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Tag: Science & Technology

  • This Incredible Robot ‘Moves the Way People Move’

    This Incredible Robot ‘Moves the Way People Move’

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    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)


    Piaggio Fast Forward

    Who are you and what’s your business?

    Hi, I am Greg Lynn, CEO of Piaggio Fast Forward, Inc. We’re a Boston-based robotics company with the mission to build technology products that move the way people move. We build robots for real-world pedestrian environments where our machines navigate with and around people safely and intelligently with what we call “pedestrian etiquette”. We developed two robots with different sizes and payloads, Gitamini and Gitaplus, for the consumer market.

    Our robots are designed to follow individuals and families in communities throughout the United States. Common to almost all our customers are neighborhoods where daily errands related to shopping, education, sports, entertainment, and leisure are all within walking distance on modern sidewalks, but instead of by foot, these trips are being taken by private car or ride-hailing. Our technology replaces the need for car and truck trips with robots that detect, predict and follow people outdoors and indoors for a more efficient and healthier lifestyle. Our robots even detect and navigate through doors that people open and hold for them and then automatically reconnect and continue to follow as you walk through the door after them.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    Recently we have moved into business uses and sales with a focus on hospitality, retail, and building construction markets where goods are being moved frequently. Our technology augments workers, allowing them to be more efficient, safer and healthier by making fewer trips, carrying less, and staying focused on the work to be done rather than pushing and pulling materials around the job.

    What inspired you to create this business?

    Our “ah ha” moment came from decisions of what we would not do: we would not design a driverless scooter and we would not design an autonomous delivery robot. Understanding the attributes that we didn’t want in our design allowed us the freedom to create a product that aligned perfectly with our objective: human autonomy with the help of robots.

    We looked at navigation and self-driving and tried to identify the core knowledge we would need for robots that carry things where people work and live. We determined that people do not occupy places with the regulation and simplicity of roadways, warehouses or factories. Driving from point-to-point avoiding obstacles was not our first initiative. Instead, we started with building a library of algorithms of human movement and operating our robots by understanding how to detect and interact with people and also how to map and classify the built environment without the need for the creation and maintenance of detailed maps like those used in factories and roadways for self-driving cars.

    What has been your biggest challenge and how did you pivot to overcome it?

    Our biggest challenge is producing an intuitive easy-to-use device that doesn’t require any previous knowledge of robots or training. We build very sophisticated technology that operates behind the scenes but want its user interaction to be simple to operate and intuitive to understand both by users and by bystanders

    We ship our machines to consumers and businesses and our robots can operate out of the box within 20 minutes using a one-page quick start guide. We do not need expensive or complicated integration efforts and we do not have remote control operators in N.O.C. centers.

    Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur

    What advice would you give entrepreneurs about pitching?

    Explain how your product and technology can bring value immediately and how it will impact the quality of work being done or of consumer lifestyle. We combine a strategy on ROI combined with a broad view of a qualitative improvement of work and lifestyle through technology. We do not focus on replacing workers 100% whether it is replacing delivery drivers from the store to a home or the housekeeping worker in a hotel. Instead, we augment people to make an enjoyable outdoor trip to the farmer’s market and we preposition carts for the hotel cleaning team and follow them when needed so they can focus on what they are good at without worrying about pushing goods around. Whenever we are talking to a customer we are listening to their needs and finding ways to improve efficiency and quality of work. We are very focused on the human experience and making sure technology is improving rather than diminishing or eliminating the value of humanity. We are looking at robots’ potential benefits rather than their potential for disruption.

    What does the word “entrepreneur” mean to you?

    We are an entrepreneurial company because we are inventing technology that we are applying in the real world today. Our innovation is focused on market readiness in a world that doesn’t have to change for us to deploy. An entrepreneur needs to identity opportunities, often created by technological innovation, and bring them to market in the real world as fast as possible. We are currently all alone without any competitors when it comes to creating technology that interacts with people on human terms and not inside a cage. There are other sidewalk and warehouse robots, but they treat people as obstacles, very special obstacles, but obstacles nonetheless. We have observed, analyzed and defined how people move, how two people go through a door together, how people cross paths, when a person indicates they will turn a corner, even how people form and lead a convoy of things single file through obstacle. We are developing algorithms for pedestrian etiquette, so machines are acceptable and performing successfully in dense pedestrian environments. Nobody else is learning and designing what we are doing. We have signs of some competition from companies that are trying to optimize productivity in warehouses and are beginning to understand how important it is to interact with people and the dynamism of human environments but nothing that can accompany a person for 20 miles in the real world right out of the box.

    Related: Top Books All Entrepreneurs Should Read

    Is there a particular quote or saying that you use as personal motivation?

    We founded the company with a market focus on sidewalk mobility at a time when scooter sharing and food delivery were growing. We operated for almost two years without a mission statement. We assembled the entire team including our Advisors and Directors and worked to define our core competency and our mission. With very little conflict or effort, there were more than 60 people all agreeing that we were together to invent a new kind of robot, one that moves the way people move. This clarified so much. We were not building a miniature self-driving truck for the sidewalks. We were not building electric vehicles for passengers to drive. We were building robots that moved the way people moved so we can augment their activities in real-world everyday environments. It is our mission statement that is my personal motivation and it inspires me every day.

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    Entrepreneur Staff

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  • Interactive: Here are the politicians who received money from FTX’s Sam Bankman-Fried

    Interactive: Here are the politicians who received money from FTX’s Sam Bankman-Fried

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    Sam Bankman-Fried opened up his wallet to Washington in a big way during the 2022 election cycle, donating about $40 million publicly.

    So which politicians got money from the founder and former CEO of collapsed cryptocurrency exchange FTX?

    MarketWatch has compiled an interactive list below of the candidates and committees who received funds from Bankman-Fried based on the latest disclosures to the Federal Election Commission.

    Overall, he gave almost all of the $40 million to Democratic politicians or groups, and just over $200,000 to Republicans, according to the disclosures.

    In a wide-ranging interview at the New York Times Dealbook Summit last week, Bankman-Fried said donations were made to candidates who voiced support for pandemic prevention. 

    At least two Democratic senators received over $20,000 each from Bankman-Fried through joint political action committees tied to their candidacies. Those are Michigan’s Debbie Stabenow and New Hampshire’s Maggie Hassan. New York Democratic Sen. Kirsten Gillibrand got at least $10,000. Gillibrand is the co-sponsor of a crypto bill that would have the Commodity Futures Trading Commission oversee bitcoin, ether and most other digital assets and give a secondary regulatory role to the Securities and Exchange Commission.

    In the wake of FTX’s collapse, politicians have been saying they will donate or have donated the money that they received from SBF to charities or other groups, or they’re giving it back.

    Gillibrand spokesman Evan Lukaske said the senator donated her funds to Ariva Inc., a Bronx-based nonprofit that offers free financial counseling. Stabenow, whose own bill empowering the CFTC to regulate crypto was backed by Bankman-Fried, plans to donate the contributions to a local charity. A representative for Sen. Hassan did not respond to requests for comment.

    Related: ‘Bedazzled by money’: Democratic ties to Sam Bankman-Fried under scrutiny after FTX collapse

    While 50 Democratic House and Senate candidates received donations, only eight Republican Senate candidates received money from the former CEO.

    SBF — known for being a Democratic megadonor — has claimed he made contributions that don’t show up in FEC disclosures. He told video blogger Tiffany Fong that he donated as much to Republicans as he did to Democrats, but the GOP donations were “dark-money” contributions, making his claim difficult to verify. Such secret contributions, allowed by the Supreme Court’s 2010 Citizens United ruling, wouldn’t show up in the FEC disclosures used to compile MarketWatch’s list.

    Another FTX exec, Ryan Salame, became known as a Republican megadonor earlier this year, with a MarketWatch analysis in October finding that he publicly gave about $17 million to GOP groups.

    Use our interactive below to search through donations as reported to the FEC.

    Donations also filtered into committees associated with Bankman-Fried himself — Guarding Against Pandemics and GMI PAC.

    MarketWatch’s Victor Reklaitis contributed to this story.

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  • The Ultimate Guide to Succeeding With Marketing Analytics

    The Ultimate Guide to Succeeding With Marketing Analytics

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    Opinions expressed by Entrepreneur contributors are their own.

    There is no one-size-fits-all answer to the question of how to succeed in marketing analytics, as the field is constantly evolving, and the best practices for success are always changing. However, some essential tips can help you get started on the right foot and set you up for success in this exciting and ever-changing field. In this ultimate guide, we’ll define marketing analytics, review the different types of marketing analytics, discuss how to use marketing analytics to improve your business, explain what data/tools you need to succeed, and ultimately, learn how to use marketing analytics effectively.

    So, what is marketing analytics? The process consists of measuring, managing and analyzing marketing performance to optimize marketing campaigns and improve ROI. Marketing analytics can track any marketing metric, including brand awareness, website traffic, conversion rates, lead generation and sales. To succeed in marketing analytics, you must have a strong understanding of data analysis and interpretation. You also need to be able to use data-driven insights to improve your marketing strategy.

    Related: 5 of the Easiest Ways to Make Data an Integral Part of Your Business’ Digital Marketing

    The different types of marketing analytics

    There are many different types of marketing analytics, each with its advantages and disadvantages. Here is a brief overview of some of the most commonly used types:

    1. Descriptive analytics: This type of analytics focuses on understanding what has happened in the past. It can be used to identify trends and patterns and to understand why certain events occurred. However, it cannot be used to predict future events.

    2. Predictive analytics: This type of analytics uses past data to predict future events. It can identify potential risks and opportunities and decide where to allocate resources.

    3. Prescriptive analytics: This type of analytics goes beyond prediction and prescribes actions that should be taken to achieve specific goals. It can be used to optimize marketing campaigns and automate decision-making processes.

    4. Social media analytics: This type of analytics analyzes social media data to understand customer sentiment and behavior. It can be used to improve customer service and to create targeted marketing campaigns.

    5. Web analytics: This type of analytics analyzes website data to understand how users interact. It can be used to improve website design and to identify which marketing campaigns are most effective.

    How to use marketing analytics to improve your business

    Marketing analytics can help you understand how your customers respond to your marketing campaigns and identify areas where you need to adjust your strategy. It can also help you track the progress of your marketing efforts over time to see whether they’re achieving their goals. There are a few things that you need to take into account when using marketing analytics:

    • It’s best to understand your customers’ needs and wants clearly.

    • You need to know what kind of message will most likely reach them and why.

    • You’ll want to track which elements of your campaign are working best and which ones aren’t.

    • You need to determine what changes (if any) you should make to improve results.

