As we step into 2024, the landscape of mobile app development in the USA continues to evolve, shaped by emerging trends and persistent challenges. Mobile app developers lead this dynamic industry, leveraging innovative technologies and overcoming challenges to deliver cutting-edge solutions. Let’s explore the key mobile app development trends and challenges shaping the USA market in 2024. focusing on application development.

1. Evolution of User Experience Design: In 2024, user experience (UX) design remains crucial in mobile app development, reflecting the evolving preferences of users. Developers are increasingly emphasizing intuitive interfaces, seamless navigation, and personalized experiences to enhance user engagement. Incorporating AI-powered chatbots, voice interfaces, and AR elements elevates the overall UX, aligning with mobile app development trends.

2. Embracing Cross-Platform Development: Cross-platform development frameworks like Flutter and React Native are gaining traction among mobile app developers in the USA. These frameworks enable developers to build apps compatible with both iOS and Android platforms, reducing development time and costs. Cross-platform development is key for app development services to maximize market reach and cater to diverse user preferences.

3. Integration of Emerging Technologies: Mobile app developers are integrating emerging technologies such as AI, ML, and blockchain into their applications to deliver innovative solutions. AI-powered personalization, ML-driven predictive analytics, and blockchain-based security solutions enhance app functionality and scalability. This is reflecting the growing demand for advanced features in application development.

4. Rising Demand for App Development Services: The demand for professional app development services is on the rise in the USA market. Because US businesses recognize the importance of mobile apps in their digital strategy. Therefore, application development companies equipped with diverse skill sets and expertise are sought after to develop custom apps. This trend underscores the significance of app development services in driving digital transformation across industries.

5. Security and Privacy Concerns: Security remains a top concern for mobile app developers, given the increasing frequency of data breaches and privacy violations. Ensuring robust encryption, secure authentication mechanisms, and compliance with data protection regulations are imperative. Addressing security and privacy concerns is essential for app development services to build trust and credibility among users.

6. Fragmentation in the Mobile Ecosystem: The fragmented mobile ecosystem challenges developers to ensure compatibility and optimal performance across various devices. Therefore, Meticulous testing and optimization efforts are required to deliver consistent user experiences in application development.

7. Balancing Performance and Battery Life: Optimizing app performance while minimizing battery consumption remains a crucial consideration for mobile app developers. Hence, Efficient coding, caching mechanisms, and performance optimization are crucial for app performance and device longevity.

8. Adapting to Regulatory Changes: Navigating the evolving regulatory landscape, including data privacy laws and app store guidelines, presents challenges for mobile app developers. Hence, staying informed about regulatory changes and ensuring compliance with standards and regulations is essential. Adapting practices and processes to meet evolving regulatory requirements is crucial to maintaining app functionality and user experience.

9. Emphasis on Continuous Integration and Delivery (CI/CD): Embracing CI/CD practices is essential for mobile app developers to ensure rapid and efficient deployment of updates and features. Continuous integration facilitates automated testing and integration of code changes, while continuous delivery enables seamless deployment. Adopting CI/CD pipelines accelerates time-to-market and enhances app quality, emphasizing agility and efficiency in application development.

10. Leveraging App Analytics for Insights: Mobile app developers are leveraging app analytics tools to gain valuable insights into user behavior, preferences, and engagement patterns. Harnessing app analytics empowers developers to make data-driven decisions that enhance app performance and relevance in the market.

In conclusion, navigating the USA mobile app development market in 2024 requires embracing trends, addressing challenges, and delivering innovative solutions. From prioritizing user experience design to ensuring compliance with regulatory requirements, app development services play a crucial role in driving digital innovation and meeting the evolving needs of businesses. By staying abreast of trends and leveraging cutting-edge technologies, developers can position themselves for success in the dynamic and competitive USA market.

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In this article, we will discuss the importance of customer retention for Saas companies and how to build a customer retention strategy. We will also explore how technology can be leveraged to improve customer retention, and provide case studies of successful customer retention strategies. So let’s get started.

Understanding the Importance of Customer Retention for Saas Companies

Customer retention is crucial for Saas companies for several reasons. Firstly, the cost of acquiring a new customer is much higher than retaining an existing one. According to Harvard Business Review, acquiring a new customer can be five to twenty-five times more expensive than retaining an existing one. Therefore, customer retention can save Saas companies a significant amount of money in the long run.

Additionally, customer churn can have a negative impact on a Saas company’s revenue. If customers fail to become repeat members, the company will struggle to grow its revenue. On the other hand, if a company can retain its customers, it will experience steady revenue growth. In fact, a study by Bain & Company found that increasing customer retention rates by just 5% can increase profits by 25% to 95%.

Furthermore, customer retention has several other benefits for Saas companies. Retained customers are more likely to be satisfied with the product and refer others, which can lead to organic growth. Retained customers are more likely to spend more money over time, as they become more familiar with the product. 

Building a Customer Retention Strategy

To build a successful customer retention strategy, Saas companies must understand their customers’ needs and preferences. This can be done through customer surveys, feedback, and data analytics. Once a company understands its customers, it can implement several key components of a customer retention strategy:

1. Understanding customer needs and preferences: Saas companies should strive to understand their customers’ needs and preferences to provide a personalized experience. This can be achieved through customer surveys and feedback, as well as data analytics.

2. Measuring customer satisfaction and engagement: Saas companies should measure customer satisfaction and engagement to ensure that customers are happy with the product and actively using it. This can be done through Net Promoter Score (NPS) surveys, customer feedback, and data analytics.

3. Offering personalized experiences: Saas companies should offer personalized experiences to retain customers. This can be achieved through personalized emails, in-app messaging, and customized content. Personalization can make customers feel valued and improve their overall experience with the product.

4. Providing excellent customer support: Providing excellent customer support is critical for customer retention. Saas companies should ensure that they have a knowledgeable support team that can provide timely and helpful assistance to customers. This can include offering self-service options and implementing a ticketing system to track customer inquiries and resolutions.

5. Continuous improvement: Saas companies should constantly strive to improve their product and services. They should actively seek customer feedback and use it to make improvements to the product. Continuous improvement can help ensure that customers remain satisfied with the product and are less likely to churn.

Leveraging Technology to Improve Customer Retention

Technology can be a powerful tool for improving customer retention for Saas companies. Some ways that technology can be leveraged include:

1. Implementing customer relationship management (CRM) tools: CRM tools can help Saas companies keep track of customer interactions and ensure that they are providing personalized experiences. These tools can also help companies identify opportunities for upselling and cross-selling to existing customers.

2. Leveraging data analytics to understand customer behavior: Data analytics can provide valuable insights into customer behavior and preferences. Saas companies can use this data to identify patterns and trends, and make data-driven decisions to improve the customer experience.

3. Offering self-service options: Offering self-service options such as knowledge bases, FAQs, and tutorials can help customers quickly find answers to their questions and solve issues on their own. This can improve customer satisfaction and reduce the workload on the support team.

4. Utilizing marketing automation: Marketing automation can be used to deliver personalized content and messages to customers at various stages of the customer journey. This can help keep customers engaged and improve their overall experience with the product.

Examples of Successful Customer Retention Strategies.

Several Saas companies have implemented successful customer retention strategies. Here are a few examples:

1. HubSpot: HubSpot is a marketing, sales, and service software company that has a strong focus on customer retention. They offer a range of self-service options, including a knowledge base and community forum. They also provide personalized content and offers to customers based on their behavior and interests.

2. Dropbox: Dropbox is a cloud storage and file sharing company that has a strong focus on customer satisfaction. They offer a simple and intuitive user interface, as well as 24/7 customer support. They also actively seek customer feedback and use it to make improvements to the product.

3. Salesforce: Salesforce is a customer relationship management software company that has a strong focus on personalized experiences. They offer personalized onboarding, training, and support to customers. They also provide customers with a range of self-service options, including a knowledge base and community forum.

Conclusion: 

In conclusion, customer retention is critical for the success of Saas companies. By understanding the importance of customer retention, building a customer retention strategy, and leveraging technology, Saas companies can improve customer satisfaction, reduce churn, and grow revenue. By following the examples of successful Saas companies and continuously striving for improvement, Saas companies can build a loyal customer base and achieve long-term success.

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Although cannot match the exact ability of the human brain, Deep Learning allows systems to collect data in clusters and make predictions with superb accuracy.

