Transforming Retail with a Self-Service Digital Solution

At Quantox Technology, we don’t just build software—we solve problems. For the leader of sports retail in the region, Sport Vision, one of our recent projects, "Sneaker Point," showcases how we helped  revolutionize their retail experience by addressing operational inefficiencies and creating a streamlined, self-service ordering process.

The result? A digital solution that saves time for both customers and store staff while delivering an enhanced shopping experience.

The Challenge: A Time-Consuming Ordering Process

Before partnering with Quantox, the client faced significant operational challenges in their stores:

• Overburdened Staff: Store employees spent excessive time checking inventory for customers, verifying available sizes, colors, and models in storage, and retrieving items manually.
• Inefficient Customer Experience: Customers often had to wait while staff members checked stock and brought the requested items to the shop floor.
• Limited Resources: A lack of human resources added further strain on the ordering process, reducing efficiency and customer satisfaction.

Our mission was to solve these pain points by creating a self-service solution that streamlined the entire process, improved user experience, and reduced the workload for store employees.

The Solution: Sneaker Point – A Self-Service Retail System

We developed Sneaker Point, a comprehensive digital product that empowers customers to take control of their shopping journey while enabling store staff to focus on more value-added tasks.

Key Features:

1. Customer Self-Service:
   
   
   • Customers can scan a product to view all available variations (sizes, colors, models).
   • They select the desired option, and the system sends the order directly to the store’s storage.
2. Automated Delivery:
   
   
   • Items are retrieved from storage and delivered to the shop floor via automated escalators.
   • The entire process is visible on screens throughout the store, so customers stay informed.
3. Efficient BackOffice Management:
   
   
   • Store administrators can monitor and manage orders, inventory, and customer interactions using an intuitive backend system.

This solution significantly reduced the time required to fulfill customer requests while delivering a seamless, transparent shopping experience.

Our Approach: A Fully Integrated Solution

At Quantox, we take pride in delivering all-round IT and software development support. For the Sneaker Point project, we provided a complete package, handling everything under one roof:

• Custom Digital Product Development:
  
  
  • Designed and developed a scalable solution tailored to the client’s needs.
  • Built using a robust tech stack, including Node.js for the backend, React.js for the frontend, and native Kotlin for Android apps.
• Third-Party Integration:
  
  
  • Seamlessly integrated with the client’s ERP system for real-time inventory updates.
  • Included payment system compatibility and potential for future extensions.
• Infrastructure and Deployment:
  
  
  • Developed a reliable architecture using Redis for caching and PostgreSQL for database management.
  • Ensured smooth deployment and operational scalability.

Our ability to deliver a cohesive solution—from design to deployment and integration—sets us apart as a partner in digital transformation.

‍

‍

Results: A Game-Changing Retail Solution

The Order Point system has transformed the way the client operates their stores. Key outcomes include:

• Enhanced Customer Experience:
  • Customers now enjoy a self-service shopping process that is faster, more intuitive, and completely transparent.
• Reduced Staff Workload:
  • Shop assistants spend less time managing inventory and more time focusing on customer engagement.
• Operational Efficiency:
  • The automated system ensures a seamless flow from order placement to delivery, reducing wait times and eliminating inefficiencies.

Why Work With Us?

At Quantox, we specialize in transforming business challenges into innovative digital solutions. When you work with us, you gain access to:

• End-to-End Development: We provide all-around IT support, from initial product discovery to deployment and beyond.
• Custom Integration Expertise: Whether it’s ERP systems, payment gateways, or other third-party platforms, we handle all integrations seamlessly.
• Retail Industry Know-How: Our deep understanding of retail challenges allows us to deliver tailored solutions that drive measurable results.

Let us show you how we can create intelligent IT solutions that enhance your brand, streamline your operations, and elevate your customer experience.

Let’s Build the Future Together

Do you have an idea that could transform your business? Reach out to us today, and let’s create something extraordinary.

‍

In today's digital age, where innovation is rampant and creativity knows no bounds, safeguarding intellectual property (IP) is paramount. With the rise of digital piracy and the ease of unauthorized duplication, protecting one's creative works has become an increasingly daunting challenge. However, with the emergence of groundbreaking platforms like Verifismart, developed by the Quantox team, individuals and businesses can now rest assured that their intellectual assets are fortified with robust cryptographic protection.

‍

Revolutionizing IP Protection

‍

Verifismart is a testament to the innovation and technological prowess, offering a transformative solution to the age-old problem of IP theft. Leveraging the power of blockchain technology, Verifismart empowers users to validate the authenticity and ownership of their creative works with unparalleled precision and security.

‍

Cryptographic techniques for high-level security

‍

At the heart of Verifismart lies the expertise of the Quantox team, whose proficiency in cutting-edge technologies has paved the way for its success. Through meticulous research and development, our team harnessed the capabilities of Solidity, NodeJS, Laravel, and React to craft a platform that sets new standards in IP protection.

‍

By incorporating advanced cryptographic techniques such as hashing, encryption, and data signing and verification, Verifismart ensures the highest level of security for users' intellectual assets. This sophisticated approach safeguards against unauthorized access and instills confidence in users, knowing that their creative works are shielded from infringement.

‍

A Test of Resilience

‍

The journey towards creating Verifismart had its challenges. Designing a system that effectively cryptographically protects intellectual property demanded ingenuity and perseverance. 

‍

Through collaborative efforts, we devised a robust framework that integrates blockchain technology with user-friendly interfaces. The result? A platform that not only meets the client's needs but also anticipates the challenges of tomorrow.

‍

Compromise between Security and IP?

No more. 

‍

With Verifismart, users no longer need to compromise on the security of their intellectual property. The platform offers a holistic solution that combines enhanced security measures with intuitive functionalities, providing users with the peace of mind they deserve.

‍

With Verifismart, we have contributed to redefining the landscape of IP protection. We pushed the boundaries to safeguard the creative works with Verifismart and ensure a future where IP remains secure for generations to come. 

In the fast-paced digital era, businesses constantly seek innovative solutions to enhance operations and provide a loyalty-rich customer experience. For golf cart sellers, the challenges lie not only in showcasing their products but also in creating a seamless buying process.

‍

Bringing the right tools to the table 

‍

Our client, a forward-thinking entrepreneur in the golf cart industry, approached us with a unique challenge. While the frontend of their website was well-established, they needed a robust backend system to facilitate the promotion and sale of golf carts. The primary goal was to empower the owner with the tools necessary to effectively showcase and sell their inventory.

‍

Two-step approach for full functionality

‍

To meet the client's objectives, the Quantox team had a two-step approach. First, we focused on enabling the owner to effortlessly add golf carts to the platform, providing all the essential details that potential customers would find valuable. Second, we dedicated our efforts to creating a smooth and user-friendly buying functionality, ensuring a seamless experience for sellers and buyers. 

‍

Perfect, user-friendly buying flow

‍

The central challenge in this project revolved around crafting a perfect and user-friendly buying flow. Streamlining the purchasing process is crucial to keeping customers engaged and satisfied. A golf cart can be a significant investment, and the buying experience is needed to reflect the high standards associated with such purchases.

‍

Loyalty-Rich Customer Experience

‍

Creating a loyalty-rich customer experience was at the forefront of our strategy. The website allowed the owner to promote golf carts effectively and facilitated smooth communication between sellers and buyers. This direct interaction fostered trust and encouraged repeat business, laying the foundation for a loyal customer base.

‍

After implementing cutting-edge solutions, the result was a fully functional website. The owner can now effortlessly add golf carts for sale. The buying flow is intuitive, setting a new standard in the golf cart sales industry.

‍

Embracing digital solutions and prioritizing a loyalty-rich customer experience can propel businesses into a new era of success. As the industry evolves, staying ahead with innovative solutions will be the key to sustained growth and customer satisfaction.

‍

Golf Cart Sellers - A Redefined Platform for Loyalty-Rich Customer Experience

‍

In the realm of technology, innovation often arises from a fusion of diverse fields. One such intriguing intersection occurred in the development of Hypknowledge, a revolutionary website designed to enhance our understanding of sleep habits and provide personalized advice for better sleep. Behind this visionary project lies a tale of meticulous problem-solving, the acquisition of newfound expertise, and the adept use of cutting-edge technologies.

‍

Understanding the Sleep Science

‍

At the core of this project was the need to comprehend the intricate details of sleep science. Sleep tracking involves a myriad of terminologies, formulas, and crucial calculations. Quantox team delved deep into the nuances of sleep science to ensure that every mathematical aspect related to sleep extension was accurate. 

‍

Implementation of HIPAA Standards 

‍

Creating the solution for our client was not merely about programming; it was about gaining a profound understanding of the health industry and its standards. One crucial aspect that came to the forefront was adhering to HIPAA standards. The team recognized the significance of safeguarding user data, especially when dealing with sensitive health information. Through this project, we not only learned the terminology and phrases associated with sleep science but also acquired a comprehensive understanding of the ethical and legal considerations in the health tech domain.

‍

Bridging the Gap Between Data and Advice

‍

The culmination of our efforts resulted in the creation of Hypknowledge. This unique platform empowers users to document their sleeping habits and receive tailored advice to improve their sleep quality. Leveraging Laravel and VueJS, the team seamlessly integrated technology into the fabric of sleep science, offering users a user-friendly and efficient interface to track and analyze their sleep patterns.

‍

Security as a Priority

‍

In the healthcare industry, data privacy is paramount. We took a proactive approach to ensure the security of user information. We incorporated HIPAA standards into the development process and created an app that not only delivers valuable insights into sleep patterns but also guarantees the confidentiality and privacy of users' data. This commitment to security reflects the team's dedication to providing a trustworthy platform for users to share their sleeping habits without compromising their privacy.

‍

Hypknowledge is a project that reflects interdisciplinary collaboration, problem-solving, and a commitment to security and user privacy. The project unlocked the mysteries of sleep science and demonstrated how technology, when wielded with expertise and care, can positively impact customer`s well-being. 

‍

Hypknowledge - Trustworthy platform for Sleep Analysis

JDM Supply's innovative project redefines the realm of buying and selling automobiles. Unlike traditional buy/sell solutions, JDM Supply required a cutting-edge bidding algorithm that would not only enable users to bid for vehicles but also ensure complete anonymity throughout the entire process.

‍

Innovating Secure Bidding

‍

In close collaboration with the visionary team at JDM Supply, we set out to revolutionize the automotive trading landscape. The result is a groundbreaking bidding algorithm that introduces a new dimension of security and anonymity to the bidding process. Our objective was clear - to empower users to bid with confidence, knowing their identities would remain completely confidential.

‍

Auction Algorithms in Action

‍

To meet JDM Supply's unique requirements, we harnessed the power of auction algorithms, reshaping the way vehicles are bought and sold. The heart of this project lies in our ability to ensure secure, real-time, and fully anonymous bidding. Leveraging our expertise in Laravel, JavaScript, and WebSockets, we seamlessly integrated these technologies to create a solution that allows users to place bids without any concerns about privacy or security.

‍

Elevating Anonymity and Real-time Bidding

‍

Our team's proficiency in implementing auction algorithms is evident in the seamless experience provided by the platform. Every bid placed remains fully anonymous, shielding users from unwanted attention while allowing them to actively participate in auctions. Furthermore, we ensured that all bids are instantly displayed in real-time, enhancing the excitement of the bidding process.

‍

At Quantox Technology, we take immense pride in our ability to not only meet but exceed the unique challenges presented by projects like JDM Supply - just one of many testaments to our commitment to pushing the boundaries of technology to provide solutions that transform industries.

‍

JDM Supply - Bidding Transformed with Innovative Algorithms.

