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A profile of YouTube CEO Neal Mohan, credited with bulking up its ad and subscription businesses while seeking to crack down on dangerous and misleading videos (Miles Kruppa/Wall Street Journal) May 29, 2023

Miles Kruppa / Wall Street Journal: A profile of YouTube CEO Neal Mohan, credited with bulking up its ad and subscription businesses while seeking to crack down on dangerous and misleading videos  —  Neal Mohan goofs around with creators and woos advertisers to the platform’s short videos and TV offerings

The UK’s CAT said that Apple won an appeal against the CMA’s decision to investigate the company’s dominance in mobile browsers and cloud gaming (Paul Sandle/Reuters)

Paul Sandle / Reuters:
The UK’s CAT said that Apple won an appeal against the CMA’s decision to investigate the company’s dominance in mobile browsers and cloud gaming  —  Apple Inc (AAPL.O) won its appeal against the decision by Britain’s antitrust regulator to launch an investigation into its mobile browser …

Algorithmic Trading Revolutionizes Stock Market Trading in India

Many investors and traders choose stocks as the financial instrument to trade with due to the high-profit potential available. During this trading experience, one must stay aware of the market changes. Like the rise or fall of stock value. Thus, it is important to focus on various factors of algorithmic trading, many of which can change without notice.

For example, customer interest in a company and its services can drop due to many complaints about a product range or other external causes. That can cause a drop in the stock value of the business, causing the stockholders to lose money as their stocks decline in the market. Indeed, the stock market is relatively volatile, so these trades have high risks.

With automated Algorithmic trading solutions like the Options Trading App, the technologies and algorithms in these solutions track, analyze, and predict market changes. Using the algo trading software has many benefits, especially in improving the stock market trading- all are discussed here.

What Does Algo Trading Mean?

Algo trading or Algorithmic trading is the type of process that executes orders as per preset trading instructions to get real-time trading variables, like volume, timing, and cost. The algorithms are sets of directions and complex formulas that allow traders to make financial decisions, like buying or selling stocks/options.

This trading approach involves the usage of computers and programs to measure and execute huge trades using technological software. Overall, the apps and tools with algorithms configured for evaluating the stock and options trading market can quickly track and gather insights.

The software acquires, tracks, measures, and generates reports automatically at prescribed timings. Therefore, these solutions remove the issue of human error during trading practices. Given that, Algo trading as a practice is one of the best Options Trading Strategies to utilize long-term.

Algo Trading Usage in India Now

In India, Algo trading is not a very recent concept, as it was introduced in 2008. Now, it falls under the Securities and Exchange Board of India (SEBI) regulation.

Initially, Direct Market Access (DMA) adopted algorithms mainly for institutional investing. Seeing better execution capacity and cost-saving benefits, traders started using this technique for trading, like Time-Based Options Trading Strategies.

Regarding the exchange market, brokerages started leasing out the co-location server “racks” to broking firms. For this, brokers started adopting Algo trading practices to increase for automating this process, thereby expanding to global markets and increasing the trading speed.

Currently, many top brokerages and stock exchanges utilize DMA software like Options Trading Apps for syncing the systems for the stock trading exchange. In India, Algo trading is advanced, with many businesses focusing on these practices to improve their finances.

Advantages of Algorithm Trading

Companies and experts in India who go for Algorithmic trading initiatives, like using automated options trading platforms like SpeedBot, notice many benefits. The following are some of the best common benefits of pursuing Algo trading.

Increased Trade Analysis Speed

The Algo trading apps have pre-composed algorithms that run the planned guidelines as prescribed. So, unlike manual processing for trades, using the Algo trading solutions will assure you a faster speed for different functions like market analysis, volatility tracking, profit/loss measurement, etc.

HFT Usage

Users opting for Algo trading can utilize the HFT methodology or high-frequency trading. It involves using strong computer programs that follow preset rules to execute large trade volumes. Since advanced algorithms are used, the transactions occur at severely high speed.

Precise Insights

The Algo trading solutions automatically run the values gathered during the analysis through advanced calculations. The software gathers real-time insights about stocks, options, or the instruments one is trading with.

