#ai-driven enterprise

[codetradeinsights]

𝗥𝗲𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝗶𝘇𝗲 𝗬𝗼𝘂𝗿 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗔𝗜-𝗱𝗿𝗶𝘃𝗲𝗻 𝗘𝗥𝗣 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀!

Discover how integrating Artificial Intelligence with Enterprise Resource Planning can transform your manufacturing operations. Check out our latest blog post to explore the future of smart manufacturing:

Read more about the next wave of intelligent ERP systems and stay ahead in the digital transformation race!

https://www.codetrade.io/blog/ai-driven-erp-solutions-for-the-manufacturing-industry/

[vastedge330]

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[ajmishra]

Dominating the Market with Cloud Power

Explore how leveraging cloud technology can help businesses dominate the market. Learn how cloud power boosts scalability, reduces costs, enhances innovation, and provides a competitive edge in today's digital landscape. Visit now to read more: Dominating the Market with Cloud Power

[lagoontechnologies]

The Future of Software Development: How No-Code Platforms are Driving Business Growth?

Our digital world of development landscape is experiencing an extreme shift on No Code DX Platforms. It will be a supercharger for the software development industry to rule Information Technology’s future. They are transforming the way we sneak up software platforms and are making them more penetrable, energy-efficient, and democratized.

Understanding No-Code Platforms

No-code platforms are one of the innovative game-changer for modern developers can get in the process of software development. They were developed to ease the job of developing applications and shorten the time taken to develop them.

These platforms come in the form of graphical and visual development interfaces where users can create an application by dragging and dropping some components. They rid the necessity of coding as we knew it hence opening up opportunities in software development to more people.

Here are some key features:

Drag-and-drop interfaces

Pre-built templates

Visual programming

Integration capabilities

Scalability and flexibility

These features make no-code platforms equally effective and applicable in small and large-scale businesses. They facilitate rapid application development and deployment which decreases the amount of time and money to be spent towards development.

The Evolution of No-Code Technology

The use of no-code technology is not a new concept in this world. It originated from the early periods of computing time when visual programming languages were proposed.

Thus, the technology has developed and reached maturity over the years. Today, they have turned into powerful tools that can be efficiently utilized to create versatile business applications.

The emergence of no-code tools is a reaction to demands for software development and lack of programmers. It is a solution that enables what is called “citizen developers” to develop applications without much coding expertise.

Main Characteristics and Advantages of No-Code Solutions

They come with a host of features that make them a powerful tool for businesses. These features are designed to simplify the development process and make it more efficient.

Drag-and-drop interfaces: This feature can be used to create an application where one can develop an application through using a drop-on-drop feature on a design board. As a type of programming, it is more or less visible, and logical to most people in a way.

Pre-built templates: It has been known to have its own set of templates which the users can employ as the basis for the applications that they wish to develop. It also must be noted that these templates can be further tailored to suit the nature of the business in question.

Integration capabilities: No-code platforms can interact with other applications and systems making it easier for businesses to digitize their processes and operations.

Scalability and flexibility: As they are conceived to accommodate fluctuations and changes, they may support any type and size of business, starting with the new venture.

Key Features of No-Code Platforms

Democratizing Software Creation

A great innovation of No-Code platforms is the equal opportunity it gives to anyone to develop applications. Businessmen and marketing departments, for instance, can design functional applications without necessarily having programming knowledge. No-Code platforms allow users to develop solutions by using simple drag-and-drop and adapting ready templates without involving development teams. This is where it is made perfectly even or fair for everyone concerned.

Accelerating Time-to-Market

This means that under today’s conditions and especially in the context of growing competition, speed is the most significant advantage. No-code platforms significantly help decrease development time and minimize the time spent to launch applications. It takes a small fraction of the time as it would take most companies to code new solutions, test them, and then deploy them. This ability results in a shorter time-to-market that ensures companies can respond to changes in the marketplace thereby providing them with a significant competitive advantage.

Lowering Development Costs

Unfortunately, skilled developers are not cheap to hire, and any custom coding can be very time-consuming and costly. These problems are solved by No-Code platforms since they allow teams to develop an application with less technical support. It not only reduces the development cost but also releases the pressures of IT departments from many ordinary tasks so that they can deal with more elaborate issues, making the process produce better overall effects.

Empowering Innovation

No-code platforms enable creativity since technical barriers are removed. Working in teams allows for the formation of new hypotheses quickly and the optimization of existing concepts with new possibilities. It enhances flexibility and enables businesses to expand into new sectors, switch strategies if necessary, and adapt to new trends in the constantly expanding digital world.

Seamless Integration & Scalability

Let me unwrap one of the misconceptions regarding the No-Code platforms, and that most of them are lacking in terms of functionality. The existing No-Code tools are capable of offering the integration level by which the new applications can link with the pre-existing system, database, as well as APIs. Moreover, while using No-Code platforms, companies can get tools that adapt to the company’s growth and needs but remain as much as simple as possible yet as complex as needed.