At Quantox Technology, we are thrilled to unveil one of our projects – CoreTerminal, a game-changing solution meticulously crafted to empower traders across multiple exchanges, revolutionizing how they approach the dynamic world of cryptocurrency trading.

‍

Empowering Traders, Elevating Strategies

In close collaboration with our esteemed client, we embarked on a mission to reshape the landscape of cryptocurrency trading. Our vision gave birth to CoreTerminal, a comprehensive cryptocurrency trading solution designed to streamline trading activities and equip traders with unparalleled features and insights.

‍

Crafting the Ultimate Trading Solution

With our client's goals in mind, we integrated an impressive array of advanced crypto trading tools within CoreTerminal. These include dynamic profit targets, Fibonacci levels, bracket orders, and average-in orders – all seamlessly woven together to provide traders with a winning edge in navigating complex and volatile markets.

‍

A Symphony of Connectivity

Understanding the paramount importance of seamless connections in trading, we integrated API connectivity across multiple exchanges within CoreTerminal. This integration, backed by robust API keys storing system, ensures traders experience uninterrupted connectivity, enhancing their trading experience and providing an extra layer of security.

‍

Navigating the Crypto Cosmos with CoreTerminal

CoreTerminal isn't just another trading tool – it's a transformative asset that simplifies the intricacies of cryptocurrency trading while empowering traders with insights and tools needed for success. Our client-centric approach to software development ensures that CoreTerminal offers a streamlined interface that makes advanced trading tools easily accessible, regardless of expertise.

‍

Whether an experienced trader seeking to refine their strategies or a newcomer eager to explore the world of cryptocurrency trading, CoreTerminal caters to each one's unique needs. Every aspect of CoreTerminal reflects our dedication to innovation, making it an indispensable tool in their trading journey.

‍

CoreTerminal - Empowering Your Trading Experience Today.

In today's rapidly evolving global landscape, businesses are constantly seeking innovative approaches to maximize efficiency, reduce costs, and stay ahead of the competition. One such strategy that has gained considerable traction is outsourcing. 

By entrusting specific tasks or operations to external vendors or specialized service providers like Quantox Technology, organizations can focus on their core competencies while benefiting from cost savings, access to skilled talent, and enhanced flexibility. However, as the business environment continues to evolve, so does the outsourcing landscape. 

In this article, we will explore the future of the outsourcing business model, examining emerging trends, shifting paradigms, and potential use cases.

‍

The Statistics Behind Outsourcing Business Model

To begin, it is crucial to highlight some key insights from various research conducted throughout the past few years that shed light on the outsourcing landscape and its potential trajectory. While each source provides a unique perspective, they collectively indicate several common trends and themes. 

According to a survey conducted by Deloitte, 70% of companies reported that they currently outsource or plan to outsource a portion of their operations. This demonstrates the enduring appeal and relevance of outsourcing as a strategic business approach.

Moreover, the research emphasizes the importance of global talent in outsourcing strategies. It highlights how organizations can leverage outsourcing to access a diverse range of skills and perspectives, resulting in enhanced innovation and problem-solving capabilities. This aligns with the notion that outsourcing enables companies to tap into a vast global talent pool, facilitating access to specialized expertise that may be scarce or costly to acquire internally.

Additionally, the Statista research provides insights into the future of IT outsourcing and the impact of emerging trends such as Robotic Process Automation (RPA), Artificial Intelligence (AI), and Machine Learning (ML). These technologies have the potential to revolutionize traditional outsourcing models by automating repetitive tasks, improving efficiency, and enhancing the quality of service delivery.

‍

Evolving Strategies: Navigating the Future of Outsourcing

‍

Looking ahead, the future of the outsourcing business model holds immense potential. As businesses strive to stay competitive and adapt to changing market dynamics, outsourcing will play a vital role in their strategies. Here are some key trends and developments that are shaping the future of outsourcing:

Specialized Skill Sets: 

The demand for specialized skills will continue to grow, and organizations will increasingly rely on outsourcing to access these skills. Whether it's technologies like blockchain, cybersecurity, or data analytics, outsourcing provides a cost-effective way to leverage niche expertise.

As technology continues to advance at a rapid pace, specialized skills are becoming increasingly important for businesses to stay competitive. According to a study by Statista, the demand for professionals with expertise in emerging technologies is on the rise. 

For example, the growing significance of cybersecurity and data analytics is driving the demand for professionals in these fields. As the volume and complexity of cyber threats increase, organizations need to ensure their data and systems are secure. Outsourcing cybersecurity services to specialized providers with expertise in threat intelligence, incident response, and network security can help businesses mitigate risks effectively.

This is where Quantox Technology excels as a leading outsourcing partner. With a proven track record in blockchain development, cybersecurity solutions, and data analytics services, Quantox offers the ideal skill set to tackle the challenges of the future and give organizations access to a highly talented team proficient in threat intelligence, incident response, network security, statistical modeling, predictive analytics, and machine learning.

‍

Data Security and Compliance: 

With increasing concerns over data security and privacy, organizations will place greater emphasis on selecting outsourcing partners with robust security measures and compliance frameworks. Service providers will need to demonstrate their ability to handle sensitive data and adhere to relevant regulations.

Data security and compliance are critical considerations when outsourcing. Organizations must ensure that their outsourcing partners have comprehensive security measures in place to protect sensitive information. This includes implementing strong access controls, encryption, and secure data transmission protocols.

In addition to security measures, compliance with industry regulations and standards is essential. For instance, in healthcare, outsourcing providers need to adhere to regulations such as the Health Insurance Portability and Accountability Act (HIPAA) to ensure the privacy and security of patient data. Organizations should thoroughly assess the outsourcing partner's compliance track record and certifications to ensure they meet the requirements.

According to a report by PwC, 88% of companies surveyed were concerned about third-party data privacy and cybersecurity risks. To address these concerns, organizations are implementing stringent due diligence processes when selecting outsourcing partners. This includes conducting comprehensive risk assessments, performing security audits, and establishing contractual agreements that define data security and compliance requirements.

‍

Automation and Artificial Intelligence: 

As mentioned earlier, the adoption of automation technologies such as RPA, AI, and ML will reshape the outsourcing landscape. These technologies will streamline processes, improve accuracy, and enable service providers to deliver enhanced client value.

Integrating automation technologies in outsourcing operations is transforming how tasks are performed. Robotic Process Automation (RPA) is being widely adopted to automate repetitive, rule-based tasks, reducing errors and increasing efficiency. According to a report by Grand View Research, the global RPA market is expected to reach $10.7 billion by 2027, driven by the need for cost optimization and process efficiency.

Artificial Intelligence (AI) and Machine Learning (ML) are also reshaping the outsourcing landscape by enabling intelligent automation and data-driven decision-making. AI-powered chatbots are increasingly used in customer service outsourcing to provide quick and accurate responses to customer queries. ML algorithms analyze large volumes of data and generate insights, improving forecasting, fraud detection, and personalized recommendations.

The benefits of automation technologies in outsourcing are significant. They lead to reduced manual effort, faster processing times, improved accuracy, and cost savings. Service providers that embrace automation can offer enhanced value to their clients by delivering services with greater speed, efficiency, and quality.

‍

Enhanced Collaboration: 

Effective communication and collaboration are crucial aspects of outsourcing partnerships, especially when working with remote teams or globally distributed service providers. At Quantox Technology, we recognize the significance of seamless collaboration, and our advanced communication tools and platforms facilitate efficient project management and knowledge sharing.

Cloud-based collaboration tools, such as project management software, document-sharing platforms, and video conferencing solutions, enable real-time communication and collaboration across different time zones and geographical locations. These tools enhance transparency, enable seamless coordination, and promote a shared understanding between the client and the outsourcing provider.

In a survey conducted by Deloitte, 60% of companies stated that effective collaboration and communication are the most critical factors in successful outsourcing relationships. As your trusted outsourcing partner, Quantox Technology is committed to bridging the gap between internal teams and external service providers, fostering strong working relationships, and ensuring the achievement of shared goals. 

‍

Sustainable and Ethical Outsourcing: 

As businesses increasingly focus on corporate social responsibility, sustainability, and ethical practices, they will seek outsourcing partners who align with their values. This includes considerations such as fair labor practices, environmental consciousness, and social impact.

According to a survey by Nielsen, 66% of consumers are willing to pay more for products and services from companies that demonstrate a commitment to positive social and environmental impact.

Environmental consciousness is also a growing concern. Businesses are increasingly seeking outsourcing partners that embrace sustainable practices, such as reducing carbon footprint, implementing eco-friendly initiatives, and promoting recycling and waste reduction.

To ensure sustainable and ethical outsourcing, organizations should conduct thorough due diligence on potential service providers, assessing their corporate social responsibility policies, certifications, and track records. 

‍

Customer Experience Focus: 

Customer experience has become a key differentiator for businesses across industries. Organizations are recognizing that outsourcing can be leveraged to enhance customer service, improve response times, and deliver personalized experiences.

Outsourcing partners can provide dedicated customer support teams trained to deliver exceptional service and efficiently handle customer queries. This includes support through various channels such as phone, email, chat, and social media, ensuring seamless omnichannel communication.

Moreover, service providers can leverage customer data and analytics to gain insights into customer preferences, behavior patterns, and pain points. This data-driven approach enables businesses to deliver personalized experiences, tailored recommendations, and proactive support.

According to a report by Salesforce, 84% of customers consider the experience provided by a company as important as its products and services. By outsourcing customer experience functions, organizations can leverage service providers' expertise and specialized skills to enhance customer satisfaction, loyalty, and advocacy.

‍

Embracing the Shift: Unlocking the Potential of Outsourcing with Quantox Technology

‍

It’s undeniable that the future of the outsourcing business model looks promising, driven by evolving technologies, increasing globalization, and changing market dynamics. The reports and surveys indicate a continued upward trajectory for outsourcing, with a focus on IT staff augmentation, access to global talent, emerging technologies, and optimized operational efficiency.

Quantox Technology multiplies the benefits of outsourcing: cost savings, access to specialized skills, and increased flexibility.

By entrusting non-core activities to our expert team, your organization can focus on core competencies and strategic growth.

As the future unfolds, those who embrace the potential of outsourcing and adapt to emerging trends will be well-positioned to thrive in a highly competitive global marketplace.

Partner with Quantox Technology today and unlock the full potential of outsourcing to drive growth, innovation, and sustained success. Let’s Talk!

‍

WHAT A GAME!

After 4 exciting days and a fair play fight - we have the champion of HIT CS:GO Vol.4!

Traditionally held in April, the HIT CS:GO tournament gathered the IT community again for the 4th time in a row.

The number of registered teams, companies and fund donations exceeded the previous years - over 40 teams from more than 35 companies competed in the famous Counter Strike: Global Offensive game!

In 2023, the tournament was dedicated to the youngest, with the goal to improve conditions in maternity hospitals and together we collected 2,291,900 RSD!

HIT 2023 WINNERS:

🥇 Quantox Technology

🥈 Vega IT

🥉 Levi9

We spoke to the winning Quantox team - Miloš Aksentijević, Marko Mitić, Luka Petrović, David Simonović, and Dušan Savanović - for the BTS of becoming a HIT CS:GO champion.

What are your impressions of the HIT Vol.4 tournament? How would you describe the atmosphere this year compared to previous years?

The whole team is united as much as coordinated!

Miloš Aksentijević / Ax.

The impressions are very positive, and the first place contributes a lot to that feeling. The idea is great and I would like it to expand so more teams and donations are coming from year to year.

Luka Petrović / hJk-.^

As in previous years - very positive impressions, a noble goal, and good banter.