If users calculate all values manually, where mistakes are possible if the person misses a value, makes the wrong calculation, etc. On the other hand, during Algorithmic trading, the computer instantly calculates the results, and the outcomes are more precise.

Time and Cost-Saving

When traders manually trade their assets. They have to constantly keep track of the exchange valuations and market fluctuations for their business sector. This type of constant supervision is not simple to handle since one still needs to focus on other tasks, like business projects, other trades, etc.

On the other hand, the Algo trading software types can consistently track market fluctuations, prepare profit and loss predictions, and more. So, you can focus on other tasks while your assets mature, thereby getting income from both directions.

Ability to Back-Test

Trading experts benefit when they take the time to analyze and predict the performance of a trading model/strategy’s performance after deployment. This process is known as back-testing, and traders use the method to use historical data to measure the profit/loss expectancy, i.e., the total sum the broker can lose or win for each unit of risk.

Based on the results from the back-testing process. Traders can continue with a trading plan or close the account to avoid potentially big losses. This is a major benefit for users of Algo trading apps for back-testing their trading initiatives by comparing historical data with more recent market data.

Handle Diverse Traders

With Algo trading solutions, the users can create and handle many accounts for exchange or use multiple techniques simultaneously. It is easier to manage them all through the interface and carry out other tasks like order production.

What Will Algorithmic Trading Revolutionize and Improve Stock Market Trading in India?

Without a doubt, Algo trading (based in India) is useful for many users who want simple, fast, and progressive trading solutions. With these programs, most of the trade management and monitoring processes become more systematic, efficient, and precise. Given the lack of human errors or emotion-based trade decisions.

So, the future of Algo trading is expected to evolve and benefit the extent of the stock market as it grows alongside it. Currently, Algo trading accounts for 60-70% of daily turnover in Indian markets.

This is expected to grow with time as traders in different stock market divisions start adopting more Algo trading platforms and tools.

Select the Correct Algo Trading Platform

To properly benefit from the uses of Algo trading practices. Traders need to adopt the right type of platform for it. So, one must check the accountability of the platform. They are considering using for Algo trading to avoid service quality issues.

Indeed, you should study the different service providers and Algo trading platforms available online, their features, and their usage quality. Also, check the type of services the platform offers users. The range of exchanges traders can participate in and additional customer support service quality. Based on all these evaluations, one can choose the right tool for Algo trading practices.

Conclusion

To sum up, Algo trading as a practice has existed in India for some time. Albeit in other capacities at the beginning. Given the diverse benefits available through this approach, many traders are adopting these platforms for Algo trading and other trade initiatives.

Thus, the trade markets in India, like the stock market, will improve and modernize with this adoption in the upcoming future.

Featured Image Credit: Photo by Tima Miroshnichenko; Pexels; Thank you!

The post Algorithmic Trading Revolutionizes Stock Market Trading in India appeared first on ReadWrite.

Seattle-based crypto exchange Bittrex shuts down its US operations, saying funds should be withdrawn by April 30, but will continue to operate Bittrex Global (Mat Di Salvo/Decrypt)

Mat Di Salvo / Decrypt:
Seattle-based crypto exchange Bittrex shuts down its US operations, saying funds should be withdrawn by April 30, but will continue to operate Bittrex Global  —  The American cryptocurrency exchange said it was not “economically viable” to continue doing business in the United States.

The Murder of Sonic the Hedgehog is a new, real, and free game you can play right now

Image: Sega

Oh, Mario went missing once? Big deal — Sonic’s just been murdered!

In a very sudden, very confusing surprise, Sega has shadow dropped a new Sonic the Hedgehog game for PC and Mac. The Murder of Sonic the Hedgehog, as baffling as that sounds, is a free murder mystery game on Steam you can download and play right now. The point-and-click adventure puts you amid the Sonic cast on a murder mystery party aboard the Mirage Express to celebrate Amy Rose’s birthday, but — gasp — the game turns out to be real as Sonic is found keeled over, dead on the floor.

