Tag Archives: business

12 November 2023
1 Comment
AI, Bez kategorii, Business, Software

AI customer service: The future of customer support

Reading Time: 4 minutes

Introduction

Artificial intelligence (AI) is rapidly transforming many industries, and customer service is no exception. AI-powered chatbots and virtual assistants are becoming increasingly sophisticated, and they are now able to handle a wide range of customer inquiries.

AI customer service offers a number of benefits for both businesses and customers. For businesses, AI can help to reduce costs, improve efficiency, and scale customer support operations. As for today 36% of businesses use a chatbot to generate more leads [1]. For customers, AI can provide 24/7 support, resolve issues more quickly, and personalize the customer experience. Ubisend survey stated that 48% of customers don’t care whether they get their information from bots or call centers.[2]

Use cases for AI customer service

AI customer service can be used in a variety of ways, including:

  • Answering customer questions: AI chatbots can be used to answer common customer questions about products, services, and policies. This can free up human agents to focus on more complex issues.
  • Resolving customer issues: AI can also be used to resolve customer issues, such as resetting passwords, troubleshooting technical problems, and processing returns.
  • Personalizing the customer experience: AI can be used to personalize the customer experience by recommending products and services based on the customer’s past purchase history and interests.

Benefits of AI customer service

AI customer service offers a number of benefits for both businesses and customers, including:

  • Reduced costs: AI can help to reduce customer service costs by automating tasks that would otherwise be performed by human agents. Cutting labor costs by reducing the reliance on human intervention leads to as much as 30% decline in customer support service fees[3].
  • Improved efficiency: AI can help to improve customer service efficiency by resolving issues more quickly and accurately. A study found that 62% of consumers would talk to a chatbot than wait for a human agent[4]
  • Scaled support: AI can help businesses to scale their customer support operations by providing 24/7 support and handling a high volume of inquiries.
  • 24/7 support: AI chatbots and virtual assistants can provide customer support 24 hours a day, 7 days a week. This is especially beneficial for businesses that operate in multiple time zones or that have customers who live in different parts of the world. 
  • Faster issue resolution: AI can help to resolve customer issues more quickly by automating tasks and providing access to a vast knowledge base. 
  • Personalized experience: AI can be used to personalize the customer experience by recommending products and services based on the customer’s past purchase history and interests. According to chatbot.com 74% of internet users prefer using chatbots when looking for answers to simple questions[5]

While AI customer service offers a number of benefits, there are also some drawbacks to consider:

  • Lack of human touch: AI chatbots and virtual assistants may not be able to provide the same level of personalized and empathetic customer service that a human agent can.
  • Language and context understanding: AI systems can sometimes struggle to understand complex language structures or the context of certain queries. This can lead to misinterpretations and unsatisfactory responses.
  • Bias: AI systems can be biased, reflecting the biases of the data they are trained on. This can lead to unfair treatment of certain customers.
  • Job displacement: AI customer service could lead to job displacement, as some tasks currently performed by human agents are automated.

Here are some specific examples of how businesses are using AI to improve customer service:

  • Amazon: Amazon uses AI to power its Alexa virtual assistant, which allows customers to ask questions, place orders, and manage their accounts using only their voice.
  • Netflix: Netflix uses AI to recommend movies and TV shows to its customers based on their viewing history.
  • Spotify: Spotify uses AI to create personalized playlists for its users.
  • Zendesk: Zendesk offers AI-powered chatbots that can answer customer questions and resolve issues.
  • Salesforce: Salesforce offers AI-powered customer relationship management (CRM) software that can help businesses track and manage customer interactions.

If you are considering using AI to improve your customer service, there are a few things you should keep in mind:

  • Start small: Don’t try to implement AI solutions for all of your customer service needs at once. Start by identifying a specific area where AI can make a big impact, such as answering frequently asked questions or routing customer inquiries.
  • Choose the right AI solution: There are many different AI solutions available, so it is important to choose one that is right for your business. Consider your budget, your customer needs, and your existing customer service infrastructure.
  • Integrate AI with your existing systems: Make sure that your AI solution is integrated with your existing customer service systems, such as your CRM and help desk software. This will ensure that AI is able to access the data it needs to provide the best possible customer service.
  • Get feedback from your customers: Once you have implemented AI solutions, it is important to get feedback from your customers to see how they are working. This feedback will help you to identify areas where you can improve.

