2023 is seeing Small and Medium Businesses thrive; the most significant contributor seems to be adopting the latest technologies. These emerging technologies enhance efficiency, customer engagement, and more. By integrating these technologies into software applications, businesses easily automate routine tasks, optimize operations, and make data-driven decisions. Some of the latest technologies that are transforming the way an enterprise functions are:

Artificial Intelligence (AI) and Machine Learning

Intelligent computers, objects( IoT), and tools equipped with Machine learning techniques are a boon to modern man. Machines imparted with artificial intelligence help businesses undergo digital transformation, reinvent customer experiences, optimize operations, and make data-driven decisions. AI software development further reduces staff requirements, thus saving organizations time and money.

Chatbots and Virtual Assistants

Chatbots and virtual assistants help growing businesses handle more customer inquiries, assist with online shopping, and provide 24/7 support, improving customer service without needing to employ extra personnel.

Blockchain

Distributed ledger, more commonly known as Blockchain technology, is proving to be another great asset for SMEs. Decentralized transactions provide extra security to applications owned by enterprises at no extra cost. Blockchain technology enhances transparency and security in financial transactions, supply chain management, and data sharing.

5G Technology

5G technology is another digital revolution that is bound to benefit the SMBs to a large extent. The rollout of 5G networks has enabled faster and more reliable internet connections, encouraging seamless communication, IoT devices, and real-time data processing.

IoT (Internet of Things)

IoT, or the Internet of Things, refers to the collective network of connected devices and technology communicating within themselves. IoT is extremely popular these days. From Smartwatches to Smart cars and household appliances, many intangible objects are connected via the internet today. SMBs can leverage IoT for inventory management, remote monitoring, predictive maintenance, and creating innovative products/services.

Edge Computing

Edge computing is another trend that is bound to help SMBs grow. Edge computing is a distributed computing methodology that aligns computation processes and data storage to keep them closer to the data sources. This further improves response times and saves bandwidth, improving data delivery on all fronts. It further reduces latency and enables real-time analytics for AR/VR applications, robotics, and IoT.

Cybersecurity Solutions

With more and more businesses undergoing digital transformation, the threat of cyberattacks has only increased. This is why SMBs can benefit greatly from advanced cybersecurity solutions provided by AI-driven threat detection and zero-trust security models.

Cloud Computing

Cloud Computing may as well be the greatest gift technology has given to mankind. Cloud computing is a recent technology that ensures on-demand availability of resources, data storage, and computing power by hosting everything on the cloud which is accessed via the internet.

Besides being cost-effective solutions, Cloud services are extremely scalable and reliable solutions for storage, data analytics, software development, and remote work collaboration. SMBs can benefit significantly from these advantages.

Augmented Reality (AR) and Virtual Reality (VR)

Augmented and Virtual Reality adds digital elements to our surroundings and is quite a viral trend amongst users, gamers, and enterprises. AR and VR can enhance customer engagement through immersive experiences, training simulations, and product demonstrations.AR/VR helps enterprises help their clients visualize products better without spending on physical mockups, demos, and products.

Robotic Process Automation (RPA)

RPA is software technology that allows robots to emulate human action with the help of a set of instructions in preprogrammed software. RPA not only brings out digital transformation for the business that employs it but also takes care of repetitive menial tasks that take up extra manpower. The technology also helps streamline workflows and improve operational efficiency.

Biometric Authentication

As the name suggests, Biometric authentication is a cybersecurity process that authenticates and allows access only when the unique biological traits of each individual are verified. This type of authentication is way more secure than traditional forms of multi-factor authentication.
SMBs can implement these to enhance security and user experience with biometric authentication methods like fingerprint scanning, facial recognition, or voice recognition.