Image: Sega
Our beautiful blue boy? He ded.

I’m no fan of silly April Fools’ gags, but I’m all for lighthearted and weird headcanon experiments. So credit to Sega…

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Visual Studio Code 1.77 previews GitHub Copilot chat

Visual Studio Code 1.77, published March 30 as the March 2023 version of Microsoft’s extensible code editor, introduces a preview of deeper integration with the GitHub Copilot AI coding assistant, including inline suggestions and chat capabilities.

The VS Code update also brings TypeScript/JavaScript switch case completions, helping users scaffold out switch statements over literal types in either programming language. Type case inside of the switch statement and accept the suggestion for case … to automatically insert cases for all values of this type. But note this only works when the value being switched over is either a union or literal type.

To read this article in full, please click here

Twitter’s $1,000 checkmark will be free for the 10,000 most-followed companies

Would your company pay $1,000 for Twitter? Some won’t have to make that decision. | Illustration: Alex Castro / The Verge

It seems like some companies may not have to pay Twitter $1,000 a month for the privilege of retaining their verified status and checkmarks. Twitter is giving a free pass to the 500 advertisers that spend the most on its platform as well as the top 10,000 organizations by follower count, according to a report from The New York Times.

The decision comes as Twitter is preparing to make major changes to the way verification works on Twitter. It’s said that it’ll start winding down the legacy verified program in April and announced plans for Twitter Verification for Organizations. The latter is meant to let companies that are willing to pay $1,000 a month keep their verification as well as denote specific accounts as “affiliated.”

For…

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This is what a plant sounds like when it’s stressed

A gardener facing water shortages checks his tomato plants in southern France in August 2022. | Image: PASCAL GUYOT/AFP via Getty Images

New research challenges assumptions that the plant kingdom is silent. Turns out, plants make a lot of noise when they’re stressed.

Other plants and animals might even be able to interpret those sounds. And the ability to listen in could even help humans get smarter about the way we grow our crops, especially in a world where climate change is increasingly stressing us all out.

“Even in a quiet field, there are actually sounds that we don’t hear, and those sounds carry information,” Lilach Hadany, senior author of the paper and an evolutionary biologist and theoretician at Tel Aviv University, says in a press release.

“Even in a quiet field, there are actually sounds that we don’t hear, and those sounds carry information.”

Tomato and…

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A profile of Sam Altman, whose social-minded capitalism may make him the ideal CEO for OpenAI as some say he’s too commercially minded to lead a tech revolution (Wall Street Journal)

Wall Street Journal:
A profile of Sam Altman, whose social-minded capitalism may make him the ideal CEO for OpenAI as some say he’s too commercially minded to lead a tech revolution  —  The CEO behind ChatGPT navigates the line between developing artificial intelligence on the cutting edge and pushing technology to dystopia

See Satellites in Broad Daylight with This Sky-Mapping Dish Antenna

If you look up at the night sky in a dark enough place, with enough patience you’re almost sure to see a satellite cross the sky. It’s pretty cool to think you’re watching light reflect off a hunk of metal zipping around the Earth fast enough to never hit it. Unfortunately, it doesn’t work during the daylight hours, and you really only get to see satellites in low orbits.

Thankfully, there’s a trick that allows you to see satellites any time of day, even the ones in geosynchronous orbits — you just need to look using microwaves. That’s what [Gabe] at [saveitforparts] did with a repurposed portable satellite dish, the kind that people who really don’t like being without their satellite TV programming when they’re away from home buy and quickly sell when they realize that toting a satellite dish around is both expensive and embarrassing. They can be had for a song, and contain pretty much everything needed for satellite comms in one package: a small dish on a motorized altazimuth mount, a low-noise block amplifier (LNB), and a single-board computer that exposes a Linux shell.

After figuring out how to command the dish to specific coordinates and read the signal strength of the received transponder signals, [Gabe] was able to cobble together a Python program to automate the task. The data from these sweeps of the sky resulted in heat maps that showed a clear arc of geosynchronous satellites across the southern sky. It’s quite similar to something that [Justin] from Thought Emporium did a while back, albeit in a much more compact and portable package. The video below has full details.

