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Ransomware attacks and protection tips

Ransomware attacks and protection tips
Ransomware attacks and protection tips

Ransomware is a type of computer virus that encrypts then locks data or structures, averting the user from retrieving them. By encrypting records besides systems, it grasps them hostage. After paying the ransom, the victim receives the decryption key, allowing him to access the locked data or systems (showing in Fig 1).

Ransomware has worried individuals and, more importantly, companies for more than 30 years. Worse, they’ve developed over time into more advanced and sophisticated threats [1][2]. Ransomware is one of the most serious threats in the digital world, according to the FBI and Europol. Certainly, the European agency claims that ransomware has been a major cybercrime concern for some years. According to the US government, there were around 2,474 ransomware attacks worldwide in 2020, resulting in losses of more than USD 29 million.

Ransomware attacks and protection tips
How Ransomware Works

The technology link with the customer, email system, and the technology connection with the providers are the three main entrance points where ransomware may disrupt the business operations. We have a direct access point to ransomware assaults through the consumers if we have customer-facing web servers for the e-commerce or VPN. Second, ransomware may be delivered by spam emails containing Word or Excel attachments, or via RDP brute force assaults. Third, owing to their lack of attentiveness, certain companies in the supply chain may find themselves unable to provide or fully reconcile with us, as a result of a ransomware assault on their systems [3].

Groundbreaking Ransomware Attacks  : There are quite a lot of ransomware attacks that took place earlier this year [4]. Some of these are;

CNA : On March 21, a ransomware assault targeted one of the country’s largest insurance companies, triggering a network outage. CNA called it a “sophisticated cyberattack” in a statement on its website, and said it took “rapid action by proactively disconnecting systems” from the CNA network out of an abundance of caution.

Applus : Applus Technologies, which offers testing equipment to state vehicle inspection stations, was hit by ransomware at the end of March, causing its systems to be down for weeks. Inspection services were brought offline in a number of states as a result of the attack.

Colonial Pipeline : DarkSide, the hacking gang that hacked Colonial Pipeline, also targeted Brenntag, a chemical distribution firm, around the same time in early May 2021. DarkSide sought the equivalent of $7.5 million in bitcoin after obtaining 150 GB of data. Brenntag eventually gave in to the demands and paid $4.4 million. Despite being less than half of the initial demand, it remains one of the largest ransomware payments in history.

Acer : In May of this year, the Revile hacking gang, which was also responsible for an attack on London foreign exchange business Travelex, targeted the computer maker Acer. The ransom of $50 million was the greatest known to date. To get access to Acer’s information, malicious hackers exploited a weakness in a Microsoft Exchange server, leaking photos of crucial financial papers and spreadsheets.

NBA : Ransomware attacks target businesses and organizations across a wide range of industries. The National Basketball Association was one of the more surprise entries on the list this year (NBA). The hacking organization Babuk claimed to have obtained 500 GB of secret data about the Houston Rockets in mid-April of this year. If their demands were not granted, Babuk stated that these sensitive records, including financial information and contracts, would be made public. No ransom payments have been made as of this writing.

New generation product solution : Traditional antivirus software is elevated to a new, sophisticated degree of endpoint security protection with Next-Generation Antivirus [5][6]. Neridio is a new generation of anti-ransomware software, providing tips to be prevented from the Ransome attack showing in Fig 2.

Ransomware attacks and protection tips
Ransomware Protection

This new-generation anti-ransomware is a system-centric, cloud-based approach, it drives out there established file-created malware signatures besides heuristics. It blends threat intelligence with predictive analytics powered by machine learning and artificial intelligence to:

  • Malware and file less non-malware assaults are detected and prevented.
  • Unknown sources of malicious activity and TTPs should be identified.
  • To uncover fundamental causes, collect and evaluate detailed endpoint data.
  • Respond to previously unnoticed new and developing dangers.

Conclusion : Ransomware assaults exist in a variety of sizes and shapes, and they take many different forms. The attack vector has an impact on the type of ransomware used. When calculating the scale and breadth of an attack, it’s critical to keep in mind what’s at stake or what data may be wiped or disclosed. Regardless of the type of ransomware, backing up data and correctly deploying security measures may significantly reduce the severity of an attack.

