI can play your individual role, your character and your true emotions while talking in real life face to face.

๐€๐ฅ๐ฌ๐จ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ ask the AI for jokes on COAI for example, I found them ๐ฌ๐จ ๐Ÿ๐š๐ซ a bit middle range. I asked for example 3 times, to tell me jokes about AI:

“Why was the AI sad ๐Ÿ˜ช? Because it had no emotions.”

“Why did the robot ๐Ÿค– go on a diet? Because it wanted to reduce its “byte” size!”

“Why was the AI cold โ›„โ„? Because it left its algorithms open!”

๐“๐ก๐ž๐ฌ๐ž ๐š๐ซ๐ž ๐จ๐ง๐ฅ๐ฒ ๐จ๐ง๐ž some examples, where the AI so far is still hitting its limits. It is also possible that these jokes existed already in the internet and that the jokes were not independently combined.

But as mentioned, AI gets better day by day. The AI will even be able to adapt to your personal writing and speaking style and you will be able to “outsource” many kinds of texting AND research.

In my opinion, ANY industry that is involved with any kind of texting or large data research – even companies such as creating advertising spots and many many more, will be affected “massively” by the progress of AI. The innovative ideas however I will stay in our power ๐Ÿคœ – if we choose to.

๐€๐ฌ ๐จ๐Ÿ ๐ง๐จ๐ฐ ๐ˆ ๐ฐ๐จ๐ฎ๐ฅ๐ ๐ฌ๐š๐ฒ ๐œ๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐ฐ๐ข๐ฅ๐ฅ need less employees, as any kind of texting can be done much faster. And the AI even at this stage can deliver very good outputs in order for people ๐ŸŽญ to have a much faster start with the usage of COAI.

In my opinion, “luckily” so far, the human evaluation and creativity is more than absolutely needed, but let’s talk again in let’s say 10 years again – the dice ๐ŸŽฒ might roll on improved adapted ground …

๐๐ฎ๐ญ ๐ข๐ญ’๐ฌ ๐ง๐จ๐ญ ๐š๐ฅ๐ฅ ๐ซ๐š๐ข๐ง๐›๐จ๐ฐ๐ฌ ๐ŸŒˆ ๐š๐ง๐ sunshine ๐ŸŒž – some people are worried that as AI becomes more advanced, it could lead as mentioned to widespread job losses and even the rise of a robot ๐Ÿค– “rebellion”.

There is also a concern that AI could be used to create autonomous weapons, and to gather data on individuals without their knowledge or consent.

๐–๐ก๐š๐ญ๐ž๐ฏ๐ž๐ซ ๐ฒ๐จ๐ฎ ๐ฆ๐ข๐ ๐ก๐ญ ๐ญ๐ก๐ข๐ง๐ค ๐š๐›๐จ๐ฎ๐ญ Elon Musk, but I find his quote about AI very interesting, that AI could be the biggest threat for human kind. 

Logically I think however, it should “easily” be possible to create secure gateways for AI not be able to become independent and to totally restrict opportunistic behaviour in favour of AI so far.

๐‡๐จ๐ฐ ๐Ÿ๐š๐ซ ๐๐จ ๐ฐ๐ž ๐ฐ๐š๐ง๐ญ ๐ญ๐จ ๐ ๐จ?? I personally believe that most technological advances will be tried out if it is more or less promising for a competitive advantage.

It’s also integrated in our genes for our survival instinct to strive for technological advances. As AI provides competitive advantages and an easier life, this is and will be part of our evolutionary processes of technology surrounding us. 

It will accompany us now and for our common & united future. As the scientist Darwin already stated “Survival of the fittest”.

๐„๐ญ๐ก๐ข๐œ๐š๐ฅ standards will need to be set, as the AI is extracting and combining data from all kinds of previous inputs that is found in our internet. For example the first upload bans for AI artwork have started. 

I can follow these measures and as of now, I think AI inclusion should a t least be identified, but this could also be wishful thinking…

๐Ž๐ฏ๐ž๐ซall, AI has the potential to make our lives better in countless ways. 

AI can helps us be more efficient and productive, it can help us make better decisions, and it can help us to understand and interact with the world in innovative, inspirational and faster ways.

And who knows, maybe in the future we’ll all have robot butlers to do our chores and make us 007-๐Ÿธ Martinis or whatever … ๐Ÿ˜

๐’๐จ, ๐ญ๐ก๐ž๐ซ๐ž ๐ฒ๐จ๐ฎ – we – ๐ก๐š๐ฏ๐ž ๐ข๐ญ – ๐š brief overview of what AI can do now and what our future might hold. 

It’s an exciting time to be alive and to see how far AI has come, and it is going to be even more exciting to see what our future will reveal.

The possibilities are quite endless and I am most curious to see how AI will shape our world in the coming years ahead to our common advantage.

๐“๐จ๐๐š๐ฒโ€™๐ฌ ๐€๐ˆ ๐ข๐ฌ still narrow and often yet not so very intelligent, but it soon will be, as the tech is getting better day by day – like the harnessing of electricity – that has changed the very fabric of our human life. 

Some scientists proclaimed that in 2029, AI will be “smarter” than us humans – others say quite a bit later…

๐‹๐ž๐ญ ๐ฎ๐ฌ hopefully only go as far, as where we humans still remain the ultimate decision making power without opportunistic behaviour. AND having unifying sustainable goals supported by AI, to save our lovely planet with humans living on it ๐ŸŒ

๐Ÿ’›๐ŸŒน๐ŸŒž

๐ˆ ๐ก๐จ๐ฉ๐ž ๐ฏ๐ž๐ซ๐ฒ much you like or found my article somewhat inspiring – ๐ˆ๐… – perhaps you might like to comment or place a ๐Ÿ‘ or so? ๐ŸŒž

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Categories
Digi Tech HR Tech

The hidden life-changing (and money-making) power of Change Management

Written by : Lata Hamilton onย Digilahย (Tech Thought Leadership)

Itโ€™s no secret that digital transformation is the hottest thing since sliced bread, and everyone wants a piece of this money-making pie.

Whether itโ€™s going to make your company money or save your company money, the future is new technologies that turn old, manual processes into faster, simpler, automated magic.

But what happens when your digital transformation dream goes up in smoke, and youโ€™re left holding the ashes? Youโ€™ve spent bucketloads on innovation and development but for some reason your amazing platform, system or app hasnโ€™t hit the mark, isnโ€™t being used properly by your staff, customers or clients, has run over deadline, and left you feeling youโ€™ve wasted not just money, but also time, effort, energy and hope.

You wouldnโ€™t be alone.ย 

A massive number of digital projects fail. A 2020 Forbes article found that the number of technology projects which experience serious issues in things like cost, schedule, and goals can be up to 60%! Iโ€™ve seen it myself on major digital transformation projects that Iโ€™ve worked on with some of Australiaโ€™s biggest companies.

But there is a silver lining. The same Forbes article found that the secret to reducing technology project failure rate is often: people.

How?

Through the power of Change Management – which can not only transform your transformation, but also your results.

My simple definition of Change Management is: โ€œmoving people from one way of doing something to a new way of doing something, through communications, training, and business readiness, to realise the benefits of the change.โ€

People are the users of any digital technology – they are the ones that unlock its potential. The sad truth is that people are hard-wired to hate change.ย 

Even when a new technology could save time, effort and expense, most people will still resist it.ย 

Change Management encourages inviting people in to co-create and co-design what the change will mean for them, give them, and bring them. It builds trust instead of fear, empowers your people to own their future, and helps them get ready for a new way of doing things.

Here are some practical Change Management-inspired approaches you can use to help launch your digital technology more successfully with staff, customers and clients:

  • Co-design the features and processes of the new system with actual end users so itโ€™s fit-for-purpose, user-friendly, and loved before launch.
  • Get your teams ready for the new way of doing things by clearly explaining to them how their processes and tools will be different and what they need to do to prepare.
  • Build a microsite and provide regular project updates, news, training tools, and resources – as well as a countdown to launch and a forum to ask questions!
  • Do live demos of the technology all the way through development – seeing is believing!
  • Give people the chance to get hands-on with the system before itโ€™s launched – even if thereโ€™s still bugs, it will help build confidence in the solution.
  • Create an exciting launch event – bring it to life with a quiz, competition, or lucky draw that requires people to try out the new system, with super cool prizes on offer.

Bringing people on the journey not only changes your experience of leading a digital project, but improves the likelihood of success.

The Forbes article also suggests building soft skills, supporting leadership, and offering better training experiences – which are all things a great Change Management expert can provide.