    • You need to be able to act on the findings promptly so that you don’t lose momentum or hit a plateau in your campaign.

    Overall, marketing analytics is essential for any business looking to improve its performance. Using this information, you can better target your marketing campaigns and boost sales figures accordingly.

    Related: 5 Analytics Tools to Supercharge Your Marketing Strategy

    Types of data you need to track in order to succeed with marketing analytics

    Before you can start tracking your marketing data, you need to know what kind of data you need to collect. There are a few different types of data that are essential for effective marketing analytics:

    • Demographic data: This includes information about your customers’ age, sex, income, etc. Understanding your target audience and creating tailored campaigns that appeal to them is essential.

    • Qualitative data: Qualitative research captures user feedback and opinion to better understand customer attitudes and preferences. This information is especially useful in creating new products or services.

    • Quantitative data: Quantitative research measures the performance of your campaigns using numerical measurements like clicks or conversions. This information can improve your campaigns and help you make informed decisions about the best ones.

    You can track this data in several ways, but the most reliable method is using a tool like Google Analytics or Mixpanel. These tools allow you to easily collect and store all your data in one place to access it whenever you need it.

    The tools and software that can help you achieve your goals with marketing analytics

    If you’re new to marketing analytics, the first step is to determine your needs. Are you looking for insights into how your campaigns are performing? Do you want to track customer behavior over time? Are you looking for ways to optimize your content or advertising? Once you know what you need, the next step is to find the right tool or software for the job. There are several different options available, and choosing the one that will fit your specific needs is essential.

    Some popular marketing analytics tools include reporting tools like Google Analytics and ClickStream, web tracking tools like CrazyEgg, social media analysis platforms like Mixpanel and email tracking tools like GetResponse. There’s also a wealth of software specifically designed for marketing professionals, such as Salesforce Marketing Cloud and HubSpot CRM. However, it’s important to note that not all of these programs are perfect for every business; testing out different options is essential to see which one suits your needs best.

    Related: To Better Understand Your Users, Learn About These 4 Categories of Marketing Analytics Tools

    Tips for using marketing analytics effectively

    Here are a few tips for using marketing analytics effectively:

    • Measure everything: Start by measuring the most important things to you, and then add more metrics as you realize how valuable they are. By tracking multiple channels and data points, you’ll get a complete picture of how your campaigns are performing.

    • Use data visualization tools: Seeing data in a way that’s easy to understand will help you make better decisions about where to focus your efforts. Some popular data visualization tools include Tableau Public and Google Sheets.

    • Compare and contrast results: Once you’ve gathered some data, it’s essential to compare it against previous versions of the same campaign or product. This will help you identify any changes or improvements you may have made and areas where further improvement is needed.

    • Don’t be afraid to experiment: If a marketing strategy isn’t working as intended, don’t be scared to try something new. However, ensure that you test the new approach in a limited way to monitor its performance closely.

    Marketing is one of the most important aspects of running a business, and if done right, can lead to exponential growth for your business. Once you better understand the field and its needs, you can put your best foot forward and optimize marketing campaigns to boost ROI.

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    Piyanka Jain

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  • How Telematics Will Improve the Efficiency of Transportation and Logistics in the Coming Years

    How Telematics Will Improve the Efficiency of Transportation and Logistics in the Coming Years

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    Opinions expressed by Entrepreneur contributors are their own.

    Transportation and logistics operations are in a brittle, fast-changing business landscape. Logistics is all about ensuring accuracy, transparency and timely services today. The Covid-19 crisis demanded logistics companies gain overall visibility, flexibility and agility despite the industry’s growing complexity, and Brexit has added a new set of challenges.

    It is no longer a secret that customers expect more, and with rising customer demands, fleet companies need to be flexible and innovative. Digital solutions like telematics help them meet those needs, extend beyond traditional approaches and be prepared to deploy futuristic concepts.

    Related: How Telematics Has Completely Revolutionized the Management of Fleet Vehicles

    Telematics combines telecommunications and informatics to unlock critical insights that help logistics and fleet companies make strategic decisions, address multiple fleet management challenges and boost fleet efficiency. Hence, logistics businesses worldwide are investing in telematics solutions and making fleets interconnected like never before. McKinsey estimates that data shared through telematics will be worth $750 trillion by 2030.

    However, telematics has advanced over the years and shifted from collecting data about vehicles to analyzing data about drivers. Emerging technologies like artificial intelligence, IoT and advanced analytics have facilitated telematics to unleash previously impossible applications and leverage the benefits of real-time data transmission.

    Then, what is the future? Undoubtedly, telematics is here to stay, making the future of logistics and telematics digital-driven. In fact, connectivity and convenience will rule the coming years, fostering on-demand and flexible logistics. And here, technology will be the biggest driver.

    IoT and blockchain

    Thanks to the Internet of Things (IoT), everything is connected. IoT sensors and connected solutions are already helping logistics companies to intelligently combine the physical world with the digital world and simplify the unbending world of logistics, bolstering visibility and efficiency. Intelligent logistics networks are looming, enabling fleet companies to trace and ensure reliable operations.

    IoT will enable more intelligent connectivity and share information about product conditions, whereabouts and goods management. When fleet managers can remotely know the exact temperature in trailers, they can ensure safer and more efficient deliveries, mitigating the risk and costs associated with dead stock. Timely decision-making insights can go a long way to maintaining broad margins.

    IoT combined with blockchain will provide greater transparency. Distributed ledger technologies will allow every party in the supply chain to track goods and entirely rely on the data’s accuracy. The peer-to-peer technology of blockchain will coordinate deliveries to vehicles directly and automatically without any human intervention. Everybody could see and analyze each movement and activity, identify improvements and action them now (and rapidly). Over time, we can also expect IoT devices to be smaller and easily accessible.

    Related: Why the Internet of Things is Taking Over the Markets

    5G

    Providing a connection intensity of 1 million connections/km2, 5G is set to disrupt the world with super-fast internet speed. With a ten times quicker speed than 4G, 5G will enforce Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I) and Vehicle-to-Everything (V2X) applications. Vehicles will share information, understand infrastructure signals and encompass knowledge of cyclists and pedestrians without going through the network. And with a response time of less than a millisecond, we will witness vehicles perpetually talking to each other like in-person human conversations.

    Fleet and logistics companies can improve safety, operate on transparent data and improve fleet management with such robust network capabilities. Besides, 5G can be the wave-maker for trailblazing innovations like augmented reality fleet applications.

    Digital twins

    Indeed, 5G promises lower latency, impeccable bandwidth and faster communication, implying that we need robust telematics systems to handle such a surge of data, quickly analyze data in real time and make the most out of valuable data sources. “Real-time digital twins” — a new software technique — provides the necessary evolution in the existing telematics software for streaming analytics.

    Rather than processing incoming telemetry through delayed batched analysis, digital twins do it as data rolls in. It simply creates a twin of each physical data source and studies inbound insights from that particular data source. Here, data sources are vehicles, drivers or containers. So, each digital twin holds critical detailed information about its corresponding data source, assists in evaluating incoming information and effectively updates the specific data source’s knowledge. With such on-the-spot information from digital twins, fleet admins can make the most rational decision on anything that requires immediate attention.

    Typically, delayed batch analysis can take hours to aggregate and analyze incoming data, but real-time digital twins taper the entire process to seconds and empower better situational awareness. Additionally, digital twins can use the 5G network to send back signals to the vehicle and elevate dual-communication capabilities. For example, using machine learning algorithms, digital twins can catch sight of an imminent vehicle equipment failure and alert drivers immediately.

    And as these digital twins operate on in-memory, scalable computing systems, logistics businesses can easily manage increased data sources with growing fleet size by injecting more digital twins. Due to logistics’ complex nature, digital twins will aid telematics to keep the fleet’s challenges under the thumb.

    Related: Why Blockchain and Digital Twins Are Good Partners

    Mobility as a Service (MaaS)

    A fair and responsible logistics system will play an essential part in fleet management strategy and work towards a safer, cleaner future for all. With the introduction of Clean Air Zones (CAZs) and Ultra Low Emission Zone (ULEZ), transportation and logistics need to shift to a supply chain that does not harm the environment and evolve into a greener and more sustainable mobility. Thereupon, fleet businesses will have to follow a market-responsive, demand-driven supply chain model, and MaaS will become dominant.

    Integrating various modes of transport services into a single mobility service available on demand, MaaS will allow logistics to move from one point to another on time and cost-efficiently. But when integrated with telematics, MaaS can unify a range of operations from mobility planning to asset management. Instead of handling a few physical assets within the company, fleet owners can manage mobility for all assets across numerous companies.

    MaaS enables fleet businesses to naturally scale efficiently and leverage the economic benefits of sharing vehicles with other companies by using existing facilities and a labor force. In reality, logistics will focus on vehicle usage rather than vehicle ownership. The environmental impact will directly be linked with the company’s failure and success, making reverse logistics critical and changing the linear supply chain to circular.

    The future will be defined by how well logistics can focus on deploying technologies onto their existing systems. Evolution will take place from siloed reactive operations to forethoughtful thinking to meet the rising demands of delivering goods in a personalized and purposeful way. Increased connected solutions will foster logistics companies to work across the ecosystem, making cross-border collaboration the new normal. So, telematics and logistics will unfollow being cheaper and efficient but rather be intelligent and personalized.

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    Ekim Saribardak

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  • How to Give Customers the Digital Experience They Crave

    How to Give Customers the Digital Experience They Crave

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    Opinions expressed by Entrepreneur contributors are their own.

    The discrepancy between the quality of digital experiences customers report and what businesses believe they are delivering online is proving to be more significant than previously thought.

    Only 10% of global customers agree that brands provide a good digital experience, while 82% of marketers believe they are meeting customer experience (CX) expectations. This abysmal statistic serves as a call to action for businesses everywhere — they must prioritize and optimize their online customer experience to meet customer expectations or risk revenue losses and a damaged reputation.

    Anticipating what customers want out of their digital experience through rigorous analysis can have a significant impact on a brand’s success. By adopting best practices, strategies and tooling, businesses across industries can close the gap between what they think they are delivering and what customers report experiencing.

    Related: What Customers Expect Out of Their Digital Experience

    Digital experience makes or breaks a brand

    The digital experience is essential to a company’s profitability and longevity, yet customers feel as though their expectations are not being met on digital platforms. A total of 54% of U.S. customers say the user experience (UX) of brand websites needs improvement. Brands must listen to customers and understand all issues within digital experiences, taking swift steps to address points of friction.

    Responding to problems as they arise is crucial, but it is just as important to be proactive when developing digital experiences. Brands must work to anticipate customer needs and design platforms with evolving customer preferences in mind.