Dušan Savanović / dukizen

The impressions are phenomenal! First of all, we love CS:GO, and especially the fact that this is the same team that has been playing and hanging out together for years. Also, the support from colleagues and the entire company truly surprised us and it was nice to see cheering in such a large number!

Who was the most challenging opponent during the competition?

The score shows!

Milos Aksentijević / Ax.

I couldn't decide on one team, so I'll say Levi9 and Vega IT. 

Levi9 seemed to have people who are very good at shooting, maybe even better than Vega. However, Vega was a tactically more prepared team.

Marko Mitić / MiTke-_o

Levi9 and VegaIT definitely. We won Levi9 with a score 2:0, but both maps were very close, and VegaIT took one map from us. If I have to choose one opponent - it would be Levi9.

Dušan Savanović / dukizen

From my perspective, definitely Levi9. Although we met them in the semi-finals, it was clear that the game was played at a much higher level, and this was shown on the first map, Vertigo, where we played as many as three overtimes. The boys from Levi showed a really competitive spirit and we had a really good match.‍

‍

We witnessed a very tense final of the tournament. Were there any decisive moments in the match and which tactics made the difference?

Maps & tactics - a winning combination!

Miloš Aksentijević / Ax.

Maybe there weren't so many decisive moments, but there were a lot of different tactics from our side. The idea was to occupy as much space as possible on the map, play more aggressively as CT, and make faster rotations. 

Luka Petrović / hJk-.^

I wouldn't say that there were any decisive moments. On our map peak and on the third map we played superbly, and the tactic was not to give them space to play their game - to attack and occupy space.

David Simonović / Unik ACM

There was tension in the final - as in every game. The opposing team led in some moments, where various factors had an effect. Primarily, it was a drop in concentration, which had the greatest impact during the game, and further, there have been short breaks between the semi-final and final matches.

Did you expect to win?

Expectations are expectations - and the result is in the end!

Marko Mitić / MiTke-_o

Honestly, yes... we knew it wouldn't be easy, but we were sure that we could win the tournament.

Luka Petrović / hJk-.^

Yes, because when it was announced that HIT will be organized again this year, we started to prepare and gather 2-3 times a week and play.

Dušan Savanović  / dukizen

I definitely didn't expect us to win and I can't say that my teammates would agree with me here. Not because of a lack of self-confidence, but because of the very fact that every year the tournament has attracted very good teams and players.

We believe that in addition to the tense fight, there were also plenty of laughs. Share some interesting anecdotes from the tournament :)

Enjoy the game!

Miloš Aksentijević  / Ax.

There was a lot of laughter and cheering, which is probably the key to our success. At no point did I feel like we were losing and that we didn't have a solution, so this made us play a very calm game at the top level.

David Simonović / Unik ACM

The whole tournament passed in a relaxed rhythm without tension, and that is the purpose - to enjoy the game, and victory comes just as a bonus!

Dušan Savanović  / dukizen

There was a lot of laughter, but I will point out one anecdote. Our teammate and colleague Mitke (Marko Mitić) is often overrun by planes when we play. It's not because he lives next to the airport - but because he plays the game on his laptop, which gets quite loud after a while.

So we persuaded him to put a “push to talk“ button to avoid those loud noises. During the finale, at one point, Mitke forgot to release that button, so we just heard Luka shout: MITKE AIRPLANE! 

And we really had a good laugh!

Laughter is a cure. Good competition is healthy. Enjoy the game. Help the community.

We are proud that HIT lasts and unites.

See you next year!

‍

Over the past few years, Data and Artificial Intelligence have become the most trending technology used across all industries. Yes, technology (singular) because Data and AI need to work in synergy to generate the best results. 

By the time the term 'Data' was coined, there was already so much of it that IT professionals and computer scientists quickly realized that sorting out and parsing all the data and, at the same time, analyzing the same data would be impossible for humans. They knew that if anything could help, it would be AI algorithms that would be able to derive valuable real-time insights from that much data. 

The merge of these two disciplines created a technological boom changing businesses left and right. But how exactly?

AI for Business

‍

‍

Unlike a decade ago, the internet is now filled with data providing important information about consumer habits, likes, dislikes, personal preferences, and activities. This type of data, when paired with AI technology, can help businesses:

• boost efficiency with various process automation solutions
• improve consistency and speed of service
• use customer insight and review to inform decision-makers
• discover new opportunities for new products and services
• it can detect fraud threats
• optimize supply chain operations

We could list the benefits of AI for business for days. However, many people would still need clarification, a concrete example, about how to get a taste of some of these benefits and how they can improve their business operations with AI. 

‍

‍

Here at Quantox Technology, we believe in a practical approach and the power of learning. With more than 550 IT experts, our team has some of the best mentors in the industry, ready to convey the usage and possibilities of their products in the simplest way. 

Quantox E-commerce AI Solution Use Case

The Quantox team was introduced to an e-commerce client that needed an AI solution to simplify one part of their working process. Our client had an online furniture store where they sold design furniture and artwork. So naturally, they've set up a webshop with thousands of furniture listings where you can filter your search based on your preferences. For example, you could filter furniture by type (beds, couches, sofas, tables), color, manufacturer, material, and many other specifications.

That meant every product needed a string of descriptive words in their specifications for their search filter to work. For example: If you wanted a black table, you would get a listing of any product that mentions the words "black" and "table." But if you wanted a "Sanne Protin black dining table," if labeled correctly, you would get only one result. 

THE PROBLEM

However, the client's problem was not labeling products correctly, rather than the labeling process being money and time-consuming. At that time, their products were being labeled manually, meaning they needed to pay people to input labels individually. 

OUR SOLUTION 

To fix this problem, the Quantox Data & AI team proposed they create an automatic labeling system that will save them valuable resources. We created an AI system that takes an ad as an input and returns "labels" as an output, meaning product type, color, manufacturer, and material. In terms of business, the result was a significant decrease in the labeling cost and time to obtain the labels, which generally sped up the entire listing processing, had a considerable impact on their business, and positively affected their business efficiency.

Translating Human Problems to Data Problems 

1. ASKING THE RIGHT QUESTIONS

So, we were building this system. It's a simple task for a human but could be difficult for a computer. To successfully transfer this business problem into a data problem, we must ask the right questions.

 What would a human do if they had the task of labeling the products?

The trick is to answer these questions in as much detail as possible. For example, some would say, "well, a human would read the description," but the correct answer is, "the human would look at the listing." That means our internal conversation would look something like this:

‍

‍

Through questions, we slowly realize that humans would look at the image and type in what they see. For example, they see a black table, so they would type that it's a table and it's black. They could also read the description to see who the manufacturer is and what material was used. 

2. DRAWING THE RIGHT CONCLUSIONS

The answers to our questions told us our system needs to be able to emulate human behavior. Mainly it needs to be able to "see" the images and recognize objects on them, but also recognize text, read it, and understand the meaning of it too in order to extract the vital information needed for labeling.

Well, what can "identify" objects in AI? Computer vision certainly can. 

And how can a computer read and understand text just like a human? With Natural Language Processing, of course.

‍

3. THE DATA AND AI MODELS

As always, we needed data to apply to our AI algorithm, so we took around 20 thousand pre-existing labels to train our AI models. The diagram below shows how data trained our models and how it was deployed, monitored, and maintained.

‍

‍

On the left side, you'll notice a very important box saying, "hold out a fraction aside." This means we took a small fraction of data from the 20 thousand label batch (about 10-20%), which is the data we did not show to our model. The reason is simple - we wanted to test our model on that data after it's trained. This way, we can see how our model performs on data it hasn't seen before. 

In the middle, you can see that we have two separate models. One that works with images and one that works with text. Each model is tasked to learn different things, and finally, that information is combined to output the desired information. 

The task is simple: "Build a system that says: This listing is selling a lamp, and the color of the lamp is beige-brown-yellow-ish."

We'll learn how this simple task can quickly become a bit more complicated for a computer.

The listings are given as "image+text" pairs, and we're free to choose from a wide arsenal of AI techniques as long as the solution delivers the desired information that is correct for the majority of the time. In the following sections, we describe some methods we opted for.

Our dataset contains around 20 thousand examples similar to this one, containing images of various furniture types: couches, sofas, tables, wardrobes, etc. In addition, the data includes information about where the object is on the image and the product being sold. We used 15,000 examples to train our AI algorithms (training data), while the other 5,000 we used as test data.

Here's an example of what a typical listing looked like.

‍

‍

‍Disclaimer: The product shown in the photo is for illustration purposes only and does not represent the actual product of our clients. It is used solely to explain and demonstrate the capabilities of our AI models.

‍

QUANTOX COMPUTER VISION MODEL

Our computer vision model was supposed to extract information from the image. We expected it to localize a lamp and tell us that it is, in fact, a lamp. To do so, our algorithm needed to perform two tasks: object localization and image classification. 

A bounding box consists of 4 numbers representing the coordinates of the box itself:

X_upper_left, Y_upper_left, X_lower_right, Y_lower_right.

Our model, in essence, is a model that tries to predict these four coordinates in an image and assign the label "lamp" to this listing. It does it in such a way that the predicted coordinates should mostly overlap with coordinates provided by humans. At the same time, the product label ("lamp" in this case) should match the human annotations in most cases. 

‍

‍GOAL: Maximize the overlap and assign the correct label.
Now that we know what the model should do let's see how it does it. 

WHAT ARE CONVOLUTIONAL NEURAL NETWORKS?

Each image was run through a convolutional neural network (CNN) tasked with learning the features of the image. Neural networks are made of neurons. Neurons group into layers. Layers hold numbers used to process our data (by multiplication and addition). Those numbers represent the knowledge of our network. Intelligence even, if you will.

The CNN model we created contains 53 convolutional layers. Each layer transforms the image by applying a convolution operation on the image. Convolution is actually a whole lot of additions and multiplication following the pixel grid of the image and some additional rules.

‍

‍

What that means is, at a high level, we plug an original image into the CNN, and it goes through each of these layers sequentially. The output of each layer is a slightly modified version of the original image. These modifications can highlight contours and shapes of interest in the original image or blur and make insignificant contours and shapes disappear.

We program the network to tweak the convolution operation and figure out what these shapes are on its own. Then, we let the network try multiple times until the results are satisfactory according to a predetermined criterion. This process of tweaking the layers (or, more technically, tweaking the parameters of the convolutions) is known as training the neural network. 

When the image passes all 53 convolutional layers, we add another two layers, which we construct in such a way that we can read what the network thinks the bounding box is and what is the object residing in that bounding box. Finally, we read predictions from these final layers. They're tweaked similarly to convolutional layers during training. When this lamp was successfully detected, we cropped out the predicted bounding box, extracted the dominant colors, and gave it its first label - a "lamp."

QUANTOX NATURAL LANGUAGE MODEL

Now that we know how the computer vision part of the solution works, the question arises: "Why do we need text at all? Isn't computer vision all we need because we got the colors and the product?"

Well, not exactly. What if the lamp was labeled differently, for example, "torch"? In this example, it isn't, but there could be a lot of other instances where labels can be nothing more than misleading synonyms. We can't simply rely on one-word descriptions of the product coming from some people we don't even know who labeled these listings. They might have labeled it for a different purpose, who knows. That's why we're complementing the information we extracted from images with the data from text. We're shrinking the margin of error and trying to output results that align with the industry's terminology as much as we can. 

Plus, the computer vision model can detect a lamp and might even detect some sort of cat on the bottom of the lamp. Of course, it's essentially wrong detection (because it's not a cat, but a llama), but the text helps us deal with these cases as well, and now we'll see how.

So, let's get technical. Now suppose that our computer vision model detected both a lamp and a cat.

