SmartBear launches open source editor

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SmartBear Software is launching the new Swagger open source editor and UI, the company said. The new Swagger Editor and UI have been optimized for speed and reliability, introduce extensibility and customization capabilities, and now offer a unified design and documentation experience for APIs written in the OpenAPI Specification.

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Vidyard

Vidyard is the video platform that helps businesses transform communications and drive more revenue through the strategic use of online video. Going beyond video hosting and management, we help businesses connect with more viewers through interactive and personalized video experiences, learn powerful insights on their viewing audience, turn insights into action with enterprise integrations, and prove the impact of their video programs.

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How Data Is Transforming the Fight Against Pandemics

Article | March 23, 2020

The more time I spend working with data, and watching how our customers work with data, the more convinced I am of two things: 1) the power to do extraordinary things is embedded within data and 2) all of us working or dealing with data have a role to play in using our knowhow and technology to apply data to benefit humanity and tackle some of the biggest challenges of our lifetime – the environment, equality, education, health and safety.

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How Customer Experience and Digital Transformation are Connected

Article | March 23, 2020

The major demands of the current market are the personalized customer experiences (CX) and modernized systems. While the market leaders have already implemented intelligent strategies to attract more and more customers, many other companies are focusing on building a digital strategy to satisfy the needs of their potential customers. Technology has changed almost every bit of human life. Whether it's finance, medicine, education, retail, marketing, or any other industry, technology is inseparable. As a result, businesses are adopting newer and more modern platforms to match the current market trends, and this digital transformation is rewarding them with improved revenue. But have you ever wondered who is more responsible for this transformation? Are they the companies or customers? Well, the answer is — customers. More precisely, the digital customers. The current market is flourishing in almost every aspect, thanks to digital experience technology. Customers want to get relevant information in an easy-to-consume format on the device of their choice. This fundamental need drives the customer experience transformation, and eventually, the digital transformation. The advanced customer experience technology allows people to connect with the company anytime they want. And, embracing digitization is the only way for organizations to deliver the best customer experience. Turns out, the ‘customer first’ mindset is at the heart of the digital customer experience strategy of most companies. As per the recent IDC report, around two-thirds of the CEOs of the global 2000 organizations believe in building a robust digital customer experience and leave behind the conventional offline business strategies by the end of the year. Furthermore, 34% of companies target a complete adoption of digital transformation within a year or less. The rise of digital transformation is pretty clear. Digital Transformation and Customer Experience Go Hand in Hand Even though these statistics are jaw-dropping, the market is far from a total digital adoption. For example, Progress.com’s State of Digital Business Report revealed that around 45% of businesses are yet to kick off their digital transformation journey. In comparison, 59% of companies believe that they have already lost the race as they delayed the adoption. This is the era of mobile applications, IoT devices, AI-powered tools, and high-speed internet. These things have significantly improved customer satisfaction and their overall product/service experience. As a result, companies are looking forward to transforming digitally to understand their customers well and meet their expectations through a multi-channel customer experience. As a result, almost all businesses hope to strengthen their online presence and deliver the best customer experience. Is Customer Experience Transformation Possible Without Digitization? Digital transformation, generally, is an adoption of technology in all different business areas. It leads to a few fundamental alterations in business operations and the value they provide to their