Insights
Linkedin X-twitter Youtube Instagram Facebook

Category: Uncategorized

Combating retail shrinkage: How technology can help

Posted on by siteowner

In the rapidly evolving retail landscape, technology stands at the forefront of innovation, driving transformative solutions that redefine the shopping experience. As a result, the global retail industry is embracing rapid digital transformation in response to constantly evolving consumer demands, improving customer interfaces, and fostering innovation.

Yet, it is equally important to pay attention to a significant challenge that the retail industry is struggling to mitigate:  the issue of shrinkage. The pandemic marked the beginning of retail shrinkage, and the industry has seen a downward graph since then. The average shrink rate grew to 1.6% in 2022, up from 1.4% in 2021, according to NRF’s 2023 National Retail Security Survey.

Technology offers interesting solutions to work around the pressing issue of shrinkage that is plaguing the retail industry.  Let us delve into the challenge in detail and examine how modern technologies are equipped to address this effectively.

What causes retail shrinkage?

While there are multiple types of shrinkage in retail, the top reasons include operational losses, theft, shoplifting, return frauds, and employee theft, with Organized Retail Crime (ORC) topping the list. ORCs are a type of theft organized by a large-scale group backed by a criminal enterprise and accounted for a shocking 78.1% shrinkage in 2022, according to NRF’s survey. ORCs are also one of the major causes of violence in the retail industry, proving to be a risk for employees and customers alike.

It is not only the small or mid-sized outlets, but, retail shrinkage has impacted many retail giants as well. For example, Target, one of the biggest retailers in the US, has recently announced closure of nine stores, citing shrinkage as the primary reason. Many other retailers, including Dollar Tree, Home Depot, and others, have raised their concerns, citing retail shrinkage as a top concern.

How retailers can address shrinkage with technology

Digital transformation is at the forefront of retail innovation. With cutting edge technologies such as Artificial Intelligence (AI), automation, cloud computing, and data analytics, retailers can create a more agile, efficient, and resilient supply chain that will support the demands of today’s consumers. Let’s take a closer look at how retailers can leverage these technologies:

Retail supply chain visibility is crucial for retailers to make informed, data-driven decisions. By utilizing sensors, Internet of Things (IoT) devices, and data analytics solutions, retailers can seamlessly achieve visibility. Such data-driven insights enable retailers to track inventory levels, shipments, and production processes, which ultimately helps in improving resource allocation and mitigating risks. Additionally, digital collaboration platforms help connect with suppliers, distributors, and other partners in real-time making communication, data sharing, and collaboration effortless. By embracing IoT solutions, retailers can minimize retail shrinkage while gaining more visibility, becoming more data-driven, and increasing agility. Some of the best examples include retail giants like Nike and Zara, which have implemented RFID (Radio Frequency Identification) technology to maintain their inventory accuracy. RFID tags enable real-time tracking and minimize overstock and stockout situations, which are one of the reasons for shrinkage, thereby reducing retail shrinkage.

Computer vision is playing a key role in addressing shrinkage with respect to fraud or threats. This technology uses AI to recognize the posture of a buyer, correlate it with the transaction, and identify instances of “sweathearting” – instances where the customer fails to scan products or manipulates the price, thus raising real time alerts. Computer vision applications in retail use ML-based algorithms to discover consumer behavior, identify patterns, and make informed decisions on these inputs. One of the most prominent use-cases of computer vision is to detect unusual crowd movements, security breaches, and unauthorized access to enhance store safety and protect both employees and customers. Best Buy, a multinational consumer electronics retailer, uses computer vision to detect fraudulent returns. The system can identify patterns and anomalies, such as returning a large number of high-value items without a receipt or returning items different from what was purchased. The AI-powered computer vision technology marks these returns and prevents them from being processed.

Leveraging technologies to address retail shrinkage requires expertise

Leveraging technology solutions to address retail shrinkage is easier said than done. One of the most prominent hurdles to this approach is revenue leakage in retail. Revenue leakage is the potential loss of revenue due to inefficiencies, errors, and fraudulent activities within operations. Furthermore, the costs associated with implementing new technologies often become a hurdle. The initial investments in software and digital infrastructure, along with maintenance and upgrades, can potentially become a burden for smaller retailers on budget.

When it comes to implementing new technologies, integration with the existing systems becomes a critical consideration. Ensuring the compatibility of old and new technologies requires time and expertise, which can further complicate the process.

The retail industry is also one of the top industries that collects vast amounts of data, thereby making data privacy and security a critical challenge. Retailers must go above and beyond to safeguard sensitive customer data and ensure compliance to maintain trust and integrity, as it can otherwise negatively impact the customer experience.

Lastly, any digital initiative requires extensive training programs and cultural shifts for successful outcomes. Managing such transitions with the support and engagement of employees can prove to be challenging.  Addressing such challenges requires a strategic approach, including meticulous planning, domain expertise, and tailored solutions that meet the business’ needs. Partnering with experts is crucial for retailers looking to leverage technology solutions to minimize retail shrinkage.

InfoVision is at the forefront of empowering retailers to navigate and overcome real-world challenges through innovative technology solutions. Our expertise spans across cutting-edge technologies such as computer vision, machine learning, and RFID, enabling us to offer a transformative approach to mitigating retail shrinkage. By integrating advanced computer vision, we elevate surveillance capabilities, while machine learning facilitates predictive analytics to foresee and mitigate potential threats. Furthermore, our use of RFID technology ensures precise inventory management, collectively forming a comprehensive strategy to fortify retailers against shrinkage. Through our retail and innovation services, we empower retailers to improve their innovation potential, flexibility, and scalability to leverage emerging technologies and sustain business growth. Our team of experts has helped many large retailers pave their way for closer brand-consumer relationships, strengthen trust, and minimize revenue leakage, thereby controlling retail shrinkage.

Embracing technology for retail revolution

Modern retailers are increasingly leveraging technology to solve their business challenges and gain a competitive advantage. In the era of instant shopping, eCommerce, and more, retailers must integrate technology solutions into their processes to gain more visibility and data-driven insights to make informed decisions and combat retail shrinkage. From inventory management to demand forecasting – the sky is the limit for technology.

To learn more about how you can leverage the power of technologies to reduce retail shrinkage, connect with us digital@infovision.com today and learn how we can help you stand differentiated and grow revenue.

Navigating the cyberthreat landscape: A blueprint for transformation

Posted on by siteowner

In recent years, the landscape of cyber threats has dramatically transformed. As smart devices proliferate, the internet’s expansion mimics a wildfire, perpetually serving as a fertile ground for emerging threats.  Ransomware is indeed a major concern for organizations, especially smaller and less-protected ones, accounting for 72.7% of the cyberattacks in 2023. Trends indicate cyberattacks focusing on data theft and ‘extortion-only’ campaigns. For instance, the MOVEit or GoAnywhere attacks from 2023 refrained from using encryption-based ransomware, instead demanding extortion payments to prevent the disclosure of stolen data. According to Emisoft’s research, US-based organizations made up 83.9% of known MOVEit corporate victims, with Germany, Canada, and the United Kingdom following. Another notable instance of a ransomware attack was the breach that Hatch Bank experienced as a result of the GoAnywhere vulnerability. This served as a stark reminder of the real-world repercussions, affecting customer data and raising widespread concern.

Such examples highlight an evolving trend in cyberattacks, emphasizing the need for increased vigilance and robust cybersecurity transformation across all domains. ISG (Information Services Group) cybersecurity insights acknowledge that a significant portion of the SMB market is closely connected to large corporations, directly or indirectly, as part of a broader supply chain. Consequently, it is essential for SMBs to invest resources in implementing appropriate security measures to mitigate vulnerabilities, address control gaps, and establish robust policies.

Despite the trends, there is a noticeable difference in the approach and organizations’ investment levels within the market, reflecting the varying degrees of digital transformation between large and small organizations. Consequently, the method of identifying cybersecurity challenges and the subsequent efforts to establish a secure environment largely align with the digital maturity of the enterprise, regardless of its size.

Top challenges in addressing the complexities of cybersecurity

Businesses face critical challenges in recognizing threats originating from unprotected devices and endpoints, vulnerabilities in applications and software, cloud misconfigurations, legacy infrastructure, and internal risks. The costs of data breaches are rising steadily due to missed opportunities, regulatory fines, and investigations. For instance, healthcare breaches averaged nearly $11 million in early 2023, up 8% from the previous year. Cybercriminals target weak links in supply chains, expecting software supply chain cybersecurity attacks to compromise identities and data.

Organizations need to move beyond perimeter security to ensure partners meet security standards. Open-source software and cloud adoption introduce new risks, with threat actors exploiting vulnerabilities. Furthermore, digital transformation investments increase vulnerabilities, with over $10.54 million IoT security risks reported in December 2022 alone. Complying with government regulations and sanctions is a challenge by itself, which requires maintaining compliance with often complex and evolving standards, potentially resulting in increased operational costs and limitations on business operations to avoid penalties. For example, the US Securities and Exchange Commission (SEC) introduced a cybersecurity strategy in 2023, which underscores the recognition among C-level executives of the importance of security risks and the need for enhanced transparency in addressing breaches and threats. 

