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Top 4 IoT Trends That Drive Smart Manufacturing

Internet of Things (IoT) is set to transform the way the manufacturing industry operates and functions. Smart manufacturing or advanced manufacturing technology is driving the companies to transform the competitive market landscape. Thus, making it inevitable for the companies to adopt smart manufacturing and seize the benefits it has to offer. Smart manufacturing coupled with IoT enabled devices is an aIR_Brochuremalgamation of information, human interface, and technology that helps evolve and develop every aspect of the business. IoT is an interconnected network of devices driven by connectivity and software that has brought the fourth industrial revolution – Industry 4.0.

Trend 1: Industrial Internet of Things (IIoT)

IIoT is the process of using IoT enabled devices and integrating it within the manufacturing processes on the factory floors leading to an increase in production efficiency, product quality, and speed. Purely built on connectivity, IIoT enables people and facilitates business processes to collect vast amounts of data and leverage advanced analytics to gain insights.

Trend 2: Cloud-Computing Technology

With the help of cloud computing coupled with IIoT, companies can reap the benefit of sharing important and critical information in real-time. The data shared from beacons and sensors help organizations to anticipate needs and predict trends, obtain required inventory details, and minimize turnaround time for machines as well as the suppliers and manufacturers.

Trend 3: Artificial Intelligence

Thanks to big data, vast amounts of information is available to the organizations, which can be leveraged to gain consumer insights, predict trends, and foresee market developments. With the help of machine learning, artificial intelligence helps organizations understand patterns, anticipate information, and track incongruities, which helps them to refine processes, enhance productivity, and adopt smart manufacturing techniques.

Trend 4: Smart Sensors and Beacons

The organizations can benefit with the help of IoT enabled sensors that will help them to record, generate, and understand information right from packaging to the core machine elements. Besides these, the IoT enabled sensors help the manufacturing industry to measure and track everything, right from volume to temperature; thereby, creating seamless information flow to facilitate automation and drive smart manufacturing.

 

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Machine Learning and how it can Enhance the Human Resources Function

Machine learning has been widely utilized by various industries such as oil and gas, retail, banking, and cybersecurity. However, the human resources sector has been slow to adopt this game-changing technology. Similar to Amazon’s Alexa transforming people’s lives at home, AI and machine learning have also evolved into an intelligent assistant to help the professionals work smarter. It has been evident that people have very high expectations out of new technologies, making it essential to keep up with the new trends and developments in respect to machine learning applications in human resources. Here are some of the possible application areas of machine learning that can assist the HR function.IR_Brochure

Hiring Process
The biggest nightmare facing the HR department is the mountain of resumes they have to scan through to not only shortlist the suitable candidates but also go through the grueling task of reviewing resumes individually to select the right candidates. Additionally, many candidates don’t turn out to be the right ones for them due to reasons such as performance issue, job-fitment issue, and behavioral issues. However, machine learning can improve this process by creating patterns from applicants resumes, social media activity, and interview responses. It should also be noted that patterns and tendencies could sometimes be a false-positive, but with machines learning constantly from their mistakes, the success rate of hiring decisions will increase.

Employee Attrition
Industries such as banking and hospitality have been troubled with high employee attrition rates with a turnover of around 20%. Companies not only lose their best talents but also have to spend a significant amount in the subsequent hiring process. Machine learning can be put to use in identifying early warning signs of employee attrition by monitoring employee satisfaction survey results, drops in efficiency, and absenteeism.

Employee Engagement
Although employee engagement seems like a human-to-human practice, smart use of machine learning can certainly help to identify trends that can drive employee satisfaction. Machine learning systems can assist the human resources department in analyzing each engagement campaigns and making them efficient in the future. This, in turn, ensures employee retention and satisfaction in the longer run.

To know more about how your organization can use machine learning to improve the human resources functions:

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IR3

The Role of Employer Branding in Acquiring the Right Talent

Companies are finding it increasingly difficult to find and retain the best talents to drive their organizational growth. A majority of the HR professionals report face difficulties in acquiring talent and retaining them even with the best of pay and perks. It’s already time for companies to look towards employer branding to compete effectively in this fight for finding and retaining the best talent. A prospective employee is more conscious towards employer brand reputation as opposed to a general corporate brand. The top companies have realized this and have adopted the practice of treating employer branding equally as their corporate brands by creating employer brand guidelines and employee value proposition.IR_Brochure

Here are some of the reason why companies should look to strengthen their employer brand:

Makeup for Lower Remuneration
It is evident that smaller companies with lower budgets can’t compete with giant corporations in terms of providing a lucrative salary package. However, pay scale is not the only consideration for prospective employees while choosing a company. A strong and appealing employer brand can influence them to compromise on the monetary aspect to settle for benefits like flexible working hours, better work-life balance, working culture, and other perks. On the contrary, a company with a bad reputation has to pay higher salaries for new hires.