consumers. In layman’s terms, digital transformation is about integrating modern techniques to interact with customers and continue delivering excellent customer experience ALL THE TIME. As mentioned earlier, this digital transformation has a lot to do with customer satisfaction and experience. According to a PWC study, more than 50% of companies point at customer experience transformation as the most influential factor for digital transformation. In return, digitally transformed companies get more engaged customers and more sales. The Rosetta consulting study reports, Such highly engaged customers are six times more likely to try a new service or product. Four times more likely to recommend your brand to their family and friends. Two times more likely to buy your product even if your competitor is offering a better product at a relatively lower price. Moreover, they have three times the annual value, compared to the traditional, average customers. But, of course, this goes without saying that digitally transformed companies get more profits than their traditional peers. To summarize, customer experience transformation is challenging with traditional offline strategies. However, digitization is the new market reality, and businesses must adapt it to meet the expectations of the new kind of digital customers. Steps for Improving Customer Experience Through Digital Transformation Digital customers in the current market expect a lot from a product or service. Therefore, they won’t think twice before moving to another company if your product/service doesn’t meet their needs. Therefore, companies must evolve and reconsider their efforts to make new customers and retain the existing ones. The following are the basic steps you need to keep in mind for achieving a satisfactory customer experience transformation through digital transformation: Consistently deliver a personalized experience to your customer. Gone are the days of the 'One size fits all’ theory. Focus more on agile product experimentation. Focus more on multichannel, seamless customer experience. Build more customer data for more subscriptions. Train the leadership for a complete focus on digital. Ensure customers can interact with your service on the device of their choice. Keep the customer in mind. ALWAYS! Avoid robotic approaches. Give it a human touch! Bottom Line Honestly, it's hard for your business to thrive without digital transformation. Whether it’s about the customer experience, operations, or business models, digitization is the most effective way to satisfy market needs in 2021 and beyond. Customers want everything ‘right now.’ Embracing technology is the key to fulfill it! Frequently Asked Questions What is customer experience transformation? Customer experience transformation (also known as CX transformation) improves customer experience through the adoption of newer technology, business structures, operations, and even culture. The ultimate aim of CX transformation is to deliver a remarkable customer experience at scale. What are the four essential areas of digital transformation? Digital transformation always comes down to the following four major areas: Organizational and cultural transformation Transformation in business processes Transformation in business domains Transformation in business models What are the top three benefits of excellent customer experience? Great customer experience can take your business a long way. Here are its top three benefits: Offers cross-sell & upsell opportunities to improve revenue Boosts customer loyalty Improves brand identity { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is customer experience transformation?", "acceptedAnswer": { "@type": "Answer", "text": "Customer experience transformation (also known as CX transformation) improves customer experience through the adoption of newer technology, business structures, operations, and even culture. The ultimate aim of CX transformation is to deliver a remarkable customer experience at scale." } },{ "@type": "Question", "name": "What are the four essential areas of digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "Digital transformation always comes down to the following four major areas: Organizational and cultural transformation Transformation in business processes Transformation in business domains Transformation in business models" } },{ "@type": "Question", "name": "What are the top three benefits of excellent customer experience?", "acceptedAnswer": { "@type": "Answer", "text": "Great customer experience can take your business a long way. Here are its top three benefits: Offers cross-sell & upsell opportunities to improve revenue Boosts customer loyalty Improves brand identity" } }] }

