IoT Possibilities In HealthCare Industry

IoT is a trending topic that has made its prominent mark in the tech world. As the human race is going towards using digital technologies, IoT has impressed us for its benefits in business, daily life, and other fields. And, it has multitudinous applications in the healthcare industry as well. IoT devices capture and monitor data. These devices are connected to the public or private cloud and can communicate with other IoT devices. A Research claims that the rise of IoT implementations in healthcare for remote monitoring healthcare systems can identify serious life-threatening diseases.

IoT is consistently coming forward with such devices and tools that make up an integrated healthcare system. The use cases of the IoT in healthcare has grown in number from the past. IoT enabled devices for healthcare will improve the outcomes of treatment. Also, patients are treated better and more care. IoT helps to reduce healthcare costs due to remote monitoring of the patient without being hospitalized. Healthcare IoT is effective in taking care of patients in the best way possible as it improves how medical practitioners deliver care.

In hospitals, data management has gotten better with the implementation of IoT devices such as scanners and monitors. IoT devices have been offered as fetal monitors, electrocardiograms, temperature monitors in hospitals for tracking health data. 

Remote health monitoring is provided with healthcare IoT at the time when there is an emergency. Patients require timely and prompt medical attention. Failing so, it is a major concern for the patient’s health. IoT enabled devices which are embedded with sensors will notify the concerned healthcare providers immediately upon there is any variation in the significant functions of an individual. This is possible for these devices due to their capacity of applying complex algorithms and analyzing it which in turn ensures the patient receives proper attention and medical care. Many patients risk their life because of the infections they get from lack of proper hand hygiene in hospitals. Hand hygiene monitoring system integrated with IoT is there to detect the person when he comes near patients without washing hands or to identify unhygienic conditions. A number of hospitals have smart IoT beds which have the capability to detect when the patient is getting up from bed or the when there is a person or not lying on the bed.

You may also read:3 Ways IoT Is Changing The World Around Us

It has also vast possibilities in an area that deals with home medication dispensers. This IoT technology is combined with home medication dispensers to automatically upload data to the cloud at the moment when medication is not taken by the patient or any other vital indicators to alarm the healthcare team. This smart technology gives accurate data analysis. It reduces errors along with the reduction of medical cost. It makes a better management of all the patients and is beneficial for effective cost reduction, instant disease diagnosis, better treatment, and a more efficient health care system for boosting the patient experience.

On a clear picture, we already have been seeing its major potential in the healthcare sector. And by this and next year, the number of healthcare companies is going to increase immensely in implementing IoT technology. However, it also raises concerns about data privacy and security. There is risk prevailing in the use of healthcare IoT as well. Healthcare data is so sensitive and is vulnerable to hackers and data thefts.

Before implementing these devices, it should be confirmed that the data traffic between IoT devices is encrypted. Although most of current IoT devices are secured, they could not be fully protected.

Banking Inter entity Reconciliation Made Simple with Blockchain

The blockchain technology is becoming ubiquitous by playing a significant role in process efficiency, time reduction, and cost-effectiveness, where the end game is “all good” for the consumer.

Blockchain has every potential to lower the cost for banks and the consumers as well with its adoption for reconciliation. Let us see what promise the blockchain holds in banking reconciliation.

The Blockchain is being adopted as a strategic initiative in almost all industrial sectors today. It is the much appreciated and alluring technology of the day. Evidently, the key players are exploring the technology for several operations across their industries in order to increase efficiency, reduce the time and investment cost.

Banking is one sector, where blockchain technology could be explored and offers a promising data management and sharing by keenly addressing the inter-entity reconciliation and consolidation challenges.

A bank reconciliation refers to the process of matching the accounting records of an entity to the corresponding records on the bank statement. It has to be completed on a regular basis so that the accounting records are appropriate.

However, the large banking groups spread across the globe find this task extremely challenging as it involves sharing of cost for common services, multiple currencies, service fees, allocation of tax, dividends, and, etc., apart from routine transactions.

Some of the complex activities involved in maintaining the records have been briefed below.

Challenges of Inter-entity Reconciliation:

Limited Visibility:

The entities are distributed over the geographical locations, possess varied and isolated accounts. This limits the visibility of the transactions at the enterprise level.

System-level Variation:

The banking groups include takeovers, mergers, or the acquisition. And, also the group entities use varied accounting systems. This obviously curtails the common accounting process.

Level of Accuracy:

The process involved in different groups may be manual, semi-manual, or system-based which are error-prone and time-consuming. Assurance of accuracy and timeliness is a challenge.  

Transaction Volume:

The transactions are voluminous and multidimensional leading to complexity in record maintenance. It is difficult to record all of them within the stipulated time frame.

