听At 麻豆原创 Now, the second flagship customer event in India this year, 麻豆原创 unveiled new midmarket AI research revealing 96% of Indian organizations with between 250 and 1,500 employees are prioritising generative artificial intelligence (Gen AI), compared to 91% in the rest of the world.

The survey questioned 12,003 businesses around the world including 800 in India. Commenting on the research, Manish Prasad, President, and Managing Director of 麻豆原创 Indian Subcontinent, said, 鈥淚ndia鈥檚 midmarket businesses are the backbone of the nation鈥檚 economy. AI is a game-changer for these companies, offering agility, and actionable insights, and helping them thrive in a digital economy. Working with a technology partner like 麻豆原创 is critical because AI is already built into our applications that power the most critical business processes. Only then can Indian businesses of every size make the promise of Business AI a reality.鈥�

Rajeev Singh, Vice President and Head of Midmarket, 麻豆原创 Indian Subcontinent, further added, 鈥淎I has the potential to empower organizations with intelligent insights, automation, and tools, allowing them to compete on a global scale. Today, more than 27,000 customers globally are already using 麻豆原创 Business AI, recognizing the impact on enhancing operations and enabling real-time decision-making. For example, Indian customers like PGP Glass, Suzlon Energy and many more have already embraced the transformative potential of AI in their businesses.鈥�

Indian midmarket businesses are prioritising AI

• Indian midmarket businesses are prioritizing the implementation of Gen AI at a moderate or strong priority (96%), ahead of the rest of the world (91%).
• Adopting Gen AI (66%) only trails preparing for cybersecurity threats (67%) as Indian midmarket businesses鈥� strongest organisational priority in 2024, and ahead of making business operations more environmentally sustainable (65%).

Organisations in India place a higher priority on AI to transform business than rest of the world:

• Over half of Indian midmarket businesses surveyed place a high priority on AI to transform privacy and security (55%) and improve decision-making (52%), ahead of business from the rest of the world (50% and 49% respectively).
• Indian midmarket businesses are also putting a high priority on AI to improve training and skills development (51%), and customer experience (50%), and to optimise supply chains and logistics (50%).

听Indian businesses are already implementing AI today:

• Indian midmarket businesses are adopting AI faster than the rest of the world, as, 49% of Indian respondents say they are using AI for forecasting and budgeting to a strong degree compared to 40% of the rest of the world. In comparison, 48% of Indian companies use AI to develop marketing and sales content (41% rest of the world).
• Other uses of AI in Indian midmarket businesses include gathering market intelligence (47%), monitoring regulatory compliance (47%), and monitoring cybersecurity threats (46%).

Talent is the biggest risk to use of AI

• The biggest risk Indian midmarket businesses see when it comes to the use of AI is finding, attracting, and retaining talent with AI skills (39%).
• Data is the next biggest risk, with lack of transparency behind AI results (36%), acting upon incorrect information (36%), and insufficient data size and quality for AI models (33%) among the other risks identified.

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The potential of AI to optimize business is reflected in its growing popularity.听听predicts that at least 90% of new enterprise apps will insert AI technology into their processes and products by 2025. In the Asia-Pacific region (excluding Japan), IDC says that the need for enterprises to apply AI to improve operational resilience and income generation has听听because of the pandemic.

This brings us to the question: How can AI enable digital transformation in modern-day businesses?

With the help of AI, businesses can make better use of the data they collect and use it to improve their products and services, as well as to develop novel initiatives. Advanced analysis helps gain intelligent insights from an enormous volume of data, turning it into a competitive advantage. This helps businesses make complex yet accurate decisions in different fields, ranging from customer experience to supply chain management.

• Customer experience- AI helps match and exceed customer expectations

AI has gained prominence in the areas of customer service and customer experience. Businesses, particularly those in the marketing sector, can use AI to better understand their customers’ requirements and preferences and create accurate customer profiles. AI also helps understand customer behavior trends, purchasing history, and digital channel involvement.