[Gabe] also tried turning the dish away from the satellites and seeing what his house looks like bathed in microwaves reflected from the satellite constellation, which worked surprisingly well — well enough that we’ll be trawling the secondary market for one of these dishes; they look like a ton of fun.

Thanks again to [Stephen Walters] for the tip.

The 39 Best Movies on Netflix This Week

From Cargo to Okja, here are our picks for the best streaming titles to feast your eyes on.

The best Google Pixel Watch faces

Credit: Kaitlyn Cimino / Android Authority

The Google Pixel Watch has a lot to offer Android users, including a sleek, minimalist design perfect for pairing with a personalized watch face. From native options to third-party picks, we round up the best Pixel Watch faces to add to your device.

How to change your Google Pixel Watch face

To change your watch face right from your wrist, press and hold your current watch face. Then, swipe all the way left and tap Add new. You can also browse and swap watch faces in the Pixel Watch app on your paired phone.

Filings: BlackRock cut the valuation of India’s most valuable startup Byju’s from $22B to $11.5B and Invesco cut Swiggy’s valuation from $10.7B to ~$8B (Manish Singh/TechCrunch)

Manish Singh / TechCrunch:
Filings: BlackRock cut the valuation of India’s most valuable startup Byju’s from $22B to $11.5B and Invesco cut Swiggy’s valuation from $10.7B to ~$8B  —  Some of the biggest Indian startups are taking a haircut in their valuations, at least in the eyes of their investors …

The ‘Truckla’ DIY Tesla pickup truck is still trucking

Simone Giertz pulls up in her freshly detailed and upgraded Truckla. | Image: Simone Giertz

Remember that Tesla Model 3 that was chopped up to make an all-electric pickup truck many years ago? Well, it’s still alive! Inventor and YouTuber Simone Giertz — the self-described “queen of shitty robots” — uploaded a new video on Thursday with an update on how her custom Truckla’s been doing (via Boing Boing).

In the video, Giertz says it’s been four years since the Truckla was built, and since then, she’s been using it as her daily driver. It was never completely finished, though: the custom truck bed was never weather sealed, some trim was still unfinished, and the removable tailgate stopped working.

“She’s a little bit rattle-ly, because the truck bed isn’t welded in,” Giertz explained in the video. She also has to baby the car…

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Twitter open sources a portion of its code on GitHub, including its algorithm for recommending tweets in For You but excluding its ad recommendation algorithm (Kyle Wiggers/TechCrunch)

Kyle Wiggers / TechCrunch:
Twitter open sources a portion of its code on GitHub, including its algorithm for recommending tweets in For You but excluding its ad recommendation algorithm  —  As repeatedly promised by Twitter CEO Elon Musk, Twitter has opened a portion of its source code, including the algorithm it uses …

Email: The White House will not pay for Twitter Blue for its staff; the White House and top officials’ accounts like POTUS will likely maintain gray checkmarks (Sara Fischer/Axios)

Sara Fischer / Axios:
Email: The White House will not pay for Twitter Blue for its staff; the White House and top officials’ accounts like POTUS will likely maintain gray checkmarks  —  The White House will not pay to have its staff’s official Twitter profiles continue to be verified, according to guidance issued to staffers via an email obtained by Axios.

Move Aside Yoda, it’s Furby’s Turn On Luke’s Back

When you want a backpack that turns heads and gets people talking, you can get ahead of the conversation with a talking backpack. [Nina] created a rucksack with the legendary babbler itself, the infamous Furby.

Believe it or not, no actual Furbies were sacrificed in the making of this backpack. The build uses an Arduino Nano, two servos, and a DFPlayer Mini for audio. A 3D printed faceplate is used for the iconic eyes and face. The code is fairly simple, waiting for a random delay and then triggering one of four effects. It can play a sound or blink and does its best to move the mouth while the sound is playing thanks to the handy busy line coming off the sound module. A unicorn children’s backpack offered a furry shell to stuff the electronics inside. A custom PCB makes the whole thing just a little neater internally.

