This article has been contributed by Mr. Sanil Basutkar, Co-Founder, Healthysure.
The insurance sector, a vital part of our global economy, is on the cusp of a monumental transformation. This disruption is primarily driven by the advent of artificial intelligence (AI) and the increasing abundance of data. These technological advancements pave the way for insurers to enhance their offerings, streamline operations, and deliver exceptional customer service.
AI’s transformative potential is particularly striking in the health insurance industry. Harnessing the power of AI to analyze vast amounts of data allows insurers to gain a comprehensive understanding of their customers’ risks and needs. This deep insight fuels the development of more personalized, affordable health insurance plans.
For instance, AI facilitates accurate predictions about the likelihood of a customer developing chronic conditions like diabetes or heart disease. This predictive capability can then enable insurers to offer preventive care services or adjust insurance premiums to reflect the customer’s individual risk profile.
The financial implications of AI adoption are staggering. The global AI in the insurance market is projected to skyrocket from $2.7 billion in 2021 to an impressive $45.7 billion by 2031.
AI’s Role in Fraud Prevention and Claims Processing
AI can also play a critical role in identifying customers prone to fraudulent activities. By analyzing data from diverse sources like claim histories and social media, AI can identify suspicious patterns, thus mitigating potential fraud and shielding insurers from financial losses.
Several insurance companies have already embraced AI to combat fraud. Take the case of Lemonade, a startup using AI to automate the claims process and customize insurance policies. By leveraging AI, Lemonade has achieved a remarkable 30% reduction in fraud.
Another key application of AI in insurance lies in automating claims processing. AI’s ability to process claims swiftly and accurately liberates human employees to tackle more complex tasks, resulting in faster customer service and cost reductions. Startup Hippo is a prime example, using AI to process claims in minutes, thereby slashing processing times by an impressive 90%.
Enhancing Customer Service With AI
Beyond these applications, AI can dramatically improve insurers’ customer service. AI-powered chatbots can offer round-the-clock support, promptly resolving issues and answering customer queries. This use of AI can significantly boost customer satisfaction and loyalty.
Pioneering Applications of AI in Insurance
Several pioneering applications of AI in the insurance sector are reshaping the industry landscape:
Usage-Based Insurance (UBI): UBI leverages AI to monitor and analyze a customer’s driving habits, impacting their insurance premiums. This data-driven approach can result in lower premiums for safe drivers and higher premiums for risky ones.
Telematics: AI-powered telematics monitors a customer’s vehicle to assess their driving habits and accident risks, enabling insurers to offer premium discounts.
Robotic Process Automation (RPA): RPA employs AI to automate repetitive tasks like claims processing and underwriting policies, freeing human resources for more complex tasks and reducing costs.
Machine Learning: Machine learning utilizes AI to analyze data, identifying patterns and trends that help insurers make informed decisions. For instance, it can be used to identify customers likely to cancel their policies and target them with retention offers.
Natural Language Processing (NLP): NLP uses AI to interpret human language, enhancing customer service by allowing insurers to better understand customer queries and deliver personalized responses.
These examples represent just a fraction of AI’s current applications in the insurance sector. As AI continues to evolve, we can anticipate even more innovations.
The Impact of AI on the Insurance Industry
The influence of AI on the insurance industry is already palpable. In recent years, we’ve seen a surge of startups, like Lemonade, utilizing AI to disrupt traditional industry models. These companies automate the claims process and deliver personalized insurance policies, signaling a significant shift in how the industry operates.
Even established insurance companies are beginning to embrace AI. Progressive, for instance, is deploying AI to create new products and services, such as usage-based insurance.
The influence of AI on the insurance industry will undoubtedly amplify in the coming years. As AI technology continues to mature, it will catalyze even more innovation in the industry. The benefits will be manifold, from operational efficiency and effectiveness to enhanced customer-centricity in product and service offerings.
Conclusion: A Bright Future for Insurance
The future of the insurance industry is undoubtedly bright. AI technology is poised to fundamentally transform the sector, making it more efficient, effective, and customer-centric. As we look to the future, the continued evolution of AI promises to drive unprecedented innovation in the insurance industry.
With these changes on the horizon, insurance companies, whether startups or established, must proactively embrace AI and data analysis. Doing so will not only ensure their competitiveness but also enhance their ability to deliver superior, personalized service to their customers, marking a new era in the insurance industry.
Does your business need help to offer cost-effective customer support? If yes, working with an outsourced call center is an ideal solution. Call centers offer a wide range of services that help optimize your company’s operations. Some of these services include technical support, help desk support, telemarketing, and human resources, to name a few.
But to enjoy the perks of outsourcing customer support, you need to choose the right call center. Remember, customer support is a delicate matter best handled by a professional. Look no further if you need help figuring out where to start in your hunt for the right call center provider. Below is a look at the tips to consider when looking for the right call center provider.
1. Specific Needs
You need to first know your needs before hiring a call center provider, such as Oracle Customer Management Solutions. Remember, no two companies are the same, so the reasons for hiring an outsourced call center differ. For example, smaller businesses have different needs than bigger companies.
So knowing your needs is crucial. Below are some of the common reasons businesses outsource their customer support:
Having online chat representatives
Providing 24-hour service
Answering emails
Scheduling appointments
Offering outbound or inbound services
Once you narrow down your needs, choosing the outsourced call center to hire will be easier. And while call centers seem the same, you must remember that they provide different services. A good example is that some call centers only handle incoming calls from your clients. In contrast, others only operate via phone, online chat live, or email, while others provide outbound services such as cold calling.
The outsourced call center you choose also needs to satisfy the needs of your business. For example, a call center with 500 employees is a great fit if you run a mid-size to big company. In contrast, an outsourced call center that’s only hired 50 agents is more than enough if you operate a startup. A call center with a workforce that matches the size of your company can help ensure smooth operations and effective customer service delivery. By outsourcing to a specialized call center team that can handle a high volume of calls and inquiries more efficiently, your business can reduce expenses on customer support while ensuring your customers receive personalized attention.
2. Experience
Excellent customer service is vital for your brand’s continued success. For this reason, the call center service provider you choose needs to have personable and qualified agents. There are several ways you can gauge the expertise and experience of a call center, including the following:
Examine the call center’s training, hiring, and attrition processes.
Check whether the call center runs trials to see how well the agents can deal with different situations.
A call center that observes such practices will land the industry’s best agents. These qualified customer service agents know how to handle your customers’ needs best. Doing so helps enhance the customer experience, further enhancing your brand’s image. It then translates to greater revenue for your company.
3. Security Provisions
Cybercrimes are ever more rampant today. So when searching for a call center, choose one with appropriate measures to secure their networks and computer systems. By doing this, you can be sure that your startup and customer data remain safe. A few things to check out to gauge the call center’s data security preparedness include the following:
Check if they have a system redundancy and disaster recovery plan.
Find out if the call center has any certifications showing proof of compliance with the regulatory security standards.
Examine the call center systems to see that they’re maintained and updated.
See if the outsourced call center offers redundant computing and network communication services. Check this out for both the exterior and interior resources.
Find out whether the call center provider tests the internal network against penetration tests.
Ask if the company has experienced a security data breach before and how they handled it.
Find out where the client data gets stored.
Understanding these security measures will help you with the success of your business, depending on whether your customers are happy. You can best guarantee this with the right call center provider that addresses your clients’ issues in real time.
4. Cost
Generating profit is one of the core goals of any business. Therefore, you need to consider cost when looking for a call center. You can start by taking the time to contact different call centers and get quotations on how much they charge for their services. Because you want to get the most out of your money, there are a few questions you need to ask to land the ideal call center, including the following:
What’s the call volume they can handle?
How do they select customer service providers?
Do they provide their services 24 hours a day or during specific periods during the day?
