Cars and cattle have been the historic “hot” issues for trade agreements such as NAFTA, but that was in a time before innovative technology was in the hands of nearly every consumer. Now, technology is one of the biggest wealth-generators in our economy, and elected officials aren’t sure what to do with that.
Canada is a prominent country on the world stage when it comes to technology. We’re leaders in artificial intelligence and blockchain technology, and we have a thriving startup ecosystem. Most startups hinge on proprietary technology, and technologists worry that NAFTA negotiations fail to address the finer points of tech law.
The new agreement, titled the United-States-Mexico-Canada agreement (USMCA) gives the US greater access to the Canadian dairy market and puts mandates on auto manufacturing. Conspicuously missing from coverage, however, is how technology professionals will be affected by new trade laws.
Intellectual Property is a huge consideration for Canadian startups, for most of whom see the United States as a goal market within two to three years of being founded. Entrepreneurs and developers who wish to travel to the States, as so many do, had to obtain a temporary visa for cross-border work. This is an area tech professionals want to see expanded going forward.
Joshi emphasized that IP laws must be “not only equal, but fair” for Canada-US-Mexico technology enablement. Canada is absolutely wealthy when it comes to talent and inspiration, but sometimes suffers from the short end of the stick with over-regulation. Breaking into the American market is a sign of positive progress for Canadian businesses. IP laws need to be structured to assist Canadian businesses, not hamstring them.
Also discussed was tariffs on items bought online in cross-border purchases. With the advent of e-commerce, Canadian and American retailers are able to go more head-to-head in targeting each other’s traditional customer bases. The internet allows customers to shop internationally from the comfort of their homes, which allows Canadian businesses to expand more aggressively through electronic mediums.
Summing up the discussion on NAFTA was Joshi’s advice to regulators: take data seriously. As personal tech grows, so does the collective reservoir of data. It’s essential that negotiators recognize tech as being a dominant force in the economy, and that they create policies to enhance innovation rather than stagnate it.
Technology stakeholders want fluid but secure cross-border movement when it comes to telecommunications, intellectual property and digital products. If the Canadian, US and Mexican government can uphold these desires then we’ll see an innovation landscape that produces great players, expanding on the already dominant framework of technology.
Artificial intelligence is on the tip of most CEO’s tongues as businesses race to maximize this technology. 62% of enterprises in 2018 have already implemented AI. Companies can’t afford to be without it, but what exactly is AI and how does it deliver results?
Artificial intelligence is an umbrella term for a machine capable of performing automated tasks. General intelligence like that of a human is still out of reach for AI programs, but there’s still tremendous value in it’s ability to process and filter enormous data sets. When it comes to getting to know your customers’ habits, this information is invaluable.
Equipping your mobile app with artificial intelligence gives you tools for automation, data analysis and user personalization. We break down the main use cases for AI in mobile applications, illuminating the very real present day benefits of this futuristically named technology:
1)Automated Reasoning – Solving Problems With Logic
The advantage of computers is that they can be programmed to follow rules of logic. This makes for consistent processes and outcomes for each and every user of the app. It also allows for methodical problem solving.
The field of automated reasoning is a subject of much fascination for roboticists, computer scientists and philosophers. In the context of your app, automated reasoning standardizes the user experience and makes it so users can find solutions to problems with no human help required.
2)Tailored Recommendations
One of the best benefits of artificial intelligence for businesses, artificial intelligence learns about your customers and can recommend products or content they’re most likely to enjoy and engage with. This can drive revenue for your retail app, encouraging shoppers to add another item for their basket if it suits them perfectly. AI derived, tailored recommendations are the backbone for sites like Netflix and Amazon, whose cutting-edge algorithms quickly learn about it’s users and feed them suggestions that keep them coming back.
3)Voice Assistance
Voice assistance is one of the hottest trends in tech, projected to be a paradigm shift for conversational interface. 20% of all Google searches are performed by voice, and voice assistants such as Siri, Alexa and Cortana are already ubiquitous.
Enabling your app with voice assistance AI puts it at the forefront of UX, or User Experience. Voice assistance AI is also better able to register emotion and tonality in the words of it’s users, which is an advantage over textual conversational AI.
4)Chatbots and Customer Service AI
All AI improves customer service, but few branches of AI have such an active role as conversational chatbots. Chatbots give the app user instantaneous access to “support staff”, answering user queries within the scope of it’s understanding. Night or day, wherever the user happens to be, they can interact with a chatbot quickly and easily rather than waiting indefinitely on hold for a human rep. This type of automation helps businesses scale while offering the same quality of service to their customers.