Deep Learning facilitates various AI (Artificial intelligence) applications, AI services & solutions, and enhances automation capability without any human intervention, it incredibly performs physical and analytical tasks with the highest accuracy.

For example, digital products & services like digital chatbots/virtual assistants, credit card fraud detection systems, voice-controlled TV remotes, and emerging technologies like self-driving cars, all are seamlessly backed by Deep Learning capabilities.

Deep Learning technology is essentially a neural network that has three or more layers. These neural networks simulate human brain behavior and try to learn from large amounts of data extracted.

In neural networks (with three or even more layers), a single layer can still make predictions that are approximately correct while additional layers help to optimize as well as refine for accuracy.

Deep Learning – How Does it Work?

Several layers of neural networks are a set of algorithms that mimic human brains driving Deep Learning technology. Deep Learning is powered by these algorithms that are modeled like human brains, or the way they (human brains) work! What configures the neural network? Training with enormous data configures the neurons present in the very network.

This allows the consequent Deep Learning model to adequately train to process new data. Deep Learning models accept data/information from varied data sources and then analyze them in real-time without any human intervention.

Deep Learning allows optimization of GPUs (Graphics Processing Units) for training models and prepares them to process multiple computations at a time/simultaneously.

Many AI applications are backed by Deep Learning to improve automation tasks and various analytical tasks. When you browse the internet, when you use mobile phones and other AI-ML-enabled electronic devices, you automatically interact with Deep Learning technology.

Other myriad AI-ML-Deep Learning applications include generating captions for YouTube videos, voice commands, speech recognition on smart speakers/smartphones, self-driving cars, facial recognition, and so on.

Deep Delve into Deep Learning Neural Networks

Also called Artificial Neural Networks, Deep Learning Neural networks emulate the human brain through a fine combination of Data Inputs (X), Weights (W), and Bias (B) – the learnable parameters within neural networks.

These elements (X, W, B) collaborate to work together towards accurately recognizing, classifying, and describing objects within the present data.

Simplest Types

• Forward Propagation
• Backward Propagation

Deep Learning Neural Networks are composed of several layers of nodes that are interconnected, and each of them is built upon the previous layer to optimize and refine the categorization or the predictions. This is how the computations progress through the network and is called Forward Propagation.

The two layers of the Deep Neural Network, input, and output layers, are called Visible Layers. In the input layer, the Deep Learning model ingests data to process while in the output layer, the final classification or the final prediction is made.

Backward Propagation is another method or process that uses gradient descent kind of algorithms, for calculating errors in predictions, and then adjusting the function’s weights & biases by moving backward through the network layers, in an attempt to train the very model.

Both the processes, Forward Propagation and Backward Propagation make it possible for a neural network to make predictions, to correct errors if any. Gradually the Deep Learning algorithm adjusts, fits itself, and becomes more efficient and accurate over time.

Complex Types

• CNNs (Convolutional Neural Networks)
• RNNs (Recurrent Neural Networks)

Deep Learning Algorithms are very complex in character. Forward Progression & Backward Progression are the simple types of Deep Learning algorithms but CNN’s & RNNs are the complex types that address specific datasets or problems.

CNNs (Convolutional Neural Networks) are primarily used in computer vision, and applications related to image classification and can detect varied patterns, and features within an image, thereby enabling tasks such as object detection, object classification, object recognition, and so on.

RNNs (Recurrent Neural Networks) are primarily used for NLP (Natural Language Processing) applications and speech recognition applications. RNN leverages sequential data or time-series data.

Deep Learning Evolution – A Summary

The Deep Learning evolutionary journey started with the creation of a specific computer model in 1943. Warren McCulloch and Walter Pitts developed a computer model that was based on the neural networks of the human brain. They used  ‘threshold logic’, a fine combination of specific algorithms, and mathematics, to mimic, to copy the thought process.

From that day onward, Deep Learning has continued to evolve except for two major breaks in its development during the infamous AI (Artificial Intelligence) winters, somewhere between 1974 -1980, and 1987-1993.

Note- Artificial Winters refers to a period when AI funding and commercial research dries up. It is a quiet period for AI-related activities/funding/research, development, etc. Whereas, Artificial Summers refers to a period seeing AI innovation and investments peak, and become active.

In The 1960s

In 1960, Henry J. Kelley developed the basics of a continuous Back Propagation Model. Then, in 1962 Stuart Dreyfus developed a simpler version that was based on the chain rule. Alexey Grigoryevich Ivakhnenko developed the Group method of data handling while Valentin Grigorʹevich Lapa wrote Cybernetics & Forecasting Techniques, and they were the ones who made the earliest efforts in developing deep learning algorithms in the year 1965.

In The 1970s

The first Artificial Intelligence (AI) winter occurred during the 1970s. It hugely impacted Deep Learning research (and the whole AI). However, few individuals continued AI-ML Deep Learning research without external help/funding. Kunihiko Fukushima was the first to use CNNs (Convolutional Neural Networks). He designed neural networks with various pooling & convolutional layers.

And then in 1979, he developed ANN (Artificial Neural Network) which was termed Neocognitron and it used a multilayered design, on a hierarchical pattern. This design allowed computer system to learn and recognize visual patterns.

Though invented in 1960 by Henry J.Kelley, Back Propagation Model significantly evolved in 1970. It was made possible by Seppo Linnainmaa when he wrote his master thesis and a FORTRAN code for Back Propagation.

However, this concept was ultimately applied to neural networks only in 1985 when Williams, Hinton, and Rumelhart demonstrated this DL model (Back Propagation DL Model) in a neural network that could provide some interesting distribution representations.

In The 1980s & 1990s

Yann LeCun was the first to provide any practical demonstration of the Back Propagation Model at Bell Labs in the year 1989. Then the second Artificial Intelligence winter kicked in during this tenure, i.e. during 1985-90s. This hurt DL research and neural networks.

It was during this period that the situations pushed  AI to a pseudoscience status. Then it bounced back in 1995 with the development of SVM (Support Vector Machine) and in 1997, LSTM (Long Short-Term Memory) was developed for recurrent neural networks. In 1999, GPUs (Graphics Processing Units) were developed.

From 2000-2010

The Vanishing Gradient Problem appeared somewhere around the year 2000. It was exposed that those lessons or features that formed in lower layers were not being taken/learned by upper layers as well. Learning signals could not reach the upper layers, so this gap existed.

However, it was also found that this problem was not meant for all neural networks, just those with gradient-based learning models. In the year 2001, Gartner (then META Group) revealed a research report explaining data growth opportunities and challenges as three-dimensional.

This also led to the onset of Big Data during that period. In 2009, Professor Fei-Fei Li at Stanford launched ImageNet. He assembled one free database that consisted of over 14 million labeled images. These labeled mages were required to train neural nets.

2011-2020

The speed and efficiency of GPUs had significantly increased by 2011. This enabled them to train CNNs without pre-training on the layer-by-layer pattern. The very increased speed made Deep Learning create a significant impact in the ecosystem, such as the creation of AlexNet.

ALexNet was a CNN whose architecture won many international technology awards in 2011 & 2012. Rectified Linear Units helped in enhancing speed & dropout. Then in 2012, Google Brain released The CAT Experiment. It explored the challenges of ‘unsupervised learning’. And Deep Learning uses ‘Supervised Learning’. Many experiments and projects followed during this tenure.

In 2014, GAN (Generative Adversarial Neural Network) was introduced by Ian Good fellow in the DL segment. Using GAN, two NN (Neural Networks) can play against each other in a game. GAN facilitates the perfection of a product.

Importance Of Deep Learning

Deep Learning facilitates maximum accuracy and superiority in terms of data handling and management. Technology companies worldwide are increasingly investing in AI-ML Deep Learning technology as it allows maximum trust via supreme accuracy. This further leads to better decision-making abilities across industries. Deep Learning technology makes machines smarter.

For instance, Google ALphaGO defeated Lee Sedol, one of the world’s legendary professional  Go players, and it had become the news headline.

Google Search engine immensely uses Deep Learning technology, and in other applications like speech recognition systems, self-driving cars, drones, etc. the very digital technology is impacting across industries with immense digital capabilities leading to garnering maximum business returns.

Also Read:

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Blockchain incorporates existing digital technologies & techniques that include asset tokenization, distributed digital ledgers, immutable records management, encryption, and decentralized governance for capturing/ recording information that participants or users need for interactions and transactions over a network. 

Blockchain does not involve any intermediary such as a bank, to validate and protect the transactions being done. Blockchain development is the new-age mantra for companies globally to meet business goals.

