Why is Google Analytics 4 Replacing UA – Universal Analytics for Digital Marketing Services?
In 2019, Google Analytics 4 was introduced as a replacement for Universal Analytics. Users could use default analytic properties on upgrading the new version until July 1, 2023. Some Google properties of Google will end in June 2024, and the replacement process will start in July 2024. Google Analytics 4 is built for digital marketing services.
What Do You Know about Google Analytics 4?
Google Analytics 4, or GA4, is the latest version of the Google Analytics platform. It is not like its predecessor, Universal Analytics, or UA. It is an event-based platform that allows business owners to understand their audience. To manage marketing performance, the property aggregates the data with joint analysis.
Benefits of Google Analytics 4
Google Analytics 4 was designed to improve the privacy standard and solve other problems related to data collection. Google is updating the analytics on its platform of GA4 because of various reasons:
1: Data Privacy : Today, data privacy is a big factor, which is the main reason to switch to GA4. GA4 is shifting cookies with privacy protection for internet users. It is part of new or revised products from Google that address data privacy and regulations like GDPR, including Google Enhanced Conversion Tracking, Google Privacy Sandbox, Google Measurement Protocol, and Google Content Mode.
Privacy Features of Google Analytics 4
Google signals are enabled on a regional basis.
All the EU data is collected in the EU to satisfy the requirements of GDPR
The feature of GA4 does not allow storing IP address
The existing privacy features are there in the UA
2: AI and Machine Learning : GA4 also incorporates machine learning and AI that its predecessor. It is an actual necessity that is less than the add-on. The feature showcases statistical modelling, essential for filling the data gaps.
Machine learning is the main part of the data measurement, extrapolating existing data for various assumptions, such as user behaviour and site traffic. The new AI-powered feature intends to provide data for every digital marketing agency.
3: Mobile-Focused and Cross-Device : Google launched UA 10 years ago for customers and evolving audiences. Mobile web browsing overtook the desktop with cross-device functionalities. The analysis functions to deal with the cross-device set-up online. Compared to UA, Ga4 is cross-device and is for mobile-focused users.
4: GA4 Event Tracking : The most significant transformation between GA4 and UA is the introduction of an event-based model with the analysis of a session-based model. GA4 doesn’t focus on page views and sessions but categorises interaction based on the website. This has a single action based on adjusting and editing as per the tracked events.
Difference Between Universal Analytics and Google Analytics 4
There are various critical differences between UA and GA4 regarding the metrics and new menu addition. Take a look!
1: Event-Driven Data Model : UA had events, but they are different in GA4 now. It is more powerful than UA. An event tracks interaction with apps and websites, including CTA clicks, page views, or form submissions.
GA4 has a set of Automatically Collected Events based on Enhanced Measurement Events with Google Analytics for data management.
2: New Dashboard : The users will be able to see the whole new dashboard on the optimisation of the previous one. There are some reports on the main page based on an updated version of the new menu bar that navigates the users to
Home
Explore
Reports
Configure
Advertising
Library
3: User-Centric Measurement : With the event-driven model, you can track engagement metrics such as engagement time, rates, and sessions. This model deals with the reflection and evolution of app and web metrics. Google Analytics 4 also focuses on the individuality of the users. The new user engagement has metrics based on the measurement level for conversions and interactions. This approach stands with the personalised experience of the individual’s preference.
4: New Privacy Standards : Google Analytics 4’s privacy policies include more detailed data and control options. They are mainly designed to deal with the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). The policy also supports user-centric data controls, data deletion, and various options to handle consent according to preferences.
5: More Controls and Power : As we know, Google Analytics 4 helps in digital marketing services. This is an important difference from Universal Analytics. The new version has other powerful features that help in conversion events. Digital marketers can easily create segments for conversion events based on the time period and location of the users’ behaviour.
The Bottom Line
Technology is evolving day by day in an updated way. Everything that seemed like a booming future is the reality today. Therefore, it is time for every digital marketing agency to advertise and start a business for Google Analytics 4.