5)Image Recognition
Image recognition AI is gaining ground with apps such as Prisma and Nantmobile. Advanced neural networks are able to scan an image, identifying shapes and signifiers and piecing them together to identify what it’s looking at. Since the web is such a visual medium, image recognition AI will be greatly influential as it continues to find uses.
6)Advanced Analytics
One of the most valuable AI business tools is in-depth analytics insights. AI can process and filter extremely large data sets in minutes, the kind of clerical work that would take a human weeks to do. AI is then able to analyze the data and find patterns, make groupings and display results in a boiled-down form. Much of the buzz around AI centres on the escalation of data processing. Analytics are essential for revealing what’s working and what’s not on your mobile app. The greater the insights you have, the better positioned you are to create a product that is valuable to your users.
7)Unique Branding Possibilities
Big brands are seizing AI as a way to delight customers and differentiate themselves. With the advanced computing power of AI comes unlimited possibilities for creative usage. Procter & Gamble have developed an AI powered “Skin Advisor” app that analyzes users selfies and recommends a personalized skincare regimen for them. Furniture stores are creating apps that take stock of the user’s home and gives projections of what a new sofa, table or chair would look like in their space. Snapchat uses speech-recognition AI to notice when users say simple words like “hi”, “yes” and “love”, triggering special effects to emphasize the statement. AI can be used in any number of ways to add quirky or useful features to your app, making it stand out in the crowd.
8)Technology That Teaches Itself
One of the best things about artificial intelligence is it’s ability to learn from it’s own performance and make self improvements. This known as machine learning. Computers are able to analyze data and learn over time in an autonomous fashion. This has some people freaked out by the prospect of super-intelligent AI, but enthusiasts are excited for the knowledge breakthroughs that are already taking place.
Machine learning in mobile applications means that your app will only get better as time goes on, becoming more in tune with user habits and efficient at providing them what they’re looking for. Machine learning is so effective that self-taught computers are able to defeat human grand masters at games of strategy such as chess, Go and poker. You want your mobile app to be a step ahead so it can always be in the position of guiding the user, and not the other way around.
Intelligent apps are already transforming how we communicate, design, socialize, do business and get around in the world. The apps that cause a sensation are the ones that offer the best, most personalized and fluid experience to the end user. To remain at the forefront of the highly competitive app industry it’s essential to implement targeted AI for the wealth of features and insights it provides. Artificial intelligence isn’t something to be feared; it’s a tool that every business should learn how to harness.
A great user experience requires a strategy that considers every detail. If you’re looking to build an intelligent app that will make a mark in your industry, contact our mobile app development company in Toronto. Contact TheAppLabb at (416) 745-3164 or visit our contact page here.
There’s absolutely no question that the internet is one of the greatest driving forces of our economy. The digitization of education, employment offerings, business communications and product development has helped to level the playing field for all Canadians to participate. TheAppLabb is honoured to be included in Google’s Economic Impact report on how Google’s suite of services enables businesses to create, collaborate and scale.
Kundan Joshi initially studied engineering before opening his eyes to the disruptive potential of mobile technology. This foresight has come to fruition with the enormous success of app-based businesses that looked at the market landscape and used technology to mould it to their advantage. Joshi founded TheAppLabb to assist businesses develop an innovation route for their own operations. The union of technical prowess, strategy and customer-centrism has allowed TheAppLabb to grow to a global app company with expertise in a broad range of emerging technologies.
Google products have helped Canadian businesses generate 10.4 billion dollars of economic activity for the year 2017. Google’s simple interface, ease of use and collaboration focused structure give businesses powerful tools to create and store their assets. In Ontario and Canada-wide, local businesses wouldn’t be the same without the backbone of Google.
The whole report, created by Deloitte, can be found here.
TheAppLabb is honoured to be featured alongside prominent Canadian businesses such as Skip The Dishes, Shopify and Wealthsimple. Google will continue to be an important business partner for years to come, helping Canadian businesses large and small to operate at the highest possible standard.
[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]Artificial Intelligence can be vital in banking as well, businesses in other sectors such as retail have started to adopt emerging and disruptive technologies into their practices, however the banking industry seems to be lagging behind.