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OPPORTUNITIES WITH META

OPPORTUNITIES WITH META
OPPORTUNITIES WITH META

With the Facebook rebranding to META, a new horizon of technology has taken over the world. With its introduction, META has brought tons of opportunities in almost all fields. Meta is just a representation of “Metaverse” where physical limits of the world are stretched to a whole new level of virtuality and everything becomes abstract. META surely has influenced and will continue to influence the thinking and mentality of people in today’s world. Following are the most significant opportunities to get into metaverse in its initial stage.

The creation of Meta has flooded the market with job opportunities in every field. It is estimated that Facebook alone would create 10,000 new job positions along with other companies like IMB, Microsoft to generate even more opportunities. It can be easily said that Meta will act as a launchpad for the growth of people who are highly determined to achieve big in their lives.

Since it is in the developmental phase, it is prime time for the developers to get along with META to work on the development of the virtual space and get the most of it. Programmers are the ones building the foundation of metaverse so developers must adapt to this new technology and build their skills accordingly.

Games, yes you heard it right, are the new cool thing in the world of the metaverse. Metaverse is a virtual world that can be considered as an escape from the real world and people tend to seek joy and happiness in it. Games and the development of games are extremely vital for survival in the metaverse. For this very reason, gaming giants like Rockstar and Ubisoft have already started working on this prospect speedily.

META has given an exponential boost to the growth of cryptocurrency. With the digital world, metaverse, taking over in a decade or so, the use case of digital currency has strengthened to a level that it is getting acceptance in the real world as well. With the rebrand of META, it has launched its coin for trading in the digital world. An overall boost of around 300% is seen in in-game coins like MANA, SAND etc.

The idea of metaverse has increased the value of digital assets like NFTs manifold. Non-Fungible Tokens, commonly known as NFTs, are digital assets of which the owner has all the legal and trademark rights in the digital world. Every NFT has a specific code that shows its ownership.

The prospect and actual potential of the metaverse is still unknown as it has not been analyzed completely and can’t be determined until its launch but it can be easily said that Metaverse will functionally act the same as the real world where people will trade assets, properties, celebrate festivals, open superstores, create and play games, and much more. Who knows what else will come along during the development of metaverse but it has for sure given us a lot of opportunities and shown us a world we always believed impossible to achieve.

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SAP Fiori Analytics for S/4 HANA

SAP Fiori Analytics for S/4 HANA
SAP Fiori Analytics for S/4 HANA

Analytics is used extensively today. Main purpose of analytics is to keep you updated with real-time information about your business operations. Organizations are taking steps to implement analytics into its arsenal to ease the process.

The same can be said for SAP, known best for their different types of Cloud editions. Their HANA business suite includes a very powerful SAP Fiori Analytics app. If you are unfamiliar with it, no need to worry. Here’s all you know about the SAP Fiori Analytics application!

SAP Fiori Analytics Application – A Quick Dive

  • What is SAP Fiori Analytics App?

The SAP Fiori Analytics app is used to monitor your business’ important KPIs. This is the real-time information that you need to make better decisions for your organization. The application offers you complete customization with a variety of useful tools. Thanks to SAP, you get 15 analytics applications.

The Analytics app can only execute on SAP HANA databases. It distinguishes itself from other applications that can run on any database. The SAP Fiori leverages the XS engine by using virtual data models. It works on the following two components:

o  SMART business content

o  HANA Live APPS for Business Suite

  •  Features of SAP Fiori Analytics Application

Following are the tools and features that you can use with the SAP Fiori Analytics application:

1. Customizable Fields

Many such applications allow you to add custom fields and logic into the mix. However, SAP Fiori Analytics has User Extensibility tools that take this feature to the next level. You can add new fields to applications and objects. Moreover, you can customize the ones that are already present in the source table.

2. Custom Analytical Queries

The SAP application includes CDS views. They belong to the “cube” category, which is solely released for customer usage. It is used as a fully customizable data source. You can also publish it as a variant.

Creating a query is also comparatively easier in the SAP Fiori Analytics application.

3. Smart Business KPIs

If you want to upscale your business, you will need better strategies. For better planning, you will need more accurate information. You can only get that with an analytics application, which offers the most efficient information.

With precise metrics, you can strategize better and set goals for your organization. The concept of smart KPIs refers to all the tools that offer you a clearer view of your business operations.