Perhaps next [Nina] can integrate voice recognition so that the backpack can answer simple questions like an Alexa-powered Furby we’ve seen before.

GM plans to drop Apple CarPlay and Android Auto support in future EVs, using a Google infotainment system to capture more data and inform subscription launches (Andrew J. Hawkins/The Verge)

Andrew J. Hawkins / The Verge:
GM plans to drop Apple CarPlay and Android Auto support in future EVs, using a Google infotainment system to capture more data and inform subscription launches  —  General Motors’ electric future doesn’t include Apple CarPlay or Android Auto.  —  The automaker’s upcoming lineup …

Apple suffers setback as GM plans to phase out Apple CarPlay with Google’s help

Credit: Apple

General Motors and Google are working on designing onboard navigation and infotainment systems for future GM electric vehicles.
Future GM EVs will no longer offer Apple CarPlay or Android Auto.
Apple CarPlay and Android Auto will still be offered on GM’s combustion vehicles.

The biggest manufacturer of cars in the US, General Motors (GM), is thinking about the future of its electric vehicles (EV). And it looks like Apple CarPlay nor Android Auto will play a part in that future.

As reported by Reuters, GM is planning to halt support of Apple CarPlay and Android Auto in its future EVs. Instead, the automaker will design onboard navigation and infotainment systems with the help of Google. This change is expected to start with the launch of the 2024 Chevrolet Blazer.

Twitter takes its algorithm ‘open-source,’ as Elon Musk promised

Illustration by Alex Castro / The Verge

Twitter has released the code that chooses which tweets show up on your timeline to GitHub and has put out a blog post explaining the decision. It breaks down what the algorithm looks at when determining which tweets to feature in the For You timeline and how it ranks and filters them.

According to Twitter’s blog post, “the recommendation pipeline is made up of three main stages.” First, it gathers “the best Tweets from different recommendation sources,” then it ranks those tweets with “a machine learning model.” Lastly, it filters out tweets from people you’ve blocked, tweets you’ve already seen, or tweets that are not safe for work, before putting them on your timeline.

The post also goes in-depth to each step of the process. For…

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Hackaday Podcast 212: Staring Through ICs, Reading Bloom Filters, and Repairing, Reworking, and Reballing

It was quite the cornucopia of goodness this week as Elliot and Dan sat down to hash over the week in hardware hacking. We started with the exciting news that the Hackaday Prize is back — already? — for the tenth year running! The first round, Re-Engineering Education, is underway now, and we’re already seeing some cool entries come in. The Prize was announced at Hackday Berlin, about which Elliot waxed a bit too. Speaking of wax, if you’re looking to waterproof your circuits, that’s just one of many coatings you might try. If you’re diagnosing a problem with a chip, a cheap camera can give your microscope IR vision. Then again, you might just use your Mark I peepers to decode a ROM. Is your FDM filament on the wrong spool? We’ve got an all-mechanical solution for that. We’ll talk about tools of the camera operator’s trade, the right to repair in Europe, Korean-style toasty toes, BGA basics, and learn just what the heck a bloom filter is — or is it a Bloom filter?

Check out the links below if you want to follow along, and as always, tell us what you think about this episode in the comments!

Download your own personal copy!

Where to Follow Hackaday Podcast

Places to follow Hackaday podcasts:

Google Podcasts
iTunes
Spotify
Stitcher
RSS

Episode 212 Show Notes:

News:

The 2023 Hackaday Prize Is Ten, First Challenge Is Educational
Hackaday Berlin Was Bonkers

What’s that Sound?

Interoperable Randomness Beacons
Elliot’s NIST-fueled random number generator script, as used on Hackaday.
Congrats to [GUI Louie] for guessing the impact driver!

Interesting Hacks of the Week:

Creating A Game Boy ROM From Pictures
[Bunnie] Peeks Inside ICs With IR

An example of Shahriar’s X-ray teardowns

Clever Mechanism Powers This All-Mechanical Filament Respooler

DX mechanism – YouTube

Bus Stop Bloom Filter

Bloom Filters
Bloom Filters by Example

Who Needs Gasoline When You’ve Got Sodium?