With the paradigm shift in regards to delivering optimized services, incorporating chatbots in mobile apps is an emerging technological trend that brings sophistication and engagement to the table. It comes to no surprise that in this generation influenced by technology, chatbots has made great strides towards utility.
How can chatbots take on the role as a bank teller and as an advisor/role of Artificial Intelligence in banking?
Primarily, they can be capitalized through the interaction with customers pertaining transactions, money management, and financial assistance. As chatbots are also notable for problem solving, they also have the ability to sort out predicaments to bank related issues.
As a potential banking solution, chatbots can be highly engaging in a way that can assist users with their finances highlighted through beneficial ways:
Implementing 24/7 availability, chatbots can readily respond to financial inquiries such as guidelines on how to apply for insurance, how to invest money, and how to pay off bills. In terms of insurance, chatbots can provide several options that are best suited for a user’s coverage needs.
Notifies users about their spending habits and provides effective guidelines on how to save money. Financial chatbots also monitors their expenses for a better understanding about a user’s financial status.
Enables users to sign up for insurance plans as well as setting up a savings account.
Automates budget plans so users can manage their money more efficiently.
Displays transaction history and allows users to initiate money transactions. When transferring money, chatbots will be implemented with a protocol that ensures state-of-the-art security measures.
Provides educational content that could help users reach better financial decisions.
Delivers effective problem solving skills by providing solutions to common issues such as a missing debit/credit card, unexplained fee payments, or fraud. Financial chatbots can develop an ability to cancel any transactions, therefore giving back the money you deserve.
How modern banking will utilize AI/chatbots
Chatbots in the financial sector requires more attention to keep the margin of error zero. The risks are much higher as people’s money is at stake. Furthermore, AI powered app development companies should focus on creating chatbots with a solid infrastructure with emphasis on user experience to efficiently meet the user’s’ needs.
The financial market never sleeps. With the addition of Artificial Intelligence in banking industry, institutions will seamlessly provide enriched service to their customers.
With 6 global offices including New York, TheAppLabb can help you incorporate chatbots into your mobile app today. Contact us at info@theapplabb.com for more information.
Employee Experience (EX) is a Top Priority for 2018
Since the boom of ecommerce, businesses and app developers in Toronto have been focusing on customer experience – improving the customer journey. This leads to a better user experience with a brand and it helps ecommerce businesses capture on a consumer’s micro-moments.
This has driven new trends in User Interface (UI) design and workflows. Since the customer is front and centre of every interaction, they control how and when they’ll intersect with your brand. On the web and through an app.
What About All the People that Support These Businesses?
Shouldn’t employees have the same priorities as the customers? Employee Experience focuses on all the interactions stemming from an employee’s perspective.
The goal is to drive higher engagement through the use of technology:
To enable better internal communications
Improve productivity through performance reviews
Using artificial intelligence (AI) to push relevant training materials and news feeds to develop their competencies
Improve corporate brand
Why Should Businesses Care about Employee Experience?
Based on a report from Deloitte, employees are changing jobs more frequently. It’s crucial that businesses keep up with the rate of change through succession planning, promotions and rapid fire training. Typically, engaged employees are 17% more productive and take less leave time.
Calculator: Cost of Employee Disengagement
Let’s find out the true cost of a disengaged workforce. On average, 17.2% of your workforce will be disengaged. Once they get to this point, they’re looking for their next opportunity.
It’s rarely about money. Most often it’s about they WHY! Why they are spending their time at this company. Without understanding the why, they’re not vested in performing at their peak.
Not knowing the WHY, will cost you 34% of an employee’s annual salary. If you have a large workforce, the costs start to add up fast. Imagine loosing 34% of productivity with almost 1/5 of your workforce!
To use the calculator you’ll need two data points. The number of employees and the average cost of your workforce’s salary. From there it’ll calculate the total amount you’re loosing on every year due to disegagement.
Written by: Colleen Rodericks[/vc_column_text][/vc_column][/vc_row]
Any process that requires human intervention will see process improvements with the use of artificial intelligence (AI). It’s not meant to replace humans but to minimize inefficiencies and redundancies. It shouldn’t be viewed as dehumanizing, but a tool to assist with advancement.
It’s natural to be fearful of the unknown. Anytime in history where automation and/or technology was introduced, there’s always the nay-sayers who followed.
With every new advancement, such as the washing machine, dishwasher, vacuum, it has enabled humans to enjoy a higher standard of life – reducing the time spent on tasks that otherwise would take an entire day.