Conclusion

AI customer service is the future of customer support. By automating tasks, improving efficiency, and scaling support operations, AI can help businesses to reduce costs, improve customer satisfaction, and grow their business.

If you are not already using AI in your customer service operation, now is the time to start. There are a number of AI solutions available, and there is sure to be one that is right for your business.

[1] https://outgrow.co/blog/vital-chatbot-statistics

[2] https://www.forbes.com/sites/forbesbusinesscouncil/2023/05/15/robo-travel-how-ai-is-changing-the-industry/?sh=60020c071a30

[3] https://www.ibm.com/downloads/cas/GQDGPZJE#:~:text=Chatbots%20can%20also%20handle%2080,%2C%20public%20holidays%2C%20or%20illness.

[4] https://colorlib.com/wp/chatbot-statistics/

[5] https://www.chatbot.com/blog/improve-customer-support-with-facebook-chatbots/

Made with google bard

Some of the prompts I used:

„Please write techblog about ai customer service”, „please give me 5 different statistics from 5 different sources” and “include these to this blog post so it sounds naturally”

Image generated with dalle 3

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11 November 2023
2 Comments
Bez kategorii

Advantages, Disadvantages, and Key Trends of AI Adaptation in Business

Reading Time: 3 minutes
https://unsplash.com/photos/white-and-black-typewriter-with-white-printer-paper-tGBXiHcPKrM

Introduction

As business evolves quickly, the adoption of AI is becoming more and more widespread. AI has numerous benefits, yet also poses some issues. Here, I will look into the advantages, disadvantages, and current trends involving AI in business.

Advantages

Incorporating AI in business offers a range of advantages. Firstly, AI can significantly boost operational proficiency. By employing machine learning algorithms, AI systems can analyse huge amounts of data and draw meaningful conclusions. This grants businesses the opportunity to enhance their production processes, streamline supply chain management, and offer unprecedented customer service with personalized suggestions based on individual preferences.

Secondly, AI grants businesses the capability to make smarter decisions. By using predictive analytics and data-driven insights, artificial intelligence algorithms can detect market trends, customer behaviour trends, and potential risks or possibilities. Equipped with such understanding, businesses can modify their strategies instantly and make proactive decisions to gain an advantage.

In addition, AI has the capability to reform the labour force by automating mundane and repetitive jobs. By assigning these tasks to AI-run systems, businesses can set free human resources to concentrate on more complex and creative projects. This not only advances productivity but also augments job contentment and employee enthusiasm.

Apart from these advantages, AI can be used to greatly help and change a wide range of areas of people’s jobs. For example, AI can increase human intelligence by providing employees with helpful tools and insights to increase their capabilities. Through the cooperation between humans and AI, more creative solutions and improved results can be produced.

Key trends

Examining some major tendencies in the realm of AI usage in the corporate world is what we shall do now. A well-known pattern is the accelerated expansion of AI-controlled chatbots and virtual assistants to reinforce customer service. These clever systems can render immediate assistance, answer requests, and even complete transactions, increasing customer gratification and shortening response times.

Additionally, there is a keen attention on Explainable AI, with the goal of making AI algorithms more comprehensible and interpretable. This is especially essential in industries such as healthcare and finance, where decisions must be justified and comprehended.

Furthermore, the incorporation of AI with Internet of Things (IoT) gadgets has seen a rise in popularity. This combination enables organizations to use real-time data from connected devices to make informed decisions and automate processes more productively.

Disadvantages

Nevertheless, it is essential to recognize the possible drawbacks and difficulties that arise from the utilization of AI in business. A major issue is the risk of job loss as AI automates activities formerly done by humans. Repetitive and mundane roles are especially vulnerable to the changes taking place, yet it is important to bear in mind that new positions and chances may also arise as organisations adjust to the new environment. Retraining and advancing employees’ skills will be vital in dealing with this transition successfully.

Although AI in business could be advantageous, it is essential to be aware of any potential drawbacks and challenges. A primary concern is that AI could be a substitute for jobs previously undertaken by humans. It is worth bearing in mind that some boring and repetitive roles could be automated, but new opportunities and roles could also become available.

One of the difficulties posed by AI is ethical in nature. With AI becoming ever more sophisticated, questions about privacy, data security, and algorithmic bias come to the fore. Businesses must take ethical considerations into account when designing and utilizing AI technologies in order to guarantee openness, fairness, and responsibility.