‍

‍

Now we have two detections: a lamp and a cat. Certainly, a cat is not for sale, nor is it a real cat. It's a cat-shaped pedestal for the lamp, which is probably not even a cat but a llama. This is just to give you a sense of ways these models can be wrong. We need to filter the object detection algorithms' outputs by analyzing text. Remember that the listing description states:

"Created and designed by the famous 20th-century art deco designer Jean-Michelle Jarre, this nightlight can be a great addition to your living room or bedroom for only $99.99". 

Our goal is to search for the words "lamp" and "cat" in this text and find a match. But we would fail if we want to match the exact string of words. There are no words "lamp" or "cat" in the description. But there is the word "nightlight." You'd agree that refers to the lamp. Of course, you would, but how do we build an AI system to figure that out?

That's the goal here. And the tool is, again, a neural network. Specifically, the neural network performing the task of "word embedding," unlike the former network performing the task of "object detection." 

The neural network's inputs are text sequences, and the final output is a numerical representation of the input word. Literally, a sequence of numbers. How many numbers? We can decide that, but the common practice is higher degrees of 2, such as 256 or 512. 

So yes, sequences of numbers, like the lottery, but with one crucial property. When two words of similar contexts, such as "nightlight" and "lamp," are represented numerically, they have similar representation, again by some predefined criteria. However, when words of vastly different contexts are represented numerically, these representations are different, such as "lamp" and "truck," for example.  

So we create a neural network consisting of layers, except they're not convolutional. They're different types of layers, each connected and the final layer from where we can read predictions. Like most NNs, this one also has to predict something, and by tweaking this network, it learns which words frequently co-occur, effectively meaning that the network learns which words are contextually similar. Its knowledge is represented in its layers, which we then extract from the network and use as our "numerical representation of the words themselves." 

When this is trained, we get a numerical representation of all the words from the listing description and all the words from the object detection model, namely, "lamp" and "cat." Now we measure the similarity between the word "lamp" and all the words from the description individually and then repeat the process for the word "cat." The similarity score is a cosine (remember trigonometry?) between the numerical representations of two words for which we calculate the similarity. This cosine similarity ranges between 0 and 1, 0 meaning not similar, and 1 meaning identical. 

‍

‍

Now relying on the fact that the listing descriptions are highly likely to mention the product itself or at least some products' synonyms, we can expect that whatever the product is ("lamp" or "cat"), it will have a high similarity score with whatever the product is in the description. 

• In this case, the words "lamp" and "nightlight" have, say, the highest similarity between all the combinations, so we say - "THE PRODUCT IS THE LAMP."  
• The word "cat" will have minimal similarity with the words in the description because the description never mentions animals, cats, dogs, pets, or anything within that context, and context is learned in the neural network, so "cat" will end up omitted. That's how we know - "THE PRODUCT IS NOT THE CAT."

Now let's see the results. 

THE RESULTS

When all this is said and done, and the models are trained and validated, it's time to put them to the test and see how they behave on the data they weren't trained on. Remember that the test data contains the "text + image" and the "location + object" parts. We hide the "location + object" part, obtain the predictions from it, and then compare them with the actual location and object. 

When predicting a product, we achieved 91% accuracy on the training set of around 5k examples. As for colors, the number is at about 70% on the same dataset, but it is a pessimistic estimate based on sampling and employing the naked eye to method to say "this is right" and "this is wrong." The reason for that is that people see colors differently. In the case of our lamp, one person can say "beige," but the other person might say "light yellow." Suppose you convert the color names into an RGB system. In that case, they can differ vastly, so if we calculate the Euclidean distance between "beige" and "light yellow" in the RGB coordinate system, we can wrongly conclude that the model made a wrong prediction. In fact, both the model and the person labeling are right. We believe the actual number is much higher than 70% since the errors mostly come from the edge cases where you can argue it's the same color.

‍THE DEPLOYMENT

Once we've run all data through our models and our models were trained and tested, we deployed the model in production. This means that we need to save the models in some sort of model storage, which could be on some location on our server, on our client's server, or on a cloud storage service of choice. In this case, it was the client's server.

Specifically, we used Flask to create a Python API and Docker for deployment. When the API is called, it triggers a forward pass through the neural networks, which returns some predictions. The application then processes those predictions as described above and returns a response. Finally, the client integrates with our model by calling our API from their application, which gets them the desired information. 

They can then process the information however they see fit, e.g., display them in some sort of drop-down menu on their front end or have radio buttons to help their users filter their search when buying furniture. Here's a diagram describing the solution's architecture at the highest level.

And that's it. We described the process of training a computer vision model, a natural language processing model, we touched neural networks a bit, shining a light on what it means to train the neural network, what are "As" and "Is" in "AI," and how the information obtained from these networks is used in practices to improve the user experience when shopping for furniture online! A lot of math and engineering for such a seemingly simple task, right? However, the work pays off when implemented correctly, especially in the eCommerce industry, where there's a great deal of data and many different types of applications for AI solutions.

‍

Data, AI, and Quantox - a Perfect Recipe for eCommerce Growth!

Transforming your eCommerce business paradigm in 2023 can make your business stand out from the competition by increasing revenue, conversion rates, and the overall popularity of your brand. Integrating AI technology in your eCommerce business gets that much easier with Quantox Technology team of experts that have been providing Data and AI services and eCommerce solutions for years and have a proven track record of success. Our team will take the time to understand your unique needs and develop a customized solution that fits those needs. So, are you ready to unleash the potential of AI for your eCommerce? Let's Talk!

It’s the final curtain call for 2022 and, as 2023 is slowly approaching, it’s already clear that Data & AI (Artificial Intelligence) technologies will play a major role for many businesses in the future. Companies around the globe have already switched their business model and, in some cases, mindset to the digital world and are now looking for ways to bridge the gaps they found in their digital experience. The best solution is now also the talk of the town- Data & AI technology.

With such a wide range of uses in business, from streamlining job processes and aggregating business data, AI is ready to take the two-dimensional technology and surround the consumers with a three-dimensional physical environment.

We probably already interact with AI on a daily basis without even realizing it. However, it is not the same AI most of us imagined, culturally influenced by decades of science-fiction books and movies. Instead, today’s AI can be something most people, especially younger generations, consider a norm, like ”Alexa”.

The idea of AI is not new, but it certainly took a long time to develop. AI technology came into existence in 1956, and it would take decades of developing the technology and systems to get what we have today. Now, Data & AI go hand-by-hand and are even applicable, soon to become invaluable, to any business if they want to ensure success and steady growth. With the potential to simplify the mundane work process and achieve breathtaking results, AI technologies are becoming necessary if you want to gain a competitive edge in any industry. What was once a theory is now a tangible business toll perpetuated by tech giants like Microsoft, Google, and IBM.

So, if you are a business owner looking for a way to transform your business, this article will help you learn about the benefits of Data & AI in business.

What is Artificial Intelligence (AI)?

In order to fully understand how AI technologies can help a business, it’s essential to know what they are. There are many definitions of ”Artificial Intelligence.” Still, the broad term is that ”AI is any computer software that engages in human-like activities like learning, planning and problem-solving”. A bit vague, huh? It’s like saying your colleague is a ”human”- it’s technically correct but doesn’t specify anything. We must go beyond the basic definition and scramble through the details to learn more about different types of AI and where artificial intelligence is used.

Machine Learning

One of the most used AI technologies in business must be machine learning. Machine learning uses algorithms that process large amounts of data in an extraordinary short amount of time. Plus, those algorithms have the ability to ”learn” over time. The more data the algorithm processes, the more its modeling improves.

For example, you own a factory with all sorts of different machinery, and you need each and every one of those to work like a clock. This is where AI comes in. A large amount of data about the functionality and production of your machinery goes into a central location where, thanks to AI technology, a human worker is presented with real-time information about the condition of your machinery.

Such quantities of data and patterns are impossible for a human to sift through, and that’s why AI technology plays an important part. Machine learning can process all the data more rapidly, recognize the patterns and anomalies, and finally notify the decision-makers if maintenance or a repair is needed.

Deep Learning

The development of an interconnected web of artificial intelligence ”nodes” is also known as deep learning. It is a specific type of machine learning relying on neural networks to engage in nonlinear reasoning. Sounds confusing, right? So let’s try to simplify it.

There’s been a lot of hype around self-driving cars, and understandably so. The idea that a vehicle could make the right decisions in traffic as a human would is revolutionary, but thanks to deep learning, today it’s a reality. Self-driving cars use deep learning algorithms to process data collected from their sensors. Information like the distance from other objects and their speed, predictions of where those objects will be in 10 seconds- all that data helps self-driving cars decide when to change lanes. Moreover, deep learning models can improve with every bit of data they process.

Data & AI in Business Today

While the idea of AI was still fresh and developing, many feared that AI could and would replace humans and their job positions. Still, rather than taking over the world, AI today serves as a supporting tool for all of us.

AI technology still has some difficulties completing common-sense tasks in the real world, but what it can do is process data- and fast! By analyzing data faster, AI can also present us with every possible solution for our problem and the consequences of each action. This can help businesses streamline the decision-making process.

For decades, data collection has been a central business practice but impossible for any individual and company to use efficiently. Why? There’s simply not enough time to interpret all data. However, with AI-enabled applications and other digital tools, businesses can collect real-time data from an established database and learn about their consumers’ problems and preferences. Once they know that, they can easily increase efficiency, personalize their product or service, make informed decisions, and reduce costs. All this will eventually lead to increased revenue.

Common Uses of AI in Business

While there’s more room for AI to grow, as it inevitably will, today, we use artificial intelligence technology in the following ways.

• Machine learning: is often used in systems with a large amount of data. AI helps contextualize that data so the company’s decision-makers can understand energy usage or maintenance demands.
• Customer Relationship Management: CRM systems are rapidly changing with AI technology into a self-updating and auto-correcting system that helps businesses stay on top of their relationship management.
• Internet and Data research: AI has become irreplaceable when it comes to providing internet users with customizable experiences. Now, businesses of all sizes and types can easily target their specific audience without relying on the users’ search box. Thanks to AI, the right information is finding its way to the user now.
• Digital Personal Assistant: businesses can leverage Data & AI in many different ways, not just by transforming their services and customer relations. Artificial intelligence can help reorganize a company’s operations and streamline the workflow. Everything from emails, calendars, and work processes can be done with the help of AI personal assistant bots. So, by leaving smaller tasks to AI, employees, managers, and decision-makers can dedicate themselves to developing strategies that will increase revenue and boost company success.
• Cyber-security: AI serves as a 24/7 ”extra set of eyes” that monitors data input patterns, finds anomalies and threats, recognizes cyber-attacks, and backtracks to their source. It can also prevent future threats.

How Can AI Improve Business Processes?

Do you want to start using artificial intelligence technology in your organization but still don’t know which processes you can and should automate with AI? The latest Data & AI reports show that many industries that implemented this technology are already experiencing major growth in revenue just by automating a portion of their business processes. Well, let’s learn more about the stronger points of AI technology to know how a business can use artificial intelligence to their advantage.

Five Things AI is Just Better At

AI technology is a long way from surpassing human intelligence and has its limits, but there are some things where AI technology is a better solution. Easy to adopt and implement in any business practice, AI is very good at interpreting visual, text, and speech formats.

Visual

Many industries use visual tracking in order to increase productivity and efficiency. This is only possible with AI and its vision-trained capabilities that range from storing and captioning documents to supporting IoT (Internet of Things) sensor arrays.

In short, you can train AI technology to process, identify and search images using computer vision and later use it for things like tracking clinical workflow, automating inspections for a manufacturing process, or even monitoring store conditions.

Speech

So we are back to Alexa or Siri as an ultimate proof of just how much users and consumers love to be engaged. Customer engagement, in this case, excelled thanks to the AI technology converting speech to text and vice versa. You can also use this AI benefit for company staff training.