Do they charge an additional fee for CRM integration?
Are they available 365 days a year?
What are the average hold and waiting times for customers?
The answer to these questions will guide you in choosing the ideal call center. Doing so gives you a better chance of getting a call center that offers outstanding services for a reasonable price. That said, it’s good not to go for the cheapest call center you find. Otherwise, you might lose customers, causing greater harm to your business.
5. Scalability
You want to partner with an outsourced call center that offers continued support even while you’re expanding. Thus, the call center you choose should be able to offer this to you. A few things to find out from the call center when it comes to scalability are the following:
Can they scale up and down with you when necessary?
How fast can they affect staffing plans and procedural updates to meet your growing business needs?
Can they handle calls from other countries?
Answering such questions will help you determine if a particular call center is the right pick.
Conclusion
The success of your business depends on whether your customers are happy. You can best guarantee this with the right call center provider that addresses your clients’ issues in real time.
But deciding on the most suitable call center provider can be a hard decision to make. This guide outlines useful tips to help you in the decision-making process. After that, you can offer improved customer service, which clients expect to win their loyalty.
All-in-one workspaces combine various task management, note-taking, project planning, calendar, reminders, and communication tools that allow users to manage their work and personal life in one location.
Staying organized, productive, and focused using one platform is much easier than switching between different apps, saving time and cognitive resources for more important tasks.
How much time an average team spends tracking tasks and checking whether every team member is on the same page?
The answer depends on several factors, including the size of the team, the project’s complexity, the level of communication required, and the tools used to manage the project.
An idea usually overcomes a long way before it becomes an action. It might never happen if something went wrong. xTiles ensures that the path is free of obstacles by combining visual management, organizational, and collaborative features, such as visual displays, task tracking, a convenient and quick system for task assignment, etc.
xTiles is an all-in-one workspace that allows users to turn their ideas into action by having all the tools they need in one place, which may help streamline their workflow, reduce the risk of miscommunication or forgotten tasks, and ultimately improve productivity and outcomes.
Every team is unique, which is determined by many factors such as their field of expertise, the number of team members, their approach to managing projects, etc. That’s especially true when it comes to creative teams.
That’s why putting everyone in the same conditions doesn’t resolve the problem of accurate and effective project organization. Only some will benefit.
Flexibility and adaptability are key objectives of xTiles. The service is built to be suitable for a wide range of teams due to its customization options.
Steps of Turning an Idea Into an Action Plan
Let’s go through the main steps of turning an idea into an action plan with xTiles.
Action Plan
Research is crucial to developing a concept for a future project that will interest the potential audience and ensuring the team can implement it with the available resources.
Research may be deliberate and spontaneous. If the first one is totally under the control of the person conducting it, the second is harder to control, especially if you have no relevant tools. In this case, valuable data or references might get lost.
xTiles users benefit from using the Web Clipper, an extension that allows them to save and send straight to their Quick Notes all the pieces of information they consider important. Additionally, xTiles mobile and desktop applications are synced, so users’ on-the-run notes also end up in Quick Notes.
Additionally, the mobile version enables managing projects effectively on the run using only their smartphone or tablet.
Brainstorming sometimes precedes research. However, an efficient brainstorming session without previous preparation might not be fruitful.
Brainstorming Ideas
The service offers a ready-to-use Brainstorming template that helps conduct the session without missing any good points. xTiles workspaces allow users to combine elements, collaborate, organize, and create layouts quickly via numerous features like drag-and-drop, tags, customization, etc.
Small and big teams, novices, and tough players may use the template as a guide on how not to get lost in a pile of crazy ideas that only seem attractive.
Planning is a summary of brainstorming sessions and research. It also tests ideas whether they are realistic to save the team from disappointment later when a certain amount of time and resources were invested.
Project arrangements may suffer losses if an approach to planning is inconsistent. Many teams do it on the run or improvise their further actions, which might be quite destructive if the team is big.
Project Arrangements
The bigger the project, the more tasks there will be. Keeping them in one place and in order may sometimes be challenging for project managers. By offering an easy and adjustable workspace and a range of ready-to-use templates for planning, xTiles helps teams make meticulous planning the most natural part of their workflow.
xTiles helps teams to gather tasks all over their documents and workspaces so that every assignee has a checkbox list of their tasks handy.
Teams need to showcase their ideas in the best possible way to engage potential investors or convince companies to give them a try.
Even the best idea might seem unattainable and unattractive without a cohesive business model or company one-pager. Details often define the whole concept.
xTiles offers many pre-designed templates, from Company One-Pager to Lean Canvas Models, to save time for action.
Visual project management is a valuable tool for professionals across various fields who rely on creativity and organization to achieve exceptional outcomes and personal fulfillment in their work.
xTiles can automate task tracking, provide real-time progress updates, and enable team members to collaborate more effectively within one visual project.
India is a global leader in the number of startups, with many talented entrepreneurs taking the plunge to bring their ideas to life. Despite the inherent risks, startups in India have a promising future thanks to the creative techniques and unique business models devised by the country’s youth.
Bootstrapping, which involves starting a business with one’s own finances without external funding, is a popular approach among Indian entrepreneurs. This independent method has paved the way for numerous successful bootstrapped startups in India, some of which have been thriving for over 25 years. These startups span various sectors, including food, software, dating, and shopping, and have honed their strategies to cater perfectly to Indian households.
Overall, the future looks bright for bootstrapped startups in India as they continue to innovate and meet the needs of the country’s dynamic market. Join us on this exploration of India’s top bootstrapped startups, where we will showcase their inspiring stories, shed light on their remarkable achievements, and delve into the secrets of their success.
Most successful Indian Bootstrapped Startups
Top Bootstrapped Startups In India
Here are some of the most successful bootstrapped startups in India.
FusionChart – Successful Bootstrapped Startups in India
It is a startup with offices in places such as Bangalore and Kolkata. It is a one hundred percent bootstrapped startup and was started in 2003. It helps to chart several pieces of information together. It uses various software such as Javascript, SVG, and VML and can create compact, interactive, and easily understood charts.
Pallav Nadhani started it. It has spread in over one hundred eighteen countries and is used mainly in the United States, Korea, and Europe. It has over ten million users. It has expanded many times its original size and has been recognized widely. Its staff has also been increased up to two hundred and fifty times and its revenue.
Nadhani worked alone developing the product, its website, sales, marketing, and customer support for the first three years. Also, she independently set up the whole company, and the company used up the money it made in expanding its area of business. These apps are mainly used because of their ease and effectiveness in depicting ideas in charts.
Online productivity tools and business software solutions
Founders
Sridhar Vembu, Tony G. Thomas, Sreenivas Kanumuru
Founded
1996
Zoho – Successful Bootstrapped Startups in India
It is a company that makes business tools based on the web. It offers a range of software that office workers need. It was founded as early as 1996. In its previous stage, it was also known by the name AdventNet. It is privately owned. There are over fifty applications that are a part of the software set provided by it. It helps in conducting office functions with ease.
Sridhar Vembu founded it along with Tony Thomas. Zoho was founded in the year 1996 and has now spread over the globe. Its headquarters is in Chennai, which is in India. Its total assets include five hundred seventy million US dollars. It has many employees, which is more than ten thousand people working under it. It has a total of twelve offices worldwide.
It is a bootstrapped startup as it first started with the two brothers who set up this company with the help of Tony Thomas. Sridhar agreed to do the sales himself and printed cards for business. After getting many contracts, they started focusing their attention on making new products. After the year nineteen ninety-eight, when the sales of this company crossed the one million mark, they started getting paid and hiring people t work for them.