    Eliminating company blindspots through CX enhancements

    Every company has blind spots — business leaders do not understand customers’ wants and needs, so they invest in the wrong areas. Knowing exactly where customers are experiencing pain points instead of guessing is key to delivering a better CX. Executives must take steps to investigate and close this “digital experience gap.”

    Using tools to surface hidden problem areas provides an opportunity to rectify them — giving customers a reason to come back and stay loyal to one’s brand and website. A recent Emplfi study broke down several key areas where customers experience the biggest pain points:

    • Nearly 20% of customers will abandon a website after just one bad experience.
    • Having a previous positive experience with a brand influences where they make a new purchase.
    • Half of customers will abandon a brand they have been loyal to for over a year due to poor CX.
    • Poor CX and low-quality products are equally harmful to a brand.
    • The main contributors to a negative CX are slow response times and a lack of 24/7 customer service. Customers expect a response within an hour.
    • Customers across the board want access to self-service options to resolve issues independently.

    All it takes is one wrong move for a customer to abandon goodwill toward a brand. Companies are increasingly relying on modern digital tools to help identify sources of customer frustrations and mitigate site abandonment.

    Related: 5 Ways to Show Your Customers You Understand Them in a Digital-First World

    Proven strategies to tackle problem CX areas

    A total of 86% of customers say that they are ready to pay more for a better customer experience, making digital experience improvements a revenue-driving opportunity. Implementing technology that can help businesses anticipate customer needs and respond to user issues in real time can lead to increased conversions and enhanced efficiency. Proven strategies include:

    • Leverage AI: Implementing an AI-driven digital experience analytics platform enables businesses to proactively identify and resolve problems surfaced through customer feedback and interactions data.
    • Prioritize a self-service model: Customers expect immediate answers to any issues they may encounter without having to deal with customer service representatives. Incorporating a chatbot, dynamic FAQs and semantic search engines help customers find their answers with ease.
    • Individualization: An individualized digital experience for each customer is essential, as nearly three-quarters of customers expect personalized interactions. Furthermore, 76% are frustrated when personal interactions aren’t delivered.

    The power of data and analytics

    Businesses cannot close the digital experience gap and meet their customers’ expectations if they do not have a thorough understanding of how customers are navigating their digital platforms. To achieve that understanding, they can integrate analytics solutions such as a Digital Experience Intelligence (DXI) platform to capture and analyze 100% of customer interactions across channels.

    As a DXI platform serves as a single source of truth, the analyses can be used by various teams, helping businesses prioritize and quickly make data-driven decisions about customer experience improvements. Teams are immediately alerted to technical issues on a brand’s website or mobile app so they can be solved before significantly impacting revenue or the customer experience, ensuring a frictionless journey.

    Related: 3 Tips for Using Consumer Data to Create More Personalized Experiences

    Improve digital experiences now for the future

    It has never been more important to close the digital experience gap. The customer journey is invaluable; maintaining an exceptional digital experience requires teams to work diligently behind the scenes to tackle any possible issues before they escalate.

    Implementing strategies that prioritize anticipating and meeting customer needs ensures long-term brand success. Through best practices, businesses across industries will soon deliver the quality experience customers say has been missing from their digital journeys.

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    Asim Zaheer

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  • The Internet of Things Might Not Be Doomed, Here’s Why

    The Internet of Things Might Not Be Doomed, Here’s Why

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    Opinions expressed by Entrepreneur contributors are their own.

    Just a few years ago, the Internet of Things (IoT) was the talk of the town. The promise of an interconnected web of objects equipped with sensors of all stripes that would communicate with each other in a way hitherto only envisioned in science fiction was seen as imminent.

    Startups sprung up left, right, and center, and segments flooded the airwaves about new smart cities, like Saudi Arabia’s sci-fi-inspired project, Neom. That reality has still not panned out, and it still seems distant. Some have written off IoT and almost thrown it in the dustbin of history along with other defunct technologies that didn’t deliver on their promises.

    One of the challenges IoT faces is that it depends on a very high level of high tech to be deployed in many places. A smart system that recognizes a light bulb needs fixing will require some sensor that communicates with each light bulb.

    You can’t just plug devices into a “‘smart solution” and suddenly expect a technological nirvana to unfurl. In an incredibly technologically heterogeneous world covered with both high and low tech, you need integrative technological solutions, which are still rather limited.

    Related: Is Your Business Ready for the Internet of Things?

    The world can, however, integrate existing solutions much better. Positioning systems, cybersecurity systems, and physical security systems already exist. Most necessities are on the grid, and everyone is online. We can put together the tremendous technological tools already at our disposal by utilizing integrated technologies and get a long way toward IoT’s promised land.

    Some creative ways exist to bridge the need to equip the world with sensors. Elon Musk realized this when he argued that self-driving cars do not need to be equipped with radar. Instead, they can rely on sight just like humans and still possess superhuman driving skills. We, humans, use sight to identify objects, events and threats at a distance from us. There is no reason why machines could not utilize vision as adeptly.

    Computer vision extends far beyond the novel wonders of self-driving cars, possibly even into every little thing about our lives. Data-annotation service provider Keymakr, for example, recently joined forces with SeeChange to leverage AI to reduce the number of times shoppers and employees slip, trip, or fall in brick-and-mortar stores. The AI identifies and notifies employees of liquid spills in fall-risk areas.

    Computer vision in this scenario prevents stores from having to equip the floor with additional sensors to detect if it’s slippery, instead using cameras already in place. Imagine the boundless other applications for such technology, ranging from predictive maintenance to reshaped hospitality with automated services or a new level of proactive and personalized remote healthcare. The potential applications are bound only by our imagination.

    We will have to address the issue of security, considering by now, we have the experience to know that almost every device is hackable. Connecting all the world’s devices poses brand-new security risks. We all read about exposed personal data hourly and experience too many technological failures daily. Are we ready to trust a vast network of integrated electronic devices to run the world smoothly and safely?

    After all, IoT devices run on software susceptible to many vulnerabilities that can be exploited. As more and more devices become connected to the internet, we will face an increased risk of hackers accessing data gold mines from massive networks that were previously much more challenging to target. They’ll do so by attacking less secure IoT devices connected to that network.

    Focussing on individual vulnerabilities, however, won’t yield the most effective security outcomes. Instead, it results in a much more costly, computerized version of whack-a-mole where the security professionals run after vulnerabilities to patch them up one by one.

    By taking a holistic approach to the security of IoT devices, cybersecurity company Sternum IoT builds itself into the system’s firmware to ensure the code can’t be tweaked. Simply put, even if a malicious attacker could hack into the device, they would be barred from actually performing any of the functions that inflict harm.

    We need more proactive takes on IoT security to ensure companies can come out ahead instead of playing catch-up with hackers and constant costly vulnerability patching, as security is usually performed today.

    IoTs’ promise to truly connect us and technology in a new way is similar to what’s happening with self-driving cars. We heard all about it constantly for a period, and one could be forgiven for thinking we’d all be driven around by machines by 2023.

    While the technology is still not ubiquitous, it is advancing quite nicely. Think how much of the driving experience is already automated compared to just a few years ago. Cruise control, automated lane adjustments, and collision aversion technologies are only a few of the dozens of automated features.

    Related: How Cloud Agnostic Hardware Could be The Future of IoT

    With access to low-cost, low-power sensors, new levels of connectivity, cloud computing platforms, machine learning and analytics, IoT is already combining state-of-the-art technology into something new and exciting. It is certain that IoT will grow and that technologists will do well by staying ahead of the curve. But it remains to be seen how fast and for how long that growth will continue. It might just be that IoT is still like the sleeping giant which will move the world when it wakes up.

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    Ariel Shapira

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  • All the Cloud Storage You Need Is on Sale for the Holidays

    All the Cloud Storage You Need Is on Sale for the Holidays

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    Opinions expressed by Entrepreneur contributors are their own.

    You’re always juggling a lot as an entrepreneur, one thing you shouldn’t have to worry about is if your devices are going to run out of space. Cloud storage is a simple, intuitive solution to all of your personal and professional data storage needs. But it’s not always exactly budget-friendly.


    Koofr

    Right now, however, it is. During our Last Chance Shipping promotion, you can save an extra 20% off Koofr Cloud Storage and get 1TB of cloud storage for life, available instantly.

    Koofr is a private and simple cloud storage service that you can access via web, mobile, and WebDav. It claims to be the only web service that doesn’t track you and makes life convenient by connecting your existing cloud accounts on Dropbox, Google Drive, Amazon, and OneDrive to seamlessly manage all of your files in a single place. You can upload, access, and share files without size limits with the peace of mind of knowing that all files are encrypted in rest and in transfer, keeping them completely secure, the company says.

    Koofr also gives you a set of tools to clean up and organize your data. You can find and remove duplicate files with the Duplicate Finder, rename multiple files at once with the advanced renaming option, and customize link appearances so you can find important files quickly.

    Koofr has earned 4.6/5 stars on G2, GetApp, and Capterra, and 4.3/5 stars on Trustpilot because it’s one of the most reliable and trustworthy names in the cloud storage business.

    This year give (or get) a gift that doesn’t have to ship. For a limited time, you can get a lifetime subscription to 1TB of Koofr Cloud Storage for an extra 20% off at just $111.99 (reg. $2,700) when you use promo code KOOFR at checkout.

    Prices subject to change.

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  • Deal of the Day: This Wireless Charger Can Help Clean Up Your Desk

    Deal of the Day: This Wireless Charger Can Help Clean Up Your Desk

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    Opinions expressed by Entrepreneur contributors are their own.

    Just because Black Friday and Cyber Monday are behind us doesn’t mean you can’t still capitalize on the biggest savings time of year. In fact, if you’re looking to upgrade your home office, the next 48 hours present a great opportunity because the MagStack Foldable 3-in-1 Wireless Charging Station with Floating Stand is on sale for 42% off as our December Deal of the Day. All December, we’re dropping prices on best-selling products — but only for a very limited time. You can only get this deal for 24 hours, and then it’s back up to the regular price.


    StackCommerce

    MagStack is a clever modular wireless charging station that works well on your desk and easily packs up with you to charge your devices absolutely anywhere. With three wireless charging spots, you can charge three devices simultaneously, including an iPhone, Apple Watch, AirPods, or any other Qi-compatible phone or earbuds. When you’re done charging multiple devices, the foldable design lets you break it down into a single wallet-sized stack to charge a single device or slip in your pocket to take to your next destination.