Conclusion

In conclusion, when businesses adopt AI they benefit from more efficient operations, improved decision-making, and automated tasks. However, there are also drawbacks to consider, such as job displacement and ethical issues. But with the right attitude and proactive management, businesses can take advantage of AI and use it to promote innovation, improve productivity, and stay ahead in today’s dynamic business landscape.

Sources:

  1. https://www.linkedin.com/pulse/ai-business-pros-cons-the-hr-booth
  2. https://www.insightsforprofessionals.com/it/software/11-pros-and-cons-of-ai-for-businesses
  3. https://towardsdatascience.com/advantages-and-disadvantages-of-artificial-intelligence-182a5ef6588c
  4. https://www.forbes.com/sites/johndobosz/2023/11/05/12-warren-buffett-style-stocks-with-a-margin-of-safety/?
  5. https://curator.io/blog/e-commerce-business-website-ai
  6. https://unsplash.com/

AI generator used:

  1. Bing AI

Key prompts: “Advantages of AI in business”, “Disadvantages of AI in business”, “What could AI possibly replace in business”.

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29 October 2023
2 Comments
Business

The Future is Remote: Embracing the Digital Workplace in 2023

Reading Time: 3 minutes

In the bustling world of 2023, the concept of a traditional office has been significantly shaken. The catalyst? Remote work. As businesses worldwide continue to adapt to ever-changing dynamics, the adoption of remote work has shifted from being a temporary solution to a permanent fixture in our professional landscape.

Interestingly, 12.7% of full-time employees are now working from home, with a significant 28.2% adapting to a hybrid work model [1]. This clearly shows that remote work isn’t just about accommodating the need for social distancing; it’s about meeting the increased demand for flexibility and autonomy in our jobs.

THE BENEFITS OF REMOTE WORK

  1. Flexibility: The ability to work from anywhere at any time has been embraced by 82% of remote workers choosing their homes as their primary work location [2]. No more commuting means additional hours saved, which can be used for productive tasks or personal pursuits.
  2. Access to a Global Talent Pool: With geographical limitations eliminated, companies can hire the best talent from around the globe. In fact, 16% of companies have shifted to fully remote operations, tapping into the global talent pool [3].
  3. Cost Savings: Both for businesses and employees, remote work offers substantial cost savings. With the number of remote jobs having tripled compared to 2020, now making up more than 15% of the total job opportunities in the U.S, the economic benefits of remote work are becoming increasingly clear [4].

THE CHALLENGES OF REMOTE WORK

While remote work offers a myriad of benefits, it’s not without its challenges:

  1. Communication and Collaboration: Virtual communication can sometimes lead to misunderstandings, and collaborating on complex projects can be tricky without face-to-face interaction.
  2. Work-Life Balance: While working from home offers flexibility, it can also blur the lines between personal and professional life, leading to the potential for overwork and burnout.
  3. Technical Issues: Internet connectivity issues, hardware/software problems, and data security are all concerns that need to be addressed for smooth remote work operations. Research from Tessian revealed that 45% of employees had made mistakes leading to cybersecurity incidents while working remotely during the pandemic[5].

THE TOOLS FOR REMOTE WORK

In today’s remote work environment, digital tools and technologies play a crucial role. Communication platforms like Slack and Zoom are essential for team interaction, while project management tools such as Asana or Trello keep everyone aligned on tasks and deadlines. File sharing systems like Google Drive and Dropbox allow for seamless collaboration, and time management applications like RescueTime help in effective productivity management. Security is ensured through VPNs and cybersecurity software, while employee engagement and workforce management tools like Bonusly and BambooHR maintain a positive remote company culture. Lastly, virtual whiteboards like Miro provide an interactive space for team brainstorming. These tools collectively boost the efficiency and effectiveness of remote work.

THE FUTURE OF REMOTE WORK

Looking ahead, organizations will need to continue investing in technology and digital tools to support remote work. We can expect advancements in collaboration tools, project management software, and cybersecurity measures.

Moreover, companies will need to foster a company culture that transcends physical office space. This will require innovative approaches to team building, employee engagement, and maintaining a shared vision across a distributed workforce.

In conclusion, remote work has become an integral part of our professional lives. It’s no longer an ’emergency measure’ but a ‘new normal.’ As we continue to navigate this digital landscape, it’s clear that the future of work is indeed, remote.

