At Privasee, they believe that complying with data protection regulations like the GDPR shouldn’t be difficult. They’ve experienced it firsthand in their prior business and know how long and expensive the process is.
Privasee makes it easy for companies to comply with GDPR and other data protection regulations by creating a model of the data you use in your company and generating policies and a cookie banner that stay up to date as regulations change.
Privasee: The Guardian Helper of Companies in All Sectors of Technology
It’s great to see how Privasee is helping companies in all industries. Essentially, they are the trusted partner of their customers when they are developing new products or features. Customers always come to them to ensure that their high level is maintained even as they grow.
Breaking into Bit-Size Chunks for Meaningful Process
Education is a big part of what Privasee does. Their industry is relatively new. Although it existed before GDPR it is after it that it starts skyrocketing and as you may know, data protection is a difficult, complex topic that is quite new. One of the biggest challenges is explaining to companies the magnitude of a task GDPR compliance is and how to break it down into bite-size chunks so that meaningful progress is made.
Correct Usage of the Platform
Manuel quotes “our biggest USP is the fact that you don’t need to be an expert to use the platform and that the platform updates over time as your company or regulations change.”
A Secure SaaS Platform for Your Businesses
Privasee has a Saas platform in which you can input all the information you already know about the business – for example, the tools you use (HubSpot, MailChimp…) the types of data you use, and other information about the business. They also have scanners that find this information.
The firm then generates your personal data inventory and from that, they’re able to generate privacy policies, cookie policies, cookie banners, and soon data processing agreements all tailored to your business, which can be changed any time when your company or regulation changes.
Unlocking Different Regulations
Currently, the firm helps companies comply with EU and UK GDPR but they’re looking to support companies that are looking to comply with Data Protection Regulations worldwide including CCPA/CPRA and other data protection state laws in the US. In the future, a company from any place in the world will be able to use the Privasee platform to comply with its local regulations and as they grow it can continue to unlock different regulations as they serve new markets.
Lack of Education on GDPR
Manuel thinks that the main challenge of the industry is education. Education because there is a lot of misinformation about what the GDPR is and isn’t and how to apply it practically to a company. One thing is what the legislation says but it is the court decisions and the hundred-page-long documents released by the European Data Protection Board that give more concrete examples of how the GDPR can be enforced.
Additionally, aside from the GDPR, they also look at other regulations like the ePrivacy Directive and how it interacts with GDPR in online marketing and cookies. Anyone who is building a company doesn’t have the time to sit down and become a GDPR expert yet it is something that must be present in the day-to-day running of the business as it’s critical to embed it into product development, programming, and customer support, legal, hr and so on.
Management: Manuel Martinez Chamorro, CTO & Co-founder at Privasee
The post Creating a Model of Data You Can Use to Stay Up to Date as Regulations Change by Manuel Martinez Chamorro, CTO & Co-founder at Privasee appeared first on Analytics Insight.
“Our Strategy Is To Outperform The Competition Using AI And ML” Says Sridhar Seshadri
Artificial intelligence and machine learning are making deeper strides into everyday operations. But unfortunately, not many businesses are able to leverage the new-age technologies because it requires a hectic process of model building and requires regular monitoring, given the changes in data can impact the model tremendously. Spotflock, an AI product building and servicing company says model as a service is what differentiates them as a key player operating in a diverse set of verticals. Analytics Insight has engaged in an exclusive interview with Sridhar Seshadri, an ex-Meta & ex-EASports industry veteran and Co-Founder of Spotflock Technologies.
1. Kindly brief us about the company, its specialization, and your products.
As a Deep Tech company, Spotflock Technologies specializes in Artificial Intelligence – ML, NLP, Chatbots, Computer Vision, Blockchain, IoT, and AR/VR. We delivered multiple product licenses & solutions to Energy/Utility segment, EdTech, Cyber Security, Healthcare, Well-being, FinTech, Media & News, Social & Mobile Gaming, & Social Media verticals.
We currently focus on eGov, SportsTech, and B2C platforms. Our core product is Intellihub, a DeepTech enterprise offering that reduces time and effort for large corporations in digital transformation.