ZOHO the bootstrapped company (Zoho Case study )
42Gears
Company Name
42Gears
Website
www.42gears.com
Headquarters
Banglore
Deals In
Enterprise mobility management (EMM) solutions
Founders
Onkar Singh
Founded
2009
42Gears – Bootstrapped Startup in India
42 Gears provide a set of software tools that are a single management system used in mobiles, personal computers, and other devices. It also helps in other functions such as securing the phone, creating content, collaborating, etc. It also has a private mobile testing app that goes by the name Astrofarm. It helps in mobile security, management, EMM, BYOD, MDM, etc.
It was founded in 2009 by Onkar Singh and Prakash Gupta. It has over eighteen thousand customers and has spread across one hundred fifteen different countries across the globe. It has been successfully used in more than five million devices and has one hundred thirty partners worldwide. It is still privately owned and gaining popularity with social media advertising.
It is bootstrapped as Onkar and Prakash set up this company on their own. They decided to risk it, as they were sure that they would be stable once the economy had recovered. His thirteen years of experience in the software field helped them create proper tools that would be helpful to people. Also, the company flourished after they made a profit on their own.
Online retail stockbroking and investment services
Founders
Nithin Kamath, Nikhil Kamath
Founded
2010
Zerodha – bootstrap company in India
It is a platform that deals explicitly with electronic trading and provides financial services. Its products include kites, coins, and consoles, and it offers services for trading with commodities, mutual funds, government funds, bonds, equity, etc. It reached its peak in the year 2020. The name comes from the words Zero and Rodha combined.
Nithin Kamath founded this Zerodha in the year 2010. Its headquarters is in Bangalore. Its income is ₹4,042 crores. And at present, it has over one thousand one hundred people working under it. About five million people are using it now, and it has become the largest retail stockbroker in India, with almost fifteen percent of stocks from the market at its name.
It is a bootstrapped startup as, In June two thousand twenty, Zerodha attained a self-assessed valuation of over one billion USD. The money that was used to set up the company was their own. In the year two thousand fifteen, Zerodha won the Bootstrap Champ trophy. They have to rely totally on their salaries for their company’s growth.
Freshworks is a global software company that provides customer engagement software solutions to businesses. Their suite of products includes helpdesk software, CRM, marketing automation, and more, helping organizations streamline customer support, sales, and marketing processes for improved customer experiences and business growth. Furthermore, Freshworks has expanded its product portfolio to include Freshservice (IT service management software), Freshchat (live chat software), Freshcaller (cloud-based call center software), and more.
It was founded by Girish Mathrubootham and Shan Krishnasamy in 2010, with the aim of offering a cloud-based customer support software solution. Freshworks started as a bootstrapped company in India and now has gained recognition and a loyal customer base worldwide.
GrabOn
Company Name
GrabOn
Website
www.grabon.in
Headquarters
Hyderabad
Deals In
Online coupon codes, deals, and discounts for online shopping sites in India
Founders
Ashok Reddy, Bhanu Raj
Founded
2013
GrabOn – Indian bootstrapped startup
GrabOn is probably the first company that comes to our mind when we think about the bootstrapped business of India. Founded by Ashok Reddy in 2013, it is the largest and leading affiliate e-commerce brand in the country. With its wide range of coupons and deals on various renowned brands, it has truly made the shopping experience for online shoppers easy and affordable.
GrabOn ensures that its deals and coupons are regularly updated and verified to maintain their authenticity and usability. Users can explore deals based on specific categories or search for deals from their preferred online stores. The platform also provides a seamless user experience with features like deal alerts, personalized recommendations, and user reviews.
HappyFox, founded in 2011 by Shalin Jain, started as a bootstrap company, relying on its internal resources and self-funding to establish its customer support and helpdesk software solutions. As a bootstrap company, HappyFox demonstrated remarkable determination, resilience, and a commitment to building a successful business without relying on external investments.
It is a help desk and customer support software solution company. Over the years, the company has grown by leaps and bounds, becoming the best ticketing software for modern IT teams. Trusted and used by several fortune 500 brands, the company offers mind-blowing customer support all the time. Moreover, the company has also expanded its business and has its presence in California. So, if you are looking for a smart help desk software, happyFox is all you need!
QuackQuack is an Indian online dating platform founded in 2010 by Ravi Mittal. It is headquartered in Hyderabad, India. It is known to have been a bootstrap company during its early stages. QuackQuack is designed to connect singles and facilitate meaningful relationships, friendships, and matchmaking.
With more than 4 million users, over 800k downloads, the company has seen 2.05 million matches. Going forward, the company is planning to start an in-app video chat feature using which strangers can have a video call if they want to. The company is also planning to launch its app in nearly 10 international languages.
Thinkpot, successful bootstrapped startups in India
Thinkpot is another successful bootstrapped company which is doing just fabulous work in creating and offering inspirational and motivational products. It is a leading merchandise brand in India which has gained huge fame due to its incredible range of products. Established in 2014 by Sumit and Ritesh, the company today deals in more than 1000 exemplary products. From stationary to bags and pouches, from drinkware to palo healthcare, you can find a vast collection of products at an affordable price. All the products of the company and designed to meet the trendy taste and preferences of today’s generation. They are made using unique technology and are sure to be of supreme quality.
Kayako, a customer service software company, initially started as a bootstrap company. Founded in 2001 by Varun Shoor and Vikas Bhagat, Kayako focused on developing innovative solutions to help businesses improve their customer support processes. Kayako’s bootstrapping journey involved careful financial management, strategic planning, and a focus on delivering value to its customers. By staying lean and agile, the company could adapt quickly to market demands, invest in product enhancements, and provide exceptional customer service.
The brand is known to provide customer service and help desk software services to businesses. The company provides a brilliant support to lakhs of firms and is still growing big day by day. Besides this, it also offers some excellent solutions such as e-commerce support, ticketing software, customer support, shared inbox and much more.
Wingify is recognized as one of the successful bootstrapped startups in India. It was founded in 2009 by Paras Chopra with the aim of providing conversion rate optimization (CRO) software solutions to businesses. By relying on its internal resources and revenue generation, Wingify managed to grow and establish itself as a leading player in the CRO software market without external funding or investments.
Currently, thousands of customers use the extra-ordinary services provided by the company. With its par-excellent solutions such as e-commerce, SaaS, e-learning, media/publication and enterprises, Wingify has today become the country’s pioneering tool for optimizing a business’s online presence.
Tagalys is an Indian company that specializes in eCommerce merchandising solutions. Established by Antony Kattukaran and Palaniappan Chellapan, Tagalys has become the go-to option for retailers to optimize their business. Their software platform helps online retailers optimize and personalize their product search, navigation, and recommendations to enhance the shopping experience for customers. This company is on a mission to provide dynamic merchandising to various businesses. So, if someone wants to build and boost the revenue of an online store, Tagalys can be their best companion.
SocialPilot
Company Name
SocialPilot
Website
www.socialpilot.co
Headquarters
Rajkot
Deals In
Social media marketing tools
Founders
Jimit Bagadiya, Tejas Mehta
Founded
2014
Social media has become a powerful tool in today’s world. It can easily make or break any business. Last on our list is one such bootstrapped company ‘SocialPilot’ that helps businesses to scale up their social media channels by offering social media marketing tools. Be it brand collaborations, engaging posts or insightful analysis, the company will take care of all your social media activities and give you the best results at the best price.
Conclusion
As we know, bootstrapping means being independent in every way and keeping everything in our own hands; it reduces the chances of getting into debt. Considering that most startups fail (almost ninety percent), we cannot guarantee that a bootstrapped startup will always be successful. The model of business and the goods that it deals with should be unique. Rest is a matter of luck regarding how the public responds to these products. But as bootstrapping makes the company independent, there are fewer chances of going indebted if it doesn’t succeed. All that is needed to make a company work is innovation.