    Like the name suggests, the MagStack is MagSafe compatible, making it usable with the iPhone 12 Series with Magnetic Auto-Alignment. It also comes with a MagSafe metal ring so you can adapt non-MagSafe phone cases or phones with Qi wireless charging capabilities to work with magnetic wireless charging. It can charge Apple Watch Series 1 to 6, and is Qi-compatible with up to 15W of power. The space-saving design will reduce the cable clutter on your desk while the convertible nature lets you turn it into a floating stand to watch your smartphone in landscape mode if you need.

    Clean up your desk with one simple tool. Now through December 6, you can get the MagStack Foldable 3-in-1 Wireless Charging Station with Floating Stand for just $39.99 (reg. $69) as our December Deal of the Day.

    Prices subject to change.

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  • Get Rid of Your Siri Remote Once and for All This Year

    Get Rid of Your Siri Remote Once and for All This Year

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    Entrepreneurs work hard, you owe it to yourself to have a little relaxation time this holiday season. A great way to do that is to kick back and relax with a great show. But if you’re an Apple TV user, it might not just be your work schedule that’s keeping you from enjoying your favorite shows and movies. It might be that annoying controller, too.


    Function101

    This year, do yourself (or your favorite Apple TV user) a favor. The Function101 Button Remote for Apple TV/Apple TV 4K makes a perfect stocking stuffer for anybody who enjoys Apple TV but absolutely loathes the hyper-sensitive, non-intuitive Siri remote.

    This infrared remote is designed to be more like a classic remote control that people are used to. With the clear buttons, you’ll be able to navigate Apple TV with ease. There’s an obvious D-pad, volume and page controls, stop, start, fast forward, rewind, and more buttons that are clearly delineated for all.

    The Function101 works with all Apple TV types and is compatible with most TV sets, too. You can synchronize it with your TV in a matter of seconds, letting you take complete control of the power, volume, and mute functions. It has a range of up to 12 meters, so you can sit back and enjoy. There’s no voice function, but you may prefer it that way anyway.

    Whether you’re desperate to get rid of your Siri remote or you’re thinking of stocking stuffers for people on your list, the Function101 Button Remote for Apple TV/Apple TV 4K is a great gift for your favorite TV watcher. Right now, you can get it for $5 off $29.95 at just $24.95 when you use code BUTTON5 at checkout.

    Prices subject to change.

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  • This Top-Rated PDF Solution Is 66% Off Now

    This Top-Rated PDF Solution Is 66% Off Now

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    Opinions expressed by Entrepreneur contributors are their own.

    Paper has made its way largely out of business, but that doesn’t mean you don’t still work with documents regularly. Instead, we’re just working with them differently: with the dreaded PDF. These static files can be great if you’re positive that a document is ready, but a serious nightmare when you have to make changes. When you’re working with a lot of PDFs, you need a quality digital solution.


    Superace

    We’ve got a deal you’ll like. For a limited time, you can get a lifetime subscription to UPDF Pro for 66% off.

    UPDF Pro is one of the top-rated PDF solutions on the market. Geeky Gadget writes, “UPDF is a potent PDF editor and PDF converter designed to stay up with advanced technologies. It ensures that whichever features you use are up to date. UPDF not only converts PDF to Word but can perform many advanced editing.” Fossbytes adds, “UPDF doesn’t have a boring interface like other PDF software. The design is stunning and eye-catching. On top of it, it is convenient to use. You wouldn’t be bothered with a complex design that is very time-consuming.”

    These are just the tip of the iceberg of positive reviews for this all-in-one PDF solution for individuals and businesses. With it, you can edit any PDF document across Windows, Mac, iOS, and Android devices, adding or deleting text, editing fonts and color, and much more. The tool allows you to add, crop, rotate, replace, extract or delete images, watermark documents, and password-protect them for elevated confidentiality. You can also easily annotate PDFs, highlight, underline, or strike out text, add shapes and notes, and much more. Finally, it’s even easy to convert any PDF to Word, Excel, PowerPoint, and a ton of other file types in just a click.

    Working with PDFs has never been easier than with a lifetime subscription to UPDF Pro. Grab it on sale for 66% off $149 at just $49.99, the best price you’ll find online.

    Prices subject to change.

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  • Today Only: Get a 4K Camera Drone for Just $80

    Today Only: Get a 4K Camera Drone for Just $80

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    Opinions expressed by Entrepreneur contributors are their own.

    Black Friday and Cyber Monday is a great time to gear up on tech that would normally be prohibitively expensive. While those days are in the past, we’re keeping savings available throughout the holiday season with our special December Deals of the Day. All December, we’re dropping prices on best-sellers for 24 to 48 hours only so you can lock in outstanding savings if you act fast.


    StackCommerce

    For instance, if you’re interested in aerial photography, it’s time to jump on this 24-hour-only deal on the Ninja Dragon Alpha Z PRO 4K Wide Angle Dual Camera Drone.

    This powerful drone has a 4K wide-angle camera with 90º adjustment on the front and a 720p camera on the bottom so you can capture the entire picture in a single image. An undistorted lens and remote control of the aerial angle, you’ll have a custom photography experience, all while you use the companion app to enjoy a real-time flight.

    The Ninja Dragon is suitable for pilots of all skill levels. Headless mode makes it easier to fly without worrying about which way is forward or back, while the four channel controls and six-axis gyroscope support smooth flying whether you’re ascending, descending, moving forward, backward, or side-to-side, or even performing 360º rolls. If you want to capture footage of events unfolding below you, the altitude hold mode stabilizes the drone’s flight while you record. And when you’re done flying, one-key automatic return makes it safe and easy for the drone to land itself back where you started your flight from so you don’t have to worry about landing it.

    This December Deal of the Day won’t last long, so grab it while it does! For 24 hours only, you can get the Ninja Dragon Alpha Z PRO 4K Wide Angle Dual Camera Drone for just $79.99 (reg. $199).

    Prices subject to change.

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  • Software Development Jobs Are a Bright Spot in Uncertain Economic Times. Here’s What Business Leaders Need to Know.

    Software Development Jobs Are a Bright Spot in Uncertain Economic Times. Here’s What Business Leaders Need to Know.

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    Opinions expressed by Entrepreneur contributors are their own.

    Economic uncertainty, rising inflation, changing lifestyles and a volatile labor market are unprecedentedly influencing company hiring and prospective IT job markets. Businesses are intensifying recruitment in critical areas, such as AI and data analytics, yet pulling back on long-term IT positions and employment. At the same time, rising IT talent is pursuing more flexible and engaging work environments as new opportunities open up and desirable lifestyle options evolve.

    Software developers, data analysts and cybersecurity jobs are bright spots in a rapidly moving IT employment landscape. According to a recent report by the U.S. Bureau of Labor Statistics, software developer jobs were projected to grow by 21% by 2028, the fastest-growing sector of the national job market. Year over year, job postings for software developers and coders approximately doubled in the third quarter of 2022, while other computer-related and IT job-skill categories increased more modestly. Most non-digital economy job postings remained steady or declined. Getting on top of the changes in job growth patterns and required skill sets within the IT sector is essential for business leaders as a possible recession looms.

    Related: The Future of Software Development in 2022 and Beyond

    Software development trends

    New software development trends are accelerating as businesses and organizations recognize the strategic importance of IT and prioritize digital transformation and innovation. Consumers are moving online in record numbers, and companies are increasing digital channels and products to accommodate skyrocketing demand. Changes in supply chains, cloud and remote working environments along with technology tipping points drive strategic IT investments and personnel needs. Flexibility, scalability and security remain popular software features as businesses search for unique and efficient solutions across their operations.

    Forward-looking businesses seeking IT innovation are moving swiftly to leverage AI, cloud computing and data science applications. Some managers look outside their organizations to kick-start change. This trend fits neatly with the rise of a growing pool of freelance talent with niche skills available to spearhead specific project-based initiatives. Companies manage innovation challenges and IT infrastructure investment amid active personnel and the job market.

    Job specialization … or generalization?

    Do new market realities affect the answer to this age-old question? The debate continues in the IT field and across the digital economy and career spectrum. For computer scientists and software engineers, generalization means understanding core concepts and principles and having transferable skills to work with multiple languages and documentation. Specialization has come to mean a deep but relatively narrow focus on one language, framework, and platform. Freelance software developers often find specialization an efficient way to engage the market but then see the logic of a broader perspective as their career develops. Businesses tend to promote generalists in the longer term and more permanent positions.

    A successful software developer’s career strategy is to build a generalist foundation of computer and data science concepts and then specialize in one or two hot areas. The IEEE Computer Science Society’s computer science career guide recommends a set of academic courses covering core topics, such as computer theory and systems, security, and engineering concepts. Students are then encouraged to consider specialty areas in later years and at the graduate level. Successful business leaders recognize this pattern and provide opportunities to students in work placement and employee career development initiatives. Historical trends in the digital economy would seem to favor specialists until the market swings and a new technology moves to the fore. The challenge is to understand where the market is going and anticipate change.

    Related: How AI Will Transform Software Development

    Specializations for the future

    Machine learning software developer and data scientist skills top the list of high-demand software development talent and are two of the hottest growth areas. Business leaders increasingly view AI as indispensable in multiple business areas, including supply chain logistics and transportation, finance and natural language processing. Machine learning augmented software development is an exciting case — will AI decrease the demand for software engineers in the future? Mainstream AI applications today are limited to testing code and automating routine programming sequences. Still, an advancing wave of AI experts is bringing fresh ideas and a new set of robust machine-learning tools. In the meantime, most observers expect human software engineers to remain an essential piece of the puzzle for years to come.

    The position of data scientist — a job title first used in 2008 — has gained prominence and will continue to expand in breadth and scope as businesses increasingly grapple with overwhelming data volumes and a pressing need for data-driven forecasts and predictions. Databases show no signs of slowing down. Talented data analysts and emerging AI tools provide the insights and interpretations to capitalize on all kinds of ever-growing mountains of data. Data scientists often operate in interdisciplinary teams and draw upon a robust set of complementary soft skills, including critical thinking, communications, leadership and more.

    Recognize the pattern, and get on board

    Consumer and work lifestyle choices, influential macroeconomic trends, and strategic business needs drive IT innovation and investment. Organizations and companies in virtually every economic sector are embracing rapid digital transformation and tech-smart solutions. Software development has rarely been more complex, more urgent or more in need of creative and motivated talent. Many companies are looking for an evolving mix of permanent IT staff, freelance software developers, generalists and specialists to provide crucial business solutions. The go-to hot software development areas are machine learning, data science and robust AI specialist tools. Organizations seek a competitive edge to solve seemingly intractable issues, such as supply chain bottlenecks. Are you thinking of a career in software development? The future is very bright indeed.