Collaboration Tools

The new-age collaboration platforms are all worth the hype. Examples of digital collaboration tools include ProofHub, Filestage, GanttPRO, Nuclino, Basecamp, Asana, etc. Small and Medium-sized enterprises can invest in these platforms to facilitate remote work, communication, and project management at a fraction of the cost.
The choice of technologies that will benefit different SMBs also depends on the industries they belong to, business goals, and resources they have access to. It is also essential to assess your business needs carefully and consider how these emerging technologies can be integrated into your operations to drive growth and competitiveness.

Benefits of using emergent technologies for small businesses

Small businesses have a variety of technologies to choose from when it comes to digital transformation. Each emerging technology future proves these businesses in many ways.
A few advantages of using the latest technologies by SMBs are:

Improved Efficiency: New tech automates repetitive tasks and streamlines processes while mitigating risks. This boosts employees’ efficiency and helps organizations focus on higher-value tasks, ultimately increasing productivity.

Cost Savings: Even though implementing these emergent technologies can be pricey, businesses can expect a higher ROI in the long run. Reduced labor costs and operational expenses further help organizations save huge amounts of resources, money, and manpower.

Enhanced Customer Experience: By providing hyper-personalization to customers, SMBs elevate their customer experiences, which helps them stay ahead of the competition. Customers are bound to remember a brand that offers unique, unforgettable interaction experiences. Chatbots and social media platforms further help design and promote a brand identity.

Competitive Advantage: Incorporating the latest technologies helps SMBs up their brand game. It allows them to offer innovative products and services, adapt to changing markets and offer innovative products or services. This, in turn, helps gain newfound businesses and SMBs gain a competitive advantage.

Data-Driven Decision-Making: SMBs gain crucial insights and information from cutting-edge analytics technologies and data-collecting techniques. Making educated decisions, spotting market trends, and optimizing development plans are benefits of emergent technologies.

Flexibility and Scalability: Software Development services like cloud computing and SaaS provide flexibility and scalability by making it easy to modify IT infrastructure and applications to meet evolving business demands.

Remote Work Capabilities: SMBs can easily accommodate remote work using cloud-based collaboration tools, video conferencing, and project management software. These tools simplify recruiting and retaining employees and adjusting to changing work conditions.

Improved Marketing and Customer Outreach: As mentioned earlier, digital marketing tools and social media platforms assist SMBs in reaching wider audiences, targeting specific demographics, and measuring the effectiveness of their marketing campaigns.

Innovation and Adaptation: Staying current with the latest technology trends imbibes and encourages organizations to innovate and adapt. SMBs who adapt to emerging market demands explore new business models more easily.

Conclusion

By understanding the latest technologies, SMBs unlock growth opportunities and provide personalized customer experiences, ultimately positioning themselves for long-term success in instantaneously evolving business markets. Once a business implements the latest technologies, the next step is to pick the right development partner. Many companies’ software development services include AI software development, IoT application development, and blockchain development services.

However, not all companies can be relied on, and businesses must look for development companies that can provide quality solutions. OpenXcell is a credible software development company with a rich portfolio of successful software products integrated with the latest emergent technologies. Visit their website to learn all about high-end software development.

Featured Image Credit: Ali Drabo; Pexels; Thank you!

ServiceNow has launched a recent version of its low-code platform designed to enhance workflow productivity and offer new automation tools for strengthening security and governance. This update also integrates comprehensive solutions for automating crucial healthcare, finance, and talent transformation functions. This latest release allows organizations to streamline operations, improve efficiency, and drive innovation. Using the advanced automation features, businesses can effectively scale their digital transformation initiatives and adapt to the ever-evolving global landscape.

Embracing Generative AI Technology

CJ Desai, president and chief operating officer at ServiceNow, stated that the Vancouver release expands platform capabilities by incorporating generative AI across workflows, increasing efficiency, and delivering innovative solutions to customers. With the integration of generative AI technology, ServiceNow aims to transform business processes and enable organizations to simplify complex tasks effortlessly. This development marks a crucial milestone in their pledge to promote digital innovation and deliver outstanding user experiences for their clientele.