If you want to learn more about the power of Change Management, download my free โ€œChange Hackathon Planning Workbookโ€ here which steps through how to crowdsource and co-create future ways of working during transformation and change.

Name and title:

Lata Hamilton โ€“ Change Leadership and Confidence expert

Bio:

Lata Hamilton is a pocket rocket burst of energy with a big heartโ€ฆ and big hair! She helps women carve their own paths for change in their career, leadership and life. Lata is a Change Leadership and Confidence expert, the creator of the “Leading Successful Change” program, and the Founder & CEO of Passion Pioneers.

Websites:

www.latahamilton.comย 

www.passionpioneers.com.auย 

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Hello readers!ย Hope you liked what you read today. Click the like button at the bottom of this page and share insights with your colleagues and friends!

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Mar Tech Digi Tech

SMS Marketing Is Your Key to Success: Tips and Best Practices

Written by: Shadz Loresco onย Digilahย (Tech Thought Leadership)

โ€œDear Diner, you have an upcoming reservation at La Pergola today. Save up to 30% when you purchase a voucher with us via Pergola. Terms and Conditions apply.โ€ย 

I’m sure you must have seen similar promotional text messages on your mobile phones. The messages are short and thoughtful, and it has the potential to grab the attention of the recipient.ย 

The message also serves as a reminder, which is a very important factor when it comes to marketing.

If you want your customers to remember something about your business, it has to be memorable and meaningful.ย 

And what better way than through SMS Marketing?

Let’s take a look at why SMS Marketing is the best thing in business.

What is SMS Marketing

SMS marketing means sending marketing messages by text to communicate with customers. Businesses can use SMS to send promotional messages, notifications, and alerts to their customers’ mobile phones.ย 

This can include things like special offers, discounts, and event invitations.ย 

SMS marketing is often used as a means to reach customers quickly and effectively, as most people have their mobile phones with them at all times.

According to Statista, the use of mobile devices such as smartphones and tablets has become so widespread that these handheld electronics have become almost indispensable tools for reaching customers.ย 

As more than half of the global population uses them to access the internet, businesses from around the world are seizing this opportunity to promote their products and services online.

SMS marketing is extremely effective, with high engagement and conversion rates, as well as lower costs than many other forms of marketing.ย 

Itโ€™s also more personal, fostering stronger customer relationships between businesses and their consumers.

For successful SMS marketing, businesses that rely on text message as a primary means of reaching existing customers must comply with the local laws and structure their campaigns correctly. They also need to provide leads that are easily traceable and useful.

Best practices for SMS Marketing

Text marketing requires sales representatives to maximize the benefits customers receive from interaction with their company while minimizing the amount of time and effort customers have to invest in that interaction.

To get your SMS marketing services off to a good start, let’s consider these 6 best practices.ย 

  1. Make sure you have a clear opt-in

It is important to ask for written permission from your subscribers before you send them any kind of message via SMS. Your message should include words like โ€˜Subscribeโ€™, โ€˜Yesโ€™, or โ€˜Dealsโ€™.ย 

Similarly, make sure your recipients have a clear way to opt out of receiving your messages. You can configure these keywords to specific lists for easy campaign management.

  1. Be SMS compliant

Businesses that send text messages to customers should consider partnering with global SMS providers to ensure they are compliant with regulations.ย 

Such providers offer the added protection of a secure authorization process, allowing companies to avoid penalties for noncompliance and keep their brands above reproach.

  1. Don’t bombard your customers

Sending too many text messages will mark you as a spammer, but sending too few leave your customers wondering about your business.ย 

By localizing the content, managing dissemination times across multiple time zones, and segmenting customers to create individual experiences, you can keep them engaged with consistently interesting experiences.ย 

A steady messaging schedule is key to a successful text message campaign and keeping your customers in the loop.

  1. Keep texts short and thoughtful

To ensure that people read your messages, keep them brief and to the point. Long messages can cause users to stop reading or even opt out of receiving future messages from you.

Also, text messages are limited to 160 characters, so itโ€™s smart to grab your customerโ€™s attention with an exciting greeting and then relay details about the coupon or special offer.ย 

For example, “Come to our restaurant and receive a 15% discount on your meal by texting YES to 123456789.”

  1. Identify yourself

Don’t assume that your customers have your number in their mobile phone contacts. If you want them to open the message and read further, start by identifying yourself immediately.ย 

You can do this by putting your brand name at the start of the message, followed by a colon. For example, “Smith Restaurant: Come in today and receive a 15% discount on your meal.” Businesses should also use local numbers for their customers, as this lowers their OPEX (operational costs).ย 

  1. Offer 2-way communication services

When offering two-way communication, be quick and responsive. If your text messages include live chat or call links, you can personalize your service by pairing customers with the same agent they may have communicated with earlier. Keep the channel open to receive feedback from customers and respond to their inquiries.

You can also use the channel to send out surveys, which is a great way to collect feedback and improve your business.ย 

Schedule these series of messages so that they are automatically sent out at a certain time of day or week. If you want to make sure people have received their message, include an โ€œSMS Read Receiptโ€ link so customers can confirm whether they did in fact receive them.

Video: https://www.youtube.com/watch?v=31283gPCwvA

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SMS Marketing campaigns

Youโ€™ll find many SMS marketing platforms that can help you send bulk text messages, personalize them, and measure the effectiveness of your campaigns. Most platforms have an API that allows developers to integrate SMS into existing systems.

You can also use these tools to track when people open the message and click on links within itโ€”as well as which ones they choose not to open.

If youโ€™re planning to send SMS messages in bulk, itโ€™s important to choose a platform that has strong scalability and reliability. Many platforms also offer mobile apps that will allow you to view reports and manage campaigns on the go.

Create and send scalable campaigns that are customized to your target audience and your message content. SMS and WhatsApp campaigns can be used to send promotional or transaction-related messages for marketing purposes.

SMS sounds primitive but it’s still powerful

The power of SMS is undeniable; itโ€™s the most effective way to reach your target audience and drive action. With the right messaging, you can build trust and rapport with your customers, increase brand loyalty, improve customer retention rates, and boost sales.ย 

For businesses with limited resources, it can be overwhelming to identify which channels to use for marketing.

Fortunately, SMS is an inexpensive and effective channel that can be used in conjunction with other digital marketing strategies.ย 

SMS marketing is on the rise because it worksโ€”when done correctly, it reaches 95% of mobile users. To ensure your campaign is a success, you’ll need a sophisticated SMS service provider that can support your mobile marketing programs.

Most searched question

What are the rules and best practices for SMS marketing?

Why SMS marketing is the best?

Most searched queries

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Types of SMS marketing

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HR Tech

Assess and showcase the IMPACT

Written by : Lori Figueiredo onย Digilahย (Tech Thought Leadership)

We are now doing a full circle. We started to identify PEOPLE and pre-define the PURPOSE. We then made conscious choices about the PRINCIPLES, PROCESS and PLATFORMS. Now we are back to PEOPLE and PURPOSE in order to assess the IMPACT.ย ย 

This means going back to the pre-defined PURPOSE to measure, track and report on what did you and each target group within the PEOPLE ecosystem:

  • ACHIEVE = assess the results
  • DO = assess the behaviours
  • LEARN = assess knowledge, skills and attitudes

This is all about data, which is a word everyone uses and only legendary leaders are mindful enough to always clearly pre-define, communicate AND enable their people to achieve.ย 

Typically the workstreams of data analytics, on the one hand, and, on the other hand, equipping the PEOPLE with the critical behaviours to drive these data points are NOT aligned.ย 

They are working in silos. Reflect on your organization and the alignment in this area.

From insights to actions. That is why we insist the data points should be pre-defined, and ideally even co-created by those actually doing the work aligned to the bigger shared PURPOSE.ย ย 

Then relevant data points, metrics or indicators are collectively measured, reported and finally the leaders and teams turn this data into insights by finding the patterns.ย 

These patterns thereafter are the basis for deciding on the actions (which are the behaviours).ย ย 

Levels of assessment. I discovered the pattern of ACHIEVE-DO-LEARN while working on large transformation strategies. I subsequently found that it matched fully to the commonly used Kirkpatrick Model of Assessment.ย ย 

The model assesses organizational learning at 4 levels:ย ย 

  • Level 4 being the assessment of impact on the results
  • Level 3 means assessing the impact on behaviours
  • Level 2 being testing of the knowledge as we did at school
  • Level 1 refers to getting the feedback from the Learners on the learning experience itself; and in our case on the learning culture and whether the 5P enablers are in place

Leading indicators as levers for the lagging indicators. I learned about the interplay between the lagging indicators as the final outcomes AND the leading indicators.ย 

The leading indicators are the levers that drive the final outcomes. This is an important first principle to acknowledge and to create practices and mechanisms to tightly link the 2 metrics.ย 

In other words, the behaviors (DO) are the leading indicators and the results (ACHIEVE) are the lagging indicators per target group.