The growth of technology also presents challenges for cybersecurity professionals and contributes to high employee attrition. Investments in digital technologies like IoT, AI, and ML have introduced increased, often unnoticed vulnerabilities in recent years. IoT adoption has expanded endpoints, leading to visibility challenges and susceptibility to attacks due to non-standard protocols and limited security integration. Furthermore, IoT invites concerns such as open source software, unpatched vulnerabilities, APIs, and weak password protection. This proliferation not only facilitates large-scale DDoS (Distributed Denial of Service) attacks but also heightens risks to critical infrastructure, with potentially severe financial and socio-economic consequences. Other trends, such as investments in remote work infrastructure, expand the enterprise perimeter and limit visibility across devices and applications, adding complexity to security efforts.

Many organizations also face challenges in aligning their CISO’s (Chief Information Security Officers) strategic security planning with overall organizational goals. ISG has identified specific hurdles, such as budget constraints, exacerbated by recession fears, that limit defenses against increasing cyber threats. Many CISOs struggle to allocate sufficient funds for effective security solutions and cybersecurity talent gap solutions. Lastly, operational challenges like work overload from alerts and technologies, complicated management by legacy systems, cloud misconfigurations, or the overarching need to adapt to emerging threats often overwhelm security teams.

How can organizations limit the attack surface?

Organizations that have robust cybersecurity measures prioritize business resilience in cybersecurity to withstand threats while maintaining trust, accountability, and customer experience. They invest in identifying and addressing vulnerabilities tailored to industry-specific risks. Key strategies include adopting the Zero Trust Security framework, SASE (Secure Access Service Edge), conducting rigorous risk assessments, and engaging in continuous monitoring, penetration testing, and red team simulations.

Suggested Read: The zero trust model: “trust no one” approach to cybersecurity

The “never trust, always verify” principle within the framework addresses various aspects such as perimeter-less enterprises, mutual authentication, explicit scrutiny, continuous monitoring, and network micro-segmentation. Implementing this framework necessitates a deep understanding of current security solutions and phased investments to consistently deploy relevant security measures tailored to the organization’s needs. Stricter vendor assessments and proactive prevention efforts complement robust response and recovery plans. Enterprises aim to conduct ongoing risk assessments and periodic audits across various domains, encompassing changes in business strategy, supply chain, M&A, and financial exposure. Additionally, resources are allocated to regularly conduct vulnerability scans and penetration tests to uncover insecure access points that may elude security analysts’ detection. CISOs collaborate with providers equipped with red teams to simulate advanced cyberattacks, gaining insights into vulnerabilities, weak access points, and potential pathways for adversaries to exploit sensitive data or disrupt networks. By addressing compliance, user experience, employee well-being, and customer assurance, innovative, user-oriented training supports employee awareness training in fostering a cybersecurity-centric culture.

Suggested Read: Red teaming: The future of cybersecurity preparedness

CISOs must prioritize solutions aligning cybersecurity transformation efforts with enterprise objectives, educating on cybersecurity risk management for resilience. Investments must be made to target specific industry threats, simplifying tools, and leveraging integrated suites for tailored risk management. Adopting automation and AI can greatly enhance threat detection, while managed services can address talent shortages. Prioritizing integration with existing tools or suites featuring extended detection and response capabilities will ensure smooth operations.

Partnering with domain experts like InfoVision enables businesses to seamlessly build robust cybersecurity strategies tailored to their business needs. InfoVision’s Enterprise Cybersecurity and Risk Services (ECRS) is a specialized cybersecurity practice that enables our customers to address their cybersecurity issues and enhance their cybersecurity transformation posture. The ECRS encompasses various capabilities, including GRC (Governance, Risk, and Compliance), SVS (Security Vulnerability Scanning), ISS (Integrated Security System), and IAM (Identity and Access Management) with Cross-Skilled Resources.

Cybersecurity transformations require rigorous efforts

As the cybersecurity transformation progresses, it’s imperative for businesses to remain adaptive and proactive in safeguarding digital assets and maintaining a resilient security posture. By staying ahead of emerging threats and continuously refining their security strategies, they can effectively mitigate risks and protect against potential breaches. With the ever-changing nature of cyber threats, a proactive stance is essential to ensuring the long-term security and stability of enterprise systems and data.

Looking to bolster your cybersecurity infrastructure? Make the most of our cybersecurity solutions and embrace digital security change with confidence.

The next chapter of digital era: Extended Reality for impactful business solutions

Posted on by siteowner

The digital age is all about experience. And with technologies like Extended Reality (XR), creating “immersive” experiences is slowly becoming the norm. While a completely digital world like Metaverse is still a few years away, XR has found many use cases across various domains over the past few years – from virtual collaboration to customer engagement and even product launches. For instance, the rise of passthrough Augmented Reality (AR) integrated with Virtual Reality (VR), as seen in products like Meta Quest 3, Meta Quest Pro, and Apple’s Vision Pro, showcased the significant evolution of the technology. Such applications hint towards a consistent progression towards widespread adoption in the future. In fact, during Q1 2023, the Meta headset emerged as one of the best-selling global XR headset brands, with projections indicating its significant market dominance. The Meta series, collectively, surpassed a remarkable milestone by shipping over 20 million units as of Q1 2023.

But what does this mean for businesses? How can they capitalize on this trend and gain a competitive edge in the coming year? In this blog, we dive deep into the convergence of extended reality and business solutions, the top use cases of XR in 2023, the most anticipated extended reality trends of 2024, and the key challenges that come with the adoption of the technology.

How extended reality is converging into business solutions

It’s no news that XR is slowly converging into various facets of business, offering innovative solutions that not only improve operational efficiency but also elevate the overall user experience for employees, customers, and stakeholders alike. Here are four characteristics that make this convergence notably evident:

  • Training and Development: Corporate training that employs augmented reality product visualization creates truly immersive learning experiences that yield significant results for on-the-job guidance and virtual environments for hands-on experience.
  • Remote Collaboration: Extended reality empowers employees to collaborate with other team members in a remote setting by immersing themselves in a virtual environment. One example is the software company “The Wild.” It established a VR-based digital workspace for building industry teams to explore and interact with 3D designs, replacing traditional two-dimensional slides. This shared VR space enables seamless collaboration, allowing employees, clients, and distributed teams to work together as if in the same room.
  • Design and Prototyping: The utilization of extended reality significantly accelerates the product design process, particularly when it comes to developing new products. Developers are increasingly leveraging VR to create a 3D preview of product designs, thereby enhancing their understanding of the product’s appearance and functionality before moving on to the production stage. Leading car manufacturers like BMW and Land Rover are some of the best examples of companies that embrace extended reality in their design and development phases.
  • Data visualization: Many businesses are using extended reality for financial services to visualize complex data sets in three-dimensional space. With XR, data analysts interact with data in a more intuitive and immersive manner, leading to better insights and decision-making.

The top 3 domains where extended reality made significant progress in 2023

Whether employing virtual, augmented, or mixed reality elements, extended reality holds considerable potential for elevating capabilities within these sectors and beyond.

Healthcare:

XR is advancing significantly in the healthcare sector by providing immersive experiences to both patients and physicians. For instance, Stanford Medicine uses extended reality software to integrate images from MRIs, CT scans, and angiograms, forming a three-dimensional model that allows physicians and patients to visualize and engage with the medical data. Beyond patient care, XR healthcare innovations were also pivotal in surgical training and medical education, thereby enhancing the learning experience for doctors and students.

Manufacturing:

VR solutions offer manufacturers a safer and more cost-effective means of exploring early concepts of design by eliminating the need for full-scale prototypes. XR in manufacturing processes plays a multifaceted role, enhancing training, design procedures, maintenance efficiency, collaboration, quality control, assembly line optimization, remote assistance, and safety training. One such example is Airbus, which leverages simulated digital environments for the design and testing of new aircraft features and models.

Retail:

An exemplary illustration of XR retail innovation is the furniture retailer IKEA, which has successfully incorporated XR technology to elevate its customers’ shopping experience. Customers can traverse over fifty furnished or unfurnished spaces via a virtual showroom, thereby acquiring an in-depth understanding of the furniture offerings. Another example is Amazon’s “View in your room” feature, which allows users to preview products in their home before purchasing, providing a convenient way to assess how products fit and look in their space.

Integrating XR offers consumers the convenience of virtually exploring an ideal house, test-driving a vehicle, or trying on clothing—all from the comfort of home. Vertebrae, for instance, allows clients to offer a virtual try-on experience using their 3D and AR technology, enabling consumers to preview products before making transactions. Another notable player in this space is VNTANA. Serving as the exclusive software platform powered by Intelligent Optimization™, VNTANA facilitates seamless viewing, management, and distribution of your extensive 3D asset library and transforms customer’s footwear sales effortlessly through the power of 3D eCommerce. 

The year 2024 will prove to be pivotal for extended reality solutions, ushering in a new era of immersive and transformative experiences. Let’s take a look at the top extended reality trends that are likely to shape the technological landscape in 2024 and beyond:

Trend# 1: Immersive Retail

The global retail industry has undergone substantial changes in recent years, primarily due to e-commerce, which gained momentum during the COVID-19 pandemic. But despite the unparalleled convenience of online shopping, it lacks the sensory stimulation that physical stores provide. While many retail chains have begun integrating XR solutions into their stores, the year 2024 is expected to witness further penetration of this technology in global markets. “Immersive retail,” employing technologies like AR and VR, will serve as a bridge, crafting more engaging and personalized shopping experiences. This approach will normalize a “try before you buy” trend and improve in-store interactions. In fact, research indicates that 80% of consumers find the overall experience of immersive shopping appealing.

Immersive retail technology maximizes the potential of big data and AI for hyperpersonalization, tailoring displays to individual preferences. It also efficiently manages real-time inventory, provides 3D product views online, and employs social VR for shared shopping experiences, seamlessly blending the advantages of digital and physical retail.