2. How is Intellihub contributing to making products and services for private and public sector entities?
Intellihub contributes to enterprises and government departments in various ways. From automating business processes and gaining insights through business intelligence and artificial intelligence to evidence-based audibility through blockchain.
Our core offering is in Deep Tech, a universal self-servicing AI platform with IoT extensions and microservices. Our hybrid cloud platform can add proprietary algorithms and best-of-the-breed handpicked AI algorithms from various platform pioneers like H2O, Google’s Tensorflow, Weka, etc.
We have implemented AI to assist public sector entities like micro-irrigation, energy, telecom, governance, and grievance management services.
3. Which industry verticals are you currently focusing on? And what is your go-to market strategy for the same?
Spotflock is focused on AI & Blockchain solutions for e-governance and Sports Tech. We use DeepTech for e-governance using core AI, business analytics, business intelligence, and blockchain-based solutions.
Spotflock’s sports tech vertical has recently built AI-powered e-commerce platforms, applications that manage booking and scheduling, community-based applications, and analytics for golf academies.
Our strategy is to outperform the competition using cutting-edge AI and machine learning technology. With a clear and compelling data strategy, ensuring clients’ success, which translates into Spotflock’s growth.
4. How has the adoption of Deep Tech in India evolved over the last few years?
India is a thriving hub for cutting-edge deep-tech companies with huge potential to develop products and services for the global markets. Per Nasscom’s India DeepTech Startup Report, in the last 5-7 years, the Indian deep-tech ecosystem has grown significantly, with over 3000 deep-tech startups in India as of 2021, growing at a staggering rate of 53% CAGR in the last ten years, hence employing over 4000 individuals spread over 14 potential deep-tech unicorns.
India is at an early stage of adopting deep tech, and there is tremendous potential across the sectors, and the need for mindset change is the order of the day. Once Indian corporates adopt these tools and start tasting the success, we will be the fastest adopters of tech, and I am sure in the next three to four years, the landscape in India will be ripe for Deep tech.
5. What is the edge your company has over other players in the industry?
Spotflock, over the years, has built a competitive advantage in three areas, i.e., platform, products, and processes. Our hybrid AI platform’s cloud supports other platforms, and our SDK for Data scientists supports all 3rd party best of breed platforms with support for interoperability and model-as-a-Service offering.
We have built products focusing on portfolios such as energy, finance, blockchain, healthcare, sports analytics, and e-commerce, thus enabling our Service Integrator partners to sell repeatable offerings and solutions. Finally, about the process, we have created a corporate culture that attracts the best talent; we focused on increasing our core technology competencies to create value for our customers. When faced with stiff competition, these areas gave us that competitive edge.
6. Would you like to highlight a few use cases where AI has benefitted the organization tremendously?
We have multiple use cases of AI/ML in energy consumption, savings, and smart electricity price bidding offering. We created a load forecasting model for exchanges with models giving up to 92% accuracy with recurring DSE methodologies like dataset cleaning, correlating different databases, and missing value imputations with the model with an accuracy of 80% after which few in-house methodologies were used to increase the accuracy. In addition, we have use cases in automated attendance management systems using CV, drowsiness detection using CV and smart triaging using ML.
The post “Our Strategy is to Outperform the Competition Using AI and ML” Says Sridhar Seshadri appeared first on Analytics Insight.
“We Aim To Become The Go-To Thought Leader In Data Services” Says Peeyoosh Pandey
Data monetization involves taking certain steps like building the necessary structures to seamlessly integrate it into the corporate strategy. It is a complex and long-term plan for building a successful data-driven business, a vision many companies lack. Hoonartek, a leading data, and lending IT services company that provides end-to-end data services, says the data products they build for data monetization are unmatchable. Analytics Insight has engaged in an exclusive interview with Peeyoosh Pandey, CEO of Hoonartek.
Kindly brief us about your company, its specializations and service offerings?
Hoonartek is a global IT services company with key focus on Data & Analytics services, especially for the BFSI and Telco Industry. We deliver end to end data projects from ETL to visualisation, leading to data products/monetisation use cases for our customers.