Knowledge

By mapping information, providing recommendations, and supporting semantic search, AI can be used to improve user experience and offer your consumers information they’ll actually find helpful.

Search

The profile of your everyday user has changed, and newer generations of consumers will be hard to satisfy and engage. Accuracy and search engine speed are the key to success. Still, they can only be achieved by using AI to enhance your search functionality while enabling it to use images, videos, web pages, and more to give your consumers exactly what they need.

Language

We’ve come a long way from communicating to technology in 0’s and 1’s, and today we can even hold a real, full-sentence conversation with it. Thanks to Natural Language Processing (NLP), businesses can integrate bots to chat with consumers. This type of AI technology can translate languages and even recognize sentiment, letting you know whether your consumers are satisfied or not.

How to Manage Data & AI in Business?

With great data comes great responsibility- this is something every business owner should know. You can quickly improve products and services with AI by using the data and increasing its value, but only if you manage and secure your information and protect your business, employees, and customers.

If you own a business that uses AI technology, you should have a comprehensive data management strategy for:

• access
• authentication
• creation
• privacy
• processing
• security
• storage

Cyber-criminals target other businesses’ information by looking for emails, addresses, phone, and account numbers. It is a significant concern of every business, regardless of the size or industry. AI technology can tackle a great deal of tasks related to security of any organization by fine-combining through all patterns and finding any anomaly within milliseconds.

5 Steps to Take Before Implementing Data & AI in Business

Using AI technology for business may be the next best thing, but you should still take steps before transforming your business with AI-based tools.

Step #1 Ask Important Questions

Using the latest AI technology trends can be beneficial for a business only if the right trend is picked and implemented. With that being said, don’t dabble in trends that offer little to no benefits to your business or industry. Instead, ensure that the AI technology is the best tool you can use for your specific industry, business size, and model. Ask yourself if AI can be used to boost your business, but also how you or your users can misuse it.

Step #2 Stay Human-Oriented

Remember that humans created AI technology and, as such, it is prone to mistakes. Dispose of the idea that you’ll create a mistake-free environment by replacing a human employee with AI technology. Always keep this in mind as you review the results your AI provides.

Step #3 Stay Unbiased

Believe it or not, human bias can affect the AI algorithm in many ways, so carefully choose the data set you’ll use as you create a training model. Also, ensure that the creator hasn’t unintentionally programmed their own bias into your AI.

Step #4 Explain Your AI

Your users or stakeholders will want to know the logic behind your AI and how it reached a particular conclusion. Explaining your AI’s decision-making process will help you maintain trust between you and all other parties.

Step #5 Use Data & AI Responsibly

Since AI technology can be quite a powerful tool, it mustn’t fall into the wrong hands. Responsible AI refers to frameworks that ensure businesses act transparently and ethically with AI technology. So ensure you can follow all government regulations regarding using AI technology before you even create an AI business strategy.

The Future of Data & AI

While we can’t predict the future, it is clear that Data & AI technology will become an even more integrated part of the workforce. With the potential to replace many human jobs, this technology can also lead to the specialization of employee skills. Where AI will take over data analysis, people will be required to cultivate qualitative skills like creativity and problem-solving.

With further technology development, we’re bound to see new business applications, consumer uses, and new startups emerging. The Internet of Things and Data & AI make a powerful combination that can easily change the economy. With so many benefits of artificial intelligence, those companies that utilize this technology in the right way can make it to the top in no time, completely turning the tables for themselves and their competition.

Start Your Data & AI Journey with Quantox Technology!

Quantox Technology ensures the best professionals in the field create your AI solutions. Our Data & AI experts have over a decade of experience building reliable AI applications engineered to scale your business and increase revenue. Discover the potential of AI technology and benefits of big data and how it can ensure long-term success for your business with Quantox Technology. Let’s Talk!

‍

Artificial Intelligence (AI) has always been wrapped in a veil of mystery, looked upon in pure awe or fear. Regardless of how much we all want flying cars, we also vividly remember the plot of the Terminator movies. However, whether we think the future of AI will be bright or bleak, it’s already here, and it’s promising to be a 5-star rated one.

AI technology is already playing such a big part in our day-to-day life. So much so that, during the worst case of pandemic a world has seen in the last century, AI technology was what kept many businesses afloat, changing their services, products, and strategies forever. It also gave those companies a considerable boost in revenue and led to cost reductions, making AI technology and implementation one of the leading business strategies in 2023.

There are thousands of surveys, case studies, and reports on the future of AI in the business world. From global to local reports, predictions, and industry-specific details, AI technology has been the ”talk of the town”. After all, the data and numbers never lie, and AI has proven to give magical business growth percentages every business owner would want.

‍

‍

Most Important AI Business Statistics

• By 2027 the global AI market value is expected to reach more than $260 billion.
• AI could contribute more than $15 trillion by 2030 to the worldwide economy.
• As much as 37% of all businesses and companies have integrated AI into their processes.
• 9/10 of leading global firms investing in AI technologies.
• While AI will eliminate 85 million jobs by 2025, it will also create 97 million new ones.
• Today we have more than 3 billion voice assistants in use, but next year we’ll have 8 billion.
• By 2025, the AI industry will be earning around $126 billion annually.
• more than 67% of US citizens believe self-driving cars are safer.
• 25 countries worldwide are currently designing self-driving vehicles.
• The autonomous car industry could be worth more than $600 billion in the next five years.

Artificial Intelligence Business Usage

Companies worldwide use AI technology to automate some parts of the work or help their employees achieve better results. However, looking at AI across all industries, we notice that while some have everything to gain through AI, many sectors are still dipping their toes into AI and how it can be used to its fullest capacity.

• By 2030 AI will help boost the GDP of many local economies. China is expected to be the leading one with a gain of 26%.
• Startups that used AI received more than $7.4 billion in funding during the second quarter in 2019.
• According to Gartner’s 2020 report, more than 37% of businesses used AI technology in their workplace in 2019.
• There was $57.6 billion of spending on AI and cognitive systems in 2021 globally.
• From 2015 to 2019, the number of companies that implemented AI in business grew by 270%.
• 38% of healthcare providers use AI technology for diagnosis assistants.
• 52% of all telephone companies employ chatbots (AI technology).
• The public opinion about AI technology is turning positive, and now, more than 50% of consumers are agreeable with AI.
• More than two-thirds of consumers are agreeable with AI helping boost customer engagement.
• 26% of all consumers interact with AI on a daily basis.
• The Wearable AI market size is predicted to grow to $180 billion by 2025.
• One-third of commerce consumers prefer to interact with AI.
• More than 52% of consumers are doubtful about AI protecting their private information.
• 4/10 consumers trust that companies using AI are more careful about customer data.
• Netflix’s AI recommendation engine is worth $1 billion a year.

How Do Businesses Adopt Artificial Intelligence?

According to Forbes, 4 out of 5 companies are putting AI as top priority business strategy for their organizations. A staggering 83% of companies claim AI strategies they implemented are the reason behind their growth and success.. One of the most common ways companies use AI is through chatbots and automated emails, simplifying everyday business communication and saving time, and those are just some of the many benefits of AI implementation.

33% of organizations have started implementing AI technology in some capacity, while 25% have fully developed AI-enabled processes. As much as 21% of all companies already have a few strategies and concepts and are looking to scale, but only 14% have had concepts with limited success. A small percentage of organizations, 7%, don’t use AI but are interested and currently looking for a way AI can help increase their revenue and overall boost their organization’s success.

Analytics Insight reports that 80% of retail executives will adopt AI at some level by 2025. The majority of the executives say that in the next three years, their company will be using AI.

How To Leverage Data, Cloud, and Analytics in Business?

According to the PwC report, most companies that work with AI reported promising proof of concepts that are ready to scale. But some companies use AI in a more advanced way and are achieving incredible results like significant ROI.

What those companies are doing right is using data and AI not to solve only one problem but adopting AI for business transformation, enhancing decision-making, and modernizing systems and processes. According to the report, the holistic approach to AI implementation in business had the best results.

The holistic approach enables fast AI success, and leaders should be looking to invest in and manage data, AI, and the cloud as a whole. A Holy Trinity of AI, if you will, but taking on this approach will deliver more value at scale because it means data from inside and outside the organization is being analyzed constantly.

The Value of AI in Business

More than 44% of organization leaders think real AI value is realized in automation, increasing productivity. Next, as much as 41% of all leaders think AI solutions improve decision-making, while 40% of all executives believe AI helped them improve customer experience. Finally, products and services innovation values of AI were also one of the significant points for 40% of CEO and leaders.

Decision-Making with AI solutions

Business leaders know just how vital decision-making is, but how does AI help exactly? To make an informed decision, you’ll need a lot of information, do some fact-checking, calculate the risks, and do a prediction analysis. AI technology can simply analyze and process a lot more data than any human being.

For example, suppose you want to optimize pricing. In that case, AI can analyze historical data on margins, supplier costs, product sales, and customer satisfaction and then estimate possible solutions and scenarios. It can show you how your competitors may change their prices, make an analysis with the predictions of future economic events and enable better decision-making. And with the combination of edge computing AI can make that analysis and give you solutions at lightning speed.

More than 74% of leaders said AI is used to make technology decisions within their organization, and 62% said it is used for operations and maintenance. In comparison, 61% of leaders claim AI is used to boost customer experience.

How Can Companies Implement AI?

Start From The Back

Don’t start with data if you’re considering adopting a new AI model for your business. Instead, go backward and think about the outcome you want, then look for the data to back up your goals. Next, you need to consider other decision-makers using this model in the same way, where the model will fit in the decision-making process, cloud integration, monitoring, scaling, improvement, and finally, a retirement plan for the model. Make sure to learn more about the latest Data & AI trends and how they can help you navigate the change to a new business model.

Leave the Data to AI

Many companies have tons of messy, unstructured data, whether it’s documents, images, or videos. Just tell your AI what kind of data you need to achieve the desired result, and it will sort through all the mess before placing only the most vital data in front of the company’s decision-makers.

Focus First, Scale Later

Having a holistic approach to AI business implementation doesn’t mean you have to do everything simultaneously. Instead, start from the essential functions you want to simplify or automate within your organization, then scale up to other and more complex tasks.

AI Simulations in 2023

If there’s one thing all survey respondents (as much as 96%) agree on is their plan to use AI simulations in 2023. A compelling feature, AI simulation can provide detailed, real-time insight into a company’s real-time performance.

Just imagine creating a simulation of all suppliers, customers, competitors, weather, economics, and whatever variable you need and be able to predict supply chain pricing flow, both dynamics and disruptions. Now, you can plan a navigation strategy by knowing what will happen.

57% of leaders from the survey plan to use AI simulations for market conditions forecast, while 54% will use AI simulations to support financial, sales, and marketing planning.

AI simulations can also help hire and train employees, with almost two-fifths of surveyed companies already doing so. In addition, AI-powered simulations give room for better virtual recruiting, finding candidates worldwide, and managing and monitoring remote workers.

AI Labor Market Solutions

Labor market challenges are present in any industry, but 98% of companies believe AI can help overcome these challenges. In addition, many companies put great hopes in AI by automating their processes or reducing their hiring needs.

However, AI has its own labor market challenge: a lack of AI talent and a high cost of the existing AI talent. However, holistic AI companies know that AI initiatives increase revenue and are not paying much attention to the lack of AI talent. They know it’s money well-spent. As a result, those companies are 1.5 times more likely to leverage third-party vendors like managed services providers with a complete AI workforce.

Find Your Data & AI Talent in Quantox!