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Basics of Artificial Intelligence and Machine Learning

Article | March 23, 2020

Lately, we all often come across two very hot buzzwords — Artificial Intelligence (AI) and Machine Learning (ML). Perhaps the impact of artificial intelligence and machine learning on today’s business world is more than our daily lives. According to a Bloomberg report, around $300 million were invested in 2014 to promote AI-powered startups. It was 300% more than the previous year’s investment in venture capital. It’s hard to deny the fact that artificial intelligence and machine learning are all around us. Whether it is about protecting confidential information at work or just playing your favourite games on PS5, AI and ML are there. Researchers, scientists, computer engineers, and analysts are working hard together to pass on human-like intelligence in machines so that they can think and act according to real-life scenarios. Businesses have changed their approach to AI keeping enterprise adoption in mind rather than treating it as just a research topic. Tech giants such as Google, Facebook, Microsoft have already invested billions in Artificial Intelligence and Machine Learning and already have started to reshape the customer experience. But the AI and ML incorporation we see today is just the tip of an iceberg. In the coming years, you will see them take over products and services one after another. What Is Artificial Intelligence and Machine Learning? It is nowadays common to see several companies marketing themselves as AI-powered startups even though their operations don’t really revolve around AI. To understand this type of gimmicky marketing, it is essential to first understand what Artificial Intelligence and Machine Learning are. Let’s be clear in the beginning about one fact — AI and ML are not the same things. If you think they are, kill this perception before it makes things very confusing. Both these terms crop up especially when the discussion is about the use of Artificial Intelligence in marketing, the use of Machine Learning in marketing, analytics, Big Data, and the modern-day tech that is transforming the world. To ease down the learning, here’s the best answer: Artificial Intelligence is a science used to develop systems that can mimic decision-making and behaviour like humans. In simple words, the main application of Artificial Intelligence is to make intelligent machines. Machine Learning is the subset of artificial intelligence that uses data to perform tasks. It involves designing and applying the data models or algorithms that can learn from their past experiences. There’s a subset of Machine Learning, too — Deep Learning. It counts on multilayered neural networks to perform tasks. Early Days of Artificial Intelligence The early mentions of AI trace back to Greek mythologies that have stories of a mechanical man that could mimic our own behaviour. Plus, the early computers were termed as “logical machines'' in Europe. These machines could solve arithmetic operations and even store memory. Scientists, fundamentally, were inspired by them to create mechanical brains. Over time, technology got more and more modern. And, our understanding of how the human mind works improved. Both these factors lead to the current AI revolution. Today, the use of AI is more focused on mimicking the decision-making process of humans rather than performing complex calculations. The prime motive of this is to allow machines to think and act more like humans. AI-powered machines that are designed to act intelligently come into two basic groups — General AI and Applied AI. General AIs are relatively less common and can theoretically handle any task. The most exciting improvements in the field of AI are happening in this specific area. In fact, it’s generalized AI that led to the rise of Machine Learning. On the other hand, applied AIs are designed to perform relatively smaller tasks like smartly trading shares and stocks, or guiding an autonomous vehicle to its destination, etc. The Rise of Machine Learning As mentioned earlier, Machine Learning is a subset of AI and can also be treated as the current state-of-the-art. It came into reality primarily because of the two major breakthroughs — the rise of the internet and human realization. In 1959, an American pioneer in the field of computer gaming and AI, Arthur Samual, realized that it can be possible to teach machines how to learn to perform tasks themselves rather than us telling them how to. As long as the emergence of the internet is concerned, that helped scientists with tons of digital information that could be analysed for the betterment of AI and eventually, ML. After these innovations, it was more efficient for scientists and engineers to program machines in a way that they learn to think like humans and then connect them to the internet so that they have all the needed information. Vertical AI And Horizontal AI No matter what kind of AI research it is, knowledge engineering is its essential part. Machines need plenty of information to think and act like humans. Therefore, AI needs access to objects, categories, properties, and relations between them to apply knowledge engineering. AI is responsible for generating analytical reasoning power, problem-solving abilities, and common sense in machines. And, it is not an easy task! The way AI serves us can be divided into two parts — Vertical AI and Horizontal AI. Vertical AI is used to perform single jobs such as automating repetitive tasks, scheduling meetings, etc. Vertical AI bots are so accurate in performing a single job that people often mistake them for human beings. Horizontal AI, on the other