No more will you hear about Chatbots being the next big thing. They’re already here and here to stay! Top domains where Chatbots are proving beneficial are:

1.      Ecommerce and Online Marketing: Messenger Chatbots have higher open rates and click through rates than Email, as a result of which many online marketers have begun using Chatbots as a way of getting website visitors’ information. Redirecting the customer to the correct sales channel, content gamification and relationship marketing are additional benefits it brings to this domain.

2.      Customer Service: The best use of technology right now is in automating the easy questions that get asked over and over again with a live agent takeover whenever the bot cannot answer a question. When the bot is stumped, it automatically sends the questions to a live agent, listens to the answer and then learn how to answer such questions in future.

3.      Travel, Tourism and Hospitality: Bots in this space are being successful on a number of critical fronts- they increase revenue, increase customer satisfaction, increase engagement and brand loyalty and lower costs via automation.

4.      Banking, Financial Services and Fintech: First and foremost, bots can help warn you about issues and dangers with your bank account. Bots can give you suggestions on what to do with your money- it can give you a cost breakdown of where you are spending or how can you move money around in order to save more money. Banks are also using chatbots internally to help automate tasks.

5.      HR and Recruiting: Chatbots can engage applicants and pre-screen them and make sure they’re qualified by asking a few questions. They also help in easing the process of on boarding new employees.

What other uses could be coming next? Read more at:

By definition, Data Science is a multi-disciplinary field that uses scientific methods, algorithms and systems to extract knowledge from structured and unstructured data. It processes enormous volume of information to draw meaningful conclusion and help businesses grow and expand.

Some of the biggest advantages analyzing data can give to your brand include improving efficiency, cut costs, boost sales, better recruitment, identifying opportunities and targeting the right set of audience to name a few.

Focusing on the practical ideas, four ways you can use big data to raise brand awareness include:

1.      Personalization: Analyzing consumer related information helps in understanding their preferences on an individual level. You can customize offers so as to fit each user individually.

2.      Choose the most relevant marketing channels: Brand awareness largely depends on marketing strategy and the channels you choose to promote business. For instance, Instagram marketing may help you attract younger users while marketing on LinkedIn gathers business professionals.

3.      Create better content: Data analytics enables you to learn about the buying persona such as education, relationship status, professional status, personal interests, demographics, leisure time activities, etc.

4.      Quality reporting: Using data science you can figure out the strengths and weaknesses of the brand, website traffic, social media performance and many other features.

Have you ever thought about incorporating data science into your business strategy?

Details at: https://www.business.com/articles/drive-business-growth-with-analytics/

Internet of Things is described as a digitally connected universe of everyday devices which are embedded with internet connectivity, sensors and other hardware which allow communication through web. From health tracking Fitbits to Smart blackboards, IoT has made everything around us smart. On a smaller scale, it would be switching on a TV using your phone and on a larger scale planning smart cities with sensors all over.

Why is IoT so important?

The sensors installed are capable of sending information and/or receiving information and acting upon it. These are beneficial as they help improve and innovate lives of customers, businesses and society at large. Businesses have invested extensively in R&D to innovate and develop out-of-the -box products.

Read more at:  https://www.zdnet.com/article/what-is-the-internet-of-things-everything-you-need-to-know-about-the-iot-right-now/

In literal sense, a forest is an area full of trees. Likewise, in technical sense, a Random Forest is essentially a collection of Decision Trees. Although both are classification algorithms which are supervised in nature, which one is better to use?

A Decision Tree is built on an entire data set, using all the features/variables while a Random forest randomly (as the name suggests) selects observations/rows and specific features/variables to build several decision trees and then average the results. Each tree “votes” or chooses the  class and the one receiving the most votes by majority is the “winner” or the predicted class.

A Decision tree is comparatively easier to interpret and visualize, works well on large datasets and can handle categorical as well as numerical data. However, choosing a comfortable algorithm for optimal choice at each node and decision trees are also vulnerable to over fitting.

Random Forests come to our rescue in such situations. Since they select samples and the results are aggregated and averaged, they are more robust than decision trees. Random Forests are a strong modelling technique than Decision Trees.

Read more at: https://www.analyticsvidhya.com/blog/2020/05/decision-tree-vs-random-forest-algorithm/

Cyber security is evolving, and it is not advisable not to follow the techniques that you have already used to mitigate risk. This article link gives you some suggestions to get your company well-equipped for 2020 and all the threats it could bring. They are: Implementing AI Into Your Strategy, Keep All IoT Devices Secured, Teach Employees About BEC Phishing Scams etc. Read more at: https://it.toolbox.com/guest-article/6-it-cybersecurity-tips-for-2020

Nowadays, managed service provider or MSP is becoming important as several organizations outsource IT processes. It is a good sign, but you need to have a MSP contract and must know what kind of information to be included. This article tells us about six things that you need to include in an MSP contract. Read more at: 

https://it.toolbox.com/articles/6-things-to-include-in-your-managed-service-providers-contract

Marketers are discovering different ways to utilize location marketing but, the most prevalent is mobile geolocation marketing. According to a report, it is found that almost 9 in 10 marketers found location-based advertising and marketing resulted in higher sales, further supported by growth in their customer base and higher customer engagement. This article explores different types of mobile location-based marketing. Read more at: 

https://www.business2community.com/marketing/location-based-marketing-on-the-rise-02242118

It is a fact that Internet of Things or IoT is becoming predominant in business as you can gather data to analyse at real time. But, if it is not used diligently, it will be a cost and not an asset to the company.  Traditional business intelligence shows only IoT data from the past but with predictive analysis tells what to do with that data now. This article tells us some common useful applications of predictive analytics on streaming IoT data. Read more at:

https://it.toolbox.com/articles/4-useful-applications-of-predictive-analytics-on-streaming-iot-data