How Low-Code and No-Code Platforms are Helping SaaS Development Teams Out
When it comes to software development, it generally implies having design and development teams to bring about a product that is worth the effort invested. However, the entire process could be a bit costly.
Unveiling the Secrets of No-Code
When in a situation where there are no big teams, yet there is a requirement to build a SaaS product, it is where the no-code tools come into play.
Non-developers can now develop web solutions and applications and development processes can now be automated by the use of a visual interface. Coding as well as technical skills shall not be required in this case.
The No-Code Tools are Gaining Much Popularity
With digital transformation making its progress, the no-code tools are also gaining much popularity. Both low-code and no-code tools can be considered to be new solutions that have been introduced to the IT industry.
SaaS products that are developed using no-code do contain codes which are there in the no-code platform and in the embedded form and their creation happens in an automatic way well behind the scenes.
The Working Facts
The exact working in such a type of development is somewhat like this.
A no-code SaaS builder is brought into use
It is basically a graphical-user interface which is also user-friendly
It has specific features like drag and drop ones
Management of workflows,
Organization of the pages of the product are some of the tasks which the SaaS builder performs
The tools come up with various sets of templates that are ready-made ones
And also various features which can be applied during the process of development to the product
The implementation of the changes that are made are automatically done
This makes the entire process of the creation of the product extremely efficient
The Various Benefits of Using The No-Code Platform
The No-Code Benefits
There are several benefits associated with the use of a no-code SaaS development process.
Time gets saved as the exaggerated steps of writing codes are skipped.
This allows startups and businesses to focus more on the services associated with marketing and also customer services.
Time is also saved as the no-code platforms also deal with the maintenance part.
No-code SaaS also implies that the entire product can be created with the involvement of just a single person
In this case the requirement of development teams is not there, which is good news for businesses as they do not need to recruit large development and design teams for building the software product
Some other benefits also include reduction in the costs, the availability of features that are pre-built, and the upgradation of products.
The Low-Code Concept
Challenges revolve around development of applications in a fast and an efficient way most of the time. Low-code development is gaining traction in the market as software developers are on the lookout for ways to release their products by means of a faster process. This age where SaaS products that are powered by cloud seem to be playing a dominating role, developers who are experts in the field of SaaS development are also considering the convenient possibilities of rapid software development that takes into account minimum coding requirements and that is none other than but with the help of low-code platforms.
The Low-Code Platform
The process of development of applications can now be simplified, made more user-friendly as well as swift and all this is meant particularly for the development environment that is operating out today.
Some Low-Code Benefits
Here are some key benefits of using low-code development platforms
Serves as an excellent way via which the speed of development can be increased
Low-code platforms helps to fix bugs in a much faster way
Deployment of the application on different platforms and devices can be done in a simpler way
Maintenance as well as upgradation to the existing applications of SaaS is easier
In the Real-World Scenario
Low-code platforms find use in the development of applications which are used for various processes like automated marketing, processing of data associated with finance and also for processes that are related to onboarding as well as recruitment. Hence in a way low-code platforms help businesses out as they perform their mundane internal operations.
Implementation of The Low-Code Tools in The Real World is Being of Real Help
Low-code tools find use in the development of IoT enabled applications where integration is required with a number of systems as well as end points and this includes smart sensors, automobiles as well as various systems used for communication purposes. Low-code platforms can be used to integrate with IoT platforms that exist already to build mobile and web applications. Integration with third-party service providers can be done to serve several purposes of which real-time traffic is one.
Briefing it out
Thus we saw in brief how no-code and low-code tools are helping business organisations serve a plethora of purposes. It saves time as the need to write multiple lines of code does not arise. There are several other reasons as to why the IT industry is getting benefited from the use of low-code and no-code tools. Developers from around the world are preferring the use of these two concepts.