Today鈥檚 customers need personalized experiences and will look for better alternatives if they feel that a brand cannot understand their needs. AI is critical for swiftly accessing customer information so that personalized experiences can be created and reinforced. Businesses who understand this have invested heavily in digital tools that allow them to understand the customers鈥� psyche and expectations at every touchpoint. According to a recent听听study, more than half of the large organizations polled said that improving customer experience was the most important driver for AI deployment.

Cognitive Process Automation also plays a significant role here. Using AI technologies such as Machine Learning,听Natural language processing and Advanced Analytics, systems can process abstract data and use that to make inferences, assumptions, expand their capabilities and learn. This technology is being used to create 鈥榙igital co-workers鈥�, enabling the organization to become lean and mean without compromising on superior customer service.

• Supply chain management- AI helps in reducing risk, increasing agility

Market volatility and changing consumer demands have made clear the need for agility and flexibility in supply chains. While modern-day supply chains are becoming increasingly difficult to manage, the demand for a sustainable and resilient supply chain has made the role of supply chain professionals more complex.

AI-based tools and solutions drive enterprise-wide visibility into all aspects of the supply chain. They weed out deep-rooted inefficiencies and uncertainties, bring in powerful optimization capabilities required for more accurate capacity planning, and promote safer working conditions. No wonder then that a听听found that six out of ten supply chain professionals expect to use AI extensively in their operations in the next five years.

• Sales and marketing – Predicting the future is easier with AI

AI is the primary enabler for concepts such as predictive modeling, predictive data and forecasting. Combining CRM tools with the power of AI can enable businesses to analyze and detect patterns in customer sales data and identify, score and reach out to high-quality leads. Sales and marketing teams can also use AI-powered platforms to draw meaningful analytics and craft meaningful engagement strategies. And these tools are not replacing the human workforce; instead, AI is reducing repetitive work and freeing up human personnel to take on more intelligent tasks.

• Operations 鈥� AI provides actionable intelligence without burdening staff

By integrating AI algorithms into operational programs that support organizational activities, repetitive activities can be automated while information analysis will be more reliable and quicker. The time to search and process data will be cut down, and more data can be processed to inform judgments. This makes it easier to boost productivity and free employees to focus on higher-level tasks, improve operational excellence, customer happiness, and staff satisfaction.

• Cybersecurity- AI can minimize threat surface and keep data safe

Lately, bad actors have stepped up the use of AI in their cyberattacks, making these threats more sophisticated and dangerous. Traditional cyber-mitigation strategies can’t compete with such advanced methods. It is here that AI comes into play, as a key factor for improving organizational defense. No wonder AI in cybersecurity was one of听听top nine security themes for 2020.

In the fields of cybersecurity and threat intelligence, AI has a wide range of applications.

• Facial and speech recognition, spam or phishing detection, and virus detection are the most popular use cases.
• Pattern recognition technology can identify regulated personal data in need of protection.
• Unsupervised machine learning can categorize websites and identify high-risk sites.
• Unsupervised machine learning can find near-duplicates in phishing and spam attempts.

Selecting the Ideal AI-Based Solution

Putting AI at the heart of your company streamlines your daily tasks and transforms the way you do business, both in terms of learning and performance. Yet, investing in AI is a risky affair. It requires significant time, money, effort and a deep understanding of the multiple options available in the market today. However, to harness the maximum potential of AI, organizations need a solution tailored to their wants and needs. 麻豆原创 offers an array of听听that can be customized to meet these specific business needs of organizations and strengthen your competitive advantage in the digital age.

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What is the future of IoT Services?听

The growth of IoT technology stems from a constant need to reduce human involvement with machines. From metals to the medical industry, from warehouses to homes, the tools and gadgets around us are being enabled to better understand how they are being used. This also allows enterprises to move to a predictive instead of a reactive mode, saving costs and increasing operational efficiency, among other benefits. Consider this: In a听听conducted at Port of Qingdao in China, it was found that up to 70 percent of labor costs can be saved with an IoT-enabled 5G automation upgrade compared to a traditional harbor. They found that IoT-enabled smart harbors with automated ship-to-shore (STS) cranes operated from a control center could lift containers over a 5G connection.

These are just a few examples of the advancements that IoT has made across different domains. IoT services enable greater automation, better user experience, seamless adaptability of devices, and reduced human interference in the overall workflow.