Accumulated data:

When data gets accumulated, it may lead to errors in accounting, duplicate entries, cancellation charges, foreign exchange, transfer pricing, and, thus complicating the situation.

Thus, the banks are already exploring ways for a common and standardized reconciliation process to perform activities in-sync and real time.

Effective management of the reconciliation process enable the banks to foresee the errors and curtail mismatches. The banking enterprises are creating centralized reconciliation teams or outsourcing them to the third-party service providers. Though this seems to be a solution, it may not work in the long run.

As anticipated, here comes the role of the blockchain.

“The Italian Banking Association (ABI) has opened a pilot project on blockchain-based interbank reconciliations to the first group of 14 lenders.

The workgroup, composed of the participating banks and ABI Lab, is using R3's blockchain-based Corda platform to bring more visibility to the exchange of interbank transactions, verifying the matching of correspondent accounts and highlighting discrepancies for automated remediation”.

The robust mechanism involved in blockchain minimizes the bank personnel involvement and they can devote their time to core business activities, and bring value to the overall business.

How Blockchain Makes Banking Reconciliation Easier?

• The inherent distributed ledger feature maintains the entries easily.
• The commonly distributed ledgers available in real time eliminates mismatches.
• It distributes the financial info to all the participants during remittance.
• The participating entity can download and match the payment info with the info from the bank.
• Use of digital signatures helps for auditing process and is also secure.
• Blockchain delivers the APIs for integration with the accounting systems.
• The APIs could be integrated with branch-level accounting systems or as a standalone app.
• A] The branch-level API records, approves and query the accounting entry.
• B] Group-level API queries the unapproved accounting entries.
• Another plausible approach is the encrypted ethereum based solution for each of the entities.

You May Also Be Interested In: How Blockchain Enhances Customer Service Delivery

The Final Thought:

Kharim Lakhani, a Harvard Business School professor, said in an interview with HBR IdeaCast, hacking blockchain requires a “James Bond-level villain”.

And, of course, James Bond-level villain is hard to get. Henceforth, your blockchain dependent banking reconciliation process is secure and safe.

Though proof of concepts [poc] is needed, blockchain-based solutions are as promising in reality as they are projected.

Reconciliation process when integrated with blockchain accelerates the process of financial close accurately every month and strengthens the defense by detecting the fraud at an earlier stage and foresee the errors.

Thus, blockchain maintains the integrity of the balance sheet.

Leading Airline Companies To Go AI Friendly

The worldwide aviation industry forms a humongous network, supporting 3.6% of the world’s GDP. The number doesn’t seem quite impressive just yet? Believe it or not, this small fraction accounts for over $2.7 trillion out of which $898 billion comes from tourism. In the US alone, over $168 billion were generated by the commercial airline system in 2016. Seeing these mammoth numbers, one can figure out how vast Airline industry is. Not only that, the global airline industry generates over 10 million jobs every year, thereby contributing about $700 billion to the global GDP. As a matter of fact, the industry is still growing in massive numbers as it’s going through innumerable technological advancements.

Artificial Intelligence is one of the many technologies that is being used in the aviation industry for quite a long time now. From ground staff monitoring to flying aircraft carriers, AI is everywhere. Nevertheless, AI is finding new use cases in the Aviation industry every now and then. As it turns out, numerous Airline companies have embraced this state-of-the-art technology to improve their improve their customer services. In this blog, we have listed 3 such companies that have gone AI friendly in recent years and are likely to implement this technology in many other business operations pretty soon. So let’s get started!

You may also like How Location-Based VR Can Be A Boon For The Adrenaline Junkies.

Delta Airlines

Delta Airlines or simply ‘Delta’ is a prominent US-based airlines company having its headquarters in Atlanta, Georgia. In May 2017, the company announced a huge investment of over $600,000 in four of its automated self-service security kiosks. All four kiosks are powered by Artificial Intelligence and one out of these incorporates an astonishing facial recognition technology. The company installed these kiosks at St. Paul International Airport in Minneapolis. One of these kiosks makes use of a facial recognition technology to verify customer identity by matching the faces of their customers with the photos in their passport.  

 

Southwest

This yet another American Airlines company is using Machine Learning to improve its flight operations and customer services for quite a long time now. Although the company hasn’t released an official statement of it using AI and Machine Learning in its operations, there are many pieces of evidence that explicitly show that the airlines has been using machine learning techniques such as time-series analysis and pattern recognition to empower its data mining capabilities.

Also read AI Will Dominate The Mobile Market In 2019.

Air Asia

Malaysia’s low-cost aircraft carrier, Air Asia is apparently working on an AI project with Google Cloud to implement AI and Machine Learning in their business processes. The company is planning to install up to 20,000 sensors into one of its aircrafts, thereby providing better means to the aviation engineers to perform timely maintenance tasks and reduce unnecessary wastage of spare parts. If this experiment turns out to be a success, then the company is likely to implement this on a large scale in the coming months.