With its decentralized nature, Blockchain is becoming the mainstream technology empowering varied applications and possessing massive use-cases across industries. The only technology that can guarantee ‘ trust’ in the ecosystem.

Businesses are increasingly adopting Blockchain technology worldwide, integrating it into the existing model, or completely recreating a new one focusing on Blockchain capabilities. However, there’s been a huge demand-supply gap. Blockchain development is the need of the hour.

Let’s go bit-by-bit and understand the basic terminology of Blockchain technology, its massive capabilities, and how it impacts businesses across industries the world over. A complete guide to Blockchain development!

In Short – 

• Blockchain digital technology enables businesses, people, and machines, who may or may not know each other, to conduct varied monetary transactions, exchanging information, and assets with each other without the involvement of any intermediary. In short, the technology enables all of them to exchange value in a digital environment and there’s no need for third-party involvement or negotiator, just the two or more entities, on a direct basis

• Blockchain is a kind of digital ledger or distributed ledger, and today, varied Blockchain solutions are continuing to mature unabated, for example, in terms of scalability, and are expected to underpin, and support entirely new business models, social and economic models that will ultimately redefine the society we live in.

• Complete Blockchain technology combines 5 design elements for authenticating users, validating varied transactions while recording information to the ledger, and all of these are done in a way that cannot be changed and corrupted at any time, later. Once done, cannot be undone, to be clear in terms of Blockchain’s secured transaction model that is corruption-proof, and no mediator is needed.

Why BlockChain Development for Companies

If you are an organization from just any industry, Blockchain-inspired record management, and secured transactions without involving a third-party mediator that can lead to huge cost-saving potential, are a few reasons you should think about Blockchain development to propel business growth. Be it the banking sector,  healthcare industry, retail management, fintech, real estate, and others, blockchain such as cryptocurrency is increasingly revolutionizing respective eco spaces. 

Mobile payment solutions, healthcare apps, retail apps, mobile banking solutions, etc. are highly incorporating the Blockchain capabilities, globally. You must consult a dedicated web  & mobile app development company that can guide you regarding blockchain development and your project requirement, viz., Ethereum development, cryptocurrency wallets, hyper ledger development, smart contract, your internal/private Blockchain like Quorum development that allows private transactions, NEO, EOS, Qtum, TEzos, and so on.

Startups, SMBs, and enterprises across the globe are taking a keen interest in adopting blockchain for their businesses, thanks to the technology that can record, store, and move any sorts of assets, and transactions in a decentralized manner with great ease and perfect automation. Multiple use-cases and applications of Blockchain technology in multiple areas across the business framework are catapulting industries to invest more and more in the technology concerned!

Why the Name ‘Blockchain’

Blockchain allows varied transactions, like transactions of money, information, assets, etc., and these transactions are grouped in blocks. As they are grouped in blocks, they get recorded one after the other, in a chain of blocks. That’s why the name Blockchain is kept. 

The links that connect blocks with their content are secured, protected purely by cryptography, and this prevents previous transactions from being forged or destroyed or changed. Secured authorization access is guaranteed! Without any middleman or the mediator or the central authority, the ledger, or the transaction network is trusted because of the authenticity that the Blockchain development provides to entities involved.

Types of Blockchain

There are two types of Blockchain and the very types determine who can participate within a Blockchain network.

These two types are – Public & Private blockchains.

Public Blockchain

In the Public Blockchain network, all participants have access to the network that can take part in the consensus. Anyone who has internet access can join this type of Blockchain network. There’s no onboarding requirement and as a user, you just don’t have to ask anyone for joining permission.

In fact, there’s no single authority on this network type and is decentralized in nature. All transactions done over a public blockchain are visible to every node present on the very network. For example, Bitcoin is a public blockchain network, and transactions done over it can be viewed by anyone. Using a block explorer, you can view all the latest bitcoin blocks and transactions done so far.

Private Blockchain

The private Blockchain network assures one thing  – your privacy. There is inbuilt trust amongst participants in the very blockchain network. The participants who are invited to this blockchain network can only access the information stored therein. Private Blockchain Networks are considered semi-trusted networks.

In this type of blockchain, all participants mutually agree upon using blocks, and how to leverage the blockchain capabilities. For example, Consortium Blockchain is a private blockchain network that allows users to leverage its capabilities by evenly distributing authority to participants and that can act in the best way possible benefiting those in the network.

There exists transaction privacy from the public glare. Consortium Blockchain (a private blockchain) can even restrict the authority to participate in consensus. This blockchain type can enforce trust by restricting participants, allowing them just to involve invalidation. These groups of participants are known as consortiums. Then, data privacy is greatly maintained under this blockchain type.

Blockchain Protocols for your Custom Solution

There exist varied Blockchain protocols but the most well-known cryptocurrency protocol is Bitcoin. The network of Bitcoin blockchain was developed for Bitcoin cryptocurrency. The main function that the Bitcoin blockchain network does is to store Bitcoin value. And Bitcoin values can be transferred from one to another and in a trustless manner!

The Ethereum protocol is a general-use blockchain protocol. Ethereum takes forward functionalities/functions that had been created by the  Bitcoin cryptocurrency towards the provision of a protocol that would facilitate the writing of smaller programs, as well as simple value transfers! The core of Ethereum is its effects and the ability to add logic as well as codes instead of mere simple fixed value transfers!

As a technology guide, we’d recommend you adopt a general use blockchain protocol such as Ethereum or Hyperledger fabric. These two protocols can help you leverage the best blockchain capabilities for your custom blockchain solution. They are programmable blockchains, have multiple use cases, and can be used for several scenarios. Ethereum protocol and other types of general use protocols, use, and apply smart contracts, that allow them to encode business logic and state.

Blockchain – How Does it Work

So, how does blockchain work behind the scenes? We will see in-depth detail:

• Data Distribution – How Data is Distributed?

In a scenario where multiple companies are involved, it’d be so easy to build a centralized database system. But what if no company wants to be the central authority and take accountability for database management? In that case, we use a quality blockchain distributed ledger. Why so? Because using a blockchain ledger does not require any central authority.

It removes this requirement from the scenario. Moreover, a distributed ledger system allows all participants who are having blockchain nodes, to have a copy of that ledger so that they can perform custom auditing matching their unique requirements, and integrating them with their respective systems. Usually, it is not necessary that each company/participant should have a separate node of its own. They can share nodes between themselves as per mutual understanding and get the work done appropriately.

It works the way that using a blockchain network, each node gets connected to other nodes. One-to-one relationships of these nodes with participants or companies are not necessary.

• Changing the State of Data in Blockchain

Data in a blockchain network represents its state. This is the reason why digital tokens such as cryptocurrency fit in a blockchain environment. For example, when we talk about physical coins/currency, its ownership changes with every owner it has. A person having a coin in his pocket is considered the owner of that coin. And as that coin moves to other pockets, its state of ownership changes accordingly. Thus, to change the data state from one value to another, Blockchain uses certain transactions to do it.

The very digital technology sends a particular transaction across the blockchain network and each node gets one copy of that very transaction.

The blockchain that sends the transaction throughout a network is copied to all node peers of the blockchain participants. Thus, despite each node now processing the transaction, it needs a validation process by adopting a consensus mechanism. And why the consensus mechanism? It enables a certain amount of consistency, as well as trust for the very distributed ledger managing database.

• How to Trust the  Consistency Aspect of Ledger Data

It is not easy to determine what is true when data changes so frequently over a distributed network. These changes should occur throughout all the nodes.

Blockchain technology adopts a consensus mechanism for validation, to agree on the data across all these blockchain nodes. A consensus mechanism used by blockchain provides a platform over which all decentralized nodes are converted to the same state.

During the transfer of responsibility, any value, it is the order that matters. The consensus mechanism ensures the correctness of the order of multiple transactions while maintaining the integrity of the blockchain network. During this process of consensus mechanism, a transaction group is validated in the form of a block, and participants in the blockchain network must agree to allow that block to be included in the very network.

As of today, there exist varied blockchain consensus algorithms. That includes proof of work, proof of authority as well as proof of stake. Each of these algorithms has a different approach to solving consistency matters. In short, the very consensus mechanism facilitates a situation where the distributed ledger arrives at a common state, getting consistent with each other.

• Block – What is its Meaning?