hand, can handle more than one task at the same time. The best examples of horizontal AI are Alexa, Siri, and Cortana. Different Types of Machine Learning ML can be best used to fix complex tasks such as enabling self-driving cars, face recognition, credit card fraud detection, etc. It uses huge, complex algorithms that keep on iterating frequently over big data sets. The following are the 3 major Machine Learning areas: ● Reinforcement Learning ● Unsupervised Learning ● Supervised Learning Reinforcement Learning In reinforcement machine learning, algorithms allow machines and software agents to automate ideal behaviour within a particular context to improve the performance of an overall system. It is characterised by learning problems rather than learning methods. If any method can solve a problem, it can be a reinforcement learning method. This Machine Learning technique assumes that the dynamic environment is connected to a software agent such as a computer program, bot, or robot. Ultimately, it chooses a specific action in order to rapidly deliver the most efficient result. Unsupervised Learning Due to the involvement of unclustered data, unsupervised machine learning is more complex than others. With it, the machine has to learn independently without any supervision. No fixed or correct solution is provided for any problem in this technique. The algorithm has to identify the data patterns and find the solution. The recommendation engines we see on several eCommerce websites and Facebook friend requests suggestions are the best examples of this sort of Machine Learning. Supervised Learning Training datasets are used in supervised learning. The algorithms are created in such a way that they can analyse the data patterns and develop an inferred function. The produced correct solution is then used to map new examples. The best example of supervised machine learning is credit card fraud detection. Final Words Artificial Intelligence and Machine Learning never fall short to surprise us with their exciting innovations. Their impact has reached all the industries including eCommerce, customer service, finance, education, healthcare, pharma, infrastructure security, and whatnot. Needless to say, all these industries are very keen on reaping all the benefits of Artificial Intelligence and Machine Learning. The human-like AI was an inevitable thing as most technologists thought. Today, we are indeed closer to this goal than ever. This exciting journey in the past couple of years is the result of how we predict AL and ML works. FAQs Why is AI Marketing important? With AI marketing, businesses and marketers can analyse and consolidate a large amount of data from emails, social media, and other platforms faster. The achieved insights can be used to improve campaign performance and eventually boost the returns on investment in a relatively lesser time. AI marketing is the best and the most efficient way to eliminate the risks of human errors while optimizing and streamlining the campaigns more effectively. The following benefits of AI marketing justify the attention it has received all over the world. ● A better understanding of your consumers ● Optimization of digital advertising campaigns ● Offer comprehensive customer profiles ● Allow real-time interactions with consumers ● Refined content delivery ● Reduced marketing costs ● Improved ROI Is artificial intelligence and machine learning the same? The straight answer to this question is NO. They are not the same thing. AI allows machines to learn human behaviour while ML is the subset of AI that teaches machines to learn on their own with the help of past data. Does AI need machine learning? Fundamentally, ML is not required for AI as AI systems do not need to be pre-programmed. Instead of such software agents, they get help from algorithms that can use their own intelligence to solve queries. These can be Machine Learning algorithms such as Deep Learning neural networks and Reinforcement Learning algorithms. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Why is AI Marketing important?", "acceptedAnswer": { "@type": "Answer", "text": "With AI marketing , businesses and marketers can analyse and consolidate a large amount of data from emails, social media, and other platforms faster. The achieved insights can be used to improve campaign performance and eventually boost the returns on investment in a relatively lesser time. AI marketing is the best and the most efficient way to eliminate the risks of human errors while optimizing and streamlining the campaigns more effectively. The following benefits of AI marketing justify the attention it has received all over the world. A better understanding of your consumers Optimization of digital advertising campaigns Offer comprehensive customer profiles Allow real-time interactions with consumers Refined content delivery Reduced marketing costs Improved ROI" } },{ "@type": "Question", "name": "Is artificial intelligence and machine learning the same?", "acceptedAnswer": { "@type": "Answer", "text": "The straight answer to this question is NO. They are not the same thing. AI allows machines to learn human behaviour while ML is the subset of AI that teaches machines to learn on their own with the help of past data." } },{ "@type": "Question", "name": "Does AI need machine learning?", "acceptedAnswer": { "@type": "Answer", "text": "Fundamentally, ML is not required for AI as AI systems do not need to be pre-programmed. Instead of such software agents, they get help from algorithms that can use their own intelligence to solve queries. These can be Machine Learning algorithms such as Deep Learning neural networks and Reinforcement Learning algorithms." } }] }