Sources:
[1] https://www.forbes.com/advisor/business/remote-work-statistics/
[2] https://pumble.com/learn/collaboration/remote-work-statistics/
[3] https://www.zippia.com/advice/remote-work-statistics/
[4] https://www.strongdm.com/blog/remote-work-statistics

[5]https://www.tessian.com/research/the-psychology-of-human-error/

This post was created with hypotenuse ai and quillbot. 

How it was done:

Prompt for hypotenuse ai „write a techblog post about remote work” Then quillbot ai review provided me with advice that I should include some statistics and name some tools for remote work. So the next prompt I used in hypotenuse ai was „can u give me some statistics and reaserch findings about remote work” then „can you include these statistics to this blog so it sounds natural” next „provide examples of digital tools and technologies used in remote work” and then „make it shorter and include it as a paragraph to the blog post”

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17 January 2023
2 Comments
AI, Business

Revolutionizing the Workplace: The Impact of artificial intelligence and machine learning

Reading Time: 2 minutes
Artificial Intelligence – Changing the Landscape for Businesses
https://www.cubix.co/blog/artificial-intelligence-changing-the-landscape-for-businesses

Artificial intelligence (AI) and machine learning (ML) from self-driving cars, through picture and text generators, to virtual personal assistants, are making significant strides in a wide range of industries quickly revolutionizing the way businesses operate.

AI and ML are being used to automate repetitive tasks, freeing up employees to focus on more complex and strategic work. This can lead to increased productivity and cuts in costs. In addition, AI and ML can be used to analyze large amounts of data, providing insights that were previously not possible. This can help organizations make better decisions and improve their bottom line.

One example of how AI and ML are being used in the workplace is in the field of human resources. AI-powered chatbots can be used to screen job candidates, conduct initial interviews, and even schedule follow-up interviews. This can save HR teams a significant amount of time and resources. Additionally, AI and ML can be used to analyze employee data, such as performance reviews, to identify patterns and trends that can help managers make better decisions about promotions, bonuses, and other HR-related issues.

Another area where AI and ML are making a big impact is in customer service. Virtual personal assistants and chatbots can be used to answer customer questions, resolve issues, and even make recommendations. The times when just hearing an automatic voicemail script, had frustrated to no end every person trying to call a helpdesk are coming to an end. Additionally, AI and ML can be used to analyze customer data and predict future needs, allowing companies to proactively address issues and improve their overall customer experience, but it is already being implemented into manufacturing, finance, healthcare, and many other industries. 

However, it is also very important to consider the ethical and societal implications of AI and ML in workplaces. These technologies can lead to job displacements, bias, and lack of transparency. Therefore, it is essential for companies to consider these issues and actively work on mitigating them.

It’s clear that the impact of AI and ML on workplaces will continue to grow in the coming years. Businesses that embrace these technologies will be well-positioned to stay competitive and succeed in the future. And it will be especially true for early adapters, who will gain significant advantage over anyone that will be late for this express train. 

In conclusion, AI and ML are revolutionizing the way we work and live. Businesses that embrace these technologies will be well-positioned to stay competitive in the future. However, it is important to consider the ethical and societal implications of AI and ML in the workplace and actively work to mitigate them. And just like in 18th century when new technologies created Industrial Revolution, like 20th century computers and automation, and just like the emergence of the internet, all pushing businesses and workplaces to adapt and evolve, while rising quite similar ethical concerns, artificial intelligence and machine learning are just impossible to ignore.

Sources:

https://www.ibm.com/watson/about

https://www.mckinsey.com/capabilities/quantumblack/our-insights/ask-the-ai-experts-what-are-the-applications-of-ai

https://www.mckinsey.com/featured-insights/artificial-intelligence/notes-from-the-ai-frontier-modeling-the-impact-of-ai-on-the-world-economy

https://www.beekeeper.io/blog/3-reasons-you-want-ai-in-the-workplace/

https://www.bbvaopenmind.com/en/articles/artificial-intelligence-in-workplace-what-is-at-stake-for-workers/

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4 January 2023
3 Comments
Bez kategorii

Vr-is it going to die or conquer the world?

Reading Time: 3 minutes

Short explanation:

Virtual reality is a phrase heard by many of us but do we really know what this is about?

The creation of simulated environments using computer technology, placing many users inside a three-dimensional world and providing them with almost real experiences creates something unbelievable for many people and that’s what virtual reality is.