On an ending note
Low-code and no-code tools and platforms are transforming the very ways in which software is being developed. A number of SaaS companies that are in the process of growing are shifting their focus to low-code and no-code development for the purpose of building software products which also includes various applications. Cross platform compatibility, time saving processes are some of the many benefits that these platforms offer.
When The Codes Play Foul, It is Mankind That Gets Affected The Most
Technology has transformed our lives to a great extent. Smart technologies today help students as well as scholars to extract information in almost no time for the purpose of their study, anybody in a new place could make use of GPS to track location and the problem of getting lost is no longer there, now the very process of diagnosis is enhanced to an extent that was probably not possible a few decades ago and also there are online shopping and banking facilities available, thanks to the technological advancements.
The Growing Concerns
Looking at The Other Side of Digitisation
But there are some concerns which need to be addressed and the problems are proliferating with the time.
There are hackers and fraudsters who never miss an opportunity to commit crimes that hamper both the personal as well as the social lives of the victims.
Hackers are capable of gaining control of cars and they can even cause a shut down of an entire electric grid, disrupting lives of many.
Next there are cyberthieves who never pause before illegally acquiring the personal details and empty bank accounts or even make online purchases by using credit cards.
There have been cases around the world which give us instances of fraudulent activities. Cars that were connected with the internet was a big thing
But the excitement faded when there came cases where hackers gained control of the cars leading to several mishaps and accidents.
The Extent to Which Hackers can Go
Next in line, we have
The Internet of Things where there is a network and objects connected to each other.
This network of connected objects helps in the sending and receiving of different data which could include equipment meant for diagnosis purpose or any kind of home appliances like coffee makers and so on.
The connected environment creates new scope for cyber criminals and they get the golden opportunity to collect information and harm the users by means of various fraudulent activities.
Cases could revolve around immobilising devices by the use of malicious software and data could be encrypted and money could be demanded to get the decryption key back.
It is an easy process as the security features that come in with the systems are not many and in absence of built-in security malicious attackers can get access without too much of a trouble.
Some Real-Life Instances
The number of vulnerable devices is increasing with the continuous expansion of the digitised world.
The malicious attackers never give a second thought before they commit the crimes.
There have been instances where hackers have shut down the systems meant for the purpose of diagnosis at the hospitals and had demanded ransom in return.
In western Ukraine, there had been a case where a power grid had been the target of the hackers and the result was that thousands of people were left without electricity.
In Germany, a steel mill had been the target, and that had led to enormous damage being done to the foundry.
Cybercrimes are increasing in number because companies are going online and they are doing little to deal with cybersecurity issues.
For instance, there had been a theft case of some millions of dollars from the central bank of Bangladesh and it was a big loss for a country like that.
Situations could arise where the global financial system could be adversely affected.
Looking The Economic Way
Study reveals the fact that the GDP of the countries where innovative inventions drive the economic growth could be affected to a great extent
This also implies the fact that the economic health of the nation could be adversely affected.
This is driving the demand for cybersecurity measures whose value could reach up to several billion dollars in the coming years.
This was all about the global scenario of what had happened and what could happen as a result of the malicious activities of the hackers. The increase in the number of connected devices and the lack of in-built security features could add to the problem. Moreover in this world where digitisation is playing an active part and everything from business to shopping to payments is going online, a widened scope is being created for the cybercriminals.
Final Note
We got a brief view of the past incidents, the present situation and the future occurrences that might take place as result of the fraudulent activities of the cybercriminals. We should be more careful about the devices that are connected, that is to say the IoT devices and keep an eye out while handling the financial dealings, that could save the world to some extent.
Unveiling The True Essence of Digital Transformation
Blockchain today finds use in a number of applications and it is one of the most prominent technologies to be used in the past in the last decade. The fusion of the technologies of blockchain and IoT together with the artificial intelligence can lead to the formation of smart systems.
AI and Blockchain
Maintaining records accurately and processing the data that the blocks store are blockchain’s primary objectives. Identification of patterns, in the process of making efficient decisions, are some of the areas where artificial intelligence finds use. With artificial intelligence being integrated in blockchain, it would mean making improvements on the data accuracy and also aid in the process of making decisions particularly during the post processing of transactions. In order to make decisions that are effective, accurate timing and genuine information are essential requisites for the system that is driven by AI.
Taking A Step Forward
IoT, blockchain and artificial intelligence are the leading technologies that are taking digital transformation a step ahead. Organisations today are taking initiatives to move along and stay at par by driving the most happening digital transformation.
The Role of IoT
IoT helps to connect the mundane objects as well as devices and helps in the collection and sharing of data. Operations are made more efficient, processes can now be automated and all this happens because of the boon of IoT. Now starting from optimisation of supply chains and tracking of products in real time, creation of ecosystems in the connected form that plays an active part in improving productivity and in delivering experiences that are personalised ones are all possible.
Blockchain in Full Swing
Blockchain makes transactions secure and less prone to fraudulent activities and this is done by the elimination of intermediaries, making transactions more transparent. Also records are maintained in a decentralised manner, and integrity of data is enhanced. Much like IoT, blockchain also holds the potential to bring about revolutionary changes to the realm of management of supply chain and its various operations. Not just that, blockchain also holds the potential to bring about transparency and efficiency in the different financial transactions.
The Power of AI/ML
The power of artificial intelligence and machine learning can be felt as it helps organisations to make the best use of data available, by the automation of processes, and by helping to gain insights that hold much value. Analysis of enormous amounts of data, pattern identification and bringing about accuracy in predictions can be achieved with the help of the algorithms of artificial intelligence and machine learning.
Unlocking Some True Potential
The true essence of digital transformation is brought forward when the technologies of IoT, blockchain and artificial intelligence and machine learning come together and perform their parts in a harmonious manner. Generation of data can be done by IoT. This storing and sharing of the data so collected can be done by blockchain. The remaining decision making part can be achieved with the help of the algorithms of artificial intelligence and machine learning which does extract useful insights and creates scope for further improvements.
Industries starting from healthcare to logistics are experiencing strong impacts as a result of the combined effect of the technologies of IoT, blockchain and artificial intelligence and machine learning. Companies offering Digital Transformation Services are in great demand in the market. Some happening examples could be that of the smart cities which are coming up, personalisation of the healthcare facilities and the efficient operations that are gaining traction in the logistics industry.
Final Note
Opportunities that are still to be exploited can be unlocked by using the power of these three combined technologies. A fine edge over competition can now be achieved and customers could be given experiences that have never been there before by the virtue of the much coveted digital transformation.
How is The World of Digital Marketing Changing with Time?
The realm of digital marketing is subject to constant changes and in order to stand out from the crowd, it is important to keep pace with the happening trends in the market.
The Brand New Ways
The Role of AI
The world could expect to witness a number of revolutionary changes with respect to digital marketing. Coming to artificial intelligence and machine learning, we see that these technologies are bringing about important transformations in the various operations of businesses and in a way they are also impacting the very approaches marketers have to digital marketing. Personalization of customer experiences and automation of tasks creates more scope for marketers to concentrate on other crucial strategies.
A Digital Marketing Company that renders efficient digital marketing services and that which helps businesses maximise sales is what the need of the hour is.
A little aboutGA4
Google Analytics 4 (GA4) comes with a set of features or Analytics Intelligence that makes use of machine learning models of Google for the purpose of analysing the data and for predicting the actions that could be taken in future by the end users.
Voice Search Optimization
Voice search optimization is a happening trend and businesses need to focus on it to ensure the progress of sales. Around one-third of the total population of the US are in possession of smart speaker devices. The technology associated with voice recognition enables the users of the smart devices to make searches effectively by simply making use of their voices.
Content That Leaves A Mark
Interactive content in the form of quizzes, games as well as surveys is gaining popularity as a means of creating engagement with their valuable customers or audience and gives businesses an opportunity to gain significant insights revolving around their customers. Creation of an experience that is more interactive helps build long-lasting relationships with customers and brand experiences get created that leaves behind indelible marks on the minds of the customers.