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Digital Transformation in 2022: 10 Biggest Influencing Trends

Article | March 23, 2020

The recent COVID-19 pandemic came with thousands of changes in almost every field. Be it education, medicine, content marketing, digital marketing, and whatnot; its impact cannot be unseen. Fortunately, not all the effects of the pandemic are negative. While it has limited the resources for some industries, it made businesses analyze major flaws in the digital world. As a result, companies are experiencing the accelerated digital transformations. Today’s world depends heavily on digital and the role of IT in it is more critical than anything. The pandemic has led to several restrictions on the offline platforms resulting in consumers turning to online solutions. Therefore, businesses are under tremendous pressure to remain competitive and develop end-to-end customer experiences. They require a strong online presence to deliver the best customer experience. But how can they do it? Well, it’s simple — by adopting the biggest digital transformation trends and integrating them into their businesses. If you are wondering what these trends are, you will know them shortly. In this article, we shed light on the top 10 digital transformation trends that will fuel some incredible changes in the business landscapes worldwide. But before that, let’s understand why these ongoing and upcoming digital transformation trends are important. Why is Digital Transformation Important? The expectations of both businesses and consumers are rapidly evolving, thanks to modern-day technology. As a result, organizations are finding newer ways to accelerate digital transformation by strengthening their digital tools. This is essential for creating and improving their business models, services, products, and processes. Undoubtedly, the more the digital maturity of the company, the more financial success. According to a survey conducted by Deloitte Insights, the net revenue of a company with a great level of digital maturity is three times higher than the companies with poor digital maturity. This explains why digital transformation is necessary. Furthermore, efficient digital transformation supports quicker deliveries of advanced services and processes. It aids businesses to remodel the current circumstances and offer resilience that is extremely important for staying competitive. Take a look at the following benefits efficient digital transformation to analyze what it can bring to your organization: Improved employee culture and engagement Improved supply chain management Improved competitive advantage Improved customer benefits Better flexibility More savings Digitally driven startups generate around 54% of the total digital revenue. On the other hand, traditional organizations are leveraging their business models through the current digital transformation trends to bridge this gap. Top 10 Digital Transformation Trends of 2022 and Beyond Note that not all digital transformation roadmaps will take you ahead. Only specific digital transformation trends have the power to achieve the above-mentioned benefits. Following digital transformation trends blindly may cause problems for your organizations and eventually fall short of your targets. Here’s the list of the biggest digital transformation trends that have the power to reshape your business platforms and take them to newer heights. Data Platforms will Witness Revolution Nowadays, businesses are more customer-centric than ever and data is the king. Companies need more and more data to reach their audience. This is impossible without a state-of-the-art digital infrastructure, especially Customer Data Platforms (also known as CDPs). The primary objective of the customer data platform is to gather data from all the possible sources and effectively manage it. It also organizes and tags data accordingly to make it usable for various purposes. However, there’s a catch! Even though there’s plenty of data available, most businesses fail to utilize the available data resources properly, and ultimately reaping all the benefits. Effective data analytics can avoid this problem and lead companies to desired efficiency and growth. Considering all these factors, customer data platforms will play a significant role in transforming digital platforms in the coming years. Automation will Enhance Digital Transformation Pandemic has already changed the way companies conduct their business. Most of them rely on automation to flourish in the current market as it can speed up digital transformation and eventually the growth. Using automation in Enterprise Resource Planning (ERP) and business processes can be a game-changer in enhancing efficiency and net revenue. Being said, it’s becoming the heart of current and future digital transformation trends. Technologies like robotics, artificial intelligence, and machine learning are the key factors businesses should consider to integrate automation and achieve better agility and growth. 