Category: Enterprise Innovation

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Applied Innovation Enterprise Innovation

No-Code Platform for Enterprise Metaverse

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Applied Innovation Enterprise Innovation

No-Code Platform for Enterprise Metaverse

The pandemic has altered the way we live, there is an increased presence of technology in every domain of our lives.  Across industries, a shift in the fundamentals is taking place. Amid all this, Metaverse, a technological innovation that holds power to transform the way businesses function across multiple sectors, has come into existence.

Metaverse

As described by Meta, formerly facebook, the metaverse is a “set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”  The word doesn’t refer to a certain type of technology as such but a shift in how we interact with technology. The technologies referred to as “the metaverse” discussed include cutting-edge technologies such as Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR), a hybrid of AR and VR, and blockchain. 


This internet’s transition from 2D websites to 3D cyberspaces is having an impact on industries such as Healthcare, defense, education, manufacturing, automotive, supply chain, real estate, etc. This has forced the bulk of major companies to have a metaverse strategy on how they can take advantage of the metaverse’s potential. The term ‘enterprise metaverse’ has come into the picture which by definition, is a metaverse that enables business growth opportunities for an enterprise.

Enterprise Metaverse


Enterprise metaverse refers to an immersive virtual environment– digitization of existing applications and processes for businesses– that enables companies to explore new digital possibilities and reach global audiences, drive engagement, create meaningful connections, train employees, etc. By creating Metaverse Apps for processes, operations, and infrastructure enterprises can greatly improve their operations. Digital twins i.e. real-time digital copies of a physical object are building blocks of the metaverse.

Enterprise Metaverse and Digital Twins

Synchronized with the physical world using sensors and IoT connections, Digital Twins are foundational to enabling the enterprise metaverse. These sensors produce data about different aspects of simple assets or products to complex environments which are then relayed to a processing system (on the edge/cloud) and applied to a digital twin and give one centralized view bundled in a web/mobile/XR app. Software techniques can be used for these models and analytics can be run to gain insights and predict changes before they happen. The gained insights from the simulated copy can be applied to the real-world twin in the physical environment to realize the benefits.

No-code platform solution for building Enterprise Metaverse


Businesses are adopting the enterprise metaverse in the form of digital twins to get an edge over their peers but creating virtual models of factories is not an easy task despite the available resources for it. Quotients has been engaging with startups working on no-code platform solutions for building enterprise metaverse applications such as digital twins. No-code is software in the form of service that allows users to customize any type of digital product or environment with little to no coding experience.

This solution can connect data with sensors equipment leading to video feeds in an interactive 3d workspace. The patented technology offers process automation, visual programming tools, and 3rd party integrations to build software without any programming knowledge. The users can create and publish workflows and run applications on multiple platforms by connecting sensors and devices, importing existing 3d models, and mapping 3d events interactions.

To know more about such innovative solutions and evolving use cases in different domains along with collaboration and partnership opportunities please write us at open-innovator@quotients.com


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Applied Innovation Enterprise Innovation

Blockchain based Anti-counterfeit solution

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Applied Innovation Enterprise Innovation

Blockchain based Anti-counterfeit solution

Surge in Online Shopping

The growth in online shopping has seen a spectacular increase in last few years. The retail e commerce sales worldwide is expected to climb a further 16.8% this year, to $4.921 trillion. This rapid acceleration of online buying was fueled by the pandemic, several countries like India, Brazil, Russia, and Argentina are witnessing significant expansion in e commerce.

Areas of Concern

Although online shopping has many factors of concern like data security, customer loyalty, unexpected price changes, economic uncertainty, inventory overload etc but counterfeited products sold online to unsuspecting consumers is one of the major concerns. Phone chargers, pharmaceuticals, and cosmetics are common items whose counterfeit products are often sold online at a considerably lower price.

Counterfeiting Impacting Brand Reputation

Counterfeiting is not only impacting not just sales and profits but also brand reputation. Brands and organizations strive to improve their brand identity and expanding their market share by constantly working on developing unique and innovative products but if the end consumers do not get access to these features because of infiltration of fake products results in the brands suffering massive losses.

There are also certain risks health risks associated with these counterfeits products, like electrocution or exposure to harmful chemicals that can cause serious damage to customers health. It has thus become pertinent that brands and organizations guarantee the authenticity of their products as the customers move towards more online purchases.

Groundbreaking Technology

To address this need of ensuring that authentic products reach the end consumer, Quotients has been working with different startups to come up with a solution. In this quest, we have come across a groundbreaking technology that employs AI, cryptography, and blockchain to add a cryptographic signature to the parcels. This signature can be used to verify the authenticity of products by a user’s mobile device through an app. Also, there is no need to change the existing package design and printing process by the client.

How it works

Blockchain is used with IoT and NFC tags to provides stakeholders with the visibility a product’s entire history. Blockchain creates immutable digital records, as a permanent ledger, any data stored stays for all the time. As each piece of information is encrypted individually to make a change rest of the nodes in the network need to agree which makes it impossible for the fraudsters and instances of fraud can be easily detected.

