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Smart ways that artificial intelligence is detecting and curbing fraud

posted Dec 5, 2018, 2:46 PM by Arnon Dror

Billions of dollars are lost every year to cybercriminals who use either stolen credit or debit cards, get hold of personal data or information, or create fraudulent accounts. Technology is taking the lead in stopping these criminals in their tracks, with innovations such as artificial intelligence (AI) to detect their activities early on and drive down losses to customers, businesses, and the economy as a whole.


Prior to the advent of AI fraud detection systems, merchants, as well as card issuers, depended on hundreds of rules to determine whether an online transaction would be approved. But AI proves to be a game changer in how it’s particularly adept at helping companies organize and analyze unstructured data. In business, the vast majority of data is unstructured, including materials such as emails, multimedia files, and application documents.


Combining human instinct with the accuracy and efficiency of AI tools can assist investigators in analyzing, interpreting, and then unearthing relationships in enormous data sets. This way, fraud can be quickly and effectively uncovered, and a criminal deed can be stopped even before it sets off.


These tools also allow companies to surface suspicious patterns or relationships that are invisible even to experts. Artificial neural networks, for instance, link millions of data points from seemingly unconnected databases that contain everything from social media posts to IP addresses to tax returns. They then identify patterns that are useful to see red flags in people or transactions.


While cybercriminals have managed to keep up and develop their own AI systems to perpetrate their old crimes, the good guys are at least already a step ahead and can bank on this advantage to keep the momentum and nip fraudulent acts in the bud.


Arnon Dror has worked as an executive for various finance companies in the past. He is also a trusted advisor to company leadership with strength in analyzing and presenting solutions and recommending strategic decisions. For more articles like this, visit this blog.

How are voice assistants changing lives today?

posted Nov 6, 2018, 2:14 PM by Arnon Dror

Voice assistants have become a trend in the tech market today. They are often sold with peripherals such as a hub that can interact with several smart devices in your home or office. In terms of marketing these products, companies show that these tools can do more than just play your favorite song or turn on your lamp. Here are some ways on how voice assistants are changing lives today.


Ease of everything

Imagine the ease of using a Google search through voice commands and every result is accurate. Just one question and you get a direct answer, exactly what you needed. This major time saver brings a level of comfort and ease to a whole new level. Before, you would have to go online and go to a store’s website (if they have one) or other links just to check if the restaurant you are going to is still open. With voice assistants, just ask what you need, and their answers are pretty much spot on.


Safe multi-tasking capabilities


Laptops, desktops, and phones are visual aids when they come to getting information. But in some cases, those visual aids can be a deterrent. For example, looking at your phone while driving is not a safe practice. With voice assistants, you can focus on the road while asking for directions.


User friendly

Voice assistants aren’t just for millennials. A big chunk of users actually come from the previous generations and can properly harness the uses of voice assistants. These systems also make life a lot easier for people with disabilities who are unable to perform certain tasks.


ArnonDror leads with expertise in finance and strategy planning, financial and business modeling, systems and technology, turnarounds and mergers, internal controls, negotiations, and cash flow management. To read more about the latest in technology, click here.

AI-powered stores: Real-life uses and applications of robots in retail

posted Oct 10, 2018, 8:28 AM by Arnon Dror

Robots in retail can be quite easy to overlook in brick-and-mortar stores or along the aisles of a big supermarket. In reality, however, the whole retail experience today benefits from robotics and its associated technologies such as machine learning to organize stocks, speed up customer service, and do both with accuracy. Here are some ways that AI and robots work in mysterious ways in retail today.


Robots have found their way in sales and CRM applications. Back in 2010, Japan’s SoftBank partnered with a French robotic manufacturer, Aldebaran, to develop Pepper the humanoid robot, who can interact with customers and even “perceive human emotions.” It’s used as a customer service greeter as well as representative in SoftBank’s mobile stores. Conversica “sales assistant” software, on the other hand, is created to automate and enhance sales operations processes, identifying and conversing with online leads.


Customer service is also made more interesting by robots. Lowe’s LoweBot helps customers find items they are searching for. Shoppers can ask the robot, through speaking or using a touchscreen, where to find certain products inside the store, as well as basic customer service inquiries. In 2016, discount store chain Target tested Tally to track product inventory on the shelves. Other in-store robot assistants are able to direct traffic and perform crucial roles such as inventory management, freeing up human staff to work on more complex tasks.


Robots are also instrumental in providing customer recommendations. Clothing brand North Face, for instance, has adopted the cognitive computing technology rolled out by IBM Watson to help their customers determine what jacket is best for them, based on variables such as location and gender preference.


Finally there’s warehousing and delivery, areas where robots ease the pressure on retailers through improved logistical functions that can otherwise be time-consuming. They are deployed in smart warehouses to move huge volumes of items through storage systems quickly and reliably, while constantly tracking the exact location of every item.