- With what mission & objectives, the company was set up? Also briefly mention the challenges of your journey since inception.
In the short-term, we look forward to building awareness, establishing high level recall of services and product portfolio, and attracting the right talent in terms of corporate brand and technology. Whereas, in the long run, we aim to become the go-to thought leader and service partner for our customers by offering differentiated pricing, deal size, and working model. Hoonartek also plans to be the number one destination for the talent base and provides a certificate of skill, competency, growth, recognition, and rewards.
During the initial stages of our journey, we faced quite a few challenges that include the ability to differentiate in the highly commoditized services market and convincing customers to trust Hoonartek with large mission-critical work which was non-Ab Initio.
Tell us how Hoonartek is contributing to the tech industry & benefitting the clients – both nationally and globally?
The biggest challenge industry has been facing is a proliferation of platforms and these choices lead to sub-optimal performance. Hoonartek has always been focused on building the platform with the end goal in mind and working backward from there. This helped us in fine tuning all components, meeting the customer expectations, and now even exceeding them. This approach has also helped our partners tremendously, as they have more customers who are able to harness the platform’s power to its fullest, leading to improved adoption across the enterprise. With us, the partners can focus on product innovation, while Hoonartek handholds the customer through their innovation journey.
What’s your viewpoint on the current scenario of data & analytics and its future?
Currently, there are too many choices available in the field of data & analytics and these choices have led to confusion and competition. There is a need to have simplified solutions to process this data, thereby allowing the customer to focus on key problems. Such platforms have the potential to scale up quickly in the existing market and hence, Hoonartek partners with them. The list includes the likes of Snowflake and Databricks.
- How is Hoonartek different from its competitors? What is your biggest USP?
Our focus on data products, data quality, and governance make us unique. There are many who can set up the data pipeline and visualisation as good as we do but building data products leading to data monetisation, there is very little competition for us globally.
How do you see your company and the industry a few years ahead? Your growth plan for the next 12 months?
We are expanding our range of offerings to include workflow, BPM, and Automation so that the actions discovered from the insights can be implemented systematically. The most critical data for the majority of enterprises is customer data. We plan to set up a dedicated CRM CoE so that workflow leading in and out of the data platform is seamless.
How are your team size and your focus areas progressing?
We have a global team of over 800 people and together, we aim to double y-o-y for the next 5 years.
Anything else you would like to add?
I would like to believe that we have one of the best-kept secrets in the analytics world. Now, our focus is to spread the word about the innovative work we have done over the last 12 years and scale into a formidable organization.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
A Crypto Holiday Special: Past, Present, And Future With Ex-Binance CFO Wei Zhou
2022 is coming to an end, and our staff at NewsBTC decided to launch this Crypto Holiday Special to provide some perspective on the crypto industry. We will talk with multiple guests to understand this year’s highs and lows for crypto.
In the spirit of Charles Dicken’s classic, “A Christmas Carol,” we’ll look into crypto from different angles, look at its possible trajectory for 2023 and find common ground amongst these different views of an industry that might support the future of finances.
Zhou: “It won’t be business as usual for centralized exchanges. For one, the days of commingling users and the exchanges’ assets are long gone.”
We are ending our institutional round with Wei Zhou; he worked as Chief Financial Officer for three years at the largest crypto exchange worldwide, Binance. Above the rest, this company and its current CEO, Changpeng “CZ” Zhao, heavily impacted the nascent industry and will continue to exercise influence in the coming years.
Zhou: “Bitcoin, just like the Internet, will survive any storm that comes its way; this I have no inkling of doubt about.”
Zhou reviews the biggest moment in 2022 from his unique perspective. In addition, he talks about the fundamentals that will keep crypto alive and on track to fulfill its destiny. This is what he told us:
Q: What’s the most significant difference for the crypto market today compared to Christmas 2021? Beyond the price of Bitcoin, Ethereum, and others, what changed from that moment of euphoria to today’s perpetual fear? Has there been a decline in adoption and liquidity? Are fundamentals still valid?