A set of virtual worlds between which we can move, meet other people and experience various types of stimuli using our own created avatar using VR and AR technology as well as special equipment in the form of google VR and others is something truly amazing. Over the course of development, more advanced sensory experiences would come, involving an increasing number of senses such as hearing, touch and even taste to make the created world more real.

One of many in the world who unconditionally believes in the development of this technology is Mark Zuckerberg. His and his company’s involvement in the research and development of this technology, although very promising, brought serious financial losses to Meta. According to him, the world of the metaverse will be the new Internet, and just as many years ago no one expected that within the range of a small device such as a telephone, we would gather a lot of information and the possibility of contact with the whole world, The same as then today many doubt the development of this world.

Technology is supposed to simplify our lives and it is supposed to be similar to the metaverse, the development of which may reduce many development barriers. let’s imagine a situation when bosses from different parts of the world sit at one business table within one room in a special virtual world, in fact sitting in their own room in the forest wearing only google VR.let’s imagine a situation when bosses from different parts of the world sit at one business table within one room in a special virtual world, in fact sitting in their own room in the forest wearing only google vr. Experiencing this situation with all your senses and not just the TV screen will be an amazing experience. Sitting in your own home and having the opportunity to meet people of other nations, from the other end of the world, and even going to a concert or to a regular store will be within our reach.Already, many worlds created by games such as Fortnite or Minecraft want to absorb their users even more and immerse them in an almost real world that they experience with all their senses. However, this requires a lot of work and refinement of details as well as having advanced equipment, which is expensive at the moment.

A short movie to explain everything more briefly:

The race for dominance in this world is still going on and Mark Zuckerberg’s huge risk and huge financial losses do not guarantee his success because there are other huge companies around the corner, such as Microsoft, which are also exploring and interested in this world. other large companies create their own meta worlds, testing, for example, cooperation between employees in the virtual world. H&M opening its virtual store and enabling the purchase of its digital products is the best example of this.

This concept of augmented reality will probably defend itself and will become the answer to many human and economic problems. At the same time, it will introduce society to other problems that it will have to face. I sincerely believe in this technology and count on its development, which will further improve our world.

Thanks for reading.

Sources:

https://www.softwaretestinghelp.com/what-is-virtual-reality/

https://fortune.com/2022/10/31/what-is-mark-zuckerberg-net-worth-losses-100-billion-metaverse-earnings/

https://www.vrowl.io/what-is-virtual-reality-vr-and-what-are-the-possibilitie

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10 December 2022
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Apps, Bez kategorii, Business, Devices, Sharing economy

E-Scooter rental business from a former unicorn to the date of withdrawal

Reading Time: 4 minutes
https://upload.wikimedia.org/wikipedia/commons/0/04/Lime_Logos-wiki-01.svg
https://en.wikipedia.org/wiki/File:Bird_(company)_logo.svg

The E-scooter rental business

There are two e-Scooter rental marketplaces in the US for example Bird, which adapted Xiaomi’s e-Scooter, and Lime, which developed and produced an e-Scooter by itself, all of which are very convenient to use. It just download the application from the QR Code on the e-Scooter, complete the registration and start using it immediately. When you reach your destination, you can park right away. And then there will be people who want to use it to rent it to ride on their own.

The service fee is not as expensive as you think. Starting with a pocket-friendly price of $1, the next minute is 15 cents by credit card payment method. It costs about $3-5 per ride, which is cheaper than an Uber ride, moreover it gets an eco-friendly look. Bird is the founder of this startup, bringing e-scooters into San-Francisco. On the corner of the street Which in the beginning received such a good response that investors flocked to invest quickly Become the fastest growing unicorn in history and the e-Scooter was seen everywhere and expanded to other major cities in the United States such as New York, Los Angeles, Detroit , etc.

Why do people not like E-scooter business in the US?

The e-Scooter makes the cityscape look less beautiful than before. Because wherever you look, you will see only the e-Scooter fell down. In addition, some users refuse to park it well, but leave it on the ground, causing clutter to the sidewalk and cluttering others.

In addition, when it rains, the wet road e-Scooter crashes, the more it looks unusable and unattractive. Causing some people to be dissatisfied with the e-Scooter, kicking each other to fall, the more they fall, the more frustrated they become, and people they kick scooter going around in a circle.