Refining the Now Assist Suite

The company concentrates on enhancing the Now Assist suite of solutions tailored to ITSM (IT service management), CSM (customer service management), HRSD (human resource service delivery), and Creators. ServiceNow employs its proprietary domain-specific large language models (LLMs) to support these functions, allowing users to incorporate general-purpose OpenAI LLMs or the company’s specialized models. Additionally, these LLMs guarantee optimal platform performance, improved task automation, and seamless workflow management across different sectors. By providing a variety of customizable language models, ServiceNow empowers businesses to optimize their processes and deliver exceptional user experiences tailored to their distinctive needs.

AI Integration for ITSM, CSM, and HRSD Solutions

Now Assist for ITSM and CSM offers users summaries of incident histories, cases, and chats for faster problem resolution. The HRSD-focused solution employs generative AI and automation for previously manual tasks, such as providing employee leave information, addressing payroll discrepancies, and processing document modifications. This AI technology integration aims to streamline HR processes and boost productivity by reducing the time and effort spent on routine tasks. Consequently, HR professionals can concentrate on more strategic objectives, improving overall employee satisfaction and driving business growth.

Text-to-Code for Creator-Centered Features

The Creator-focused functionality introduces text-to-code, allowing users to convert natural language text into JavaScript code suggestions to expedite Now Platform development. This innovative feature enables developers to optimize their workflow, reduce coding errors, and increase productivity by using simple phrases to represent complex code structures. As a result, users can enjoy a more intuitive application development process, making the Now Platform more accessible and efficient for professionals with varying expertise levels.

Advantages of Domain-Specific LLMs

Jon Sigler, Senior Vice President for the Now Platform, emphasized the benefits of domain-specific LLMs, as they offer enhanced, faster, safer, and more cost-effective outcomes. By customizing solutions to specific industries and their unique requirements, domain-specific LLMs facilitate seamless integration and ease of use with existing systems. This approach promotes rapid adoption and improved productivity, empowering organizations to drive innovation and maintain a competitive edge in their respective markets.

Potential Impact of Generative AI on Workplace Efficiency

ServiceNow reported 30-40% time savings in initial tests with employees and selected clients when using generative AI solutions for repetitive tasks such as content production or case updates. Therefore, the integration of generative AI into ServiceNow’s platform could considerably enhance workplace efficiency and lower manual effort in managing recurring tasks. This increase in productivity might result in an improved customer experience and higher employee satisfaction rates across various industries.

Caution Advised in Interpreting Early Results

However, Amy Lokey, the company’s SVP of product experience, warned that these results are preliminary for an emerging technology. It is essential to approach these findings with cautious optimism, as many factors could potentially affect the development and implementation of the technology. As progress continues, both companies and researchers must closely monitor advancements and potential obstacles to ensure the technology can achieve its full potential in revolutionizing different industries.

ServiceNow’s Commitment to Increased Productivity and Lower Costs

ServiceNow aims to build upon these features to boost productivity and reduce costs. By streamlining processes and enhancing user experiences, ServiceNow aims to create a more efficient working environment for businesses. This approach will result in significant time savings and cost reductions, further reinforcing their commitment to the growth and success of their clients.

FAQs

What is the latest Now Platform update?

The latest Now Platform update is ServiceNow Vancouver, a low-code platform designed to enhance productivity in workflows, offer new automation tools for security and governance, and provide solutions for automating crucial functions in healthcare, finance, and talent transformation. The platform aims to help organizations streamline operations, improve efficiency, and drive innovation.

What is generative AI, and how is it implemented in the Now Platform?

Generative AI is artificial intelligence that focuses on creating new content or ideas, automating processes, and increasing efficiency. The Now Platform incorporates generative AI across workflows to enable organizations to simplify complex tasks and deliver innovative solutions for their clientele. The integration of generative AI technology marks a pivotal milestone in ServiceNow’s commitment to digital innovation and exceptional user experiences.