A: The crypto market has certainly changed a lot in the past year.
Collapse of key industry players
I think the biggest change this year has been due to the collapse of some key industry players, from Celsius, 3AC to BlockFi and most recently FTX. With billions of dollars affected, investors have become cautious. The collapse of these giants has served to remind us to be prudent and diligent with our crypto investment decisions. Users should conduct thorough research and abstain from entities whose licensing and regulatory status is unclear. I believe that the situation will change in 2023 and that investor confidence will resume, but we can’t afford to forget the lessons learned this year.
Liquidity affected but adoption will continue to grow
With the collapse of a big market maker like FTX, liquidity in the market was affected as several exchanges relied on it. Investors have also pulled quite a bit of their money from exchanges which further escalated the liquidity crunch. Speculative trading may have pulled back, but for those to whom crypto was more focused on use cases like value transfer, web3 gaming and financial inclusion, crypto adoption will continue to surge especially in the Philippines.
Q: What are the dominant narratives driving this change in market conditions? And what should be the narrative today? What are most people overlooking? We saw a major crypto exchange blowing up, a hedge fund thought to be untouchable, and an ecosystem that promised a financial utopia. Is Crypto still the future of finance, or should the community pursue a new vision?
A: This year’s market downturn has fueled crypto skeptics and several mainstream media houses who have become re-energized in their fight against crypto. This narrative has put doubts in the minds of investors. However, most people are overlooking that Bitcoin is designed to be a decentralized electronic currency.
Crypto is still the future of finance. If you recall, when the dot-com bubble burst, there were all manner of questions about the viability of the Internet as a technology and the companies building on it. But look at Amazon, Facebook, Google and others today – they are defining the world we live in. This is because, despite the shake-ups with the market players, the underlying technology was fundamentally transformative. Bitcoin, just like the Internet, will survive this winter.
Q: If you must choose one, what do you think was a significant moment for crypto in 2022? And will the industry feel its consequences across 2023? Where do you see the industry next Christmas? Will it survive this winter? Mainstream is once again declaring the death of the industry. Will they finally get it right?
A: I would point to the FTX collapse as a landmark moment. Its impact has been and will continue to be felt in the industry.
- Investors are keener about who they trust with their assets and how custodians and exchanges store the assets. Investors are now exploring self-custody solutions, which contrary to opinion I think is a great direction to take. When they require to trade their assets, they are now keen to work with exchanges that are fully regulated like Coins.ph which is licensed by the Philippines central bank and is regularly audited.
- Regulators are more concerned about the industry. We will also see a trend where regulators around the world will begin to create a more comprehensive regulatory framework around cryptocurrency.
The crypto industry has gone through worse. In 2017, the crypto markets peaked and crashed to $3,000, and the industry endured a three-year-long crypto winter. In 2022, we now have institutional investors who are advancing the sector, unlike during prior winters.
I believe the industry will survive because there are now much more use cases than there were in the past.
Q: What’s next for exchanges such as Binance in 2023 and beyond? Do you think the recent events with FTX will jeopardize the future of these platforms? Many are already speculating about the shift in liquidity from Centralize to Decentralize Exchanges (DEX) due to the users’ lack of confidence in the former
A: The days of commingling users and the exchanges’ assets are long gone. FTX has woken up the entire industry to the dangers this practice can have. Proof of reserves is already becoming a big trend as more investors ask questions about how and where their assets are stored.
Related Reading: A Crypto Holiday Special: Past, Present, And Future With Blofin
Regulators are also cracking down much harder on exchanges. In the Philippines, for instance, the BSP was quick to audit exchanges in order to probe if they had been exposed to the FTX contagion. Thankfully, neither Coins.ph nor our peers were exposed to FTX.
The crypto industry will be shifting to focus on Web3, decentralized exchanges and self-custody. More users are now exploring wallets that give them full ownership of their crypto. I am a big supporter of self-custody for those with the technical ability to do it successfully. When they require trade, I would advise them to always use an exchange that’s licensed and supervised by a recognized national or regional watchdog.
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