When e-Scooters Make Cities look bad As a result, some people complained to the city for zoning. Make parking spots for more orderliness. Can’t park anywhere like at first sight.

Scooters were promoted under the veil of eco-friendly transportation. Their true origin is more insidious, and even dangerous. – Photo by Reddit
https://dailytargum.imgix.net/images/619bda44-ae7f-4526-9a82-0aa673dc2e7d.jpg?ar=16:9&auto=compress&crop=faces&fit=crop&fm=webp&width=1200

Is it a E-scooter fault or human behavior?

In addition to zoning, The city is trying to regulate e-scooters by limiting the number of e-scooters, with every registered e-scooter being offered for rent incurring an operating fee to help improve the visibility of the city.

When renting an e-Scooter isn’t as convenient as it used to be Combined with the anger that was already the original capital Causing many people to destroy the e-Scooter, including setting fire or throwing it into the river Becomes more polluting to the environment because the e-Scooter is considered an electronic device. with harmful substances in it, both the circuit board and the electric battery

In addition to the issue of destroying the e-Scooter that is the property of the company. Also followed by cases of physical abuse arising from e-Scooter as well, such as riding to hurt other people. and ride away despite not having a feud or having known each other before

From the many ensuing problems of renting e-Scooter, including city planning and property destruction and therefore, there is a current of criticism that all this happened is the fault of Is it more “e-Scooter rental company” or “Habit of people”?

Is it have any chance for this business?

Of course, running a business requires a profit. For example, the Bird e-Scooter from Xiaomi costs around $500, and it will require at least five rentals a day for five to six months to return on their e-Scooter.

Usually, these products should last around 1-2 years but according to the numbers that Bird has done, research has come out indicating that Average usage is about 3.5 times/day, which is slightly below target. May have to extend the expected payback period to 7-8 months instead but the lifespan of the e-Scooter is short, only 28 days, perhaps not due to negligent.

And another important reason is that e-Scooter is stolen and modified to become your own. For all these reasons, the service life that should be at least 1 year, but Xiaomi’s guarantee is only 28 days left.

Recently, e-scooter rental startup Bird announced it was “withdrawing its service in many cities”, with it canceling in three European countries: Germany, Sweden and Norway, as well as several cities in the US, Europe and the Middle East. So is it a problem of human habit or e-scooter comment down below.

Resource:

https://dailytargum.com/article/2020/09/ballaro-scooter-deal-sold-out-new-brunswick-again

https://edition.cnn.com/2019/08/30/tech/scooter-management/index.html

https://www.statista.com/outlook/mmo/shared-mobility/shared-rides/e-scooter-sharing/worldwide#revenue

https://en.wikipedia.org/wiki/Bird_(transportation_company)

https://en.wikipedia.org/wiki/Lime_(transportation_company)

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5 December 2022
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Business

‘Fake it, till you make it’ – end of Elizabeth Holmes saga.

Reading Time: 3 minutes
Elizabeth Holmes Appeals Theranos Fraud Conviction, Prison Term - Bloomberg

In 2013 the whole world was astonished by the revolutionary idea of 30-year-old entrepreneur Elizabeth Holmes, which would have started a new era of blood testings.

‘Edison’ – the machine of the future: compact, cheap, and paramount, with no more need for intravenous blood tests. It would allow the prevention of earnest diseases like cancer with a diminutive drop of vital fluid. Those promises were made by Elizabeth Holmes to investors that subsequently poured a fortune into Theranos (the company founded by her in 2003). Initial funding was raised by using family connections, accounted around $6 million.

In mid-2014 and the beginning of 2015, the net worth of the company was gradually raising, and reached the point of approximately $9 Billion, with Rupert Murdoch holding the biggest amount of shares worth $125 million.

The amount of money invested helped Elizabeth with vast success, by storming Silicon Valley with Theranos, she became the first female self-made billionaire in the USA with a net worth of $4.5 million.

What could have gone wrong?

WSJ investigative journalist John Carreyrou on Recode Decode: transcript - Vox

In 2015 John Carreyrou, a journalist from Wall Street Journal, started his investigation after a tip-off from a skeptical pathologist. Not long time after this, all popular newspapers were full of controversial headlines.

The revolutionary idea was extraordinary fraud! The results of tests taken by the machine were misleading and in most cases not correct. Theranos’ invention simply did not exist.