A block in the blockchain network is a cluster of data that is responsible for storing transaction information across the network. The number of transactions happening in a block is purely time-based. It tells you how many transactions occurred, say, in the last  10 minutes,20 minutes, within a block.

Based on the consensus mechanism, blocks that are validated are automatically added to the blockchain at every node. And since all the nodes in the network have the same blocks in the chain, the ledger maintains a complete consistency. Consequently, all the nodes consist of the same and common validated data now. Data consistency is accurately maintained.

• How to Trust if Ledger is Immutable?

So, if you think that you can change data if it is in your node, you are wrong. Because data is immutable here. How?

To create a link between blocks, blockchain technology uses a cryptographic hash. This way, the order of all transactions occurring can be agreed upon using the consensus mechanism(its algorithm).

What is a cryptographic hash? It is also an algorithm. It is assigned to map data of arbitrary sizes and make them a bit representation of the fixed sizes. It is just like a digital fingerprint. For instance, the Bitcoin cryptocurrency uses an algorithm – SHA-256 hash. If you have performed any function using an SHA-256 hash algorithm on a 100-page document, a 256-bit hash value will be the function output.

And when you change even just one character in that document and then regenerate the hash, a different 256-bit hash value will be the output. So, what would it be like when you use a block as an input to the hash function? The output that you get will be an entirely unique hash value for the data in the block.

To detect changes made to the blocks, if any, Blockchain uses hashes only. It includes the hash value of the previous block while generating the hash value for the next block. This way, through hashes, all the blocks are chained together!

Thus, using blockchain technology, trust is guaranteed. The very digital technology assures 100% trust just by using hashes. This way, it is sure that data records and history have not changed at all. That data has not been altered by any means. An immutable chain of transactions is created in order by including the previous block’s hashes while creating a new block.

Data is immutable and is guaranteed based on hashes. In the chain, if any modification/change is being done with any block, the upcoming blocks/later blocks will show a different hash. And discrepancy will be discovered via the validation process.

• Trusted Logic at Each Node

Storing data over a blockchain network is a trusted practice that you should know now for your business returns. The major reason behind your decision for blockchain development could be trusted data storage and data security. Blockchain technology allows you to store data in a consistent and trusted manner.

And you can apply this at each of your nodes, you can add logic that is executable at each node in the same form. There exists a logic that facilitates a seamless transfer of responsibilities of the product amongst participants. Application on a distributed computing system is called DApp (decentralized application).

Ethereum Dapps are known as Smart Contracts. A smart contract is composed of logic that is run and executed as a mandatory part of any transaction happening. Over Ethereum, you adopt a programming language called Solidity, and this language is used to create your program logic over the Ethereum network.

So, how does it work?

When you use a smart contract, you are creating an instance. Smart contracts are referenced using an address when they are being deployed to the blockchain network.  A smart contract instance carries program logic and state data.

A transaction is executed when a product responsibility is transferred to another party. Worth noting is that the smart contract logic is executed at each & every node! Also, Smart Contract is immutable just like data in the blockchain. No changes can be done once data enters the network. It means that once deployed, you can not change the logic of your smart contract. That’s why, smart contract logic is so trustworthy across the network, as it always executes the same on all nodes. If any code change is required, you need to deploy an entirely new smart contract at a new address!!

Why Choose Blockchain Development

Blockchain technology assures immense security for your data across industries. In the present surge of cyber threats and hacking software, blockchain comes as a big relief to businesses on a global platter. B2b,b2c, Start-UP, SMB, or an enterprise, blockchain development is the need of the hour. The blockchain development solutions & services lead to the creation of decentralized blockchain networks and this provides massive security and traceability of innumerable data and transactions from time to time.

A reliable web & mobile development company can help you develop a quality blockchain solution matching your business needs. The company can even guide you on whether you need a custom blockchain solution or need end-to-end blockchain application development services for desired outcomes. Blockchain development for your organization will lead you to leverage the best use cases offered by the very digital technology.

A typical blockchain solution supports:

• Supply Chain & Logistic Management
• Health Record Management(EHR)
• Financial Transaction Management
• Insurance Claim Management
• Asset Management
• Safe Document Management
• Identity & Access Management
• Electronic Voting
• E-Commerce & Marketplace Management

Blockchain development solutions can range from :

• Private Blockchain networks

It allows you for a secured and scalable ecosystem that is permission-based and involves a very less downtime(if any), or zero downtime

• Smart Contracts

Blockchain protocols allow integrity and  security, enforcing strict multi-party agreements

• DApps (Decentralized Apps)

Peer-to-peer apps with thorough encryption, zero downtime, and not any single point of failure assured

• DAOs (Decentralized Autonomous Organizations)

Blockchain model that boosts collaborative decision-making, and leads to a high level of productivity and business outcomes

• Crypto Wallets

Digital wallets that store, handle, and manipulate cryptocurrencies like Bitcoin, Ripple, Etherium, etc. in an efficient and effective manner 

• Blockchain-enabled Market Platforms

Facilitating fraud-free,safe and secured,transparent peer-to-peer transaction platforms.For example, for lending platforms, b2b,b2c online marketplaces,etc.

• Platforms for Asset Tokenization

Just like NFT platforms. It creates decentralized platforms and allows trades amongst users using their tokens.

What Value Does Blockchain Add to Your platform?

Blockchain technology has multiple use cases across industries in varied functional areas.

You can think of implementing a value-based blockchain solution across your financial domains, government channels, healthcare or retail domains, and varied industries that you want to bring about safety, security, transparency, and scalability to the ecosystem. A unique blockchain development solution can transform the business model that can lead you to an elevated position in the market giving you a competitive edge over others.

The  Blockchain technology can add value to your businesses by securing:

• Traceability
• Transparency
• Improved speed
• Huge cost reduction and time-saving opportunities
• Competitive edge

Continue Reading about more Blockchain-related topics:

What is Ripple Blockchain App & how does it work?

Prediction of Blockchain and its Future Operations

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A lot new is happening in the Android universe. What’s so common among Talkback, Jetpack Glance, Google Play Games for PC, Android Gradle PLUGIn APIs, Datastores, Jetpack Watch Face library? Well, all these terms denote the new and notable features in the Android app development world. In this blog, we will discuss the Top Android App Development Trends for the year 2022. So, is your business well equipped in the competitive app market? Read on, and find yourself!

Android 12

Android12 is the latest release in the Android segment. The current version provides users with better, redesigned privacy features, providing more personal, safe, and seamless experiences on your Android-compatible devices. Striking UI new features and other power-packed digital tools are promising enough to kickstart your Android app development journey towards a marvelous future. This next version of the Android family, Android 12, thus, is geared to provide an entirely new set of experiences, right from the people-centric UI (user Interface) to far stronger protections for your web/mobile app users.

Factors to Consider

• Target Market/Audience
• Competitors
• Target Users’ Needs
• Trends

Let’s focus on the trends now!

Trend#1 Adopting Jetpack Glance Alpha for App Widgets

Jetpack Glance is available now in Android which is a new framework that is designed to build app widgets for varied surfaces and home screens, in a faster, easier manner. Jetpack Glance is almost similar to Jetpack Compose and provides Android app developers with the same Kotlin APIs.These APIs help to build app widgets that look attractive as well as far responsive. The plus point is they are very light-code-based APIs (very less codes). These app widgets are going to prove very useful for Android users which are motivating mobile app development companies to adopt this trend for their clients in 2022.

Trend#2 Adopting Kotlin Programming Language

Kotlin has now become the official language for Android app developers. And despite JAVA being the popular go-to-platform coding language for Android developers/Android app development companies, Kotlin is becoming a hot alternative. There are indeed certain advantages of using Kotlin over JAVA in the mobile app development sector:

• Short, simple coding
• Compatible with JAVA frameworks,
• Can easily switch to Kotlin from JAVA
• Eliminates Null References/NPE from coding
• Perfectly deals with JAVA flaws
• Efficient multithreading features
• Cross-platform & native-like performance
• Can write Gradle Codes that enables you to build iOS apps

Trend#3 Adopting Blockchain

Adopting Blockchain technology applications is another top trend for Android app development in 2022. The blockchain market is estimated to reach US$67.4 billion by the year 2026. Top companies are leveraging the immense capabilities of Blockchain in their mobile app development areas. Why so trending? Because Blockchain technology allows data security, data privacy owing to its being a decentralized ledger. Speed, transparency are the other characteristics that are attracting companies to adopt the technology in their Android app development process. Few mobile applications you can think to build using Blockchain are:

• Digital payments apps
• Healthcare/Medical data storage apps
• Supply Chain & logistics monitoring apps
• Cryptocurrency  apps

Trend#4 Mobile Commerce

Businesses across the globe have shifted towards mobile app development for M-Commerce owing to the massive disruptions caused by the COVID-19 crisis. People are reluctant to step out of home and conduct business, shopping, buying groceries, etc. This has propelled the growth of mobile commerce which allows business transactions, online shopping via smartphone/mobile phone devices. Payment, healthcare, banking, retail sectors are hugely benefitting out of this model of app business and are expected to be another top trend for Android app development in 2022. Just for instance, in 2020, the retail mobile commerce sales reached  approx.US $38B in India.