Bootstrapping is a good idea at present. the Thriving ecosystem of bootstrapped startups in India is a testament to the entrepreneurial talent, innovative ideas, and unwavering determination of Indian entrepreneurs. As they continue to disrupt industries, create value, and make a positive impact, these bootstrapped startups are shaping the future of India’s business landscape.
FAQs
What does it mean for a startup to be bootstrapped?
Bootstrapping refers to starting and growing a business using the founder’s personal funds and resources, without external investment or funding.
Which are the top Indian startups that are bootstrapped?
Top Indian Startups that are bootstrapped are:
FusionCharts
ZOHO
42Gears
Zerodha
Freshworks
Wingify
InMobi
MyOperator
Kayako
Paytm
Which Indian bootstrapped startup became unicorn?
Zerodha is an Indian bootstrapped startup that became unicorn in 2020.
Why do startups need bootstrapping?
Startups may choose bootstrapping to maintain control, avoid debt or equity financing, build resourcefulness, and prove viability before seeking external funding. It fosters independence and allows founders to retain ownership and decision-making power.
What makes a bootstrapped company survive?
If you too want to kick-start a bootstrap business, you must keep the below things in mind.
Come up with an innovative and unique business idea
Hire excellent employees as employees will be your true investment
Control your expenses
Focus on your customers
Keep an eye on your metrics
What are the challenges faced by bootstrapped startups?
Bootstrapped startups often face challenges such as limited resources, slower growth, and increased financial constraints. They need to carefully manage their finances, prioritize investments, and find creative solutions to overcome hurdles.
The world’s longest-running AI show series is hosting its 40th edition in Jakarta, Indonesia. Attendees will once again bear witness to next-gen solutions like AI, IA, Robotics, and Generative AI from global leaders and explore their relevance and impact on their organization.
Thursday, 18 May 2023: With premium sponsors and partners, an ecosystem of more than 5,000 startups, and more than 20,000 delegates each year, the World AI Show global series enjoys the support of the IT world’s elite. Known for providing a platform for sharing ideas, insights, and trends, Trescon’s World AI Show is scheduled to take place on the 7th & 8th of June 2023, in Jakarta, Indonesia.
The central theme of this edition is using AI to enhance digital transformation. The aim of the conference is to address industry-wide challenges using innovative AI solutions to bring about significant changes in industries that are strategically important to Indonesia.
The world’s longest-running AI show series assists businesses in accessing relevant and reliable information pertaining to AI and Web3 technologies to stay ahead of a rapidly changing market for company-wide success.
The World AI Show will allow business and tech leaders from around the world to connect, share ideas, and learn from each other under one roof. The World AI Show combines the most recent technological developments with real-world applications of AI to address problems in businesses. Attendees can interact with AI researchers at the forefront of their fields and explore real-world case studies to learn about the business value of AI, owing to our unique blend of academia and industry. Tech giants, as well as leaders from governments, startups, internationally recognized universities, and investment firms, will speak at the World AI Show.
Prof. Hammam Riza, President, KORIKA “World AI Show brings together all stakeholders in accelerating National AI Strategy (Stranas KA) in Indonesia.”
NSekar, Chief Technology Officer, Blibli “Excited to be part of the Indonesian tech ecosystem and the innovations that are being launched out of Indonesia. I am looking forward to learning from what the Indonesian tech ecosystem is creating that can be adopted by other parts of the world.”
Indra Hidayatullah, Data Management & Analytics Division Head, PT. Bank Tabungan Negara (Persero) Tbk “It’s a well-organized and very interesting event. We’ll explore best practices and new ideas in digital transformation and improve customer journey, especially by optimizing Artificial Intelligence.”
Dr. Irvan Bastian Arief, VP of Data Science and Machine Learning Engineering, tiket.com “The 40th World AI Show is a great event to gather artificial intelligence (AI) and machine learning (ML) related global leaders to share, talk and discuss the advancement of AI and ML to push the maturity of this technology. As an expert in this domain, I want to share my knowledge with a greater audience and, at the same time, learn from other experts. I hope the 40th World AI Show will be massively successful.”
Antonius Tan, Chief Digital Business Officer, Sequis Life “World AI Show has always been the most-wanted event to collaborate with like-minded professionals to exchange knowledge and expertise in the field.”
Christophe Hubert, VP of Engineering, EdenFarm “As the world continues to shift towards AI-centricity, the World AI Show provides a global forum for thought leaders and innovators within the AI industry. They come together and collaborate, share knowledge, and explore the latest cutting-edge technologies in AI.”
The show will cover in-demand industry topics like:
How will Indonesia deploy AI to accelerate the economy and digital transformation
Exploring AI in the Metaverse
How AI, cloud, and improved connectivity are helping organizations to be more adaptive to a fast-changing world
Reinventing Cyber Security with AI
How AI will transform businesses
Digital Transformation & AI: Is your organization ready?
Bringing the power of AI to the Internet of Things
Harmonizing Analytics, AI & Cloud in your organization
Powering the Future of Banking with AI in Indonesia
Achieving Sustainable Development Goals through AI Innovation
Deep dive into Generative AI
This is what leading organizations have to say about their previous experiences at World AI Show:
“We’d like to acknowledge Trescon for all the great efforts and structured organization with thorough follow-up and accommodation.” – Microsoft.
“It’s been exciting, and exciting, and we think there is a lot of opportunity here, which is great.” – Denodo.
“Exchanging ideas at an event like this really opens our thinking and helps to think about things differently. It was a great event.” – Snowflake.
Some of our notable speakers include:
Prof. Hammam Riza, President, KORIKA, Indonesia
Dr. Anto Satriyo Nugroho, Director of Research Center for AI and Cybersecurity, National Research and Innovation Agency (BRIN)
Bambang Dwi Angonno, Director of e-Government, Department of Communications and Informatics, KEMKOMINFO
Dr. Rudy Salahuddin, Deputy Minister for Digital Economy, Manpower and SMEs, Coordinating Ministry for Economic Affairs of the Republic of Indonesia
Nani Hendiarti, Deputy for Coordination of Environment and Forestry Management, Ministry of Maritime Affairs and Investment of the Republic of Indonesia
Raine Renaldi, Chief of Economy & Digital Asset Committee, KADIN – Indonesian Chamber of Commerce & Industry
Dr. Lukas, Co-founder and Chairperson, Indonesia AI Society
Juan Kanggrawan, Head of Product, Data, Tribe, National Ministry (GovTech) & Smart Cities
Dr. Irvan Bastian Arief, VP of Data Science and Machine Learning Engineering, tiket.com
Sonny Supriyadi, Head, Pricing & Data Analytics, Maybank Indonesia
N Sekar, CTO, Blibli
Edmund Situmorang, Chief Technology Officer, PT. Asian Bulk Logistics
Indra Hidayatullah, Data Management & Analytics Division Head, PT. Bank Tabungan Negara, Tbk.
Indra S. Adillah, Head of ICT, PT. Indonesia Airasia
Christophe Hubert, VP of Engineering, EdenFarm
Dr. Sankaraiah Sreeramula, Chief Data Scientist, APP Sinarmas
Antonius Tan, Chief Digital Business Officer, Sequis Life
Mr. Shitalkumar R. Sukhdeve, Senior Data Scientist, PT. Smartfren Telecom
“The power of AI is limitless. At World AI Show, we are committed to showcasing the potential of AI & RPA in transforming our world and creating a brighter future for all. Our topics are current and address questions and challenges that are faced by decision makers across the world. Our carefully curated lineup of speakers is a medium to showcase the future of AI & RPA to the world. We look forward to hosting this event with great anticipation,” says Mithun Shetty, Vice Chairman, Trescon.