4. Analytical List Report

The Analytical List Report (ALP) allows you to identify specific areas within datasets. This can be used for data visualization when upscaling your business or creating a strategy. Luckily, all of these business intelligence options are available with the SAP Fiori Analytics application, giving it a significant upper hand.

Conclusion

When choosing any application, it is best to know it’s in and outs. This way, you can get a better grip on it and use it for advanced operations. As for SAP Fiori Analytics, we have covered all its essential details in this article that you should know before getting started.

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Intelligent Automation in Banking

Intelligent automation
Intelligent automation

Intelligent automation (IA) or Robotic process automation (RPA) is a comparatively new machine learning topic that is rapidly gaining prominence. It states to the usage of software robots or other cybernetic helpers that have been designed to do repetitive and time-consuming tasks.

Worldwide banks spend 6 -10% of their on compliance costs. Financial Industry spends $181B annually to maintain financial crime compliance. Since 2008 U.S banks are fined $243B due to non-compliance. IA can help a lot to decrease such fines and costs in Banking.

Robotics is defined in banking and finance to:

  • Decrease human intervention.
  • Improve process as per federal regulations.
  • Create a virtual assistant of artificial intelligence.

Banking Industry

               Fig 1

 In the banking business, RPA is a beneficial implement for addressing the banking sector’s (showing in Fig 1), persistent strains and assisting them in exploiting their efficiency via decreasing costs through the services concluded software paradigm. According to recent research, the financial services RPA business will be rate a stunning $2.9 billion in 2022, a huge rise beginning $250 million in 2016 [1].

 Banking Automation’s Power

Robotic process automation may be used by banks and finance organizations to lessen human labor, upsurge acquiescence, condense risk, besides progress the overall client involvement. Moreover, since no extra setup is obligatory, the low-code technique styles automation suitable for banks besides financial foundations. In the banking industry, RPA’s main purpose is to help with the processing of repeated banking procedures. RPA benefits banks and financial foundations rise productivity by fetching clients in real-time then taking use of robots’ for various benefits [2].

RPA is a complex process that involves substantial personnel training, organized inputs, and oversight. If set of connections and employed appropriately, these RPA-constructed banking robots may assume comprehensive control of the system actions, including ticking then starting programs, sending emails, and copying and thrashing information after one financial system to alternative [3].

RPA benefiting the Banking sectors

[Figure 2] depicts a number of distinct uses in this sector. Since then, RPA has been applied to a variety of business process automation ventures. We’ll go through a few of the advantages here:

RPA in Banking

Fig 2

1.    Reports are generated automatically

Suspicious activity reports, or SARs, are needed for banks and financial institutions to create compliance reports for fraudulent activities. Nonetheless, it’s a tedious procedure that takes a long time and effort to finish. RPA technology can trawl through this extensive compliance paperwork with natural language producing skills before extracting the essential data and submitting the SAR [4].

2.    On-boarding of new customers

In banks, customer on-boarding is a lengthy and drawn-out procedure. Several papers, in particular, need manual authentication. RPA can style the procedure informal by using optical character recognition to gather data from KYC documents. This data may formerly be compared to the data on condition that, by the client on the system. RPA automation in client on-boarding not solitary reduces manual mistakes but also hoards time as well as fortitude for employees.

3.    Anti-Money Laundering (AML) and Know Your Customer (KYC)

KYC besides AML are both tremendously data-concentrated procedures, making them perfect RPA candidates. When equated to outmoded banking resolutions, RPA adoption has proved to be helpful in terms of convertible together time and money, whether it’s automating regular operations or recognizing questionable financial transactions.

4.    Opening a bank account

The normally time-consuming process of creating a new account is made considerably easier, faster, and more precise with RPA. Automation eliminates data record faults that occur amid the main banking organization as well as new account opening requirements, boosting the information quality of the inclusive arrangement.

5.    Lending for mortgages

One of the most significant services provided by a financial organization is lending. Mortgage lending is an ideal candidate for RPA automation since it is a highly process-driven and time-consuming industry. RPA expertise may be utilized to handle processes with explicitly defined rules with ease.

6.   Loan Process

Traditionally, loan processing has been viewed as a time-consuming and wasteful process [5]. Despite the fact that the bank has computerized the procedure to some level, RPA has sped it up even more, bringing the processing time down to a new low of 10-15 minutes.