Android Application Development Experts

Want to create a user-friendly Android App for your business? You are at the right place. With a professional team of Android Application Development Experts, we offer tech-driven solutions for all your business needs. We have the proficiency to cater your needs efficiently. Oodles Technologies is a renowned name in the field of app development, our services include up-to-date, seamlessly integrated apps.

Android is an invaluable endowment of Google to the worldwide smartphone community. Based on a Linux kernel version, it is the world’s most popular and the most extensively used mobile operating system. Being an open-source mobile operating system, Android powers an enormously large number of smartphones from different manufacturers. On contrary to this, all the other operating systems such as iOS, Blackberry, and Windows are exclusively built for their own smartphones.

 

Android was built for all the touchscreen-enabled smartphones and tablets but now it supports many other types of devices including Smart TVs, Smart Watches and Android Auto. Ever since the launch of Android, Google has released a number of system updates. There have been 7 major updates of Android so far and each one brought new features and enhancements. The most recent update to Android is Nougat 7.1 which offers some outstanding features like quick app switching and split-screen view.

Why Choose Oodles Technologies?

  

We at Oodles Technologies are pioneers in building avant-garde apps for mobile platforms like Android and iOS. With vast experience in android application development, we provide high-quality application development services at the best market price. We have a team of Android App Developers with hands-on experience in building high octane applications. Besides Android, we also have high competency in iOS App Development and we also provide app and channel development services for the popular streaming media players such as Roku, Apple TV, and Amazon Fire TV.

AI Will Create New Jobs By 2020

While we have embraced the era of artificial intelligence, we are also afraid of losing our jobs. So, the question that arises is what exactly will cause unemployment, do you think it's because of robots? Well, no, It will be because of the inability of employees to fulfill tasks with ease and in less time. A threat to jobs has increased fear, anger, and depression among the employees. But the fact is, jobs won't just disappear completely instead there will be more jobs by 2020. If we go into the figures, there were 2 million more jobs while eliminating 1.5 million jobs. 

The sectors where we will see the spike in the number of jobs are healthcare, manufacturing, education. There is no doubt that AI will ease the work of employees. Though there will be the loss of employment, the new jobs will also be created which doesn't exist yet. There will be such jobs in the future which we cannot even imagine today but those will be related to artificial intelligence. 

"We cannot deny the fact that humans are the ones that contribute to the economy, not the robots."

ALSO READ: 5 Best Artificial Intelligence Tools

In this growing era of technology, the growth of AI is increasing but still, there are sectors which need more improvement and for that, there is a need for more employees. So this will in return makes more and more jobs. All countries should come together and work for a better future by using AI in the right place. 

"Artificial Intelligence should be seen as the opportunity for the new jobs and not as the threat."

Mike Rollings, once said that AI will take on repetitive and mundane tasks which will help humans a lot, but the symbiosis of humans with AI will be more nuanced and will require reinvestment and reinvention instead of simply automating existing practices," 

The Robots and the growth of artificial intelligence is eventually the blessing in disguise for every people in this world. 

Ethereum App Development Company India

If you are looking for a progressive and high-octane Ethereum App Development Company, you are indubitably at the right place. Oodles Technologies provides customized and robust Blockchain Development Services that are sure to fulfill the requirements of your crypto projects.

Ethereum is a public, open-source, and blockchain-based distributed software platform that facilitates the seamless development of Smart Contracts and Decentralized Applications (DApps). The highly adaptive framework nullifies the possibility of downtime, fraud, censorship or any third-party indulgence and facilitates the applications to function exactly the way they are programmed.

The Ethereum-powered apps run on a custom-built blockchain- a massively powerful and shared global infrastructure that can be used for almost any purpose, from distributing fresh music to documenting complex financial transactions. There is no full stop to the creativity the Ethereum permits in the supported apps.

What are the features of Ethereum Apps?

• Faster block time
• Automation at low-to-no Cost
• Reliable Operations
• Gas transactions
• Autonomous Executions

Wish to know how our Ethereum App Developers can streamline your business? Let’s join hands together.

What Are The Other Blockchain Solutions That We Offer?

• Blockchain App Development Services
• Decentralized Application Development Services
• Bitcoin Application Development Services
• Secure Cryptocurrency Applications Development
• Blockchain Wallet Development
• Cryptocurrency development services
• Blockchain Technology Services
• Cryptocurrency Exchange Platform
• Smart Contract Development
• Altcoin Creation Service
• Initial Coin Offerings (ICOs)

Why Choose Us As Your Ethereum App Development Company?

