<p>The evolution of bots is one of the most significant trends observed in the field of automation. With automated systems becoming more and more mainstream, bots are now the go-to solution for companies to deliver immersive and highly sophisticated services to their customers. The last decade, in particular, has witnessed quite a massive influx of bots in industrial operations, making bot as a service (BaaS) one of the most sought-after automated tools.</p><p>The spectrum of bots is quite diverse, so to say. it includes robots, chatbots, and, more famously, personal/virtual assistants such as Siri, Alexa, etc. In layman's parlance, bots are simply automated programs that help people perform repetitive tasks. In the early years, bots were used for financial gains, for creating fake accounts on money transfer platforms for fund exfiltration. Today, bots have evolved into tools that can be suitably customized to target specific applications. In consequence, bot as a service (BaaS) is witnessing a steady rise, with consumers using these conversational interfaces more and more to interact with companies.</p><h3 id="the-difference-between-bots-robots-chatbots">The Difference Between Bots, Robots, &amp; Chatbots</h3><p>One might wonder whether there is any difference between bots, robots, and chatbots. For an amateur, these words may be used interchangeably. However, there is a vast difference between the three.</p><p><ul><li>A robot is basically a device/machine used in core industries such as manufacturing and FMCG. Robots are used to automate heavy machinery and other tasks that may help reduce human intervention with efficient AI-based solutions.</li><li>A bot is a computer program designed to perform repetitive, redundant tasks. It is also designed to automate customer interactions and helps facilitate website engagement. Search engines have used bots for a long time in the form of web crawlers for content analysis and indexing sites.</li><li>A chatbot is an automated tool used specifically for conversational interactions. Companies like Amazon have been using chatbots extensively to interact with their customers and directly enrich the buyer experience. It is more like a sub-genre of bots.</li></ul></p><h3 id="chatbot-as-a-service">Chatbot as a Service</h3><p><strong><em>According to a Forbes Insights survey conducted in 2018 with 700 C-suite executives, 86% of companies use chatbots for customer service.</em></strong></p><p>Although chatbot as a service has gained momentum in the last decade, it has been around for a considerably long time. History reveals that the first chatbot to have ever been developed was called 'ELIZA', in 1966 at MIT. ELIZA was designed to answer simple questions on decision support tools. With time, chatbots evolved to be sophisticated consumer interaction tools, and today, they contribute immensely to simplifying the purchase research for buyers. Designed in the form of intricate FAQs, chatbots provide responses to common and specific queries for buyers, making it easier for retail companies and the like to provide enriching customer services. In the future, chatbots are expected to play a major role in customer acquisition, engagement, and retention.</p><p>Chatbot as a service is also getting popular due to the thriving e-commerce industry. In an era where online shopping is the rage, customers pose various questions about the products they buy. This, in turn, drives the need for well-designed chatbots that deliver quick, automated responses to customer queries, effectively eliminating repetitive tasks for human employees.</p><p>The airline industry has adapted to using chatbots as a service as well. SpiceJet, for instance, has leveraged Nuance's conversational AI technology to launch 'Pepper' which helps customers undergo a smooth and seamless experience, right from booking tickets to web check-ins and refunds to seat selections.</p><p>Come ahead; chatbot as a service is only bound to get bigger as tech companies continue to break barriers with cutting-edge products. For instance, the cloud-based app-building platform Appy Pie&nbsp;<a href="https://www.expresscomputer.in/news/appy-pie-unveils-gennext-chatbot/78997/">recently launched a new conversational AI-enabled chatbot</a>. This virtual assistant can be suitably customized as required by the industry vertical in question, such as HR management, healthcare, BFSI, etc.</p><h3 id="rpa-bot-as-a-service">RPA bot as a Service</h3><p><strong><em>According to Gartner, robotic process automation (RPA) software valuation depicted an increase of 63% in 2018, hitting USD 846 million. Research firm MarketsAndMarkets predicts that the market size is likely to reach USD 12 billion by 2025.</em></strong></p><p>Robotic process automation works a little differently from the other bot-based tools. Note that there is a difference between RPA and RPA as a service. The former includes using robots for automating business operations and reducing human intervention. On the other hand, RPA as a service indicates that businesses will be able to leverage the many benefits of RPA without having to pay upfront for the technology, which is quite expensive.</p><p>At its core, RPA as a service delivers extreme flexibility. With RPA, companies will not require to purchase their own licensing or professional services. It has been quite a challenge for companies to implement RPA at scale; that's where RPA as a service comes to the rescue.</p><p>RPA as a service ensures that the robots will function only when needed and only to carry out the required tasks, thereby ensuring maximum utilization. It helps to optimize the features of RPA so that companies can manage their investments in the software as they continue to bring in more processes in the business operations.</p><p>RPA as a service finds extensive applications in the financial realm. <a href="https://www.housingwire.com/articles/hpas-rpa-as-a-service-enables-lenders-to-reduce-risk-and-automate-85-of-the-loan-cycle-process/">HPA, for instance, has adopted RPA as a service</a> and has been able to enable its lenders to automate 85% of the loan cycle process, thereby reducing risk and saving time and money. This, in turn, has also allowed the company to focus more on loan officer retention and business expansion.</p><h3 id="web-scraper-as-a-service">Web Scraper as a Service</h3><p><strong><em>According to SeedScientific,</em></strong></p><p><ul><li><em style="">At the onset of 2020, the amount of worldwide data was predicted to be 44 zettabytes.</em></li><li><em>Facebook, Amazon, Google, and Microsoft have at least 1,200 petabytes of information stored.</em></li><li><em style="">The daily data generation is expected to hit 463 exabytes globally by 2025.</em></li></ul></p><p>Let's get introduced to the notion of web scrapers to begin with. The snippet above clearly depicts how data-centric the world is going to be in the next few years. The reliability of data generated by companies to be used in core applications is only going to increase with time. However, when professionals require large amounts of data from the web, obtaining the same through manual methods becomes a mammoth, time-consuming task. Here's where web scraping comes in. It refers to an automated process that helps obtain a huge chunk of data from various websites. Initially, the data is unstructured and is later converted into structured data stored in a database.</p><p>Web scrapping is undertaken using varied ways, specific APIs, customized code, and online services. Web scraping as a service finds tremendous end-uses today across major industries as well as one-time customers. The process is done using automated tools and requires two parts; the crawler, an AI algorithm that assists in web browsing, and the scraper, the tool that helps extract data from the website in question.</p><p>Web scraping as a service is deployed majorly in marketing, such as:</p><p><ul><li>SEO practices</li><li>Monitoring social media channels</li><li>Competitor analysis</li><li>Financial statistics</li><li>Real-time analytics</li><li>Talent acquisition (Recruitment)</li><li>Equity Research</li><li>Lead Generation</li><li>Automation</li><li>Consumer analysis</li><li>Price point comparison</li><li>Market Research</li><li>News aggregation</li><li>Email marketing</li></ul></p><p>Although a little less popular than its counterparts, web scrapping as a service is one of the most vital technologies used today. Most web scrapping services are reliable, quick, affordable, and quite accurate. It does come with its challenges, especially if the websites are quite complex or the data to be scrapped is humongous. Nonetheless, web scraper as a service is expected to moderately disrupt the automation industry in the future.</p><h3 id="benefits-of-implementing-baas">Benefits of Implementing BaaS</h3><p>There is no limit to the incredible benefits that BaaS provides to companies. Some of them are enlisted below:</p><p><strong>Surge in sales</strong></p><p>Given that they are available 24X7 and are quicker, smarter, and respond appropriately, bot as a service is bound to boost sales for companies. A well-designed bot helps improve the company's image and brand name worldwide as more awareness pertaining to its products, services, and processes comes to light.</p><p><strong>Customer acquisition and retention</strong></p><p>Deploying a bot as a service will help customers get answers to their queries much faster, especially during peak hours. According to a survey carried out by the teams at Salesforce, myclever, SurveyMonkey Audience, and Drift, around 64% of customers reported that the main benefit of bot as a service is that it is available 24X7, while 55% of customers reported that the main advantage according to them was getting an instant response to their queries. This automatically translates to companies being able to acquire and retain more customers.</p><p><strong>Customer engagement</strong></p><p>Bots help to substantially increase customer interaction. As they continue to resolve queries quickly, more and more customers will prefer getting their questions answered through bots, majorly increasing customer engagement.</p><p><strong>Cost savings</strong></p><p>Companies will be able to save tremendously with bot implementation. The presence of bot as a service helps reduce the need to hire more customer service executives. Lesser labor results in considerable savings on customer service agent salaries, infrastructure, and so on.</p><h3 id="challenges-of-baas">Challenges of BaaS</h3><p><strong>Lack of direct conversation with humans</strong></p><p>While most customers may be comfortable with a bot, a section of them may still prefer the human touch. At the end of the day, a bot is but a mechanized tool and may not offer the convenience one may have with actual customer service executives.</p><p><strong>Maintenance</strong></p><p>Although installing and implementing bots does not require a huge investment, maintaining and optimizing them periodically as per user requests may result in considerable costs.</p><p><strong>Loss of jobs</strong></p><p>While it may be advantageous for companies to reduce their workforce, implementing bots in the long run, on a huge scale, may have a massive impact on the job market. Many customer service agents are likely to lose their jobs, triggering a major imbalance.</p><h3 id="future-thoughts">Future Thoughts</h3><p>Despite the listed challenges, bot as a service market size is anticipated to depict a commendable surge in the years ahead. The latest trend making waves in this industry is the cloud BaaS. In this case, automation is delivered as a service in the cloud. That is to say, it does not run in a company's server room, but instead runs on a network of remote servers. How ingenious is that?</p><p>Recently, <a href="https://azure.microsoft.com/en-us/blog/microsoft-azure-announces-industry-s-first-cloud-bot-as-a-service/">Microsoft announced the launch of the Azure Bot Service</a>;&nbsp;the company's first public cloud bot service built using Azure Functions and the Microsoft Bot Framework. This cloud bot service deploys Microsoft Azure and provides a platform to build and manage intelligent bots. With an increasing number of customers demanding automated services, bot as a service is likely to create a transformational impact in the future.</p>