References :

1.      Kumar, K. N., & Balaramachandran, P. R. (2018). Robotic process automation-a study of the impact on customer experience in retail banking industry. Journal of Internet Banking and Commerce23(3), 1-27.

2.      Valgaeren, H. (2019). Robotic Process Automation in Financial and Accounting Processes in the Banking Sector.

3.      Romao, M., Costa, J., & Costa, C. J. (2019, June). Robotic process automation: A case study in the banking industry. In 2019 14th Iberian Conference on information systems and technologies (CISTI) (pp. 1-6). IEEE.

4.      Vishnu, S., Agochiya, V., & Palkar, R. (2017). Data-centered dependencies and opportunities for robotics process automation in banking. Journal of Financial Transformation45(1), 68-76.

5.      Devarajan, Y. (2018). A study of robotic process automation use cases today for tomorrow’s business. International Journal of Computer Techniques5(6), 12-18.

 

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S/4HANA Cloud vs On-Premise

SAP S4HANA

Choosing a Cloud suite for your business can be pretty challenging. Even more, when you are migrating and do not know much about the technology. You will find many websites and people giving you suggestions to choose this or that platform.

Among those suggestions, you will hear a lot about S/4HANA Cloud and On-Prim. Usually, people compare the two as they have some similarities. However, the differences between the two are vast. With that said, and with Tachyon’s expertise in HANA we want to take a deep dive comparison to give a better picture.

S/4HANA Cloud vs. On-Premise – A quick Guide

  • What is S/4HANA On-Premise?

The S/4HANA On-Premise Edition is an ERP business suite. It is based on the SAP HANA in-memory database that allows users to manage everything. That includes the applications, data centers, HANA database, networking, operating systems, servers, data centers, etc.

  • What is S/4HANA Cloud?

As the name suggests, it is a cloud edition of SAP S/4HANA, which works on SaaS (Software as a Service). It works the same as the on-premises version without depending on the hardware, IT staff, or database. You can offer the SAAS deployment with complete management, thanks to SAP.

  • Differences between S/4HANA Cloud vs. S/4HANA On-Premise
FeaturesS/4HANA On-PremiseS/4HANA Cloud
Licensing ModelThe On-Premise version requires traditional licensing.S/4HANA Cloud works with subscription-based licensing.
CustomizationWith on-premise, you have complete control as it is flexible and manageable.The Cloud version is customizable to some extent but comparatively lesser.
MaintenanceRequires control for deployment and maintenance with a professional IT staff.With the cloud version, you can easily take care of regular maintenance.
SpeedThe on-premise version is slower as it sets up a new environment for the user.The Cloud edition is faster as it uses a ready-made and pre-tested platform.
CostSince the On-premise edition is for enterprises, it is more costly.Cloud version is comparatively lower in cost.
ImplementationIt requires the need of additional hardware as well as software.You can use S/4HANA Cloud without needing any additional hardware or software.
IntegrationsYou get faster data transfer among the system as it allows simple integrations.Integrations in the Cloud Edition can be complex and involve security risks too.
UpgradesWith the on-premise version, you can expect more regular upgrades as the company makes it better and better.The Cloud edition has fewer upgrades but allows you to schedule them.
ScalabilityIf you want to scale up or down, you will find it much harder in the on-premises edition.The S/4HANA Cloud is easier and faster to meet the changing scalability of an organization.
Support PackagesAlthough not consistently, but the company does release new support packages for S/4HANA On-premises.You can choose from the wide range of support packages in the S/4HANA Cloud.

Conclusion
We have discussed the differences between the S/4HANA Cloud and S/4HANA On-premises in detail. It will help you decide which is the better option for your organization, considering your requirements.

Img src: Photo by bruce mars on Unsplash

#Tachyon #Tachyontechnologies #Tachyontech #SAP #SAPS/4 #S/4HANA #S4HANACLOUD

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2022: Time to get Back to office

Employees working in office

Getting the employees back to the office is the latest challenge to many organizations due to the COVID-19 era. Ever since the pandemic, every aspect has been changed and office standards aren’t an exception. And it is quite obvious that the employee expectations also won’t be the same, which makes things complex both for employees and the employers.

Now that organizations are hunting for the right solution to know how they can encourage their employees to return? But, whatever the strategies you choose to eventually bring your employees back into the office, the main objective is to keep and make them feel safe!

From Tachyon, we want to share a few guidelines and strategies that will help organizations to implement and communicate in a better way to build trust in their employees to get them back to the office as before.

Connect In-Person & Communicate Frequently:
No matter where employees work from, communication is key as a team. Few pieces of research state that employees miss the in-person interactions with their colleagues, since they started work from home. So, even staying in touch through video conferencing for office meetings has become normal, getting in person as a team will surely excite them. Interacting and sharing personal experiences of remote work with the team will give an opportunity to strengthen the bonds between colleagues.

So, organizations who are planning to get their employees back to the office should try various communication techniques, which help employees work efficiently and maximize the output. In addition, management should create a reliable flow of information from managers to the employees to build trust and enhance the work environment.

Make Safety A Priority:
It is quite obvious for employees to panic when they are asked to return to the office after the pandemic situation. But, it is the responsibility of organizations to make them feel safe by informing them about the safety measures that are being taken to make the office environment safe and healthy.

As every organization is different, one checklist doesn’t fit all. Hence management should understand their office structure first, and plan accordingly of what measures can be taken to ensure safety.
Some of the common safety measures for offices include:
● Installing plexiglass wherever needed to ensure social distancing
● Keeping hand sanitizers handy in the office locations
● Ensuring temperature checks at the entrance
● Rearranging the work stations to maintain ample space and feel comfortable
● Scheduling a cleaning session to maintain cleanliness

Offer Flexibility:
It is a fact that most of the employees are now preferring work from home, as it offers a great work-life balance. But if organizations are willing to get their employees back to the office, then there must be some compromise.

Because forcing employees to return to the office might result in forcing them out of your organization. In such cases, a hybrid model can be a great solution for getting employees to return to the office.

Here are some of the ways, how organizations can offer flexibility for their employees:
● Plan to split office days and remote days. Allow your employees to work from the office on certain days, while remote work on other days.
● Offer some flexibility in working hours to avoid getting stuck in traffic and enjoy more family time.
● Offer temporary remote work as a reward for the exceptional work of the employees We hope these strategies would help you to get your employees back to the office as they ensure safety and are easy to implement.

In fact, the above-mentioned strategies are followed and implemented by the Tachyon technologies which made their efforts in making work from office successful.

Also, we at Tachyon believe that it is quite challenging for organizations to make things as they were before the pandemic. But if the management wants to have a closer and interactive work culture, then it would be the right move that helps organizations to take things forward.

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Data Is The New Gold: How does it drive innovation in every business?

Data Is The New Gold

When data is recognized as the new gold, it’s not the matter of carrying the same allure of gold! Rather it is how the data holds its power in driving innovation to scale up the growth of businesses.

But, data isn’t powerful as soon as it is acquired. It should be manipulated and analyzed to extract valuable insights. And when the manipulated data accompanied with the insights are shared across various departments of the organization, right from the marketing team to customer service, and IT, it outlines the challenges and new opportunities to rise.

The statistics also prove that Marketing technology is the key area of investment among labor, paid media, and agencies. It accounts for a massive rise up to 29% from the marketing budget of 22% in 2017. In addition, many organizations are recruiting for a special position known as “Chief Data Officer (CDO) to get the best out of the data collected. Business experts predict that almost 90% of enterprises will have a CDO in place very soon to lead the charge. And according to the CMO Council, 56% of Chief Marketing Officers stated that prioritizing the data and intelligence analysis is one of the top skills essential to achieve business growth through delivering the outstanding and personalized experience to the customers who add value to their business.

How does data impact business growth?

Though data has a shorter history than gold, it can have a greater impact on global businesses irrespective of their sizes and domains. In the ever-evolving world of technology that advances at a lightning speed, digitization has become an integral part of every business. And those who embrace it in their operational models will reap the rewards and ensure the long-lasting well-being of their business.