Trend#5 AR/VR Apps

AR(Augmented Reality) and VR (Virtual Reality) apps are increasingly making inroads to the Android app development arena thanks to their high-performing business returns globally. A massive 4 million units of Consumer VR headsets were sold alone in the last year( 2021). Even AR industrial use cases are continuously evolving, viz., AR technology is helping surgeons, clinicians in healthcare, farmers in cultivation, virtual shopping in the e-commerce sector, AR filters increasing social interactions, and so many more aspects of AR/VR are likely to make them a top trending technology for Android app development company in 2022. Enabling technologies like Artificial Intelligence (AI), Internet-of-Things (IoT),5G wireless networks all in a collaborative manner will excel in the sector.

Trend#6 Cloud-Based Mobile Apps

Businesses, enterprises, start-ups all are highly concerned about their data safety and security and adopting cost-effective methodologies like migrating to Cloud Apps. This allows a huge cost-saving towards data safety as they don’t have to depend on mere mobile devices and smartphones’ storage capacity/memory. Cloud-based Android mobile apps can help you keep massive, herculean data safe and protected, and you can access these data via apps from anywhere and process them simultaneously. It is indeed a great choice for businesses to adopt this trend because Cloud-based mobile apps provide a secure, safe platform for storing crucial data and also are flexible in nature.

Trend#7 Adopting Cross-Platform Apps

Hybrid mobile app development that allows apps to function across devices, cross-platform Android app development that allows apps to work across platforms, are going to rule the app world in 2022 and beyond. Open-source technologies like Flutter, ReactNative are already in demand for businesses across industries on a global platter. The convenience, efficiency, productivity, scalability that these technologies bring to the mobile app development table are worth integrating into the app business without a blink!

Conclusion

If you want to increase the size of your customer base, you need to build custom Android apps for your specific business.B2B, B2C, C2C, whatever category you belong to, you just need to follow the given top trends for your Android App development journey in 2022.

If you want to race ahead of your competitors, adopt the current Android app development trends and start your app journey right away. Connect with us, and find out How to Start!

The post Top Trends that Will Rule Android App Development in 2022 appeared first on AI, ML and IoT application development company | Fusion Informatics.

Is your company ready for digital transformation? What’s your measurement score on the ‘Digital Maturity’ scale? Are you open to adopting the ‘Bionic Approach’? Where do you stand now, and where do you want to go? Unmounting questions need an articulate answer!

Digital transformation is not an overrated terminology for business leaders, for, the current pandemic crisis has only propelled its urgency quotient. Companies across industries are looking to enhance their data-driven decision-making skills, agility, and speed in the ecosystem.

A BCG survey reports, that 80% of over 5000 respondents (employees, managers)agreed that digital has helped them to face the wrath of pandemic-triggered economic slowdown so far.

Adopting a bionic approach involves the right blend of human capabilities and digital capabilities, and organizations that undergoing digital transformation apply those capabilities to all aspects of their business, thereby keeping the momentum going!

DX Building Blocks

Why Digital Transformation

Successful digital transformations allow organizations to sustain success! The process they undergo makes them “bionic” that does not require undergoing digital transformation again in the future, as they have mastered by now the knack of continuous innovations.

Digital technologies and various ways of working enhance productivity, and customer experiences as well as create new growth opportunities and innovative business models. This is the essence of a successful digital transformation within a company in an industry.

Top Segments & DX

The Davos Agenda in the ongoing WEF (World Economic Forum) in Switzerland, unites global business leaders on the significance of digital transformation and how in the past 18 months it has transformed the world in many ways.

Digital technologies have greatly contributed to society and business in a larger perspective – both, society and businesses continued to function even in lockdowns thanks to the massive capabilities of digital tools and technologies in the system.

They are being forthright on creating new mindsets and strategies to ensure a safe, equitable digital transformation that can be achieved across industries. They have applauded how digital has increased the demand for e-commerce, online learning, work-from-home, and more to see in 2022 and after.

How the rapid pace of digitalization and market infrastructure shifting from legacy markets to digitized ones are propelling DX in the ecosystem. Taking cues from the current  Davos Agenda and other research platforms, let’s explore specific sectors from varied industries and how they are faster in implementing digital transformation to boost growth.

1. Digital Supply Chain 

The global pandemic has hugely impacted the entire supply chain sector across the logistics industry. The crisis has forced industry leaders to think about digital transformation in the ecosystem to stay ahead in the race.

New strategies, business models, shifting focus towards navigating and responding to uncertainties like the pandemic crisis, and using innovations in a more agile manner, is what drive the supply-chain sector to undergo digital transformation and adapt to the ensuing changes.

As per Gartner, by the year 2024, 50% of the entire supply chain companies will invest in AI(Artificial Intelligence), Advanced Analytics-based applications/apps in their DX journey. Supply Chain digital transformation will allow companies to align with their strategies that will ensure smooth growth while mitigating risks and optimizing costs benefitting the entire sub-segment impacting the industry concerned.

The IoT (Internet of Things)technology, Big data, along with AI-ML and analytics will lead the supply chain technology areas supporting end-to-end processes in 2022 and beyond.

2. Online Learning

Digital transformation in the e-learning segment is making domains like corporate learning, skill development, and school/college education efficient and productive. Even before the pandemic struck, there was a huge demand for ed-tech tools. Web & mobile apps development, language apps, virtual tutoring, online learning software, digital learning mobile applications/apps, video conferencing tools, and AI-ML app-based e-learning tools & technologies will see a massive surge with time.

As per the UN Sustainable Development Report 2021, ed-tech investments reached US$18.66 Bn in 2019 while the overall market for online education/learning is projected to reach  US$350 Bn by 2025.

Thus, the e-learning domain is propelling the DX process reaping benefits like customized learning, greater accessibility, and use of nextgen technologies like AR/VR, AI-ML, Blockchain, etc. that allow personalized learning as well.

3. Telehealth

The current COVID crisis has demonstrated three significant things –

• The significance of telehealth; it allows telemedicine and virtual health visits in real-time.
• Integration of health data is so crucial and integral, especially in response to COVID  as tracking and distributing billions of vaccine doses are seamlessly done thanks to the power of digital in the ecosystem.
• The very pandemic crisis is greatly motivating digital technology workers/companies to develop more and more healthcare mobile apps, and telemedicine solutions, that will lead to improving human health and enhancing patients’ experience.

Thus, telehealth in the healthcare industry is set to leverage the power of digital technologies, and data science, giving the digital healthcare system a strong foundation. The very healthcare sector is indeed fanning digital transformation by adopting data-driven healthcare business models that allow digital intervention on a larger scale.

4. Fintech

The fintech sector is set to undergo a digital transformation journey backed by innovative, modernized digital tech infrastructure in the ecosystem. The financial world of tomorrow lies in developing state-of-the-art fintech solutions that can lead the way to an adaptable, better future.

With being customer-centric,mobile-first approaches and other goals in mind, the fintech model will see the following transformation in its DX journey–

• ­­­­­­Embedded finance or the fine integration of financial services into varied applications,app-based financial models.
• API distributions, Platform APIs will create an excellent environment for building scalable products on a global scale.
• The rise of open banking will increase transparency in the finance/banking industry thereby creating a convenient, modern financial model benefitting businesses, and clients without obstacles.
• Digital wallets will replace bank cards, and credit/debit cards in people’s lives, and card-less, touchless financial transactions will soon be the ultimate choice.
• Digital lending will be another facet of the fintech model that will hugely promote the  DX journey in 2022 and after.

5. Digital Agriculture/Farming

Moving forward via the DX journey, digital farming will rise above the genuine limitations of 4IR technologies(4^th Industrial Revolution tech). Unlocking varied agricultural innovations, and adopting Agricultural Data Exchange that will allow high-quality, reliable data exchanges in the agriculture sector prove valuable to help farmers at scale.