Mining And Refining: Sulfur

Kino Wheels Gives You A Hand Learning Camera Operation

Pro camera pan-tilt head — funny how it popped up in my feed

A Survey Of Long-Term Waterproofing Options

This Way To The Ingress: Keeping Stuff Dry And Clean With IP And NEMA

Quick Hacks:

Elliot’s Picks:

Robot 3D Prints Giant Metal Parts With Induction Heat
Long-Distance Gaming Over Packet Radio
Magic 8 Ball Provides Tech Support

Dan’s Picks:

Ondol: Korean Underfloor Heating
Enormous Metal Sculpture Becomes An Antenna
The Keychain 6809

Can’t-Miss Articles:

Europe’s Proposed Right-To-Repair Law: A Game Changer, Or Business As Usual?
Working With BGAs: Soldering, Reballing, And Rework

Fail Of The Week: Hackaday Writer Attempts XBox Repair

Vampire Survivors’ new fantasy-themed expansion launches in April for just $2

Image: Poncle

Vampire Survivors is getting a second expansion, and like the previous one, it will cost $2. The new fantasy-themed DLC, Tides of the Foscari, includes eight new characters, 13 weapons, and a new stage, and it comes out on April 13th.

Developer Poncle is already teasing characters like a mage and a swordsman as well as weapons like a spellbook and a sword named “Eskizzibur.” I can’t wait to try out all of the new additions — I’m sure they’ll all be unbelievably broken in some delightful ways.

The new level looks like a lot of fun, too. Like with the first expansion, Legacy of the Moonspell, it’s a really big map with many separate areas, including the mysterious Lake Foscari taking up a good chunk of one corner. You can check out the new…

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Google updates Bard by incorporating some of its PaLm models to better answer math and logic questions and promises that coding capabilities are “coming soon” (Abner Li/9to5Google)

Abner Li / 9to5Google:
Google updates Bard by incorporating some of its PaLm models to better answer math and logic questions and promises that coding capabilities are “coming soon”  —  To date, Bard has used LaMDA (Language Model for Dialogue Applications), which is focused on conversational dialogue …

Why A Community Hackerspace Should Be A Vital Part Of Being An Engineering Student

Travelling the continent’s hackerspaces over the years, I have visited quite a few spaces located in university towns. They share a depressingly common theme, of a community hackerspace full of former students who are now technology professionals, sharing a city with a university anxious to own all the things in the technology space and actively sabotaging the things they don’t own. I’ve seen spaces made homeless by university expansion, I’ve seen universities purposefully align their own events to clash with a hackerspace open night and discourage students from joining, and in one particularly egregious instance, I’ve even seen a university take legal action against a space because they used the name of the city, also that of the university, in the name of their hackerspace. I will not mince my words here; while the former are sharp practices, the latter is truly disgusting behaviour.

The above is probably a natural extension of the relationship many universities have with their cities, which seems depressingly often to be one of othering and exclusion. Yet in the case of hackerspaces I can’t escape the conclusion that a huge opportunity is being missed for universities to connect engineering and other tech-inclined students with their alumni, enhance their real-world skills, and provide them with valuable connections to tech careers.

Yesterday I was at an event organised by my alma mater, part of a group of alumni talking to them about our careers.  At the event I was speaking alongside an array of people with varying careers probably more glittering than mine, but one thing that came through was that this was something of a rare opportunity for many of the students, to talk to someone outside the university bubble. Yet here were a group of engineers, many of whom had interesting careers based locally, and in cases were even actively hiring. If only there were a place where these two groups could informally meet and get to know each other, a community based on a shared interest in technology, perhaps?

It’s not as though universities haven’t tried on the hackerspace front, but I’m sad to say that when they fill a room with cool machines for the students they’re rather missing the point. In some of the cases I mentioned above the desire to own all the things with their own students-only hackerspace was the thing that led to the community hackerspaces being sabotaged. Attractive as they are, there’s an important ingredient missing, they come from a belief that a hackerspace is about its facilities rather than its community. If you were to look at a room full of brand-new machines and compare it with a similar room containing a temperamental Chinese laser cutter and a pair of battered 3D printers, but alongside a group of seasoned engineers in an informal setting, which would you consider to be of more benefit to a student engineer? It should not be a difficult conclusion to make.