Here are some interesting use cases around IoT:

• Healthcare and IoT

The pandemic has accelerated the adoption of IoT Services. With Artificial Intelligence (AI) learning and monitoring and the development of Healthcare IoT (H-IoT) systems, opportunities for improved personalized healthcare with lower costs and eventually, better facilities for all have been made possible.听, the value of the healthcare IoT sector is expected to touch nearly $177 billion by 2026. Emerging IoT-based applications like non-invasive body-worn and implanted devices, actuators, intra-body networks of implants, and biomedical therapies in new healthcare applications can save and significantly improve the quality of life. 听is also being conducted on device and network co-design solutions. These are expected to integrate medical procedures with even more complex cyber capabilities using intra-body and extra-body communication systems based on IoT.

Coupled with IoT, these innovations have become useful not just for diagnostics and surgery, but also in data analysis for personalized human health monitoring, including intra-organ functions and ailments, biomedical therapy, remote surgery, and biometric authentication. Besides these, IoT has found use in post-operative care as well through practicing defined protocols. All this is being done through methods such as

• Fluidic diagnostic monitoring- This is a continuous and real-time monitoring of the characteristics and levels of various fluids in the body using IoT. Alerts are provided for any abnormalities in the fluid levels immediately, ensuring immediate treatment.
• Non-invasive sensors- These IoT-enabled sensors continuously monitor a patient’s condition remotely and in real-time. Non-invasive sensors include pulse oximeters, transcutaneous electrodes for Po2 and Pco2, and transcutaneous bilirubin monitors.
• Wearables (electronic health sensors) – Several wearable devices, such as smartwatches paired with smartphones, can allow for听personalized monitoring听of a person鈥檚 condition. These IoT-powered devices can monitor heartbeat, body temperature, blood pressure, blood sugar levels, and oxygen levels in the body.
• Implanted health sensors- Using IoT data, these sensors enable in-situ monitoring of the physiological conditions of a patient. IoT has proven听especially useful听for such devices. This is because the sensed measurements, including drug volumes and actuating directives, need to be communicated to an external monitoring station and body devices embedded elsewhere. For example, it could be on the body’s surface or even as implants in other parts of the body. One of them or a combination of these IoT-based methods has revolutionized healthcare.听听personalized, reliable, and secure solutions can detect health risks from diseases. Some conditions for which IoT technologies are being used include cardiovascular diseases, diabetes, oncological issues, kidney diseases, and Parkinson鈥檚 disease.

Eldercare has for long been an understudied and logistically difficult field of medicine. This is because of the requirements for continuous human intervention. But with the IoT, caring for the elderly can now be managed better. IoT-based tools like听听(AAL) and intelligent devices can remove the need for continuous human presence with the elders. Telemedicine and smart wearables devices have also made better care available for them. These also use AI to track daily routines, monitor health parameters and notify healthcare authorities should problems arise.

• Future of the workplace and IoT

Restrictions are easing now as the pandemic abates, but the hybrid working norm means companies will continue to use technologies and professional automation tools to get work done remotely. These include video conferencing tools, advanced analytics, data monitoring, work processes, and schedules. All these will help to create a collective intelligence that increases efficiency. Even traditional manufacturing companies that require a physical presence will use IoT data to monitor factory floor processes remotely.

IoT connectivity also addresses听听across various industries, enabling innovative services for consumers and enterprises. Time-critical needs include processes requiring the delivery of data and information within specified time duration and certain specific reliability levels.

Maintaining office spaces, warehouses, and other resources can also be done with the help of IoT tools like

• Advanced shipment notification
• Maintenance, replenishment, slotting, and rearrangement of inventory
• Transportation wave management
• Packing control
• Process monitoring

IoT allows managing high-volume warehouse operations through applications such as on-premise and cloud deployment, fully integrated quality, production, and track-and-trace processes and direct control of warehouse automation equipment. By integrating complex supply chain logistics with warehouse and distribution processes, IoT Services allows for remote management of workplaces.

Working from home has also been made easier with the home听听solutions like sensors, microcontrollers, and LAN or wireless communications. They help stay in touch with the workplace while making homes more enjoyable to live in.