Tracking the leading indicators. Based on the patterns uncovered through the assessment, decisions can then be made as the entire learning framework is targeted to drive the critical few behaviors for you and each target group.ย 

For example a call center team found that the team that improved their call opening had better results than teams that focused on improving their behaviors throughout their calls.

If the behaviors are very explicitly pre-defined, we have made use of a traffic light scoring which helps to create a visual dashboard and reference point.

Each individual and teamโ€™s behaviors are listed and rated using green when they are doing the behaviors as stated.ย 

Marked as orange when there is a need to improve. Red when the behaviors are not being demonstrated at all.

Assessing the IMPACT of your learning, change and enablement efforts is such an important component to ensure the learning delivers relevant value to the people and organizations involved.ย ย 

Furthermore showcasing the data and insights related to the journey and the resulting IMPACT at each stage, serves to inspire yourself and others.ย ย 

It is also serves as a feedback loop to the next cycle or wave of learning to be iterative. Knowing the positive and negative patterns of why, what, how, where and the resulting impact of the learning on the people and organizationโ€™s performance is critical.ย 

In addition, it is possible to make tangible other metrics such as level of engagement, alignment and empowerment in innovating and shaping the future.ย 

 

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Med/Health Tech Mar Tech

How to Improve Your Virtual Consultations for Healthcare

Written by: Gunalan R on Digilah (Tech Thought Leadership)

The telehealth industry is expected to grow from US$26.4 billion in 2020 to $70.19 billion by 2026. 

At the onset of the pandemic, virtual visits to healthcare providers peaked. As the population ages and more people live longer with chronic conditions, the demand for telehealth services will continue to rise. 

Remote consulting allows patients โ€“ who might have mobility issues or live far from the clinic โ€“ to access medical services more easily and conveniently. It also enables doctors to provide more flexible and responsive care, which can be especially beneficial in the case of follow-up consultations.

Some will argue that remote consultations will never replace the in-person experience. This is where virtual consultations come in. 

Virtual consultations are a modern approach to delivering traditional face-to-face consultations. When implemented, they offer a secure digital healthcare service to your patients.

What is a virtual consultation

It allows patients from their houses to consult with a doctor online using live video conferencing, which results in more convenient and cost-effective care for both parties

Two-way high-definition (HD) video conferencing has paved the way for more types of virtual visits than ever before. Advisors can now engage with patients via this technology, which allows them to access a new range of treatment possibilities from any location–using a smartphone, tablet, or desktop

A virtual consultation is also an effective tool for follow-up consultations between patients and their doctors after theyโ€™ve been discharged from the hospital or clinic.

We have seen practices establishing virtual health clinics with a full suite of diagnostic tools and secure video conferencing technology. 

This allows the continuity and flexibility of best care without sacrificing the quality of that care and the patient experience. 

Improving health services with virtual consultations

Let’s discover some of the best features that make virtual consultations an excellent tool for delivering healthcare.

    1. Easy to use

A virtual consultation must be simple to join and a user-friendly tool. It allows patients to connect with their doctors from their homes or any location, using a smartphone or computer. The process must be quick, easy to follow, and not require any technical support. 

    1. High-quality video and audio

The quality of the video and audio is key to a successful virtual consultation. For doctors and patients to have a productive session, they must be able to see each otherโ€™s faces and hear each other’s voices clearly, with no delay in transmission. This is where carrier-grade services come into play. 

Carrier-grade services are dedicated and specialized networks that deliver high-quality voice and video with minimal delay. The standard for this kind of service is the ability to deliver 99.95% uptime. 

They are designed to ensure a consistent experience for both parties in all environments, including remote locations such as rural communities where there may be limited or no access to other forms of communication infrastructure.

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    1. SMS notifications

Text messages are often more effective ways to communicate with patients than emails. This is often the case of reminding them of upcoming appointments or medication. 

The ability to send text messages to their mobile phones is a very useful feature that can help streamline your practiceโ€™s workflow and improve patient satisfaction. 

SMS notifications can be used for many things including appointment reminders and schedules, prescription refills, disease management programs, and more. Itโ€™s also an easy way to communicate with patients who donโ€™t have email access or prefer not to use it.

A recent study shows that text messages receive a 90% engagement rate and help patients feel more connected to healthcare teams.

In addition, call links or live chat can be included in text messages. This function allows patients to click a link in the message to connect with their advisors in real time. 

    1. Unified workspace

Combine all channels and networks in a virtual space where your team can collaborate in real-time on any device. Itโ€™s an environment that fosters patient care and empowers staff to work together seamlessly across different locations, making it possible for them to stay connected no matter how far apart they are. 

A unified workspace brings together all of the tools you needโ€”like scheduling, messaging, file sharing, video and call conferencing, and moreโ€”into one place so everyone has access to the information they need at any given time.

It’s an easy way to connect with patients while maintaining high levels of security and privacy. 

    1. Virtual numbers

Virtual numbers provide a convenient way to connect with patients, no matter where they are. Whether you’re a local clinic serving your community or a multidisciplinary clinic with international patients, virtual numbers can be answered on any device and will always forward to the correct location.

    1. Data security

Keeping patient data secure is one of the biggest challenges for healthcare providers.

Healthcare organizations are required to comply with HIPAA regulations that govern the protection of patient health information, which includes ensuring that all data is encrypted and stored in a secure environment.

To protect your data, consider using platforms that offer encryption, backup and recovery, GDPR compliance, and relevant industry standards. In the age of data breaches and hacking, it’s paramount to have a secure way to communicate with patients.

Benefits of online consultations

Virtual consultations offer health services the chance to diversify the ways they interact with their patients. 

In todayโ€™s world, convenience is key. This concept unsurprisingly applies to healthcare with 74% of patients preferring easy access to services over in-person interactions with providers.

Advantages for patients

Online triage, psychiatry, and therapy offer an improved level of healthcare to vulnerable groups, including the elderly and disabled. Patients are not required to leave their comfort zones and can feel more at ease during the consultation, enabling better diagnosis.

Advantages for doctors

Increasing the efficiency of care delivery and reducing the costs of transporting patients between medical care facilities. 

The use of virtual consultations can also help doctors manage their workloads, reduce their mental stress, and improve their work-life balance.

A growing trend in virtual healthcare consultations

Virtual consultations in healthcare are a permanent part of the medical landscape, and they are here to stay. 

They offer patients access to a wider range of healthcare providers than ever before and allow providers to extend their reach into areas where they have previously struggled to establish a presence.

Communication technologies have become an essential part of most people’s daily lives, but until recently they have not been widely used in health care. A secure and user-friendly installation with audio and video clarity is crucial for virtual health.

The implementation of remote consultations is not meant to replace in-person consultations but to improve the overall doctor-patient journey.

Leverage the power of a unified CX and EX solution to create a truly connected, intuitive, and immersive experience. To learn more about CINNOXrequest for a demo or sign up for a free trial.

Most searched question

What are the benefits of virtual consultation?

Which online medical consultation is best?

Most searched queries

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Telemedicine

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HR Tech

Use the right PLATFORMS

Written by : Lori Figueiredo on Digilah (Tech Thought Leadership)

As a leader you are likely to leave all the decisions on where learning occurs to others.  However there are many reasons why you should be interested in how to create safe spaces where you and your people are learning.

As demonstrated in the earlier example (PROCESS article), if you yourself are an active learner your people will mirror your daily habits. 

If you take the time to become aware of the options and you consciously become an active learner developing yourself aligned to the shared PURPOSE with a clear PROCESS โ€“ this in itself is a powerful force aligning your teams to your strategic ambitions.  

Letโ€™s explore how you can think about which platforms could be used.  Going back to first principles โ€“ we can learn and therefore create safe spaces on the web, in a workshop or in the workplace.

You as a role model โ€“ As a learner, you yourself should be leading the way and being an early adopter curious to explore new learning technologies that enable digital learning

Are you trying out Chat GPT as an example and what enterprise learning technology platforms are you using?  Do you demonstrate that you are learning in the workplace which is called action learning? Are you participating in workshop sessions which enable social learning

What investments do you approve โ€“ I have had leaders approve a very expensive learning technology because it had spaceships โ€“ which by the way were completely irrelevant to the behaviours, mindset and culture they needed to achieve better results.