Speaking of examples, Sephora, a leading beauty retail chain, stands out as a pioneer in AR-based virtual try-ons. Through AR, Sephora’s mobile app enables customers to virtually try different shades of makeup, offering a preview without even visiting a store. This has resulted in higher interaction rates and increased time spent on their app. Moreover, the implementation of AR try-ons has reportedly contributed to higher conversion rates for their online store, demonstrating the positive impact of immersive retail on customer engagement and sales.

Farfetch, renowned for luxury boutiques, has introduced a “Store of the Future” in its London retail space. This augmented retail solution seamlessly blends online and offline experiences, featuring connected clothing racks, touch-enhanced mirrors, and sign-in stations utilizing online data. Customers access their purchase history and wish list, providing valuable insights for sales. A smart mirror allows size requests, exploring alternatives, and payments in the dressing room. This innovation earned Farfetch the title of “The Retailer of the Future,” harmonizing boutique charm with online convenience.

Gucci and Snapchat collaboratively inaugurated a global AR shoe try-on campaign. By leveraging Snapchat’s AR platform and SnapML feature, the campaign achieved notable success. The realistic try-on experience for four unique pairs of sneakers not only captured the attention of Snapchatters but also effectively kept them engaged.

Trend#2: Immersive technology in Real-estate

Extended Reality (XR) is on the verge of revolutionizing the real estate industry, as evident from the predicted surge of the real estate VR market to $2.6 billion by 2025. This transformative innovation facilitates virtual property tours, remote collaboration, and interactive showrooms, allowing buyers to customize and visualize spaces. XR also supports design visualization, remote property management, and augmented property information. It improves market analysis, provides valuable training tools, and facilitates remote property sales, promising to streamline processes and redefine marketing strategies.

A notable example is Inspace, an integrated property presentation platform that centralizes data, enables interactive presentations, and offers analytics. Another example is Matterport, which provides real estate professionals with 3D and VR property visits. Matterport utilizes “True 3D” technology to provide potential clients with the ability to experience immersive walkthroughs, floor plans, and accurate interior measurements.

Trend# 3: 5G Connectivity

According to a report by XR Today, 5G will have a big impact on the development of extended reality because it gives users uninterrupted access to wireless content, which enhances the immersive experience overall. To use extended reality apps smoothly, large amounts of data must be sent very quickly. 5G connectivity provides speeds that are twenty times faster than those of current mobile networks, thereby establishing the foundation for the implementation of cloud-based and wireless VR and AR.

Beyond this, 5G is poised to broaden access to extended reality technologies by eliminating the necessity for expensive computers and facilitating businesses to incorporate XR capabilities without hefty infrastructure investments.

Furthermore, the anticipated arrival of “5G-Advanced” in the coming year promises additional wireless technology innovations, encompassing speed improvement, expanded coverage, heightened mobility, and increased power efficiency. Experts in wireless technology think that 5G-Advanced will grow to support integrated sensing and communication, the Internet of Things (IoT), tactile and multi-modality communication services, mobile metaverse services, and networks of service robots that are smart in their surroundings.

Addressing the challenges along the way

While extended reality technology continues to expand at an exponential rate, there are still several challenges that businesses must address prior to its adoption. One significant challenge is the considerable financial investment, especially when utilizing cutting-edge and sophisticated tools. An additional barrier is connectivity-related complications that disrupt the immersive experience. Seamless immersive experiences with minimal latency and lag demand dependable access to the available connections.

Collaborating with industry experts, like InfoVision, will enable businesses to address such challenges head-on and make the most of the technology. InfoVision, with a dedicated team of experts, offers comprehensive XR solutions by leveraging our proprietary frameworks in AI/ML and computer vision across various domains. Working closely with business leaders in top-tier TMT and industrial firms, we harness the significant advantages of 5G technology to explore new use cases and assist organizations in making a compelling business case for these applications. InfoVision innovates processes and delivers cost-effective solutions to empower businesses to emerge as leaders in the market.

As extended reality solutions become mainstream and affordable, they will mark the beginning of a new era for businesses. The possibilities and use cases of business solutions based on XR are limitless. While many industries have been early adopters of the technology, the coming years are expected to follow closely, making XR a strategic necessity in the future.

Thinking of adopting XR solutions? See how InfoVision helps businesses stay ahead of the technological curve with tailored solutions. Connect with us today to learn more!

Smart manufacturing: Transformative tech trends shaping 2024

Posted on by siteowner

In today’s world, technology has woven itself into the fabric of every industry, including manufacturing. The journey towards complete digitization is not a distant future – it’s happening now, reshaping businesses both big and small. As enterprises embark on this transformative path, the focus shifts from merely investing in technology to optimizing and profiting from it.

The global manufacturing sector has witnessed a radical shift in recent years. The catalyst for this change was the challenges brought on by the pandemic, which forced the very backbone of global commerce to confront unprecedented disruptions in supply chains. Amidst these trials, technology emerged as more than a tool; it became a lifeline, offering resilience and adaptability in the face of adversity.

The dawn of a new age in digital manufacturing is upon us. Increasingly, manufacturers are embracing this shift, leveraging data-driven insights to propel themselves towards more sustainable and efficient manufacturing practices. For instance, a study by Workday reveals that automation can reduce planning and reporting cycles in manufacturing by a staggering 50%-70%.

“The future of manufacturing is digital. Those who embrace technology will succeed, while those who resist will be left behind.”

– Klaus Schwab, Founder of the World Economic Forum

To capitalize on the opportunities and embrace smart manufacturing, manufacturers need a well-defined IT strategy that enables them to be more resilient than ever. As far as the digital manufacturing industry is concerned, the year 2023 has been transformative, with widespread and accelerated adoption of technologies like AI, data analytics, cloud computing, edge computing, and more that allow automation “at the source,” thereby enhancing efficiency with less dependency on centralized servers.

The manufacturing industry stands on the brink of a transformative era defined by three pivotal pillars:

1. Connectivity: The backbone of modern manufacturing, connectivity ensures seamless integration and communication across various systems and processes.

2. Intelligent automation: This is the driving force behind smarter operations, leveraging AI and robotics to enhance efficiency and precision.

3. Scalable data management & analytics: The ability to manage vast amounts of data and extract actionable insights is critical for strategic decision-making and continuous improvement.

Within these domains lies a spectrum of technologies poised to redefine manufacturing. These range from IoT devices that offer real-time monitoring to advanced analytics that predict maintenance needs, and from AI-driven automation that optimizes production to scalable cloud infrastructures that support the ever-growing data demands.

For manufacturers to thrive amidst rapid industrial evolution, it’s crucial to not only watch these trends but to actively incorporate them. We invite you to join the conversation and discover the technologies set to shape the future of manufacturing excellence.

Trend #1: Smart factories will transform shop floors

A “smart” factory stands as a highly advanced and automated facility, revolutionizing conventional operations through key technologies like the Industrial Internet of Things (IIoT), Artificial Intelligence (AI), automation, and digital twins. Projections indicate that the global smart factory market is poised to reach approximately $321.98 billion by 2032, with a CAGR of 9.52% from 2023 to 2032.

Smart factories enhance efficiency and production processes by utilizing interconnected devices, real-time analytics, and smart sensors. Today, smart factories have found applications across diverse industries, including energy, power, automotive, oil and gas, electronics, and semiconductors. For instance, the Tesla Gigafactory in Germany integrates solar panels to promote sustainability and reduce operating costs. Similarly, BJC Healthcare in the US has adopted smart manufacturing that incorporates IoT into its processes. The company employs Radio Frequency Identification (RFID) technology to track medical supplies. The implementation of a smart factory has enabled them to reduce costs, increase operational efficiency, and overall improve the company’s functionality.

Rise of digital twin technology

The evolution of cutting-edge technologies also fuels the rise of digital twin technology in manufacturing, creating a digital replica of physical processes for informed decision-making. Ford’s implementation of AI-driven predictive maintenance through digital twin technology serves as a notable example. Ford develops distinct digital twins for each vehicle model, covering various production stages from concept to operation. These digital models extend to manufacturing procedures, production facilities, and the customer experience. Ford’s digital twin accurately identifies energy losses, highlights areas for energy conservation, and boosts overall production line performance. The growing popularity of digital twins is reflected in projections, which anticipate a market size of $73.5 billion by 2027.

AI/ML play a crucial role

The strategic use of AI empowers manufacturers to analyze extensive datasets systematically, identify patterns, and facilitate intelligent decision-making. In the supply chain domain, AI plays a crucial role in predictive analytics, optimizing inventory management, refining demand forecasting, and streamlining logistics. This is evident in companies like Amazon, which employs AI-powered algorithms to expedite deliveries, reducing the gap between their products and customers.

AI is influential not only in the supply chain but also in various other areas. This can be seen from the example of the Haier Group, a leading consumer electronics and home appliances manufacturer in China. The group has integrated AI into its manufacturing processes within a smart factory framework. This integration enhances various aspects such as quality detection, maintenance, machine collaboration, material transportation, energy management, and security. This example underscores the multifaceted applications of AI in modern manufacturing, showcasing its potential for operational enhancement and efficiency across diverse industries. The trajectory of AI indicates that Generative AI will play a central role in the years to come.

Notably, discussions about AI are incomplete without addressing machine learning, a crucial component in predictive analytics for quality control. Machine learning algorithms play a substantial role in proactive measures to enhance product quality and optimize manufacturing processes. A significant two-thirds of manufacturing companies attribute substantial revenue savings or generation to machine learning and advanced analytics.

A notable paradigm shift

Additionally, technologies such as Augmented Reality (AR) and Virtual Reality (VR) provide an immersive experience in manufacturing, allowing users to enhance their senses with real-time data from any location, ensuring constant and accurate awareness of the factory’s status anywhere, anytime. Furthermore, Web 3.0 enhances machine interactivity through advanced technologies such as AI, deep learning, machine learning, Big Data, and data analysis, enabling machines to comprehend information like humans using language comprehension technologies and the Semantic Web.

In the domain of manufacturing, a notable paradigm shift is underway with the introduction of Collaborative Robots (Cobots). These human-powered robots work alongside humans, contributing to efficiency by providing strength, power, precision, and data. Importantly, AI technology facilitates their ease of programming and quick learning, marking a significant advancement in the manufacturing landscape.

Trend #2: Blockchain technology will subside supply chain challenges

Blockchain technology is truly a transformative tool when it comes to enhancing transparency and security within the digital manufacturing supply chain. Through the creation of a tamper-proof record of transactions, leveraging blockchain in the supply chain enables manufacturers to meticulously trace products throughout their entire lifecycle, from raw materials to finished goods. This robust and unalterable ledger system ensures data integrity and authenticity.

Blockchain also offers manufacturers the opportunity to streamline operations, gain heightened visibility into supply chains, and track assets with unparalleled precision, as revealed by PwC. This is one of the reasons why Walmart, the retail giant that sells everything from furniture to the latest mobile phones, leverages blockchain technology to oversee their suppliers of leafy greens, aiming to guarantee product safety and expedite the process of providing evidence in case of a claim. The system collects data at each stage of the greens’ journey, starting with the planting of seeds. Even after the greens reach the shelves, the company can continually contribute data to the platform.

Currently, 24% of industrial manufacturing CEOs are either exploring or implementing this transformative technology. As cybersecurity and data privacy become more critical as a direct result of digital transformation, Blockchain applications are expected to become more prevalent in the manufacturing industry soon.

Other futuristic technologies that will have a major influence on the future of manufacturing over the span of the next 2–10 years include Intelligent Process Automation, Autonomous Mobile Robots, Cobots, AR/VR/MR/metaverse, Web 3.0 and Knowledge Engineering, Intelligent Edge, Neuromorphic computing, 4D Printing, Quantum Computing, 6G and c-band, Zero Trust security, self-diagnosis systems, resilient and self-healing systems, AND Fully Homomorphic Encryption.

Overcoming digital manufacturing challenges can be daunting

Embracing digital transformation has its own challenges for manufacturers. For instance, modernizing legacy systems demands significant investments, including hardware upgrades and standardization of data formats. Efficiently managing diverse data sources requires robust strategies and advanced analytics. Cybersecurity is an important concern as well, necessitating multi-layered defenses and compliance with privacy regulations. Lastly, addressing the skills gap and overcoming resistance to change in the workforce requires targeted training programs, clear communication, and stakeholder engagement for successful digital adoption.

To effectively tackle these challenges, it is imperative for manufacturers to partner with experts who have the combined knowledge and experience of the domain and technology. At InfoVision, we specialize in supporting the expansion of manufacturing to accelerate digital transformation. Over the years, we have helped numerous manufacturers address key challenges with digital transformation, offering solutions in product design, engineering, and cutting-edge technologies like AI, IoT, and mobile app development. Our expertise extends to crucial areas like Blockchain-based supply chains, Data Analytics, smart manufacturing, and more.

The opportunities are endless

As we gaze into the horizons of 2024, the manufacturing industry is poised for a remarkable transformation where a fusion of cutting-edge technologies meets the dynamic challenges of business. This blend is set to revolutionize efficiency and spur innovation like never before. We also expect that the supply chain complexities will be more than just a hurdle; they will act as critical drivers for change, shaping the future of manufacturing in profound ways.

For manufacturers, understanding these shifts is crucial. These are not mere tweaks to existing processes; they represent a paradigm shift, heralding a new epoch in manufacturing execution and strategy. This is more than adaptation; it’s a complete reimagining of the manufacturing ethos for 2024 and beyond.

Partner with InfoVision to stay ahead of the curve of transformative shifts in the digital manufacturing industry. Contact us today to learn more.

Cybersecurity trends 2024: Where’s the industry headed?

Posted on by siteowner

The year 2023 proved to be a defining year for cybersecurity with  headlines about persistent ransomware challenges, Distributed Denial of Service (DDoS) attacks, concerns over global supply chains, and a push for cybersecurity digital transformation. There were a number of attacks such as the one on Hot Topic – an American apparel retailer – who was a target of a series of credential-stuffing attacks.  In Italy, a number of banks were taken offline due to targeted DDoS attacks. Prospect Medical Holdings, a major hospital network in the United States, fell prey to a ransomware-driven cyber attack in 2023. The public sector companies too faced similar challenges. 

The year 2023 also witnessed greater adoption of Zero Trust architecture, primarily due to an evolving network landscape, increasing cyber threats, cloud adoption, and a shift towards data-centric and user-centric security models.  This  highlighted the importance of having a comprehensive cybersecurity strategy to not only safeguard data and infrastructure but also maintain stakeholder’s confidence. 

What then is the moral of the story here? As we step into 2024, it’s crucial for organizations to traverse from a reactive – to proactive – to a predictive stance in their cybersecurity efforts. 

This blog presents our perspective on the top cybersecurity trends expected in 2024, underscoring the challenges organizations may encounter while adapting to these developments. We also delve into innovative strategies that can position organizations not just to respond to, but to anticipate and outpace, the dynamic landscape of cyber threats in 2024 and beyond. Our focus is on empowering organizations to establish a robust, forward-thinking cybersecurity framework that safeguards their digital assets against emerging and future threats.

Suggested Read: The zero trust model: “Trust no one” approach to cybersecurity

Addressing the most serious cyber threats head-on

In 2023, cybersecurity experts defined “Advanced Persistent Threats” (APTs), as among the most dangerous cyber threats so far that target mobile phones, wearables, and smart devices, aiming to infiltrate business systems. Furthermore, by utilizing strategies like Living-Off-The-Land (LoTL) attacks, APTs pose significant risks due to their complexity, making their detection even more challenging, according to Kaspersky’s Global Research and Analysis Team (GReAT).

As we enter 2024, cyber experts are advising organizations to take precautions against APTs by regularly checking for unauthorized access using robust systems, employing threat intelligence feeds, behavior-based protection, and securing spaces for suspicious files to bolster security. To summarize, organizations must aim at having a dedicated cybersecurity strategy and continuous network monitoring tools to minimize the risks and prevent damages from APT attacks.

Suggested Read: The Relevance of Simulated Phishing Campaign in Today’s World

To create a robust cybersecurity strategy, organizations must become more proactive and predictive to ensure that they remain updated at all times. With 2024 on the horizon, here are the top cybersecurity trends to expect:

Trend #1: Digital risk management will play a crucial role in cybersecurity

Digital risk management has now become a key strategy for numerous organizations. Organizations use it to integrate cybersecurity effectively across their digital infrastructure.

Traditional methods of counting threat incidents are  becoming inadequate against sophisticated cyber-attacks over the years. Proactive organizations are investing more in cybersecurity and adopting advanced technologies. According to the CompTIA State of Cybersecurity 2024 report, about 30% of organizations take a more rigorous stance with enterprise-wide risk assessments, sans a formal risk management framework.

But unlike other business departments measuring success through returns on investment, evaluating the effectiveness of cybersecurity is a different ballgame. Since cybersecurity strategies don’t directly generate revenue, the increased spending on them didn’t necessarily yield greater financial returns. Metrics like the “percentage of fixed systems” or “trained experts” were used to gauge cybersecurity performance, exposing a gap in connecting cybersecurity with the overall health of the organization.

That’s where digital risk management comes into the picture. By identifying risks, maintaining IT vulnerability management, assessing likelihood, and formulating robust plans, cybersecurity experts are able to bridge the gap between spending and desired outcomes. Organizations can now acknowledge the impossibility of achieving perfect cybersecurity, opting for rigorous cyber risk management practices over unlimited spending to enhance safety measures.

Trend #2: Generative AI will become a powerful cybersecurity tool

Generative AI (Gen AI) and Large Language Models (LLMs) are quickly becoming key players in bolstering cybersecurity. Such AI tools have the capacity to impact both attackers and defenders, with attackers using them to create convincing phishing content, leveraging LLMs to eliminate errors and cultural discrepancies, and cyber defenders using them to strengthen their defenses. In fact, a whopping 51% of IT decision-makers believe there will be a successful cyberattack credited to Gen AI within the year!

But on a positive note, cyber defenders recognize Gen AI’s potential to enhance cybersecurity by improving the organization’s detection, response, and attribution capabilities. This helps in addressing global cybersecurity challenges like threat overload and talent shortages. Surprisingly, the influence of Gen AI and LLMs go beyond the tools for attackers; these technologies are expected to be offered as services in underground forums, providing resources for malicious activities. As they evolve, they will play a vital role in shaping the fabric of cybersecurity in the future.

In 2024, AI’s role in global cybersecurity threats and defense is expected to hold a pivotal position. Its strategic advantages will make it crucial for an effective cybersecurity strategy, contributing to risk identification, ease of analyzing data patterns, avoidance, or mitigation through real-time anomaly detection and automated incident response.

Trend #3: Cyber insurance and cybersecurity regulations will be standardized

Governments and private organizations are increasingly recognizing the severe implications of cyber threats for national security and economic well-being. The formulation of new cybersecurity regulations is significantly influenced by potential social and political consequences tied to widespread data breaches. For instance, organizations in the United Kingdom must comply with the Product Security and Telecommunications Act by April 2024, setting vital security criteria for networked products, including a ban on default passwords during shipment

As a result, cyber insurance is witnessing a shift towards standardization across providers, moving from individual broker requirements to a core control or framework-based model. Munich Re anticipates a substantial increase in the global cyber insurance market, projecting premiums to rise from $12 billion to $33 billion by 2027. 

Over the past three years, the maturation of cyber insurance has been evident, owing to evolving technologies, the rise of artificial intelligence tools, global conflicts, and 5G risks. Specific categories like “Acts of War” are now widespread in policies. However, diverse risk assessments by different carriers pose challenges of their own. In 2024, an expected shift towards a core control or framework-based approach will allow providers to standardize risk mitigation across all cyber threats, regardless of the insured entity’s size or nature.

Overcoming cybersecurity roadblocks

Formulating and implementing proactive cybersecurity measures in 2024 will demand organizations to address complex challenges from advanced technologies like Gen AI, demanding vigilant defenses, and mature digital risk management. Standardized cyber regulations, too, will pose compliance hurdles while aligning with consistent cyber insurance models for diversified risk organizations. Furthermore, digital transformation security may introduce intricate security issues, and the surge in remote workforces will only amplify cybersecurity risks. Lastly, navigating diverse geopolitical landscapes amid globalization may create opportunities and challenges alike. Addressing talent shortages, too, will become a key priority. 

To seamlessly navigate these challenges, organizations must become proactive and predictive rather than reactive. Partnering with domain experts will go a long way in creating a robust cyber defense. InfoVision’s dedicated cybersecurity practice, Enterprise Cybersecurity & Risk Services (ECRS), is designed to assist businesses in strengthening their cybersecurity posture. ECRS comprises four major towers – GRC (Governance, Risk, and Compliance), SVS (Security Vulnerability Scanning), ISS (Integrated Security System), and IAM (Identity and Access Management), offering consulting, transformation, and operational support in cybersecurity.

Future-proofing against cyber threats

The landscape of cybersecurity is on the brink of a revolutionary shift. In this rapidly evolving digital era, the stakes for safeguarding digital assets have never been higher. Organizations poised to thrive are those that adopt a predictive, adaptive approach, leveraging cutting-edge technology to stay ahead of emerging threats. 

Businesses that embody resilience and agility are not just surviving; they are setting the stage to confidently lead the next wave of digital transformation.

Ready to be at the forefront of this change? Discover how InfoVision’s bespoke cybersecurity solutions can fortify your business. Connect with our experts today and embark on a journey to secure, future-proof success.

Decoding reporting frameworks: A comprehensive guide

Posted on by siteowner

In the age of data-driven decision-making, the role of reporting tools is more crucial than ever. These tools not only transform raw data into actionable insights but also serve as the cornerstone for strategic planning and informed decision-making.

This blog will help you understand the leading tools in the market, offer a comparative assessment, discuss their pros and cons, and provide our perspective. Additionally, we introduce an all-encompassing architecture to help you create a framework or blueprint for your reporting needs. Whether you’re deciding to buy or build, this blog will guide you through the decision-making process.

Why reporting tools are essential in business

Reporting tools are the linchpin that converts raw data into meaningful visualizations. They serve various industries and business functions, enabling better understanding and informed decision-making.

Let’s explore the different types of reporting tools used across various sectors.

Key Considerations for Designing a Reporting Framework

Choosing the right framework or a combination of frameworks is not a one-size-fits-all approach. It depends on various factors such as the information to be communicated and the key stakeholders involved. Here are some points to ponder:

  • Identify stakeholder needs: The best way to understand what your stakeholders need is to ask them. This could range from suppliers and customers to employees and investors.
  • Data collection: Once you understand what matters to your stakeholders, you can report what they need to know. But first, be clear about what data is required, and establish a mechanism to collect and analyze it. Doing so is not always easy, especially when the data is dispersed throughout the company, or not all of it is owned by the company.
  • Data presentation: Companies can only be confident in their reporting when it is subject to board oversight and has the right governance systems in place.
  • Strategic alignment: Your reporting data should align with the company’s focus or goals and should help in achieving future objectives.
  • Industry trends: In today’s world, organizations must also consider global challenges like climate change and unprecedented events like COVID-19.

Let’s take a closer look at some of the most popular reporting tools and their unique features.

1. Jasper Reports

Overview:

JasperReports is an open-source Java-based reporting tool that facilitates content creation for various outputs like PDF, XLS, RTF, and more. Designed to enhance Java applications, it’s pivotal in business intelligence and data analytics for generating dynamic content such as financial summaries, demographic reports, and inventory overviews. Its robust layout engine supports intricate report designs with elements like tables, charts, and images. With a diverse range of visualization options, from bar charts to maps, and advanced features like data grouping and filtering, JasperReports can pull data from multiple sources, including databases via JDBC, XML files, and JavaBeans, ensuring versatile and comprehensive report generation.

Key features:
  • Multiple export formats
  • Graphical/textual data representation
  • Watermarks
  • Data from multiple sources
  • Extensive control over layout
  • Variety of visualization options
  • Real-time dynamic reports
Use cases:
  • Financial reports
  • Customer demographics
  • Inventory reports

2. BIRT (Business Intelligence and Reporting Tools)

Overview:
BIRT, an open-source initiative by the Eclipse Foundation, offers a comprehensive framework for designing, generating, and delivering reports in Java-based applications. Predominantly used in business intelligence, data analytics, and enterprise sectors, BIRT ensures flexible and tailored reporting. It simplifies business reporting with its robust features, including data visualization, scripting, and diverse data source compatibility. Central to BIRT are its two primary components: the Report Designer, which facilitates swift creation of visual charts and in-depth analytical reports, and the Report Server, both enhancing clarity and insight into data representation.

Key features:
  • Drag and drop interface for creating layouts
  • Support for various data sources like database, xml, web services and others
  • Rich data visualization features
  • Scripting support for calculations, business logic and data manipulation
  • Multi-language support
  • Data filtering and grouping
Use Cases:

3. Tableau

Overview:

Tableau is a renowned data visualization and business intelligence tool that enables organizations to analyze, visualize, and share data seamlessly. Its strength lies in its user-friendly interface, making data organization, visualization, and comprehension straightforward. Users can craft graphs, maps, dashboards, and stories to support decision-making. Known for its simplicity, speed, and interactivity, Tableau has garnered significant popularity in both the public and enterprise sectors. A standout feature is its intuitive drag-and-drop functionality, allowing even non-technical users to master the tool and create dashboards without extensive coding knowledge.

Key Features:
  • Extensive connectivity options
  • Multiple data source blending
  • Interactive visualizations
  • Device-specific dashboard
  • Large data handling
  • Easy to learn
  • Multiple collaboration options
  • Integrated security
  • Time series and forecasting capabilities
Use Cases:
  • Data visualization
  • Business decision-making
  • Data analysis

4. Pentaho

Overview:

Pentaho is an open-source reporting project that offers a comprehensive set of BI features, including ETL, reporting, analytics, visualization, and data mining.  The suite consists of Report Designer, Reporting Engine and Reporting SDK.  Pentaho provides multiple, integrated options for report design, including the Pentaho Report Design Wizard, which walks a user through a series of steps to create a report. Pentaho’s JFreeReport project offers both scheduled and on-demand report publishing in popular formats such as XLS, PDF, TXT, and HTML. It offers a wide range of analysis a wide range of features that includes a pivot table view. The tool provides enhanced GUI features (using Flash or SVG), integrated dashboard widgets, portal, and workflow integration.

Key Features:
  • Business intelligence solutions
  • ETL capabilities
  • Important components including Report Designer, Design Studio, Aggregation Designer, Metadata Editor, and Pentaho Data Integration.
  • Multiple data source support including databases, spreadsheets, XML files, web services, and more
  • Various report formats
  • Interactive features
  • Advanced analytics capabilities
  • Cross-platform compatibility including Windows, Linux, and Mac operating systems
Use Cases:
  • Business performance improvement
  • Business efficiency

5. Power BI

Overview:

Power BI, developed by Microsoft, is a technology-driven business intelligence platform that transforms raw data into actionable insights using a suite of software services, apps, and connectors. It emphasizes data visualization, business analytics, and best practices, enabling businesses to make informed decisions through interactive dashboards and reports. As a component of Microsoft’s Power Platform, Power BI offers a user-friendly interface for organizations to manage and analyze vast data volumes. It automatically processes data, presenting insights in visual formats like charts and graphs, tailored to the data type. This versatility makes it indispensable across various departments, from marketing to finance. Users can seamlessly embed dashboards and reports into applications for a cohesive experience, ensure up-to-date data through automatic refreshes, and leverage its cloud capabilities for efficient data retrieval and analysis, making Power BI a leading choice in data analytics platforms globally.