World AI Show is sponsored by:
Platinum Sponsor: Dataiku
Gold Sponsor: Denodo | Alibaba Cloud | Aerospike
Executive Roundtable Partner: AMD
Exhibitor: Eranyacloud
and Supported by KORIKA
About Trescon
Trescon is a global business events and consulting firm that provides a wide range of business services to a diversified client base. Trescon is founded and managed by a group of specialists with more than 8 decades of combined expertise in successfully developing business events, training, and consulting for corporates, governments, associations, and high-net-worth individuals across the world. With a deep understanding of the realities and requirements of the growth markets they operate in – they strive to deliver innovative and high-quality business platforms for their clients.
Employee onboarding is a critical process that sets the tone for new hires and greatly impacts their success within an organization. A well-executed onboarding program helps new employees feel welcomed, informed, and equipped to contribute effectively from day one.
However, there are certain dos and don’ts that employers must keep in mind to ensure a smooth and productive onboarding experience.
In this article, we will explore the essential practices that can enhance employee onboarding and highlight the common pitfalls to avoid.
It’s crucial to understand the distinction between onboarding and orientation. While orientation is a one-time event that introduces new employees to the organization, onboarding is a comprehensive process that goes beyond the initial introduction.
Orientation typically occurs on an employee’s first day or week and involves familiarizing them with company policies, procedures, and basic job functions. It provides an overview of the organization’s mission, values, and culture.
Onboarding is an ongoing process that spans weeks or even months. It focuses on integrating new employees into the workplace, helping them understand their roles, building relationships, and providing the necessary tools and resources for success.
Onboarding plays a vital role in long-term employee engagement and retention by facilitating a smoother transition, boosting productivity, and enhancing job satisfaction.
To maximize its benefits, it is important to seamlessly transition from orientation to a comprehensive onboarding process. This includes combining initial training with ongoing support, mentoring, and opportunities for growth and development. By integrating both orientation and onboarding effectively, organizations can create a positive and impactful experience that sets the stage for long-term success and employee satisfaction.
The HR Guide to a Successful Onboarding Process
Onboarding is the crucial process of integrating new employees into your organization and setting them up for success. To ensure a successful onboarding process, here are some dos and don’ts for HR professionals:
The Dos of Employee Onboarding
1. Establishing a structured onboarding process
Developing a detailed onboarding plan that outlines the steps, timelines, and responsibilities is vital. This plan should cover everything from paperwork completion to role-specific training and integration activities.
2. Communicate early and often
Reach out to new hires before their start date, providing them with information about the organization, their role, and what they can expect during their first days. Regularly check in with them to address any concerns or questions.
3. Providing necessary information and resources
Sharing company policies, procedures, and employee handbooks enables new hires to understand the organization’s expectations. Additionally, granting access to relevant documentation, software tools, and resources empowers them to perform their roles effectively.
4. Assigning a mentor or buddy for support
Designating an experienced employee as a mentor or buddy for new hires creates a support system. Mentors can offer guidance, answer questions, and help newcomers navigate the workplace culture, fostering a sense of belonging and reducing anxiety.
5. Conducting thorough training sessions
Tailoring training programs to individual roles and incorporating hands-on learning opportunities are essential. This approach allows new employees to acquire the necessary skills and knowledge to excel in their positions.
The Don’ts of Employee Onboarding
1. Neglecting proper orientation and introductions
Failing to introduce new hires to their colleagues and key stakeholders can hinder their integration and sense of connection. It is crucial to facilitate introductions and provide opportunities for new employees to meet and interact with their team members.
2. Overwhelming new employees with information
Bombarding new hires with an excessive amount of information can be counterproductive. Prioritize essential knowledge and skills during the onboarding process, allowing employees to digest and apply what they learn gradually.
3. Lack of follow-up and ongoing support
Onboarding shouldn’t end once the initial training period is over. Continuously checking in on new hires, addressing any concerns, and providing ongoing support ensures a smooth transition into their roles and helps identify any areas for improvement.
Best Practices for Successful Onboarding
There are a number of important factors that should be taken into account when developing a successful onboarding process to guarantee that new hires have an easy transition into their new employment. Here are three key considerations to keep in mind:
1. Building a positive and welcoming environment
Creating a friendly and inclusive atmosphere for new employees can help them feel valued and motivated. Encourage social integration by organizing team-building activities, welcome lunches, or informal gatherings.
2. Collecting feedback and making improvements
Establish feedback mechanisms to gather insights from new hires about their onboarding experiences. Actively listen to their feedback and implement necessary improvements to enhance the onboarding process continuously.
3. Monitoring onboarding effectiveness
Set key performance indicators (KPIs) to evaluate the success of your onboarding program. Regularly review the metrics to identify areas of strength and areas that require further attention. Adjust your strategies accordingly to improve overall effectiveness.
Measuring the Employee Onboarding Experience: Key Metrics and Methods
The employee onboarding experience is crucial for new hires’ success and satisfaction. It shapes their engagement, productivity, and commitment. Measuring and evaluating this experience is essential for an impactful onboarding process. Here, we present strategies to gauge its impact.
1. Surveys and Feedback
Conducting surveys and gathering feedback from new employees is an essential tool for measuring their onboarding experience. Utilize both quantitative and qualitative methods to capture a comprehensive understanding. Surveys can include questions about the clarity of expectations, the effectiveness of training and orientation, the level of support received, and overall satisfaction. This data provides valuable insights into areas of improvement and helps identify any gaps in the onboarding process.
2. Performance Indicators
Monitoring key performance indicators (KPIs) can provide objective measures of the onboarding experience. Metrics such as time to productivity, employee engagement levels, and retention rates can indicate the effectiveness of the onboarding process. By tracking these indicators over time, organizations can assess the impact of onboarding on employee performance and retention.
3. Mentorship and Buddy Programs
Implementing mentorship or buddy programs during the onboarding process allows for informal feedback and evaluation. Encouraging mentors and buddies to provide regular check-ins and assess the new employee’s progress can provide valuable insights into their onboarding experience. These programs facilitate a supportive environment and foster a sense of belonging.
4. Exit Interviews
Exit interviews offer a unique opportunity to gather feedback from departing employees about their onboarding experience. By conducting thorough and constructive exit interviews, organizations can identify recurring issues or areas of improvement in the onboarding process. This feedback can guide future enhancements to create a more effective onboarding experience for new hires.
5. Benchmarking and Comparative Analysis
Comparing the onboarding experience of new employees to established benchmarks or industry standards can provide valuable insights. Analyzing data from previous cohorts or comparing against competitors can help identify areas where the onboarding process can be strengthened and improved.
Conclusion
Effective employee onboarding is a critical investment that pays off in increased employee engagement, productivity, and retention. By following the dos and avoiding don’ts of employee onboarding, organizations can provide new hires with a seamless transition into their roles, fostering a positive work environment. Remember, an effective onboarding process sets the foundation for long-term success and growth, benefiting both the employees and the company as a whole.
Investing in mutual funds is an excellent way to build a diversified portfolio. By pooling your money with other investors, mutual funds provide access to a wide range of investments, reducing the risk associated with investing in individual stocks or bonds. In this article, we will explore how to invest in mutual funds strategically and build a diverse portfolio that suits your investment goals and risk tolerance.
Understanding Mutual Funds
Mutual funds are a type of investment vehicle where investors pool their money to invest in a portfolio of stocks, bonds, or other securities. An investment manager oversees the fund, buying and selling securities on behalf of the investors in the fund.
Investing in mutual funds is a great way to diversify your portfolio, reduce risk, and potentially earn higher returns than you would by investing in individual securities. Mutual funds are an excellent option for investors who do not have the time, knowledge, or resources to manage their own investments.
What Are Mutual Funds?
Mutual funds are a popular type of investment vehicle that allows investors to pool their money together to invest in a diversified portfolio of stocks, bonds, or other securities. The fund is managed by an experienced investment manager, who makes investment decisions on behalf of the investors.
When you invest in a mutual fund, you are buying shares in the fund. The value of your shares is based on the performance of the underlying securities in the fund. If the securities in the fund increase in value, the value of your shares will increase as well. Conversely, if the securities in the fund decrease in value, the value of your shares will decrease.
Types of Mutual Funds
There are several types of mutual funds, each with its investment strategy and risk level. Some common types of mutual funds include:
Index funds: These funds are designed to track the performance of a particular stock market index, such as the S&P 500. They are typically low-cost and offer broad market exposure.
Equity funds: These funds invest primarily in stocks. They can be further classified based on the size of the companies they invest in, such as large-cap, mid-cap, or small-cap funds.
Bond funds: These funds invest in bonds and other fixed-income securities. They can be further classified based on the credit quality of the bonds they invest in, such as investment-grade or high-yield bond funds.
Money market funds: These funds invest in short-term, low-risk securities, such as Treasury bills and commercial paper. They are designed to provide investors with a safe place to park their cash.
Global and international funds: These funds invest in securities from around the world, providing investors with exposure to international markets.
Benefits of Mutual Fund Investing
Mutual funds offer several benefits for investors, including:
Diversification: By investing in a mutual fund, you can spread your investment across a wide range of securities, reducing the risk of a single investment negatively impacting your portfolio. Diversification is an essential part of any investment strategy.
Professional management: A team of experienced investment professionals manages mutual funds, making investment decisions on your behalf. These professionals have access to research, data, and other resources that individual investors may not have.
Liquidity: Mutual fund shares are easy to buy and sell, making it easy to move money in and out of investments. This makes mutual funds a flexible investment option that can be tailored to your individual needs.
Low minimum investment: Many mutual funds have a low minimum investment requirement, making them accessible to investors with a wide range of budgets.
Tax efficiency: Mutual funds are designed to be tax-efficient. They are structured in a way that allows investors to minimize their tax liability, which can help increase returns over time.
Overall, mutual funds are an excellent investment option for investors of all levels of experience. Whether you are just starting or are a seasoned investor, mutual funds can help you achieve your investment goals.
If that’s not enough, Quantum AI Trading is revolutionizing diversified mutual fund investing by leveraging advanced AI algorithms and quantum computing. It enables investors to build well-diversified portfolios by identifying trends and opportunities across various asset classes. With its data-driven predictions and optimized risk management, the Quantum AI app empowers investors to navigate market fluctuations and achieve their financial objectives with confidence.
The Importance of Diversification
Diversification is a critical component of any investment strategy. By spreading your investments across a range of securities, you can reduce the impact of any single investment negatively impacting your portfolio.
Reducing Risk with Diversification
Investors face several risks when investing in the stock market. One of the most significant risks is the potential for a single security to negatively impact your portfolio. By diversifying your investments across multiple stocks and bonds, you can reduce the risk associated with any individual investment.
Achieving Diversification through Mutual Funds
Mutual funds are an excellent way to achieve diversification in your portfolio. Many mutual funds invest in a wide range of stocks, bonds, and other securities, reducing the risk of any individual security negatively impacting your portfolio. By investing in a diverse mix of mutual funds, you can further reduce your risk and increase your exposure to different sectors and asset classes.
The Role of Asset Allocation in Diversification
Asset allocation is the process of dividing your investment portfolio among different asset classes, such as stocks, bonds, and cash. By diversifying your portfolio across different asset classes, you can reduce the risk of any single asset class negatively impacting your portfolio.
Building a Diverse Mutual Fund Portfolio
Building a diversified mutual fund portfolio requires careful planning and consideration. Here are some steps you can take to build a diverse mutual fund portfolio that suits your investment goals and risk tolerance.
Assessing Your Risk Tolerance
Before investing in mutual funds, it’s important to evaluate your risk tolerance. Your risk tolerance will help you determine the type of mutual funds you should invest in and how much risk you’re comfortable taking.
Selecting the Right Mix of Mutual Funds
Once you’ve assessed your risk tolerance, it’s time to select the right mix of mutual funds. Consider investing in a mix of equity and bond funds, as well as funds that focus on different sectors and asset classes. This will help you avoid overconcentration in a particular area and reduce the risk of any single security negatively impacting your portfolio.
Diversifying Across Investment Styles and Sectors
Investing in mutual funds that focus on different investment styles and sectors is another way to achieve diversification in your portfolio. For example, you might consider investing in a mutual fund that focuses on growth stocks and another that focuses on value stocks. This will provide exposure to different investment styles and reduce the risk of any single style negatively impacting your portfolio.
Monitoring and Rebalancing Your Portfolio
Once you’ve built a diverse mutual fund portfolio, it’s important to monitor it regularly and rebalance it when necessary.
The Importance of Regular Portfolio Reviews
Regular portfolio reviews allow you to track the performance of your investments and make informed decisions about rebalancing and adjusting your portfolio.
When to Rebalance Your Mutual Fund Portfolio
You should consider rebalancing your portfolio when your investment objectives change, the market experiences significant volatility, or your investments become over-concentrated in a particular asset class or sector.
Tips for Rebalancing and Maintaining Diversification
To maintain a diversified mutual fund portfolio, consider investing in funds that focus on different asset classes and sectors. Avoid chasing returns and stick to your investment plan. Finally, consider working with a financial advisor who can help you monitor and adjust your portfolio as needed.
By following these strategies, you can build a diversified mutual fund portfolio that aligns with your investment goals and risk tolerance. Keep in mind that investing involves risk and that past performance is no guarantee of future returns. Consult with a financial advisor before investing in mutual funds.
This article has been contributed byMr. Manish Gupta, CEO, TestingXperts, a Next Gen Quality Assurance & Software Testing Company.
To get the record straight, testing was and is at the heart of every software program that has been conceived, created, developed, and boldly aimed at scaling the product. Continuous software testing on the parameters of functionality, performance, security, and accessibility ensures seamless UI and UX.
Now technology is amoebic—ever-changing, taking us to another level of ambitious minds. The phenomenal rise in tech startups and the breathless pace of digital acceleration are fine examples of a burgeoning tech space globally. India, especially, is fast turning into a hub for software testing, startups, and innovation. There is a ‘techspiration’ in the air, opening unimaginable opportunities and potential for growth and next-gen technologies.
The one that trumps them all, or, shall we say, drives them, is Artificial Intelligence, and it goes beyond ChatGPT. Governance, environment, social, health, finance, tourism, and education – its presence and utilization is vast and impactful. According to the Mckinsey report, AI has doubled since 2017, and there is increased confidence in AI as businesses plan year-on-year increases in their AI investments compared with the past year (82 percent in 2021 and 88 percent in 2022, as per Deloitte India).
As we wrap our heads around this little devil that has the unbelievable power to unlock and unleash a wave of change that can disrupt the order of the world as we know it (hopefully in a good way), along with the tech startups riding the new wave of technology, we view it through the lens of how they’re transforming the software testing industry.
As software applications continue to proliferate in every aspect of our lives, the importance of efficient and effective software testing is paramount. However, traditional methods of software testing are labor-intensive, time-consuming, and often not comprehensive enough to catch all potential issues. This is where AI and tech startups are stepping in to transform the software testing industry, and in the process, creating a whole new specialized job market where test engineers with special skill sets are rising in demand.
AI is rapidly transforming the world, and the software testing industry is no exception. The rise of AI and tech startups is driving innovation, and companies are leveraging AI to improve their products and services. AI-based testing tools are revolutionizing the way software is tested, helping companies improve product quality and time to market. These tools can quickly and accurately detect defects and errors that traditional testing methods might miss, making software development faster and more efficient. For instance, insurers are taking advantage of data to make smarter decisions about risk and pricing. With AI algorithms, they can quickly analyze large datasets and make informed choices about risk management. This has made risk assessment faster and more accurate than ever before, helping insurers stay ahead of the curve.