If you are consciously leveraging learning technology to upskill yourself, you will be fully equipped to influence the requirements, selection and adoption of platforms that enable digital, social and action learning.

Return on investment โ€“ Are you aware if your organization is investing in the right platforms or spaces that best suit the target audience and the nature of the impact required?

Are you purely signing off on budgets that may be totally ineffective, while your entire organization continues on the same track, not making any changes at a behavioural, mindset and skill level?

On the other hand your teams are using their valuable time addressing recurring problems or losing customers from poor service or paying fines for ethical misconduct due to the way the organization works and learns together?

All this is happening because the why, how and where your people are working and learning together is ineffectual.

For example many organizations still spend lots of money on online content with low adoption rates and yet every year these online subscription licenses are automatically renewed.

We are not pro- or anti- digital learning (or eLearning as it was called) or classroom training.  

It is the conscious decision to combine the 3 ways we learn naturally (through Education, Experience and Exposure) with the 3 places where we learn.

So here is a way they think about this and nudge yourself, your leaders and teams to leverage the available PLATFORMS most effectively. 

For each micro-learning experience every team can:

*LEARN on the WEB โ€“ use digital learning to identify, curate and consume relevant content just-in-time 

*APPLY the learning in the WORKPLACE – use action learning while working on tasks or jobs to be done

*REVIEW it in WORKSHOPS – use social learning to reflect, assess and adjust your behaviours and results

In fact, this is often referred to as the 4th โ€“ which is E for environment. Much research and your own evidence will confirm that creating safe spaces for learning on the web, workplace and workshops is a critical ingredient to drive the critical behaviours and results of any community or ecosystem of people navigating change.

We use a digital-action-social learning cycle using the web-workplace-workshops for each unit of learning from a simple to a very complex learning strategy.

Using this as part of the 5P framework anyone is able to create a highly scalable and sustainable learning, enablement and change strategy with strategic impact. 

Collectively leaders can reach millions of people with deep and meaningful impact on their behaviours and results which in turn leads to people and organizational transformation, success and growth.

Furthermore you are creating psychological safety in your organization which is a fundamental role as a leader. Aligning the PLATFORMS to the PURPOSE and PROCESS, ensure you are leveraging all the possible spaces and embedding continuous learning, adapting and improving as a daily habit into your operating rhythm.

 

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For more such amazing content follow DigilahAre you purely signing off on budgets that are
ineffective . . . while your entire organization continues on the same track,
not making any changes at a behavioural, mindset and skill level.any 

Categories
Mar Tech Logistic & Travel Tech

Revive Customer Experience (CX) in the Hospitality Industry

Written by : Krutant Iyer on Digilah (Tech Thought Leadership)

The travel restrictions in many countries have eased. Hotels and group tours are filling up. The travel and hospitality industry were the worst-hit sectors during the pandemic.

The challenges of going through the lockdown. No more dining out, partying with friends, or even setting out on a staycation with family.

We have come a long way. Even though most countries around the world have lifted travel restrictions, people are still apprehensive about booking a flight ticket, pre-paying for a hotel booking, or even dining at their favourite restaurant. But that doesnโ€™t mean people are not keen to go out again.  

The pandemic has changed the hiring landscape in nearly every industry, including hospitality. Now that the worst of the pandemic is over, the industry needs to thrive with the highest focus on customer experience (CX). 

Leaders from the hospitality industry are well aware that compassionate customer service is the key to creating an excellent guest experience and winning their trust and loyalty.

Silent Pitfalls of Customer Experience 

  1. A New Generation of Well-Informed Customers

The post-pandemic traveller is savvier than before and has higher expectations from businesses.

The new-age customer is smart enough to not make a booking online before searching all avenues for the best price available, and if by chance the price on the official website is higher than the one offered by an online travel agency, then that business is likely to see a dent in their revenue. 

From searching and booking the experience to sharing stories about the experience, customers expect businesses to go over and beyond in fulfilling their expectations for โ€˜something different and hipโ€™ to be considered a full-course 5-star service. 

  1. Bad Experiences Shared by Customers

One bad experience is all it takes for customers to take to social media and vent about their negative experiences.

It is also true that customers are not so driven when it comes to sharing positive experiences and need to be goaded with enticing add-ons or coupons to share one. 

Customers expect instant gratification and to accommodate customersโ€™ on-the-fly requests, businesses need to have holistic visibility of their entire journey to craft top-notch experiences.  

  1. Data Collection and Personalisation

Most hospitality businesses have marked their presence on various digital channels to actively engage with their customers and offer personalised services. However, this is not the case.

Their efforts are hindered by the lack of availability to collect data from various distributed systems and use this data to fulfil customer expectations

When customer data is distributed across multiple systems that have no way of integrating into one, centralised destination, it leaves the customer-facing teams grasping at straws to fulfil customer expectations.

  1. Disconnected with Customer Service Touchpoints

Multi-channel communication hailed the pre-pandemic era. 

However, the landscape has seen unprecedented changes. Most businesses are out of touch with how they handle customer enquiries across individual touchpoints. 

To deliver great customer experiences, the hospitality industry needs to first provide its employees with the resources they need to thrive in any situation. 

An increased focus on CX opportunities as we head into 2023 and beyond will be crucial to boosting team productivity, performance, and engagement. 

Letโ€™s take a look at some important pillars of how the hospitality industry can reboot customer experience with an omnichannel transformation.

Roadmap to Experiential Transformation

  1. Deliver Proactive Customer Service

Having an online presence is just half the battle. The other half is taking a more proactive, consultative approach for online visitors. Rather than depending on conversion rate optimisation (CRO) techniques, have a smart greeting function to welcome visitors. 

While some visitors prefer to browse alone to find the best deals, others will appreciate you asking questions to better understand what they are looking for, and their requirements. 

The most pleasant moment is when the visitor is greeted in the native language. When the customer-facing agent speaks the customersโ€™ language, this shows the efforts the business is willing to make to satisfy their needs. 

A visitor clicks on the live chat link below the smart greeting, for example. From the enquiry window, your sales agent knows the visitor browsed a cosy resort. 

When it comes to the hospitality industry, the customer experience begins right from the moment of discovery and the first interaction. Businesses need to proactively engage with visitors to convert them into paying customers.

  1. Connect Customers with the Right Experiences

Bridge the gap between telecom and digital experiences, by unifying all touchpoints on a single platform.

Businesses can create frictionless and contextual experiences by effortlessly switching between social media channels, emails, SMS, video, and phone to adapt responses. 

Post-pandemic customers are looking for live human support on their preferred channel of communication. Go further and provide them with real-time, humanised experiences at every touchpoint backed by customer intent and sentiment data from a unified dashboard.

Some visitors are hesitant to move forward, in this instance for the cosy resort booking because of some safety measures of the theme park.

It takes a split second for them to leave a chat and never return if their needs are not addressed optimally. 

The ability to share files within the chat widget ensures that the chain of conversation does not get broken, and empowers the agent to keep the interaction contextual. 

To ensure the visitor can make an informed purchase decision, your sales agent even turns the chat into a video call and offers a virtual tour of the resort. 

Conversational AI capabilities can turn the live chat into a live video tour to seamlessly assist customers through the booking process. This will expedite the decision-making.

  1. Humanise Customer Relationships in a Digital World

The hospitality industry needs to transform its customer experience to emulate real-world, personalised services. 

This can be achieved by using smart capabilities such as sticky routing. Sticky routing empowers businesses to direct returning customers to the same customer support agents who attended to their previous enquiries.

Letโ€™s say the customer who booked the resort returns to your website again after a few weeks. This time, the customer enquiries about the availability of corporate booking packages for the companyโ€™s annual event. The customer is then directed to the same agent who attended to the previous enquiries. 

Intelligent routing and binding rules act as tunnels to ensure customers receive personalised service and help in establishing efficient workflows. 

  1. Adherence and Compliance with Data Security

Keeping data secure, private, and safe from breaches takes precedence when businesses decide to digitalise their traditional processes.

Currently, many businesses are limited by the strict regulations implemented by the governing bodies on outbound telecom communication services, which impedes their ability to effectively use calls and text messaging services.

Customersโ€™ details are a wealth to a business.

They are highly confidential. Empowering the business with a robust cloud-based unified communication solution is highly essential. 

To connect customers with businesses securely and offering data retention capabilities following the government regulatory requirements is critical.