    Related: Hiring the Modern Programmer: Does That Smart New Software Developer of Yours Also Have ‘Soft’ Skills?

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    Steve Taplin

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  • Here’s How Your Business Can Stop Fraud in Its Tracks

    Here’s How Your Business Can Stop Fraud in Its Tracks

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    Opinions expressed by Entrepreneur contributors are their own.

    For some businesses, fraud is nothing more than an accepted expense casually factored into the company’s bottom line. But for those who understand the true threat, fraud is a risk that must be prevented and stopped at all costs. We’ve become so accustomed to fraud’s existence that it now, unfortunately, seems like a fact of life. It doesn’t have to be this way, but preventing fraud requires a paradigm shift. It requires knowing your customer (KYC) and adopting practices that many companies have shied away from for years. Fraud will keep increasing until the business world embraces prevention from the first stages of customer interaction.

    Fraud is a business problem

    The internet has made fraud easy. Covid-19 made it even easier, with more businesses moving their workflows to digital platforms. Unfortunately, without a subsequent improvement in security practices, this digitalization exponentially increased the attack surface area for fraudsters worldwide who won’t hesitate to seize the advantage. According to LexisNexis, there was a 19.8% increase in fraud costs from 2019 to 2022.

    Fraud costs are a real problem for businesses. Of course, individuals bear the cost of fraud as well, but companies see a significant impact on their bottom line. Each $1 of fraud, according to the same LexisNexis study, costs eCommerce merchants in America an actual $3.75 once the response is all said and done. All told, fraudsters were able to steal about $28 billion in 2021 alone through identity fraud. Our current economic downturn means fraudsters will be more, not less, bold in their attacks.

    Clearly, fraud is more than a pesky issue. Not only does it cost both businesses and customers vast amounts of money, but it can also lead to significant damage to a brand. Businesses risk losing customers’ trust if they don’t appear to be tackling the issue and keeping their customers safe. This problem is incumbent upon companies to solve. However, it’s not as hard as we might think.

    Related: Why Verifying User Identities Is a Good Thing For Your Customers and Your Business

    Most fraud starts (and ends) with identity

    Most scams start at account creation, where a fraudster impersonates a real person or creates a fake persona to carry out fraudulent activity. KYC has historically consisted of methods like human-based document verification, SSN, knowledge-based authentication (KBA), as well as other database information to identify a person is who they are claiming to be by what they know about the individual. This might have worked 20 years ago, but the traditional methods we have been accustomed to are not cutting it anymore. Too much personal information is available online, and fraudsters can usually find the answers to security questions through data dumps or trolling a victim’s social media. Luckily, the solution already exists, using widely-accepted tools and stopping identity fraud at the source — account creation.

    Strong KYC practices at onboarding have often been avoided because of the misconception that they create too much friction for users. Truthfully, the tools are in place to make this a frictionless transaction. All the customer needs to do at the onset is capture their government-issued ID and then take a selfie. Such a small step can significantly reduce problems later on by creating an environment where fraud is prevented from the outset. It also sets the stage for frictionless continued fraud prevention using the selfie biometric for ongoing re-authentication.

    The secret behind strong, ongoing KYC

    Strong onboarding practices create a highly effective and streamlined re-authentication process for subsequent transactions with a customer. As the customer continues to interact with a business, it can use advanced analytics to build a baseline of behavior to assess risk levels dynamically. All the customer sees is the occasional request for a selfie, which then is compared with multiple other data points to verify a person’s identity.

    Another term for this practice is multi-factor authentication (MFA). That’s lazily been construed as “security measures” like SMS-based one-time passcodes. Unfortunately, while such added security measures are standard in business, they’re among the easiest MFA methods to break — a thief can intercept an SMS-based code for as little as $16.

    That doesn’t mean MFA needs to be completely thrown out. The concept is based in fact: The most secure identity verification consists of a combination of something you are, something you know and something you have. The hardest to spoof is something you are: biometrics. These include fingerprints, facial scans, voice recognition and retina scans (among many others). Today’s modern biometrics proofing is quickly approaching 100% accuracy.

    Incorporating these security measures also creates much stronger assurances for the company, since friendly fraud is a big problem. With facial recognition integrated into the account management process, companies now have time-stamped, verified proof that a person did make that purchase. With some simple tweaks to identity verification, businesses could save over $48 billion per year in fraudulent chargebacks.

    Related: The Technologies Consumers Can Use to Combat Fraud

    Active monitoring — the key to continued success

    The journey doesn’t stop at biometrics, though. A robust orchestration layer is needed to organize the tiny pieces of data spread across the internet into a comprehensive picture of each unique customer. This behind-the-scenes work can help monitor the KYC fundamentals to vet for fraud continuously.

    Orchestration and active monitoring also help keep the good customers while weeding out (or even preventing from the start) the customers you’d rather not do business with. Using a trusted vendor to execute these third-party identity verification actions, on top of the original and ongoing verification methods maintained in-house, helps businesses with underwriting. You can also assess risk in real-time; if a customer is usually in California but trying to sign in from Russia, you’re better able to catch the fraud and stop it in its tracks.

    Related: The Solution to Preventing Identity Theft in an Increasingly Digital World

    Simple KBA methods alone can’t keep up with advanced identity fraud techniques. Unfortunately, many companies equate better identity proofing with a worsened customer experience, but in reality, fraud prevention can enhance interactions and even streamline workflows for businesses and customers alike. Businesses can have their cake and eat it, too, by incorporating better identity verification from the start of the customer’s journey, along with biometric-based MFA and continuous, active monitoring. Our customers deserve it, and it will take a big bite out of the global identity fraud game.

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    Clayton Roth

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  • How Businesses Can Combat Fraud and Increase Efficiency

    How Businesses Can Combat Fraud and Increase Efficiency

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    “There is no kind of dishonesty into which otherwise good people more easily and frequently fall than that of defrauding the government.”

    These words of wisdom from Benjamin Franklin have, unfortunately, proven timeless. People have been defrauding the government for centuries, but last month, the US hit an estimated $45 billion in COVID-19-related unemployment fraud. Now the government starts the long, costly and inefficient process of recouping the money, conducting investigations and punishing those responsible. This process is often called the “pay and chase” model.

    With all that fraud, it can be challenging for government agencies and private companies to separate the wheat from the chaff (or, in this case, the fraud from the noise). For example, is a person calling your call center with a device you haven’t seen before actually an existing customer with a new phone or someone attempting to take over an account?

    These issues create room for inefficiencies and cost companies huge operational sums when they cannot tell the difference. But, going too heavy with stricter verification that may dampen the customer experience is also something you have to avoid. The good news is it’s possible to identify fraudulent activity with modern technology better and thus increase efficiency.

    Related: The Government Is Not Immune to Account-Takeover Fraud, and That Could Be Trouble for You and Me

    Modern fraud and its noisy neighbor

    At its core, the focus of fraudsters has remained on tricking people into giving access to as much money or data as possible. It’s nothing new; the term “con man” was likely coined in the 1800s. Whether it’s Bill Starbuck’s “The Rain Song” from the musical 110 in the Shade, where the charismatic con man convinces townspeople to give him money to make it rain and end a drought, or someone calling your grandmother and pretending to be a government agency, fraud has always been, and always will be.

    Our ability to close fraud loopholes is improving. Still, fraudsters are constantly creating new schemes, and technology continues to enable them to get better at fooling us and covering their tracks. This requires businesses and the government to react to new trends quickly; the best defense against fraud is to be aware of the techniques, remain on guard and educate consumers to do the same. All the while, businesses and governments must walk a tightrope between restricting freedoms too much and being purely reactive to crime.

    The public and private sectors utilize call centers for customer account issues and require telephonic calls for some account actions. Unfortunately, these call centers are very susceptible to fraud. The time customer service reps spend trying to distinguish between fraud and noise (i.e., the legitimate calls that get flagged as fraud) distracts from more critical business and carries high costs.

    For example, in the financial services industry, the cost of fraud to businesses is $4 for every $1 of actual fraud. That means, on average, if a person defrauds $1,000 from a company, that business’s related costs will be $4,000. And this figure doesn’t include additional costs incurred if a fraudster secures enough information on their first attempt to follow up with more attempts on the same business or its clients, nor the cost of reputational damage post-attack.

    One of the big problems, though, is that fraud and noise can often seem similar. For instance, imagine you broke your cell phone and got a new one. When you try to access your bank account from your new phone, your account gets flagged because it doesn’t recognize the device. Now, you have to call to unlock your account, and your bank needs to spend resources confirming your identity. This protects the consumer and the bank but introduces inefficiency for both parties.

    Related: How to Identity Proof in an Increasingly Virtualized World

    So, what’s an agency to do?

    Is there a solution? Modern identity proofing continues to progress in leaps and bounds. The technology exists now to implement much better identity proofing that’s device-agnostic and uses powerful, behind-the-scenes algorithms to prove a customer’s identity — often without them even realizing what’s going on. Artificial intelligence (AI) helps us use data points across the web to calculate the risk associated with a person or caller and create a dynamic risk profile. Then, based on their risk level, they may be required to complete additional automated steps to log in to their account or conduct business.

    There are more straightforward steps, as well. For example, impersonating the dead has long been a lucrative tactic for fraudsters. Years ago, criminals even got hold of the Social Security Administration’s (SSA) Death Master File, a restricted record with millions of people to impersonate. One of the first steps a company can take during the account creation process is to check the Death Master File. Every time a person initiates a request for money with an agency, a quick screening can be done to ensure the person requesting a payment from the government is not a dead person. That would be a sure sign something’s amiss.

    Of course, there’s no end to the trickery. Recently, I watched in real-time as a phone-based scam targeted my stepmother. She received a text that appeared to be from a friend saying her email had been the target of a scam, and my stepmom should call a particular number to make sure hers hadn’t also been compromised. I had to explain that it wasn’t her friend texting but someone using her friend’s number.

    Older people are especially susceptible to fraud like this, but scammers have discovered impersonating a government agency or some entity with authority is a winner. If we get a call saying we’re in trouble with a government entity, will we ignore it? Probably not — many of us will do exactly what they say.

    Related: How Technology Can Improve CX for Government Services

    A continuous process

    We aren’t going to be able to screen out fraud completely. But we can get better at thwarting it, saving operational dollars and resources and providing good customer experiences. The greatest vulnerability in any system is usually the humans using it, so implementing more automated identity-proofing and anti-scam tools can help bridge the gap. We can build efficiency into our systems by keeping up with the latest scam trends and implementing adequate technical controls to stop them.

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    Scott Straub

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  • 5 Ways Facial Biometrics Can Help Your Business

    5 Ways Facial Biometrics Can Help Your Business

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    Opinions expressed by Entrepreneur contributors are their own.