‘It was not just business or corporate fraud, it is the one that had big implications for public health”,- John Carreyrou said.

After the investigation started in 2015, within a year Elizabeth Holmes was disclosed as a fake. By the end of 2018, the company felt apart.

In July 2018, she was charged with two counts of conspiracy to commit wire fraud and ten counts of wire fraud. She was facing a maximum of 20 years in prison and a fine of $250 000.

However, the trial was not as smooth as it was expected, firstly it was delayed because of the pandemic of COVID-19, and this allowed Elizabeth Holmes to continue her game. In March 2021, the prosecutor received unexpected news that the defendant is 5-month pregnant. This led to even bigger delays.

“Being a new mother can only help get her sympathy from jurors,” – said Danny Cevallos, NBC News legal analyst.

However, the jury convicted E. Holmes of the investor wire fraud conspiracy count and three counts of actual fraud in connection with a scheme to defraud investors, with the wire transfer of approximately $140 million. Only on November 19, 2022, Elizabeth Holmes’ trial was finally settled, and as a result of it she was plead guilty and was sentenced to 11 years and 3 months in a prison.

This puts a bold period at the end of the Elizabeth Holmes saga and shows society, the danger of Silicon Valley culture that allows fraudsters to have an influential and leading voice.

To read more about the lates update of the court process:

https://www.ft.com/content/3ab080c9-c13d-40b3-a697-9c58fd9e218c

To read more about the trial itself:

https://www.justice.gov/usao-ndca/pr/theranos-founder-elizabeth-holmes-found-guilty-investor-fraud

Tagged , ,
24 November 2022
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Bez kategorii, Business, Devices, Sharing economy

Why is there a shortage of electronic chipset?

Reading Time: 2 minutes
https://i0.wp.com/hardzone.es/app/uploads-hardzone.es/2020/05/TSMC-5-nm-Intel-AMD-NVIDIA.jpg?ssl=1

The impact of the current chipset shortage crisis has spread to a very wide world, from initially only affecting the electric car industry but the impact has now returned to the smartphone industry, tabs. Tablet, computer, game console to various IoT (Internet of Things) devices today,

Chipset shortage crisis this time. It has to say that it started from the trade war between two the most country like China and the United States in 2019, dragged on to the COVID-19 crisis in 2020 that affected the world. And it doesn’t seem to end easily, coupled with new demand that has arisen along the way in many industries. Including natural disasters to aggravate the production capacity even less Until the balance between demand and supply worsened as we can see today.

https://images.app.goo.gl/ieYLB9aEtPFx3iPK6

In addition, Due to less chip volume and higher product prices It’s not just businesses which are get this crisis by the shortage of semiconductors. Even ourselves as consumers will not be immune to the negative consequences of this crisis. One of them is that the price of goods has skyrocketed.

According to J.D. Power, the average US car price In the first quarter of 2021, it jumped 8.4% from a year earlier to about $37,200 per vehicle. will increase by at least 1-3% which can show that the price of chipset in the market has skyrocketed therefore it will raise a price rapidly.

And who will get benefit with this thing, the issue of the shortage of semiconductor have advantages and disadvantages , In my opinion is TSMC and Samsung which are biggest market in semiconductor it will invest abord to another country such as Vietnam, Malaysia and Thailand which it will make competition between this two company will produce new product, new innovation, and new technology for example, semiconductor 5 nanometers or 3 nanometers technology so what do u think about this issue please comment down below.

resource:

https://www.cars.com/articles/car-shopping-how-long-will-the-inventory-shortage-last-437134/

2020–present global chip shortage – Wikipedia

Global chip shortage: everything you need to know | TechRadar

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24 November 2022
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Bez kategorii, Business

Semiconductor race to the future

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Semiconductors – chips are an integral part of every electronic device. That’s why it’s so important for companies to ensure that their product is equipped with the latest version.

For this reason, many organizations are outdoing themselves in creating better and better chips. For many years, the largest semiconductor manufacturer has been the Taiwanese company TSMC. It supplies more than half of the world chip market. It it’s responsible for producing most of the chips for iPhones and Macs that Apple is so proud of. Few people have heard of it, but it is one of the largest companies in the world. In the field of pocket devices, supercomputers and automobiles, TSMC is a nearly a monopoly with more than 90% of the global chip supply. Another 8% of companies are supplied by Samsung chips. That leaves just 2% for dozens of other producers.