Key trends driving the hospitality industry

If you are wondering about the forces that are driving the hospitality industry after coming out of the pandemic, these numbers would make you sit up: 

  • 97% of millennials share their travel experience on social media 
  • Approximately 90% of customers are willing to share their behavioural data if it can lead to them being offered an affordable brand experience  
  • 80% of customers feel more emotionally connected to a business when customer service solves their problem
  • Sales in the leisure tourism market are projected to grow at 19.5% CAGR 
  • 86% of customers are willing to pay more for a superior customer experience 
  • Customers who are loyal to a business spend 67% more than new customers

Look forward and understand your customers better

To deliver on ambitious aspirations, the hospitality industry needs a deep understanding of its customers. The needs and expectations are constantly shifting. 

With the right omnichannel CX solution, businesses can offer secure and personalised experiences to their guests while eliminating loopholes from disjointed touchpoints. 

Businesses are paving the path to a brighter future by making efforts to enhance their relationships by proactively engaging with their customers on channels of their choosing.

Leverage the power of a unified CX and EX solution to create a truly connected, intuitive, and immersive experience. To learn more about CINNOX, request for a demo or sign up for a free trial.

Most searched questions

How can you enhance the experience of the client in facilities for the hospitality industry?

What is CX in travel?

Most searched queries

Examples of good customer service in travel and tourism

Future of travel industry after COVID

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HR Tech

Adopt a clear PROCESS

Written by : Lori Figueiredo onย Digilahย (Tech Thought Leadership)

Every day, as a leader you are โ€œdesigning learning experiencesโ€ โ€“ for yourself and your teams.ย  Itโ€™s likely unconscious and it should become conscious as it is a core aspect of being human and achieving breakthroughs โ€“ since every day, life is our classroom.ย 

Most importantly the way you work AND LEARN with your ecosystem of stakeholders influences the way they operate in the way you engage with them. In addition, you are role modelling your behaviours or habits as a learner.ย 

Every moment of the day you demonstrate how you respond to change – whether you are adaptive and constantly learning, reflecting and improving or whether you are stuck, inflexible and not adaptive at all. Take note, active learning is a future skill identified as critical by the World Economic Forum.

As we know โ€œwhat got you here, wonโ€™t get you thereโ€ which was made famous by the book of the same name by Marshall Goldsmith.ย 

Yet when uncovering the status quo and the future path ahead, in many leading organisations, leaders expect organizational change and behaviour change as well as different results from their teams.ย 

Yet they themselves are still behaving and measuring KPIs which directly block the innovation, agility and adaptability required to create the changes expected.ย ย 

On the other hand we have worked with legendary leaders who are at every level โ€“ strategic, tactical and even at a personal level โ€“ are leading the way as active and agile learners.ย ย 

When a CEO managing a

billion-dollar organization was consuming new content, applying the new content immediately and then constantly sharing his own formal and informal insights gained daily โ€“ everyone in the organization followed his example.

In this organization, you could feel the alignment, you could feel SYZYGY and breakthroughs in performance happened daily! He, furthermore, was well prepared to be involved in the organizational enablers that support agile teams, as he himself was agile.ย ย 

He guided the selection of the learntech platforms we explored to enable digital learning. He himself was involved in social and action learning with his peers and subordinates as a daily and conscious habit.ย  Because of this โ€œoperating or engagement modelโ€ his people were fully aligned with his strategic priorities and the shared purpose was clearly evident โ€“ as depicted in the visual.
Diagram

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Therefore, for leaders and teams to work AND LEARN together in a way that is agile, the leaders of any organization, community or ecosystem need to adopt a clear process.ย ย 

What we mean by that is โ€“ as a daily habit – to consciously combine the 3 ways we learn naturally towards achieving the pre-defined change or clear PURPOSE:ย 

  • Learn key content = Education = LEARN IT!
  • Learn by doing = Experience = APPLY IT!
  • Learn with/from others = Exposure = REVIEW IT!

Letโ€™s use a BIG example, letโ€™s explore the end-to-end professional development journey as a private banker from new hire to being a leader OR a small example, constantly improving how the frontline ensures customers feel welcomed as they enter the store, bank, restaurant or hotel.

For both examples when we are highly effective, we would naturally break up a huge, or tiny, body of knowledge into small independent and discrete units.ย  This natural phenomenon has been labelled microlearning.ย ย 

For both examples high performing individuals and teams would pre-define the PURPOSE to ensure IMPACT.ย ย 

As anyone navigating change and their own learning journey, for every microlearning unit, using our PURPOSE, we would have defined what each Learner or group of Learners needs to ACHIEVE (results), DO (behaviours) and LEARN (knowledge, skills and attitudes).ย 

Whether you are the head of learning or the head of Private Banking enabling thousands of private bankers or a private bank navigating your own development, creating this role clarity is critical.

Now the PROCESS for the consumer of the learning, we go in the opposite direction. We first LEARN the critical knowledge, skills and attitudes through Education.ย 

Then we immediately APPLY the learning by doing which involves learning through Experience. In addition we REVIEW what we are learning when we exchange, discuss, get coaching, get inputs from others and this has been labelled โ€œExposureโ€ as part of the highly researched and documented 3Es.

Diagram

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Therefore, to create a clear PROCESS, we start by breaking down the learning into bite-size chunks with every microlearning unit being made up of LEARN-APPLY-REVIEW.ย ย 

Letโ€™s think of these units each as an engaging and meaningful learning experience. Thereafter these series of experiences are strung together into learning journeys.ย ย 

Finally at an organizational level, many such learning journeys roll up to define the organizational learning strategy. Note that typical organizational strategies when deployed range from including fully end-to-end structured journeys to more dynamic journeys where agile practices are adopted as daily habits.

This visual shows an example of a mobile learning app where the PURPOSE and PROCESS where embedding in to design and navigation of the end-to-end learning journey to enable the required behaviours and results.

From an organisational perspective, we recommend starting with the big picture using the 5P framework to set the overarching learning strategy. Then prototyping specific learning journeys to test and improve the strategy. Over time the specific way of working and learning together for a positive impact is embedded in the culture of the organization.

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Categories
Ad Tech Web 3.0 Tech

IS YOUR BRAND METAVERSE READY?

Written by : Srishti Jain on Digilah (Tech Thought Leadership)

You need not answer that. It’s clearly a rhetorical question. What we mean is how ready is your brand to start the Web 3.0 Journey.

Let us first start with telling you about Evolution of User Experience in the Digital space. 

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We are currently in the Transition phase and slowly moving towards AR VR Wearables & Mixed Reality devices as an everyday utility. While your customer base is moving towards the Web 3.0 it’s important for your brand to jump on the wagon.

What it means is you change your communication and your content to something more engaging, a lot more immersive and definitely more interactive, allowing two way communication

At retail level, we can explore Interactive store facades, Virtual try-on, In-store engagement games, Interactive Visual Merchandise and Immersive in-store experiences.

What is Augmented Reality?

Augmented reality (AR) is overlaying visual, auditory, or other sensory information onto the real world to enhance one’s experience. You donโ€™t need fancy wearables like Heads sets or smart glasses to access it, rather it can be accessed through mobile apps or on your phoneโ€™s web browser. 

Does AI come handy in building AR experiences?

Yes, Use of Artificial Intelligence plugs computer intelligence into the entire user journey to make the experience seamless. Say, a chat bot or an AR bot to guide you through the entire journey will enhance the entire experience many fold.

We integrate self-training AI modules into some experiences which understand Human behaviour and make the journey better.

How Retail Businesses Are Using Augmented Reality?

Augmented Reality allows brands to develop smart retail experiences that influence their customers’ perception or buying decisions.

Retailers have traditionally relied on print advertising campaigns or other media to promote products. Being divided in the past, print, media and in-store marketing efforts are merged today into the comprehensive consumer experience via augmented reality.

Retail AR spans from enhancing VM display windows to product Trial experience, from in-store engagement to Smart mirror installations and much more.

Following the trend, augmented reality has emerged as an innovative tool that allows brands to interact with consumers on their mobile devices or on pre-installed set ups. Soon this experience will extend to smart glasses. 

Below examples of AR speak for themselves:

Nescafe Virtual Date

Link to above images

A fabulous AR portal for the youngsters, where they can walk-in, explore, interact, and also share with loved ones. From writing the name of their loved one on a virtual canvas to watching a shooting star, this Valentineโ€™s Day specific immersive activation was a grandeur. 

Interesting Insight: This pack lead experience increased pack purchase and communicated appropriate content for the right TG

Ponds Influencer campaign amplified by AR

Link to above images

A gamified Social-AR campaign on Pondsโ€™ new product launch, where users had to move around the Ponds Serum with their face and pop the bubbles containing elements harmful to skin. Bursting bubbles increases โ€œGlow meterโ€ above the user, which when filled gratifies the user with a sparkling glowing skin.