Advantages of Using AI in Software Testing
AI-based tools can detect defects and bugs that humans might miss, leading to more accurate and thorough testing. UiPath and Tricentis are two examples of QA organizations that offer AI-based testing solutions. UiPath’s Test Suite uses AI to identify and fix issues, while Tricentis’ Tosca helps teams accelerate software testing and increase test coverage. Similarly, advanced QA solutions such as TestingXperts’ Tx-Smartest help businesses boost software quality through production enabled by combining AI, ML, Deep Learning, and neural network algorithms, hence providing a more efficient and reliable testing process.
Examples of Successful AI-Based Software Testing Startups and Their Impact
Several successful AI-based software testing startups have emerged in recent years. Functionize, for example, uses AI to create tests and detect issues in real time, improving software quality and reducing testing time. Mabl offers a testing platform that uses AI to identify and fix issues, making software testing more accurate and efficient. Applitools, another startup, uses AI to help teams automate visual testing and detect errors that are difficult to spot manually. These startups are changing the game in software testing by offering solutions that improve quality, reduce costs, and speed up the testing process.
Overview of the Startup Ecosystem in Software Testing
The startup ecosystem in software testing is evolving rapidly due to the ever-increasing demand for reliable and high-quality software. The market for software testing startups is expanding, and more and more entrepreneurs are investing their time, money, and resources in this field. With the help of new technologies and innovations, software testing startups are catering to the needs of businesses of all sizes, from small startups to large enterprises. The software testing market has become a lucrative field for startups, and investors are willing to invest in these startups due to their high potential for growth.
Key Players and Notable Startups in the Industry
The software testing industry is filled with numerous startups that are providing innovative solutions to businesses. Some of the key players and notable startups in the industry include Testlio, BrowserStack, TestFairy, TestObject, and Testim. These startups are developing tools and solutions that make software testing faster, more efficient, and more reliable. For instance, Testlio provides managed app testing services that help businesses find critical issues and fix them before launching their apps. BrowserStack provides cloud-based testing tools that enable businesses to test their apps on various devices and browsers. Testim offers a codeless test automation platform that makes it easier for businesses to automate their testing processes.
Emerging Trends in Software Testing Startup Culture
The software testing startup culture is continuously evolving, and new trends are emerging in the industry. Some of the emerging trends in software testing startup culture are:
Test Automation: Manual testing is no longer sufficient with the increasing complexity of software applications. Test automation enables startups to run tests quickly and consistently, ensuring the software product is free from defects and meets all requirements.
Continuous Integration and Delivery: Startups are leveraging CI/CD to automate the entire software delivery process, from building to testing to deployment and release. This helps startups reduce time-to-market, improve product quality, and increase customer satisfaction.
Agile Testing: Agile testing emphasizes collaboration, communication, and teamwork among developers, testers, and other stakeholders. Startups are adopting agile testing to ensure that the software product is delivered to customers faster and with higher quality.
Shift-Left Testing: Startups are using Shift-Left testing to identify defects and issues early in the development cycle, when they are less expensive and easier to fix. The process also helps startups reduce testing time, improve product quality, and increase customer satisfaction.
Cloud Testing: Cloud testing enables startups to test their software products on a wide range of devices, platforms, and environments, without the need for expensive hardware and infrastructure. Startups are using cloud testing to reduce testing time, improve product quality, and increase test coverage.
Potential Future Implications of AI and Tech Startups in Software Testing
AI and tech startups have the potential to transform the software testing industry in the future. AI-powered testing tools can analyze vast amounts of data quickly and accurately, making the testing process more efficient and effective. AI-powered testing tools can also help businesses identify critical issues that may have gone unnoticed in manual testing. Moreover, tech startups can leverage emerging technologies such as blockchain and edge computing to provide even more advanced testing solutions. These technologies can enhance the speed, security, and scalability of software testing, making it easier for businesses to ensure the quality of their software.
Conclusion
As AI and tech continue to evolve, we can expect to see further advancements in the software testing industry, ultimately resulting in higher-quality software products for end-users. It’s an exciting time to be involved in software testing, and with the help of AI and tech startups, the future looks brighter than ever.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Anchorage Digital.
The blockchain industry is booming, with an expected market size of $67.4 billion by 2026. With the blockchain market growing, financial institutions, fintech companies, and governments are looking for platforms to manage their digital assets, including cryptocurrencies.
Digital asset management is all about efficiently storing, organizing, managing, and transacting digital assets with the help of a robust infrastructure. Anchorage Digital is a US-based private company famous for offering digital asset financial services and infrastructure facilities.
This article highlights every crucial detail about Anchorage Digital: its startup story, founders, products and services, funding, investors, future plan, and more.
Anchorage Digital is a digital asset financial services and infrastructure provider that helps clients deal with holding, investing, and infrastructure for cryptocurrency and cryptocurrency products. In addition, the company offers a digital bank as a crypto-native bank and crypto strategies for leading institutions.
With offices in San Francisco, New York, Portugal, Singapore, South Dakota, and Asia, Anchorage Digital provides its offerings to a global roaster of institutional clients, including SEC-registered investment advisors, crypto protocols, asset managers, and venture capital firms.
Anchorage Digital – Founders
Diogo Monica and Nathan McCauley co-founded Anchorage Digital in 2017.
Diogo Monica
Diogo Monica – Co-Founder and President, Anchorage Digital
Diogo Monica graduated with a BSc and MSc in Communication Networks Engineering and a Ph.D. in Computer Science – Network Security from Instituto Superior Tecnico.
He commenced his career as a Platform Security Lead at Square Inc and then worked as Security Lead at Docker, Inc. Additionally, he held the role of Advisor at Airtable, StackRox, and Jscrambler.
Presently, he is working as the Founder and President of Anchorage Digital.
Nathan McCauley
Nathan McCauley – Co-Founder and CEO, Anchorage Digital
Nathan McCauley co-founded Anchorage Digital and is the company’s CEO. Previously, he worked as Technical Product Manager / Software Engineer at Arxan Technologies and Security Engineering Manager / Security Engineer at Square.
He has also been the Director at Docker, Inc and Board Director at Vendor Security Alliance.
Anchorage Digital has a team of more than 300 employees.
Anchorage Digital – Startup Story
Diogo Monica and Nathan McCauley founded Anchorage Digital in 2017 with its early investors, Andreessen Horowitz and Blockchain Capital. In 2019, Visa invested in the company and used it to provide cryptocurrency payment services. It added trading and financial services in 2020.
Later in 2020, Anchorage Digital established its first engineering hub in Porto, Portugal, and is the first cryptocurrency unicorn with a presence in that nation. Furthermore, Anchorage Digital Bank received its banking chart from the Office of the Comptroller of the Currency in 2021. It made it America’s first federally chartered cryptocurrency bank.
The same year, it entered into a contract with the United States Department of Justice to act as custodian for all digital assets seized or forfeited in criminal cases. Anchorage Digital was valued at over $3 billion in December 2021. In 2022, the company became the first federally chartered bank to custody an NFT.
Anchorage Digital – Mission and Vision
Anchorage Digital’s mission is to invent solutions for the future of capital. Moreover, its vision is to be the foundation upon which value can safely move in the new global economy and let innovation grow without bounds.
Anchorage Digital works with America’s first federally chartered crypto bank and Anchorage Digital Singapore (which offers equivalent security and service standards) to provide institutions with an unparalleled combination of secure custody, product breadth, regulatory compliance, and client service.
The company acts as a custodian of digital assets for financial institutions and governments. Moreover, it stores and secures cryptocurrency using biometric authentication and hardware security modules.
