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Digi Tech

India’s Digital Transformation

Digital India

Written by Rishi Suri on Digilah (Tech Thought Leadership).

India’s digital evolution has significantly advanced, moving beyond the foundational Aadhaar system (Digital India) to encompass a broader spectrum of digital innovations aimed at enhancing governance and service delivery.

The Digital India program, inaugurated in 2015, represents the backbone of this transformation. Its mission is to provide electronic access to government services, boost online infrastructure, and improve Internet connectivity. The initiative revolves around three main pillars: digital infrastructure as a utility for every citizen, on-demand governance and services, and empowering citizens through digital means.

Aadhaar: The Digital Identity Revolution

Aadhaar, the world’s largest biometric identification system, has been a cornerstone of India’s digital framework. Over the past decade, its role has expanded significantly, offering a reliable digital identity for Indian residents. This system has facilitated access to a variety of services, including banking, mobile connectivity, and government subsidies. By streamlining bureaucratic processes and minimizing fraud, Aadhaar exemplifies how digital solutions can enhance governance.

Unified Payments Interface (UPI)

The Unified Payments Interface (UPI) has revolutionized payment methods in India. Developed by the National Payments Corporation of India and supported by the Reserve Bank of India, UPI allows users to effortlessly transfer money between different banks. Its user-friendly design and efficiency have driven widespread adoption, positioning it as a key component of India’s fintech progress.

Digital Health Innovations

India’s health sector is also experiencing a digital transformation. The Ayushman Bharat Digital Mission aims to build a comprehensive digital health ecosystem, providing universal health coverage in an accessible and efficient manner. This initiative includes creating unique health IDs, maintaining digital health records, and enhancing interoperability within the healthcare system.

Advancing Education Through Digital Means

The National Education Policy 2020 (NEP 2020) underscores the role of digital technologies in expanding educational access and quality. Platforms such as Diksha, which offers a wide range of educational resources, and the National Digital Library of India, reflect the commitment to leveraging digital tools for educational improvement.

Connecting Rural Areas

The BharatNet project is working to deliver high-speed Internet to all Gram Panchayats, ensuring that digital services reach even the most remote areas. Complementarily, the Digital Village initiative aims to transform rural regions by enhancing technology access, digital literacy, and essential services, thus narrowing the urban-rural divide.

Addressing Challenges

Despite these advancements, challenges such as digital literacy, privacy issues, and cybersecurity threats remain. Addressing these concerns through policies like the Personal Data Protection Bill and improving cybersecurity measures and digital literacy programs demonstrates a commitment to overcoming these obstacles.

Over the past decade, India’s digital landscape has evolved remarkably. By fostering technological innovation, streamlining governance, and empowering citizens, these initiatives set a benchmark for digital transformation. India’s journey underscores the transformative potential of technology in shaping governance and society, paving the way for a digitally empowered future.

(The Writer is the editor of the oldest and largest Urdu newspaper of India, The Daily Milap (www.thedailymilap.com). He also the co founder of Global Order (www.globalorder.live), a foreign policy publication).

Most asked questions

How is Aadhar enhancing the governance?

By streamlining bureaucratic processes and minimizing fraud, Aadhaar exemplifies how digital solutions can enhance governance.

What is the aim of Digital Village initiative?

The Digital Village initiative aims to transform rural regions by enhancing technology access, digital literacy, and essential services, thus narrowing the urban-rural divide.

Most searched queries

Unified Payments Interface (UPI)

National Education Policy 2020

Personal Data Protection Bill

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Fin Tech

Advance fintech solutions with ORIGIEN

origien

Editorial Leadership pickup by Digilah (Tech Thought Leadership).

China Resources Bank has debuted two key components of its Financial Infrastructure Innovation Platform – a financial transaction cloud and a new supply chain finance platform.

It is built on ORIGIEN, the financial-grade digital infrastructure developed by digital transformation specialist GienTech.

Promoting the development of sophisticated home-grown financial technology (fintech) in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the new platform enhances the Bank’s operating efficiency, flexibility, and agility, and fosters innovation to support customers.

Established in Zhuhai in 1996, China Resources Bank actively supports the growth of the GBA. 

The Bank signed a strategic partnership agreement with GienTech in December 2022 to advance its technology innovation, build the Financial Infrastructure Innovation Platform, and promote the GBA’s fintech development.

As the digital infrastructure at the heart of China Resources Bank’s Financial Infrastructure Innovation Platform, ORIGIEN enables systematic IT architecture upgrades, large-scale software development, and digital transformation while meeting the high technical standards of the financial sector.

The Financial Infrastructure Innovation Platform will be rolled out in two phases.

Phase one has seen the establishment of the financial transaction cloud, as the technology foundation of the Bank’s digital transformation. 

On this cloud platform, is being built an updated core banking system, a new supply chain finance platform, as well as a new mobile banking platform.

Phase two will be set in motion after the cloud platform’s reliability, security and feasibility have been validated through these core business frameworks, and the rest of the bank’s financial transaction systems will be migrated to the cloud.

There is also underway the readying of a new mobile banking platform, which will be ready for a trial run by the end of 2023.

Ultimately, GienTech and China Resources Bank aim to set an industry benchmark for fintech application innovation and actively promote fintech development in the GBA.

The goal is to empower the digital transformation of the financial sector and other key industries in the region with the comprehensive ‘ORIGIEN + Solution + Service’ business model.”

The successful deployment of China Resources Bank’s financial transaction cloud and supply chain finance platform underscores the stability and security of ORIGIEN as a platform for financial services. 

Source: PR Newswire

Most searched questions

What is Origien?

What is financial infrastructure?

Most searched queries

Origien

Supply chain

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Fin Tech

The Fintech awakening

fintech

Written by Ramma Shivkumaron on Digilah (Tech Thought Leadership).

This is the age of innovations and agility, and when we mention these disciplines, how can the mention of Fintech, unicorns, and entrepreneurs be far behind?

A Fintech is a young company that has developed a unique business idea, aims to make an instant impact, and take over the market.

The Pandemic and Arising Fintech Opportunities

The pandemic drastically pivoted the focus of many entrepreneurs to solving pandemic-driven existing and future problems of the industry. Many Fintech realized the hidden prospects behind the pandemic-related challenges.

How the small businesses across sectors were crippled due to restricting CoVID-safety policies. For example, Gusto, a small-business payroll provider, “has been working around the clock to help small businesses get loans via the Paycheck Protection Program.

Most financial technology innovations have led to a single goal in the banking sector – better service value. How? FinTech innovations have a basic infrastructure of creating value for targeted users.
For example, a mobile payment gateway gives value to online traders. Digital banking provides ease to the value chain of open banking services.

A report by the Economist shows that FinTech is fast making banks more customer-centered in their business model. Banks now have more insight into more information through Big Data and Artificial Intelligence.

Also, FinTech tends to focus on a specific financial process, which opposes traditional banks’ strategy of hooking customers to its entire ecosystem. This method helps them build trust with their customers. In fact, 90% of FinTech believe that customer experience is a priority.