Universities value their local tech industry, particularly that which has some connection to your university. You want your students to connect with your alumni, to connect with the local tech scene, and to ultimately find employment within it. At the same time though, you’re a university, you see yourselves as the thought leader, and you want to own all the things. My point is that these two positions are largely incompatible when it comes to connecting your engineering students with the community of engineers that surround you, and you’re failing your students in doing so.

Thus I have a radical proposal for universities. Instead of putting all your resources on a sterile room full of machines for your students, how about spending a little into placing them in a less shiny room full of professional engineers on their off-time? Your local hackerspace is no threat to you, instead it’s a priceless resource, so encourage your students to join it. Subsidise them if they can’t afford the monthly membership, the cost is peanuts compared to the benefit. Above all though, don’t try to own the hackerspace, or we’re back to the first paragraph. Just sometimes, good things can happen in a town without the university being involved.

GM is cutting off access to Apple CarPlay and Android Auto for its future EVs

The 2024 Chevy Blazer EV will be the first GM vehicle to restrict access to Apple CarPlay and Android Auto. | Image: GM

General Motors’ electric future doesn’t include Apple CarPlay or Android Auto.

The automaker’s upcoming lineup of electric vehicles won’t support the popular smartphone projection systems in favor of a native Google infotainment system. The move, first reported by Reuters, means that owners won’t be able to project their phone’s screen on their vehicle’s dashboard infotainment display.

The decision is intended to provide “seamless access” to the new Google-powered infotainment experience, including native versions of Google Maps, Google Assistant, Audible, Spotify, and more, GM says in a fact sheet explaining the new strategy.

“As a result of this strategic approach, we will be moving beyond phone projection systems, namely Apple…

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How AI Overcomes the Professional Services Industry’s Challenges

The rise of technology-based business models is disrupting market dynamics, intensifying competition, and transforming the landscape of the professional services industry. Professional services firms must incorporate technologies like Artificial Intelligence (AI) and Machine Learning (ML) to enhance agility and streamline workflows.

Adopting technology can help businesses effectively manage resources — accurately bid on projects, and upgrade their processes to stay relevant and become future-ready.

The recent Global AI Adoption Index 2022 survey revealed that 35% of companies reported using AI in their business, and an additional 42% reported that they were exploring AI technologies.

Professional services organizations that implement AI can easily analyze real-time data across multiple functionalities to identify market gaps, forecast project estimates, automate back-end processes and thereby gain a competitive advantage.

This article will help professional services organizations understand how AI can boost their competitiveness and help them tackle industry challenges.

Key Challenges Faced by Professional Services Organizations and Where AI Can Help

Professional services organizations face various unique challenges, like managing increasingly complex projects. And identifying and addressing revenue leakage. Also, many professional services organizations use siloed legacy systems.  These disconnected systems result in fragmented information, incomplete status reports, overbilling customers, inefficient use of resources, and uncertainty about project costs and profitability.

AI-powered professional services automation (PSA) solutions can help organizations gain real-time visibility and insights into critical metrics like work-in-progress, backlog data, utilization, and margins, without any manual intervention. AI-based PSA platforms also enable effective resource utilization across locations and projects by identifying gaps that may cause a resource crunch or project delays.

AI technologies can help professional services organizations:

Improve employee utilization rates
Avoid scope creep and revenue leakage
Retain top talent
Create more profitable projects and improve margins
Improve customer satisfaction and retention

What Is AI?

AI is the simulation of human intelligence processes that allows machines to perceive environments, comprehend ideas, learn from experience, solve complex problems, adjust to new input, and augment human capabilities.

Three things differentiate AI from everyday software:

AI can calculate and learn from data accurately
AI can perform tasks intelligently without explicit instructions
AI can reason and act humanely

By combining these abilities, artificial intelligence provides greater accuracy than other types of software and can accomplish tasks that would otherwise require humans.