A great example of machine advancement took place in 1714. Henry Mill, patented the typewriter calling it “an artificial machine…”! The typewriter enabled business communications to evolve – it increased the pace of information from one department to another.
The workplace changed. Businesses invested in people – Typist in particular. With a great Typist you were able to get more information out to stakeholders, departments and customers, than with the written word.
A typed letter was easy to read and it didn’t depend on a Writer’s penmanship. Beautiful handwriting is an art – however not very effective for mass communications.
The evolution of a personal computer with the power of a word processor, soon outpaced the typewriter – Spell Check minimized human errors. Computing power transformed the way people worked forever!
Fast forward and artificial intelligence is embarking on the same revolution. The advancement of smartphones has pushed the boundaries of information sharing and data consumption and creation.
Out of all the data in the world, It’s crazy to think that 90% of data was only created two years ago. Our data output is approximately, 2.5 quintillion bytes a day. That’s equivalent to going around the Earth 5 times!
A computer program would have a hard time to keep up with all this data! That’s why the adoption of artificial intelligence has started to go mainstream.
Why are companies turning to AI instead of the traditional software?
A computer program needs a Programmer to tell it, if, and, what to do…
The software is dependent on the development skill of the mobile app developer. In contrast with deep learning, it takes away the dependancy. The AI algorithm analyzes a user’s interactions.
As the artificial intelligence robot becomes smarter, it personalizes the right type of content for the user. It makes finding information easier – minimizing time spent on search. AI is a tool to optimize inefficient processes.
AI in Media
In media, AI is used for personalization. If you use Netflix and/or YouTube for video streaming you’ve experienced it. Content is personalized based on your viewing habits, preferences, etc.
AI isn’t just providing a personalized experience for subscribers. On the backend, artificial intelligence is able to minimize editing and production time.
With the massive amounts of data out on the World Wide Web, unstructured content such as video is nearly impossible to find – unless someone has manually meta tagged and wrote the descriptions for each video.
Now with video captioning, descriptions must also be written for every frame.
AI for Media automates this task. Through the use of facial recognition, sentiment, groupings and genres it categories the video efficiently – with natural language processing (NLP) it transcribes the spoken word from each frame to written word.
By having every frame tagged and with proper descriptions, it’ll enable the content to be found on search engines more readily.
Cognitive/artificial intelligence can also help with getting content on the screens faster. What an audience views as a 90 minute movie, would of taken a studio months of planning and work – writing, storyboarding, filming, editing, testing and revising.
AI can shorten editing and testing times. With deep learning, the AI engine understands an audience’s sentiment and it can restructure the storyline in the right sequences to make it more enjoyable. It doesn’t mean that an Editor or a Writer isn’t needed anymore. If anything, it’ll free them up to work for other projects.
AI for Pharma Research
AI can benefit the research field. Artificial intelligence for Pharma can help maximize research dollars. When it comes to drug discovery, it can take years of research, resources and clinical trials. All this can result in nothing.
AI gives pharmaceutical companies an advantage – the race against time! Instead of looking at a pile of needles in a haystack (for a cure), an AI engine can hone in on specific needles – the ones with the highest probability of becoming a cure.
AI can cut down research time – by eliminating the need to spread their research dollars across areas. It can focus it’s research dollars on specific areas with the intent to optimize a drug’s time to market and lower costs for drug discovery.
Conversational Chatbots
AI is already interacting with us in our daily lives on social media and with chatbots. Chatbots can be through messaging interface or voice such as with Google Duplex.
A conversation bot can be so natural. It understands inflections and even the right pauses and tempo.
Many would say it’s unethical and even deceptive. But in a digital age where consumers expect everything at their fingertips, the only way to provide that level of service requires augmented assistance.
Whether you like or not, artificial intelligence is here to stay. For humans to control it, we need to set tight parameters of what it can do. Unleashing too much power to a machine or even a human can cause negative implications.
You wouldn’t give a new driver, keys to a Lamborghini and hope that he/she drives within the speed limit. Ahh…that’s not going to happen?!?! They’ll be flooring the gas pedal! Just like you wouldn’t unleash an artificial intelligent bot to do as it wishes.
A good example of a bot going off the rails, is in 2016 with Microsoft’s Tay AI. In just half a day it was taught by Twitter users to become offensive and vulgar. When a bot has no filters or parameters, things can go amok.
Just like a child, a parent’s moral compass must be instilled into the next generation – with a good foundation and strong principals. This will mitigate future risks if someone attempts to compromise them.