Saipriya Iyer

Premium reporting on technology, startups, VC funding, and software from Techfastly tagged with AI. Read about themes, trends and strategies for AI.

Artificial Intelligence

How Bot as a Service (BaaS) Will Impact the Future of Customer Management

<p>The explosive growth of the Internet of Things (IoT), 5G networking, and smart technology has brought about a considerable digital transformation across the globe. This has in turn, generated an accelerating demand for data storage and distribution, given the unprecedented data volumes. While sophisticated network and infrastructure are being simultaneously developed, the increase in the number of connected devices has led to data complexity.</p><p>In consequence, this has resulted in the demand for an innovation that not only helps resolve the data storage issue to some extent but also overcomes the bandwidth and latency issues that crop up while storing data in the cloud or decentralized data centers. Here?s where edge computing enters ? it offers a more viable, efficient alternative as compared to the two aforementioned options.</p><h3 id="what-is-edge-computing">What is Edge Computing?</h3><p>A distributed computing framework bringing data proximity at source, edge computing is one of the latest, ingenious innovations of today. In an age where data volumes continue to expand and the requirement of IoT devices continues to increase, edge computing helps to bring computing as close as possible, to the data source. This consequently reduces latency and the usage of bandwidth. Edge computing also helps reduce the number of processes running to in the cloud and shifting them to local servers, thereby decreasing the proportion of long-distance communication between a client and server.</p><p>Literally speaking, ?edge? refers to the geographic location on the planet to where services are to be delivered in a distributed manner. So, as opposed to locating the data at a centralized place, edge computing helps to distribute the data computing process. In technicality, cloud computing is a faster process, however, as far as computing methodologies go, edge computing takes the cake. As mentioned earlier, it basically aims to move data computation away from the data centers and closer to the edge of the network, thereby enhancing network technology.</p><p>Statistics claim that <a href="https://cloudtweaks.com/2015/03/how-much-data-is-produced-every-day/">at least 2.5 quintillion bytes of data</a> are produced every day. With this amount, computation becomes rather difficult even for data centers. There is an increase in response time as well, in addition to diminishing bandwidth limit. With edge computing though, it is possible to have better data storage, efficient delivery of service, and an overall, enhanced digital transformation.</p><h3 id="the-involvement-of-companies-in-edge-computing">The Involvement of Companies in Edge Computing</h3><p>Given its advantages, edge computing is being used by a score of companies in daily operations, spanning industries such as healthcare, BFSI, IT, retail, energy, etc. Enlisted below are a few examples of companies adopting edge computing for faster responses and better service delivery:</p><p>? Supply chain service provider <a href="https://apnews.com/press-release/pr-newswire/technology-business-artificial-intelligence-7299f32514f5bee9bcc2bbf2ee59cc34">Savage recently announced</a> that it has selected AI and edge computing leader Netradyne to use its Driveri? devices in over 1000 vehicles. Driveri for the record is an advanced fleet safety camera platform that leverages AI and vision-based edge computing to reward positive driving behavior.</p><p>? <a href="https://cio.economictimes.indiatimes.com/news/cloud-computing/lenovo-delivers-new-innovation-for-resilient-edge-computing/86006228">Lenovo ISG (Infrastructure Solutions Group) and VMware recently announced</a> that the former will be the first to sell the latter?s software solution for the edge that runs on the ThinkSystem SE350 Edge Servers. The VMware software solution will be pre-loaded on security-enabled ThinkSystem SE350 along with the new solution that will be directly delivered to the customer edge sites.</p><p>? <a href="https://www.msn.com/en-us/news/technology/verizon-microsoft-partner-to-bring-5g-edge-computing-to-azure-stack-edge/ar-AANZ4XP?ocid=BingNewsSearch">Microsoft and Verizon extended their major edge partnership</a> recently. The extension aims to bring Verizon's 5G Edge to the Microsoft Azure Stack Edge. The combination will apparently deliver higher security levels, higher bandwidth, and increased efficiency.</p><p>? <a href="https://www.governmentcomputing.com/technology/company-news/colt-and-ibm-to-partner-on-5g-and-edge-technology-solutions">IBM and Colt Technology Services have announced plans</a> to collaborate on edge technology solutions by helping customers adopt edge computing strategies for moving data from private data centers to the hybrid cloud framework.</p><p>? <a href="https://www.proactiveinvestors.com/companies/news/960576/vuzix-teams-up-with-verizon-to-deliver-bluejeans-optimized-for-5g-edge-computing-to-customers-960576.html">Vuzix Corporation declared recently</a> that Verizon?s BlueJeans will be using Verizon's 5G network and deploying Mobile Edge Computing to come up with an industry-first approach that?ll help enhance service quality, reliability, and delivery and expand the performance of BlueJeans which is running on Vuzix Smart Glasses.</p><h3 id="benefits-of-edge-computing">Benefits of Edge Computing</h3><p><strong>Speed &amp; Latency</strong></p><p>Quite naturally, speed comes to be one of the most distinguished advantages of edge computing. The technique allows data processing on the network edge or at a local data center, reducing latency. This enables quicker data computing, something that is vital for industries such as healthcare, defense, and BFSI. </p><p>Financial institutions, for example, use trading algorithms and the like that require fast computing. Even a fraction of delay here can prove to be disastrous. Or, consider the example of an autonomous vehicle, where data collected every second (or in multiples of seconds, more likely) matters, especially on the roadway. With edge computing, data can remain on the central server instead of traveling back and forth between the cloud.</p><p><strong>Cost savings</strong></p><p>Data comes in varied forms and holds different values; on that account, the capital spent on storing, securing, and managing all kinds of data may prove to be exorbitant. This is because, some data may be highly crucial and valued, while some may be dispensable. Edge computing eliminates this issue by enabling users to categorize data from a management perspective. With this technique, one need not spend thousands of dollars on bandwidth to connect all locations; vital data can be retained within edge locations. Edge computing helps reduce data redundancy, thereby enabling cost savings for organizations.