It helps to promote the present, available massive volumes of datasets in a usable format, thereby accelerating innovations along the lines of digital transformation. Thus, ADE aims to overcome the barriers of 4IR technologies, and aggregate, and connect data from multiple data providers /users thereby reducing data asymmetry in the complex agriculture environment.

The ‘last mile delivery’ start-up ecosystem, and public-private partnerships fostering multi-stakeholders collaboration will be effective models for scaling digital to harness farming eco-space.

This sector will boost DX speed by exploring the massive potentials of AI-ML, IoT, Robotics & drone-based farming solutions, mobile apps, blockchain, and many more. This move towards DX is going to help small-holder farmers and other stakeholders on a greater scale.

Spending on DX is Growing

The pandemic has widely accelerated digital adoption across all spheres of the business value chain. The global spending on the DX(digital transformation) in organizations, products, and business practices,  is forecast to touch US$2.8 Tr in 2025.

DX- A Game Changer For Enterprises

Digital Transformation is allowing businesses to combat shackles in their business eco-space. The process is not a one-time achievement but undergoes continued phases.

DX is ‘Work-In-Progress’. During lockdowns, varied digital technologies allowed companies to continue functioning, survive, and retain their decorum. And taking cues from this experience, the given sectors are highly prioritizing DX, as, someday the pandemic will be history, but, the DX journey will continue to evolve businesses across industries.

In digital transformation for a small business or an enterprise, adopting digital technologies is the key requirement to attain business goals and boost ROI.

Contact our experts for step-to-step guidance in your DX journey.

The post Top Industries for Digital Transformation in 2022 appeared first on AI, ML and IoT application development company | Fusion Informatics.

The healthcare industry has undergone a massive transformation in the past couple of years. There was a time when we thought of an artificial limb as a striking invention, and today companies are trying to collect genetic data for creating bio databases. There’s no dearth of innovative opportunities in healthcare provided there are the exquisite technology sets to give them fillip. The pandemic has only hastened a transition to digital health, while industry players are keen on investing more in them seeing how AI-ML-driven digital tools and applications are driving the whole game!

Digital Trend #1 Telemedicine

Telemedicine has come out to be the trendiest trend post-pandemic and is only getting stronger in the years to come. The shift in the healthcare practice after 2020 to restrict the spread of infections, emphasis on remote patient care, real-time virtual consultation, telePharmacy, teleradiology, teleNeurology, etc. are going to pick massively as a trend in the year 2022, and way beyond until this technology transforms to the next level. As per sources, telemedicine is expected to reach 460 billion USD by the year 2030.

Digital Trend #2  AI/ML

AI/ML  industry players are interestingly watching how these digital technologies are emerging as a trendsetter, and are keen on investing more in them. As per HIMSS survey conducted from March-April 2021, one-third of the total health system respondents (2,743 in the US) said AI/ML to be their top on the list for the coming five years. AI-ML-based treatments, discovering newer facets in medicine and research, avoiding physical tests, and using simulations to find the answers, all are on the list of trends in 2022 and beyond.

Digital Trend #3  AR/VR/MR

Modern healthcare practices are much influenced by computer-generated 3D graphics and several digital imaging tools. AR/VR/MR alongside AI-ML digital tools & technologies can create ripples in the healthcare domain and transform the ways of modern medicine being practiced. For instance, the medical fraternity can plan surgeries, therapies much in advance using simulation tools, and can see the procedures, results way ahead in advance. MR is used to control/manage medical procedures, equipment remotely and on time. These three ‘realities’ will become a massive trend in 2022, no doubt.

Digital Trend #4  AI-Robotics

AI (Artificial Intelligence)technology dons innumerable roles. If combined with Robotics technology, it can create robots that can act as an assistant to the medical team of doctors and nurses. Especially during the COVID times, we have seen how difficult it was to cater to COVID patients as infection could be transmitted to the attending doctors/nurses. AI robots can assist in many areas like remote diagnostics, administration, cleanliness, and the likes. This technology will become a trend next year onward as it is increasingly helping healthcare professionals while minimizing the risk of potential threats like disease transmission (for example COVID).

Digital Trend #5  Big Data & Analytics

Data is the core of healthcare management. Right from diagnostics, consultations, treatment plans to varied medical procedures, patient files generate enormous volumes of data, that are duly digitalized and securely stored somewhere in the Clouds. Big Data and analytics help to evaluate each piece of data, arrange them properly and accurately, in an organized manner. Thus, the advancement in computing capabilities, analytics, advanced databases all greatly prompt Big Data in healthcare to manage things as mentioned. Further, big data analytics tools process data and provide actionable insights, information that helps in the decision-making process of the healthcare stakeholders.

Digital Trend #6  IoMT

IoT ( Internet- of- things) combined with telehealth technologies, IoMT (Internet-of-Medical-Things) have emerged. The healthcare sector has been leveraging the technology in a big way and the market is expected to reach 6.2trillion USD by the year 2025. Looking at the scope of telemedicine, IoMT is equally going to be a bigger trend in 2022.

Digital Trend #7 Cyber Security & BlockChain Technology

Data security, data privacy is paramount. Digitalization of medical information, healthcare services call for total protection of data. Patient information like bank account detail, payment identification numbers, social security numbers, etc. need strong firewalls to secure, hide those sensitive data, and other AI-powered cyber security tools to protect. Blockchain technology also seals the authenticity of the authorized members as there is no chance of making any modification once the data are entered.

What Tech Trends Suit Your Healthcare Business?

The healthcare technology trends or the digital healthcare trends have started picking up albeit not at the same pace and proportion but Yes, they are! A majority of these trends are surely going to become an integral part of the healthcare ecosystem, the way healthcare services will get delivered and the way consumed. The bottom line is, which trend does meet your healthcare business requirement!? Point to ponder.

Are you a healthcare company, hospital, Start-UP, SMB, or enterprise, willing to explore the healthcare digital technology trends that might uplift your business prospect? Contact our experts!

The post Top Healthcare Digital Technology Trends 2022 appeared first on AI, ML and IoT application development company | Fusion Informatics.

Ever since the outbreak of COVID-19, digital technologies have taken a front seat in businesses across industries globally. The healthcare industry is harnessing the massive potential of digital in response to the pandemic, leveraging billions of online datasets, mobile phones, and connected devices. AI-ML NLP advances and varied other technological capabilities have made inevitable inroads into the lives of people, and healthcare businesses across platforms. The entire perception has transformed about healthcare and its massive appeal and consumers have undergone a major awakening in terms of being healthy via digital adoption. Covid-led unprecedented public health emergency has unfurled few things – Wider technological dependence with greater emphasis on remote-care, preventive measures while protecting personal data, adhering to privacy norms.COVID-19 pandemic is now acting as the biggest transformation catalyst in the consumers’ behavior and businesses involved in the healthcare sector. Let’s explore briefly but precisely!

1. Telemedicine

Covid-19 has created a paradigm shift in the healthcare sector,  focusing on virtual setups and remote treatment of patients. People got confined to homes and getting ill meant consulting a doctor on a digital platform. Several telemedicine apps have come to the fore and are surging on a greater scale today. Telemedicine is allowing healthcare providers to deliver healthcare services remotely. Technology is playing the main role, and remote patient care, online consultation, virtual treatment,home-diagnostics, etc. are helping people immensely. People are happy with telemedicine procedures and the healthcare fraternity, too. This acceptance is leading to massive adoption of digital technologies like AI, Robotics, IoT, Blockchain, etc. for creating modern telemedicine apps, solutions, and tools.

2. On-Demand Pharmacy

Consumers and healthcare businesses both leveraged the power of digital and resorted to mobile phones for specific apps, online pharmacy, and on-demand medicine delivery solutions. As per market research conducted by Zion Market research, the e-pharmacy market is estimated to grow to USD 107.53 B by the end of 2025. Pharmacy businesses have started adopting selected models as per requirement, viz., they can go for medicine delivery app for single-store, or can go for an aggregator medicine delivery app development type, or direct-to-customer type of customized app model. COVID-19 has opened up these avenues abundantly from business perspectives as well as consumers’ convenience and demand.