Business always involve uncertainty even if the economy is conducive to do business as clients come and go, competitors enter and leave the market; leases are not renewed, technology changes overnight. This article give us valuable tips on how to manage business uncertainty easily. Read more at: 

https://www.business2community.com/strategy/5-tips-on-managing-business-uncertainty-02242242

It is a fact that ERP or resource planning platform can manage the key business activities like production and supply chain operations. But, nowadays, this ERP system when integrated with machine learning technology, also plays a vital role in keeping your customers happy. And this ERP system can have greater control over the products they eventually receive, thus cutting down on errors. Read more at:  

https://it.toolbox.com/article/how-erp-can-help-boost-your-customers-satisfaction

Many businesses spend a ton of time, effort, and budget to get visitors to B2B website but do not put any effort into staying in front of a website visitor once they leave the website.  Building brand awareness is important as creating brand awareness is critical to the success of your business. There are many reasons as to why it is significant to create brand awareness. Read more at: 

https://www.business2community.com/b2b-marketing/7-b2b-marketing-strategies-to-build-brand-awareness-02233409

According to a research, it was found that 58% of companies do not even believe performance management is an effective use of time. And that is why nowadays, organizations are continually updating their performance management systems to achieve better results and improve the process. This article explores some of the most common trends that can add value if implemented effectively. Read more at: 

https://www.business2community.com/leadership/8-tips-for-improving-performance-management-02234109

Nowadays, the internet is transforming the way companies find and reach their customers. It is a fact that these small businesses are no longer reliant on billboards and television ads to gain visibility as they can launch powerful, focused campaigns to target their specific niche in the market. In a study it was found that organic searches are favored 94% of the time, and according to another research, the first page of links receives 92% of all clicks. This article explores why a strong search engine optimized content strategy is needed for small businesses. Read more at : 

https://www.business2community.com/seo/seo-for-startups-how-your-business-can-benefit-02233145

The Artificial Intelligence industry is growing at an exponential rate and the artificial intelligence market is projected to grow in value to $191 billion by 2024 with a CAGR of 37%. Artificial industry has the capability for machines to make decisions based on logic, data, and information from the past is impacting several industries. From self-driving vehicles to chatbots, thus transforming the way business is done on a global scale. Read more at: https://www.business2community.com/business-intelligence/artificial-intelligence-is-redefining-these-5-major-industries-02232853

As the phrase goes, “everything that can be digitized, will be digitized”, is fast replaced by “If something can be run by algorithms, it will be”. Algorithms are supposed to be performing the following tasks: • Reading resumes: With natural language processing, resumes can be read faster and with more careful eyes. • Using spreadsheets: Soon the analysis made by experts using spreadsheets would be taken over by AI. • Hiring consultants: Since the analysis will all be done by algorithms, hiring consultants is really not needed as before. Hence, for coping up with the changes, one needs to get acquainted with the programs, rent a machine learning expert to design algorithms or make it on your own and invest for the future by learning new software. Read more at:https://www.experfy.com/blog/algorithms-are-replacing-leadership-strategies

NASA has used AI in human spaceflight, scientific analysis and autonomous systems. Multiple programs like CIMON, ExMC, ASE, Multi-temporal Anomaly Detection for SAR Earth Observations, FDL, robots and rovers are currently available at NASA. It is now working on overcoming the barriers that once blocked it from innovations in AI and Machine Learning. Although Machine Learning has been in existence for 60 years, benefits couldn’t be reaped by NASA because according to Brian Thomas, a NASA agency data scientist and program manager for Open Innovation, they are being held back. Read more at: https://www.aitrends.com/ai-world-government/how-nasa-wants-to-explore-ai/

Mental health crisis is a matter of huge concern in recent times where one-fourth of the adult population is estimated to be affected by mental disorders. Depression alone affects roughly 300 million people around the globe, as stated by World Health Organization. Artificial Intelligence (AI) offers multiple opportunities to people suffering from mental disorders. Computational Psychiatry and specialized chatbots for counselling and therapeutic services are the two emerging fields where AI is expected to yield the biggest benefit. Computational Psychiatry combines multiple levels and types of computation with multiple types of data to improve understanding, diagnostics, prediction and treatment of mental disorders. Besides, AI can help researches discover physical symptoms of mental illness and track within the body the effectiveness of various interventions. Moreover chatbots provide immediate counselling services to the patients at a cost which is lower than seeing a psychiatrist or psychologist. This has expanded the coverage to a broader circle of people who require treatment. Thus the development of AI for mental health promises better access and better care at a cost that won’t break the bank. Read more at: https://datafloq.com/read/artificial-intelligence-for-mental-health/6558

Machine learning is progressively transforming the way we work, live and interact. It is effectively applied in almost all sectors with beauty industry being no exception. Machine learning can help the beauty industry in several ways. It is expected that computer vision would help recognize facial features, analyze the data obtained and come up with a prediction or conclusion about the appearance. At present, data scientists are working on AI systems that have the ability to understand human face. If it works out, we no longer require to physically test out new looks and products. Data analysis will lead to better cosmetics. Leveraging data means better, long-lasting formulas. Nowadays, startups and industry leaders are offering machine-based advice on finding one’s personal style. For instance, Sephora and Mira uses worldwide tests and computer vision helping customers choose the perfect combination of foundation, complexion, etc. Some businesses like Olay have developed applications to determine skin needs of customers and come up with personalized products. Thus Artificial Intelligence with its machine learning and computer vision can go a long way in ensuring customer satisfaction. Read more at: https://medium.com/sciforce/machine-learning-changing-the-beauty-industry-ab3a2fa0aaf