Key Features:
  • Varied dashboard and report options
  • Wide variety of data source connections
  • Data transformation
  • Real-time insights
  • Cost-effective
  • Scalable
Use Cases:
  • Data-driven decision-making

6. Business analytics Google Analytics

Overview:

Google Analytics, a robust web analytics tool by Google, offers insights into website traffic sources, including organic search, paid search, social media, and more, highlighting the most effective channels for traffic and conversions. Especially valuable for e-commerce sites, it provides in-depth data on sales, revenue, and product performance. This tool empowers website owners and marketers to comprehend user behavior, monitor site performance, and make informed decisions. It offers real-time analytics on user interactions, aiding in optimizing marketing strategies and boosting ROI. Instead of relying on guesswork, users benefit from its data-driven approach and machine learning models to strategize successful ad campaigns. Google Analytics aggregates data from various ad platforms, presenting it cohesively. Embedded via JavaScript, it captures comprehensive user activity data, offering metrics like bounce rates, page views, session durations, and more. Its customizable features, supported by a broad third-party ecosystem, cater to diverse company needs, presenting tailored reports, dashboards, and alerts. Key report categories include Advertising, Audience, Behaviour, Real-Time, and Conversion Reports.

Features:
  • Audience insights
  • Real-time data
  • User behavior tracking
  • Traffic source tracking
  • E-commerce insights
  • Robust integration solutions
  • Use Cases
  • Website performance tracking
  • Marketing analytics Introducing Infovision’s Reporting Framework
Use case:
  • Web analytics
  • E-commerce sites

InfoVision reporting framework

Infovision offers a plug-and-play reporting framework that seamlessly integrates with existing systems and supports multiple data sources. Built on a microservices architecture, it ensures high performance and scalability. The framework operates on both client and server sides, accelerating report generation and customization for optimal performance. Its API-centric design allows compatibility with any application, regardless of its foundational language. Designed with versatility in mind, the application is highly customizable to meet diverse needs.

Key features are outlined below.

Salient Features:
  • Operates on both client and server sides
  • Amplifies the report generation and customization process
  • Achieves a faster rate to enhance overall performance
  • API-based design
  • Can be consumed by any application
  • Compatible irrespective of the application’s underlying language

Conclusion

Reporting tools are indispensable in today’s business landscape. They not only assist in data visualization but also aid in making strategic decisions. Whether you are a small business or a large enterprise, choosing the right reporting framework is crucial. Infovision’s reporting framework offers a robust, scalable, and customizable solution that can cater to all your reporting needs.

The fascinating world of digital humans: from creation to real-world uses

Posted on by siteowner

The digital age continually surprises us with innovations that have been drawing significant attention due to their transformative potential.  The excitement never ceases. Quantum computing, neural interface technology, augmented and virtual reality, metaverse, digital twins are just a few examples that illustrate the point. However, none perhaps has been as intriguing as the concept of “digital humans”.  This technology represents a significant leap forward in human-computer interaction.  As the landscape evolves, there is every likelihood that digital humans will take over roles as virtual secretaries, healthcare advisors, sales assistants, and more, making business outreach more expansive, engaging, interesting, and automated.

Where do the digital humans fit in our future? We asked this question in a poll that we recently conducted on our social media handle.  The responses offer interesting insights:

  • Customer service agents: 60%
  • Health/Mental Coaches: 16%
  • Marketing agents: 18%
  • Others: 6%

    Understanding digital humans

    The terms “digital humans” and “digital avatars” are frequently used synonymously, but there are distinctions worth noting. Both refer to virtual representations of humans, often crafted with intricate design. Many digital humans exhibit lifelike characteristics in appearance, speech, motion, and personality. These are bolstered by artificial intelligence to replicate authentic human interactions, providing a depth of realism that transcends typical bots.

    Conversely, some applications of this technology lean towards simpler representations. A classic example would be customizable characters in video games or digital entities representing users on online platforms. Unlike their more sophisticated counterparts, these may lack lifelike human characteristics or nuanced personality traits.  With either extremes of the visual experience and rendition, the digital “person’s” characteristics and capabilities can be intricately developed to be as complex as to communicate naturally, grasp context, exhibit expressions, and emulate human behaviors, all to elevate and come closer to real-life interaction.

    When you enhance these digital humans with the capability to display micro-expressions and contextually relevant body language, their potential becomes vast. They can be customized for the specific tasks mentioned earlier and even beyond.

    Adoption challenges and roadmap

    Digital humans are not designed to replace real humans by any stretch, at least in the foreseeable future. They are meant to act as interfaces that come very close to the experience of a human interaction. They facilitate, complement, and enhance the engagement levels, making the ever-expanding digital universe more interactive and user-friendly. As AI and related technologies evolve at a breakneck pace, there’s a surge in innovation aimed at weaving digital humans seamlessly into our daily lives. Yet, whether society will fully embrace these virtual entities remains an open question.  

    Navigating our rapidly evolving cultural landscape is a complex task, with several factors creating an adoption gap. Central to this gap is the issue of TRUST. While many early adopters are keen to explore new technologies, widespread acceptance hinges on dispelling doubts. Interactions with humans provide a unique blend of intellect (IQ) and emotion (EQ) – offering empathy, assurance, and confidence. The challenge lies in determining whether AI can genuinely emulate this blend, and if so, to what extent can we trust its autonomous actions. Addressing and resolving these questions is crucial.

    While AI has repeatedly showcased its intellectual prowess, ‘trust’ stands as the primary obstacle. The rise of deepfakes and associated misuse has only exacerbated this distrust. Genuine AI adoption critically depends on confidence in its governance—ensuring the models’ validation, their precision, adherence to ethical standards during AI development, and data security. Despite the prevailing excitement about Gen AI and automation, proper oversight—especially concerning the tonality and emotional aspects of Gen AI models—is essential to earn this trust.

    Other contributing factors to potential adoption gaps include demographics, user interaction preferences, and an inherent cultural inclination for human interaction over machines. The journey to wholehearted acceptance therefore is a long one. Nonetheless, experimenting with these innovations in real-world settings, under robust governance, can be the initial step to foster trust and accelerate adoption.

    I, personally, am open to exploring these new technologies. I’d rather interact with a clearly computer-generated avatar than something mimicking a real human, as long as it’s smart, emotionally adept, and governed properly. Knowing I’m dealing with an AI, rather than being deceived into thinking it’s human, builds trust for me. However, opinions vary. Catering to such diverse preferences is a significant challenge.

    Technological challenge of digital humans

    As the domain of digital humans expands, a pressing question emerges: In which scenarios can we realistically see their immediate adoption? Let’s explore some potential avenues, such as customer service agents, health and mental coaches, and marketing campaigns.

    But before diving into these applications, it’s vital to highlight the technological challenges at hand. Creating a real-time interaction with a digital human involves multiple stages.

    • First, there’s the (automatic) generation of a text-based message, regardless of real time messaging or pre-processed messaging.
    • Next, this text must be transformed into speech with appropriate tonality. Here too, there is the additional complexity of robotic voice as opposed to human like voice.
    • Finally, and most intricately, this speech should synchronize flawlessly with the digital human’s facial movements, lip synchronization, and subtle micro-expressions.

    Generating text and converting it to speech can happen instantly. But, synchronizing this audio with facial expressions, gestures, and body language requires significant processing strength. This makes real-time interactions with digital humans challenging, especially because of the intensive third stage of processing (refer to the points mentioned above). To address this, we’d need to turn to more expensive and powerful robotic solutions, which utilize advanced onboard or edge processing.

    Scenarios for human-computer interaction

    Yet, this doesn’t mean digital humans aren’t ripe for adoption in specific scenarios. They’re incredibly suited for pre-processed messages, like tailored marketing pitches or customer service prompts. Here’s why:

    • Marketing automation: Digital humans excel in creating personalized, emotion-driven advertising. They can adapt ads to various languages and materials. With the right technology stack, businesses can harness them to craft bespoke marketing messages, opening up significant revenue and cost-saving avenues.
    • Customer service automation: Instead of real-time responses, digital humans can handle outgoing messages—think reminders, collection notifications, or follow-ups—with a personal touch.
    • Learning & development: Whether it’s in healthcare or corporate training, many educational interactions are unidirectional. Digital humans can offer a consistent, always-available mode of instruction.
    • Customer education: Digital humans can spearhead tutorials, product demonstrations, or informational sessions, ensuring clarity and engagement.

    In sum, while we may be a little away from real-time conversations with digital humans, there’s vast potential in pre-defined or pre-processed interactions, especially when ethical and procedural governance is woven into their deployment. The processing gap (Step 3) can be bridged not too far from now, and that poses very exciting technological advancements even beyond what we see today. The future beckons with exciting opportunities in this space!

    You may navigate the world of digital humans further by exploring our white paper Digital humans:  Revolutionizing human-computer interaction.

    Or, reach out at digital@infovision.com for a detailed discussion.

    The zero trust model: “trust no one” approach to cybersecurity

    Posted on by siteowner

    ‘BeyondCorp’ was Google’s initiative of 2010 that paved the way for secure access to corporate resources from any location or device without a VPN. This was the first instance of an implementation of the zero trust approach that aimed at enhancing security with a focus on identity and context rather than relying solely on perimeter-based defenses.

    Zero trust model: a paradigm shift in cybersecurity

    The need for continuous authentication and authorization led to a ‘never trust, always verify’ principle that became the basis of a new model proposed by Forrester Research analyst John Kindervag in 2014. ” In a report titled “No more chewy centers: introducing cybersecurity zero trust,” John Kindervag mentioned that zero trust assumes no one, whether inside or outside the network, can be trusted without verification.

     In today’s world, cybersecurity threats are more complex and sophisticated than ever before. Traditional security models are no longer sufficient to protect sensitive data. Organizations need to adopt new approaches to ensure that their data is secure.