Arnon Dror leads with expertise in the areas of finance including accounting, treasury, FP&A, M&A; operations which include IT, business processes, legal, supply chain, and more. He keeps an eye on the newest technologies, especially gadgets and cars, and is a fan of Amazon. Read similar articles on this site.

Remembering the once cutting-edge advancements in medical technology

posted Sep 28, 2018, 12:53 PM by Arnon Dror

Technology has benefitted so many industries throughout history, so much so, that almost everyone now enjoys a better quality of life in one way or another. One of the industries that this is most prevalent in is the healthcare and pharmaceutical industry.


Below is a look back at some of these once cutting-edge advancements.


Antibiotics

Perhaps one of the most important discoveries in the past two centuries, the emergence of antibiotics has led to more than just a quicker and more reliable way to cure diseases. Because of antibiotics, doctors were able to have a better grasp of illnesses and infections, which in turn allowed them to develop more efficient ways of helping patients. What once were untreatable problems suddenly became manageable.


Anesthetics

No other discovery was bigger for pain management than anesthesia. Its arrival in the 19th century ushered in a new age in surgery as surgeons could now take more time, and more importantly, more care in their procedures. The incidence of amputations dropped as the act of carefully removing tissues eventually became the standard.


Sanitation

While encompassing several industries, sanitation has been a huge part of the medical industry as well. Doctors and researchers over the ages have studied water supplies and garbage areas, looking for ways to keep the various causes of disease at bay. Many of their studies have become the basis for today’s sanitation and health standards, especially in highly urbanized areas.


Arnon Dror is a seasoned Senior Operations Executive Consultant who leads with expertise in finance and strategy planning, systems and technology, financial and business modeling, turnarounds and mergers, negotiations, internal controls, and cash flow management. For related posts, click this link.


Why Companies Should Invest In Cutting-Edge Technology

posted Aug 9, 2018, 5:01 AM by Arnon Dror   [ updated Aug 9, 2018, 5:02 AM ]

In October 2017, the world’s largest retailer and one of the biggest Internet companies, Alibaba, launched its “DAMO Academy” initiative. DAMO stands for “Discovery, Adventure, Momentum, and Outlook.” Its primary goal is to invest billions of dollars into extensively exploring cutting-edge technology, including artificial intelligence, data intelligence, quantum computing, Internet of Things, human-machine interacting, and more.

Image source: mckinsey.com

Alibaba is just one of the many companies turning their attention to the latest innovative technologies to discover breakthroughs and employ these in the expansion of their own businesses and into other industries.

Smaller companies and businesses are predicted to follow suit because of the various benefits of such an investment.

  • Technology fosters productivity. With helpful technologies at their disposal, employees can accomplish tasks more efficiently. Some technological innovations can also allow remote access or work, which has generally improved productivity and efficiency, based on research. 
  • Technology promotes better interaction with customers. Consumers are becoming more digital and smarter by the day, especially with the abundance of online resources keeping them updated about the latest technologies. In order to be in the same page as customers, companies should consider investing in technology.
  • It gives a competitive edge. One of the best reasons to invest in technology is that it provides companies a competitive weapon over industry rivals. 

Image source: techprevue.com

Renowned technology executive Arnon Dror keeps himself abreast of the latest and future technologies. Visit this blog to read more about them.

Jayson and Jaylen, and their unlimited potential

posted Jul 9, 2018, 12:19 AM by Arnon Dror   [ updated Jul 9, 2018, 12:20 AM ]

Even when they emerged as the Eastern Conference’s second-best team in the regular season, the Boston Celtics had a rough year altogether, losing their prized forward, Gordon Hayward in literally the first game of the season, and their superstar, Kyrie Irving later on. And when so many casual fans were counting them out of the playoffs, the unthinkable happened. Everyone on the team stepped up, led by genius coach Brad Stevens. 

Image source: inquisity.com

Throughout the amazing playoff run of the Celtics, it was their two youngest stars who would share the spotlight and deliver game after game. Sophomore standout Jaylen Brown and rookie sensation Jayson Tatum were the one-two punch that brought thrill and excitement to the games. 

Both players, barely in their 20s, showed extreme poise and athleticism as they would go on to make key plays throughout the playoffs. Brown would lock down opposing scorers and Tatum would make baskets late into the game, when the Celtics needed them. They were playing at the highest level as though they’ve been playing there for half their lives. 

Brown has been touted as the season’s Most Improved Player, while Tatum was a Rookie of the Year finalist, losing to Ben Simmons. 

With what fans have seen these playoffs, hopes are high for the Celtics’ future. 

Image source: nba.com

Arnon Dror has extensive experience in finance and strategy planning, financial and business modeling, systems and technology, turnarounds and mergers, internal controls, negotiations, and cash flow management. Learn more about him and his work by checking out this blog.