NFC, or near field communication, a popular wireless technology that allows transfer of data between two devices that are in close proximity, is a tamper-proof tag that is used to give each product a unique identifier.

As the product goes through the distribution chain, operators scan the NFC tag and upload information about its current state to the blockchain. Because all signatures are cryptographic, the system can provide complete security and transparency. The blockchain serves as a permanent data repository and while NFC tags prevents tampering with real objects.

Application

Application of anti counterfeit solutions depends primarily on the needs of industry and respective supply chains. In agriculture, this solution can be used to check illegally-produced goods that may pose a real risk to human health. The pharmaceutical industry is another popular target where false drugs are counterfeited as genuine by refilling empty containers or using fake labels. Here such solution can be used to combat such activities and save life and prevent harmful effects on patients.

These innovations also find application ensure premium beverages, food and tobacco products. With the globalization of food products and producers working in different areas better opportunities these solutions can help tracking and monitoring of supply chain and ensuring delivery of genuine products.

Conclusion

By ensuring the delivery of authentic product, the solution leads to brand loyalty and along with this it generates rich data on interactions in supply chain, checks cross border sales, helps in warranty management and in reducing carbon footprint by constant monitoring of supply chain.

To know more of such innovative solutions and evolving use cases in different domains along with collaboration and partnership opportunities please write us at open-innovator@quotients.com

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Enterprise Innovation Innovator's Vista

Real time collaboration tool for Businesses

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Enterprise Innovation Innovator's Vista

Real time collaboration tool for Businesses

The Covid-19 pandemic has had tremendous impact on workplace culture. The concept of Distributed Workforce came into being as a result employers had to adapt and support mass remote working at astonishing speed. The modern workforce is distributed in different locations and even in different time zones therefore there is an increased need for coordination to speed up the work processes.

There has been an accelerated adoption of digital tools by Enterprises, specifically Collaboration tools that help teams and groups work together toward a common goal. It involves the use of the Internet, or
some other form of technology enables sharing information with one another. Some examples include Chat apps, Video Conferencing Tools, Project Management apps and File sharing programs.

Chat based collaboration apps have a big impact on productivity of an organisation, as they are less formal than emails. These allow individuals to communicate instantly through direct chats for quick conversations and follow-ups. There are also provision for private channels for focussed team or project discussion and public channels for conversations around shared interests.

Video conferencing platforms have also become significant for enterprises’ strategies. They are also an important factor for establishing a competitive advantage by changing the way employees work. Allowing Face-to-face communication allow teams to work together or with customers and clients effectively, irrespective of their location.

Finding and sharing files allows information to flow freely among everyone at the organization. This allows team members to share files and every member can have access to all team’s knowledge and discussions, no matter who shared them or when.

Project Management app helps organisations manage multiple projects in one common platform. It provides visibility of the progress of each project in one integrated system which ensures prioritizing tasks that are more important and team members to be regularly updated with changes in projects.

Workflow management tool is another collaboration tool that enables teams to streamline and speed up their routine business processes for optimal efficiency. There are options to share tasks with built-in shared “To-dos” which makes managing workflows easier.

Collaboration Tools thus increase coordination and speed up the work processes and enhance the productivity of the workforce. The global team collaboration software market is projected to grow significantly as there is an increasing trend among companies regarding accepting intelligent meeting solutions for remote working.




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Enterprise Innovation Innovator's Vista

Blending AI with human agents for customer experience automation

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Enterprise Innovation Innovator's Vista

Blending AI with human agents for customer experience automation

New generation of consumers look to engage and resolve issues in real-time, 24/7. Businesses have no other choice but to transform their customer and employee experiences to be omnichannel, intelligent, personalised, that too, at scale.

Customer Experience Automation let businesses to build the toolset that makes the most sense for their model, then orchestrate personalized experiences across.

Natural Learning Processing (NLP) Engine forms the core component that interprets what users say at any given time and converts that language to structured inputs the system can process.

Businesses can deliver on-demand fulfilment by blending AI and human intelligence Thus business-to-consumer interactions of every enterprise across the world, can be made intuitive, personal, and real-time. As AI offloads simple, repetitive, monotonous tasks from customer service agents — letting them concentrate on complex questions or allowing them to better connect with the customer.

The hybrid Agent + AI model, the next natural progression is towards bot-initiated conversations. The scope of these messages includes promotions, campaigns, back-in-stock notifications, abandoned cart reminders, etc., to proactively reach customers.

With the advent of DIY no-coding bots, it is rapidly becoming an option for small startups and individuals to try their hand at building bots with basic functionalities.

Blending AI with human agents allows enterprises improves customer service that leads to more customer satisfaction, agent satisfaction, agent productivity and increased customer retention.

These customer experience automation platforms can find application in sectors such as BFSI, Retail & Ecommerce, Telecom, Education etc.




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