    Zero trust is one such approach that offers a more effective way to protect sensitive data. Let’s find out why zero trust is a good approach toward cybersecurity.

    The zero trust security model coils around the idea of every user, device, or application being a potential threat until proven otherwise. This approach has gained popularity in recent years due to the increase in cyberattacks and the need for more comprehensive security strategies.

    Do we really need a zero trust model to protect our organizations?

    A substantial number of organizations around 41%, participating in a global survey expressed their commitment to implementing a cybersecurity zero trust strategy, signifying a growing recognition of its benefits and an early phase of adoption.

    Implementing a zero trust approach is, undoubtedly, one of the most effective ways to protect our organizations against cyber threats, but whether it is necessary for your specific organization depends on a variety of factors.

    If your organization deals with sensitive data, such as financial or personal information, or if you have valuable intellectual property that needs to be protected, then implementing a zero trust model is highly recommended. Zero trust can help prevent data breaches, reduce the risk of insider threats, and provide better control over user access to sensitive resources.

    However, if your organization doesn’t handle sensitive information, and you have a small, well-defined network perimeter, you may not need to implement a cybersecurity zero trust model. In this case, traditional security measures such as firewalls, antivirus software, and intrusion detection systems may be sufficient.

    Ultimately, the decision to adopt zero trust security services should be based on a comprehensive risk assessment and an understanding of your organization’s specific security needs and resources.

    How does zero trust security work?

    Zero Trust involves implementing a set of security policies and controls to authenticate and authorize every access request to resources, regardless of the user’s location or the device they’re using. This includes implementing multifactor authentication, role-based access controls, and continuous network traffic monitoring. To achieve this, organizations need to adopt a holistic approach that includes people, processes, and technology.

    With the rise of remote work and cloud computing, the traditional perimeter-based security approach is no longer effective. Zero trust offers a more effective way to protect sensitive data by limiting access to only authorized users and devices. By adopting this approach, organizations can significantly reduce the risk of data breaches and protect their sensitive information from unauthorized access.

    Moreover, zero trust can comply with organizations’ help with data protection regulations such as the GDPR and the upcoming ‘Personal Data Protection Bill’ in India. By implementing zero trust, organizations can demonstrate their commitment to protecting the privacy of their customers and employees.

    How can the zero trust model be a game changer?

    Zero trust security model provides

    • Improved security
    • Reduced risk of data breaches
    • Increased visibility and control over network access
    • Simplified compliance with industry regulations

    As organizations rely on digital technologies, the need for robust cybersecurity measures has become more critical than ever before. The zero trust model provides a comprehensive and effective approach to cybersecurity, offering enhanced security, reduced risk, improved compliance, and increased visibility. Implementing this model may require significant effort, but it’s a worthwhile investment in protecting sensitive business-critical data and safeguarding against cyber threats.

    We at InfoVision help our clients to reduce risks (ransomware, supply chain attacks, insider threats) by providing consideration services like SOC (Security Operation Center), multifactor authentication (MFA), identity management, access management, identity governance, SSO & federation, and privileged access.

    Why incorporate the zero trust model in your business?

    If you go with the stats, between 2021 and 2022, there was a 2.6% increase in the average cost of a data breach, with the figure rising from $4.24 million to $4.35 million. And implementing the best Zero Trust solutions or approach can result in substantial cost savings, reducing the financial impact of a data breach by approximately $1 million.

    Zero Trust provides a more effective way to protect sensitive data in today’s digital world. By adopting a zero trust approach, organizations can limit access to only authorized users and devices, significantly reducing the risk of data breaches.

    This zero trust access management also helps organizations comply with data protection regulations, ensuring that they protect the privacy of their customers and employees. The need for zero trust is more critical than ever, and organizations should consider adopting this approach to ensure the security of their data.

    Endpoint security

    Organizations are increasingly embracing Zero Trust principles to enhance endpoint security. This involves continuous monitoring of device health and strict access control enforcement. The objective is to eradicate implicit trust, ensuring that all access to assets and users is rigorously verified, thereby elevating security measures.

    Cloud-first zero trust platforms

    Cloud-first Zero Trust platforms are rapidly gaining popularity due to their inherent benefits. They are known for being cost-effective and scalable, offering clientless capabilities as an alternative to traditional endpoint agents. This innovative approach is making waves in the security landscape.

    Increasing adoption of zero trust

    Currently, a substantial 83% of security professionals consider Zero Trust a vital part of their security strategies. Remarkably, 80% of them intend to implement Zero Trust in 2022. This widespread commitment reflects a growing recognition of its crucial role in enhancing overall security posture.

    Zero trust in different sectors

    Sectors like insurance, financial services, and manufacturing now recognize Zero Trust as paramount for enhancing visibility and control over their endpoints. They are actively integrating Zero Trust principles into their cybersecurity strategies to bolster their defenses, acknowledging the potential benefits.

    Zero trust as a cybersecurity concept

    Zero Trust stands as a foundational cybersecurity concept aiming to eradicate implicit trust within security frameworks. Its core tenets involve continuous access verification and the enforcement of the principle of least privilege. The National Institute of Standards and Technology (NIST) has provided comprehensive guidelines for the design and deployment of Zero Trust architectures.

    Now pick the right cybersecurity partner for your business with the help of our MDR-made simple whitepaper. Download here: MDR made simple: picking the right cybersecurity partner for your business (infovision.com)

    Integration with DevSecOps

    Incorporating security practices into the development pipeline has become a crucial strategy for organizations. This proactive approach ensures that security is an integral part of application and service development right from the start.

    Zero trust network access (ZTNA)

    The increasing prominence of Zero Trust Network Access (ZTNA), often referred to as “Software-Defined Perimeters,” is remarkable. ZTNA solutions empower organizations to finely manage user and device access to specific resources, regardless of their physical location. This capability plays a significant role in reducing potential vulnerabilities and boosting overall security.

    In the realm of cybersecurity innovation, our solution, Invisinet is making its mark. Built upon the intellectual property of Blackridge, Invisinet serves as the gateway to where Zero Trust truly begins.

    Invisinet’s network and cloud security solution called Transport Access Control (TAC) enables efficient cyber defense in IIoT, smart edge, and cloud settings. TAC stops unauthorized access to IT/OT resources.

    Invisinet First Packet Authentication is a crucial feature of TAC, which inserts a cryptographically generated, single-use identity token on each side of a TCP/IP session without affecting TCP compatibility. When TAC receives the connection request, it extracts and authenticates the identity token, and applies a security policy – forward, redirect, or discard – based on the TAC identity.

    So, TAC’s identity-based protection kicks in as soon as it can, making sure that any unauthorized or unknown traffic is barred from your network, enhancing security, and lowering risk.

    To learn more about First packet authentication by Invisinet and the zero trust cybersecurity model, contact InfoVision’s expert team at  info@infovision.com.

    Decoding data classification: A simplified yet comprehensive handbook

    Posted on by siteowner

    The sixth edition of the ‘Data Never Sleeps’ report unveils the astonishing reality of data production in our world, with colossal amounts generated every single minute. Each day, a staggering volume of data, totaling over 2.5 quintillion bytes, is produced, and this upward trend shows no signs of slowing down.

    In this digital age, all organizations – big or small – are producing significant volumes of data (both structured and unstructured). While on one hand, the surge in data creation holds promise for businesses and consumers with regard to the discovery of valuable insights; on the other, attention has to be paid to the crucial aspect of data confidentiality – not only from a regulatory compliance standpoint but also from a business sustainability perspective.

    The fundamental step to achieving data protection is the identification and classification of critical data. The other steps include,

    • Data labeling
    • Data loss prevention
    • Data masking
    • Data encryption

    This blog is intended to give you a clear understanding of data classification and its role in data management and security.  We also touch upon different approaches and tools that help do this effectively.

    An overview of data classification

    Data classification is a crucial process that enables organizations to effectively manage their data. It involves categorizing data into different levels, such as public, private, and confidential. Additional security controls are implemented based on data classifications to enhance data protection further. These measures also assist in making better policy decisions based on different data categories.

    The absence of data classification increases the risk of:

    • Data breaches
    • Non-compliance with regulations
    • Lack of transparency
    • Ineffective incident response
    • Poor data management

    Effective data classification strategy

    The classification mechanism simplifies data retrieval and location, which is essential for risk management, compliance, data security, and conforming to rules like GDPR, HIPAA, and PCI DSS compliance.

    Three main types of data classification

    Data classification involves the use of multiple tags and labels that indicate the data’s type, confidentiality, integrity, and availability. The sensitivity level of the data is determined based on its importance and confidentiality, which in turn influences security strategies. The industry typically recognizes three primary types of data classification as the standard:

    Content-based

    Analyzing the content of the data, such as the text in a document or the pixels in an image, to determine its classification. Content-based data classification is a powerful tool for data protection and management.

    Context-based

    This approach considers the location, purpose, and use of the data. Context-based data classification can be useful for organizations that deal with large volumes of data with varying levels of sensitivity. It allows organizations to categorize data based on its intended use, making it easier to manage and protect the data.

    User-based

    It is valuable in organizations where data sensitivity varies significantly across different departments or individuals. Users may have a better awareness of changes in data sensitivity than a centralized data classification system, enabling them to promptly adjust the classification level as needed. Allowing users to classify data based on their unique knowledge ensures proper protection and management of sensitive data. However, user-based classification also presents challenges, such as potential inconsistency in classification and the risk of user error.

    InfoVision’s strategic approach to data classification

    Effective data classification is a key element of a comprehensive cybersecurity strategy because it helps organizations identify the most valuable and sensitive data and apply appropriate security measures to protect it.