3. Health Insurance App Surge

The demand for health insurance rose in COVID times. People realized the importance of their health safety leading to a surge in demand for the coverup, Covid cover in particular. Health Insurers have come up with specialized mobile apps that are helping customers across b2b and b2c segments in the healthcare industry. As per a recent  Statista Report, there were 218 billion mobile apps download by consumers,  to their connected devices, in 2020 alone. So, mobile applications are benefitting consumers and insurance companies alike. Digital capabilities-led Insurance Mobile Apps allow three major types of functionalities-

• Functionality for healthcare providers – Allows direct access to patients’ histories, valuable doctor-patient communication.

• Functionality for Patients – Allows searchingfor doctors, accessing related documents as well as receiving timely reminders.

• Functionality for choosing as well as purchasing insurance policies– Allows users in choosing and purchasing perfect health insurance plans, even renew the existing policies. This functionality also includes in-app payments, communicating with insurance agents, and so on.

4. Shift to Healthy Lifestyle

People have realized the importance of Eating Healthy, Living Healthy. The COVID-19 has alarmed them that how a weak immune system can cost precious lives.   Immunity boosting has become their priority over the past two years and resorting to their 24*7 companion, mobile devices, for varied nutrition apps. Nutrition mobile apps help to track nutrition intakes and calorie counts, having an enormous database containing food insights, recipe importer, barcode scanner, restaurant logger, and a lot more.  These powerhouse apps help to monitor nutrition levels, weight balance, warning alerts for bad food habits, planning meals with nutrition facts, extracting insights based on personal data, etc. AI-ML-powered virtual apps help to provide personalized recommendations and have a multilingual platform.

5. Virtual Fitness

Fitness and wellness form the core of the healthcare industry. Fitness facilities shut down quickly after the pandemic struck at the onset of 2020. Amidst lockdowns, gyms and fitness centers had to close down for an unlimited period. Non-essential workers stayed at home which limited their fitness options and this triggered the rise of virtual fitness apps. Technology in the form of IoT-Sensor powered mobile apps, youtube videos are enabling people to get a long-term workout plan at home itself. Whether it is for losing weight or building strength,easy-to-follow video workout guides, a fitness app helps to track, map all runs and allows to log in to more than 500 activities (customized apps) like gym workouts, cycling, yoga, walking, cross-training, etc. The app provides a gear tracker that tracks mileage and can connect to varied devices to import, analyze personal data for regular guidance.

6. Realization on Logistics Challenge

One of the biggest challenges that surfaced during the pandemic was the lack of adequate logistics and inventory management systems. During the entire  COVID-19 pandemic, shortages in medical oxygen greatly affected hospitals in  India, Brazil, Nigeria, Peru, Italy, and even the US. Lack of timely supply of oxygen cylinders, oxygen concentrators, oxygen generators, etc. proved fatal to many COVID patients who succumbed because oxygen was not available on time. In the wake of this challenge, many companies chipped in and started resorting to mobile and web app-based digital tracking systems. This trend has picked momentum and there’s been a big boost in the web & mobile app development dealing with logistics and inventory solutions.

Health is Wealth via Technology

From 2020 onward, the world is seeing a major surge in healthcare technologies. Artificial Intelligence – IoT-powered telemedicine apps, virtual healthcare, remote patient-monitoring, self-care, etc. have picked momentum. People are opting for mobile apps to seek healthcare solutions at competitive costs. Virtual healthcare can deal with all health problems, with this realization the healthcare industry has started evolving at an unabated pace leveraging digital technologies across the ecosystem.

How healthcare has evolved for you? As healthcare applications and integrated technology get more accessible, it’s time businesses start investing in real transformation. Speak to our experts today!

The post Top Transformations in Healthcare during Pandemic appeared first on AI, ML and IoT application development company | Fusion Informatics.

The retail sector features as one of the most dynamic and thriving sectors in the Indian economy. Digital technology is empowering retail to grow in stages which accounts for more than 10% of India’s GDP. Digital Transformation is changing the landscape of the retail industry in India like never before. The industry is adopting digital tools and technologies to stay abreast of the consumers’ demand irrespective of the b2b or b2c business segment. Integrating physical with digital experiences, e-commerce, on-demand grocery apps like Bigbasket or Grofers, online retailing, etc. are redefining retail spaces to a large extent. All about digital transformation adoption in modern retail which is moving faster beyond the usual hubs. Digital adoption is indeed playing a big role in shaping the retail sector moving to tier-II and tier-III cities, as well. As per IBEF (India Brand Equity Foundation)report, the Indian e-commerce industry is going to become the world’s second-biggest e-commerce market by the year 2034 and will overtake the US e-commerce industry.

Digital Transformation Adoption

Digital Transformation in retail means using digital technology, implementing a new business model conducive to business type (b2b or b2c) at the best affordable cost, that leads to the improvement of existing processes,  and increasing revenue streams for the same. At the process level, digital transformation adoption in retail means doing a job with zero effort and zero-skill as well as zero-learning curve! Because it entails the adoption of the right digital tools and technologies to kickstart the process in all departments. Thus, digital transformation means transformation in all the departments.

The three major elements of the retail operating and business model where  the digital transformation impacts are:

• Strategy – It means segmentation, positioning of products, operation formats, business models that talk about pricing, location, assortment, size, etc.
• Front end elements– customer-related ones like store layout, promotion, merchandising, customer-centric loyalty programs, marketing, communications, POS solutions, pricing, and so on.
• Back end elements – These elements include supply chain, digital procurement, logistics & warehousing, vendor management, mix & planning of assortments, finance automation, people.

Let’s gather significant detail on the adoption scenario of digital transformation in retail in India.

1. Shift from Legacy Model to Digital App

The legacy model of Indian retail would comprise the traditional mode of functioning in all the departments. People have to travel a long distance, spending tremendous time standing in an unending queue for placing orders, payments, etc. For instance, the entire supply chain (manufacturers, wholesalers, dealers, distributors, retailers) faces myriad challenges at respective levels. However, by adopting digital transformation, Indian retail is slowly bringing them into the digital mode. Digital apps in all the streams, customized digital solutions catering to departments, e-commerce, online order platforms, Cloud system, etc. are defining the retail sector in the country. The retail sector is opting for varied web and mobile-based applications, solutions, and varied digital integration within departments thereby facilitating the seamless experience for the stakeholders as a whole.

2. Digital Marketing

Digital marketing is an integrated online marketing model that retail companies, irrespective of types,b2b and b2c, all leveraging their immense capabilities to achieve business goals. Digital Transformation adoption particularly deploys these technologies to tap niche markets as well as segmenting as per demographic details. Thus, digital marketing is an online, digital tool, which aims at getting leads, engaging customers, building brand –loyalty. The adoption varies from channels like website development, application(App)development, Google Adwords, social media marketing, mobile marketing, or SMS marketing, etc.

For instance, the Customer Analytics tool. Take the example of a leading Indian fashion retailer, Shopper’s Stop. The retail company started adopting digital transformation in 2017 delivering a seamless experience to both offline and online customers. Just that it collaborated with some digital marketing company who guided the step-by-step process of digital transformation adopting mandatory tools like AI-powered Predictive Analytics. This led to implementing the CMX capabilities (Connected Mobile Experience), throughout its 80 retail stores in India. Thus, this sort of tool gives a single view of the dashboard that displays the insights of connected customers in-store, their buying behavior, in-store tracking, online-tracking (if buying online), and interprets customers’ data providing valuable insights and predicting future trends. Thus, Customer Analytics is redefining the retail space across the country.

3. Digital Operations

Optimization of  Supply-Chain Management is another facet of digital transformation. Retail stores in India are adopting digital transformation where the digital capabilities of the IoT technology have unparalleled usage. The IoT technology along with  GPS sensors, RFI,  can help a retailer retrieve accurate data, for example, specific data about temperatures under which certain items are being stored, transit timings, etc. These data ultimately help in improving transportation quality, and one can act on time to check if certain products need temperature variations, adjusting high or low, as per requirement at that moment thus averting any sort of losses. Moreover, accuracy is very important when managing inventory in a retail store. Proper inventory management can only increase efficiency in a retail company. Digital Transformation is facilitating the adoption of Blockchain in inventory in the retail space in India. The digital technology, Blockchain, can automate the whole process of inventory management, accurately automating the process of product shortage and product surplus based on real-time consumer demand. This automation saves huge investment in managing costs smartly.

4. Payments

Digital Payment services are playing a significant role in the Indian retail sector. Cash payment is not any more popular now for inherent challenges involved. Retail digital transformation adoption in India relies a lot on the online payment system. People in India are doing shopping, businesses across the retail segment over their mobile phones, most of the time. Retailer- e-commerce sites, or retail online stores, are allowing online payment services to end-users and customers thereby increasing the shopping, momentum, conversion rates on sites. GooglePay, PayPal, Apple digital wallet, PhonePe, are a few examples of the popular digital wallets and payment modes in retail in India.

5. Customer Care

Customers are the core of retail business anywhere. In India, addressing day-to-day problems faced by customers in varied areas, for products, for services, etc., the legacy model is existing in the form of call centers. But, by adopting digital transformation in their customer care department, retail in India can redress many challenges using digital methodologies. Applying digital transformations to the customer experience, retail companies can address, can empathize, as well as can minutely understand almost all the varied touchpoints of their customers. Digital transformation allows data interpretation and can show the way improvements can be done. Retail companies have to emphasize customers’ data and find out their preferences, patterns, behavior, etc. This also facilitates forming a model specific to provide a holistic customer experience. All sorts of customer data provide valuable insights on them, leading to determine areas to invest yielding significant ROI.

6. Business Models

The retail sector in India is widely adopting this facet of digital transformation which is rather no-capital-intensive physical store. Many retailers just do not need to have their websites, because they can sell their products on third-party sites like Amazon, Shopify, Woocommerce, etc. Thus, these retailers can leverage their host site’s logistics, pools of shoppers, inventory, payment services as well as, the analytics about customer data. As per an estimate, in India, e-commerce is growing faster than brick-and-mortar retail outlets, paving the way for digital retail to boost its share of trade from the current 5 % to 15 % approx. by the year 2025.

Challenges

In the retail sector in India, a common challenge is an extensive lack of getting an accurate customer insight for the business. Most often, this data is entangled, trapped inside the organizational silos of marketing, sales, finance, customer service departments. This prevents from providing holistic views and insights of the customers. Moreover, retail businesses see customer experience merely for customer acquisition and customer service. They miss out on the broader parameters that can catapult businesses to a  higher level. Another significant challenge that is restraining their growth is the reluctance to invest. For any business returns, substantial capital investment is needed from time to time. And it is a worldwide fact how digital transformation is catapulting retail businesses across the globe.

Conclusion

The Indian retail industry has awakened now and widely adopting digital transformation, however, in phases. Even the neighborhood Kirana stores, small retail stores amounting to small businesses across the country, are slowly but steadily empowering employees, customers, adapting to the current change. No doubt, digital transformation is truly about getting the best ROI and promising a bright future growth in the sector.

To understand more about the retail industry challenges and trends that are shaping digital transformation, visit our exclusive site pages.

The post Retail Digital Transformation Adoption in India appeared first on AI, ML and IoT application development company | Fusion Informatics.

Digital Transformation is the transformation of industries using ace digital technologies like AI, ML, Blockchain, Robotics, IoT, Clouds, etc., and integrating them with their respective structures, as per specific company requirements. New platforms and applications are integrated to fetch that ultimate seamless experience for the end-users and customers. The fintech industry does not take much time for a complete digital transformation/makeover as compared to other industries like retail, healthcare, or education. The reason is that financial services are mostly dealing with structured, quantitative data that facilitate easier digitizing and automating of varied processes involved. Fintech brings innovation, transformation in all sorts of financial services. The massive surge in demand for mobile apps, digital payment systems such as cashless, e-wallet, mobile-banking, chatbots handling customer financial inquiries, all have led to the rapid shift in consumers’ demand and preferences. Whereas if we compare the quantum of digital drive in other aforementioned industries, it is not as fast as that in the fintech. Rather, fintech has some inevitable roles within the integrated functioning of other industries like retail , education or healthcare.

State of Digital Transformation for Key Industries

1. Retail

The Retail global digital transformation market stood at 143.55 billion USD in the year 2020. It is expected to touch 388.51 billion USD by the year 2026 (source – Mordor Intelligence report).

In the retail industry, digital transformation covers three major aspects –

• Customer- Experience
• Supply-Chain
• Enterprise-Agility

As per PWC’s study, just one bad experience would cause  32% of customers to stop interacting with a brand. According to  Business Insider, due to a shift in consumer behavior and several other challenges, the retail industry saw  70% failure of digital transformation projects in the year 2017. On the other hand, Gartner says that  77% of retailers would like to consider adopting AI while 87% indicated that Robotics for warehouses will be the top use case by 2021.

2. Education

COVID-19 has changed the face of the education industry. The learning and development have taken a complete digital makeover. However, the digital transformation process has not been a smoother and easy one for the industry. Widespread virtual mode of learning, teaching with no access to real-life libraries, have created a frustration-led environment for teachers, educators, students, staff, and the entire industry. In fact, students are unwilling to pay the whole fees, and higher education seeing partial refunding of fees, too. This is just an example of several challenges in the sector where digital transformation is facing tough to take-off.

As per GPE report–

• Due to the pandemic effect, 126 million children have been cut-off from their schools in lower-income countries.
• GPE supporting partner countries by US$500million on the sector as a response to the pandemic crisis. Digital means remain the viable options, too!

3. Healthcare

This year, a significant revelation in healthcare has been about consumers’ priorities –better and convenient access to all the healthcare services, and, more price transparency.

One notable impact of technology in the healthcare sector is the scope of digital transformation as follows-

• Telemedicine
• AI-enabled medical devices
• Blockchain-Electronic health records
• Web and mobile apps and solutions
• Streamlining physicians’ jobs
• Improvement of patients’ outcomes
• Optimization of systems
• Reduced cost operations
• Low human-error

Medtech firms having specific consumer-focused products & services are likely to create a foothold post-pandemic. Moreover, as per the recent 9^th annual Industry Pulse survey, the valuable insights from 185 healthcare leaders for  2021, 32.2% said that retail companies, the big tech will greatly impact the current business models deployed by the healthcare industry.AI and ML were the preferred choices of the healthcare industry respondents while  RPA was the highest chorus among them for ‘NO’. Once the pandemic effect abates, it’s expected that there’d be a greater level of demand for testing equipment as well as online pharmacy use. Contrarily, the demand for elective procedures that are hospital-based and shifting to outpatient settings, will see a permanent lower side. As per Digital Authority Partners insights, the US healthcare market is going to see $5.7 trillion in national health spending by the year 2026.

How Fintech is Shaping Other Industries

The Healthcare industry is though undergoing a slow pace of digital transformation, the role of fintech within its business models is unparalleled. Fintech serves this industry by revitalizing and modernizing healthcare networks as it brings some improved, digitally oriented, financial service-models into the very sector! Several fintech solutions such as digital payments, do simplify varied payment processes for patients, as well as processing volumes of healthcare-related data on a much faster scale and speed. The retail industry is equally impacted by fintech, viz. role of digital capabilities like websites and mobile applications are mostly catering to the payment stream because customers are preferring digital payment modes and carry digital wallets in their mobiles 24*7. So, we can see the ubiquity of fintech in almost every industry as finance as a service plays a major integrated role.

Why Fintech is leading in Digital Transformation?

• High Investment from all businesses
• Fastest digital adoption
• Diversified projects at pilot and advanced level in Innovation

As per a recent IBM study, engaging unique customers with smarter experiences anytime and anywhere is the need of the hour. A massive 84% of customers consider the overall experience provided by a company is as valuable as its products and services. Hence, to meet this kind of rising customer-expectations, a company needs to digitally transform all the lines of customer services for delivering a better-unified experience. Not just customer-centric approaches but companies need to intensify approaches towards smooth relations between business partners and employees.

Conclusion

Fintech is impacting industries such as retail, education, and healthcare where consumers want convenient transaction solutions in every financial interaction within the structured systems. As per the Global Fintech Adoption Index, before the pandemic, fintech was doubling every two years. The industry grew from 16 percent in 2015 to a striking 64 percent in 2019. The reason behind this growth is not just the fintech’s agility but it has become an essential survival tool for businesses across the industries , especially from 2020 onward. Acting as a core enabler for the fast migration to digital payment, it has become a mandatory part of everyone’s life – consumers and businesses, alike. While 2020 was merely about survival, 2021 and beyond will see convenience, structured inclusion as well as sustainability factors leading to the adoption of financial technologies.

Whether you belong to FinTech or any other Industry, digital transformation is here to stay and evolve into new dimensions. Connect us to explore the new possibilities for your Industry.

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