Impact of AI on the Professional Services Industry

Artificial Intelligence is changing the way the professional services industry interprets insights, optimizes operations, and future-proofs their enterprises. Professional services firms can utilize AI-based technologies to aggregate data, predict customer analytics, and make automated business decisions while reducing the time spent on repetitive tasks.

AI also allows organizations to focus on areas that require critical thinking skills and can help create a value-based system.

Professional services organizations that fail to leverage AI will be hamstrung by manual processes and will likely experience volatility.

How AI Can Help Professional Services Organizations

Artificial Intelligence can drastically increase business efficiency by automating repetitive tasks, accurately projecting budgets, and offering an additional layer of security. Plus, incorporating AI into daily business processes helps professional services firms expedite projects.

Organizations that understand the potential of AI technologies and incorporate them into their business can improve operations in the ways outlined below.

Improve Resource Utilization

Improving resource utilization can directly impact the growth of a professional services company. In the post-pandemic workplace ecosystem, a business’ resources are often spread around the globe — making it difficult for the company to monitor and effectively manage them.

The resulting lack of oversight causes projects to underperform, sometimes with serious consequences, such as revenue loss, quality issues, and client dissatisfaction.

By incorporating AI, professional services organizations can ensure that resources maximize their billable time across projects. AI-powered software such as Polaris PSA can help PSOs easily determine whether their resources are available to take on new projects or if they need to hire more resources to meet demand.

Retain Top Talent

In today’s world, it is increasingly difficult to retain top talent. Lack of career growth opportunities, poor work-life balance, and low compensation are the most common reasons why workers resign. High attrition can lead to massive organizational costs while adversely impacting productivity and revenue. All companies need to focus on retaining talent. Many businesses will need a PSO (professional service organization firm).

AI-powered systems can aid in talent retention in several ways. They can:

Enhance the employee experience by automating mundane tasks that may lead to burnout or poor performance
Analyze which employees are most likely to leave and suggest potential resolutions
Combine flexible scheduling with strategic workforce planning to promote better employee work/life balance
Recognize when employees are facing difficulties or spending most of their time on one task, so the company can find effective ways to resolve the employee’s concerns

Avoid Scope Creep

Project scope creeps undoubtedly poses one of the greatest challenges for professional services firms. Lack of planning, poorly defined requirements, and inefficient monitoring can lead to project scope creep. This results in cost overruns and timeline delays, as well as a decrease in customer satisfaction, which can derail a project.

To tackle scope creep effectively, it is important to keep track of metrics such as hours worked, project status, and completion date. An effective AI system provides PSOs with an in-depth view of their projects and helps them track those metrics in real-time. This data allows firms to take action and improve forecasting before scope creep becomes a problem.

AI-powered solutions allow professional services firms to create clear project schedules, predict milestones, accurately project deliverables, forecast project efficiencies, and mitigate scope creep risk. All these parameters help improve and optimize the project, benefitting the professional services organization in the long run.

Optimize Efficiency and Margins

Professional services firms often struggle to gain visibility into their day-to-day processes. Spreadsheets, paper trails, manual entries, and other siloed processes can no longer track productivity, revenue, and other critical business metrics accurately. In addition, with increasing project complexity, PSOs often struggle to manage projects, time, resources and costs efficiently. To overcome these issues, professional service firms need actionable data.

With AI-based solutions, PSOs can unite all project data, productivity metrics, and billing information, then analyze this data to find solutions that optimize workflow efficiency and increase margin. Investing in an AI solution that is configurable, scalable, and flexible can help a professional services organization stay on top of its game and improve its overall operations.

Conclusion

Professional services organizations need the right people, projects, processes, and skills to improve their operations and optimize productivity. Implementing AI helps professional services organizations improve resource utilization, retain top resources, optimize productivity and increase overall efficiency while allowing them to stay on the right track.

Featured Image Credit: Photo by Karolina Grabowska; Pexels; Thank you!

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