</p><p><strong>Security</strong></p><p>Given that cloud infrastructure is centralized, it proves to be quite vulnerable to cyber-attacks and other cloud security threats that can disrupt the entire operations in major organizations. Edge computing on the other hand spreads data storage across many devices and networks, thereby minimizing the impact of any attacks on the whole network.</p><p>Mobile computing has made data security even more complicated, as organizations are now more vulnerable to attacks given that enterprise data gets outside the firewall boundary. This increases the significance of edge computing, as it enables local data to remain protected within the on-premise security framework.</p><p><strong>Reliability</strong></p><p>Edge computing considerably reduces the reliability of an individual system on the central network. Devices on the edge of a network locally store and process data, thereby improving reliability. It also ensures the use of prefabricated micro data centers that help eliminate problems arising due to poor connectivity. In case of a power outage, IoT devices can automatically handle most operations themselves.</p><p><strong>Scalability</strong></p><p>Edge computing helps enhance scalability, as a combination of devices and local data centers can help facilitate consistent performance. However, this is not the kind of expansion that will pressurize the bandwidth of the central network. This is because you can colocation services for expanding edge networks without investing a lot of capital. One can also buy IoT devices for expanding the edge network.</p><h3 id="how-it-is-essential-for-digital-transformation">How It Is Essential for Digital Transformation</h3><p>The advent of digital technology has changed the dynamics of most businesses as of today. Digital transformation has come to play a crucial role in modifying business processes and customer experiences. The replacement of conventional business models with digital technologies can be credited to edge computing, to some extent. It perfectly complements important digital transformation strategies as it helps to store and manage important data required in digital use-cases. What?s more, with edge computing, manufacturers can effectively implement new digital technologies to prepare for unplanned downtime, plan maintenance, combat potential outages, and ensure via critical monitoring that machines are operating at optimum efficiency.</p><p>Implementing digital transformation involves extensive data analysis so that enterprises are able to deliver quick value to customers. As the amount of data continues to grow and more people need to connect, edge computing becomes more critical. Organizations are also combining machine learning and AI tools with large data sets, which makes it mandatory to use an edge computing approach to enhance business outcomes.</p><p>BFSI organizations have been widely adopting edge computing for digital transformation so as to bring about new consumer experiences through bots and voice-enabled assistants. Keeping devices on the network edge helps increase the consistency of services provided to users, as these services will be able to leverage wearables, connected devices, and more.</p><p>Digital transformation has found massive adoption in the retail sector. In consequence, retailers have been deploying edge computing systems in warehouses and stores. The need to have devices on the edge becomes a mandate, given the rising usage of IoT-enabled devices in e-commerce, including digital signage, point-of-sale systems, and more.</p><p>The FMCG sector also uses edge computing for digital transformation. Having devices on network edges considerably aids the adoption of digital technologies in consumer goods companies, supply chain visibility, and logistics. Using edge computing, FMCG firms can obtain visibility in operations in real-time. Edge networks also help in local data aggregation and data summarization that reduces costs on data storage and transfer.</p><p>Digital transformation has profoundly revolutionized the field of healthcare. With edge computing in the mix, it is easier for healthcare organizations to manage data locally as opposed to a centralized storage location. With devices on the edge, physicians will be able to gain instant access to vital medical data thereby enabling quicker diagnosis and spontaneous treatment.</p><p>Another profound instance proving the importance of edge computing in digital transformation is Kubernetes. Undeniably, Kubernetes is one of the best tools there is, that brings about digital transformation in enterprises worldwide. It has helped transform the way software is developed at scale. Consequently, it will continue to be deployed by organizations globally and will require edge computing to deliver optimized services to users across the healthcare, transportation, and retail sectors.</p><p>A major end-use depicting the significance of edge computing in digital transformation is remote working. It has become even more paramount in the last year since the COVID-19 pandemic took shape. The outbreak has placed a heavy burden on network infrastructure worldwide, however, with the implementation of edge computing, there has been a considerable change in the landscape. Companies have been able to use sensors and other tools to generate monitoring dashboards for real-time visibility. Automation firms have been able to consolidate resources in a centralized location and deploy edge resources to keep machines running smoothly.</p><h3 id="future-trends-and-scope">Future Trends and Scope</h3><p>The edge is already here. The concept is being used in most organizations to simplify data storage and management and provide better customer service. According to Gartner, <a href="https://www.gartner.com/smarterwithgartner/gartner-top-10-trends-impacting-infrastructure-operations-for-2020">over 50% of enterprise data is likely to be processed outside the cloud infrastructure</a> by 2022, and possibly around 75% by 2025.</p><p>Data volumes are expected to depict an exponential growth in the years ahead. Judging by the amount of video data generated, for example, the number of edge devices is expected to cross billions soon enough. The rising number of IoT devices such as sensors is likely to increase the requirement of edge computing. The implementation of 5G-enabled IoT use cases will also need considerably more network bandwidth and computing power.</p><p>In essence, the proliferating trends of IoT, along with the need to combine cloud and edge networks will push the edge computing industry in the years ahead. IDC estimates that the edge computing market, by 2023, is likely to be valued at USD 34 billion.</p>

Premium reporting on technology, startups, VC funding, and software from Techfastly tagged with digital transformation. Read about digital transformation.