5G will Go Mainstream This is the era of work from home and remote places. As a result, companies are coming up with effective ways to manage business operations from remote settings. However, this can be a tedious task without the availability of incredible internet connectivity and bandwidth. So, what can satisfy this need? The answer is 5G. Thankfully, it’s already been a hot buzz in the market for the last couple of years and gaining more prestige every day. In the years ahead, it will be a normal thing in the business world because of its ability to satisfy connectivity and internet speed demands. Companies will Turn to Multiple Cloud Systems Significant growth of multi-cloud platforms is inevitable in the coming years. Multi-cloud systems will be one of the most significant digital transformation trends in the future because of their ability to distribute cloud applications, assets, and software across various cloud platforms. Moreover, they can eliminate the hurdles businesses face in data management and remove vendor lock-ins. Therefore, the use of private and public cloud infrastructures will thrive in 2022 and beyond. Cybersecurity Practices will Improve Remote working has its own set of pros and cons. While it allows business operations from your comfort zone, it also demands improved cybersecurity. Companies that want to adopt digital transformation trends will focus more on developing robust cybersecurity strategies. Note that your company’s security infrastructure and practices must go hand in hand with digital transformation. Event-Driven Architectures & Live Data Processing will Shift to the Next Level Previously, real-time data processing used to be a strenuous technical objective. As a result, organizations depended on untrustworthy data updates and manual solutions to implement complex data queries, fix latency issues, and poor data quality. Fortunately, modern-day architecture options have now made live data processing easy. Such options include systems that aid event-driver architectures, real-time data streaming, open-source data platforms, robotic process automation, etc. Work from Home will Continue Pandemic has restricted organizations to conduct operations from remote places. As a result, employees are working from home to comply with the government norms and offices are becoming increasingly redundant. Many surveys and studies conducted by various companies report that this kind of working style will be normal and the ‘work from home’ concept is here to stay for long. While organizations have understood its benefits, remote working is, on the other hand, propelling digital transformation. With more people engaging in work from home, newer innovations and technologies will make their way into the business. Analytics will Enhance for the Betterment of Resilient Supply Chains Supply chains were severely damaged due to the pandemic. However, the technology has helped organizations to recover their broken supply chain sections. Now, most of the companies are back to normal with resilient supply chains and improved local sources. The focus of the enterprises will be on the right use of analytics, artificial intelligence, and automation to continue forecasting demands and managing supply chains. This will be their best way to make sure the logistics are resilient. Quantum Computing will Make Big Difference Google has recently announced that it is working on developing a quantum computer in the next ten years. This machine will be completely error-free and commercial-grade. Even though it hasn't been significantly advertised yet, many businesses have already started researching it. In the coming years, quantum computing will have the lion’s share in improving the efficiency and revenue of various industries. Blockchain Technology will Flourish Blockchain has caught everyone’s eyes with the recent rise in technology adoption. Although it has been linked with cryptocurrency lately, many other industries (especially the finance sector) are now exploring and integrating this technology. Considering its capabilities, the expansion and exploration of blockchain across different industries will continue to flourish in the coming years. Furthermore, this technology will be a significant part of cybersecurity practices and, ultimately, the future digital transformation trends. Frequently Asked Questions What are the four main areas of digital transformation? Organizations should consider the following four major areas of digital transformation in they want to embark on it: Organizational and cultural transformation Transformation in business processes Transformation in business domains Transformation in business models What are the challenges in digital transformation? All the discussed digital transformation trends will lead to a remarkable shift in everyday company operations. However, they will come with the following common challenges: Lack of proper business models Poor leadership and strategies Incorrect data collection Poor security levels Lack of expertise Low budget { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the four main areas of digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "Organizations should consider the following four major areas of digital transformation in they want to embark on it: Organizational and cultural transformation Transformation in business processes Transformation in business domains Transformation in business models" } },{ "@type": "Question", "name": "What are the challenges in digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "All the discussed digital transformation trends will lead to a remarkable shift in everyday company operations. However, they will come with the following common challenges: Lack of proper business models Poor leadership and strategies Incorrect data collection Poor security levels Lack of expertise Low budget" } }] }

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Spotlight

Vidyard

Vidyard is the video platform that helps businesses transform communications and drive more revenue through the strategic use of online video. Going beyond video hosting and management, we help businesses connect with more viewers through interactive and personalized video experiences, learn powerful insights on their viewing audience, turn insights into action with enterprise integrations, and prove the impact of their video programs.

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