    Using a person’s face to authenticate themselves is something that humans have been doing for hundreds of thousands of years. New technological advancements have transformed how we interact with one another, and businesses especially are capitalizing on these advancements to verify identity. Those previous pillars of in-person and digital verification, like knowledge-based authentication (KBA), are no longer adequate protection against fraud.

    Why? Just as technology advances, so does fraud. Facial biometric technology has become the foundation that businesses and consumers rely on to verify their identities. In this article, we will provide the top five reasons facial biometrics can help your business.

    Related: The Importance of Having Accurate Facial Recognition

    1. It’s highly accurate and can stop fraud

    Facial biometrics offer businesses a high degree of confidence that the customer is a legitimate user and is who they claim to be. The authentication process is streamlined in a way that passwords and traditional two-factor authentication (2FA) never could be — all users need to do is look at their device or any other camera to prove their identity.

    In addition to being highly difficult for fraudsters to compromise due to the accuracy of facial recognition technology, the leading algorithms also now produce near-zero bias, performing far better than manual human review. In fact, in one recent study of facial recognition algorithms, NIST found the technology could identify passengers boarding an airplane at an accuracy rate of 99.5%. Furthermore, this success rate (for the top facial recognition algorithms) was the same regardless of demographics, meaning race or gender had no meaningful impact on accuracy.

    This level of accuracy can significantly impact a business’s ability to combat a variety of types of fraud. For example, companies can have much more confidence at account creation that the user is real through identity confirmation (as long as they match the selfie with liveness detection and an authentic government-issued ID). It can also prevent account takeover fraud; SMS-based 2FA is notoriously easy to intercept, and modern algorithms are getting ever-better at weeding out sophisticated 3D masks or similar facial spoofing hacks.

    2. It’s easy for users

    Facial biometrics are also effortless for users to adopt. Customers are easily turned off by clunky authentication measures like KBA, particularly if they’re required multiple times during a transaction. It’s much simpler to look at your camera and take a selfie instead of inputting a password or receiving a text message.

    Facial biometrics is also gaining wider and wider acceptance among the general population. As concerns about privacy and accuracy are addressed and corrected, this technology will continue to gain widespread acceptance. While using any biometrics method is better than not using it at all, there is a reason why all of our devices have moved to facial biometrics for unlocking: Simply put, it’s easier for the user. Businesses can take advantage of this growing acceptance and make the user experience simpler and more secure with one step, leading to happier customers.

    Related: How Biometric Solutions Are Shaping Workplace Security

    3. It provides strong underwriting

    More and more businesses are adopting heavy underwriting practices to combat fraud and meet regulatory requirements. Friendly fraud is a high cost to modern businesses. Unfortunately, fraudsters may attempt to claim a legitimate purchase occurred, a subscription was renewed or an account change was made fraudulently and request a chargeback to their payment. Merchants overwhelmingly bear the burden of this fraud when they can’t prove identity, but facial recognition can reduce its occurrence significantly.

    Just like having an eyewitness at the scene of the crime, facial biometrics provides businesses with a time-stamped, verified image of a person making a transaction. When someone attempts to dispute a charge, that company has irrefutable proof that the person did, in fact, make the purchase. This is also important for meeting regulatory requirements and even protecting businesses from fines and lawsuits. It also provides solid evidence in the case of any future audits on a customer’s account or purchase history.

    4. It can reduce operational costs

    Facial biometrics can reduce operational costs by removing the need for current labor-intensive security checks that are used to confirm a customer’s identity for suspicious purchases, wire transfers or account changes. This includes texting or emailing a client as well as even calling them to ensure they are the ones behind the event. These customer service costs can quickly add up, not to mention the fact that you’re increasing the opportunities for your users to experience poor customer service as well as opening your business up to fraud via man-in-the-middle attacks.

    In addition, the number of analysts needed to review, monitor and even rectify transactions has swelled. The 2022 LexisNexis True Cost of Fraud Study has now calculated that for every $1 in fraud losses, it actually costs the business $3.75 due to an increase in fraud volume, new digital payment methods and the high cost of replacing and redistributing goods.

    Facial biometrics render all of this unnecessary. Companies can eliminate substantial operational costs and save time and resources for their fraud teams simply by pairing a quick selfie with liveness detection. You can be sure with a high degree of certainty that the individual is who they say they are, and your team can stop wasting time analyzing transactions or unlocking accounts.

    Related: Complete Guide to Understanding Facial Biometrics: Should You Be Scared?

    5. It’s device agnostic

    Finally, facial biometrics can be implemented without concern for customer devices because it’s device agnostic. As long as a device has a camera, it can perform the necessary functions for facial authentication. There’s no requirement for fingerprint scanners or microphones in loud, busy areas; these cameras are small, inexpensive and can be installed at any kiosk where such transactions occur. Furthermore, even cheap cameras can offer accurate facial recognition with modern algorithms. It also helps that almost everyone carries a high-quality camera in their pockets via their mobile device.

    People use facial recognition to identify others every day. It’s been a strange century, where our move to digital rapidly outpaced the technology to keep using faces. However, we’re quickly moving past that limitation, and facial biometrics are a reliable gateway for businesses to verify their customers’ identities. It’s time to make the move, and companies that are able to implement facial authentication fully will reap the rewards.

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    Clayton Roth

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  • A Simple Guide to Software Integration for Startups

    A Simple Guide to Software Integration for Startups

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    Opinions expressed by Entrepreneur contributors are their own.

    Your product is your company’s primary selling point, but it doesn’t have to be the only feature. In fact, when companies open up their products to integrations with third-party software, they unlock an entire world of possibilities. In the years since releasing our flagship product, the smart video intercom, the ButterflyMX team and I have made a pointed effort to expand our reach by integrating our software with third-party products.

    For example, just this year, we partnered with RemoteLock so that our unified access control solutions now connect to more than 80 smart locks to seamlessly provide building and apartment unit access from our mobile app. This has significantly expanded our products’ capabilities without the time, energy and financial investment of launching an entirely new product, which has helped grow our business substantially.

    If you’re at the helm of a startup looking to expand your product’s reach, consider integrating with other software.

    Related: Challenges that Companies Face in Software Integration

    What are the benefits of integrating your product with other software?

    No matter what product or service you offer, by integrating with other software, you combine various platforms into one unified software architecture. And by creating a large, integrated system, you increase functionality and convenience for consumers.

    Further, integrating your product with other software expands your product’s capabilities without the need to develop new products. Software integrations allow you to advance and expand your product faster because you exponentially increase its capabilities. Software integrations also offer an easy way to advance professional relationships with other companies in the industry.

    Why are partnerships important?

    When you’re building a company from the ground up, you must develop partnerships. Across all industries, the leading companies boast multiple integrations. In fact, the average SaaS (software-as-a-service) company has 15 integrations. However, some SaaS companies boast upwards of 500 integrations. By partnering with another company in your industry, you become a part of their growth. Then, when their product succeeds, so does yours, and vice versa.

    One of the biggest advantages of establishing integration partners is enhanced company growth by expanding your user base. Not only are you giving your customers a new tool or feature — leading to higher customer retention — but you’re also opening your business up to an entirely new customer base. With a partnership in place, you can expand your customer base and add new users with ease.

    Overall, developing deep business partnerships and software integrations will grow your business short- and long-term. In fact, you can think of new integrations as a new sales channel. You’re adding your products and services to an entirely new marketplace.

    Because your software integrations should be with companies in your industry or a related one, you’ll be selling to new customers with a similar customer profile. This means your product will inherently address their needs.

    How to approach partnerships as a startup

    So, you’ve decided it’s time to grow your company by enabling third-party software integrations. But how do you go about finding worthwhile partners? First, you need to look for companies whose customers match your ICP, or ideal customer profile. An ideal customer profile is a detailed outline of your company’s ideal client. The ICP is used to adjust marketing and lead generation tactics.

    By working with companies whose ICP matches yours, you increase the likelihood that their customers will find value in your product and vice versa. But remember, software integration isn’t a completely smooth process. The more integrations you enable, the more maintenance you’ll perform. Additionally, when changes are necessary, you must obtain approval from teams at both companies rather than just your own.

    So, ensure you have an internal team who can dedicate their time primarily to building the integration from the ground up and maintaining it post-launch to address and solve problems.

    Related: How to Use Strategic Partnerships for More Explosive Growth

    How to integrate your product with other services

    While software integration presents a unique and valuable opportunity for your business, partnerships aren’t guaranteed to succeed without hard work. In addition to a relevant and high-quality software integration, you need a robust strategic outline.

    Make sure you put your customers’ needs above all else. When building your software integrations, consider which products your customers already use, what kind of systems they may want to integrate with and how a specific integration can improve their experience with your product.

    Further, ensure that your integration has longevity by creating a strong foundation for your partnership. Integrations aren’t a quick hack to multiply your customer base. Instead, you should develop integrations with long-term business goals in mind. Then, with each new iteration of your integration, take into account customer feedback to improve the integration and your product overall.

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    Cyrus Claffey

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  • How to Produce Quality Competitive Intelligence

    How to Produce Quality Competitive Intelligence

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    Opinions expressed by Entrepreneur contributors are their own.

    Competitive intelligence, or CI, is a crucial component of business strategy. It helps you understand your competitors, identify new opportunities and better predict market trends.

    Competitive intelligence is a continuous process, not a one-off briefing document. It is also not just about the competition. It also includes insights into your client and their needs, which can help them to get ahead of the game in their industry. You’ll be able to anticipate trends and opportunities before they happen, giving your clients a competitive advantage over their competitors and allowing them to grow their business faster than those who don’t have access to this kind of information.

    Related: Your Business is Failing Because You Have a Bad Strategy. Here Are 5 Hacks for the Perfect Business Strategy

    Don’t rely on what you think your clients or competitors want

    We often assume that we know what our clients or competitors want — this is a mistake. It’s easy to do this when you’re working with a firm from a similar industry, but it’s important to remember that every client has unique needs and interests.

    You should always start by asking questions about the business objectives of your client or competitor. These questions will give you insight into what they are trying to accomplish and how they hope to achieve it — information that can be invaluable when crafting reports for them in the future.