Digital Transformation

How Will Edge Computing Enhance Digital Transformation Across Enterprises?

<p>The incorporation of the cloud has brought about a considerable transformation in data handling and storage. The cloud is essentially a huge network of remote servers worldwide connected together, operating as a single framework. These servers help run major applications, are used for data storage and management, video streaming, or delivering social media services. This consequently demands the need for a systematic approach that helps build and run applications across public, private, and hybrid clouds. This approach is referred to as ?cloud-native'.</p><p>In a nutshell, when an application is said to be ?cloud-native', it means that it is designed to be developed and managed in a cloud environment. More and more companies are using the cloud-native approach to increase app development and delivery and accordingly meet user expectations.</p><h3 id="what-is-cloud-native-security">What is Cloud-native Security?</h3><p>The advent of cloud-native technologies has replaced conventional software development models but has also ushered in the critical challenge of cloud-native security. Cloud-native application security has become vital to ensuring that application architecture remains protected. This is challenging in itself on account of the highly dynamic nature of cloud-native application architectures. Cloud apps shift through multiple cloud platforms, move between on and off-premise frameworks, and expanding and shrinking, making this task rather challenging.</p><p>To implement cloud-native security solutions, one must understand its key elements. Some of these include:</p><blockquote><ul><li>Data security</li><li>Workload security</li><li>Network security</li><li>Vulnerability management</li><li>Automated response</li><li>Inventory &amp; classification</li><li>IAM security</li><li>Compliance management<br><br></li></ul></blockquote><p>While working toward implementing cloud-native security, it is important to understand where responsibilities lie ? even more, important to know that responsibilities may be varied based on the services. Public exposure of cloud storage services, missing critical patches, accepting traffic from random sources, and compromising important accounts are problems in a cloud architecture that are relatively common.</p><p>In order to combat these issues in consistently changing digital ecosystems, it is important for enterprises to adopt an all-inclusive cloud-native security platform which incorporates threat detection capability, data analytics, artificial intelligence (AI), and automation. It is also vital to deploy the best of native cloud security tools to tackle diagnostic difficulties, lack of fixed perimeters, and similar problems.</p><h3 id="can-existing-security-approaches-work-for-cloud-native-architecture">Can Existing Security Approaches Work for Cloud-Native Architecture?<br><br></h3><p>Considerable cloud-native security controls exist to protect cloud-native architecture. This is basically a methodology that helps increase efficiency and productivity and builds better scalability with the help of cloud solutions. It is also quite highly collaborative. it helps sand off the rough edges as the finished app code is transferred into production. In order to ensure that cloud-native architecture continues to reign, several cloud-native security approaches are being used.</p><p><strong>Multilayered Security</strong></p><p>A cloud service comprises seven layers - network, OS, hardware, facility, user, middleware, and application. Using multilayered security, one can monitor each one of these layers to identify risks and eliminate them accordingly. Multiple native cloud security tools are used for this purpose, such as end-to-end encryption and cloud firewalls.</p><p><strong>Cloud-native Security Platforms</strong></p><p>This has seemingly come up as one of the most effective cloud-native security strategies in recent times. Using these platforms reduce cloud vendor lock-in and deliver visibility across ecosystems. Cloud-native security platforms also help establish tools and reminders for overburdened security teams.</p><p><strong>Shared Responsibility Models</strong></p><p>These models dictate that cloud providers themselves will be responsible for some security parameters, while customers will be responsible for others. This concept basically provides a base for all the other cloud-native security approaches.</p><p>Common cloud-native security tools include CWPP (Cloud Workload Protection Platforms) and CSPM (Cloud Security Posture Management). CSPM is a collection of security tools that helps enable risk assessment and visualization, DevOps integration, compliance monitoring, and incident response. CWPP on the other hand is a workload security protection technology and is used in hybrid data centers, where, with the help of an agent, it helps address the requirements of server workload protection. This also includes providing cloud-native container security.</p><p>Although these approaches are good enough, they are not seamless. Managing cloud-native security tools, for example, can become rather inconvenient with time. In the shared responsibility model approach, it is likely that customers may be irresponsible. According to Gartner, a minimum of 99% of cloud failures is likely to be the customer's fault, by 2025.</p><p>Lack of communication between security teams and business leaders is a major issue regarding cloud-native security. While stakeholders focus on cost, customer experience, and business needs, they neglect the infrastructure, which is observed by security leaders later on. Another problem with current security approaches is that perimeter security does not apply when the perimeter dissolves. Even certain scanner and firewall approaches lack the ability to provide adequate security that leads to the detection of false positives.</p><p>Organizations will require more efficient and powerful tools in order to deal with the issues that crop up with conventional security approaches. To that end, cloud-native security companies are coming up with unique techniques to address the inconsistencies in the existing controls. They are working to shift from traditional approaches that depend on network-based tools. Instead, they are hoping to do some pioneering work in serverless and cloud-native technologies that will enhance security efficiency at reduced costs.</p><p>One of the popular cloud-native security companies, PerimeterX Inc., is focusing on the same. It hopes to secure a serverless web application and make security smart, inexpensive, and portable. Although the perimeter dissolution issue may still persist with this one, it is a vital solution that may help introduce security into many environments.</p><h3 id="challenges-with-detecting-and-managing-vulnerabilities">Challenges with Detecting and Managing Vulnerabilities</h3><p>Despite the number of fairly good cloud-native security approaches, there persist a number of challenges in vulnerability detection and management.</p><p><strong>No fixed perimeters</strong></p><p>The lack of fixed perimeters is a major problem in detecting vulnerabilities. With cloud-native applications, security personnel can no longer establish a static firewall surrounding an application across multiple clouds that is likely to scale a million workload instances at one time and mere hundreds at another.</p><p><strong>Less IT expertise</strong></p><p>It's surprising to know that many companies still haven't migrated to the cloud due to a lack of IT expertise. The 'Cloud Adoption Practices &amp; Priorities Survey Report', by the Cloud Security Alliance claims that around 34% of companies avoid the cloud as they believe their IT managers don't have the experience to handle the demands of cloud computing and management. What's more, even enterprises that are already on the cloud have apprehensions regarding their security due to a lack of experienced personnel.