Taking Care of Moments
Micro-moments are being focussed on by businesses as the use of mobile phones and with it the quick searches are constantly on the rise. Micro-moments are moments when consumers demand information almost immediately and businesses are shouldering the responsibility to provide that bit of information precisely at that point of time or in that exact moment.
Another Form of Marketing
Next, we have Influencer Marketing in line that is gaining ground in the world of digital marketing.
Partnerships with social media influencers is now common among businesses in order to have a maximum reach and also create an impactful brand awareness.
The fact that these individuals have quite a bit of an influence over their followers can be positively utilised to drive in leads and facilitate conversions.
As per statistical study,
Around 82% of the total brand marketers on a worldwide basis have plans to invest in influencer marketing in the year 2023.
67% of the total marketers have plans to increase the expenditure associated with influencer marketing.
83% of the total marketers believe in the fact that influencer marketing is quite an effective marketing tool.
Weavers Web Solutions is a leading name when it comes to offering value-added digital marketing services. We are a premier Digital Marketing Agencyand we develop digital marketing strategies that are sure to bring you more conversions.
The Impact of Video Content
Video content happens to be a dominating form of content in recent times on the internet.
Businesses all over the world are making use of video in various strategies to have a wider reach and create valuable engagement.
Video has proven to be an extremely powerful tool that fosters efficient marketing.
Social Media Advertising
Social media advertising is yet another tool and its use is growing at a constant rate. Facebook, Instagram and LinkedIn are the different platforms that are being used for the purpose of reaching the target audience and for driving conversions.
These were some of the trends that we got a brief overview about and there are many more which are beyond the scope of this blog. So we limit ourselves to this and keep following us to know more about the remaining trends.
Final Note
Digital marketing is a field that is gaining traction in the market and businesses all over the world are beginning to understand its importance and therefore leveraging it to attain maximum profit in their business. This blog discusses some and there are still more that would be discussed further in future.
Having An Edge Over Competitors And Having Happy Customers Shall Now Be An Easy Task For Businesses
DevOps helps to accelerate the delivery of software that is of higher quality by enabling the combination as well as automation of different teams like that of software development and IT operations. An agile software development life-cycle leads to businesses having an edge over competition as a result of which businesses tend to have happy customers.
What Does It Take into Account?
DevOps is associated with the collaboration as well as coordination between various roles that were formerly siloed and that involves,
Development
IT operations
Quality Engineering
Security
DevOps culture together with tools as well as practices are taken up for the purpose of
Responding in a better way to the demands of the customers
Gaining more confidence in the products or applications so developed
Achieving the goals of business in a much faster way
DevOps assists teams to provide value added services to customers and this is achieved by delivering products that define high degree of reliability as well as refined quality.
The Life Cycle
The DevOps lifecycle begins with the development phase of the software, and it continues through to the delivery, maintenance as well as security phases. The different stages associated with the lifecycle are as follows:
Planning Stage: In this stage, the work is organised, prioritisation of the work as well as the tracking the process of its completion are also taken into account.
Create Stage: The code and the project data management with the concerned team and the writing, designing as well as the development of the same are taken up in this stage.
Verification Stage: In this stage, it is ensured that the code works in the correct manner and that the quality is not compromised with.
Secure: The different vulnerabilities are check in this stage through various tests like dynamic and static tests, also fuzz testing is applied
The Release Stage: This stage is marked by the deployment of the software to the final users.
Configuration Stage: The management and the configuration of the infrastructure that is required for the purpose of supporting the applications is done in this stage.
Monitoring Stage: In this stage, the performance metrics and the different errors are tracked in order to reduce the frequency as well as the severity of the various incidents.
The Governing Stage: Management of policies as well as compliance across the organisation is done in this stage.
The Adoption Impacts
Upon adoption of the culture of DevOps together with the tools and practices, wonders are achieved.