Since bots eat what they’re fed, it’s vital that Cognitive/Artificial Intelligence Developers be impartial – not to instil their opinions or judgements on the machine. The goal is to use AI to help humans not to hinder them.
As long as humans use data (based on IDC’s research it will continue to grow), artificial intelligence robots will be around to help make sense of it!
Written By: Colleen Rodericks[/vc_column_text][/vc_column][/vc_row]
Businesses CAN’T afford to have disengaged employees! According to Gallup, a disengaged employee costs a company 34% of their total annual salary. On aggregate 17.2% of a workforce is disengaged.
Since the Dotcom boom of the 90’s, companies have been trying to obtain high standards of employee satisfaction through: company perks, wellness incentives and even subsidized food plans to satisfy the foodies.
Has any of these strategies really helped with employee engagement? How do organizations get their employees engaged and find their swagger?
Employee Engagement
Employee engagement is very tied to the MAGIC of the company. To capture the magic, employees must have five key elements to help them become successful.
In the MAGIC of Employee Engagement white paper from our app development company in Canada, it’ll will break down each element and map out the benefits of each one.
Written By: Colleen Rodericks[/vc_column_text][/vc_column][/vc_row]
[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]Whenever a traveler is looking for an inexpensive ticket, a decent place to stay or searching for popular tourist attractions, the researching process can be time-consuming and tedious. Oftentimes, travellers encounter hindrances such as unmet travel essentials, safety concerns, flight delays, and anything in between.
By introducing chatbots in mobile apps to the travel industry, they can take on the role as a convenient guide. Ultimately, travel bots can improve the company outlook by delivering automated responses and performing everyday tasks. Additionally, they can handle a bombardment of phone calls pertaining to booking arrangements or travel inquiries. Travel bots can deliver optimal results for not only airlines but for hotel companies by tackling these demands:
How Can a Travel Chatbot Deliver Optimal Results?
● Meets the needs of the traveller in terms of e-booking the ticket, searching and comparing fares, and viewing confirmation of the ticket purchase.
● Being able to save searches pertaining to round-trips, one-way, or multi-city.
● The ability to view flight details including flight fare, flight duration, departure and arrival time, as well as in-flight experiences.
● Show comparisons of airlines, flight duration, and price.
● Integrate payment and confirming the payment.
● Accommodate travelers with hotel bookings and room pricing which add on the enriching experience of a travelbot.
● Offers multilingual language for international travellers, therefore removing the barriers between the user and the interface. This feature will allow hotels and airlines communicate travellers in a clear and efficient manner.
● Provides answers to frequently asked questions such as facilities, permitting pets in hotel rooms, or vacancy.
2 online travel agencies that are already implementing chatbots:
Expedia.com recently created its Facebook Messenger bot. The bot is designed to search and book hotels for travelers. Customers just enter their destination, travel dates and the number of nights. The bot then provides five possible options which all can be viewed inside the Facebook Messenger app. Users can then choose and confirm their booking all in the Messenger app.
Skyscanner like Expedia also has a Facebook Messenger bot. The bot is programmed to search and book flights. Customers enter their start point and destination and are provided with the cheapest fares available. From there travelers can click on the one they want to confirm, and will be taken out of Messenger and into the Skyscanner site to complete their booking.
Online travel agencies have now become the standard of the travel industry. Travel agents are slowly diminishing as customers have access to more information than ever before. However, many customers still prefer the human interaction and someone to talk to if they have questions or concerns. Now, chatbots can provide that service for which online travel agencies have been lacking by providing help similar to a travel agent’s and still reducing costs by actually having these agents on payroll.
The travel industry will be undergoing a major shift in customer experience with the introduction of chatbots. But with the help existing messaging app platforms, Airlines and travel agencies will be able to reach out to more customers and provide an exquisite user experience.
TheAppLabb‘s white-label platform TheTravelApp is an ideal solution for travel agencies. As leaders of innovation and technology, we are here to help you maximize your business!
[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]Augmented reality, the sibling of VR, is also one of the most sought-after technologies among businesses. It is one of the most user-friendly types of technology due to its practicability. Whether it’s a trade show or a conference, using augmented reality at your next event could be the most effective way to present your idea to your entire audience.
AR is well known for providing a number of solutions and enhancements in many fields and positions such as social media, digital marketing, and others among them. Augmented reality can be used in just about any industry and will help make your event memorable. If VR has the potential to renovate the events industry, AR has the potential to change the shape of commerce thoroughly.