It is evident that digitization has changed the face of business with greater productivity and increased efficiency. It has made the world more interconnected than ever before and makes the global community feel local on the scale. In this digital world, every click, like, and share on the internet creates new data, which contributes to business growth when combined with the right strategy. And in today’s data-driven world, every business needs to realize how the strategic use
of data benefits their growth. Here are a few points, which makes businesses
understand the importance of data:

● It streamlines the internal processes
● Enables timely and effective communication with the potential customers
● Helps to make out the right marketing strategy with relevant information
● Drives to Identify the needs of customers and thus increases the value to the
audience
● Brings down the efforts and reduces the operating costs
● Creates a customer base and presents the management with a clear picture of
challenges and new opportunities.

Why does the quality of the data matter the most?

To create reliable business models and insights, high-quality data is the most essential aspect. And businesses need experts, advanced technologies, and the right skills to extract the insights in order to make smart use of the acquired data. Also, everyone should realize that, no matter how good is their business model, it cannot be impactful if the data is either incomplete, inaccurate, outdated, or biased.

It is proven by many global companies that high-quality data is highly powerful and how it impacted business growth when implemented with the right strategies. To be precise, Google, Amazon, Facebook are the top most examples which aimed at collecting data and using it to outperform their competitors. But, while it is crucial to collect the data, it is equally important to analyze and protect it for the future.

Conclusion:

By now, we hope you have understood why the world recognizes the “Data As New Gold”! But, what matters the most for businesses isn’t how huge the data is, but the insights that are extracted by analyzing it. So remember, it is not the big data, but the big insights from the data are the new gold.

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AI is Everywhere

AI Tachyon

AI is evolving in all industries, but it is still difficult to determine what it will do in the future. There are so many possibilities with artificial intelligence, and it is only  a matter of time before we see AI go mainstream. There are so many people who have predicted that AI will take over the world by 2050.

1. Artificial Intelligence for Businesses

Artificial Intelligence (AI) is the most trending topic in the global business world.
AI-powered software is being developed to automate a number of tasks for businesses. It includes data mining, records management, customer service and more. With AI, it saves time and money for a company.

2. Artificial Intelligence for programming

Artificial intelligence is already evolved multi fold since OpenAI developed a AI coding tool. Today we have multiple tools to help developers in writing code. Below are few of these tools with use cases:

Copilot by Github – An AI bot to guess your requirement and write the rest of code.
CodeQL by De Moor – To identify bugs in code
Bayou – To write Snippet and API code in JAVA
Deepcode – This AI suggests programmers on how to improve the code
Kite – An AI based tool to complete python programming
in the time this blog is written a new AI tool will be developed. AI tools are getting better.

3. Artificial Intelligence for Education

AI in education is a new and upcoming field with a lot of potential. It can help students by providing a personalized learning experience, but it can also be used to help teachers prepare lessons and manage their workload. AI in education is an opportunity for all stakeholders – teachers, students, parents, researchers.

4. Artificial Intelligence for Healthcare

AI is impacting healthcare in a variety of ways. One of the most notable ways that AI is impacting healthcare is through the artificial intelligence for diagnosis. Doctors can use AI to take a picture or scan for abnormalities and then recommend treatment options.

There are many different use cases of Artificial Intelligence for Healthcare. In addition to diagnosis, AI can be used to supplement patient care by providing digital wellness programs and virtual coaching – which helps patients better manage their own conditions. It can also assist doctors in making more accurate predictions about patients, as well as improving research and development by scouring through masses of data and providing insights into new treatments.

5. Artificial Intelligence for Manufacturing

For manufacturers, artificial intelligence is an essential tool for making better decisions about their operations. It helps the company make smarter decisions, improves their efficiency and automatically predicts risks to maintain quality.
Manufacturers use AI to ensure that their product quality is up to date with the latest trends in the market. AI can be used to improve production processes by integrating data from across various departments and then making predictions about future demand for products.

AI has also improved customer service by predicting customer behavior and providing personalized solutions to them which are not always possible for human managers without AI assistance.

6. Artificial Intelligence Gaming & Entertainment Industry
The artificial intelligence gaming and entertainment industry is showing rapid growth. This market is predicted to grow from $17 billion in 2016 to $34 billion by 2020.

The surge in the use of AI in this industry is mainly due to the increasing demand for real-time gaming, interactive games, personalized gaming, customer-facing chatbots, machine learning algorithms, and natural language processing software.
A significant driver of the demand for artificial intelligence technology in this industry has been the need for more personalized games with greater levels of interactivity.

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