Quantox Technology Data & AI experts can help you adopt and leverage artificial intelligence and optimize many different work processes within your organization, by completing essential data gathering and analysis that can help streamline your operations and enhance your business’s profitability. Let’s Talk

‍

Although AI technology is not new, it’s beginning to have a significant impact as businesses realize the potential and the possibilities new Data & AI trends offer. With AI today, companies can transform and create new opportunities in almost every industry.

“If you want to think of a new thing, the new thing that is going to be most attractive is going to be something that you can do with scaled AI,” said Whit Andrews, vice president, and an analyst at Gartner Research. However, not many know that behind the magic of scaled AI is a significant amount of data being processed and labeled. Therefore, it’s imperative that companies realize their data needs to be in order before they see what scaled AI is capable of.

Now, in 2022, we’ve seen AI trends emerging, promising scalability to any business, regardless of size, type or industry and those trends are going to be even more popular in 2023. So what are those AI technology trends, and how can they impact companies and their digital transformation efforts? Let’s find out!

#1 Large Language Models

Language Models are AI models that rely on machine learning to, in simple terms, learn how to speak our language. These models determine how sentences, phrases, or even paragraphs are related by processing a considerable amount of text and building a model. That model understands how we, as humans, use language and copies our semantic techniques to output a more human-like interaction.

AI language models have come a long way from being fine-tuned by us. Today, your AI can learn and solve a new problem in only a few training examples. In the business world, this means that the cost of artificial intelligence is now reduced, and it’s easier and more affordable to automate many business processes.

#2 Natural Language Processing

Not only is AI able to copy our way of communicating, but it’s also able to understand what we are saying. NLP or natural language processing is the “ability for a computer to understand the meaning of text or speech.” Do the names Siri, Alexa, and Cortana sound familiar? That’s precisely what NLP does- it creates technologies that can understand what people say and then make appropriate actions and give the right responses. Now just think about all the ways one company’s internal NLP-based AI can assist all employees and scale business operations.

Not only is AI able to copy our way of communicating, but it’s also able to understand what we are

#3 Generative Artificial Intelligence

We can consider Generative AI to be a whole different branch of AI, like that one cousin we all have that’s exceptionally good at arts. As the name says, Generative AI generates content like images, converts text to images, makes music, and writes the text. It is a strategic AI technology for 2022 and 2023 , according to Gartner. And while making music and generating images doesn’t sound like important work for any business, think about the application Generative AI can have in marketing. To be able to generate human-like grammatically correct text relevant to the topic and give it a compelling visual with only AI can easily change the flow of the digital marketing industry.

#4 Reinforcement Learning

Do you need a way to successfully use AI in robotics, games, data science, and finance? Then you need artificial intelligence focused on decision-making and reward-based training. Reinforcement learning is the keyword here since this branch of AI learns from the environment and then adjusts its behavior to maximize rewards. In other words- it goes by the ‘trial and error’ principle, learns from its mistakes, and does better the next time. Just like humans do!

Only AI won’t fall into the trap of making the same mistake again. If Reinforcement AI comes across a situation it has already “learned,” it will always pick the best outcome and the one that achieves its goals. It’s easy to understand why business owners are most excited about this AI trend seeing the possibilities it can have in boosting any business.

#5 Multimodal Learning

Multimodal learning helps the system learn more about our world, extracting the data needed from images, text, speech, sound, and video. Things we, as humans, instinctively know because of a little thing called commonsense.

“Common sense is the dark matter of artificial intelligence,” said Oren Etzioni, CEO of the Allen Institute for AI, when talking about AI having zero common sense. And until now, AI didn’t know how to grow its own common sense in the same way we humans – through a combination of visual, linguistic, and sensory cues.

Enter Multimodal AI systems. Finally, artificial intelligence can address the lack of commonsense knowledge with these types of systems. For example, the concept of apple for AI includes vision-related information- color, shape, size, and sometimes even texture. But Multimodal AI systems will be able to know that green apples are also more bitter than red apples, that apples can be used to make apple pie, and the reason why apples are considered a sign of appreciation. So, in short, Multimodal AI systems can ”see the bigger picture”.In business, multimodal AI systems can serve as a good tool in digital marketing by recognizing the images and generating automatic descriptions or detecting false news by verifying, understanding, and cross-referencing one text with billions of others.

#6 AI Virtual Reality

The dawn of the virtual world is rising, and it’s all thanks to AI technology. The creation of an online environment is no longer a science-fiction thing but is almost guaranteed in the near future. At the core of virtual and augmented reality are different branches of AI technology trying to solve problems like creating realistic holograms to shape the virtual world. There are many benefits to Data & AI for a business, and Virtual Reality trend is probably the most exciting way to explore most of those benefits.

“Only recently, with the emerging machine intelligence innovations, have we had access to the powerful tools and capabilities to make use of the advances in computer technology,” said Yifan Peng, a researcher at Stanford Computational Imaging Lab.

It goes without saying that pairing AI technology with some of the most popular software development trends like AR and VR can open a whole new world of possibilities for companies. The ways businesses connect and interact with their users can change completely, and those businesses that try it first now will also be first on top.

#7 Computer Vision Technology

A recent Gartner poll showed that companies worldwide are expected to spend more than $670,000 over the next two years just to get their hands on machine vision technology.

This type of AI enables machines to interpret pictures and videos, with algorithms capable of identifying and categorizing items. It’s primarily used in self-driving vehicles, healthcare, manufacturing, farming, and agriculture.

Automated Artificial Intelligence tools will be a way for many businesses to overcome the skill shortage and cut costs. Unfortunately, data scientists are few and far between, and not every company can afford to hire one. So, to generate value from their data, many businesses will use AI-powered tools to analyze data streams, generate ML models and find actionable insights. This will help companies increase revenues, enhance operations and optimize their costs.

How Data & AI Will Shape Business Growth In 2023

As we near the end of 2022, we can say that this year was where companies learned about the power of AI and how to leverage data & AI to spur business growth. Many reports show that implementing Data & AI in certain industries, even if you automate a portion of your daily business processes, can result in a staggering revenue increase. The development of digital services was the primary strategy for surviving the pandemic, but now business’ digital transformation is playing offense with AI-powered solutions.

Many companies have already made investments in AI innovations that are developing and refining at an incredible speed, already creating trends and changing industries. Read on and see how Data & AI shaped business growth in 2022 and will continue in 2023.

• HOLISTIC PLATFORMS REIGN

Most businesses have collected data to solve a specific problem in the past. However, 2021 and 2022 marked the years of consolidations through acquisitions and mergers, which will continue in 2023. Therefore, if enterprises use point solutions, it can lead to conflicting information across all departments.
Machine learning and AI are the way to create holistic DEA (Digital Experience Analytics) solutions that will analyze a large amount of customer data and give a more comprehensive picture of user experience, thus impact organizational efficiency.

• DATA DEMOCRATIZATION

With a shift to a data-driven decision-making mindset in most companies, the data collected needed to be accessible to more people. So, in 2022, data was democratized within an organization, with leaders and departments able to access data, increasing transparency.

The focus on data will lead to a greater need for AI-powered tools, with a particular emphasis on the quality of data and data tracking.

• PRIVACY CHANGES

Many businesses have already adopted Responsible AI solutions, but not all. With the new government rules and regulations regarding data collection and privacy, companies will have to balance being compliant and giving their users control over their data.

In 2022 companies had to find a way to accommodate the regulations and their customers’ desire to be able to control how their data is being used while still having a hyper-personal digital platform experience. Responsible AI solutions are, at the moment, a perfect tool that allows for both and further helps companies make fairness and transparency become consistent practices.

• DATA & AI IT TALENT

Businesses that want to implement automation to increase productivity need to know that automation can be overwhelming. Leaders should start small in order to scale efforts successfully but to do that, they need great data IT talent.
Due to a talent shortage and Data specialists, having an in-house data scientist is no easy feat. The solutions come in the shape of companies that offer services of creating AI solutions tailored for each business.

• SAFER ROADS

There’s a theory that AI is replacing humans and, one day, we will perish because of it, but no one is talking about the dark side of human beings and how AI can help us make this world safer from….well, us. For example, safer from an individual’s uncontrollable desire to operate a vehicle while under the influence. Or perhaps safer from the misfortune of having a drowsy truck driver falling asleep at the wheel because the economic situation caused him to take on more working hours.

These are all possible scenarios happening daily worldwide, often ending up terribly and counting many fatalities. But AI technology can help us, humans, stop taking unnecessary risks by taking a ride with us and keeping us safe.

AI-enabled cameras and sensors built into commercial or personal vehicles can prevent a person from drunk driving by measuring moisture content on the drivers’ hands via sensors located on the wheel. AI can also save drivers from carbon-monoxide poisoning by gaining data through an air quality monitoring system and executing an automated window opening. Such AI-powered systems are needed in order to make professions like trucking safer and more appealing, which would be a great way of solving the current driver shortage.

Implement the Latest Data & AI trends with Quantox Technology!

Connect with some of the best Data & AI specialists in the IT industry here at Quantox Technology – a place where AI innovations are born! From computer vision to natural language processing, we use cutting-edge technology to build reliable AI applications tailored to your industry and a way to scale your business and boost revenue. Want to implement AI in your business? Let’s Talk!

‍

The rise of mobile apps began when businesses realized they could use mobile apps to boost their revenue by reaching their consumers easier. Now more and more companies are jumping on the bandwagon of leveraging mobile apps for business and earning a great deal of profit through the mobile medium. Whether they’re developing in-house applications or hiring a mobile app development company, they all want the possibilities and opportunities which come with having a business mobile app.

Knowing why investing in a mobile app is a smart business move in 2022 is the first step to success. Still, once we go deeper into mobile app development, we uncover other important factors that can lead to either success or downfall. One of those factors is knowing which mobile app development tool to use that will fit the budget and the app's specifications perfectly.

What is App Development Tools, and How Do They Work?

If a mobile app is a painting and the developer is a painter, then mobile application development tools are the brushes. There are many of them, and their usage comes down to the app's requirements but also the developer's personal preferences.

Mobile app development tools are the software used by the developer to build innovative, secure, and scalable applications. These tools will give all the resources to the developer in order for them to build an app that integrates with the device's hardware as well as any other business feature that can lead to high-quality results.

The Best App Development Tools You Can Use in 2022.

Sketching the business mobile app idea is a great way to simplify mobile app development. Having all features, goals, and designs ''on paper'' allows developers to clarify their tasks and goals while building your app and which app development platform they need to build for. Once you have sketched your idea, the developer can go on and choose the best app development tool and platform to make that idea come to life.

Many great mobile app dev tools can help them with this job:

Open-Source

• Framework 7- offers both iOS and Android support, and it can help create an app that has an iOS feel for Android. In addition, it's easy to understand for those who already have excellent knowledge of HTML, CSS, and JavaScript. The most notable features are Material Design UI, custom DOM library, native scrolling, and XHR caching and preloading.

• Ionic- based on the Sass CSS language and cross-platform. It can be used to build advanced apps because it can be integrated with AngularJS. Ionic has a library of mobile-optimized HTML, CSS, and JS CSS components and tools and works with predefined components.

Cross-platform & Hybrid

• BuildFire- high-performance, DIY mobile app builder that supports iOS and Android phones and tablets. It has over 45 pre-built plugins, features, a direct integration to Segment, Smooch, and others, and pre-existing templates. With BuildFire, you can launch your mobile app in 30 minutes. In addition, the building of the app is free, while launching costs only $20 per month.

• Mobile Angular UI- allows you to build HTML5 mobile apps with Bootstrap and Angular JS. It also provides overlays, sideboards, switches, scrollable areas, and bottom navbars for an easy mobile to desktop transition.