Home automation systems based on IoT can also be used to command or control devices. Wireless technologies, predictive engines, and Natural Language Processing (NLP) have made it possible to control the home environment from a smartphone, allowing an unhindered work from home experience. These applications can monitor doors, home appliances, and bed movements, making homes more secure and responsive.

• Retail and IoT

The retail sector has also seen widespread adoption of IoT Services. Since the opening of the first IoT-enabled store in Sweden in 2016, many听unstaffed retail shops听have mushroomed. E-Commerce giants such as听Alibaba听and听Amazon听have launched interesting initiatives with IoT at the center of delivering new customer experiences. The new formats of retail stores are fully automated supermarkets and are also based on IoT applications. These include the use of听Radio-frequency identification听(RFID) tags and remote monitoring systems. Other听IoT features, such as predictive engine, recognition, and Single-Shot Detector (SSD) algorithm, enhance the efficiency of automated retail systems. This has greatly increased the customer flow and transaction volume. One of the ways these will help retail outlets is by enabling decisions concerning stock placement and replenishment based on customer interaction with products displayed on the store shelves. The trend is catching on, and it鈥檚 just a matter of time before we see a completely human intervention-free retail world!

Besides all this, IoT can help the retail sector by providing additional capabilities in data auto-capture, visibility, intelligence, and information sharing. Besides enabling better customer servicing and greater integration of retail supply chains, other ways that IoT enhances the retail sector include-

• Monitoring supply chain networks
• Helping to maintain records of stocks and inventories
• Tracking shipments
• Pre-empting adverse conditions
• Managing yard logistics and warehouses

The pandemic has highlighted the intrinsic risks in modern supply chains, and for businesses, it makes maintaining efficient and cost-effective systems even more critical. In such a world, IoT data and IoT services can help businesses through improved supply chain efficiency implemented by using better managerial decision-making processes. These include multi-objective optimization of supply chain networks, partner selection in green supply chain problems, multi-product supply chain networks, and the problem-solving approach to closed-loop supply chains.

These can enhance supply chain performance in every dimension, including cost, quality, delivery, or flexibility. IoT can help the retail sector improve and maintain strong financial, social, and environmental sustainability.

• Cybersecurity and IoT

With the growth of IoT, there is an increasing threat of cyberattacks. Consequently, cybersecurity has become one of the most important areas of the Internet of Things. The IoT security market is听听at a compound annual growth rate of 33.7% by 2023.

IoT cybersecurity serves to reduce cybersecurity risk for organizations and users through the protection of connected assets and data privacy. A robust IoT data security portfolio extensively uses advanced cryptography techniques to protect users from Distributed Denial-of-Service (DDoS) attacks and other vulnerabilities. It also pre-empts any threats and takes measures to eliminate them before things get out of hand. The IoT aspects such as machine learning and physical unclonable functions听also allow听for preventing, detecting and reporting threats related to different domains of the IoT systems. These help in identifying authentic devices and preventing tampering and the insertion of cloned devices in the IoT environment. IoT is now also being used to听听in smart cities, and IoT cybersecurity has an important part to play.

As IoT utilization increases, other technologies and innovations that could keep up with it like 5G, blockchain, and AI have only now started to emerge. Using various machine learning algorithms, the enormous amounts of data that听听and convert into relevant information can enhance efficiency and reduce costs. IoT data on various operational aspects are highly useful for organizations. Other fields such as agriculture and construction can also benefit from the tools available with IoT. And there鈥檚 no denying that IoT is fast becoming one of the most essential technologies for humankind. As we enter the new normal, IoT will playing an even more prominent role in every part of our lives.

Humans will have a pivotal role in the next phase of IoT services, where Industry 4.0 (Industrial Internet of Things) and Human 4.0 converge. Smart manufacturing is leading the way. As connected manufacturing optimizes itself automatically, it becomes increasingly economical to build and customize products while enhancing system efficiencies without human intervention.听听are enabling pioneers to walk this path and set the agenda for the next frontier, where 鈥榟umans鈥� and 鈥榤achines鈥� speak the same language.

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