Take Revolut, a FinTech company that focuses on customers’ needs at all levels, grew from 150 thousand customers in 2017 to more than 8 million customers. According to Ron Olivera, Revolut plans to expand its product in the US in 2022 by taking customers from legacy banks.

A payment and service provider, Klarna, is another customer-centric FinTech company disrupting finance with its marketing strategy. They recently launched a “Consumer Council” program for consumers to share their experience of using the product. 

By listening to consumers, FinTech has understood consumers’ wants and needs.

Fintech is a foundational force that will continue to transform the financial landscape over the years. As per the E&Y survey, Asia is the biggest consumer of fintech, and The USA is the biggest producer. 

FinTech’s are mainly built to escape the poverty trap in a society that used to be mostly cash-based. It is to revolutionize money and the credit industry as well.

Some of the trends prevailing globally:

-The latter half of 2023, the market may face challenges, but Fintech are predicted to receive funding and attention.

-Fintech funding, particularly in payment, insurtech, and wealth tech sectors, may increase as the market stabilizes.

-Improved market conditions may also lead to more M&A activity as investors seek out promising opportunities.

Conclusion:

It is important to dream, have the ambition and vision to set the bar high to enter a whole new world of Fintech that will drive strengths, and diversity and intensify the economy of the country.

Most searched questions

How does fintech helps in customer services?

What is the role of big data and artificial intelligence in fintech?

Most searched queries

Paycheck protection program

Insuretech

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Ad Tech

First Party Data is the King

Written by Stafaniya Radzivonik on Digilah (Tech Thought Leadership).

Nowadays we’ve been hearing repeatedly about the upcoming cookieless and ID-less world in the ad tech industry. However, what does it actually mean and how is it going to change our online activities? Let’s get to the roots of it.

User Identification

Any user can be identified, recognized and tracked within an online environment. Third-party cookies (3P cookies), device IDs and sophisticated IDs such as IDFA, AAID, IDFV serve the key role in that mission. They help advertisers to target the right audiences and deliver relevant ads according to user’s preferences and interests. Though, to what extent it’s allowed — under the question mark.

The implementation of CCPA, LGPD, GDPR, TCF v.2 as well as an attempt to unite them under GPP alongside LAT introduced by Apple and Google in 2012 brought to the table the notion of user’s consent where users can opt-in or opt-out and adjust the data shared at any time.   

Cookieless and ID-less world

Following these data privacy restrictions, Apple released a new App Tracking Transparency (ATT) framework in 2021 where fingerprinting is prohibited giving full control to users. In turn, Google announced a deprecation of 3P cookies in Chrome by the end of 2023. Given that, the future of cookies and IDs is a foregone conclusion.

The upcoming cookieless and ID-less world puts marketers in need of exploring ways to run successful campaigns without user IDs as well as challenges ad monetization strategies of publishers. It becomes necessary to adopt a portfolio of alternative approaches and solutions to target and serve relevant ads without clear identifiers.

Options available to advertisers and publishers

Privacy Sandbox Proposal

Topic is rooted in Federated Learning of Cohorts (FLoC) and designed to support interest-based advertising. It facilitates more privacy for consumers on the web by means of analyzing online activity (behavior) of users within the browser without any cookies. It determines up to 350 cohort-based topics per user that could be adjusted as matching or sensitive and stored up to one week.

First-Party Data

Leveraging and storing the first-party data (1P data) collected by the publisher across all applicable devices (websites, apps, smart TVs) within the customer data platform (CDP) unveils the possibility to consolidate all the touch-points with the audience as well as to build a coherent profile of each user required for more targeted campaigns.                                                         

Universal IDs

A universal ID, a single identifier assigned to each user, allows passing anonymized information about that user to the approved partners. There are 1P data-based (LiveRamp, ID5, etc.), proprietary (TTD, Stroer, Criteo, etc.), and industry IDs. Though it’s widely tested, a universal ID requires email addresses of users which collection could be definitely challenging.  

Contextual Advertising

Contextual advertising is based on keywords retrieved from the page content where topic-based targeting grants advertisers control over ad placement as well as ensures brand safety. This is an effective way to show relevant ads without collecting 3P data.

Smaato’s holistic approach

At Smaato(Now part of Verve Group), we’ve been building data cohorts and audiences on the basis of 1P data from in-house gaming studios, 2P data shared by our web, in-app and CTV publishers, and 3P data received from data providers and shaping it by means of advanced targeting options (geo segments and geo-fencing, behavioral, contextual and privacy targeting).

Mostly, it’s been centered around our contextual ad technology. This includes Moments.AI™, which focuses on real-time delivery to the freshest URLs and most relevant content. Our contextual toolbox also contains ATOM (anonymized targeting on mobile), a pioneering privacy-first targeting product based on AI algorithms.

Alongside data and technology, we’ve been actively measuring performance via CPM, CTR, and VCR where personal data is not needed.

Thus, even with our strict adherence to and adoption of all data regulations as well as bracing for cookies and IDs to crumble, we’ve been seeing a high potential to deliver effective omnichannel campaigns for marketers as well as to add value to the ad monetization of publishers.

Most searched questions

What are cookies?

What are the alternatives if cookies are removed?

Most searched queries

Cookies

Cookieless world

ID

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Mar Tech

Best Practices Guide: Navigating Omnichannel Retail Successfully in Asia

customer

Written by Marlene Vicaire on Digilah (Tech Thought Leadership).

Omnichannel retailing has evolved into a pivotal strategy for success in today’s dynamic consumer landscape, particularly in Asia. Retailers in this region are increasingly adopting this approach to provide seamless shopping experiences across diverse touchpoints. This comprehensive guide compiles insights gleaned from industry leaders and experts, supported by recent research findings:

Understanding Omnichannel Retailing

Defining Customer-Centricity: In Asia, 78% of consumers expect companies to personalize their shopping experience. Omnichannel strategies cater to this demand, aiming to meet the unique needs of this interconnected consumer base.

Bridging Online and Offline Expertise: Statistics in Asia show that 63% of consumers prefer to use both online and offline channels while shopping. Understanding market dynamics, especially dominant players like Alibaba and marketplaces in APAC, becomes crucial. Models like direct-to-consumer (D2C) channels, such as Razer’s, facilitate direct customer data acquisition and address evolving market challenges.

Elevating Customer Experience

Seamless Integration: Research in Asia indicates that 82% of consumers prioritize a seamless shopping experience. Strategies like pop-up stores effectively merge digital and offline experiences, embodying the successful “Online to Offline” strategy.

Enhancing Mobile Channels: Asia boasts a significant mobile commerce presence, with mobile transactions contributing to 60% of e-commerce sales. Advanced user experience analysis tools like Contentsquare are instrumental in comprehending and optimizing consumer behavior across mobile apps and websites.

Embracing Sustainability and Ethics

Integrating Eco-Conscious Practices: Reports in Asia suggest that 67% of consumers are willing to pay more for sustainable products. Yves Rocher’s shift to eco-friendly alternatives showcases the potential environmental and cost efficiencies in sustainable practices within omnichannel strategies, resonating well with Asian consumers.