    InfoVision presents an excellent plan of action.  It empowers businesses to identify and implement the most sensitive and valuable security measures, ensuring robust data protection.

    Typical tools used in data classification

    Data classification technologies save administrative expenses, enhance digital data file maintenance, and reduce redundant data. Data classification was solely a user-driven procedure for a long time. Today, automation has emerged as a viable alternative.

    In order to streamline data management, organizations can establish sophisticated systems that empower users to efficiently categorize the documents they produce, transmit, or modify, along with newly generated data. Additionally, users have the option to classify older materials, ensuring a systematic approach for comprehensive data organization; otherwise, they will be managed as uncategorized, potentially leading to inefficiencies in data handling.

    Here’s a quick overview of some of the software solutions focused on data protection and classification:

    AIP (Azure Information Protection)

    This technology component of the Microsoft Azure family of cloud-based services is used to secure data in both on-premise and cloud. The main advantage of the AIP tool is its easy interaction with other Microsoft applications, making it simple for users to categorize and protect their data within a familiar work environment.

    CipherTrust data discovery and classification tool

    It helps businesses locate and manage sensitive data on-premise, in the cloud, as also in hybrid settings. With the help of this technology, companies can build and implement specific data classification policies, recognize or address security concerns as they arise, and monitor data in real time.

    Titus

    Titus aids in the identification and classification of sensitive data, the implementation of access control measures, and the prevention of data loss. Its integration with various security and information management systems (SIEM) helps the security team easily identify and respond to potential security issues.

    InfoVision’s approach

    In the realm of modern businesses, a data classification policy stands as the cornerstone of robust security measures. Without a uniform framework to classify data, safeguarding sensitive information becomes an insurmountable task. After all, protecting data is contingent on acknowledging its existence, pinpointing its location, and determining the need for safeguarding.

    InfoVision provides a range of specialized services and solutions like data classification, data labeling, data loss prevention, data encryption, and data masking. By leveraging the latest technology and tools, InfoVision helps organizations stay ahead of the constantly evolving security threat landscape.

    For any further queries or suggestions, write to us at  info.ecrs@infovision.com.

    To ensure optimal security for your organization, learn more about an effective red-teaming strategy. Don’t miss our blog on red teaming, read here: Red teaming: The future of cybersecurity preparedness (infovision.com).

    Unmasking the RPA myths: A sneak peek into the truth about RPA

    Posted on by siteowner

    Robotic Process Automation (RPA) has emerged as a transformative technology, revolutionizing, and reshaping the operational landscape of businesses across various industries. It has become a key driver of innovation and efficiency in today’s rapidly evolving business environment. In fact, according to the latest findings in a comprehensive report conducted by Grand View Research, the global market size for RPA was estimated to be a staggering $2.3 billion in 2022, demonstrating its significant market presence and immense potential for growth.

    The future of robotics process automation services appears exceptionally promising, as it is projected to expand at an impressive compound annual growth rate (CAGR) of 39.9% from 2023 to 2030, according to the same report. While it is true that large enterprises dominated the RPA market share in 2022, accounting for a substantial 66.0%, the adoption and integration of RPA technologies are not limited solely to these industry giants.

    On the contrary, small and medium-sized enterprises (SMEs) are anticipated to experience the highest compound annual growth rate during the forecast period.  This is primarily due to the increasing awareness and recognition of the immense benefits and transformative power that RPA can offer within this segment.

    The remarkable growth and vast potential of RPA solutions emphasize the importance for business and technology leaders to take proactive measures in future-proofing their RPA initiatives. However, it is equally crucial to address the challenges that arise during the implementation of this transformative technology.

    Many stakeholders demand clear and direct benefits before approving technology investments, which can pose a significant hurdle for organizations. To unlock the full potential of RPA, it is crucial to understand that it is not a one-and-done solution. Rather, it requires a comprehensive approach involving planning, strategizing, and cultivating the right mindset to derive the maximum value.

    In this context, Forrester has highlighted several critical steps, among which I firmly believe that the below three possess the potential to generate significant value and effectively futureproof RPA initiatives.

    Integrate RPA seamlessly into your organization’s automation fabric

    To effectively integrate RPA solutions into your company’s automation ecosystem, it is crucial to view RPA as an integral part of your overall automation strategy. RPA should no longer be seen as an isolated entity but rather as a steppingstone towards creating a comprehensive automation fabric. In fact, it should be considered a constituent of the broader automation roadmap.

    In order to effectively align RPA solutions within your organizational structure, establish a dedicated automation organizational framework that focuses on transformation. This structure should have clear leadership and a well-defined charter that emphasizes the strategic objectives, operational goals, and governance of RPA solutions within the broader context of automation. While RPA is well-suited for automating repetitive manual tasks, its potential extends beyond mere cost avoidance. Explore transformation-centric use cases where RPA can act as a vital link in enabling digital business initiatives. By leveraging RPA as an enabler of digital transformation, you can unlock new avenues for innovation and drive business growth.

    To ensure the success of your RPA program, it is essential to secure sponsorship from the C-suite. An executive sponsor plays a pivotal role in providing strategic direction, securing funding, aligning stakeholders, championing the program, and overcoming any obstacles that may hinder its progress.

    Establish a robust business value model for RPA solutions

    Calculating the return on investment (ROI) for complex processes becomes increasingly challenging due to various factors and dependencies. To ensure a realistic and comprehensive business case, it is essential to neither overstate the potential value nor underestimate the costs involved.

    While the price of RPA licenses can vary significantly, the success or failure of achieving sustained ROI is independent of the license cost. To demonstrate the financial viability of implemented RPA solutions, take a balanced scorecard approach to assess the value generated by large-scale RPA programs that includes operational efficiency, business performance, revenue, profitability, customer experience and risk.

    Understand the different cost structures involved, including infrastructure setup, licenses, automation development and testing, long-term running costs and the cost of change. Report automation value in ways that resonate with business leadership, focusing on functional, economic, experiential, and symbolic dimensions rather than solely tactical or productivity-focused metrics. Additionally, recognize the strategic and human impact of RPA within a broader automation initiative, acknowledging its ability to free up human labor for more innovative, consumer-centric, or socially impactful endeavors.

    Approach RPA like an enterprise platform

    When implementing RPA, it is crucial to treat it as an enterprise platform and adhere to the same standards and guidelines as other technologies. To ensure good automation governance, prioritize user experience, and involve business stakeholders and process experts in the design process.

    Design the automation process responsibly by considering how they interact and impact actual users within the workflow. Apply user-centered design principles and involve experts to achieve user goals effectively. Formalize approaches to data privacy and resilience, as RPA bots handle sensitive customer and personal data. Also, be aware of vulnerabilities that may affect data provisions, such as compliance with regulations like GDPR.

    To establish an effective automation architecture, focus on building platforms and supporting reusability. Develop a library of reusable components, business objects, or code that can be easily composed into various workflows, avoiding the need to rebuild from scratch. Maintain software development and testing best practices to ensure reliable and robust RPA solutions. While RPA simplifies automation creation for business users, it still relies on scripting across different workflows and applications. Complex tasks with extensive scripting can lead to bot failures due to infrastructure issues, software reliability and changes in application UI and data.

    By embracing RPA as a vital component of your automation strategy, establishing a robust business value model and approaching it with the mindset of an enterprise platform, you can unlock the full potential of RPA and drive transformational outcomes for your organization.

    RPA: myths vs reality

    As the demand for RPA continues to grow and organizations recognize its potential, it becomes very crucial to address the concerns and misconceptions that have hindered its widespread adoption.

    Despite the evident success stories and statistical evidence supporting the value of RPA solutions, it has faced resistance from some industries when it comes to its adoption. Concerns have been raised regarding potential issues like overreliance on automated bots, susceptibility to cyber-attacks and the critical aspect of data security. These concerns have contributed to the creation of several misconceptions and myths surrounding RPA solutions.

    Unfortunately, these misconceptions and myths act as barriers that hinder the widespread adoption and prevent businesses from fully harnessing the true potential of RPA solutions. Deloitte’s global robotics process automation survey report revealed a relatively small increase in organizations investigating or implementing RPA solutions and only 3% of leaders scaled their RPA capabilities to more than 50 robots.

    In the below infographic, we debunk some of the most common myths associated with RPA.

    Conclusion:

    Robotic process automation is a powerful technology that can drive business transformation by automating repetitive tasks, improving efficiency, reducing costs, and enhancing the overall customer experience. By dispelling common myths surrounding RPA, organizations can gain a better understanding of its capabilities and make informed decisions about its implementation. Embracing RPA and leveraging its potential can accelerate digital transformation and help businesses stay competitive in the ever-evolving landscape of automation. RPA is not a one-size-fits-all solution and organizations must carefully assess their processes and objectives to determine how RPA can best be utilized to drive value and achieve their strategic goals.

    We understand that RPA solution implementation is a specialized expertise and if not done accurately, it can cost a lot to any business. You may keep adding bots to your processes but not get desired results if you don’t know what to automate and how to improve existing processes while automating them. To help you navigate the intricacies of RPA implementation and maximize its potential, we have prepared a comprehensive whitepaper.

    Whitepaper Thumbnail

    Our whitepaper offers a comprehensive perspective that highlights the lesser-known aspects of this technology. It also provides in-depth insights, practical tips and real-world examples to equip business and technology leaders with the knowledge needed to make informed decisions and execute successful RPA initiatives. Click here to access our whitepaper.