The efficiency is increased, the collaboration of the team is improved, also there is proper usage of various tools of automation and the deployment of products is done in a continuous manner – and all of this lead to a rapid reduction of time involved between the inception of the product and the final launch in the market
The culture of DevOps is such that it ensures that the team has a focus where the customer is kept at the top of the priority list. By shaking hands with agility, achieving collaboration of team, focusing on the experience of the customers, teams can render valued-added services to customers and gain advantage with respect to competition.
With the adoption of practices associated with continuous improvement deployment of products and services is possible that reflect increased reliability as well as stability.7
The Role of DevSecOps
Security happens to have become an intrinsic part of the lifecycle of software development. DevSecOps makes it a point to see to it that the DevOps team gets a clear understanding about the requirements associated with security and compliance right from the scratch of the development of application and hence are in a state to protect the software integrity in an efficient way. In short, security testing is integrated at each stage of the process of software development and the practice is referred to as DevSecOps which stands for development, security and operations.
The Message That Got Conveyed
That was something about DevOps or the combination of development and operations to ensure that efficiency is increased and also the security factor associated with the software development is enhanced and faster delivery is ensured as compared to traditional methods.
Final Note
It could be concluded that the merging of the development team and the operation team, which is in short DevOps, and is an organisational approach fosters faster application development and also the deployments that are in the existing phase can be easily maintained. The future shall see changes in the various usage of tools and strategies of an organisation, however the very motive behind the concept shall remain the same.
Unblocking The Dormant Potential of Email Marketing
Email can be used as a marketing tool in a strategic way and this could be used for the purpose of communication with potential customers and also for the promotion of products, brand messages and also services and this is what email marketing is with respect to digital marketing. Commercial messages, informative content or even newsletters could be sent in to individuals directly who have expressed their interest in the concerned business.
Playing A Major Role
With the help of email marketing, relationships with potential customers can be established as well as nurtured by ensuring that personalised content that is also relevant is delivered to the inboxes directly. A wider base of customers can be reached and communication can be maintained regularly with them. Also email marketing is capable of driving suitable actions like creation of engagement with brand content, making service subscriptions and so on.
From a broader perspective of digital marketing, email marketing has a significant role to play which revolves around enhancement of other strategies of marketing. We explore in this article the powerful impact of email marketing that drives business growth and ensures overall success of marketing. By making the best use of email marketing, businesses could achieve astounding results. Email marketing could be considered to be a digital marketing service that helps to drive in potential leads.
E-mail Global Communications Connection Social Networking Concept
The Power of Content
Content that is highly personalised can be delivered to subscribers via email marketing. Email lists can be segmented on the basis of preferences of customers, their behaviours and even demographics and accordingly messages can be tailored to specific groups. Personalisation gives a boost to engagement and this happens because it gives a sense of being valued to the customers as they receive content that matches their interest. This in turn leads to a rise in the click-through rates and also the conversions.
Interactive as well as dynamic content can be used to seek the valuable attention of the customers and it would encourage them in taking relevant action. Videos, GIFs, polls and surveys can be used for the purpose of enhancement of the user experience, generation of the ever-valued feedback and also for fostering the process of interaction.
Integration with The Social Media
Email marketing can be integrated with social media and this ensures a better reach and a greater impact of the marketing campaigns. Social media links or buttons can be included in the emails, creating scope for sharing content on the different platforms of social media. This fosters a sense of engagement among the subscribers.
When A/B Testing Comes Into Action
A/B testing helps in the optimisation of the email campaigns and this goes about with comparisons being made between variations and understanding which is more preferable or suits the consumers. Subject lines can be tested and so can the call-to-action links or buttons and these would provide important insights for optimisations to be made in future. Various metrics associated with email campaigns could be analysed like conversion rates, click-through rates and that would create scope for further improvements and refinement of strategies.
Final Words
A powerful tool like email marketing helps facilitate personalised engagement with the target audience. The full potential of email marketing when unlocked could mean great news for business as it would bring in remarkable results in terms of business profit. When done in the proper way, testing and optimisation could deliver great results. Email marketing has a lot to give to business and the dormant impacts shall amplify when the processes are carried out in the right manner.