Anchorage Digital – Products and Services
Anchorage Digital serves as custodian of digital assets and also provides lending and trading of digital assets. In addition, it offers multiple crypto services, including security, risk monitoring, safekeeping, compliance, and fiduciary obligations.
The company launched Build With Anchorage Digital to link every business with crypto through its safe, regulated, and secure infrastructure.
Anchorage Digital – Funding and Investors
Anchorage Digital has undertaken 5 funding rounds and raised a total of $487 million. Its latest funding round – Series D Round, was conducted on December 15, 2021, and raised $350 million. 32 investors fund the company, of which 4 are lead investors, including Blockchain Capital Kraken, Golden Tree Asset Management, and Andreessen Horowitz.
Date
Round
Number of Investors
Money Raised
Lead Investor
December 15, 2021
Series D
19
$350 million
Kohlberg Kravis Roberts
February 25, 2021
Series C
6
$80 million
GIC
July 10, 2019
Series B
5
$40 million
Blockchain Capital
January 23, 2019
Series A
9
$17 million
Andreessen Horowitz
November 3, 2017
Seed Round
2
–
–
Anchorage Digital – Mergers and Acquisitions
Anchorage Digital acquired Merkle Data in 2020 for an undisclosed amount.
Anchorage Digital – Growth
The estimated annual revenue of Anchorage Digital was $63 million per year, with a $3 billion valuation in March 2023. Moreover, the monthly web visits grew by -21.08%, with 11,120 visits.
Anchorage Digital plans to use the bear market as a time to build with its institutional partners in the face of more macroeconomic uncertainty while paving the path for a safe, secure, and regulated digital asset ecosystem.
FAQs
What does Anchorage Digital do?
Anchorage Digital is a digital asset financial services and infrastructure provider that helps clients deal with holding, investing, and infrastructure for cryptocurrency and cryptocurrency products.
Who are the founders of Anchorage Digital?
Diogo Monica and Nathan McCauley co-founded Anchorage Digital in 2017.
For the past few months, ChatGPT has been the talk of the town. From office colleagues talking about ChatGPT and how Artificial Intelligence is coming for their jobs to dinner table talks to how ChatGPT has made lives so easy— mainly school children who are often late to submit their homework and essays.
When Google first announced its most ambitious project, the new Bard AI, it was found that it made a significantly factual error about the James Webb telescope capturing exoplanets which were incorrect. This blunder cost Google’s parent company, Alphabet, to lose 9% of the market cap, nearly 100B dollars wiped off the market in February 2023. From aiming to become the “AI first” company to lagging and playing catch up with some of the prominent players in Artificial Intelligence, Google is raising brows.
Google’s bard sometimes conjures up fake facts, and ChatGPT is not impervious to the same either. On several occasions, ChatGPT is also found making up bogus data if it was instructed to focus on data.
This is unacceptable, but what can be done about that? The simple answer is that you, the user, must be careful and mindful to know what the truth is and what is a farce.
ChatGPT is truly a revolution. The OpenAI CEO, Sam Altman, says that ChatGPT was a pivotal moment for AI, and he might just be right. ChatGPT is a remarkable invention in the field of AI and ML. Notably, decades of hard work have gone into the transformer structure powering the AI chatbot. It is based on the GPT-3.5 model but finetuned to respond well to conversations. It can understand natural language and respond the same way. ChatGPT can generate text, write emails and creative content like poems and codes, and produce summaries of any historical event when prompted. But I must point out that any Large Language Model (LLM) is just as good as the dataset it has trained on. So, it cannot be ruled out that the answer won’t be biased one way or the other, especially on critical issues such as race, gender, and political happenings.
If you are thinking about using ChatGPT to write a blog post that is well structured and SEO (Search engine optimization) friendly, there are specific points you must keep in mind.
Use ChatGPT To Research Your Topic
What do you do when you think about writing a blog on a particular subject? You do your research and familiarize yourself with the context and the topic. You read a few articles, gather facts, and try to create a structure and a story. Now you can do all that with ChatGPT as well. It will act like your personal assistant if you treat it like one. With simple commands/ prompts like “Who was Picasso and what paintings did he make in his lifetime?” and “Describe the paintings (a series) titled ‘The weeping woman?”, etc. you can gather enough data and facts about Picasso, Picasso’s paintings, and the story behind “The weeping woman” in particular. You will know that the weeping woman was Picasso’s mistress and his muse, Dora Maar. Those paintings were created by Picasso in response to the bombing of Guernica in the Spanish Civil War, and thus are closely associated with the iconography in his painting, Guernica.
But while you research your blog title and gather crucial facts to make your blog informative and of substance, you must be mindful of the facts. You must carefully fact-check such facts which you don’t personally know so that you don’t spread misinformation/disinformation.
ChatGPT Tutorial – How to Create a Profitable Blog with AI
Ask ChatGPT To Create A Wireframe
While writing something, even as simple as a blog post, people often stray from the direction they had in mind before starting the writing process. And as it happens, many struggle with a good start. But first, what should be a good start? Well, you can ask ChatGPT to create a wireframe for you or ask, “Write a blog on xyzxyzxyz” and it will most certainly write one for you, and you can pick some points to start your wireframe and your own story. I must mention at this point that ChatGPT cannot write a good blog post, and you have to do that for yourself. And there are many reasons for that.
First of all, it doesn’t come with emotional intelligence, so the post would often be bland and direct. While direct is not bad, I like direct blog posts, but they must have some personal human touch that we humans crave because, believe it or not, AI is not a good storyteller or creator.
Secondly, context! As it happens, ChatGPT will miss your context and the direction you want it to head. Also, ChatGPT is limited by its training dataset. So, what if it has trained on 570GB of a dataset of text and codes and nearly 6B parameters? Its dataset is in the past as well. Self admittedly, ChatGPT cannot answer about post-2021 events like the FIFA 2022, Qatar, or 2022 US Open or the recently held Superbowl, where Rihanna set the stage on fire with her jaw-dropping performance.
Fact-check The Facts That Seem Odd At ChatGPT
Yes, I warned you about inaccurate content that LLMs will produce sometimes, but you can always fact-check. On ChatGPT itself, if you ask it to fact-check a particular statement it fabricated, it might admit the mistake. And correct the same.
You must fact-check on other popular sources as well, just so your content is factually correct and doesn’t become misinformation.
Make Your Blog SEO-Friendly At ChatGPT
SEO Friendly Blog
You can also use ChatGPT to make your blog post SEO-friendly. For those who don’t know what SEO is and how it works— know that Google ranks your content once published based on EAT, which is expertise, authoritativeness, and trustworthiness. So, make sure you focus on all the three. Apart from this, use ChatGPT to do keyword research and list relevant keywords that match your blog topics. You can also ask ChatGPT to create embeddable elements and enhancements to make your content more linkable, thus allowing it to enhance the content rating on Google.
Additionally, you can also ask ChatGPT to do content clustering, which will help the Google Search Engine to analyze your content better and rank higher.
Conclusion
To conclude, it is good that you use ChatGPT to write blog posts, and you can use the tips and tricks mentioned above but always focus on the context, facts, and personal touch, which AI LLM will most likely fail at. Use ChatGPT wisely and use it as an assistant rather than a writer.
FAQs
What should a blogger keep in mind while using ChatGPT for writing a blog?
There are a few specific points that a blogger must keep in mind while using ChatGPT for writing a blog. The blogger can use ChatGPT to:
Research The Topic
Create A Wireframe
Make The Blog SEO-Friendly
What are the limitations of ChatGPT in blog writing?
There are a few limitations of ChatGPT which are as follows-
ChatGPT cannot write a good blog post
It doesn’t come with emotional intelligence
It is not a good storyteller or creator
ChatGPT will miss your context and the direction you want it to head.
Preeti Karna