• Xojo- app development tool for Mac OS X, Microsoft Windows, x86 Linux, iOS, Raspberry Pi, and the web. It allows developers to create native apps while providing Xojo Cloud for easy maintenance-free web app hosting.

• Corona Labs- supports all platforms, and while being specially made for building 2D graphic games and educational apps, it can be used for developing other 2D apps.
• Jotform Apps- has over 300 app templates that are very easy to customize and manage. With this drag-and-drop builder, you can add anything you want- forms, external links, widgets, and images. It is the best app builder for small businesses, HR departments, restaurants, and healthcare providers.

• Unity- it is one of the most popular game development platforms you can use to build high-quality 3D and 2D games. You can even use Unity to build AR and VR apps, the industry’s latest development trends, in no time and deploy them across multiple platforms.

• Xamarin- is a Microsoft-owned software company with a C# codebase you can use to develop iOS, Android, and Windows apps. It allows code sharing on multiple platforms and has a cloud service that you can use to test the app on an unlimited number of mobile devices.

• Appcelerator- uses JavaScript to create native code. It also offers over 5,000 APIs for Android, iOS, Windows, Blackberry, and HTML5. Appcelerator is not the easiest tool to learn but has loads of features.

• React Native- open-source framework from Facebook with a ''learn once, write everywhere' mantra using JavaScript as its main code. It allows quick prototyping and high initial velocity while being easy to learn and implement with any feature you can think of.

The best mobile app development tools for Android are Android Studio, Eclipse, ItelliJIDEA, and Corona Labs.

No-coding needed mobile app development tools are BuildFire and EachScape.

The best Windows mobile app development tools are Xamarin and Corona Labs.

Disadvantages of Using an App Builder Tools

By using an app builder tool, developers can build a solid working mobile application in a short amount of time. Presenting a business app before your competition may have its perks. Still, rather than that, you'll want to submit a mobile business app that works perfectly and offers a great user experience to your consumers.

Here's why using an app builder tool can sometimes put you at a disadvantage:

1. Limited Design

When you use an app builder, you limit your mobile app in terms of design. There are only that many templates you can use to create your app, and most of them are alike, which little to no editing possibilities. If your business mobile app needs to be unique, an app builder will not give you the design you need to stand out.

2. No structure or code editing

Because most app builders use made-ready templates and features, it's hard to change or add a new feature to the app builder. So if your app needs a unique, never-seen-before feature, the app builder will not allow you to create it or code it. Furthermore, you may have access to a smaller pool of templates and features if you choose the basic subscription plan.

3. Additional Charges

Do you need a feature for your mobile app but don't have access to it? You probably missed out on paying the ''premium'' or ''pro'' subscription plan. The more you spend, the more the app builder will give you. Not to mention, subscription fees are not a pay-once expense but an ongoing expense that may as well amount to quite a lot.

Hire Quantox to Build Your Application - Stay Competitive, Save Time and Money

Quantox has been successfully working in the software development field for many years, during which we have accumulated the knowledge of what it takes to create exceptional web and mobile applications for small businesses and large enterprises. As your partner, we will work on the project focusing on your business' needs, as our expert developers turn your idea into an effective mobile solution that will save you time and money and help you dominate your market. Do you need a mobile application for your business? Let's Talk!

DISCLAIMER: 

All products and company names are trademarks™ or registered ® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. In addition, any product names, logos, brands, and other trademarks or images featured or referred to within the article are the property of their respective trademark holders.

These trademark holders are not affiliated with Quantox Technology, our products, or our websites. They do not sponsor or endorse Quantox Technology or any of our products.

Why Investing in An App Is A Smart Business Move in 2022?

As consumer behavior keeps changing, now more than ever, businesses need to adapt their strategies to ''find'' their target audience. Unlike before, consumers are no longer interested in hanging around business centers in large cities or searching for their products ''by foot''. The COVID-19 pandemic worsened the matter, and many businesses with physical locations became unreachable due to frequent lock-downs. So, where can companies find their customers? The answer, of course, is- online.

The nature and the potential of mobile phones are slowly reshaping how business is being done. As a result, the leading companies in the industry have taken on a mobile-first approach to creating effective business strategies. One of the critical points of such a strategy is the mobile app strategy. Still, many other companies have yet to embrace mobile apps, relying on mobile web to help them increase traffic. 

On the other hand, mobile apps have shown to be an invaluable asset that helps grow customer relationships and increase customer retention. So, while not being an all-around solution to business success, mobile apps have much to offer.

Why Invest in Business App Development?

How Can an App Help You Reach More Customers?

If a business wants to stay afloat in today's world, they need to find a way to reach as many of its consumers as it can. To reach those consumers, they need to think like them and put themselves in the client's shoes. Only once they do they realize that most of their target audience doesn't have time to sit in front of the computer and browse the whole day. Their consumers are busy and have but a bit of time to search for things of their interest. However, what almost all consumers around the world have in common, regardless of the industry, is the presence of a mobile phone.

Mobile phone and mobile app usage grew to the point where search engines like Google decided to use mobile-first indexing when ranking websites. In simple terms, those websites that are optimized for mobile search are ranked better. Doing business with a mobile-first approach is catering to the consumers' needs, which means a superior customer experience.

The Benefits of an App for Customer Engagement

When it comes to customer engagement, businesses have a tough job at their hands. The latest app development trends allow businesses to reach out to more customers, but how do businesses make their consumers stick around? 

Today's business environment is hyper-competitive and is exceptionally inventive when it comes to making the buying process as streamlined as possible. In other words, customers are willing to buy products, goods, or services as long as it's not too much of a hassle and doesn't take much of their time.

That's where mobile apps come in, making almost two-step buying processes, automating routine tasks, and giving new possibilities to consumers and businesses every day. 

Catering to Customer Preferences

The irony of mobile usage is that the more we develop mobile phones, the less the users are inclined to use them for calling other people. Instead, today they prefer to manage their life with just a few clicks. Take Domino's Pizza, for example- their new delivery mobile app in the UK increases their e-commerce sales by 24.4%, with more than half of the orders coming through the app. With more than 10 million downloads, their mobile app proved they understand how their customers think.

Push and Pull Notifications

''Out of sight, out of mind'' is the adage, but that's why push and in-app notifications are here for. Such notifications, provided they contain relevant and valuable content, can bring a customer back to the app they forgot they even have on their phones. Moreover, notifications that can catch a consumer's attention can also make them respond to any marketing offer, thus leading to more sales.

Location-based Content

A good business marketer knows you can never cater to your consumers' needs too much. That's why the best marketers leverage geofencing technology to send location-specific, timely, data-driven, and contextual content to their users. This type of beacon can be used to send location-based offers, promote loyalty programs, and even offer mobile-based payments in the area to your consumers.

Rewards and Loyalty Programs

Consumers love rewards, and the better the program and incentive, the more loyal consumers are to the brand. In addition, the mobile app allows businesses to present loyalty programs to their consumers more efficiently and transparently. Through an app, consumers can easily access the points they've collected, how to add them up and where they can use them.

The Power of Analytics

The biggest leverage mobile apps bring to the table is knowing your consumers inside out. Valuable data collected through apps can help companies understand the customer better. For example, they can fine-comb their browsing history to find what consumers need, what problems they need solving, and what their technological preferences are. Later on, businesses can use information from data and create special offers for their consumers which will target their needs and requirements perfectly.

The Different Types of Apps You Can Develop for Your Business

There are three main types of mobile apps businesses can choose from and see which one is more suitable for their brand:

Progressive Web Application

PWA is a software app that will install on your system. It's a sort of web app but looks similar to mobile apps. The main difference between mobile and web apps is that web apps need internet connectivity to run. PWA can work both online and offline, and that's where the similarity to mobile apps comes from.

Examples: BookMyShow, Pinterest...

Native Mobile App

Native Mobile apps need to be downloaded from Google Play Store (Android) and App Store(iOS). These types of applications are developed specifically for a specific type of device. For example, photos can be uploaded directly from a device to the mobile Instagram application, but the same is not possible on the Instagram Web app.

Examples: Instagram, Twitter, Google Maps, Skype, etc.

Hybrid Mobile App

If you want to build a mobile app that combines the features of Native app development and PWA in one platform, hybrid apps are the best route to take. 

Examples: Facebook, Amazon, etc.

Mobile Apps vs. Web Apps - Which is the Better Option?

Whether a business should build a mobile app or a web app depends on its specifications. Companies need to think about the features they believe are most important, the company's goals, and the app's main function. A web app is the best way to go for businesses that need an interactive resource for additional information. Native mobile apps are better suited for those who need access to the device's camera or GPS. So, to create a perfect app, you need to know all about app development platforms and which one you’ll be using to build your app. Choosing the right app development platform may expedite the app development process.

Here are the pros and cons of mobile and web apps to help you determine which one is the better option.

Mobile Apps

Pros: Mobile apps are faster than web apps and have great functionality because they have access to system resources. They are also safe and secure, needing approval from the app store. In addition, they can work offline and are easier to build by using great app development tools and SDKs.

Cons: They are more expensive to develop because they are platform-specific. That means a version needs to be built for every platform, meaning programmers and developers need to make a new code for each version. This also means maintenance and updates are costly, and some native apps may have difficulties being approved by the app store.

Web Apps

Pros: Unlike mobile apps, you don't have to write the code twice to make web apps. They tend to be built using JavaScript, CSS, and HTML5. There's also no standard software development kit, and developers have access to templates. So the development process is easier and quicker. 

Cons: Web apps are much slower than mobile apps and have fewer features. On top of it, they don't work offline. And because they don't need to be approved by an app store, their quality and security are not that great.

What to Consider When Planning Your Business App?

Several vital aspects in a mobile app planning stage need to be planned out to perfection for the app to reach its full potential. Take a look at the most important things to consider when planning your business app.

Define a concept

Your business app needs to help people, i.e., your consumers, solve a real problem. What are the benefits of your app? Is it going to make their lives easier? To get you started, here are some questions you can use at this stage:

• What is the app's purpose?
• What do we want to achieve with the app?
• How will it engage consumers?
• What are its core features?
• Are my client's going to see the app as useful?

Understand your Consumers

Learn as much as you can about your consumers and their needs, goals, and technological preferences. Consider the following:

• Who are my users?
• What type of problems are they faced with?
• How are they solving a problem I am trying to solve with an app?
• Which platforms do they use?
• Which devices do they use?

You can also connect with your users by asking questions on forums or working with a focus group.

Do the Market Research

It's always good to check on what your competitors are doing. Take a look at the apps similar to the one you are trying to make and ask yourself:

• What are these apps like?
• Do they solve the user problems?
• How do they engage users?
• How do they communicate with users?

Establish App Goals

Mobile app development includes planning to prevent feature creep and help with important business or technicals you'll need to make. But regardless of the goals, you set for your business app, the most important thing is to know them early and work towards them from phase 1.

Determine the Value

Your app has to have a unique value for your clients to consider downloading and using the app. Whether it's access to some features or a low-cost service, you can satisfy your consumers' needs and your business with an app.

App Development Process - The challenges of developing an application

Irrespective of the app concept, design, and marketing plan, mobile app development has many other challenges related to the app development itself. So even with the best laid-out plans, developers need to overcome many hurdles to create a high-quality mobile app. This is something businesses need to know and keep in mind for them to set realistic goals and timelines.

• Standing Out From the Crowd: Creating an app that will stand out is tough these days with so many great apps available on app stores. However, businesses that strive toward creating world-class mobile apps need to develop an app that includes functional features, intuitive design, and graphics to boost the user experience.

• Responsive: A great business mobile app needs to work like a clock on all platforms. This means that developers need to adopt responsive design throughout the whole app development process.