Oodles Technologies is a leading Blockchain based app development company in India with an unparalleled expertise in the said niche. We boast a seasoned team of Ethereum App Developers and Blockchain professionals having an extensive knowledge of the Crypto-based platforms. Over the years, we have gained a strong foothold in devising decentralized applications, wallets, smart contracts, and cryptocurrency exchange that fills the gap of client's requirements and fulfills their criteria. Get a full spectrum of the Ethereum platform with us and increase your business productivity using our Blockchain app development services.

Nevertheless, we follow a full 360 degrees approach in our solutions and offer post-launch support & assistance to the companies around the globe.

Impact of Drug Pricing with 3 Breakthrough Technologies

Identifying a promising drug, its development, clinical trial, and its commercialization is a herculean task indeed. It takes years together and a huge amount of investment for a single drug to make available in the market.

Artificial Intelligence, Blockchain, and Big Data together influences the drug development process, its delivery, and thus cuts down the drug pricing.

Let us investigate how.

Blockchain, Big Data, and Artificial Intelligence are the three buzzwords in the techno-town creating revolution with a promising future in almost all industries invariably.

The pharmaceutical industry is one, where the advances in technology would help to add value to the drug supply chain, research, cost cuttings, personalized patient treatment, and, etc.

Before that, let us understand why medicines and drugs are costly?

Pharmaceutical companies readily invest billions of dollars in drugs. And, bringing these medications to the market and patients also entails the cost.

Further, the cost of drug development is also increasing the scale. It is noted that the average time for a drug to be developed and released into the market is about 15 years. The identification of a promising drug is challenging which engulfs about 4-5 years, and the remaining years for clinical trials and commercialization. Evidently, the R&D cost and commercialized molecular entities in a year do not match at all.

Moreover, the supply chains are insecure and complex, making the things further complicated. The ecosystem comprises a network of suppliers and logisticians. And, safety must be ensured by adhering to strict regulations and practices to avoid drug contamination.

Henceforth, the companies invest in RFID [Radio frequency identification], chromatography, holographic labels, and, so forth.

Unfortunately and obviously, the costs are passed on to the consumers. At this juncture, the implementation of advanced technologies holds a promising future in cutting the costs and bring down the drug prices.

Blockchain in Pharmacy:

• Blockchain has the ability to provide a decentralized, transparent, and immutable record keeping for tracing the drugs across the supply chain. A secure and trackable supply chain leads to fewer chances of counterfeiting, cut down the associated costs, and thus safer and cheaper medicine.
• It serves as a platform to share electronic health records between the organizations and research center, which speeds up the drug development process.
• It also helps in the speedier medical billing process.

Also Read: Role of Blockchain in Supply Chain Management

Big Data in Pharmacy:

• The data collected through clinical trials are easily received by the researchers and managed for further contribution in the research at the earliest phase.
• With the help of “smart contract”, the researchers are able to collect real-time data during a patient treatment.
• The patients receive payment for participation in the research.
• Big data is also used to reveal drug abuse, analyze patient’s prescription refill frequency, and any other user-related data.  
• The data capture at all stages influences the efficiency of drug development which cuts down the drug development cost.

Artificial Intelligence in Pharmacy:

It is stated that “Orion Health's Amadeus Intelligence will use machine learning models initially to predict patient costs and readmission risks, analyze clinical and financial outliers and enable accurate diagnosis coding and quality metric reporting to improve decision making at the point of care and target resources which will result in significant cost savings."

Artificial Intelligence is able to learn and discover the things at a faster rate and this knowledge could be utilized in the drug development process.

The AI programs have a marvelous increasing capacity to analyze the big data, identify the patterns, and generate the algorithms. These programs help the researchers to generate the hypotheses at a faster rate and make the drug discovery process effective and less expensive.

“One of the most widespread uses is for repurposing drugs — finding new uses for existing drugs or late-stage drug candidates. “You don’t have to repeat all the phase I testing and all the toxicology testing when you take it into another phase II trial [for] a different indication, so you can accelerate the process of medicine development quite dramatically,” explains Jackie Hunter, chief executive officer of Benevolent AI, Europe’s largest AI start-up to date.

In addition, AI analyzes the database of the electronic medical records, public health data to identify the hidden patterns leading to the potentiality of the molecular targets for a disease.

In brief, applying AI algorithms would help the researchers to quicken the drug development process influenced by the availability of clinical trial results, repurposing of drugs, and market penetration.

Key Takeaways from the Discussion:

Currently, more than 100 companies including Amazon, Google, IBM Watson and other tech-giants are investing in AI algorithms successfully.

By witnessing the advances in the varied industries, there is no doubt that these 3 breakthrough technologies would hold a promising future in cutting down the costs of the drug and make it available for all the needed patients at an economic rate leading to a better health and survival.

A simple cutline in the timeline of drug research, production and its delivery influenced by the advanced technologies wins the show and brings cost-effective medical care.