Interesting Insight: User Generated content saw a big jump during this campaign building the much needed hype a brand wants in the initial phase.

Mural in Manhattan

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A picture containing text, outdoor, street Description automatically generated

Link to above images

This Mural on Road Safety in Manhattan comes to life in AR when passers-by scan it via a mobile App, enabling Artists to add another creative layer to their work and elevate the message within the Art and communicate with the world. 

Additional features: Location sensing, mapping the nearby area and taking a selfie with the art are additional features of this experience. 

  1. Medical Team Internal Training for a pharmaceutical brand

Link to above images

This Micro-gastrointestinal simulation in AR has enabled a Pharma Brand to train their medical teams in research, product development and sales pitches. The Medical team could showcase the introduction of certain microbes and their effects in AR.

What to expect in the coming years?

With the mixed reality glasses recently launched in a big way in India, industries get more opportunities to share immersive & engaging content with its target customers

By 2027 we will see a big jump in AR/VR/ MR/XR content floating around us in our day to day lives using our smartphones and other wearable devices.

Impresario Tech build end-to-end brand campaigns focusing on Pre-purchase consideration or post purchase engagement, in store experience or on-pack brand communications with the use of Augmented Reality, Virtual Reality, Mixed reality, Artificial Intelligence & Machine Learning

These immersive experiences can be built app-free (on web), deployed as special apps, rest on brandsโ€™ social media handles or installed physically in retail environments.

Love to guide you through your brandโ€™s transformation journey. 

Write to us at Inquiry@impresariotech.io

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Mar Tech Property Tech

Total Experience Strategy in Proptech: Improve the Real Estate Market

Written by : Sean Cho onย Digilahย (Tech Thought Leadership)

Property technology, or PropTech, refers to the use of information technology (IT) to help individuals and companies research, buy, sell and manage real estate.ย 

Typically, the participants in the real estate industry are brokers, agents, developers, buyers, sellers, landlords, and lenders. This technology-based sector allows them to be more efficient by automating manual tasks such as managing inventory and communicating with clients.

The real estate sector encompasses a wide range of processes and transactions, ranging from how real estate is planned and designed to how it is bought and sold. The Proptech sector consists of start-ups and innovative products across the commercial and residential real estate markets.ย 

The convergence of technologies, cloud, and digital transformation are forces driving the rapid growth of PropTech.ย 

PropTech aims to minimize the cost and resources associated with real estate transactions, maximize efficiency, save time, and personalize property management.

Digital Innovation is Transforming the Property Sector

Real estate is a highly specialized industry, so these agencies require considerable flexibility when considering a digital solution.ย 

If a solution matches their often highly customized requirements, then it will be able to support their prospect’s pipeline — which is a combination of marketing, in-person meetings, property showings, and property closings — as well as the customer journey in real estate.

The property industry is undergoing a shift from traditional to digital services, as a result of the rapid rise of online and virtual services.ย 

Customers are increasingly being exposed to new technologies, which have affected the way they communicate with sales and lettings agents and property businesses.ย 

To remain competitive in this rapidly changing market, businesses need to implement a customer experience strategy that will best meet the needs of their particular audience.

To learn how property industry players can leverage PropTech to create memorable customer and employee experiences, keep reading!ย 

We’ll also share some use cases to show how a total experience platform can turn ordinary property interactions into extraordinary ones.

Customer Experience Still Evades Many Real Estate Agencies

A statistic that is widely quoted in the industry is that 1 in 3 customers will walk away from your brand after just one negative experience.ย 

Multiple studies echo this, always with the same message that it’s cut-throat: that your business needs to act fast to retain them. The numbers are not exaggerated, but rather represent a normal part of everyday life, and most businesses miss these small details.ย 

Not responding to a phone call or email quickly enough is an example of a small detail that can have major consequences.

If you don’t respond well to these kind of details, customers will leave your business in favour of another company that provides better service.ย 

According to recent studies, 86% of consumers will not remain loyal to a company after a negative experience; and if they do stay, it is likely because they are unable to find what they need elsewhere in which case you got lucky.

In a highly competitive market, providing a great customer experience will help build loyalty, nurture repeat business, and create brand advocates. Agents and employees need tools to stay productive and collaborate effectively online from wherever they are.

4 Customer and Employee Experience Strategies to Boost Business

Here are some examples of how you can harness Customer Experience (CX) and Employee Experience (EX) in your business to create a competitive advantage.ย 

Great customer service can differentiate real estate products and services from competitors, while time-saving tools and hacks for employees can turbocharge their productivity and keep them from burning out.

 

    1. How Communication Builds Trust between a Tenant and an Agent

Georg and Berta, who are relocating from Germany to Hong Kong for an expatriate posting, browse your property agency website and shortlist a few rental apartments.

Wanting to know more, Berta clicks on the smart widget on your website and watches a branded video featuring an agent while being connected with him directly.

The call routing system detected the customer’s browser language and routed them to an agent who speaks German. The customer is delighted to be talking to someone in their native language.

Your agent then suggests they switch to a video call for a more interactive conversation, taking just one click to seamlessly make that change while still on the same call.

By chance, your agent is currently showing a property in the Mid-Levels area with rents of around HKD 40,000 a month. Using the mobile app, she checks Georg and Berta’s browsing history and sees they are coincidentally looking at the Mid-Levels area with rents of the same price range.

Qualifying the lead further, she gets their expected move-in date which helps to narrow down the listings more.

While a real estate agency website can contain virtual reality walkthroughs and videos, nothing beats a personal live video tour from the agent. Sensing the prospect’s eagerness, she conducts an impromptu walkthrough and adds her commentary on the apartment’s condition.

 

    1. Discover new ways to market a property and generate interest

Keanu, who lives in New Zealand, saw an advertisement for your company’s new beach resort in Hajodae, South Korea. To promote the launch of the property, your firm took out a full-page advertisement in his local newspaper with a QR code.

Wanting to know more, he instantly connected via web call to an English-speaking property agent in South Korea.

The property is still in the pre-launch stage, so the only way to get a sense of the completed unit is to visit a show flat. Your agent switches easily to a video call, slowly panning his phone to show Keanu what he can expect from the resort property once it has been completed.

Currently, you only have a basic landing page for visitors to register their interest. However, your property agent screen shares from the video call and plays him a promotional video of the property.

As Keanu is an enthusiastic surfer, he inquired about the facilities. Your agent provides you with a link to a VR walkthrough of the resort.

Your property agent mentions that the firm has a tie-up with a financial institution that can offer loans denominated in South Korean Won, and Keanu seems excited by the possibility of such financing.

As he discusses his plans for the property, your agent invites the expert to the ongoing call.

 

    1. Transform the way of closing a new residential lease

Taiwan real estate agent Annya has just ended a virtual tour of four apartments with a couple from France, who are now considering the properties. Although she feels they are good prospects, she knows that they may change their minds at any time, or another agent they’ve contacted might win the deal.

Annya received a message on her phone. The couple had used the web link on the agency’s website to send a message; they liked the last viewed apartment in Taipei and wanted to offer a two-year lease at TW$80,000 per month. Thrilled by this news, she called the landlord through the smart app, and he happily agreed.ย 

Annya prepares a provisional tenancy agreement and attaches it to a live chat session with the French couple.

She reminds them to wire the initial deposit to the landlord once they have digitally signed the contract. Receiving signed copies of both the contract and a screenshot of the telegraphic transfer, she calls the tenants.

She walks the tenants through the landlord’s leasing process during a video call. The landlord’s solicitors will prepare a draft tenancy agreement for them to review. In the meantime, Annya suggests that she recommend a lawyer who can represent them. They agree, and she invites the lawyer to join the conference call.

 

    1. Increased communication and collaboration by overseeing commercial tenants

As the property manager of a large-scale commercial complex consisting of a shopping mall and offices above it, Shoba is responsible for hundreds of retail and office tenants. A member of a dedicated team of accountants, technicians, and procurement and contracts specialists working in the onsite management office, she leads her team in providing an exceptional level of service to all clients.

The use of a lightweight CRM offers tenants a chat room environment, centralizing every interaction and communication.

Through the use of interaction history, she is able to chart the correspondence over time, enabling to resolve issues quickly.ย 

In addition, Shoba uses CINNOX as a cloud communications tool, enabling her to manage chats, calls, video calls, and emails from one place, thereby avoiding the cost of installing a more complicated PABX system!

When a new tenant moves into an apartment community, he or she is given a laminated card with QR codes printed on it.

When scanned, the codes direct callers to the appropriate team for help with payments and statementsโ€”saving tenants time from searching for a number. The same teams are also shared via web links in an email, giving tenants an option to chat instead.

CINNOX helps teams collaborate. For example, if a new tenant wants to move in after hours, Shoba can create a chatroom to notify operations about the loading bay, advise facilities to keep the lights on, inform security about the removalists, and add the external moving company as a contact so everyone is kept updated.

An Experience-Driven Approach To PropTech

From the examples above, it’s clear when you address your immediate CX and EX needs with a total experience platform. You are also laying the groundwork for future success.ย 

By putting all your interaction data in one place, you are creating a treasure trove of data that can be analyzed with powerful machine learning and AI tools to discover valuable insights in the future.

PropTech is a new industry that combines property with technology, allowing developers, landlords, property agents, and property managers to leverage technology to keep in step with digital-savvy customers.ย 

When choosing the right partner to develop your customer experience, look for a business that puts the customer (your customer) first and foremost, and who demonstrates that they too take that approach from their business.

Leverage the power of a unified CX and EX solution to create a truly connected, intuitive, and immersive experience. To learn more about CINNOX, request for a demo or sign up for a free trial.

Most searched question

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What is the future of PropTech?

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HR Tech

Embed clear PRINCIPLES

Written by : Lori Figueiredo on Digilah (Tech Thought Leadership)

As we are shaping how we work AND LEARN together with our ecosystem of Stakeholders, a clear set of โ€œrules of engagementโ€ or team rules are needed. This is usually assumed that people are on the same page and not discussed. 

This may lead to miscommunication, disagreements and stress as there are likely to be different expectations and/or ways of operating.  

Being an agile team that is open to learn, adapt and improve as a daily habit, takes some emotional maturity and adaptability amongst all the team members.

Though a very simple practice or tool, which is to agree on how the team will work and learn together is a basic fundamental which will increase the chances of success as a group. 

This is especially true when we bring together a wide variety of Stakeholders from different backgrounds, professions, areas of expertise and functions.

Again, begin with the end in mind โ€“ take a moment to imagine NEW possibilities. Imagine creating a safe space that allows you and your various Stakeholders to deliver value to the organization, to each other and to the end customer.

You need to be conscious of your set of conscious AND unconscious assumptions about the possible challenges or areas of friction across the set of individuals in the team.  

Letโ€™s explore this a bit more deeply. Our assumptions and thoughts determine our behaviours and results.  

We each have certain thinking habits which are patterns we keep repeating. These are the โ€œanchorsโ€ which influence our view of the world and the way we interact in the world.  These patterns are called our mindset which is based on our past and present experiences (learning and conditioning). 

Thinking about our own thinking raises our level of self-awareness. This activity is called Metacognition.  

It is a powerful habit to develop. If we are not aware of our mental pictures, we can limit our own success. To help us become more aware, we need to take time out to become conscious of our assumptions and thinking patterns.  

A belief is a thought we keep thinking. We can have self-limiting beliefs which block us from progressing. We also have empowering beliefs which enable us to achieve great things and breakthroughs.  

To create safe spaces to imagine and create new possibilities while collaborating with others, required conscious positive thinking which will help you develop yourself, your ecosystem as well as improve your collective performance to achieve positive change.

Agreeing on the rules or principles will determine how effective you work and learn together in achieving a positive impact. You may also agree on the forums and the frequency you will use to meet and connect. 

Raise and discuss the possible obstacles you may have and ways you can minimize them โ€“ from the outset. Finally keep checking in to ensure you are adopting these rules as you go about your day or adapt them โ€“ if new ones are required. 

Examples of rules could be that โ€œwe willโ€ฆbe positive, be open to new ideas and to think out loud as a way to share and generate more ideasโ€.  

Below is one of the rules we have adopted in our Teamโ€ฆwhatever we do we must deliver value and have a positive IMPACT.  Or if not possible, we would rather do nothing!

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Mar Tech

5 Brilliant Ways to Use Live Chat for Ecommerce Experience

Written by : Shadz Loresco onย Digilahย (Tech Thought Leadership)

Consumers no longer see shopping as a mere transaction; it’s about providing an entertaining and engaging experience.

When you donโ€™t win a customerโ€™s trust, they go to a competitor or change their mind about making a purchase altogether.

What can you do to provide a great customer experience that generates loyal customers and maximizes revenue?

Humanizing the customer experience is one way to differentiate yourself from your competitors.

Instead of offering discounts that hurt sales, engage with customers, and provide a personalized experience to increase customer loyalty and drive repeat purchases.

While most e-commerce stores offer self-service options such as knowledge bases, FAQs, and perhaps an automated chatbot, many consumers prefer to speak with a real human being. For businesses, live chat is a low-cost alternative to expensive phone calls.

Here are five ways to use live chat to make your online shopping experience more personal.

ย 

    1. Be sure to make a good impression on your online visitors

Visitors’ first impressions of your e-commerce store are determined by many of its elements, including design, user experience, and product offerings. Others include how easy it is to get customer support and service when they need it, and the channels available.

ย 

    • Customize the look and feel of your live chat widget

    • Enable a friendly Smart Greeting that welcomes your visitor

    • Design your widget icon and chat box in a way that matches your brand image

    • Even better, embed an in-call video or image to introduce your brand

    • Localize your live chat; enable Smart Routing on your widget to automatically assign visitors to the most suitable staff based on device language or geographical location

ย 

    1. Give your customers the option to contact you at any time

Live chat support is a fast, efficient way to help customers.

Customers don’t have to wait for an email response or pay long-distance phone charges to get help; they can just chat with you directly!

You can also set up offline contact forms so that people can leave their contact details for immediate follow-up when staff are online.

ย 

    • Enable web calls from the live chat widget for consumers who prefer to speak with a staff rather than type in a message

    • Visitors can also access a directory of staff members to find the best person to answer their questions, such as exchanges & returns, shipping, or payments

ย 

    1. Create an emotional bond with shoppers

Inspire consumer trust by showing the human side of your staff. Live chat allows customers to interact with real people, rather than automated messages, bringing e-commerce one step closer to humanizing the customer experience.

For example, if your staff are into running, they can share their recommendations on running gear. Providing instant replies to customer inquiries can make customers feel valuable and important in addition to reducing customer churn by keeping your best customers and encouraging repeat sales.

ย 

    • Having a live chat widget that allows you to seamlessly switch between chat, video calls, and voice calls inside the same app is a winning feature that can help you stand out from the competition

Video: https://www.youtube.com/watch?v=mD2XIFwcYL8

ย 

    1. When you add value to a conversation, you make it more meaningful

As your customers progress through their purchase journey, you should be creating and sharing content to keep them engaged. The best way to do this is by creating content that is timely and relevant to the conversation your brand is having with its audience.

This could be a new product offering, promotion, or even a social media post showcasing your brand personality.

ย 

    • Add a web link to push visitors directly into a live chat session, or a web call with a staff who previously helped them

    • A great way to keep offline interactions going is with QR codes. Stick these on the backs of your products so that customers can easily access help if they need it

    • Print QR codes on your marketing materials so that leads can be generated from printed posters, leaflets, and brochures in addition to your e-commerce website

ย 

    1. Personalize the chat as often as you can

Customers expect to be treated as individuals, so try to tailor your responses based on the information you have about them. Great customer service means using the customer’s name in the conversation, whenever possible and appropriate.

This helps the customer feel like they’re speaking with a human person behind the brand rather than an automated bot.

ย 

    • Personalize conversations by asking for additional information through pre-chat forms

Get the most out of your e-commerce customer experience

When e-commerce stores are focused on generating leads and growing sales, it’s easy to lose sight of the personal touch. The simple truth is that people return to brands they know and trust to give the best buying experience.ย 

Live chat is the perfect antidote to this problem: Provide a human touch with your customers’ questions and concerns, and you’ll transform transactional experiences into memorable and pleasant ones.

Leverage the power of a unified CX and EX solution to create a truly connected, intuitive, and immersive experience. To learn more about CINNOX, request for a demo or sign up for a free trial.

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HR Tech

Define the shared PURPOSE

Written by : Lori Figueiredo on Digilah (Tech Thought Leadership)

External rewards, such as fair pay, only AVOID dissatisfaction.  

External rewards are NOT the most critical motivators.  

Internal rewards are the most critical motivators. Striving towards a PURPOSE that is meaningful to you โ€“ is a powerful internal reward.  It may include enjoying what you are doing and experiencing personal growth.  

Even more powerful than this, is when we have a shared PURPOSE with those whom we respect and connect with.  The larger common purpose we co-create with others is usually:

  • aligned to our own personal purpose
  • inspirational and uplifting so we connect to it emotionally and deeply
  • aspirational as a breakthrough which goes beyond our current achievements

Based on these findings, we formulated the SYZYGYยฎ PURPOSE. It is a tool to envisage and define your direction, value and roles of your ecosystem of Stakeholders.  As we get clear on who are the right PEOPLE, co-creating a shared PURPOSE is the next habit.  

A pre-defined PURPOSE ensures you target, track and measure the required IMPACT! We always need to begin with this end (shared PURPOSE) in mind to anchor, motivate and inspire ourselves and others. 

Think aboutโ€ฆ? Do you have a clear picture of the impact of your efforts and activities on your organization and people?

How might you pre-define a shared PURPOSE as you engage your ecosystem of Stakeholders?

With your Stakeholders you discuss and define the broader purpose which is your collective value to the organization and/or larger community:

  • Your breakthrough goals with concrete measurable indicators
  • Your strategy which is simply your approach or plan to get there

Then you discuss and define the roles. This means you define and communicate what each Stakeholder group needs to:

  • ACHIEVE = results
  • DO = behaviours
  • LEARN = knowledge, skills and attitudes

When you breakdown performance into very simple, clear and measurable terms, the desired IMPACT on organization performance and people performance becomes very clear. 

This role clarity empowers and aligns each Stakeholder group to take targeted, critical and meaningful action. Once all your Stakeholders understand and are aligned to your breakthrough goals and strategy โ€“ this state of alignment is called SYZYGY. When aligned, with less effort we achieve greater results.

For example, while working, learning, and empowering people to improve their performance โ€“ we found it worked best when those involved imagined their own shared purpose.

In addition, we found when there is alignment, all the Stakeholders within the ecosystem share information and insights up and down the value chain every day. All those involved can then use this feedback loop to continuously improve what they LEARN and DO to ACHIEVE their shared PURPOSE.   

Pre-defining and then targeting to impact the desired performance outcomes is one of the most critical advantages of using the SYZYGYยฎ methodology. Letโ€™s move onto the other 3 of the 5P frameworkโ€ฆ

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Web 3.0 Tech Fin Tech

A cashless society powered by blockchain technology

Written by : Mosongo Jr on Digilah (Tech Thought Leadership)

Introduction

A cashless society is upon us; the question is simple: when will new technologies transform many industries, and payments are no exception? 

Governments, fintech companies, banks, and merchants are actively looking for ways to improve the payment experience, meet the needs of the unbanked, and curb crime and corruption.

In just a few years, we may see a world without cash. This isn’t some far-fetched idea; countries like Sweden, Finland, and China are already leading the way to a cashless society. And it’s not just small businesses that are making the switch; even major banks like HSBC are getting on board.

So, what does this mean for you? Imagine a world where you can pay for anything with the click of a button. No more waiting in line to buy tickets or groceries. No more fumbling through your pockets for change.

So what are you waiting for? Join the cashless revolution and experience the convenience and security.

You’ve seen the signs. Businesses are refusing to accept cash, your friends are talking about going cashless, and the media is full of stories about the coming cashless revolution.

So, what is the cashless revolution? 

Put simply, it’s a movement towards a society where physical cash and coins are no longer used. Instead, all payments are made through digital means such as virtual currencies like bitcoin, credit cards, debit cards, and mobile payments.

There are a number of reasons for this shift. 

Firstly, businesses see going cashless as a way to reduce costs. Cash handling and security cost money, whereas digital payments are much cheaper and easier to manage.

Secondly, many people are choosing to go cashless in order to avoid the hassle of carrying around coins and notes. 

And thirdly, governments and central banks are increasingly seeing a cashless society as a way to improve financial security and reduce crime.

The impact of the cashless economy on consumers and businesses is twofold. 

Firstly, it is a more convenient and faster way to pay for things. You no longer have to fumble for change or fumble with card machines. Instead, you can just scan your phone or contactless card and be on your way.

Secondly, it is more secure. With card fraud on the rise, businesses are increasingly looking for ways to reduce their liability. By moving to a cashless system, they can reduce the risk of fraud and protect their customers’ data.

There’s no doubt that a cashless society is becoming more and more prevalent, and blockchain is playing a major role in powering this change. 

Let’s explore some of the ways blockchain is being used to make a cashless society a reality. and why it could be the most used cashless payment method in the coming years.

The blockchain system


Blockchain-based payment systems are secure, efficient, and convenient.
There is no need for third-party intermediaries such as banks, which means transactions can be completed more quickly and at a lower cost. 

Blockchain has also helped more than 2 billion unbanked people by giving them access to digital financial services from which they are currently excluded. Similarly, look at how mobile phones have transformed communications and financial services.

Blockchain and cryptocurrencies are expected to play a key role in enabling a cashless society. 

While skeptics argue that CBDCs may limit the privacy of our day-to-day transactions, cryptocurrencies offer anonymity and censorship resistance that could help prevent prying eyes from prying into our day-to-day spending habits.

Government agencies can easily add or remove CBDC from user accounts. However, public blockchain payments are immutable, meaning no one can change them or adjust your balance.

Additionally, cryptocurrencies will become a viable alternative to government-issued currencies as cashless societies become a reality across the globe. Crypto assets like bitcoin act as a hedge against currency depreciation, allowing individuals to protect their wealth without relying on central banks or governments.

Another key application of blockchain in a cashless society is in the area of fraud prevention. With traditional payment systems, there is always the risk of fraudulent activities such as identity theft and credit card fraud. 

By using blockchain, businesses can reduce these risks by creating a secure and tamper-proof ledger of all transactions.

Blockchain is playing a major role in powering the emerging cashless revolution. As more and more businesses adopt blockchain-based payment systems and fraud prevention measures, the cashless society will become more and more ubiquitous.


Countries Leading the Cashless Revolution

As the world continues to embrace a cashless future, certain countries are leading the charge by embracing blockchain-based cashless payments. El Salvador took the lead in accepting bitcoin as a legal tender, followed by the Central African Republic, and as of now, the Brazilian government is interested in making bitcoin a legal tender. 

Although Sweden, Finland, and China are at the forefront of the cashless society movement, they aren’t yet using the blockchain to build their cashless payment systems. Most payment systems will move to the blockchain space. 

JPMORGAN CHASE & CO., one of the world’s largest banks, is leading the way. thanks to their generous infrastructure and commitment to innovation.

These developments prove that itโ€™s not only possible but highly likely for our society to become completely cashless in the nearest future, with most payment systems built on the blockchain.

Cultural Barriers to a Cashless World

Despite its numerous advantages, the transition to a cashless society is met with several cultural barriers. It is no secret that some countries may have an inherent distrust of digital payments due to a lack of financial infrastructure or poor monetary policy decisions. 

For example, in some African countries where cash is still used predominantly, people may not trust digital payments and prefer using physical cash instead.

Furthermore, the risks that come with digital payments remain unrecognized by many people, such as fraud and cyber security threats. This lack of understanding of the safety measures also prevents them from transitioning to a cashless society.

Ultimately, for us to move into a future where blockchain is at the forefront of payment technology, it is important to first overcome these cultural barriers by educating people and providing more secure payment systems.

What does the future hold for a cashless society?

As we move deeper into the 21st century, it is clear that the digital age is ushering in a new era of cashless transactions and financial freedom. The advent of blockchain technology is at the forefront of this revolution, allowing individuals to make payments quickly and securely with little risk of fraud or theft. 

Moving to a cashless society has its advantages, from increasing efficiency to being more accessible for those without access to traditional banking services. But it also presents some unique challenges, from potential cybersecurity risks to a lack of privacy for consumers.

Despite these possible drawbacks, experts agree that the advantages outweigh any potential pitfalls. As more countries adopt blockchain-based payment systems and move away from physical cash, we can expect to see increased convenience and security for consumers around the world. With the right infrastructure in place and necessary safeguards taken, the future looks incredibly bright for a cashless society powered by blockchain.

Conclusion

On the path to a cashless society, policymakers need to agree on a framework to drive the process forward. However, access to technology is one of the biggest factors in determining how quickly different parts of the world move away from cash. The transition from cash will only go smoothly if most people are familiar with digital payments. However, this is already a reality in many parts of the world.

Society is going cashless, and cashless transfers will soon become the preferred option over time. There are many benefits to going cashless. Going cashless not only makes life easier but also helps to verify and standardize the transactions that are made.

In a nutshell, a cashless society powered by blockchain technology is possible because of the features of blockchain, such as transparency, security, and immutability.

Most searched question

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Use of blockchain technology

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