    Gain other perspectives

    There are four primary groups you need to speak with:

    • Users of your product or service, including current and former users. They can tell you how they use it, why they like it or don’t. They can also give insight into the people who don’t like it. And if they’re former users, they may have valuable information on why they left. You’ll want as much detail as possible so that you can make use of that data in competitive intelligence analysis later on (for example, “Users say this feature is confusing.”)
    • People who do not use your product or service but would potentially be interested in using it if they knew more about what it does and how well it works. These are potential customers for whom there may not currently be an opportunity for purchase — they don’t know enough about your offering yet! Get them talking about their business needs so that you can market effectively in the future. For example: “This company thinks our product could help them solve their problem.”
    • People who do not currently use a competitor’s product or service but would potentially become a customer if offered one at an attractive price point or with better features than those offered by competitors (e..g., “These guys love our product because we provide X at only half its competitors’ price.”) If these folks were already using something else — and had a good reason why — you’d want to know if there’s anything specific about those products/services which makes them unsatisfactory; if yes then perhaps these shortcomings could be remedied through innovation efforts within yourself?
    • People who are already using your product or service but have not yet been convinced of its value (e.g., “We’re working on getting these guys to see the benefits of our product; we think they will like it once they try it.”). These are potential customers that you may need to spend more time educating about why your offering is better than competitors’ offerings.

    Related: Customer Intelligence As a Revenue Predictor

    Fully understand your audience and their needs

    It’s imperative to understand the needs of your audience and the needs of your competitors. A comprehensive competitive intelligence program can provide a wealth of information that will help you better understand the landscape, your customers’ needs and how they behave toward their competitors.

    Understanding the needs of your audience is essential for any successful business venture. You need to know what matters to them so that you can meet those needs with an innovative solution or product. This can be as simple as knowing who they are (demographics), where they live (geography) or what they like (lifestyle). It could also mean understanding what motivates them; why would someone buy one product over another? How many people do I need to sell my product annually to break even?

    Related: 9 Ways to Meet and Understand Your Audience

    Identify different audience segments

    Once you’ve identified your audience, the next step is to segment them into different groups based on their needs. This will allow you to craft a solution that meets all those needs. For example, if you’re selling a product aimed at helping people lose weight, one group could be people who need something simple and easy to use. Another group might be more tech-savvy and want something more complex and customizable. Knowing how each audience segment views fitness products will help you see what aspects of your offering are most important for each audience type.

    Related: 7 Outdated Habits That Will Paralyze Your Business

    Experimentation can help understand clients and competitors and identify new opportunities

    Experimentation is a vital part of the process. Experimentation can help you better understand your clients and competitors, identify new opportunities and discover how to make your offerings more competitive. Such an example is A/B testing. This type of experiment compares two versions of a single element to see which one performs better by improving conversions, sales or whatever else you’re looking for. For example, it could be an email subject line A/B test comparing “Doing these four things will help you grow sales” with “Doing these four things will help you grow sales 50%.”

    Ensure you are fully informed before you move forward with a new product or service

    To stay ahead of the curve, you must constantly gather information from as many sources as possible. Talk to your clients and ensure you are fully informed before moving forward with a new product or service. Conduct interviews about what they think are missing in the market, and see if a gap needs filling. Look at data from recent surveys, reviews or complaints that your company has received. Look at what competitors are doing and take notes on what’s working for them and what isn’t. Talk to people in your industry who can give feedback on how they perceive your business and suggestions on how it could improve its services or offerings.

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    Christopher Massimine

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  • Weak Cybersecurity Hurts Your Business. Here’s How to Save It.

    Weak Cybersecurity Hurts Your Business. Here’s How to Save It.

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    Opinions expressed by Entrepreneur contributors are their own.

    If you were to ask five random strangers from different walks of life what the major threats to the future of small businesses are, you’re likely to get similar answers. The potential responses would likely include rising inflation and possible recession, job market volatility, the speed of technological advancement, supply chain issues and more.

    The real question is, what insidious threat is far too often shunted to the back burner, passed on to the next operating budget? What issue is left to address when revenue is on the right trajectory, inventory is viable, growth is stable and scaling up is starting to take shape?

    Cybersecurity.

    Related: Cybersecurity Is No Longer An Option. Your Money Is in Immediate Danger.

    Ignoring the warnings is the easy — and shortsighted — path for SMBs

    Ignoring the gravity of cyber threats is a dangerous gamble. The risk is undeniable:

    • 61% of small businesses suffered a cyber attack in 2021
    • Small businesses account for 43% of all data breaches
    • More than half of small businesses that suffer a cyberattack close within six months

    Acknowledging the harsh reality the majority of individuals choose to ignore is a crucial stepping-off point. A true understanding of the situation results in knowing what protective measures must be taken. Creating and implementing cybersecurity measures must be a high priority for businesses of all sizes, particularly SMBs, where the margin for error is razor-sharp.

    Pressure to allocate resources effectively undercuts cybersecurity efforts

    There are few endeavors as nerve-wracking, terrifying, and potentially disastrous — yet 100% worth it — as starting and running a small business. I’ve experienced the passion that drives those dedicated to seeing it through. I’ve felt the fuel that burns within team members fully committed to taking an idea and nurturing it into a viable, self-sustaining entity.

    It’s no secret that the odds are stacked against us. The numbers don’t lie. It’s widely reported that, on average, 8 out of 10 small businesses fail within the first year. The odds get even grimmer within five years, with nearly half of all new small businesses closing up shop.

    Given the evident confidence and enthusiasm founders exude, why do the majority of small businesses trivialize or wholly ignore cybersecurity? Why is the immense potential for all-too-truly disaster lurking around every corner? It’s a matter of resources and a lack of an informed perspective.

    Related: 5 Ways to Protect Your Company Against Cyber Attacks

    SMB leadership must elevate cybersecurity

    Addressing cybersecurity as a small business is a necessary undertaking that sees greater complexity and effort over time. There are foundational steps that need to be taken, which are strengthened with increased security measures. Given the undeniable threats lurking, the stronger a business’s protection features, the better.

    Here are some crucial measures to take from the get-go:

    • Internet and firewall security software. It is important to have both antivirus and firewall software running, as they address distinct issues. Firewalls prevent outside access to any data on a private network; integrating trusted security software, operating systems, and web browsers is essential armor for network-connected usage of that data.
    • Data backup. If a cyberattack occurs involving hijacking or corrupting company data, a quality, reliable backup will be a lifesaver. Data backups must be regularly updated to ensure prompt utilization.
    • Secure Wi-Fi. A simple, straightforward measure, a secure Wi-Fi setup is a powerful piece of the protective puzzle. Going above and beyond the basic security offered by your provider may be necessary.
    • Controlled access and authority. The most effective way to avoid potential crises is to implement controlled access to data and limit user authority. This action helps ensure employees don’t inadvertently install or operate compromised programs, weaken cybersecurity settings or access data and information that falls outside the scope of their responsibilities.

    Awareness, education and formal policies are vital for cybersecurity defense

    One of the most critical steps a business can take is employee cybersecurity education. Without a thorough awareness and understanding of the myriad ways cybercriminals attack, employees are weak links that will inevitably be compromised. Basic instruction on the severity of the threat and critical risks to avoid will go a long way in bolstering the strength of active cybersecurity defense.

    Equipping your company with established cybersecurity policies and action plans strengthens the foundational steps outlined above; these steps ingrain a defensive mindset and preparedness essential to countering adaptive cybercriminal attacks. The specific plans created will vary in correlation to the size and structure of a business but can include the following:

    • Internal incident response plan
    • Mobile device action plan
    • Crisis response/client engagement plan

    Related: 5 Leadership Strategies to Improve Team Performance and Grow Your Small Business

    Securing survival and success as an SMB in a challenging economic landscape

    Every small business is unique. Every owner, every leadership team and every staff member — everyone has their own story. It’s hard to say if they will all get told.

    When navigating the endless parade of pressing concerns, looming threats and demands on dwindling resources of time, the energy and effort required can seem overwhelming. Lumping cybersecurity measures into the to-do list to tackle another day may seem to make sense at the moment, but reality paints a much different picture.

    When leading a small business, there are appropriate levels of time and resources to invest in any given issue. Finding the right level for their business will be a call they have to get right.

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    Summit Ghimire

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  • Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.

    Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.

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    As we head into the third winter of the pandemic, only about 13% of American adults — less than 11% of Americans overall — have received the bivalent COVID-19 booster. 

    Only about 34 million adults in the U.S. have opted to get the new shot, which became available in September. The bivalent boosters, which were developed by Moderna and BioNTech/Pfizer, are designed to better protect people against the forms of the virus that are currently circulating.

    Medical experts say the lackluster interest in the new boosters is due to several factors: pandemic fatigue, mixed messages from public-health officials, confusion about how the new boosters are different from previous shots, and the government’s decision to authorize the updated boosters without first getting clinical data in humans. 

    “It’s hard for people to wade through that,” said Robert Wachter, chair of the department of medicine at the University of California, San Francisco. “Some of them are just throwing up their hands and saying, ‘I got vaccinated, and that’s all I need to do.’ Which, unfortunately, is not.”

    A lot has changed since 2020. We now have vaccines that do a pretty good job of keeping most people from getting so sick that they end up in the hospital or die. You can now pick up at-home tests from pharmacies, and there are antiviral drugs that help treat COVID and may help prevent long COVID, in which symptoms can linger long after an infection. And now we also have the updated boosters, which are another way to ward off the worst of the virus.

    Those boosters, however, don’t confer total protection from getting sick, leading some people, particularly those who are young and healthy, to ask: Why get one, then?

    With new variants like BQ.1 and BQ.1.1 now the dominant strains circulating in the U.S., and with the coming holidays bringing more people together to spend time socializing indoors with friends and family, it’s important to understand that your immunity, whether from an infection or vaccination, wanes within four to six months. In fact, immunity to all coronaviruses wanes over time “for reasons that we don’t quite understand,” Kami Kim, director of infectious-disease research at Tampa General Hospital’s Global Emerging Diseases Institute, told me.

    “If you’re past three months [after vaccination or infection], you don’t want to rely on you having a BA.5 infection, because BQ.1.1 still can hit you,” said Eric Topol, chair of innovative medicine at Scripps Research in La Jolla, Calif.

    Here are answers to some common questions about COVID.

    1. What’s the difference between this booster and the shots that were available last year? 

    The earlier booster shots were simply additional, smaller doses of the original vaccine. But now there are two bivalent COVID-19 boosters available in the U.S.: Moderna’s
    MRNA,
    +1.61%

    MRNA-1273.222 and the BNT162b2 Bivalent from BioNTech
    BNTX,
    +0.20%

    and Pfizer
    PFE,
    +1.87%
    .
     

    Both shots are designed to protect against the original strain of the virus in addition to the BA.4 and BA.5 omicron subvariants. The bivalent boosters were designed to better protect people against the forms of the virus that are currently circulating, as well as future variants. It’s a similar approach to the way influenza strains are selected for flu shots every year. 