Leveraging Technology for Personalization

Data-Driven Personalization: Leveraging customer data, market insights, and collaborations with tech giants like Google and Meta enable retailers in Asia to tailor offerings based on regional preferences and behaviors, aligning with the diverse and unique demands of Asian markets.

Maximizing Social Media Impact

Direct Customer Interaction: In Asia, social media plays a significant role in shaping consumer behavior, with 56% of shoppers using social platforms for product research. Live streaming and social commerce serve as effective tools for direct customer engagement, enabling interaction and feedback collection in this region.

Monitoring Performance and Strategy Adaptation

KPIs and Performance Analysis: Defined KPIs and rigorous analysis of campaigns are critical in Asia, where companies with well-defined KPIs are 65% more likely to meet their objectives. This region’s market dynamics necessitate constant monitoring for ongoing performance enhancement.

Crafting Global Omnichannel Strategies

Understanding Local Markets: Asia’s diverse consumer landscape requires adapting to local consumer profiles, purchasing behaviors, and cultural nuances. Localization of content and strategic partnerships are instrumental in embedding brands in the intricate and varied consumer habits across the region.

Addressing Challenges in Specific Markets

Navigating APAC Markets: With unique challenges like marketplace dominance, educating partners, fostering relationships, and aligning operational tools become vital for successful navigation in these diverse markets in Asia.

Conclusion

In essence, adopting omnichannel strategies presents both challenges and opportunities for retailers in Asia. Success hinges on adapting to the diverse needs of Asian consumers, leveraging technology effectively, prioritizing customer experience and sustainability, and overcoming region-specific hurdles in this ever-evolving retail landscape.

Most searched questions

What is omnichannel retailing?

How is omnichannel retailing customer centric?

Future of omnichannel retailing?

Most searched queries

Omnichannel

Sustainability

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Fin Tech

Transforming Financial Literacy: A Digital and Tech Journey

Written by Hritik Rajora on Digilah (Tech Thought Leadership).

In the fast-evolving landscape of technology, my journey over the last five years in the startup realm dedicated to making India financially literate has been nothing short of transformative.

As the founder of Stock Tutor platform a mission-driven initiative, my commitment to providing valuable insights into the stock market with the right approach has been significantly enhanced and challenged by the relentless march of digital and tech advancements.

The Digital Revolution:

The advent of digital technology has been a game-changer for our startup’s mission. Five years ago, our approach to financial literacy was primarily reliant on traditional methods like in-person workshops and printed resources.

However, the digital wave has reshaped our strategies, enabling us to reach a broader audience more effectively.

1. Online Learning Platforms:

The rise of online learning platforms has allowed us to extend our reach beyond geographical constraints. With a plethora of reliable resources available at our fingertips, we’ve been able to create comprehensive and interactive courses on the stock market.

This shift has democratized financial education, making it accessible to anyone with an internet connection.

2. Data Analytics for Personalized Learning:

Tech-driven data analytics has empowered us to provide a personalized learning experience. By analyzing user interactions with our platform, we can tailor content to individual needs, ensuring that each learner receives information at their pace.

This has significantly improved engagement and retention rates among our audience.

Overcoming Challenges:

While the digital transformation has brought about numerous benefits, it has not been without its challenges.

The pace at which technology evolves demands constant adaptation, and staying ahead of the curve has been a continuous endeavor.

1. Cybersecurity Concerns:

As we transitioned into a digital-first model, cybersecurity became a paramount concern. Handling sensitive financial information requires robust security measures to protect our users. Implementing and maintaining state-of-the-art cybersecurity protocols has been an ongoing challenge, demanding constant vigilance and investment.

2. Tech Skill Gap:

The rapid evolution of technology has highlighted the need for a workforce equipped with relevant tech skills. Bridging the gap between traditional financial expertise and digital acumen has been an ongoing challenge.

Investing in training programs for our team has been crucial to staying competitive in a tech-driven landscape.

Leveraging Thought Leadership:

In the pursuit of our mission, establishing thought leadership has been instrumental. By staying at the forefront of industry trends and technological advancements, we have positioned ourselves as pioneers in the intersection of financial literacy and technology.

1. Educational Technology Partnerships:

Collaborating with educational technology companies has been a strategic move. Partnering with tech innovators has allowed us to integrate cutting-edge tools into our platform, enriching the learning experience for our users.

These partnerships have also enhanced our credibility in the industry.

2. Content Innovation:

Embracing technology has opened up avenues for innovative content delivery. From virtual reality simulations of stock market scenarios to gamified learning modules, we have explored diverse ways to make financial education engaging and effective. This commitment to innovation has set us apart as thought leaders in the space.

The Future of Financial Literacy:

Looking ahead, the digital and tech journey in the financial literacy space promises even more exciting possibilities. Emerging technologies such as blockchain, artificial intelligence, and augmented reality hold the potential to revolutionize how we educate and empower individuals in the realm of finance.

1. Blockchain for Transparent Transactions:

Exploring blockchain technology can bring transparency to financial transactions.

By incorporating blockchain into our curriculum, we aim to educate users on the decentralized and secure nature of this technology, fostering trust in financial systems.

2. AI-Powered Financial Advisory:

Harnessing the power of artificial intelligence for personalized financial advisory services is on our roadmap. Integrating AI algorithms can provide tailored investment recommendations based on individual risk profiles, making financial decision-making more informed and accessible.

In conclusion, the digital and tech journey has been instrumental in reshaping our startup’s mission to make India financially literate.

The advantages of online platforms, personalized learning, and thought leadership have propelled us forward, overcoming challenges such as cybersecurity concerns and the tech skill gap.

As we look to the future, embracing emerging technologies will further enhance our ability to empower individuals with the knowledge and skills needed to navigate the complexities of the stock market and financial landscape.

Most searched questions

What is Stock Tutor?

What are stocks?

Most searched queries

Stock market

Financial literacy

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Web 3.0 Tech Edu Tech

BLOCKCHAIN AND WEB3: A NEW ERA FOR LIBRARIES

block chain

Written by Alison Alexander on Digilah (Tech Thought Leadership).

An analysis of how blockchain and Web3 technologies can revolutionize library services and operations.

As a thought leader in enhancing public services through adoption of the evolving technology of Web3 tools, Blockchain, AI, Metaverse, and Crypto.

Libraries at the Forefront of Technological Adoption

Today I thought I would write about a specific local government resource that all politicians, community members feel passionate about – especially when the point is raised about potential closure to save money.

The community resource I am referring to is the Library

Blockchain and Web3: A New Era for Libraries

I believe that the integration of blockchain and Web3 technologies offers a tantalizing glimpse into a future where libraries are more accessible, secure, and democratically managed than ever before.

So a few thoughts on how the new technologies could transform our beloved public libraries.

Decentralized Access to Information – imagine a library system where access to information is not governed by a single authority but distributed across a network, ensuring democratic access to even the rarest texts.

Blockchain can make this a reality, providing equitable access to all, a step forward in democratizing knowledge.

Digital Identity and Privacy – in our data-sensitive world, blockchain can reassure library users that their personal information remains secure and private.