Ethics To Play An Important Role In The Use Of AI
Just because we can doesn’t mean we should and this is applicable when it comes to dealing with artificial intelligence. It so happens that our dependence on AI in our mundane lives is increasing with each passing day and we tend to overlook the threat it could pose to mankind. It might seem far-fetched but what if AI has some destructive effects over humanity. It is high time that we consider the steps that need to be taken to bring about the ethical development and we should also not forget to learn from the mistakes made in the past and that is how we shall be able to get a proper forecast of the future.
The World and AI
Looking behind, we see that AI has gained enough popularity in the industry. Google and Facebook are taking steps forward in dealing with the advancements associated with machine learning. The world is witnessing innumerable changes with respect to artificial intelligence and machine learning. Yet we are not anywhere close to do anything about the concerns revolving around AI ethics.
There are companies who are making use of the technology of artificial intelligence without having any kind of ethical guidelines which would take care of situations where the machine knows more than we humans understand. Hence it becomes essential to initiate the process of understanding the problems whenever the above mentioned situation arises and begin the process to protect humanity from being destroyed by artificial intelligence.
It is important to discover ways and means to take care of the fact that AI does not begin to threaten human lives. Several systems based on AI like facial recognition are being used in the different sectors of which healthcare is one but it is not known what impacts the technology shall have on mankind in future.
The Advancement Factor
With the continuous advancement of the technologies, our responsibilities to protect humanity should also have that advancement factor in it. It is crucial that we take ethical decisions in relation to our work, which could be in matters of research and development and ensure that machines and humans are just in their right states to perform their respective duties.
The Importance of having the Control in Hand
It is now for the first time that the power of processing data just like humans do is being given to machines by the technology of artificial intelligence. The pace at which machine learning is making progress is well beyond imagination. This could be kind of scary if the controls are not in the hands of us humans.
The Controversy
AI has a lot of good things to give to the world like it is helping healthcare professionals to diagnose diseases, bringing innovations in the field of driving cars and also rendering helping hands in various other fields.
Hence it is a debatable topic when it comes to AI. Decades have passed and people have continued with their argument about the impacts of AI on human lives and also the future of AI. In recent times, there have been many debates revolving around the way to ethically handle artificial intelligence.
Final Thoughts
Ethics happens to be an essential part of human society. Similarly it should play the same important role in the world of technology and particularly AI. It becomes necessary to implement ethics in the execution of AI technology and ensure that we humans control machines and that the reverse does not become true in reality.
Generative AI Brings In Significant Transformations To The Pharmaceutical Industry
There have been rapid transformations in the recent past amidst industries. Right from manufacturing to healthcare, AI has brought in revolutionising changes in different operations. The pharmaceutical industry has been benefited to a great extent by the use of AI particularly in the field of drug discovery as well as development. Our focus in this blog shall revolve around the various uses of Generative AI in the pharmaceutical industry.
The ‘What’ and ‘How’ of Generative AI
Generative AI is all about the use of algorithms for the purpose of generation of new data. The algorithm gives the output on the basis of the input that it receives. The input can be in the form of text or even images as well as chemical structures. A machine learning subset, generative AI makes use of neural networks for the purpose of learning patterns that are there in the input data and generates new data that has similarity with the input data. In the pharmaceutical industry and specifically in the field of drug discovery and development, generative AI has been a boon. Drug discovery gets accelerated with the help of generative AI and this happens with the generation of new molecules that have specific properties and all this leads to the development of drugs in an efficient and faster way.
Generative AI and Drug Discovery
Drug discovery happens to be a complex process that is also time consuming. This process is associated with the screening of innumerable compounds for the purpose of identification of the drug candidates that hold the potential for further development. These molecules can then be used for the purpose of targeting particular diseases or specific conditions and also can undergo further optimization for being more efficient as well as safe.