What is the Now Assist suite?

The Now Assist suite is a collection of solutions designed to improve IT service management (ITSM), customer service management (CSM), human resource service delivery (HRSD), and Creators. ServiceNow employs domain-specific large language models (LLMs) to support these functions and guarantee optimal performance, improved task automation, and seamless workflow management across various sectors.

How does AI integration benefit ITSM, CSM, and HRSD solutions?

Now Assist for ITSM and CSM provides users with summaries of incident histories, cases, and chats to enable faster problem resolution. In addition, the HRSD-focused solution uses generative AI and automation to streamline HR processes, reduce the time and effort spent on manual tasks, and help HR professionals focus on more strategic objectives, improving overall employee satisfaction and driving business growth.

What is text-to-code, and how does it enhance the Creator experience?

Text-to-code is an innovative feature that allows users to convert natural language text into JavaScript code suggestions to accelerate Now Platform development. By simplifying complex code structures with plain phrases, text-to-code enhances developers’ workflow, reduces coding errors, increases productivity, and makes the Now Platform more accessible and efficient for professionals with varying expertise levels.

What are the advantages of domain-specific LLMs?

Domain-specific LLMs offer enhanced, faster, safer, and more cost-effective outcomes by customizing solutions for specific industries and their unique requirements. This approach enables seamless integration with existing systems, easier implementation, faster adoption, and improved productivity, empowering organizations to drive innovation and maintain a competitive edge in their respective markets.

What is the potential impact of generative AI on workplace efficiency?

ServiceNow reported 30-40% time savings in initial tests with generative AI solutions for repetitive tasks such as content production or case updates. With the integration of this technology, ServiceNow could significantly enhance workplace efficiency, lower manual effort, and improve customer experience and employee satisfaction across various industries.

Should we be cautious about the early results of generative AI implementation?

Yes, it is essential to approach any early results with cautious optimism, as many factors could potentially affect the development and implementation of generative AI technology. Companies and researchers must continuously monitor advancements and potential obstacles to ensure the technology can achieve its full potential in revolutionizing different industries.

What is ServiceNow’s commitment to increased productivity and lower costs?

ServiceNow’s ultimate goal is to build upon the latest features to boost productivity, reduce costs, streamline processes, and enhance user experiences. By creating a more efficient working environment and achieving significant time savings and cost reductions, ServiceNow reinforces its commitment to the growth and success of its clients.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Campus placements are as important for candidates as they are for recruiters. The session not only assesses a student’s eligibility but also reflects the efficiency of your hiring team. Candidates and recruiters are equally engaged before and during the campus hiring sessions.

Harvard Business Study claims that 84% of employers believe campus hiring is essential. Therefore, your hiring team needs to give their best to find the fittest candidate, just as your applicants do their best to crack the competition and get campus placements!

While your best candidate may have other job options in campus recruitment, you don’t have a lot of top talents in your hand to choose from.  You would need to hire the BEST, who many other competitive firms have already noticed! Finding top talent, hence, becomes very tough.

From another perspective, the candidates must judge your recruitment process and choose their most trusted organizations. This brings us to whether you can deliver a good candidate experience or not, and also whether it meets up to candidate expectations or not.

Winning top candidates is as complex as gaming a client in the scenario of campus hiring. There are five prominent challenges that you might be experiencing during campus hiring. In this blog, we will help you identify the loopholes in campus hiring strategies, share three easy steps to beat your competitors and bag you the ‘BEST’ candidates.

What Are The Challenges Faced In Mass Recruitment?

The huge competition for talent in the job market results in constant tension between job-seekers and employers. While, on the one hand, first-time interviews are taxing for aspirants, 41% of recruiters agree it is challenging to fill entry-level job posts. Both parties are under equal pressure to achieve their goals and targets. There are five prominent challenges that a recruiter experiences.