By creating secure digital identities, libraries can offer a wide range of services without compromising user privacy.

Enhanced Cataloguing and Metadata Management – Blockchain’s ability to maintain tamper-proof and up-to-date records can revolutionize how libraries catalogue their resources.

This means more efficient resource management and easier discovery for users, streamlining what has traditionally been a complex process.

Digital Asset Management – the transparent, immutable nature of blockchain is perfect for managing digital assets.

It ensures that digital books and resources are tracked effectively, respecting digital rights, and ensuring fair compensation for creators.

Smart Contracts for Streamlined Operations – from issuing library cards to managing book loans, smart contracts can automate and simplify library operations.

These contracts, embedded with the terms of agreements, can significantly reduce administrative burdens, allowing libraries to focus more on service and less on paperwork.

Conclusion: Embracing Change for Community Empowerment

Community Engagement through Tokenization – Blockchain can also foster a more engaged community. By rewarding contributions like book reviews or workshop hosting with tokens, libraries can encourage active participation, creating a vibrant, collaborative environment.

Preservation of History – for historical and rare documents, blockchain offers an unprecedented preservation tool. By storing detailed information on a blockchain, libraries can maintain a permanent record of these documents, safeguarding our history for future generations.

Global Collaboration – blockchain facilitates unprecedented global collaboration. UK libraries could partner with international institutions, sharing resources and information more efficiently, and greatly expanding the resources available to patrons worldwide.

Education on Cutting-Edge Technologies – finally libraries have always been pillars of learning. Wouldn’t it be great to see them host workshops on blockchain and Web3 technologies, they can continue this legacy, helping to bridge the digital divide and bringing these advanced technologies to the forefront of public education.

I really think the potential of blockchain and Web3 in transforming UK public libraries is immense. 

I don’t think it is just about keeping pace with technological advancements but about reimagining what libraries can be in the 21st century: more inclusive, more accessible, and more integrated into the digital fabric of our society.

This article is not about revolutionize libraries for the sake of innovation, but for the enrichment of our communities and the preservation of our collective knowledge.

Most searched questions

What is block chain?

What is web3?

Most searched queries

Block chain

Web3

Education and Web3

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Ad Tech

Tackling the attention deficit, one impression at a time

Written by Hazel Broadley on Digilah (Tech Thought Leadership).

As consumers continue to be bombarded with up to 10,000 ads per day, the fight to gain real human attention has never been so rife. 

But as this figure rises – while attention spans remain the same – the chance of an ad being seen inevitably diminishes.

This results in what we call the attention deficit – something the ad industry is striving to overcome.  

But how do we begin to measure true attention, let alone improve it?

Combining viewability with attention

For years, the focus has been on standardizing metrics around how much of an ad is visible on screen and for how long, i.e., viewability. And this is still important, because after all, you can’t engage with an ad if you can’t see it.

But with the realization that ‘viewable’ does not equal ‘viewed’ (almost 35% of all programmatic display ads are ignored), it’s become clear that viewability metrics alone are not enough.

They are more like ‘hygiene’ metrics rather than predictors of quality. And that’s why we need to bolster this campaign insight with attention data. 

Steps to leveraging attention

As Rob Hall, CEO at Playground xyz explains, there are generally four steps to leveraging attention. First, you need solid research – from your own campaign data but also learnings from other brands who have tested the impact of different ad formats, content types, devices, channels or targeting strategies on attention metrics.

Second, once you’ve gathered this, you can use it to enhance your channel planning, by creating and scheduling campaigns that are predicted to deliver the best performance. 

Third comes the task of actually measuring attention, by tracking key attention metrics such as attention time, hover rate and touch rate on a mobile device, plus more traditional performance metrics such as CTR, bounce rate and conversion rate.

And finally, to have the best chance of engaging your audience in the long term, you need to be able to optimize in real time according to what’s working and what’s not. 

This kind of dynamic creative optimization (DCO), focused on attention, will be a key driver of campaign performance over the coming years. 

Using data across TV, desktop, tablet and mobile, we can measure a whole range of attention metrics. But perhaps the most prevalent is Attention Time.

Attention Time – the new metric in town

Attention Time is important in any campaign because it measures how long a user is physically eyeballing the ad.

Once you’ve measured this, you can then look at a host of other user activities, such as clicks, cursor position, touch rate, scroll rate and depth, audio on/off, volume etc. 

Measuring attention with eye-tracking data

As Lumen Research’s MD Mike Follett suggests, eye tracking data, used at scale across different channels, shows that “when users do look at an ad, it tends to perform really well”.

There are a number of attention technology partners on the market including Lumen, Playground xyz, Amplified Intelligence and Adelaide, that can help marketers determine true attention through two main types of eye-tracking measurement: proxy-based and gaze-based. 

When testing creative or context, gaze-based (or eye-gaze) metrics are generally thought to be a more accurate method than proxy-based metrics because they demonstrate that a user has actually paid attention to an ad. 

This data comes from vast opt-in panels of consumers allowing eye-tracking cameras to follow the path of their eyes across the screen as they consume the open web. 

By combining this with the other user activities above, you can get more granular with each impression, and optimise the ad creative or format more effectively.

Now is the time to tackle attention

When looking for an attention partner, be sure to ask them how they define attention (e.g. do they include all user actions?), what kind of eye-tracking they use (gaze-based or proxy-based data, or (preferably) both?), and how long they will apply optimization to ensure the most accurate measurement.

As the range of attention metrics grows, so too does the need for industry standardization of these metrics. 

But for now, there’s no time to waste in experimenting and A/B testing with different creatives and formats.

This way, you can get ahead of the curve before attention-first campaign strategies become mainstream and make every impression count. 

To read more from Hazel and her team, head to Lexical Llama

 Most searched questions

What is meant by attention deficit in advertising?

How do you tackle the attention deficit problem?

Most searched queries

Viewability

Attention deficit

Engagement

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HR Tech

Transformation through Learning

Written by Suresh Ramakrishnan on Digilah (Tech Thought Leadership).

Technology has played a key role in the way content is consumed across age brackets and more so in the corporate world. 

One just needs to type in a few words on a browser and there could be a million links on offer.

With AI and ChatGPT coming into the fray, the options have multiplied many folds.

The biggest change or rather the challenge one is faced with has been – how to quickly arrive at what one is seeking. The deluge of content and the sponsored ones at that has the potential to create confusion. Sometimes offer contradicting information too depending on the source. Information related to diet or simple medical diagnosis are classic examples.

At the corporate level too, the struggle to create specific learning interventions for problems either at the individual or group level is intense. 

The issues, just to name a few are:

     

      • Lower attention span among employees is a serious one to tackle. In the digital world we live in today, it is extremely difficult to remain focused and avoid getting distracted by mails, notifications, calls or messages.

      • The avenues to find content are one too many. The lucky one’s land on the content of their choice whereas most tend to lose track in the sea of answers thrown at them.

      • The big question of ROI – how does one measure effectiveness.

    How does one tackle lower attention span?

    The solution to this problem starts with the team lead. While giving regular feedback, the recommendation offered to upgrading one’s skill should have a specific roadmap.

    The starting point is to make the individual receiving the feedback realise that an intervention is necessary.

    The second step would be to educate or sensitise the individual on the path that has been charted out and the rationale behind creating the specific path.

    The third step would be to create milestones or check points to understand the pace or if any changes need to be made to make the learning more effective.

    Learning is purpose driven – It is up to the leaders / managers to define the purpose so that the individuals can visualise what they are likely to gain.

    The purpose is what helps one avoid distractions. The focus is high and regular feedback sessions iron out issues if any.

    How can one navigate through the deluge of content available at one’s disposal?

    Imagine if the individual spoken about in the earlier paragraph is told what to upgrade or upskill but has not been told where to find the content related to it.

    He or she would be hard pressed to keep track of the events / discussions / meetings happening in and around to get access to the relevant knowledge / skill. It could be a nightmare leading to frustration and lack of anything meaningful.

    This is where the L&D team can come into play and guide them through curated learning paths through several online service providers and ensure the journey does not start and stop online.

    There could be ample coaching / mentorship introduced at various levels and certain events / conferences that can help them with industry wide views. 

    The integrated approach makes learning fun and meaningful.

    Yes, there are ways of keeping track of the learning through all channels using blended learning techniques which are becoming extremely popular. Some prominent technology platforms enable this.

    The big question – effectiveness of learning?

    Most online learning platforms offer valuable insights through course completion rates, diligence in taking a course, before and after quizzes, NPS scores (measured through techniques like discussion threads, referrals to name a few).

    Curiosity in going beyond the learning path to seek additional information / knowledge. It requires a bit of ‘connecting the dots’ to produce a thorough analysis as focusing on one or few indicators however good, could be misleading.

    This brings ‘action learning projects’ into focus – where several stages are created to assess the individual’s knowledge and skill application in real time scenarios.

    The skills to be used would be those offered in the courses. The respective leaders / managers must spend quality time evaluating them and offering them suggestions wherever necessary.

    Technology – the great enabler

    The three points mentioned above lean more on human intervention, but one should not forget the role technology plays in ensuring the process is smooth.

       

        • Technology can help sequence learning; continuous assessment provides indicators of how well the concepts are assimilated.

        • There are creative ways to break the monotony using gamification. Content delivery can happen through videos, animations, and voice overs. The case-based scenarios entail a more broad-based solutioning approach. There are more than one way of analysing and solving problems and it is possible to guide them through this.

        • Remote teams can collaborate online and sharing knowledge / insights can happen in real time.

        • Learning can happen on the go and is device agnostic.

        • Leaders / managers can keep track of their team members and intervene at a point of their choosing.

        • Technology platforms have the best authors and content curators at their disposal and the dissemination can happen seamlessly across continents and in a language of choice.

        • Analysing learning at the individual level with great amount of detail is possible. This helps offer specific change one can bring about to make learning more effective.

      The focus on adoption rates on online platforms

      One gets to hear this across forums where the debates on adoption rates hits a crescendo.

      Presenting three crisp case studies of large and prominent companies and how they tackled this problem,

      Case study 1 – A hospitality giant with an impeccable record of service standards, ensures undertaking training is part of the KRAs of their employees.

      A quarterly evaluation tracks completion rates and application on the job. Increments and promotions are dependent on these too. One may ask if a carrot and stick method is a clever idea?

      Well, if you are accountable to certain service standards, compromises are not welcome. In that context, it is the right thing to do.

      Case study 2 – A large manufacturing company had hundreds of long serving employees, many among them were not well versed with online techniques.

      They combined physical sessions with online courses and the trainer guided them through the process. They opened a training area where individuals could undertake these sessions.

       They conducted such session across offices / plants and locations. The adoption rates were phenomenal.

      Case study 3 – A pharmaceutical giant created a reward mechanism (good one at that) for those who showed proper application of their learning through their action learning projects – where they suggested ways and means to tackle real problems that the company was facing.

      The employees received their recognition and the company benefitted from not only upskilled employees but unique ideas too.

      Will AI (artificial intelligence) change the way we learn?

      AI can help in three distinct ways:

         

          • Depending on your search or interest, AI can suggest more courses, relevant topics or reading material that can add more value to the knowledge you seek.

          • It has the power (when put to proper use) to lessen the workload of L&D personnel to curate a learning journey. This will include both offline and online techniques.

          • If metaverse indeed becomes a reality someday, you will have several virtual agents complementing the work done by physical trainers / coaches. The extent to which they can go to fetch the right material is unimaginable (future thinking)

        Conclusion

        While technology has enabled training deployment, there are aspects or rather subjects especially soft skills that, as of today, needs a discerning eye from L&D folks and team leads to suggest a personal intervention.

        Technology will have its limitations and may appear impersonal in addressing sensitive issues.

        No one knows when technology will exactly replace a human being in form and conduct and until that day comes, human interactions will rule.

        Most searched questions

        How does ChatGPT affect an individual’s learning?

        How does one tackle lower attention span?

        Most searched queries

        ChatGPT

        L&D

        For more info check out :  EduRiser Learning Solutions Pvt. Ltd

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        Categories
        Fin Tech

        Tech to help investors make the right decisions

        investments

        Written by Danielle Teboul on Digilah (Tech Thought Leadership).

        Technology has become so integrated in our day to day lives, I believe it has totally changed the way I do business. Not only this, but it has also helped my clients in gaining more knowledge and confidence in what they are investing in.

        This in turn, has helped me in my business, as I believe that knowledge is key to success. I am a Personal Wealth Manager who specializes in bespoke financial planning for clients in Singapore, blending personal and professional financial advice with all-important tax planning.

        I wanted to share with everyone that platforms and tools I currently use to help my clients, plus some tools that the everyday investor can use to successfully plan, visualize and research your investments and finances.

        FE Analytics

        This online platform is a complete game-changer for me. FE Analytics is more worthwhile for financial planners, investment analysts and others in the finance space.

        The subscription fee is quite substantial, but it is an invaluable tool. I use it to create portfolios for clients, review and project investments and compare their current portfolios with bespoke ones I have created for them.

        What I love about this platform is that it will gather global data, from companies like Bloomberg, Yahoo Finance and others of the sort, to compare key investment data points. To name a few such as performance vs. benchmark, volatility, risk and even ESG rating.

        Volatility and risk are an excellent thing to show to clients, as they can clearly see how erratic their investments are in comparison to their performance.

        In today’s ever-changing world, many of my clients are become more conscientious and circular economy-focused, so being able to show an ESG rating adds value to them.

        Even though an average investor may not have access to this platform, it is important to know that every legitimate investment will have a code, which can and should be easily found on websites, such as Yahoo Finance.

        So that clients can clearly see the funds’ performance, fees and charges, and have full transparency in information of the investment. If you cannot find this number, or there is no information online about your investment, this could be a red flag.

        OPAL Fintech

        OPAL is one digital business account for your business and financial needs.

        I really enjoy using this platform because it is a perfect visualization of a person’s goals, dreams, aspirations and current situation.