Fresh and new chemical compounds could be synthesised that have never been there before. New drug discovery, that is what it could lead to and facilitate treatment of diseases that in the present times have no cure.
Innovative Combination of Drugs
With the identification of the drug candidate that holds potential, the step that follows it involves lead optimization where the structure of the drug molecule undergoes modification revolving around various properties of which efficacy is one. Generative AI could be of some help here. Generation of molecules holding similarity with the lead compounds but with enhanced properties is possible with Generative AI.
Making New Improvements
Drug repurposing involves the identification of new uses for drugs that are already in use. Generative AI helps in the generation of molecules that are related to the drugs in use but have different properties. These new molecules could be used in the treatment of other diseases after undergoing tests to prove its potentiality.
Meeting Specific Needs
Personalised medicine is an upcoming area where treatments could be tailored to meet individual requirements of patients considering the genetics and other features. Personalised drugs could be designed that have been optimised for specific populations of patients using generative AI. Outcomes of treatment could be improved and generative AI could help reduce the side effects of drugs by the generation of new molecules that have been tailored to individual characteristics of patients.
So we saw how generative AI could help the pharmaceutical industry in the development of drugs and also in making significant improvements in the treatment of different diseases and the healthcare industry as a whole.
Final Note
The dual combination of Generative AI and pharmaceutical industry seems to have a promising future. The field of drug development and discovery is immensely benefited by this technology.
Digitising the Currency System
Cryptocurrency or crypto has been defined as any kind of digital currency which makes use of cryptography for the purpose of securing transactions. There is no central authority that issues or regulates cryptocurrency. A decentralised system is used for issuing of new units as well as recording the transactions.
A payment system that works digitally, cryptocurrency has been designed in such a way that it does not depend on any banks for the verification of transactions. The system is a peer-to-peer one that permits anyone and from anywhere to receive and also send payments. Unlike physical money that can be carried around and used for exchanges in the real world, cryptocurrency exists in the form of digital entries and the different transactions have their descriptions given in an online database. The funds of cryptocurrency get transferred and the public ledger keeps a record of the transactions. Digital wallets are used for the purpose of storing cryptocurrencies.
Cryptocurrency got its name from the encryption techniques that it uses for the verification of transactions. This implies the fact that advanced level coding is used for the storing and transmission of cryptocurrency in between the digital wallet and the public ledger. The main objective of encryption is to make the transactions safe as well as secure.
Cryptocurrencies are assets that are technology-based and also intangible. The digital wallets are the tools which help in the storage of encryption keys and this gives the owner the link to his or her cryptocurrency and also helps to confirm the very identity of the owner.
There are several risks associated with the use of cryptocurrency. One of them is that they can easily be hacked. Also the storing of cryptocurrencies in digital wallets poses a problem. In case, the digital wallet is lost (it could be the access to the digital wallets or the backups), it implies that the owner loses the entire investment associated with cryptocurrency. Another disadvantage is that cryptocurrencies are stored in digital wallets and they lack the protection that the government provides to the money deposited in bank accounts. The value of cryptocurrency keeps changing so an investment that has a value of thousands of dollars in the present day could have its value reduced to hundreds of dollars.
Despite the risk factors, cryptocurrencies continue to be used today. The most well-known cryptocurrency in use today is bitcoin. Other cryptocurrencies that follow suit are Ethereum, Litecoin and Ripple. The ease with which cryptocurrency can be transferred is a reason as to why cryptocurrencies are being preferred today. Banks and other financial institutions levy heavy charges for maintaining an account, using credit cards. The charges that are applied for the purpose of using cryptocurrencies are comparatively lower and this makes cryptocurrency a perfect choice for different transactions.
The technology of blockchain deserves a mention when dealing with cryptocurrencies. As the name suggests, blockchain refers to a set of blocks that are connected or it also goes by the name of an online ledger. Each block holds a set of transactions and they are verified by the respective members of the network. As per experts, the technology of blockchain holds the capability to serve various industries like for instance the logistics industry.