Personal finance habits that can save you money

posted May 30, 2018, 4:31 AM by Arnon Dror   [ updated May 30, 2018, 4:31 AM ]

Spending habits are what makes or breaks one’s finances. It doesn’t matter if you earn big if you have inherent spending problems that deter one from saving money. This can also help or make debt situation much worse. Here are some personal finance habits that can save you money. 

Image source: expertbeacon.com

First, never spend more than you earn. It’s a common rule, but with credit cards and other convenient ways of making purchases, people tend to forget this. Even if you spend $50 on a pair of shoes that used to be $150, it wasn’t a $100 savings but a $50 spending. If you hardly save money because of expense you can’t avoid like rent, then consider finding a new home or maybe a change in employment with better compensation. 

Avoiding debt is also a habit that can give you more money over time. Any purchase that requires you to pay for the item at a later date or through monthly fees should not be considered. A good rule of thumb is to ask yourself “Can I buy this item using cash?” If the answer is no, then put the item down and walk away. 

Lastly, try to save as much money as you can. Even if it means one less fancy coffee every week, these things add up. The more you audit your spending, the less you’ll find yourself with unnecessary purchases. 

Image source: entrepreneur.com

ArnonDror leads with expertise in the areas of finance including accounting, treasury, FP&A, M&A; operations which include IT, business processes, legal, supply chain, and more. He is involved in real estate investments, cybersecurity, and printing industry. He is the current Senior Operations Executive of Janus Technologies To read more insightful articles on personal finance, visit this blog.

How Virtual Reality Changes The Workplace

posted Apr 16, 2018, 11:52 PM by Arnon Dror   [ updated Apr 16, 2018, 11:53 PM ]

The virtual reality (VR) market is estimated to be worth a cool $30 billion by year 2020.  Tech giants such as Facebook, Google, and Samsung have made significant investments in VR hardware, software, and content to be ahead of the game and leverage on this potential.  But how will VR change the everyday workplace?

Closes geographical gaps

It’s now possible to spread out geographically and get work down from practically everywhere.  Telepresence and high-tech conference technologies via VR only take this to the next level and enhance communication and close collaboration. 

Image source: Entrepreneur.com   


Produces safe, controlled testing environments

VR helps eliminate risk from testing and training by fostering safe, predictable, and well-equipped environments for learning new skills and producing trained hands and minds.  In medicine, VR helps in testing new methods and building new prototypes without exposing workers to unnecessary laboratory risks. 

Creates data virtualization

With today’s businesses increasingly becoming data-driven, VR converts data into engaging, available, and actionable information.  From the usual charts and graphs, visualization can support improved collaboration and decision-making. 


Image source: WSJ.com 

Lowers customer service costs

With VR and remote technology, customers can troubleshoot issues on their own and therefore lower the expense needed to serve them.  For instance, VR could facilitate furniture assembly, dispensing with the need to print out thick wads of instructional materials and having these replaced by a short virtual reality clip. 

Arnon Dror is a Senior Operations Executive. He has worked with companies such as Scitec, Xerox, Kodak, Presstek, and Creo, where he held executive positions and led various initiatives such as business turnarounds and mergers. Read more about his industry on this site.

Here are ways to prepare your staff for a merger or acquisition

posted Mar 21, 2018, 3:42 AM by Arnon Dror   [ updated Mar 21, 2018, 3:43 AM ]

If your company has been bought out by a larger one or you are poised to take over a smaller firm, your staff may be wondering what will happen next and how to go about the changes that will follow.Here are some ways that the company leadership could prepare their staff and assuage any unwarranted fear or worry. 

Image source: Pixabay.com 


Enhance communication 

When the staff is starved for information, they will likely fill the gaps on their own and rumors could develop and spread as a result. Reduce anxiety and fears by keeping employees informed. Send them regular status updates about the M&A, and set up town hall meetings where they can ask questions. 

Operate on honesty 

Don’t lead people on when it comes to their future employment or job security. If your company is being acquired, be open to the possibility of positions that could be eliminated. If your company is taking over a company, explain, too, that some roles could change. 

Promote integration 

If merging teams or organizations, put steps in place to successfully marry the cultures of each group, leading to the adoption of a set of shared values and practices. 

Establish a post-transition plan 

In the months following the M&A, keep staff performing optimally by monitoring their efforts and providing relevant feedback, rewarding positive behaviorsand excellent performance, and continuing to keep them informed of ongoing changes. 

Promote resilience 

Support employees to develop the ability to be flexible and responsive to work demands and changes. Developing resilience also means developing mutual respect, trust, and collaboration.

Image source: Pixabay.com 

ArnonDroris the Senior Operations Executive of Janus Technologies, a company providing an innovative architecture for enterprise security solutions. In the past, he held executive positions and led various initiatives such as business turnarounds and mergers. For more on Arnon, clickhere.

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