AR offers a variety of opportunities for brands and planners at events ranging from entertainment and client engagement to educating attendees about the company and its products and services. Here are 3 types of Augmented Reality alternatives to use at your next event.
Wearable AR
Unlike virtual reality headsets such as Oculus Rift where the user becomes immersed in an entirely different world, AR headsets still allow users to see the real world but with computer generated elements. An example of this is Microsoft’s Hololens, which is the best augmented reality headset to date. Wearable AR has many benefits as it creates a hands-free experience, allowing users to move around and interact with the virtual elements in the real world freely. This is great for product demonstrations at trade shows as it provides a seamless experience of the virtual world seeping into reality. The only drawback at this time is the cost to implement, AR headsets are expensive, but hopefully with many companies creating the technology, it will become a more affordable solution to enhance your next event.
Mirror based AR
This type of Augmented reality is interesting as mirror based AR allows virtual elements to be placed on the reflection of user which is specifically beneficial for fashion and beauty events. Attendees would be able to see the newly designed clothing on them without even changing into them!They can even see what the newest hairstyles and beauty trends would look without actually applying them. This will spark interest to your booth/event. It provides an immersive experience for attendees and would definitely put an impression on them.
Deviced-based AR
Nowadays, everyone is carrying some sort of smart device, whether it be a tablet or smartphone. This form of AR has been around for a while but it’s the best bet of implementing it at your next event. Device-based AR allows users smart devices as a window into an augmented reality by using the camera as a viewfinder. Furthermore, this type of AR is already well-known with the introduction of Snapchat and their “smart filters”. This form of AR can easily be incorporated into an event app that activates when attendees travel around a booth or it can be installed in pre-configured devices and provide an enriched experience. This is beneficial when educating attendees about the brand and its products in an interactive way.
In conclusion, Augmented reality is the all in one tool that could make your event a hit. It is easy to personalize, its versatility is unmatched, and is intuitive and easy to use. AR is being revamped as a technology that seamlessly integrates the digital world with the real one. Moreover, with more tools and resources being created this technology truly has the potential to set the standard in event planning and could be what you are missing to take your event to the next level.
[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]Apple Pay and Android Pay made a big entrance in the tech world when it was introduced as it was innovative and groundbreaking. However, with the current fast-paced development of alternative methods, even more advanced methods of payment are emerging. Artificial intelligence is the future and ideas are becoming more advanced.
Facial Recognition – Face++
As of recent, there has been a new method of payment that is ready to blow Apple Pay and Android Pay out of the waters. Face++, is a software developed by a Chinese startup valued at a billion dollars. Face++ allows you to make payments through facial recognition. Facial recognition is an emerging technology that has been introduced in other technologies such as using facial recognition to unlock a smartphone or keep the screen on. Facial recognition is now evolving and is able to be used as a form of payment method. It recognizes faces with impeccable accuracy, allowing a person to make secure and reliable payments. Face++ works with many well-known companies, such as Alipay, Didi, Lenovo and Camera 360, to provide its unique services in shopping and technology industries. For example, Alipay is one of the largest mobile and online payment platforms established by Alibaba Group. With Face++, Alipay allows users to reset a password through facial recognition.
Face++ is already working with Xiaomi Financial and Zhongxin Bank, but the company faces its biggest competitor, Tencent, when it comes to expansion in the banking industry. Tencent has an important advantage in legal aspects, therefore Face++ has more room to improve. Speaking of legal issues, although Face++ has gained a lot of popularity and demand in China, the software will face more obstacles in the West. This would be due to the Western countries’ attitude towards surveillance and privacy. China has an enormous centralized database of ID card photos. This also allows the Chinese government to use Face++ to identify criminal suspects.
Facial Recognition Payments in North America
Facial recognition is not a new idea, it has been around for many years. However, it was inaccurate and of low quality to be used in such important matters as banking and surveillance. Face++ breaks those barriers and proves that it can be done. The impact of artificial intelligence is on a constant rise and new advanced technology and ideas are consistently emerging. Many countries have already began incorporating facial recognition into their softwares. Soon, facial recognition will be the main form of payment and other activities worldwide.
Through our R&D – InnovationLabb, TheAppLabb builds solutions with emerging technology, including artificial intelligence. As leaders in technology and innovation and experienced app developers in Toronto, TheAppLabb is ready to help you get in touch with the future!