        All I have to do is input a client’s cash flow, assets, debt, and then discuss with them their financial goals. This may be plans for retirement, saving for a property, planning for a child’s education, or even leaving a lumpsum for their family when they pass on.

        The OPAL algorithm will assess their current situation, factor is real-life data, such as inflation, and project how likely it is for that goal to happen.

        Then, it can be tweaked and adjusted, showing multiple scenarios depending on how much the client is setting aside into investments.

        I often feel like, because financial planning is very numbers-heavy, people can find it difficult to visualize their goals clearly. I don’t have that issue with OPAL, because the graphics and projections perfectly paint the picture for the client.

        Budgeting Platforms

        But what if you do not have access to these paid platforms?

         I would first off recommend tracking your cashflow on a monthly basis and being conscious of your assets vs. debts.

        There are loads of budgeting apps that you can use. For example, DBS Online Banking has an interface that illustrates your monthly inflowing cash and outgoings.

        If you’d like something a bit more in depth, so that you can go through these figures with a find-toothed comb, I recommend apps like Zenmoney, Monny or Spendee; all of these (and one’s similar) are free and user-friendly for the consumer.

        Some will consolidate your spending habits into presentable data and graphics, others will incorporate some gamification in order to encourage you to hit your spending and saving goals.

        There are many on the market in Singapore, and you just have to play around and find whatever works for you.

        I prefer to use the DBS NAV Planner paired with an Excel spreadsheet, but others may prefer the other apps mentioned here.

        Stock Screener

        If you are investing in individual stocks, or if your portfolio comprises of equities, you can always use stock screeners to check key analytics like the market cap, yield and sector.

        You can also delve further into the figures and statistics, like viewing the past 5 years performance and other metrics.

        You can also check company announcements and financial statements, which is perfect for those investors that like to research in depth. For Singapore stock exchange, you can use https://investors.sgx.com/stock-screener.

        General Learning & Boosting Your Knowledge

        As I mentioned at the start of my article, knowledge is power.

        If you don’t have a basic level of knowledge, this is quite often the blockade that is stopping you from investing, which means that your money is being eroded by inflation.

         You may be concerned of misinformation out there, but don’t worry, there are many great, informative platforms you can use to educate yourself.

        The first is Investopedia, which is essentially a Wikipedia for all things money and investing. Here you can find simple to understand financial concepts, investment terms and even information on past historical events in the finance world.

        The Balance is a great website that hosts a wide range of information, from which loans give the best rates, what stock market apps are easy to use, to how to discuss finances with your children.

        This is really a font of knowledge and a go-to for anyone who just wants to get more clued up on finance. I would of course recommend keeping yourself up to date with news by checking out The Financial Times, Bloomberg and CNBC, as well as other credible finance media outlets.

        In conclusion

        In this world of technology, finance and investing have become accessible to the masses; what once seemed only for the super-savvy or wealthy, is now at the click of a button to almost everyone who owns a computer or smartphone.

        This readily available information is not something we should shy away from; these are wonderful tools we can use to do our own due diligence and ensure that we are planning our finances and investments correctly.

        Technology has pushed for a need for transparency in the finance sector, so what a better time to start investing! You have all the knowledge, resources, and tools to do so responsibly, and with some level of understanding.

        However, for those that are not as savvy, or for those that have a full schedule, you may not have the time to commit to constant research. I don’t blame you- if it wasn’t my full-time job I probably wouldn’t either!

        This is when you can lean on the advice of a professional, who will have all these tools at their disposal, with the added expertise and wisdom to help you navigate investing effectively in accordance with your risk tolerance and unique circumstances.

        (Remember that if you are struggling to find information available online of an investment, to tread lightly, as a lack of transparency may also mean a lack of legitimacy.)

        Most searched questions

        What are stock screeners?

        How helpful is using various technologies for investments and finance?

        Most searched queries

        Bloomberg

        Investopedia

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        Categories
        Logistic & Travel Tech

        EV Revolution in India: The next big thing

        EV

        Written by Tanya  Mittal & Daksh Sharma on Digilah (Tech Thought Leadership).

        India has set ambitious targets for electrifying its public transport fleet in this decade. 

        While this may be the beckoning of a new dawn, the transport sector in itself contributes for 13.5 per cent of India’s energy-related carbon-emissions. This leads to substantial increase in air pollution. 

        India faces two key challenges; first is improving its overall air quality. Second is transitioning to a decarbonized economy. 

        We need to start by addressing transportation-based emissions. We need to start deriving appropriate solutions in achieving electrification and switching to cleaner fuels.

        By 2030, Niti Ayog forecasts a high penetration of Electric Vehicle sales: for two-wheelers and three-wheelers (80%), four-wheelers (50%), and buses (40%). 

        An overall electrification of the transport sector can eventually improve air quality. 

        India has made a promise at COP26 to cut its emissions to net zero by 2070. This means achieving carbon neutrality and not adding to the amount of greenhouse gases in the atmosphere.

        To reach this target India must transform into a global hub for electric vehicles manufacturing.

        Step one in this process is to transition from sales of ICE-vehicles to 100% plug-in electric vehicles (EV). 

        The ICE-vehicles or Internal Combustion Engine vehicles are powered by gasoline or diesel fuels and emit pollutants which contribute to poor air quality.

        The Clean Energy Ministerial (CEM), which is a unique partnership of the world’s key economies to accelerate global clean energy, has announced a new campaign – EV 30@30. 

        This CEM campaign will certainly speed up the deployment of electric vehicles globally. This will target at least 30 percent new electric vehicle sales by 2030. India has joined this pledge. 

        It is equally important to consider the policies India has in place to usher in the so-called EV revolution at this stage.

        As part of the policy framework introduced in this regard, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) II scheme was adopted in 2019. 

        This was initially meant to give electric mobility a big boost in the country. This was approved by the Union Cabinet, chaired with a support of Rs 10,000 crore for a period of three years. 

        This scheme is the expanded version of the previous FAME India 1. FAME was launched on April 1st, 2015, with a total amount of Rs 895 crore. 

        By offering incentives upfront on the purchase of electric vehicles, FAME India Phase II aims to encourage faster adoption of electric & hybrid vehicle.

        By establishing the necessary charging infrastructure for EVs, which is very critical if e-mobility wants to make inroads in the country.

        As per Press Release by Ministry of Heavy Industries dated 09 July 2019, the phase one of the FAME scheme, has supported adoption of 2,78,000 EVs in different forms.  There is a total incentive of INR 343 crores.

        This year’s budget statistics also reinforce India’s focus towards green mobility. 

        The subsidy under the FAME scheme for fiscal 2024 is projected at Rs 5,172 crore, compared with the revised estimate of Rs 2,897 crore. 

        An increase in vehicle population also has contributed significantly to India’s air pollution. It has caused serious health issues due to high exposure to emissions (PM and NOx). 

        With the two-wheeler and three-wheeler population increasing at an unstoppable rate, switching to a public transport system becomes crucial. 

        In India, public transport remains a primary means of access to employment, community resources, health and other related facilities.

        An inclusive and integrated public transport system needs to be created to provide the same level of comfort and accessibility to people. 

        The bus sector provides employment opportunities and better access to mobility than the automobile industry. 

        Government of India grants subsidy to manufacturers who make 50% of the content in an EV through localised material.

        In the USA and UK market there are no such rules for subsidy grants. This policy makes manufacturing of EV’s difficult for new entrants in the market, mostly the electric vehicle segment. This segment is dominated by the developers who possess the capital to burn in manufacturing like TATA, Mahindra, JIO Bp (Charging Stations) etc. 

        Many stakeholders have highlighted the need of increasing concept of charging stations in office and retail spaces for better consumer experience. 

        The FAME–II policy focuses on setting up at least 1 charging station in 3kmx3km grid. It is not sufficient enough for the users if the end result of sales is actually met by 2028.

        Keeping these factors in mind, India needs to cautiously tread the road towards improvement of its public transport services. 

        Other steps should be to 

        (1) build confidence among users,

        (2) provide financial support to operators

        (3) realign investments in road infrastructure.

        India is the third-largest user of transport automobiles in the world. 70% of its transport energy needs are fulfilled by importing fossil fuels. 

        Latest forecasts from the Petroleum Planning and Analysis Cell indicate this heavy dependence on fossil fuels crimps our speedy transition to a clean fuel economy.

        As a solution, India must gradually shift to fuels which are import substitutes, cost-effective, indigenous and pollution-free. 

        In doing so, India recently switched to the world’s cleanest petrol and diesel i.e. Bharat Stage VI (BS VI) fuel from BS IV fuel in April 2020.

        With this, India began using fuel containing just 10 parts per million (PPM) of Sulphur. This is expected to curb airborne particulate matter, one of the major contributors of air pollution in the country.

        India has also introduced various transport policies in the past, which impacted vehicle exhaust emission. This has influenced the characteristics of the vehicles present in the fleet and their activity levels.

        Hence, curbing and reducing heavy polluting vehicles and scrapping old vehicles from roads is the need of the hour.

        India’s Vehicle Scrappage Policy was a revolutionary step taken in 2021 to remove unfit vehicles from roads and boost the electric vehicle sales to control air pollution levels.

        Integration of this policy can lead to high impact social gains like overall improvement of air quality in the cities, reduction of fossil fuel usage, and reduction in GHG emissions.

        The path to adoption of Electric Vehicle in the transportation segment of India will be a key factor that will drive them towards carbon neutrality.

        Policies related to it are fundamentally on the right track but due to the changing market scenario and demand the policy makers will have to adapt accordingly. 

        Create a fixed framework for the adoption and integration of incentives to the EV segment. This will enable manufacturing and upscaling at the estimated pace.

        Most searched questions

        How does an electric vehicle work?

        What type of batteries does an electric vehicle use?

        Most searched queries

        Clean Energy

        FAME

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        Categories
        HR Tech Med/Health Tech

        Need for Coaching to combat the always on work environment!

        coaching

        Written by Sophie Toth on Digilah (Tech Thought Leadership)

        The importance of having a safe place where everyone can find understanding and full attention. But how can we find a proactive way to address life and career challenges proactively in our always on world? How can we create an opportunity to encourage our colleagues and friends to talk about themselves with a professional?

        In digital media, many of us have strict targets to hit, travel and sometimes live on the edge when a big deal is about to be signed or delivered. This requires a specific stress management type and a mindset that understands goals beyond hitting revenue targets.

        These goals are essential for all of us to live our lives more meaningfully and have a high quality of life experience. Many have had signs of exhaustion or even burnout after a stressful time and needed to take shorter or longer time off from work to shift the focus to their SELF as opposed to constantly performing on a high level without finding a way to create a state of the family which most of the time referred as “work–life balance”.

        Racing to be the best and get our bonuses is just one side of the coin. We need to think about how these fears and negative thoughts create the feeling of guilt, and as we all know, guilt creates pain.

        Operational departments have different types of pressure. I call it the back-office syndrome. It means that they need to be capable of being the technical experts of the online campaigns, constantly train themselves, understand the issue and make decisions in absolute real-time.

        These professionals are continually racing with time, and a little glitch can significantly impact the company. Carrying this weight of responsibilities is not easy either, especially if they are the only experts in a global company without having a frank conversation with anyone who can understand them, and they can open up freely.

        Well, this is one reason I advocate for a coach approach rather than a mental health practitioner. I want to be there for people who struggle and have none to talk to because they fear losing their jobs.

        Coaching is not about good or wrong answers or thoughts; coaching is about finding the best possible outcome of situations, goals, etc..… by using the individual or team’s full potential for achieving these objectives. The other central aspect of having a coach is that you need an independent person who can mean a safe place to everyone.

        Coaching is about trust and willingness to listen to people who can be overwhelmed with work, technology and so on…

        In the last year, I have seen mainly two types of people in terms of their connection to the digital industry, which pushed me to write this article with my inner need to do something to care about the individuals behind roles and job titles.

        The two cohorts are:

        – Job seekers who try to create groups and support each other.

        – Workers who are primarily exhausted, overworked, sad to see their colleagues go, and possibly feel guilty that they weren’t part of the recent redundancy processes. These people are more likely to have anxiety and fear of the future, thinking about when they will be the next.

        This negative thought slowly poisons everyday lives and results in self-doubts, burnout and, eventually, time off from work.

        The modern online world must adopt a new mindset and approach professionally and how companies create a healthy, motivating environment for their workforce.

        Yearly budgeting and investment ideally have a space for team coaching or budget for individual coaching or mentoring programs.

        Many of us miss something in life or want to achieve grand visions and life goals, but these only stay as a “want” within our minds as we block them immediately with our limited beliefs.

        Let me tell you the secret of life: we can achieve our aspirations if we are ready for the change and all the work. Moreover, we all have the answers to the “HOW?”

        Coaches are now studying hard and have specialities they want to work with. This connection is based on a mutual rapport and has an entirely equal manner. As I say, live and breathe with the “coachee” without judgment during the client’s journey.

        Before I explain why coaching is essential for all of us, I want to clarify some crucial points.

        Coaching is not mentoring. The coach won’t tell you what to do, but she will guide you to use your resources and explore your hidden potential.

        Coach is not a medical practitioner; she focuses more on your inner balance, aspirations, and the healthy functioning between body-mind- and soul.

        If you want to start your journey to your better self with a coach, you must be patient and determined and progress at your own pace. There is no one-size-fits-all solution, as we are unique and unrepeatable.

        Now let’s talk about our fantastic but many times stressful, target-heavy industry and why I, as a digital media professional, decided to learn and became a coach.

        Well, I am an observer and a listener. When talking to my industry colleagues, I pay attention to words and nonverbal signs. During my 12+ years in the industry, I experienced many ups and downs, but since 2020, something has radically changed in our online world.

        After the pandemic, these changes and the new lifestyle created an overwhelming, fast and even more performance-focused world, with more restrictions and new ways of approaching online marketing. We also have less face-to-face and more virtual interactions that force us to adapt to a new lifestyle. Some of us had fewer issues, and others had more; this is why mental health became the forefront of almost every company.