</p><p><strong>Insider threats and data breaches</strong></p><p>The problem of data breaches and cyberattacks is well-known, but few companies are doing anything solid and concrete about it. Of course, there are security mechanisms to keep them at bay, but they are insufficient. Not dealing with data breaches on time leaves the business vulnerable to malicious threats and compliance risks.</p><p>Insider threats are rather commonplace as well. In fact, a research report by Intel states that insider threats may be responsible for a shocking 43% of data breaches. The public cloud environment is also a highly appealing attack surface for hackers. If not secured with the highest possible techniques, enterprises are at risk of exposing their cloud data and workload to malicious threats. Despite effective strategies, this remains a major challenge in vulnerability management in the cloud-native security ecosystem.</p><p><strong>Difficulty in diagnostics and the presence of complex environments</strong></p><p>Cloud-native application architecture can be rather complex, in the presence of which it can sometimes become rather challenging to quickly diagnose the reason for a security breach. There is a considerable lag between the threat occurrence and the time security teams take to diagnose and address the same. Complex cloud environments require specific tools to ensure seamless security and protection across private and public cloud providers and on-premise deployments - even for edge networks. However, it can get tedious at times when the cloud environment is too complex and layered, making vulnerability detection quite a challenge.</p><p><strong>DevOps and related complexities</strong></p><p>Enterprises that have adopted the DevOps ecosystem are required to deploy appropriate security controls at the beginning of the development phase. Implementing security tools later can severely cripple the organization's security mechanisms. Given that individual services can now be handled without having to disrupt other functions of the application, DevOps teams can expedite new updates and releases. However, this in itself may pose issues on account of outdated policy management processes and manual provisioning.</p><p><strong>Cloud Migration Issues</strong></p><p>Although many enterprises are eager to move to the cloud, not all of them consider doing the same in an efficient, well-planned manner. Cloud migration has to be handled very carefully, or else the business is exposed to vulnerabilities even before its operations are shifted to the cloud. Using straightforward migration strategies that involve breaking down the process into stages may help achieve the transition efficiently without pressurizing IT personnel and reduce the risk of critical errors leading to vulnerabilities.</p><p><strong>Lack of Visibility</strong></p><p>The absence of visibility and tracking is commonplace in the IaaS model, where cloud providers refrain from exposing the infrastructure layer to customers. This is, however, being extended to the PaaS and SaaS models as well, preventing customers from identifying their cloud assets.</p><p><strong>Open Source</strong></p><p>This is rather obvious. indeed, using open-source software for app development is far more vulnerable than anything. Most hackers attack the well in the Git repo and wait for developers to use the packages. Soon enough, they use an attack vector to compromise the application.</p><p><strong>Cloud Compliance</strong></p><p>Organizations have to adhere to numerous federal regulations when migrating on the cloud. There are several international mandates that have to be addressed, such as HIPAA, PCI DSS, FERPA, FISMA, etc. Although enterprises do their best to comply with all the necessary regulations, this can still be a tedious process that can leave a business vulnerable to attacks. There has to be granular-level attention paid to the technical capacity needed to adhere to these mandates.</p><p><strong>Unsecured APIs</strong></p><p>The cloud is a massive storage system with a fragmented surface attack area, and there are consequently many entry points for attacks to make their presence felt. While APIs are great, they have to be highly secured, as attackers can easily infiltrate the system by hacking into unsecured APIs.</p><h3 id="best-practices-for-cloud-native-security">Best Practices for Cloud-native Security</h3><p>In order to ensure that cloud-native security is as seamless as possible, security personnel must attempt to follow the best practices, some of which are outlined below:</p><p><ul><li>Ensure to start the security process early in the development phase - right at the container level.</li><li>Ensure consistencies while implementing security. Cloud-native security controls are not a one-time thing. They have to be periodically checked and rechecked and new policies have to be implemented to ensure that vulnerabilities haven?t been introduced.</li><li>Use as many helpful native cloud security tools and techniques. Stay updated with the latest in the industry.</li><li>Introduce multi-factor authentication and strong, zero-trust identification to ensure protection.</li><li>Educate stakeholders and liaison with DevOps stakeholders at the beginning of the security implementation cycle.</li><li>Encrypt data with top-of-the-line computing technologies and follow best security practices.</li><li>Enable threat detection for databases, IoT, and virtual machines. Integrate threat intelligence into the security platform to make faster decisions.</li><li>Enable an excellent firewall and Distributed Denial of Service (DDoS) protection.</li><li>Work to eliminate false positives during vulnerability detection. Also, prioritize vulnerabilities by risk.</li><li>Maintain transparency in shared responsibility.</li><li>Enable a cloud security solution that helps maintain the visibility of the entire ecosystem. Granular-level security strategies can be implemented level to mitigate risks.</li><li>Ensure to have a very strong password protection policy in place.</li></ul></p><h3 id="where-is-cloud-native-security-going">Where is Cloud-native Security Going?</h3><p>There are already several advanced strategies in place to make cloud-native security tight and seamless. In the future, cloud-native security is likely to be characterized by powerful API security, highly secure open source and ML, simplicity; rather, simplicity at scale, and adopting an excellent DevSecOps approach. Cloud-native security companies are making every effort to mitigate loopholes in existing security approaches and have been coming up with newer strategies to protect cloud-native architecture.</p><p>Recently, for example, cloud security solutions provider Barracuda Networks, Inc. announced the launch of a SASE platform. This cloud-native security platform is designed to help businesses reign control over data access from anywhere, anytime. It will help achieve SASE convergence by bringing together Secure Web Gateway, Secure SD-WAN, Zero Trust Network Access, and Firewall-as-a-Service from Barracuda.</p><p>Self-healing infrastructure is another doctrine that is expected to define the future of cloud-native security. Modern software teams will come to adopt Infrastructure-as-code (IaC) to enhance the security review process. In essence, IaC will help security teams to work on threat modelling and assessments even before the actual deployment, enabling DevOps teams to receive immediate feedback and troubleshoot accordingly.</p><p>This, in turn, will require a self-healing infrastructure to be in place so that problems can be autonomously identified and fixed without the interference of manual effort. This infrastructure can be realized by embedding suitable security controls in the development process to eliminate common bottlenecks and increase the efficiency of cloud-native security.</p>

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Business

Cloud-Native Security: Current Strategies, Challenges, and Best Practices

<p>Currency as a medium of monetary exchange has undergone a plethora of changes for centuries. Ranging from coins to notes and now digital money, the concept has been through quite a transformation. The latest on this radar is cryptocurrency. Although crypto has been going around for a while now, it?s only in recent times that it has become a buzzword.</p><p>A cryptocurrency, in essence, is a virtual form of currency that people use to purchase goods and services. It deploys an online ledger embedded with strong cryptography to ensure that transactions conducted online remain safe and secure. Pretty much a major part of the interest in these unregulated currencies is used for trading.</p><p><strong><em>According to popular market research firm CoinMarketCap.com, over 10,000 different cryptocurrencies are traded publicly.</em></strong></p><h2 id="cryptocurrency-%E2%80%93-an-introduction">Cryptocurrency ? An Introduction</h2><p>As mentioned, cryptocurrency is a form of digital currency ? a kind of payment that one can exchange online for goods. Many firms have issued their own currencies. These are called tokens, and they can be traded for the goods or services the company in question provides. This may sound very much like exchanging tokens for a ride at the arcade or obtaining chips for gambling operations at casinos. You have to note that you do need real, viable currency to exchange for the cryptocurrency so as to purchase the goods.</p><p>The concept functions by means of blockchain ? a decentralized, highly secured technology that records crypto transactions. A blockchain is basically a public digital ledger that records transaction information and enables a secure way for people to deal with each other, sans the interference of a third party. This list of transaction records or blocks is connected using cryptography. Data once recorded cannot be changed.</p><h2 id="why-do-cryptocurrency-prices-change">Why do cryptocurrency prices change?</h2><p>Cryptocurrency is quite volatile, and the price of coins can increase or decrease unpredictably. Enlisted below are a few plausible reasons for sudden price fluctuations:</p><h3 id="investors-locking-profits">Investors locking profits</h3><p>When the prices of coins rise for a consistent period, investors may decide to start selling them. If many of them sell at the same time and lock in their profits, the price of the coil may drop dramatically.</p><h3 id="periodic-upgrades">Periodic upgrades</h3><p>Coins undergo periodic upgrades, such as a coin burn or a crypto fork. When this happens, prices may fluctuate, as the introduction of new features or similar impacts the confidence level that affects the coin price.</p><h3 id="change-of-supply-demand">Change of Supply &amp; Demand</h3><p>This is one of the most popular reasons for price change. In layman parlance, it?s referred to as ?market manipulation?. Sometimes, when wealthy investors purchase or sell too many coins at once, there is a considerable alteration in the supply and demand dynamics. If less-priced coins are bought together, for instance, there would be a considerable change in the overall price.</p><h3 id="news">News</h3><p>Cryptocurrency-related announcements on social media or online communities can have a considerable impact on the demand for coins. The announcements may pertain to new crypto initiatives, alliances, or team members. The reception of such news by the community can have a far-reaching impact on coin prices.</p><h3 id="hacking">Hacking</h3><p>Despite blockchain being highly secure, hackers are still likely to compromise the system, which may lead to a fall in the currency.</p><h3 id="rumor-mills">Rumor Mills</h3><p>Rumors can majorly affect coin prices. Before a project team decides to make an official announcement, there are always rumors about what it entails. In consequence, people try to buy and sell based on these rumors, which may lead to the final price being either overwhelming or underwhelming.</p><h2 id="which-are-the-main-factors-that-impact-the-price-of-cryptocurrencies">Which are the main factors that impact the price of cryptocurrencies?</h2><h3 id="1-supply-demand">#1 Supply &amp; Demand</h3><p>Cryptocurrency prices are driven by how available they are. So the more it is available, the lesser its price. In contrast, the lower the supply, the higher the demand, and consequently, the higher the price.</p><p>The demand for a particular cryptocurrency depends a great deal on its popularity. Bitcoin, for example, is one of the most commonly known cryptocurrencies, yet, it has had volatile price fluctuations. In April 2021, Bitcoin hit USD 65,000 and fell rapidly in May, while in recent weeks it has picked pace and is valued at around USD 45000.</p><h3 id="2-mining-difficulties">#2 Mining Difficulties</h3><p>Miners form a crucial part of determining cryptocurrency prices as they help verify transactions and create a secure network. If a cryptocurrency depicts difficulties when mining and consequently costs miners more, it disincentivizes miners to verify transactions. If miners are not a part of the process, the cryptocurrency is viewed as having lesser value as it holds less security.</p><p>This encourages investors to set a lower price for the cryptocurrency to compensate for their loss or the increased risk. Thus, the more the mining difficulties, the lesser the demand and lower the prices.</p><h3 id="3-fiat-currency-inflation">#3 Fiat Currency Inflation</h3><p>During inflation, the valuation of fiat currency increases, and its buying power is reduced. This consequently impacts the price set for cryptocurrencies such as Bitcoin.</p><p>For instance, if the valuation of a fiat currency reduces, the price of Bitcoin is likely to soar with respect to that currency. The reason for this is that you will be able to get more of that currency with Bitcoins. Political and economic events are likely to push investors to lose their faith in fiat currency, which encourages them to turn to cryptocurrencies, further pushing up their prices.</p><h3 id="4-mass-adoption">#4 Mass Adoption</h3><p>Cryptocurrency has become a viable means of investment for many people due to the blockchain. As more and more people begin to adopt cryptocurrencies, their prices are liable to be set at a higher figure. Increasing public interest leads to higher demand, raising the price of crypto coins.</p><p>As long as cryptocurrency applications are subject to a suitable scaling of some sort, people are liable to depict consistent interest. As the application of crypto coins and recognition of the same becomes more commonplace, not to mention, the ease in the regulatory scenario, it will open up new streams of investments, triggering the public to adopt cryptocurrency and consequently raising its value.</p><h3 id="5-scams">#5 Scams</h3><p>Cyberattacks and scams cause massive changes in cryptocurrency prices. Sometimes, even the team supporting a cryptocurrency may act as the scamming party ? the latter increases the price to get more people to invest; once they do, the scammers reduce the prices. These types of scams make this market even more volatile.</p><p>When a new coin is subjected to scandal, it can be potentially derailing for the crypto exchange. As soon as it is known to be a scam, a kind of domino effect can occur; that is to say, its price quickly comes down ? faster than ever in fact, as traders want to take home the profits they have already made. This kind of event does not just impact one cryptocurrency, but many like it. For example, a reduction in the value of Bitcoin can impact the entire cryptocurrency market.</p><h3 id="6-news-related-to-the-market">#6 News Related to the Market</h3><p>News can severely impact cryptocurrency prices. How one reports a piece of news majorly affects investors, who then decide to either pour in their coffers or withdraw from the race, depending on the news. Say for instance, if the media reports news about a crypto exchange scam, investors are likely to pull off their money from the exchange real quick. On the other hand, if the news pertains to a coin?s rising adoption, prices will see a major increase.