Macro photography of the inside of computer
Photo by Vishnu Mohanan on Unsplash

But that doesn’t stop other organizations from becoming competitors in the production of new and better semiconductors. The American company NVIDIA recently took away TSMC’s long-occupied first place on the list of most profitable companies. The competition is growing and more rivals are joining the race for the first 2 nm process. One of the biggest contenders is Samsung. As of today, only Samsung and TSMC produce and sell 3 nm chips. Both companies expect to begin mass production of 2nm chips by 2025.

Now Rapidus is joining the game – the newly formed company is funded by a number of organizations such as Toyota, Sony and Kioxia. However, the biggest donor is the Japanese government itself since company’s headquarters will be in Japan. It will allocate about $500 million to help the new company develop. After a stagnant engineering market and a shortage of skilled workers, Japan is looking for prospects in semiconductor manufacturing. The country is also hoping to forge closer ties with the US, as Rapidus will work with IBM to develop next-generation, sub-2-nanometer chips. This move puts Japan in the team of United States in their technological war with China. Results of this colaboration will be visible in 2027, two years after estimated mass production of TSMC’s and Samsung’s samiconductors. In technological field it’s a lifetime. Probably Rapidus will not be a succes at first, but it may have a potential in future projects and development.

There is still a long way to go before mass production of 2-nm semiconductors. However, a bright future full of potential lies ahead. Battery life of smartphones equipped with such a chip will quadruple. Laptop functions will speed up dramatically. The same goes for object detection in autonomous vehicles, which will reduce possibility of accidents on the roads. On top of that, the carbon footprint will be much smaller. It is believed that 2nm could be useful in areas such as 5G internet, big data centres and even quantum computing.  One thing is certain, whoever develops a good-quality 2-nanometer semiconductor first will gain great strength in the technology field.

Sources:
https://www.ft.com/content/47282150-7c2e-49f5-8e9e-f61c3904e461
https://newsroom.ibm.com/2021-05-06-IBM-Unveils-Worlds-First-2-Nanometer-Chip-Technology,-Opening-a-New-Frontier-for-Semiconductors
https://www.theregister.com/2022/10/04/samsung_2nm_2025/
https://www.ft.com/content/b90da329-a2e5-486a-860f-a20a3afc707a

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12 November 2022
1 Comment
Apps, Business, Sharing economy

Why is all delivery food company still not profitable? and how they can attract investor?

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https://assets.brandinside.asia/uploads/2017/01/deli.jpg

There have a lot of delivery food company around the world but why they cannot make profitable but there are always investor ready to invest because they believe that someday a business will be able to make profitable.

How are these delivery food companies profitable? for example, delivery food company earnings come from deducting 25% of the ride fare. This mean that if the fare is 100 zloty, the driver gets 75 zloty, and all of these company get 25 zloty on the other hand the 25 zloty will go toward advertising, driver promotion, developer wages, self-driving car R&D, back office system, liaising with government in each country on legal matters, fight lawsuits and salaries of employees but it is less profitable.

On the other hand, why do investors still invest in this business ? for example this is Uber’s latest 4 quarter earning Q3 Year 2018, revenue around 2532 million dollar, loss around 835 million dollar, Q4 Year 2018, revenue around 2560 million dollar, loss around 751 million dollar Q1 year 2019, revenue around 2671 million dollar, loss 862 million dollar as you can see The profit is constantly increasing and there are still losses, making investors think that they can still make a profit and find a solution to the problem of losses of profitable.

In America when customer want to use delivery food service they have to spend a shipping cost, tip and cost of food but it make customer spend a lot of money for delivering 1 time that make they have to spend tip and shipping cost that makes this part of the cost almost equal to half the price of food and this isn’t worth for customer in America. In my opinion these food delivery companies might be difficult to do in the future because in this situation after COVID-19 pandemic people they didn’t work from home that make decreasing of profitable for those delivery companies. In the future, we have to see how these companies find the solution.

source:

Boom Time for Food Delivery Platforms, But Still Not Profitable (industryleadersmagazine.com)

https://en.m.wikipedia.org/wiki/Uber

https://www.businessinsider.com/uber-biggest-risks-according-to-wall-street-2019-8

https://www.pymnts.com/news/ridesharing/2018/uber-grab-sale-acquisition-profit-q1/

https://brandinside.asia/food-delivery-service-war/

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