• Battery performance and consumption: No matter how great the app is, users will choose not to use it if it costs them valuable battery percentages. Large battery consumption and low performance can cause other issues in the mobile application testing phase.

• Choosing the right technology: Whether it's a native, hybrid, or cross-platform application, a great mobile app needs to be adaptable and versatile, bespoke to its user with a design that will keep them engaged.

• Security: To prevent the disintegration of both software and hardware, the mobile app needs to be free from malware issues.

• Hiring the right developer: Businesses can choose to hire in-house developers, freelancers, or app development agencies. However, the first two come with a few drawbacks. Building an in-house development team can take several months and can be costly while freelancing developers are hard to keep track of, especially if they are working in a different time zone. Also, there’s more focus on the building of the app itself, while the design, something users appreciate the most, may suffer. Many businesses rely on a mobile app development company to handle their projects. App development agencies usually provide end-to-end services, meaning they will be running your project from idea to launch while also managing each task in-between. Businesses can even get advice and help with their digital strategies from an app development company. However, businesses should only work with app development agencies that are willing to sign a service agreement to protect their intellectual property and determine the app's ownership. For that reason, it's essential to know how to hire the right app development company that you can trust.

How Quantox Can Help Your Business with App Services?

With more than 15 years of experience working in mobile app development, Quantox Technology proved its expertise in developing apps never seen before on the market. Our team includes mobile app developers but also sales and marketing specialists with the knowledge of managing the mobile app development process from the initial idea to final market placement. With 13 offices in 7 countries and more than 500 dedicated professionals, we've joined forces to create next-generation digital products. Do you need a business mobile application? Let's Talk!

DISCLAIMER: 

All products and company names are trademarks™ or registered ® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. In addition, any product names, logos, brands, and other trademarks or images featured or referred to within the article are the property of their respective trademark holders.

These trademark holders are not affiliated with Quantox Technology, our products, or our websites. They do not sponsor or endorse Quantox Technology or any of our products.

In 2022 mobile applications are on the rise, and many business owners are slowly discovering the benefits of having a mobile app. Still, the mobile app development process can be pretty complex and even more complicated for those with no prior app development knowledge.

So, in order to fully leverage the power of mobile apps for business, business owners should first learn more about the app development platforms that will help them build an app bespoke to their business profile and goals.  Mobile app development platforms will allow you to build your application fast, explore all the benefits of having one, and finally make you understand why investing in an app is a smart business move in 2022. 

But first-What is an app development platform? What are the benefits of app development platforms? Read more and find out all the answers.

What Is An App Development Platform?

When it comes to building a mobile app, there’s no getting around MADPs- mobile application development platforms. These platforms are actually software that allows businesses to build, test, and sometimes even deploy mobile apps. It is a collection of app development tools, services, and technologies that enables business owners to design, develop, test, deploy, and maintain their mobile apps across different platforms, networks, and devices. That’s why MADPs are also referred to as cross-platform mobile app development.

Mobile application development is complex because an app has to be compatible with all devices and mobile platforms to gain success. So, designing one app sometimes includes creating many codebases to ensure that compatibility. However, developers have to maintain only one codebase with a mobile application development platform, making MADPs a great high-tech-low-cost solution for many businesses. 

The Benefits Of Using A Mobile App Platform

According to the newest research, as much as 42% of developers worldwide are using some type of cross-platform or framework to develop applications. The reason is apparent- it makes their job so much easier by having to write just one code instead of a code for each device, platform, or network. 

However, business owners should know that app development platforms have other benefits that directly impact their brand's relationship with its user.

Here are the main benefits of app development platforms for businesses:

1. Helps Your Brand Stay Consistent

Keeping your business application consistent across all platforms will make your consumers' life more manageable. Instead of being greeted with a new user interface every time they switch devices, they'll be welcomed to an environment they're already familiar with. Mobile app development platforms can help you stay consistent with the UI and UX of your business application.

2. You can Market Faster

Since there's no need for developers to create a different application for each platform, they can quickly build and publish your business app and market them on app stores simultaneously. In terms of business, this means you can reach all your potential customers and consumers at once, be they Android, iOS, or Windows users.

3. Easy Implementation

One of the features most application development platforms have is the ability to convert any type of code into a different one. That means that a developer can write the code in HTML and later convert it to other platforms. In terms of business, this lowers the cost of building a mobile application. Instead of hiring a full-stack developer, you only need a developer proficient in one programming language.

4. MADP Makes Maintenance Easier

The mobile industry is forever evolving and constantly updating, so bugs are inevitable in making the mobile application run perfectly. However, multiple codes mean bugs and fixes become a hassle, and managing a business application for all devices and platforms becomes very difficult.

Mobile application development platforms allow you to fix bugs on just one codebase and make instant improvements for all devices. You also won't have to run as many tests, and the deployment will be quick and easy, making the support part streamlined and hassle-free.

What Is The Best Mobile App Development Platform?

The three types of mobile app development platforms- Native, Hybrid, and Mobile Web- can all be used to build a successful business mobile app that will attract consumers and increase revenue. However, knowing which one to use is a different matter entirely. Depending on the type of business, products, target audience, and budget, business owners should carefully select the platform with the most potential to ensure success.

Native Mobile Apps

Native mobile apps are built for a specific mobile platform, like Android and iOS. The developers building native mobile applications usually use Objective-C or Swift for iOS and Java for Android to build the app's code.

When To Use It: 

• If you are making an operating system-specific business app, building native apps will utilize the device's hardware like GPS, Bluetooth, or Camera better. 
• Gaming apps are also better when made native because those apps will have the best performance, thus providing the best user experience.

When Not To Use It:

• If you're developing a cross-platform app, bear in mind that you'll have trouble finding one developer who knows many different programming languages. Even if you do, expect their rates to be higher than most and considerably affect your budget.
• Furthermore, native apps require APIs to control the content, so you'll need to have a technician on board skilled at developing APIs. Be warned that developing API is troublesome and costly.
• You'll probably want to stay away from building native mobile apps if you're on a tight budget but want to build a cross-platform mobile app. Native mobile development and maintenance are both very costly.
• If you are developing a blog mobile app or news site, you won't get much out of a native mobile app. The native mobile app leverages the device's capabilities like camera features or gesture to increase user experience. If the only thing your mobile app is offering is information and content, there's no need for you to create a native app.

Hybrid Mobile Apps

One part native, one part web- hybrid apps are web content in the form of a local repository. The code is usually written in web languages such as HTML, CSS, and JavaScript.

When To Use It:

• If you are creating a cross-platform business mobile app, hybrid apps may be your best choice. This is because they can be ported to multiple platforms and save considerable time and money while doing so.
• When your mobile app development budget is on the low side, it's good to build a hybrid app because it doesn't require resources with specific programming requirements. By using third-party libraries, the native code can be wrapped over the existing layer making development affordable while still getting the benefits of reaching more users.
• If your app requires it, the hybrid will give you many opportunities for monetization for in-app purchases and advertising.
• Hybrid mobile apps are easy to build now there are so many great tools with cloud IDE, CLI, debugger, and remote online building tool all in one.

When Not To Use It:

• If your business app requires you to alter the platform's hardware features, hybrid may not be the best solution for you. Changing the code may result in getting rid of some features to make your app work, and you'll never be sure if those changes will only cause more bugs or not.
• Do you want a fast mobile app? Well, then, you should reconsider making a hybrid mobile app. Unfortunately, hybrid mobile app rendering may include some additional time lag so the data is not processed as fast as it is in native data, which gives hybrid apps only moderate performance.

Mobile Web Apps

Mobile web apps are not really applications but more like a website with functions similar to a native app. They run through the web browser, but they are designed for a mobile app by single-time coding.

When To Use It:

• Only one code is needed to make a Mobile Web Application before you deploy it to multiple platforms at the same time. They are an excellent choice for multi-platform usage.
• Also, if your mobile application offers more content than functions, like, for example, a news app, a mobile web app would be the best pick for you.
• And because your web apps are not bound by app stores, there are no rules when it comes to mobile web app development. This gives your app the benefit of introducing web app updates quickly, with your users seeing them within the app instantly. 

When Not to Use Them

• Suppose you are developing a business app that requires high-quality graphics or low latency for something like online gaming, online trading, and VOIP services. In that case, you're not going to get the level of performance you need with a mobile web app. That's because the mobile web depends on the internet speed.
• The drawback of mobile web apps is that they should be developed across different devices and fit the content to any resolution. In addition, the added coding increases the overall mobile app dev expenses.
• Finally, mobile web apps can offer only a subscription-based monetization model and have little to no monetary benefits.

As you can see there’s no one perfect application development platform and by using the correct one you’ll be able to build an app that not only caters to the users, but also fits your business goal, model, and budgeting. So, before you dive deeper into mobile app platforms, make sure to determine the target audience of the app and what you want to achieve with your business mobile app. Furthermore, make sure you check out all the top trends in app development like 5G and VR because they may impact which type of mobile app you need to build. 

What Are The Drawbacks Of Using An App Development Platform?

As the title says, while there’s ‘’the Good’’, there’s also ‘’The Bad’’ and ‘’The Ugly’’ of the mobile app development platforms. The drawbacks are something business owners must learn about in order to avoid spending more money than necessary, but also ensure a hassle-free mobile applications dev process. 

There are several drawbacks to using MADPs and creating a cross-platform app:

• Low Functionality and Performance

Since cross-platforms are not built for just one specific platform, you may not be able to leverage the functionalities of all smartphones to their fullest potential. For example, developers could be having a hard time trying to make use of the different devices' cameras and microphones. 

Also, native apps use at least half less CPU power than any corresponding cross-platform app. The same goes for memory usage- native apps are far less demanding on the hardware. And on top of it all, these types of applications require an additional layer of rendering which often impacts the speed and overall performance of the app.

Moreover, when you build an app with a cross-platform framework, the more complex apps are at a higher risk of issues running on one of the platforms. Cross-platform frameworks also have delayed access to the latest Android and iOS updates. In order to bypass the bugs and errors, you need to have high-quality code at the base of the development and proper testing.

• Limited Customization Options

Cross-platforms aren't as flexible in UX components as native mobile apps. In other words, cross-platform apps are limited in terms of layout, and this can badly impact the user experience.

• Inefficient code

The main advantage of MADPs can also become its major flaw- almost every developer can use them to create a mobile application for a business. However, this risks developing inefficient code, which, when translated for other platforms, just doesn't perform well.

For business owners having a mobile business app that doesn't work could mean losing money instead of earning. In addition, having an in-house app development team can cost thousands, and freelancing developers are sometimes hard to reach and manage.

Knowing how to hire the right app development company you can trust can be your saving grace. App development companies can offer much more than having a developer build your app through MADP. With such a company, your mobile app idea can be developed to the fullest because most of these companies offer more than just their developers. Besides building an efficient code, they also provide market analysis, marketing strategies, and target audience research. They can help you determine your mobile app's goals and milestones while coming up with a user-friendly interface, impeccable design, and ensuring your application includes all necessary features. 

Why You Should Hire Quantox to Make Your App Idea A Reality?

To its clients, Quantox provides more than just mobile business applications. We give our clients a choice to take advantage of all the benefits of having an app that will improve their brand's performance. By taking on a cumbersome development process, writing immaculate code, and creating efficient mobile applications, our clients are free to focus on product innovations. In addition, our expert developers always focus on end-user experience and conversion, which allows us to take your idea to a whole new level. Let's Talk about your new business application!

DISCLAIMER: 

All products and company names are trademarks™ or registered ® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. In addition, any product names, logos, brands, and other trademarks or images featured or referred to within the article are the property of their respective trademark holders.

These trademark holders are not affiliated with Quantox Technology, our products, or our websites. They do not sponsor or endorse Quantox Technology or any of our products.