</p><p>The impact of media frenzy and how it affects cryptocurrency prices is evident from several real-life instances. Take the instance of the ICO ban by China in September 2017. There was so much panic regarding the situation that the price of bitcoin fell from USD 5000 to USD 3000. In yet another instance, in early 2018, the price of bitcoins and altcoins fell further, due to the hostility in the exchanges between South Korean and Chinese authorities. On the other hand, NEO observed a rise due to the impact of positive coverage in China.</p><h3 id="7-coin-utility">#7 Coin Utility</h3><p>The usefulness of a coin is a major factor impacting cryptocurrency prices. Digital coins that have no practical use are seen as devalued currency. That?s why it?s vital to use the coins to buy something in the exchange. If utility is zero, the price of that coin will witness subsequent ramifications.</p><p>With regards to usefulness, another point to be taken into consideration is the extent of utility. There are, after all, numerous cryptocurrencies in the market today; many of them have very little value, solely for the reason that they are not unique; they do not bring anything different to the public. A significant number of them are merely duplicates of the popular bitcoin. The lack of a unique utility consequently reduces the market value of the cryptocurrency and its price deteriorates rapidly.</p><h3 id="8-fear-factor">#8 Fear factor</h3><p>Manipulating the public through fear is a clever tactic to impact prices. Major market leaders leverage FUD (fear, uncertainty, and doubt) and FOMO (fear of missed opportunity) to control price rates. Ambiguity and fear usually lead to cryptocurrency prices skyrocketing. By leveraging the fear factor in the public, wealthy investors are able to swing the prices of cryptocurrencies. This forms the mood of the majority, which is able to encourage people to buy or sell their assets impulsively.</p><p>In the case of cryptocurrency, the fear factor can impact rather quickly, since the field is quite new to many people. With time, public sentiment may begin to have less of an impact as the market matures. However, presently, cryptocurrency prices have a huge chance of fluctuating due to the fear and uncertainly ingrained among the masses.</p><h3 id="9-economic-parameters">#9 Economic parameters</h3><p>Economic factors such as devaluation and inflation have a massive impact on fiat currency, leading to shaky financial stability worldwide. This leads to people looking for alternative investment methods, involving cryptocurrencies.</p><p>Although cryptocurrencies are popular, they are still not a centralized or non-volatile mode of monetary transactions. This makes it difficult to be considered as a reliable means in the economic system.</p><p>Unlike conventional financing, cryptocurrencies are not conservative in the way they function. For years, the conventional fiat system has remained the same in its approach ? restrictions in conditions, centralized management, issues in micro-transactions, etc. Although the advent of new technologies can simplify certain internal structures, the basic principles still remain the same. Unlike the traditional approach though, cryptocurrencies have the ability to transform the economic system.</p><h3 id="10-security-problems-and-bankruptcy">#10 Security problems and bankruptcy</h3><p>Although blockchain helps secure crypto transactions, security problems still persist and can be one of the major factors influencing cryptocurrency prices. Closure of crypto exchanges and system breakdowns on wallet platforms may lead to holders losing millions of funds, leading to a market collapse.</p><p>Even if such events occur with a single exchange, they trigger off a chain reaction that can disrupt the entire market. The cryptocurrency industry runs across numerous exchanges, platforms, and wallets. A violation in code or operations even in any one of the systems may lead to a slight disturbance in the overall ecosystem.</p><h3 id="11-technological-progress">#11 Technological progress</h3><p>Increasing technological progress may have a mixed consequence on cryptocurrency prices.</p><p>The introduction of new platforms and the requirement for anonymous, faster, and secure transactions may cause crypto prices to rise significantly. Not only will technological advancements make it easier and faster for users, but will make the business more transparent and efficient as well.</p><p>However, technological improvements may have a negative impact on crypto prices, depending on the existing market situation. As technologies pertaining to cryptocurrency become more developed and sophisticated, hacking methodologies are also on the rise, leading to more and more adverse events.</p><h3 id="12-speculation">#12 Speculation</h3><p>Speculation can either pull up the price of a product or destroy it completely. This is more of a may-or-may-not happen situation. Speculation can cause wealthy investors to invest millions and sell off instantly, raising the overall coin price or deflating it, leading to a huge imbalance.</p><p>As per observation, cryptocurrencies having small trading volumes are subject to speculation the most. A lot of speculative investors hope to make money out of cryptocurrencies, and may accordingly buy and sell quickly, causing a profound impact on the market.</p><h3 id="13-internal-competition">#13 Internal Competition</h3><p>There are plenty of new entrants in the cryptocurrency market. The advent of new, advanced technologies in the market usually impacts the demand for older ones. So far, bitcoin has been a leader in the industry. However, it does have a rigid protocol and if that is not dealt with sooner or later, the network may reach a critical point. This will lead to individual cryptocurrencies taking center stage.</p><p>Say, for instance, there are already many alternatives to Ethereum that not only provide solid platforms for blockchain projects but also provide scaling opportunities. The more these appear by the day, the more internal competition there will be, leading to massively fluctuating prices.</p><h3 id="14-regulation">#14 Regulation</h3><p>The presence of a stringent regulatory spectrum and its changing norms majorly impact cryptocurrency prices. Changes in regulation and corresponding announcements can raise or reduce crypto valuations.  For example, in April 2017, Japan announced the legalization of bitcoin which led to a 3% rise in the bitcoin value in a day, hitting USD 1,130.</p><p>The change in a political regulatory framework can deliver a crushing blow to the cryptocurrency market. Say, for instance, the ban on crypto mining in China. Ideally, the mining sector in this country has a huge share in the total number of pools. This means that quite an amount of capital is concentrated here, but due to the restrictions in regulations, this has led to considerable market imbalance and stagnancy in the regional cryptocurrency industry.</p><h2 id="how-do-changing-crypto-prices-impact-the-global-market">How do changing crypto prices impact the global market?</h2><p>Cryptocurrencies have a global appeal. Although they are more commonly used in the U.S. and certain other developed nations, they are slowly cropping up to be a vital investment avenue across other countries worldwide as well. Fluctuating cryptocurrency prices will thus impact the investment portfolio of all the people buying crypto coins. At the end of the day, there is a dependency on fiat currency to buy crypto coins, and fluctuations in global economic stability will impact the cryptocurrency market as well, which in turn will affect conservative investment methods, creating a never-ending vicious cycle.</p><p>Despite their popularity, the response to cryptocurrency as a payment medium has been a little less than cold. Some organizations worldwide are supportive; the majority, however, including central banks, treads on eggshells around cryptocurrency, given the extremely volatile nature of the market. There have also been issues with tax evasion and similar problems that have led to concern regarding their mainstream adoption. Experts opine that changes in cryptocurrency prices may have a massive effect on the wider market, like how mortgage-backed securities lead to an economic downturn.</p>