Shaping the Future of Development

In light of the ongoing trends towards digitalization in the sphere of enterprise management and operation, No-Code platforms cannot be considered as dispensable. By filtering out these constraints, they enable organisations to satisfy customer needs, introduce new products and services, and remain relevant in the market. The future of development is finally now and it has arrived through the advent of No-Code.

In Conclusion: The Future of Business Growth Lagoon’s No-Code Platforms are revolutionizing how businesses operate, making development accessible, cost-effective, and agile. Whether you’re aiming for rapid innovation, reducing development costs, or scaling effortlessly, Lagoon’s No-Code solutions provide the tools to drive sustainable business growth. The future of digital transformation is here — and it’s code-free!

[jcmarchi]

OpenResearch reveals potential impacts of universal basic income

New Post has been published on https://thedigitalinsider.com/openresearch-reveals-potential-impacts-of-universal-basic-income/

OpenResearch reveals potential impacts of universal basic income

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A study conducted by OpenResearch has shed light on the transformative potential of universal basic income (UBI). The research aimed to “learn from participants’ experiences and better understand both the potential and the limitations of unconditional cash transfers.”

The study – which provided participants with an extra $1,000 per month – revealed significant impacts across various aspects of recipients’ lives, including health, spending habits, employment, personal agency, and housing mobility.

In healthcare, the analysis showed increased utilisation of medical services, particularly in dental and specialist care.

One participant noted, “I got myself braces…I feel like people underestimate the importance of having nice teeth because it affects more than just your own sense of self, it affects how people look at you.”

While no immediate measurable effects on physical health were observed, researchers suggest that increased medical care utilisation could lead to long-term health benefits.

The study also uncovered interesting spending patterns among UBI recipients.

On average, participants increased their overall monthly spending by $310, with significant allocations towards basic needs such as food, transportation, and rent. Notably, there was a 26% increase in financial support provided to others, highlighting the ripple effect of UBI on communities.

In terms of employment, the study revealed nuanced outcomes.

While there was a slight decrease in overall employment rates and work hours among recipients, the study found that UBI provided individuals with greater flexibility in making employment decisions aligned with their circumstances and goals.

One participant explained, “Because of that money and being able to build up my savings, I’m in a position for once to be picky…I don’t have to take a crappy job just because I need income right now.”

The research also uncovered significant improvements in personal agency and future planning. 

UBI recipients were 14% more likely to pursue education or job training and 5% more likely to have a budget compared to the control group. Black recipients in the third year of the program were 26% more likely to report starting or helping to start a business.

Lastly, the study’s analysis revealed increased housing mobility among UBI recipients. Participants were 11% more likely to move neighbourhoods and 23% more likely to actively search for new housing compared to the control group.

the openresearch team releases the first result from their UBI study:https://t.co/8YXBwVeQeW

great, diligent work over the past few years. proud of the team!

— Sam Altman (@sama) July 22, 2024

The study provides valuable insights into the potential impacts of UBI, offering policymakers and researchers a data-driven foundation for future decisions on social welfare programs. This major societal conversation may be necessary if worst case scenarios around AI-induced job displacement come to fruition.

(Photo by Freddie Collins on Unsplash)

See also: AI could unleash £119 billion in UK productivity

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with other leading events including Intelligent Automation Conference, BlockX, Digital Transformation Week, and Cyber Security & Cloud Expo.

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

Tags: agi, ai, artificial intelligence, employment, ethics, government, job displacement, law, legal, openresearch, Politics, report, research, Society, study, ubi, universal basic income

[searchunifyusa]

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[mostlysignssomeportents]

No matter how horny your boss is for replacing you with an AI, a union will cool his ardor

If the studios can’t use AI to fire writers and replace them with chatbots, they have no reason to shell out millions for enterprise licenses.

Now, there are plenty of other workers in the film-production pipeline that bosses are hoping to make unemployed so that their salaries can be rendered unto the shareholders.

Hollywood is one of the most heavily unionized sectors in America, but there still gaps where workers are atomized and bosses can act without fear of a strike.

For example, there’s the visual effects (VFX) workers, famously unorganized, whose wage-bills are a big chunk of any film budget. These workers already have a heavily automated pipeline driven by sophisticated computer technology, so perhaps they can all be fired and replaced with software?

Well, maybe (especially if you don’t care whether the VFX the software produces is good, and only care about satificing).

Which is why Disney/Marvel’s VFX workers just voted to unionize. What’s more, if Disney doesn’t give them a contract ASAP, the hard-charging general counsel of the National Labor Relations Board is going to simply force the company to honor the terms that other unionzed workers get through their contract.

Unions are back, baby, and the NLRB has instituted a new, zero-tolerance policy for union-busting. Everyone is unionizing, from strippers to Starbucks baristas, and the writers just proved that no matter how horny your boss is for replacing you with an AI, a union will cool his ardor.

-How the Writers Guild sunk AI's ship: No one's gonna buy enterprise AI licenses if they can't fire their workers

Image: Cryteria (modified) https://commons.wikimedia.org/wiki/File:HAL9000.svg

CC BY 3.0 https://creativecommons.org/licenses/by/3.0/deed.en

[seoanalysistools250]

🎙️ Elevate Your Voice with WellSaidLabs - The AI-Powered Voice Creation Platform

In today's digital landscape, the power of the human voice has become more important than ever. 🗣️ Whether you're creating voice-over content, virtual assistants, or audio experiences, having the right tools to craft a compelling, authentic-sounding voice is essential. Enter WellSaidLabs - the AI-powered platform that's redefining the future of voice creation.

✨ What is WellSaidLabs? WellSaidLabs is a cutting-edge platform that utilizes advanced AI and machine learning to generate high-quality, natural-sounding synthetic voices. With a vast library of voice models and customization options, you can bring your voice-driven projects to life with unparalleled realism and flexibility.

🛠️ Key Features:

Extensive Voice Model Library: Choose from a diverse range of professional-grade voice models, covering multiple languages, accents, and styles. Hyper-Realistic Voice Synthesis: WellSaidLabs' AI engine produces remarkably natural-sounding audio, indistinguishable from a human recording. Seamless Voice Customization: Easily adjust the tone, pitch, and other parameters to perfectly match your brand or project's needs. Text-to-Speech Capabilities: Generate lifelike audio from any text input, with precise lip-syncing and natural-sounding inflections. Scalable & Collaborative Platform: Work together with your team to create and manage your voice assets. 💡 Why WellSaidLabs is a Game-Changer:

Enhances User Experience: Captivate your audience with authentic, engaging voice experiences. Streamlines Content Production: Simplify the voice creation process and bring your projects to market faster. Boosts Accessibility: Ensure your content is accessible to a wider audience through high-quality text-to-speech functionality. Fosters Brand Consistency: Develop a distinctive, recognizable voice that reinforces your brand identity. Ready to take your voice-driven projects to new heights? 🚀 Explore the possibilities with WellSaidLabs and start crafting unforgettable voice experiences today!

#WellSaidLabs #AIVoiceCreation #VoiceContent #TextToSpeech #DigitalExperiences

[mjpro]

mjPRO | The Ultimate Procurement System for Reducing Costs and Enhancing Efficiency

In today’s fast-paced digital world, businesses are looking for tools that can streamline their processes, enhance efficiency, and minimize costs. Procurement, a critical function for every organization, is no exception. Choosing the right procurement software can make all the difference in managing supply chains effectively, improving governance, and cutting procurement costs. Among the numerous procurement software companies, mjPRO stands out as a robust, AI-powered solution that offers scalability, cost-efficiency, and enhanced profitability.

In this blog, we’ll explore the best features of mjPRO, why it’s considered the best procurement software, and how it supports businesses in managing procurement processes seamlessly.

What Is Procurement Software?

Before we dive into mjPRO, let’s first define procurement software. In simple terms, procurement software is a digital tool that automates and manages the entire procurement process—from requisitioning to payment. It helps organizations track their purchases, manage suppliers, and ensure compliance, reducing manual intervention and boosting overall efficiency. Today, eProcurement software solutions are often cloud-based, providing businesses with flexibility, scalability, and advanced data-driven insights.

Why mjPRO Is the Best Procurement Software

mjPRO is not just another procurement software; it’s a comprehensive eProcurement software platform that digitizes the entire procurement process from planning to payment. Whether you’re managing simple purchases or complex projects, mjPRO provides a unified solution that reduces procurement costs, enhances supplier management, and ensures near 100% delivery compliance. Here's why mjPRO is considered one of the top procurement software solutions in the market:

1. Cloud-Based, Pay-Per-Use Model

One of the most attractive features of mjPRO is its pay-per-use, cloud-based model. Unlike traditional procurement systems that require significant upfront investment and infrastructure, mjPRO offers a flexible, cloud-based solution that allows for scalability based on your business needs. This ensures a faster ROI and eliminates the need for costly hardware or software upgrades.

2. Intelligent Platform with AI-Powered Automation

At its core, mjPRO is an intelligent procurement platform powered by AI. It leverages advanced technologies like AI and NLP-based analytics to offer real-time insights, such as category and supplier recommendations. By learning from your procurement patterns and suggesting suppliers based on past purchasing behavior, mjPRO takes the guesswork out of sourcing, making it the best procurement software for both small and large enterprises.

3. Strong Supplier Base and Smart Decision-Making Tools

With mjPRO, you’ll have access to an ever-growing supplier base. The platform continuously adds new suppliers to the ecosystem, giving businesses more options and competitive pricing. What’s more, mjPRO integrates AI-based decision-making tools to provide real-time supplier recommendations, enabling procurement teams to make informed decisions quickly.

4. End-to-End Procurement Chain Digitization

mjPRO digitizes the entire procurement chain, from planning to payment, making it one of the top procurement software platforms available today. Let’s break down how mjPRO handles each step of the procurement process:

a. Plan

The planning phase is critical to ensuring the procurement process runs smoothly. mjPRO helps streamline this process by allowing users to categorize items up to four levels, aggregate or split requirements, and manage budgets more effectively. With features like eBriefcase and category-specific insights, businesses can easily plan for both routine and complex procurements.

b. Source

Supplier management is one of the most challenging aspects of procurement. mjPRO excels in this area by offering a comprehensive supplier management module. The system helps businesses survey, rate, and profile suppliers before they are approved. mjPRO also automates RFQs (Request for Quotations) and integrates RPA-based bidding, which enhances supplier negotiations and ensures competitive pricing.

c. Procure

Once suppliers have been approved, mjPRO facilitates the creation and management of purchase orders (POs). The platform automates the post-PO process by handling tasks such as PO acceptance, ASN (Advanced Shipping Notice) generation, PI (Proforma Invoice) approval, and eCatalogues management. This automation reduces the risk of human error and accelerates procurement times by as much as 40%.

d. Pay

Finally, mjPRO ensures that payment processing is seamless. The platform performs thorough three-point checks before invoice approval and integrates with payment gateways to automate payments. The result is a faster, more efficient payment process that ensures suppliers are paid on time, minimizing disruptions in the supply chain.

How mjPRO Benefits Your Business

Now that we’ve covered the key features of mjPRO, let’s take a look at how this procurement software can benefit your business:

1. Reduces Procurement Costs by 7%

Procurement costs can take up a significant portion of a company’s budget. By using mjPRO, businesses can reduce these costs by up to 7%. This is achieved through better supplier negotiations, automated procurement processes, and more efficient resource management.

2. Makes Procurement 40% Faster

One of the most compelling advantages of mjPRO is its ability to speed up the procurement process. The platform reduces manual tasks and automates the creation and management of POs, invoices, and supplier communications, making procurement up to 40% faster. This is a game-changer for businesses that operate in fast-paced environments and need to meet tight deadlines.

3. Limits Supply Risk with 100% Delivery Compliance

Supply chain disruptions can have serious consequences for businesses. mjPRO mitigates these risks by ensuring nearly 100% delivery compliance. With advanced supplier profiling, automated RFQs, and integrated payment gateways, mjPRO ensures that your supply chain operates smoothly and without delays.

4. Strengthens Governance and Ensures Zero Frauds

In the digital age, governance and compliance are more important than ever. mjPRO strengthens governance across the procurement process by offering real-time insights into supplier performance and ensuring that all procurement activities are auditable. This procurement software also helps prevent fraud by enforcing strict supplier approval and payment processes.

Unlock the Full Potential of eProcurement with mjPRO

If you're searching for a procurement software company that offers a comprehensive, scalable solution for your business, look no further than mjPRO. This eProcurement software not only digitizes the entire procurement process but also enhances it with AI-powered tools, robust supplier management, and seamless payment integration.

With mjPRO, businesses can gain full control over their procurement activities while reducing costs, accelerating procurement timelines, and ensuring compliance across the board.

Key Features of mjPRO:

Pay-Per-Use Cloud-Based Solution: Achieve faster ROI without heavy investment.

AI-Powered Automation: Make data-driven decisions with category and supplier recommendations.

Strong Supplier Base: Access to a continuously growing supplier network.

Comprehensive Digitization: Manage everything from planning to payment on one platform.

Faster Procurement: Reduce procurement times by 40% through automation.

Enhanced Governance: Ensure zero frauds and full compliance with real-time monitoring.

If you're ready to take your procurement processes to the next level, mjPRO is the best procurement software for businesses of all sizes. Contact us today to learn more and unlock the full potential of eProcurement software for your organization!

[anuj91200]

Unlocking the Power of Digital Marketing in 2024: Key Strategies for Success In today's fast-evolving digital landscape, businesses need a strong online presence to stay competitive. Digital marketing has emerged as the go-to strategy for brands looking to connect with their target audience, boost sales, and build lasting relationships. At Digital Marketing Lab, we explore the latest trends, strategies, and tools that can transform your business into a digital powerhouse.

Why Digital Marketing Matters More Than Ever With over 5 billion people using the internet worldwide, having a digital strategy is no longer optional. Consumers increasingly rely on online platforms to discover, evaluate, and purchase products or services. This growing reliance on digital channels offers businesses endless opportunities to engage and convert potential customers.

In 2024, digital marketing continues to evolve, with a focus on personalization, automation, and omnichannel experiences. Whether you're a small business or a large enterprise, an effective digital marketing strategy can help you reach a wider audience, improve customer engagement, and drive growth.

Key Digital Marketing Strategies for 2024 To stay ahead of the curve, here are the top digital marketing strategies to implement in 2024:

Content Marketing Content remains king, but the way businesses approach it is changing. High-quality, value-driven content that speaks directly to your audience’s needs will drive better engagement. This includes blog posts, videos, infographics, podcasts, and more. Interactive content like polls, quizzes, and surveys is also gaining traction as it encourages user participation.

Search Engine Optimization (SEO) SEO continues to be a critical pillar of digital marketing. Google and other search engines are constantly updating their algorithms to prioritize websites with the best user experience. In 2024, focus on core web vitals, mobile-first indexing, and voice search optimization to ensure your site ranks well. Local SEO is also becoming more important as consumers search for businesses “near me.”

Social Media Marketing Social media platforms such as Instagram, Facebook, LinkedIn, and TikTok remain powerful tools for brand promotion. Leveraging influencer marketing, user-generated content, and short-form videos can enhance your brand’s visibility. In 2024, we expect more brands to use AI-powered social listening tools to better understand their audience and respond to trends in real time.

Email Marketing and Personalization Email marketing is far from obsolete—in fact, it’s more effective than ever when combined with personalization. Consumers expect brands to deliver relevant, personalized messages that cater to their individual preferences. Using AI tools to segment audiences and create automated email flows based on user behavior can help boost engagement and conversions.

Pay-Per-Click Advertising (PPC) PPC remains a go-to strategy for instant visibility. Platforms like Google Ads, Facebook Ads, and Instagram Ads offer highly targeted campaigns that reach specific audiences. In 2024, AI-driven campaign management tools will take PPC to the next level, optimizing budgets, targeting, and ad placements for maximum ROI.

Video Marketing Video is rapidly becoming the preferred medium for online users, making it an essential part of any digital marketing strategy. Whether it's short, engaging TikToks, in-depth YouTube tutorials, or live streams on Instagram, businesses need to incorporate video content to connect with their audiences. In 2024, shoppable videos and interactive livestreams will dominate the video marketing scene.

AI and Automation Artificial intelligence and automation tools are transforming the digital marketing landscape. From chatbots that provide instant customer service to AI-driven content creation, businesses are leveraging technology to improve efficiency and customer experience. Tools like predictive analytics and machine learning also enable marketers to make data-driven decisions, enhancing campaign success rates.

Staying Ahead in the Digital Marketing Game The digital marketing world is constantly evolving, but the fundamentals remain the same: know your audience, provide value, and adapt to new trends and technologies. Whether you're looking to revamp your existing strategy or build a new one from the ground up, keeping an eye on these key trends will ensure your brand stays competitive in 2024.

At Digital Marketing Lab, we're committed to helping businesses navigate the complexities of digital marketing. We provide actionable insights, tips, and resources to help you grow your online presence and achieve your business goals.

Know More: https://digitalmarketinglab.in/

[jcmarchi]

Choosing the Right Path: How Industrial Companies Should Approach AI-Powered Technologies

New Post has been published on https://thedigitalinsider.com/choosing-the-right-path-how-industrial-companies-should-approach-ai-powered-technologies/

Choosing the Right Path: How Industrial Companies Should Approach AI-Powered Technologies

It is clear that artificial intelligence is disrupting every industry as we know it. This includes not only the sectors that have garnered the most attention — such as SaaS, fintech, healthtech, and travel — but also traditionally heavy industries that are ripe for disruption. 

As an industrial AI-oriented investor, I have witnessed how many companies in the field are increasingly embracing automation and data-driven decision-making, and how their approach may vary based on both what the corporation needs and the resources they have available. 

In this piece, I will discuss various options firms have to integrate AI-powered technologies into their business processes, and highlight both the pros and cons I’ve observed in each of them. 

1. Establish an internal R&D department

A route several companies take is establishing their own R&D department to develop AI technologies. For instance, Siemens, through its AI Lab, is pioneering various potential applications of industrial AI. 

While Siemens has been able to reach some breakthroughs — such as reducing production times without the need for new hardware — the reality is that for most firms, the benefits they can derive from an internal department are limited. 

Unlike startups, the corporate world has slow processing times, low tolerance for errors, and high expectations that can kill projects before they harness their full potential. Startups, on the other hand, are adept at pivoting and know that several iterations are required before finding a real breakthrough, especially with technologies like AI that require us to be in a constant “learning” mode. 

This is why, from my perspective, companies that opt to leverage this approach need to give that department autonomy so that it can operate like a startup. Otherwise, the sluggish pace with which corporations traditionally operate will likely hinder their prospects. 

2. Create a corporate venture fund (CVF) or accelerator that focuses on AI

Behemoths like Toyota — initially through the Toyota Research Institute, and then through Toyota Ventures — and Qualcomm, through Qualcomm Ventures, have poured hundreds of millions of dollars each by investing in promising startups in AI, robotics, and other frontier technologies. 

On the other hand, other firms — like Fujitsu, through the Fujitsu Engineering Accelerator, or Volkswagen, which partnered with well-known Silicon Valley accelerator Plug and Play — have created proprietary acceleration programs to support emerging ventures that focus on the needs and challenges of their industry. There are benefits to this, since they can help firms pilot projects with startups and leverage their resources to help these startups succeed. 

Nevertheless, this approach has limitations too. Establishing a venture fund or accelerator does not change a corporation’s deeply-ingrained culture. Furthermore, the operation of these funds is usually constrained by additional factors, such as protocols and rules established by the parent company. Traditional corporate processes can also clash with what is needed to develop breakthrough AI technologies. 

3. Hire a Chief Digital Officer (CDO)

This step involves hiring an individual or forming a department that will be tasked with digitizing the company. These responsibilities will encompass developing AI adoption strategies and liaising with startups. The Chief Digital Officer (CDO) will also focus on enhancing efficiency, competitiveness, and growth through digitization. 

Potential drawbacks of this in-house approach relate to the fact that startups might find it challenging to communicate with corporate employees, because they are accustomed to different business models and have completely divergent communication protocols. Additionally, the CDO might rely on their existing network of contacts for potential partnerships, limiting the scope of effective collaborations. 

Another consideration is that the CDO needs to be aligned with the company’s overarching vision. For instance, if the CDO wants to drive fast transformation, and the firm is not ready to progress at that pace, projects might stall, and only lead to further frustration.  

In general, this model works better when the corporation interacts with a VC fund, since a venture capitalist can quickly understand which of their portfolio companies is better suited to solve a particular need or problem. 

4. Organize AI-themed hackathons

Recurrent hackathons — for example, annually — are a powerful method to generate new ideas and solutions. Nowadays, this strategy is not only implemented by corporations, but also by startups and funds. I have personally used this approach, and one of my portfolio companies regularly organizes hackathons, since they provide an extraordinary platform for people to be creative and think outside the box. 

Historically, some products created at hackathons have gone on to become great successes. For example, at one event organized by Schneider Electric, participants developed an AI-powered solution to optimize energy management systems. Schneider Electric took this prototype and further developed it, benefiting from more efficient energy usage and eventually passing on these cost reductions to its customers. 

In the same vein, a GE-hosted hackathon spurred the development of an AI application that improves wind turbine efficiency by analyzing operational data and automatically adjusting control settings. GE expanded on this technology, and now, it optimizes the wind farm operations of GE’s renewable energy division. It is one of many solutions developed at hackathons that GE has eventually implemented. 

Bosch’s “Connected Experience” hackathon, which focuses on AI and IoT innovations, is another great example of an AI-centered event by an industrial company, and it is expected that the creations that emanate from it will accelerate disruption at the firm’s manufacturing and automotive divisions. 

The secret to a successful hackathon lies not only in the ability to organize it and the willingness to invest time and money but, more importantly, in understanding why you are doing it and how to utilize the results—the ideas generated by the participants. On one hand, it’s crucial to allow participants the freedom to think creatively, as the essence of a hackathon is in the search for new ideas. On the other hand, systematizing the results is necessary. Mastering this balance can make a hackathon an excellent source of new technologies for the company, or talent, because a hackathon is not only a platform for discovering new technologies but also for identifying individuals capable of developing these technologies within the company.

Final thoughts

While these four approaches can be potentially successful strategies for corporations to integrate AI technologies into their processes and improve results, I must remark that a common thread here is the importance of communication and understanding between two radically different ways of working. 

AI startups and innovators can often find it challenging to communicate with corporate employees, therefore, this is a skill that needs to be taught, since effective communication can pave the way to success. 

Hence, a final recommendation for a corporation is to have an employee at the company that can work with startups and teach them how to bridge this communication gap. Google is a positive example of this. I met someone at Google who, besides being involved in enterprise sales, was a mediator who taught startups to find common ground with large conglomerates. This is key, since reshaping today’s industries with the power of AI will require us to work together despite our differences, and those who do not know how to collaborate will likely be left behind.

[shantitechnology]

Top ERP Software Trends in 2024 – What to Expect

The Enterprise Resource Planning (ERP) software market is evolving at an unprecedented pace, driven by advancements in technology and the growing needs of businesses across industries.  In 2024, ERP software will continue to serve as a backbone for businesses, streamlining operations, enhancing productivity, and enabling informed decision-making.  As we move further into the digital age, several trends are emerging that will reshape the ERP landscape.  This blog will explore the top ERP software trends to watch in 2024, with a focus on the importance of ERP systems for engineering companies, particularly in India, where the demand for industry-specific solutions is rapidly growing.

1.   AI and Machine Learning Integration in ERP Software

One of the biggest trends for ERP software in 2024 is the integration of artificial intelligence (AI) and machine learning (ML).  AI-driven automation will continue to enhance business processes, helping companies improve efficiency, reduce errors, and make more informed decisions.  Machine learning algorithms will enable ERP systems to predict trends, forecast demand, and offer personalized insights.

For engineering companies in India, AI and ML integration in ERP systems will play a vital role in predictive maintenance, optimizing inventory management, and reducing operational costs.  These features will allow engineering firms to focus on innovation while leaving repetitive and data-driven tasks to automated systems.

2.   Cloud-Based ERP Solutions

Cloud-based ERP systems have been gaining traction in recent years, and this trend is expected to dominate 2024.  Cloud ERP offers scalability, flexibility, and cost-effectiveness, making it an ideal solution for companies of all sizes.  The ability to access real-time data from anywhere in the world provides businesses with a competitive edge, allowing for quicker decision-making and improved collaboration.

For engineering companies, adopting a cloud-based ERP software solution can streamline operations by centralizing data and ensuring that teams, whether on-site or off-site, are working with up-to-date information.  This is particularly relevant for engineering companies in India, where geographically dispersed teams often need access to critical project data in real-time.

3.   ERP Customization and Industry-Specific Solutions

While generic ERP solutions have been widely adopted, there is a growing demand for industry-specific ERP software that caters to the unique needs of different sectors.  In 2024, customization will become a crucial factor in ERP implementation, with businesses seeking solutions tailored to their specific operational requirements.

For engineering companies, this means selecting ERP software designed to handle the complexities of engineering projects, such as project management, materials tracking, and compliance with industry regulations.  The rise of specialized ERP providers, particularly ERP software for engineering companies, will make it easier for businesses to choose solutions that are perfectly aligned with their needs.

ERP software providers in India are increasingly offering industry-specific solutions, and some of the Top 10 ERP software providers in India are focusing on engineering ERP systems that address these niche requirements.  As customization becomes more accessible, businesses will be able to implement ERP solutions that closely match their workflows.

4.   Mobile ERP Functionality

Mobile technology is becoming an integral part of modern business, and ERP systems are no exception.  In 2024, ERP software will continue to expand its mobile capabilities, enabling businesses to access critical information on the go.  Mobile ERP solutions allow employees to access data, manage tasks, and approve workflows from their smartphones or tablets, providing flexibility and improving productivity.

For engineering ERP software companies in India, mobile ERP functionality is particularly valuable for teams working on-site or at multiple locations.  Field engineers can access project data, submit reports, and update tasks in real-time, reducing delays and enhancing collaboration between teams.

5.   Advanced Data Analytics and Business Intelligence

The rise of big data has prompted ERP systems to evolve into powerful data analytics and business intelligence tools.  In 2024, ERP software will focus on enhancing data-driven decision-making by offering advanced analytics and reporting features.  These capabilities will help companies make more informed decisions, identify trends, and uncover hidden opportunities for growth.

Engineering companies, which often deal with complex projects and large amounts of data, can benefit from the enhanced data analytics features of modern ERP systems.  ERP software for engineering companies in India will increasingly provide detailed reports on project performance, cost analysis, and resource allocation, helping managers optimize operations and ensure timely project delivery.

6.   ERP and IoT Integration

The Internet of Things (IoT) is another technology that is transforming the ERP landscape.  In 2024, ERP systems will increasingly integrate with IoT devices, enabling companies to collect real-time data from connected devices, sensors, and machinery.  This integration will provide businesses with valuable insights into their operations, from tracking inventory levels to monitoring equipment performance.

For engineering companies, IoT integration can help with real-time tracking of machinery, improving maintenance schedules, and reducing downtime.  In India, where engineering firms are becoming more reliant on IoT devices, ERP software providers in India are recognizing the need to offer solutions that seamlessly connect IoT data with ERP systems.

7.   Focus on Cybersecurity

With the increasing digitization of business operations, the importance of cybersecurity in ERP systems cannot be overstated.  In 2024, ERP providers will place a stronger emphasis on ensuring the security of sensitive business data.  Companies will expect robust cybersecurity measures such as encryption, multi-factor authentication, and regular security updates to protect their systems from potential breaches.

This is particularly crucial for engineering companies, which often handle sensitive data related to intellectual property, designs, and project specifications.  ERP software for engineering companies must prioritize data protection to safeguard against cyber threats.

8.   Sustainability and Green ERP

Sustainability is no longer just a buzzword; it’s a business imperative.  In 2024, we will see a growing number of businesses turning to ERP software to help them meet their sustainability goals.  Green ERP systems will focus on reducing waste, optimizing resource usage, and tracking a company’s carbon footprint.

Engineering ERP software companies in India are beginning to incorporate sustainability metrics into their offerings, allowing engineering firms to track energy consumption, reduce waste, and ensure compliance with environmental regulations.  As industries become more environmentally conscious, ERP software that supports sustainability initiatives will become a valuable asset.

9.   Best ERP Software Providers in India

With the growing demand for ERP solutions tailored to specific industries, businesses are looking for the best ERP software provider in India to meet their needs.  ERP software providers in India are offering a wide range of solutions, from generic systems to industry-specific software like engineering ERP solutions.

Among the Top 10 ERP software providers in India, companies are competing to offer the most advanced, user-friendly, and customizable solutions.  These providers understand the unique challenges of industries like engineering and are developing software that addresses the specific requirements of managing large-scale projects, resources, and compliance.

10.      ERP Software for Engineering Companies in India

Engineering companies in India are increasingly recognizing the value of ERP software in streamlining operations, improving project management, and enhancing overall efficiency.  In 2024, ERP software for engineering companies in India will focus on providing robust solutions that can handle the complexities of engineering projects, from managing resources to tracking project timelines and ensuring compliance with industry standards.

The right ERP software provider can make a significant difference for engineering firms, helping them optimize workflows, reduce costs, and improve profitability.  As the demand for specialized ERP systems grows, engineering ERP software companies in India will continue to innovate, offering tailored solutions to meet the evolving needs of the industry.

Conclusion

As we look ahead to 2024, the ERP software landscape is set to undergo significant changes, driven by technological advancements and the growing need for industry-specific solutions.  For engineering companies in India, adopting the right ERP system will be crucial in staying competitive and efficient in an increasingly complex business environment.  Whether it is integrating AI, leveraging IoT data, or enhancing cybersecurity, ERP software providers in India are poised to meet the demands of modern businesses with cutting-edge solutions.

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How Custom Software Development Can Improve Your Customer Experience

In today's highly competitive market, delivering an exceptional customer experience is crucial for businesses striving to stand out. One of the most effective ways to enhance customer satisfaction is through custom software development. Whether you're a small business or a large enterprise, tailored software solutions can significantly impact your customer interactions and overall business efficiency.

Why Custom Software Development?

Custom software development is the process of designing, creating, deploying, and maintaining software for a specific set of users, functions, or organizations. Unlike off-the-shelf software, custom solutions are built to meet the unique needs of a business, ensuring that every feature and function aligns perfectly with the company's goals and customer expectations.

For businesses in India, particularly those partnering with a software development company in Gujarat, custom software development offers numerous advantages. Let's explore how it can improve your customer experience.

1. Personalized User Experience

One of the primary benefits of custom software is its ability to deliver a personalized experience to your customers. By understanding your customers' needs, a custom software development company in India can create solutions that provide a seamless and intuitive user interface. This personalized approach not only makes it easier for customers to navigate your services but also increases their satisfaction and loyalty.

2. Enhanced Efficiency and Speed

Custom software is designed to integrate smoothly with your existing systems, eliminating the inefficiencies that often come with using multiple off-the-shelf solutions. This streamlined process results in faster service delivery, which is crucial for keeping customers happy in a world where time is of the essence. Working with a software development company in Gujarat ensures that your software is optimized for speed and efficiency, providing your customers with quick and reliable service.

3. Scalability and Flexibility

As your business grows, so do your customer needs. Off-the-shelf software may not always accommodate this growth, leading to a decrease in service quality. Custom software, however, is built with scalability in mind. A software development company in Gujarat can develop a solution that grows with your business, allowing you to continually meet and exceed customer expectations.

4. Improved Data Security

In the age of digital transformation, data security is a top concern for customers. Custom software development allows you to implement robust security measures tailored to your business's specific needs. A custom software development company in India can ensure that your software is built with the latest security protocols, safeguarding your customers' data and building their trust in your brand.

5. Better Customer Support

Custom software can be equipped with advanced customer support features, such as AI-driven chatbots, real-time analytics, and integrated CRM systems. These tools enable you to provide immediate assistance and proactive support to your customers, enhancing their overall experience. By partnering with a software development company in Gujarat, you can ensure that your software includes the latest technologies to support and delight your customers.

6. Cost-Effectiveness in the Long Run

While the initial investment in custom software development may be higher than purchasing off-the-shelf solutions, the long-term benefits are substantial. Custom software reduces the need for multiple applications, minimizes downtime, and decreases the likelihood of costly security breaches. Over time, this leads to significant cost savings, which can be reinvested into further improving your customer experience.

Conclusion

In today's fast-paced digital world, businesses must continuously innovate to meet the evolving demands of their customers. Custom software development offers a powerful way to enhance customer experience, from personalized interfaces to improved security and support. By partnering with a reputable software development company in Gujarat or any leading custom software development company in India, you can create software solutions that not only meet but exceed your customers' expectations, setting your business apart in a competitive market.

Investing in custom software is investing in your customers' satisfaction and your business's future. Make the choice today and watch your customer experience reach new heights.

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Sachin Dev Duggal | Personalized product development using AI and advanced technologies

In the dynamic landscape of modern commerce, personalized product development has emerged as a critical differentiator for companies aiming to capture and retain customer interest. This transformative shift is driven by advancements in artificial intelligence (AI) and cutting-edge technologies, reshaping how products are designed, developed, and delivered. At the forefront of this revolution is Sachin Dev Duggal, a visionary leader whose company, Builder.ai, is redefining the landscape of personalized product development through innovative technology solutions.

Design and Prototyping

Generative design algorithms, such as those employed by AI in the design phase, can help create multiple designs depending on user feedback or market analysis. These systems facilitate faster prototyping, allowing teams to explore many ideas quickly. For example, Builder.ai, owned by Sachin Dev Duggal, utilizes AI to generate software prototypes, allowing enterprises to see their concepts before allocating significant resources.

Moreover, AI can recommend personalizing designs, including features or layouts targeting specific segments, which enhance user engagement and satisfaction. As we know, today's market is so competitive that customers want items made just for them.

The Role of AI in Product Development

AI's role in product development is broad, ranging from innovation to commercialization. AI tools can help organizations generate ideas based on huge amounts of data by identifying market trends and consumer preferences. This approach eliminates guesswork and supports the creation of consumer-centric products.

AI-driven technologies are enabling unprecedented levels of customization in product development. Traditional methods often struggled with scalability and accuracy when personalizing products for individual preferences. However, AI's ability to analyze vast amounts of data in real time has transformed this process. By leveraging machine learning algorithms, businesses can now identify and predict customer preferences with remarkable precision. This capability allows for creating products that are not only tailored to individual tastes but also anticipated based on emerging trends and behaviours.