        This is so much of a reactive way of treating one of the most difficult challenges and keeping employees and people safe with a healthy mind and thoughts. Well, this is how coaching as a proactive solution comes into place.

        First and foremost, listen and see, then seek an expert who can be the best asset to help achieve overall company effectiveness with compassionate leadership, creating a place for the employees where they can talk to an independent person who can understand, explore, and with the company on individual motivation or group achievements. A coach can also anonymously address employees’ wants and needs as a mediator.

        I see the future much brighter than digital is now.

        I want managers to become mentors, and I can use my coaching knowledge to guide many great professionals from all levels.

        Most asked questions

        What is the importance of mental health?

        What is the importance of coaching in stress management?

        Most asked queries

        Mental health

        Mentoring

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        Categories
        AI Tech

        Do you believe that AI will eventually replace humans altogether?

        AI will eventually replace humans altogether????

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

        Let’s try to understand the term first:

        💡What Is Artificial Intelligence?

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

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

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

        It is made of code not cells!

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

        💡The four A.I. types are:

        🧩Reactive Machines

        🧩Limited Memory

        🧩Theory of Mind(Exits only in theory)

        🧩Self Aware(Exits only in theory)

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

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

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

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

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

        Software engineers and data engineers are being recruited for AI support

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

        97% of business owners believe ChatGPT will help their business

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

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

        💡What can we do to adapt the process?

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

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

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

        Most asked questions

        What are the pros and cons of AI?

         Can AI take over the world?

         

        Most searched queries

        Generative AI 

        Machine learning

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        Categories
        Web 3.0 Tech Law Tech

        Pixels to Possibilities: Unravelling India’s Gaming Odyssey

        Pixels to Possibilities-gaming

        Written by : Ankita Sambyal on Digilah (Tech Thought Leadership

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

            1. Online Games

            1. Offline Games. 

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

              1. Game of Skill

              1. Game of Chance.

              1. A Mixture of Game of Skill and Chance.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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              Collaboration and Web3

               

              Written by Aman Bandvi on Digilah (Tech Thought Leadership)

              “Alone we can do so little, together we can do so much.” – Helen Keller

              Helen Keller emphasizes the importance of collaboration in achieving great things. Collaboration has been an integral part of human society since the beginning of time. We collaborate to achieve a common goal, to learn from each other, and to make progress. In the digital age, collaboration has taken on a new meaning with the advent of Web3.

              Web3 is the next evolution of the internet, where decentralization, transparency, and community-driven efforts are the norm. Web3 technologies, such as blockchain and smart contracts, have the potential to reshape how we collaborate and create value. In this article, we’ll explore how collaboration and Web3 are interconnected and how this synergy is shaping the future.

              Decentralized Collaboration

              One of the most significant benefits of Web3 is its decentralized nature. Traditional collaboration relies on centralized entities to facilitate communication, project management, and decision-making. However, Web3 offers a new paradigm where collaboration can happen in a decentralized manner, without the need for intermediaries.

              For example, decentralized autonomous organizations (DAOs) are emerging as a new form of collaboration. DAOs are decentralized entities that operate on the blockchain, where members can propose, vote, and execute decisions. DAOs are self-governed, transparent, and open to anyone who wants to join. This new form of collaboration enables community driven efforts that are not possible in traditional organizations.

              Trust and Transparency

              Another benefit of Web3 is trust and  transparency. Collaboration often requires trust among members, which can be challenging to establish in traditional settings. However, Web3 technologies enable trust through cryptography, consensus mechanisms, and smart contracts.

              For example, smart contracts are self-executing contracts that are programmed to execute automatically when specific conditions are met. Smart contracts eliminate the need for intermediaries and provide transparency and trust between parties. This level of trust and transparency can enable more efficient and effective collaboration.

              Value Creation

              Collaboration and Web3 can create new forms of value. In Web3, value can be created through decentralized applications (dApps) and decentralized finance (DeFi) protocols. dApps enable collaboration between developers, users, and other stakeholders to create new services and products. DeFi protocols enable collaboration between different financial services and create new financial products that are accessible to anyone.

              Web3 also enables new forms of incentivization through tokens and cryptocurrencies. These tokens can be used to incentivize collaboration and reward contributors for their efforts. This Aman Bandvi, v1 March 2023 new form of value creation can create more inclusive and equitable collaboration where everyone can participate and benefit.

              Case: Collaboration, Web3 and impact on the last-mile

              Collaboration and Web3 have the potential to create a significant impact on the last mile and offer value to government stakeholders. Web3’s decentralized nature, transparency, and community-driven efforts can provide an efficient and effective way to collaborate and create value for the last mile.

              The last mile is the final leg of the supply chain that delivers goods and services to consumers in remote or underdeveloped areas. Collaborative efforts can help bridge the gap and provide essential services to these areas. For example, DAOs can enable community-driven efforts that address local needs, such as water supply, healthcare, or education. These efforts can create new value for the last mile and improve the quality of life for people in these areas.

              Government stakeholders can also benefit from Web3’s collaborative efforts. Web3 technologies can provide transparency, accountability, and trust in government operations. For example, smart contracts can automate government processes, eliminate corruption, and provide transparency in government procurement. Additionally, DeFi protocols can provide a more inclusive and accessible financial system that enables government stakeholders to access financial services and create new financial products that serve their constituents better.

              Case: Web3, collaboration and education sector

              “Collaboration allows teachers to capture each other’s fund of collective intelligence.” – Mike Schmoker

              One example of how Web3 and collaboration have impacted education is the Open Learning Initiative (OLI) at Carnegie Mellon University. OLI is a Web3-based learning platform that leverages blockchain technology and smart contracts to create a more decentralized and community-driven approach to education. The platform enables students to learn at their own pace, with personalized learning paths that are tailored to their individual needs and preferences.

              OLI uses Web3’s token economy to incentivize collaboration and participation. Students are rewarded with tokens for their contributions to the platform, such as completing exercises or providing feedback on course content. These tokens can be exchanged for rewards such as access to premium content or discounts on future courses.

              OLI also leverages Web3’s decentralized governance model to give students a say in the direction of the platform. The platform is governed by a DAO that is owned and controlled by its members, giving students a voice in decision-making and ensuring that the platform is always evolving to meet their needs.

              The impact of OLI has been significant, with students reporting higher levels of engagement and satisfaction with the platform compared to traditional learning methods. By leveraging Web3’s collaboration and decentralized governance models, OLI has created a more personalized and engaging learning experience that is tailored to the needs of individual learners. This has the potential to revolutionize the education sector by providing a more equitable, inclusive, and effective approach to learning that is accessible to all

              Summary

              Collaboration and Web3 are transforming how we work and create value. Web3’s decentralized nature, trust and transparency, and value creation potential enable new forms of collaboration that were not possible before. This new paradigm offers exciting opportunities for innovation and progress. As we continue to explore the potential of Web3, it’s clear that collaboration will be at the heart of its success.

              Aman Bandvi

              Co-founder Ais Possible

              India Blockchain Alliance

              Emerging Technology Council

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