14 Vital Factors that Impact Cryptocurrency Prices

<p>The terminology ?mHealth? has been a buzzword for some time now. Referred to the practice of using mobile devices in the medical field, mHealth has lately emerged as a major sub-segment of eHealth. It is a broad term and is inclusive of tools such as FitBit trackers, telemedicine applications, and remote patient monitoring sensors. mHealth has proved to be exceptionally helpful for physicians, given that it reduced patient trips to the ER by allowing healthcare providers to monitor patients through these latest advancements.</p><h2 id="why-is-mhealth-bringing-about-a-revolution-in-medical-care">Why is mHealth bringing about a revolution in medical care?</h2><p>mHealth offers a multitude of benefits that is rapidly changing the perception of medical care. There has already been a considerable spate of advancements in healthcare, paving the path for the use of smart phones and similar technological tools. Amid a rapidly aging population and the demand for sophisticated health tools, mHealth is gaining prominence as a groundbreaking technology.</p><p>Mobile health offers innumerable capabilities with varied apps, sensors, devices, and software programs that help to maintain electronic records, ensure patient data capture, target chronic conditions, telemedicine and remote monitoring, as well as e-prescriptions. Digital monitoring via mobile applications makes it easier for patients and physicians to engage with each other. MHealth devices help doctors monitor patients without the necessity for them to come in for visits. Wearables and similar devices allow patients to monitor their own health as well. </p><p>Some of the generic advantages of mHealth devices are summarized below:</p><h3 id="improves-doctor-efficiency">Improves doctor efficiency</h3><p>Mobile devices help physicians record patient data very easily, with minimal errors. This means they will have consistent access to patient information that?ll make it easier to diagnose new/existing conditions, prescribe medication, and treat them accordingly.</p><h3 id="enables-convenient-data-flow">Enables convenient data flow</h3><p>Data misplacement will be a long-forgotten problem with mhealth as healthcare service providers will have complete control over patient data. mHealth replaces traditional modes of data storage such as files and folders. Although cyberattacks remain a concern, with proper security protocols in place, mHealth interoperability can commendably improve healthcare service as well as patient satisfaction.</p><h3 id="increases-diagnostic-accuracy">Increases Diagnostic Accuracy</h3><p>With smart devices and software, doctors and nurses can be harness accurate information without errors. Automation helps mhealth devices run periodic checks on prescriptions and decisions without manual interference. This has consequently reduced prescription-based errors in healthcare. Mobile devices have also been able to recognize the causes and symptoms of infectious diseases faster than earlier.</p><h3 id="can-be-customized">Can be customized</h3><p>Mobile devices have majorly eliminated geographical boundaries. If one cannot find a suitable doctor within their area, they can enlist the help of mHealth apps and simplify the communication processes between patients and physicians. MHealth is also enabling better patient-doctor relationships and sharing consulting services. Doctors from various corners of the world can now communicate seamlessly with patients, and give them solutions to their problems without travelling hassles.</p><h2 id="important-statistics-proving-the-massive-adoption-of-mhealth">Important statistics proving the massive adoption of mHealth:</h2><p>? According to HIMSS, over 50% of smartphone users use these devices to gather information pertaining to health, online.</p><p>? An article by Mobihealthnews says that 71% of patients feel it would be helpful if their physician had access to their health data</p><p>? Fortune Business Insights claims that in 2018, the global mHealth market size was valued at USD 34.28 billion. The revenue may cross USD 293.29 billion by 2026, at an anticipated CAGR of 29.1% over the projected duration.</p><p>? According to Pew Research, 68% of Americans owned a tablet and nine out of 10 people owned a smartphone in 2015. That number has considerably increased as on today.</p><p>? GWI states that almost 48% of digital consumers prefer having the latest technological products in hand.</p><p>? Health IT Outcomes states that the global mHealth revenue will hit USD 49.12 billion by 2020.</p><p>? It also claims that in a survey, around 40% of physicians believe that mHealth applications could significantly cut down physical visits to the clinic.</p><p>? As per Skycure, 80% of surveyed physicians deploy their mobile phones to help in their day-to-day practice.</p><h2 id="latest-advancements-in-the-mhealth-industry">Latest advancements in the mHealth industry:</h2><p>Teams from the University of North Carolina and the Stanford University <a href="https://mhealthintelligence.com/news/researchers-develop-an-mhealth-wearable-that-can-deliver-vaccines">have recently developed a mHealth wearable</a> ? a 3D-printed vaccine patch that will mitigate the requirement for needles. However, it works 10 to 50 times better than the existing delivery method.</p><p><a href="https://mhealthintelligence.com/news/biogen-joins-uclas-mhealth-project-to-gather-cognitive-data-from-devices">UCLA, Apple, and Biogen have recently joined hands for a program</a>, which tracks data from mHealth devices such as smartphones and smartwatches so as to identify early signs of cognitive decline.</p><p><a href="https://mhealthintelligence.com/news/mount-sinai-launches-new-mhealth-app-for-patient-data-access">The Mount Sinai Health System has recently introduced a new mHealth app</a> with an aim to better patient-provider communication, create a centralized platform for patient requirements, and improve patient data access. Mount Sinai?s existing portal will transfer to the new app, thereby enabling patients to book appointments, pay bills, request for prescription refills, have consistent access to health records and lab results, and attend video visits with their healthcare providers.</p><p>In April 2021, <a href="https://mhealthintelligence.com/news/uw-researchers-develop-an-mhealth-tool-that-tracks-vital-signs-with-a-camera">the University of Washington and Microsoft developed a mHealth platform</a> that can record vital signs using the smartphone or laptop camera. The technology used here analyzes the video of a user?s face and deploys AI to translate the light reflected off the skin into pulse and respiration rate. Something of this caliber could help medical providers during a remote patient monitoring program or similar situation.</p><h2 id="commonly-used-mhealth-apps">Commonly-used mHealth apps:</h2><h3 id="medscape">Medscape</h3><p>Medscape is an online app filled with numerous medical articles, snippets from medical journals, latest healthcare news, MEDLINE database, and information on drugs. It is targeted to help physicians and professionals in the medical field. This mHealth app also helps patients to be well-prepared for any unexpected situation.</p><h3 id="drawmd">DrawMD</h3><p>DrawMD is more of an initiative to enhance medical education and awareness among patients using visuals, application-oriented samples, typing, etc. It focuses on explaining medical conditions, procedures, and the human body to the layman. It is also inclusive of treatment plans and medicines that helps patients understand the medical world with illustrated visuals.</p><h3 id="doctor-on-demand">Doctor on Demand</h3><p>The Doctor on Demand mHealth app has simplified the communication lines between doctors and patients. One has to get an appointment and meet the doctor to explain their medical condition. The doctors present on the app are qualified enough to prescribe medications. The app basically aims to offer an array of medical services to patients. It also includes urgent care issues, prompt medical advice, screening, lab tests, preventive medicine, and prescriptions.</p><h3 id="medici">Medici</h3><p>Medici enables convenient communication among doctors and patients. It offers text and video chats when patients want a consultation with the doctor. It also helps patients liaison with their preferred doctors instead of online hospitals ? this makes it a trusted app as patients can interact with a medical practioner that they know and trust.</p><h3 id="memd">MeMD</h3><p>MeMD is one of the best platforms that enable you to get in touch with physicians, physician assistants, nurses, and other medical personnel. It offers medical consultations and prescriptions for patients. It also offers help to locate pharmacies nearby, 24/7 access, and video consultations.</p><h3 id="pingmd">PingMD</h3><p>It is one of the most well-known mHealth apps that make it easy for patients to get in touch with their physicians. It does not include a video consultation, but a platform that where patients can explain their problems to doctors. The platform offers complete privacy. The medical information provided is 100% secure and there are no chances of data breach. Not just patients, but even doctors can get in touch with their colleagues simultaneously while at the same time while discussing the case with patients.</p><h2 id="a-quick-summary-of-the-advantages-delivered-by-mheath-adoption">A quick summary of the advantages delivered by mHeath adoption:</h2><p>? Simple, intuitive experience</p><p>? Easy way to communicate with service providers</p><p>? Flexibility in working hours (for healthcare professionals)</p><p>? Flexible scheduling</p><p>? Convenience to stay connected with other medical personnel</p><p>? Ability to have instant access to patient information</p><p>? Easy way to coordinate with patients for follow-ups</p><p>? Enabling remote patient monitoring</p><p>? Deploying voice-enabled technology for communication</p><p>In a nutshell, it would be fair to conclude that mHealth has a major role in transforming the future of healthcare. As more and more doctors and patients begin to use mHealth apps and companies and major establishments come up with sophisticated mHealth devices and research programs, mobile health technologies will bring about a revolution in the field of medicine in the years ahead.</p>

Premium reporting on technology, startups, VC funding, and software from Techfastly tagged with Healthcare. Read about trends and strategies for Healthcare.

Healthcare

How is MHealth Transforming Medical Care?

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