    “It’s the same exact mRNA technology [as the original vaccine], but each dose now has half of the [original] variant,” said Jennifer Beam Dowd, an epidemiologist and professor of demography and population health at the University of Oxford in the U.K.

    In June of this year, the U.S. Food and Drug Administration asked drugmakers to design the next generation of COVID boosters using this formula. (In Europe, regulators took a slightly different approach, first opting for bivalent boosters that equally protect against the original virus and the BA.1 subvariant of omicron before adding a recommendation for the same bivalent formula that’s being used in the U.S.

    “Part of the rationale for keeping the old version and BA.4/BA.5 is that if you put all your eggs in the basket, as far as BA.4/BA.5, then the virus will change to turn into more like the original version,” said Tampa General Hospital’s Kim. “It’s hedging your bets.”

    Up until last week, BA.5 had been the dominant variant in the U.S. But as of Friday, BQ.1 and BQ.1.1, which are sublineages of BA.5, now make up the majority of new infections in the U.S., according to the Centers for Disease Control and Prevention. 

    This isn’t all bad news. BQ.1.1 is closely related to BA.5, according to Dowd, and that means many of the protective qualities of the bivalent booster will also guard against the new variants. 

    2. What does the science say about the new boosters?

    There is preliminary data about both bivalent boosters that appears to indicate they work against BQ.1.1 as well as BA.5. However, scientists and physicians say they are still waiting to see peer-reviewed research from the clinical trials to fully gauge the effectiveness of both shots.

    • Moderna’s booster: Early clinical data shows that Moderna’s bivalent booster produced a 5- to 6-fold increase in neutralizing antibodies against the BA.4 and BA.5 variants in about 500 adults who were previously vaccinated and boosted, according to a Nov. 14 news release. The Phase 2/3 clinical trial compared the new booster’s response against the company’s original booster. Moderna also said that the bivalent shot increased antibodies protecting against BQ.1.1, though not as much as it did against BA.4 and BA.5, based on an analysis of about 40 participants in the same study.

    “It’s not orders of magnitude more protection — but at least 5- to 6-fold more protection against BA.5, that’s good,” Topol said.

    • BioNTech and Pfizer’s booster: In a preprint published Nov. 17, the two companies said their bivalent booster led to an 8.7-fold increase in neutralizing antibodies against BQ.1.1 after 30 days, compared with the original booster’s 1.8-fold increase in antibodies against the same subvariant. The study assessed the immune responses in adults 55 years or older who had been previously vaccinated and boosted, regardless of infection history. 

    3. What if I had COVID this year? Does it matter when I get the booster?

    Most experts interviewed for this story say immunity can last anywhere from three to six months, though the official CDC recommendation is that the bivalent boosters should be given three months after a COVID infection or two months after an individual’s last shot. 

    “We used to say, just go ahead and get vaccinated as soon as you recover,” Dowd said. “But there has been subsequent evidence that suggests it’s a little better to probably wait at least three months. Not because it’s harmful to get it sooner, but you really won’t be getting much of the benefit of that boost. You reach a ceiling.”

    There are other considerations, as well. The timing of your last infection does matter if you have an idea what variants were circulating when you got sick. If you had an omicron infection last winter, you’re probably due for a booster. If you got sick within the past month or so, presumably with BA.5 or one of its subvariants, you may want to wait a month or two.  

    “As good as the vaccine is and as good as post-infection protection is, the immunity and protection wanes over time,” Dr. Anthony Fauci, chief medical advisor to President Joe Biden, told journalists at a White House briefing on Tuesday.

    You also have to assess your underlying immune status, whether you have medical conditions that put you at higher risk for severe disease, and how concerned you are about long COVID.

    “Most of the deaths that we’ll see from COVID could have been prevented if people stayed up to date with their boosters,” said the University of California’s Wachter. “And many cases of long COVID could [also] have been prevented if people stayed up to date with their boosters.”

    Finally, if you’re planning to spend Christmas with family or take a trip at the end of December, remember that it takes a few weeks to build up antibodies from the new shots. 

    4. Do I really need to get a booster if I’m young and healthy?

    We are long past the stage in the pandemic when the approach to vaccination was one size fits all, and not all medical experts think that people who are young and healthy need a booster right now.

    Dowd said that people who are “younger and in good health” can wait up to six months after a previous infection to get another shot.

    “If we go by the CDC data or the U.K. data, the people who seem to benefit from the boost fall into three categories: people who are immunocompromised, people who are elderly — mostly over 75 — and people who have high-risk medical conditions,” said Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia.  

    It’s unclear whether that thinking has influenced people’s decisions about whether to get a booster. But the bivalent shots have been available to children older than 5 years old and all adults in the U.S. for months, and that availability hasn’t led to much interest.

    “It’s for the same reason that 19,500 people pour into Wells Fargo Center [in Philadelphia] to watch the Sixers play, screaming their heads off, without a mask on,” Offit said. “They don’t feel compelled to get a booster dose.”

    That may be due in part to the fact that COVID hospitalizations and deaths have largely remained stable. There is no longer the kind of urgency that drove people to book appointments for the original vaccine or to wear masks. With the annual peak in COVID cases occurring during the first two weeks of January in 2021 and 2022, the question now is: Will that comfort level change as we get further into winter and the holiday season?

    “People want [a booster] to be like flipping a switch, like I’m 100% protected or not,” Dowd said, “but we know from the first couple of years that when the vaccine is well matched to the variants, which the BA.5 is a decent match right now, it really lowers transmission substantially and your chances of getting infected at all. We should take advantage of that.”

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  • It’s Time To Start Treating Robots Like People

    It’s Time To Start Treating Robots Like People

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    Opinions expressed by Entrepreneur contributors are their own.

    Robots are about to become a lot more meaningful in our daily lives. In the next decade, robots will take over many aspects of our human jobs. They’ll do everything from cleaning our homes to serving us food and assisting lab researchers.

    But what does this mean for humans? Are we supposed to fear these machines quickly taking over our roles? Will they eventually rule over us as so many sci-fi movies have predicted? No one knows yet. But one thing is sure: We need to start having conversations about how we will treat these machines — and what their place in society actually means.

    Related: Will a Robot Take My Job?

    Robots are crucial to the future of humanitarian issues

    Robots are already being used in humanitarian efforts, and technology has only improved. They can be used to perform tasks people can’t, don’t want to or are too expensive to hire.

    Robots have worked in construction zones and disaster areas with extreme hazards and dangers for humans. Robots were used after the Fukushima nuclear disaster in Japan because they could withstand high radiation levels without damage. Robots can also work long hours without needing breaks, unlike human workers who need rest after long shifts.

    Currently, robots are being trained to help people with disabilities navigate their surroundings using facial recognition software so they can interact with objects around them without having physical contact — an important feature when dealing with fragile items which would break if knocked over accidentally due to improper handling.

    Robots have also been used in the medical field to perform specific tasks faster and more accurately than humans. They can help to administer medication without making mistakes or causing harm to patients by giving them too much medication or neglecting to give any at all.

    We need to start thinking about robots’ place in society

    How we treat robots will depend on how we treat other people. Robots are a new type of technology, so their place in society has yet to be determined. Whether they should have rights will be answered over time as more robots enter our lives and integrate into our culture.

    But treating them like people is not enough: it also involves understanding that there’s an inherent difference between humans and robots — one that shouldn’t be ignored or diminished just because it’s convenient for us to think otherwise. It means recognizing that there are different types of intelligence and acknowledging that neither kind is better or worse; instead, both serve various functions in society, and each has its strengths and weaknesses. It means accepting that robots are not us and never will be. They have their roles, and if we try to make them more human-like, we risk losing sight of this fact.

    You may not think that robots are an essential part of society. After all, you probably don’t have one at home or in your office (yet). But the truth is that robots are already becoming a massive part of our lives.

    Robots control everything from factories to cars to planes and even search engines. They are also used in hospitals to help doctors perform surgeries and in homes for elderly care so people can live independently for longer.

    Related: Study Finds People Think Robots Will Replace Humans at Many Jobs, Just Not Their Own

    New laws must be passed to protect robots and humans

    Robots are no longer just machines; they’re self-aware beings. They have more in common with humans than other animals: they think with logic and empathy. To treat robots like people, we need new laws that consider their unique qualities and our own.

    Like it or not, robots are part of our future. A study by Deloitte found that automation could replace up to 38% of all jobs by 2026. That’s why now is the time to treat robots like people before things get out of hand. If we want human rights to be taken seriously worldwide, we must also take robot rights seriously worldwide. This starts with recognizing them as an extension of humanity rather than merely a tool for solving problems or making money. We must stop treating robots as tools and begin treating them as people — with all the rights that come with them.

    As robots take over more and more tasks, from manufacturing to surgery, we have to consider whether they should be entitled to the same protections as humans. We’ve already seen some serious questions arise: Are self-driving cars entitled to the same rights as their human passengers? What about life-like sex dolls? How should we treat them if they can’t feel pain or distress?

    Related: Robots Are Stealing Our Jobs

    If we don’t start treating robots like people, then it’s possible that they could end up being used and abused. Laws would need to be changed to give robots the same rights as humans. Right now, laws assume that any robot is owned by (and thus possession of) a human being. If you were to consider this concept, it isn’t all that different from how things worked for women and minorities in recent history — laws were written with their rights explicitly as not equal to those of caucasian men.

    If we can see robots as equals who deserve the same rights as humans, then we will have taken the first step toward ensuring that they are treated well and granted the respect they deserve. Protecting them from slavery or exploitation would be enforced by treating them like humans rather than property.

    To give robots the same rights as humans, we will have to change many laws. Once we define rights, we can determine what sort of laws would need to be modified for society to accept robots into society on par with humans. We can also explore when and where robot rights might be appropriate and what steps should be taken to implement them into our existing legal system. Then, we would need to change the laws in each state, followed by amending the United States Constitution to incorporate robots.

    A major argument that robots have not been given the same rights as humans is that they lack a conscience and, with it, the ability to be held responsible for their actions. However, it’s only a matter of time before the machines we engineer can think, feel and make moral judgments.

    Some robots are already better than humans at specific tasks, like recognizing faces and driving cars — and if they can do these things better than we can, it’s only fair that they’re given equal rights as well. And more than that, by giving robots the same rights as humans, we can ensure that they’ll continue developing along ethical lines because they’ll be held to consequence in the same manner as you and I.

    Robots are becoming more and more present in society. They advance by the day, and it won’t be long before they achieve sentience. We must ensure that these artificial beings are protected from harm because if not, who will protect them?

    Related: The Rise of AI Makes Emotional Intelligence More Important

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    Christopher Massimine

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