Employee Retention
When an employer brand is consistent with its communication towards their employees, the employees will know what exactly to expect from the organization. Setting unrealistic expectations or not being honest throughout the hiring process may confuse or mislead the employees. This can demotivate the employees in the future, leading to increased employee churn rate. A consistent employer brand image will ensure employee retention and drive employee satisfaction.

Facilitate the Hiring Process
These days, due to rising popularity of social media and sites like LinkedIn and Glassdoor, employees can hugely influence the employer brand. A positive review on Glassdoor can influence candidates to apply for the job in that particular company. This way, companies can get a higher amount of applications, enabling them to choose from a larger talent pool. On the other hand, a bad review can put off skilled candidates from applying for the job.

To know more about how you can create a positive employer brand and help attract the right candidates to your organization:

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IR34

What’s the Future Like for Wearable Fitness Trackers?

Even a decade back, it would be impossible for people to comprehend that a computer worn on the wrist could track your steps, heartbeat, body temperature, calorie burn, and sleep; and yet, here we are. The fitness enthusiasts and early adopters were skeptical on the accuracy, form, and function of a wearable fitness tracker; but at present, the IR_Brochureusage of such devices is trending across the general population as well. Numerous successful Kickstarter campaigns have justified the promising future for wearable fitness trackers with innovations regarding form and function. So, what does the future for a fitness tracker look like? Let’s explore the future trends:

Advancements in Sensor Technology

What started as a basic step counter, has now evolved into a device that can monitor heartbeat, sleep patterns, calories, and body temperature. The wearables of the future promises much more by providing advanced health statistics and measure sophisticated health indicators. Apart from the usual advancement in the battery life, form, and function, researchers are working on devices that can track biometrics data that includes monitoring hydration, blood sugar, and other health indicators.

Widespread Use in Sports Analytics

Sports coaches around the world are relying on wearable fitness trackers to provide extensive player-related data. Analyzing data such as distance covered, speed, acceleration, form, movement, and limb coordination can differentiate your best players from the average ones. In addition to that, the data can also be used to make necessary changes to the training regime to optimize performance.

A New Promotional Medium

The number of people spending time on traditional media such as TV, print, and radio is dwindling. The continuous trend of people spending time on mobile mediums gives an opportunity for brands to push their marketing message through wearable devices. It would be hard to ignore promotions that are broadcasted on a device that is visible from an arm’s length.

Early Detection

A futuristic wearable fitness tracker equipped with machine learning abilities would be able to assess user health data and identify anomalies to detect certain medical emergencies. For instance, the iBeat fitness tracker can detect irregularities in heartbeats to identify signals of an heart attack and connect to emergency contacts. Also, with innovations in technologies, a fitness tracker will also be able to detect signs of fever, changes in blood pressure, and blood chemistry.

A fitness tracker can aid users in many ways. Get more insights here:

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IR3

Top 3 Emerging Healthcare Industry Trends

The recent ACA Vs. AHCA debate, reimbursement issues, and the growth of the medical device manufacturing industry have given rise to the emerging healthcare industry trends that are set to revolutionize the global market space. The upward swing in the global healthcare industry makes it essential for the IR_Brochurehealthcare service providers, payers, and patients to stay abreast of the latest healthcare industry trends. The recent transformation of the healthcare industry is the result of the technological and medical advances, new payment models and structures, and the presence of a dynamic regulatory landscape. What are the emerging healthcare industry trends, you ask? Scroll down.

Healthcare Industry Trends: Rise of Patient Centric Care

With integrated healthcare service delivery models, the industry is moving towards patient centric health care systems. Globally, the heightened consumer awareness level as a result of the growing internet penetration and access to information has paved the way for emerging patient centric health care models and systems. The patients are also demanding quality services at affordable prices and have accepted greater accountability for their health-related issues. As a result, this trend has democratized and decentralized the global healthcare sector across the world with new products and delivery systems.

Healthcare Industry Trends: Adoption of Advanced Analytics

In their quest to optimize their human resources, the players in the healthcare sector are adopting advanced analytics and technological solutions to minimize costs and enhance quality. By leveraging advanced analytics, the healthcare service providers can gain actionable insights into the patient’s journey and medical flows, which allow for better patient care. As a result, the health systems achieve greater value and improved outcome of the clinical health services with the help of advanced analytics, strategic analysis, and predictive analytics.

Healthcare Industry Trends: Public-Private Sector Partnerships

The change in the customer demographic has led to a collaboration between the public and private healthcare sector, which, in turn, is transforming the healthcare finance and service delivery landscape. Organizations in the healthcare industry are developing new market entry strategies and collaborating with other industries such as telecom and retail to reshape the global market space. The rising middle-class population and technological advancements across the globe have fueled the demand for more healthcare services and products.

 

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