1. Short of manpower: Not every firm can afford a hiring team. Also, the more people involved, the messier the outcomes we can end up with.
2. Challenging hiring deadlines: The battle between the need to choose the best and the need to meet HR deadlines.
3. Bulk candidate influx: A huge number of applicants must be managed and served equally to maintain a positive candidate experience. 
4. Give offer letters: Delay in the processing of offer letters by the company and their acceptance by the candidate is a common occurrence when it comes to campus hiring.
5. Flaws in the hiring process: There are many flaws in the recruitment process that lead to a wrong hiring

• Lousy candidate experience: Inability to attend to the candidate’s queries and to convey updates or feedback can result in a bad candidate experience.
• Possibility of a bad hire: Investing hours in the hiring process only to know that your ‘looking good’ candidate is an imposter!
• Biased onboarding decision: Discriminately favoring a new hire due to good scores in your screening assessments or just because you have a ‘gut’ feeling that the person will lead the team someday.

Tackling The Campus Hiring Challenges In Steps

No, you need not get scared with PMaps Consultancy having your back in this campus hiring session. Below, we give you the absolute tried and tested steps to win a good candidate and orient your new team of freshers in the organization.

Step1- Administer skills assessments

Skills assessments are comprehensive tests that evaluate the candidate’s behavioral attributes, job-specific skills, and general logic and reasoning. It provides an in-depth report on candidates’ competency for a  job position based on their natural traits. Skill tests are the go-to tool for obtaining the complete profile of an individual within 15 minutes!

Additionally, they are the new day scientific recruitment tools that can provide a wide range of hiring solutions. Some of these are:

• Coding Assessments are a popular way to assess candidates’ technical skills for specialized roles such as software developers, programmers, web developers, etc. These skill tests can determine a candidate’s ability to write code, solve problems, and follow instructions.
• Sales Assessments are tools that gauge the sales skills of candidates for sales roles. These assessments can assess a candidate’s ability to generate leads, qualify prospects, and close deals. Sales assessments can be tailored to the specific requirements of the role.
• Customer Service Assessments can be used as determinants to screen the customer service skills of candidates for client dealing roles. These assessments can assess a candidate’s ability to understand and resolve customer issues, provide excellent customer service, and build customer relationships.
• Voice and Accent Assessments evaluate candidates’ communication skills for roles requiring precise and concise communication. These assessments can assess a candidate’s ability to speak clearly, pronounce words correctly, and use proper grammar. PMaps language test also checks the solution’s-ability of the applicants along with the other language factors.

Step2- Check the cultural fitness of your candidates before onboarding

The cultural fitness of an applicant cannot be gauged through their body language. Certain psychological traits define the cultural behavior of the candidate. The candidate’s culture fit with your organization depends on how well their culture aligns with the workplace situation. This allows your candidates to visualize your goals and hence encourages retention. This can be measured through cultural-fitment assessments.

Step3- Cross-check your candidates with Behavioral Questions

This is an essential step, no matter how well your interviewee has performed thus far. Constantly revisit the assessment reports, confirming consistency in their behavior. If the accounts show their leadership traits to be high, ask them to describe one situation where they have practically expressed this ability. Ask your candidates many ‘How,’ ‘Why,’ ‘What,’ and ‘When’ questions.

Behavioral question banks are prepared based on pre-employment test reports to ease your work. If the candidate fakes, you can quickly identify the divergence from expected answers and hints of storytelling.

Conclusion

PMaps can assist you with the hectic campus recruitment process with complete technological support. We offer pre-employment tools to help you assess freshers for entry-level job posts. It saves you valuable time and helps you meet your financial goals regarding recruitment.

Best of all, we take care of your candidate’s experience through our visual-based tools that evaluate your applicants beyond the language barrier. Want to learn more? Let our experts know you are interested through our website or email at PMaps.

Featured Image Credit: