Techfastly-November

November | 2020

Vidit Gujrathi’s Journey in leading the Indian chess team to winning the Chess Olympiad 2020 gold medal.

The Impact of Automation on the Future of Work And Beyond Pg. 17 COVID-19 Misinformation - Your Guide to Spotting It Pg. 14

Exploring the future of technology and globalization with

1 | November | Techfastly | 2020

Louis Camassa

Understanding Digital Currency and It’s Market

In Conversation with

Techfastly Team | Pg.4

Pg.10

Apps to Download for Better Financial Planning Techfastly Team | Pg.7 Investing in Technology Techfastly Team | Pg.30 2 | November | Techfastly | 2020

Vidit Gujrathi Louis Camassa Pg.22 The Impact of Automation on the Future of Work And Beyond | Sandeep Trichal Pg. 17| EnChroma Glasses Bring Color to Your Life | Venkatesh Pg.28|

A note from the editor Dear readers, I hope you are safe and well. I’m glad to bring you a new edition of the Techfastly magazine for the November issue. I’m thrilled to inform you that we’re now diversifying our content portfolio by bringing in important voices from various industries for insights and in-depth conversations. We have interviewed India’s grandmaster and chess captain Vidit Gujrathi, who has recently led the Indian team to the FIDE Online Chess Olympiad 2020 gold medal. We discussed how it’s different to play such high stakes matches online and how to keep the team moral virtually. His insights will be of great value to you.

We also spoke with thought leader, LinkedIn influencer, and entrepreneur, Louis Camassa about how this Pandemic has created newer opportunities; and what kinds of threats and technological changes can be expected in the next few years. It was an enjoyable free-flowing conversation and the best thoughts of Louis were, luckily, captured. I’m proud to present the interview to you all.

Additionally we also present articles on how Enchroma glasses can bring colors to your life and how you could spot prevalent Covid-19 misinformation online. There is

another article on the impact of automation on the future of work, which is highly relevant in today’s times. I thank our lovely team of writers for contributing these highquality articles. I also thank Vidit and Louis for taking time out to talk with us.

Enjoy reading the magazine.

We’re constantly striving to bring you great content.

Because you deserve it.

Thanks Srikant

Srikant Rawat Chief Operating Officer Techfastly 3 | November | Techfastly | 2020

Techfastly Team

“ Ethical hackers are seriously in demand, especially by organizations with extensive IT infrastructure for their operations “.

Understanding Digital Currency and It’s Market

T

here was a time when the traditional paper currency ruled the financial market, but not anymore. The discovery of bitcoins, the first-ever digital coins in 2009, changed this trend forever. Now, you can access multiple digital currencies that you can use for business, shopping, investment, and a lot more.

However, before you can take advantage of this modern world miracle, you need to understand how it functions. This post will help you with this aspect right from the start to the end.

4 | November | Techfastly | 2020

What is Digital Currency?

Digital currency also popular as e-money, and digital money is a type of online database that you can use for financial transactions. They have a centralized system that helps you buy these assets, store them, and redeem at any time without moving from your desk.

The currency was a part of the society from the 90s as an alternative for the standard paper currency.

However, the online network and security issues of that era prevented it from becoming a mainline currency. Satoshi’s blockchain technology changed the scenario.

It used a centralized system where all the changes were real-time, and the users could access them without the barriers of location or time. The blockchain technology also helped to encrypt the transfer data to prevent hacking issues. These new features made the digital currencies a mainline option and established it as a profitable future investment.

Which Currencies Should You Invest In? There are more than 1600 digital currencies in the market, and the numbers are still rising. However, not all of them are equally profitable, which means you need to check and compare their market value before investing in them. Here’s a list of the top 3 currencies of the present market.

Bitcoins Since its start in 2009, Bitcoins has been one of the most successful digital currency, and for good reasons. The new currency removed every barrier that was preventing the digital currency trend from taking over the world. It not only introduced a new concept but also gave a new technology that is now the base of multiple asset and data management systems.

The currency used a network of information blocks that enable it to store data in a manner that it is accessible from any part of the world.

These blocks also ensure that the information and the funds that you save stay safe all the time. Satoshi’s node network system further proved great in terms of speed. It could write, edit, or delete any data from the block in real-time.

Another thing that makes it the most preferred currency was its profit 5 | November | Techfastly | 2020

values. Its value keeps on rising over time, which ensures a high return of investment for the users.

Moreover, it is one of the few currencies that have mining rewards. It means that you can get hands-on the currency without directly buying it. Usually, you get it as a reward for solving a complex problem or completing a block of transactions for the bitcoin blockchain. You will need an initial setup for the mining process, but the result can be intimidating, especially considering the market value of these coins.

Each of them holds a value of 9186 USD, which is enormous progress from its initial value that was almost equal to zero in 2009.

Ethereum Ethereum is the company’s name that brought forward the second most popular cryptocurrency of the world Ether. The story of this blockchain started in 2013 when Vitalik Buterin proposed the concept of decentralized application. It took the company nearly two years to present the world with this currency, and they finally launched it in 2015.

The currency did a good job in the market but did not manage to attain a high position in its initial years. Its value at the very start of the next year was just $2.58. however, the currency progressed very quickly, and by the end of 2019, its value was more than $153 and still rising. Presently the cost of each ether token is more than $225. Currently, there are 111,589,887 ether tokens in circulation around the world. Its market cap has increased to 25,641,640,139 USD. It is a live proof of this currency’s potential.

Tether Tether holds the third most popular cryptocurrency. The currency is unique in its working and doesn’t work the same way as the above two.

It’s a type of stable coin and pegs with the value of Dollar as its base. Its value is stable and will never change no matter when or where you extract/ buy it. The currency has always been a bit controversial, but it has shown immense progress in 2020. There has been a spike of 144% in the market value of this currency.

Tether presently acquires a market value of $9,211,300,712 and a 24-hour global trade value of $21,006,069,423.

The currency may not look profitable directly, but it’s a great investment this year.

6 | November | Techfastly | 2020

Adoption Of Digital Currency in Asset Management The digital currencies consist of several systems that are helpful to safeguard as well as increase your asset. The recent COVID19 pandemic has also established it as an essential future investment. People all over the world are moving towards online financial transactions, and these currencies are made for it. You can use it for quick transactions, easy storage, and even for foreign currency exchange.

Even before this pandemic, these digital currencies presented a large market for investors. The once like the bitcoins have acquired market capital of 237.32 billion during the fourth quarter of 2017. The number is enormous and will only grow further in the coming times. A post by BusinessWire states that the size of the digital currency market, which was around $94 million in 2018, will increase to over $207 in the next three years.

The simplest reason for this rise will be the increasing dependence on digital modes of payment and asset transfer. The safeguarding feature of the digital currencies and its profits will also contribute to the cause.

Moreover, in the coming times, these currencies will not be a part of just the stock market and business but will also enter the institutions. It will offer them a decentralized system that will be risk-free and highly adaptive.

Wrapping Up The digital currency market is really vast and very potent. It has several opportunities that you can exploit to get profit and start a business. They are the future of the world that will one day rile the investment market. So, take advantage of the above information and get the best of these future trends.

Apps to Techfastly Team Download for Better Financial Planning Your Money Manager & Budget Planner

W

ith nothing being permanent in this world, it’s always good to have a back-up plan ready. The same applies to income and investments. Dreamhouse, education, taxes, weddings, health emergencies, everyday expenditures, and future investments can barely be met well without proper planning.

Financial planning is a systematic approach to achieve one’s life goal. It’s a holistic approach towards finances that increases one’s savings and standard of living along with being prepared for emergencies. But, during stressful times such as Covid-19, this can be an overwhelming task.

Now, the question arises- how to have one?

With the advancement of technologies, you might have a planner right in your smartphone. Yes, we are talking about Planning apps, also called Budget apps. Let’s have a look.

Apps in Financial Planning Humans are a highly intelligent species, and no matter what generation of technology you use, it will never beat the human brain. The same theory holds for the financial planning sector. Every app that you develop for this sector will have advanced logic and will always take practical decisions. On the other hand, the human brain has a future vision that enables it to analyze the situation, assess the risk, and sometimes go out of the logical ways to achieve better results. You see, technology lacks the basic instincts and the guts of a living being.

7 | November | Techfastly | 2020

For the applications, the whole market that you see as people, goods, and other stuff, is just a game of 0 and 1.

If they find anything correct, it’s true, and if it’s slightly deviated, it’s false irrespective of the deviation. They will always choose what seems profitable under the present condition and not the one that can earn better results in a few years.

Human’s advanced intellectuals establish them as superior over the application or software that you will find in the market. However, that doesn’t mean you should not use the application. They may not be as sharp as your brain, but they can present pretty good results in some cases. The apps are also great in saving a lot of time and keeping data organized.

3 Mobile Apps to Trust for Your Personal Finance Planning Needs 1. Mint Mint is a well-known online personal finance app designed by Intuit. Available on both iPad, Android, and Windows mobile devices, the application gives you a clear and comprehensive overview of your financial situation.

It offers ample features and functionalities such as transaction tracking, budgeting, bill reminders, credit score tracking, spending categorization, and even saving for the future.

What’s more, the platform avails personalized tips and advice daily to ensure a better financial state.

Thanks to the growing innovation and mobile technology, today, there are plenty of financial planning and management applications in the market. These apps help people get rid of financial stress, save for emergencies, and so on. And that too, without sitting next to a balance sheet.

They are enabling people to make harmony between their income and spending with just a few taps.

2. Expensify

Because of these benefits, the download rate of personal finance management apps is increasing exponentially, especially during the Coronavirus outbreak. The global personal finance management market is poised to be valued USD 1.213 Bn by the year 2023, growing with a CAGR of 6.40% between 2017-2023.

Meaning, you need not feed all the bills and expenses on your own. You can click a picture of your receipt and scan via the application, where it will be fed the values automatically.

If you love to travel across the globe or are into a profession that demands regular traveling, this is the right application to use.

Available on Web, Android, iOS, and Windows, this financial app avails the option to manage expenses, automate the process, scan receipts, gather reports from colleagues, track time, and much more.

3. Spendee This is yet another budget tracking application to download and use. The app comes loaded with high-end design elements and provides features like tracking income, analyzing your financial habits, and maintaining your budget.

If you are still sitting with a calculator and notebook to calculate the bills and plan how to manage your finances, Artificial Intelligence is playing a significant role this article will help you find the best in the advancement of technologies, and the same digital financial companion for you. goes with the Budget apps. But are they capable of beating human IFAs (Integrated Financial Advisors) 8 | November | Techfastly | 2020

AI and Financial Planning Apps: What Happens When They Merge?

AI and its sub-technologies are quite popular in the market for mimicking human nature, including understanding their emotions. With this power, it is adding a complete range of new features and functionalities into the financial planning of mobile apps.

Some of them are as follows.

4.Personalized Experience As already mentioned, AI technology can understand human behavior and respond accordingly.

Because of this, AI-powered personal finance management apps can offer personalized solutions to a targeted user base.

2. Credit Scoring Though credit scoring is done manually, it is a tiresome and error-prone task. However, when AI is introduced to the financial applications, the process gets accelerated, more efficient, and error-free since the technology avails the opportunity to gather and analyze heaps of data across the globe.

3. Quantitative Trading As the name states, this type of market strategy will enable users to research and analyze data via mathematical and statistical models to unleash new opportunities. The process requires a high amount of computational power, and because of this, it is exclusively handled by large financial advisors and investors only.

However, with the amalgamation of AI technology and budget managing apps, it has been much easier for 9 | November | Techfastly | 2020

many more individual traders to get involved in this process and relish higher perks.

4. Forecasting Last but not least, Predictive analytics - one of the AI sub-technologies - also helps with analyzing the real-time data and uses the insights gained for forecasting the future of the market.

Wrapping Up As we have discussed in this article, financial planning apps are making a massive difference in the lives of everyday users. And, in the coming years, they will be able to bring more disrupting changes in the economy by introducing the power of cutting-edge technologies like AI into the environment. It is enough to conclude that using these apps can give you an escape from financerelated stress, and thus, you must look forward to downloading and using them.

I

n conversation with Vidit Gujrathi, captain of India’s national chess team. Leading from the front, Vidit led India to its first ever Chess Olympiad gold medal three months ago. In an interview later, he said, “We beat 163 countries to win the gold.“India was one of the most consistent teams. There was an incident where we lost the internet and went to the second position from the first position. We showed we can bounce back from tough moments that show our character. The last day we won all games, defeated China, which is a huge deal because they were top favourites having won the 2 Olympiads so beating them gave a lot of confidence.”

In the finals, playing against Russia, there was a server outage, and two Indian junior players- Nihal Sarin and Divya Deshmukh- were disconnected and lost the game. After a thorough investigation

by FIDE, the governing body of chess, its president, Arkady Dvorkovich, decided that it was fair to have joint winners. The

10 | November | Techfastly | 2020

In Conversation with

Vidit Gujrathi

gold medal was jointly awarded to India and Russia.

The Indian team composition: Men: Vishwanathan Anand, Vidit Santosh Gujarati (captain), P. Harikrishna and Arvindh Chithambaram (reserves).

Women: Koneru Humpy, Dronavalli Harika, Bhakti Kulkarni and R. Vaishali (reserves).

Junior boys: Nihal Sarin, R. Praggnanandha (reserve).

Junior girls: Divya Deshmukh, Vantika Agrawal (reserve).

We spoke with Vidit on various subjects. We spoke about how playing online was completely different from playing in the physical presence of the opposition. As mentioned before there had been Internet issues

and what role the fear of an outage plays and how it affects the performance.

Below is our enlightening conversation with Vidit.

Question: Congratulations for being the joint winners with Russia. Your thoughts on the tournament?

Vidit: Thank you so much. My thoughts on the tournament are that it was a really big success for India and chess in India. To win a gold medal, which has never happened before on a grand stage, it would be very beneficial to chess. That feeling of winning the gold is amazing and it’s a historic moment for me and the team because it’s never happened before, we’ve only won bronze once. So definitely it’s a moment for me to cherish.

Question: How was it different playing the tournament online? Did the constant worry of potential network issues added to the pressure?

Vidit: It was not such a big problem for me to play online because there are some advantages like playing from home but when you play there are issues that are out of your control like the internet, electricity and stuff like that. We did face an issue and after that we were very alert and spoke to the electricity board. It was a very unique experience in that sense.

Question: How did you mentor the junior players to ascertain optimal performance?

Vidit: The junior players are very talented, sometimes I just had to take care of their psychology. For example, one player lost and she was very distrubed so I just spoke with her, consoled her. I told her that whatever happens just leave all the responsibility of the performance on me and just focus on playing the game, you’re a very strong player. That helped to take the pressure off from her and there were some chess related activities that wouldn’t have been possible without her.

Question: What are your plans for the long-term future?

The Indian team composition 11 | November | Techfastly | 2020

Vidit: My long term plans are simple, once the tournaments resume with the over the board tournaments, I will be focusing on improving

my rating, as a chess player to get into the world’s top five. But before that happens I’ll be focusing on the online tournaments, which includes a lot of rapid and blitz, which is a completely different ball game if you look at it.

So, yeah, I have two goals, one is a long term goal and one is a short term goal. And short-term is related to online chess and recently I won a blitz tournament where World No. 2 Fabiano Caruana was playing. So I’m trying to improve my game there.

Question: There is a lot of mental and physical exertion when playing. How do you keep in shape and a healthy state of mind?

Vidit: Definitely a lot of mental and physical exertion. I would say I’m handling the mental part well recently but I do have to work on my physical activity, especially when you’re home and you’re working on the game from home. It takes a lot of effort to stay in shape and do the physical activities which naturally you reduce. I have to work on that, it’s not ideal but definitely on the mental aspect I have been making gradual progress to get tougher mentally.

Question: There has been a recent surge in the following of chess. How are you managing the additional attention?

Vidit: The recent surge in chess is definitely amazing. I mean as a professional chess player I had been wanting to see that and I’m very happy that many people are interested in the game of chess. I couldn’t have asked for more. I am trying my best to connect with my audience through my youtube channel and talk to them.

They also give me so much support it’s so amazing to see. I am very blessed and grateful. I hope it continues and is sustained and more people take up 12 | November | Techfastly | 2020

chess and this boom continues.

Question: What are the next tournaments you are looking to participate in? And have you begun preparing for them?

Vidit: As I said earlier, I won a blitz tournament last month where the World No. 2 Cauana was playing. That was a great feeling, to win that.

Next is the Asain championship which will be Oct 10-Oct 25. I guess all my preparation will be related to that now.

Question: Who, according to you, are the top three players today?

Vidit: The top three players is a tricky list but it’s pretty obvious who the top player is Magnus Carlsen. He has been literally winning almost every tournament and he has been world champion for 8-9 years. I would consider him the world’s strongest player.

Question: What role does technology play in performances? How do you use technology to better your game?

Vidit: AI has come in, the hardware is getting

stronger. How we use a calculator to solve a simple math problem. There are engines in chess that solve the moves and help you analyze the game.

They are much stronger than humans. So we make use of all the latest technology and AI as well in our preparation. I am constantly trying to keep myself up so technology plays a huge role.

Question: Can you describe the following players in a line? 1) Magnus Carlsen 2) Anish Giri 3) Teimour Radjabov 4) Vishy Anand 5) Levon Aronian 6) Adhiban Baskaran Vidit: Magnus Carlsen: excellence, world champion, strongest player.

Anish Giri: witty, funny, loves chess a lot.

Teimour Radjabov: funny, nice person, and friend.

Vishy Anand: the reason of Indian chess scene.

Levon Aronian: own style of talking, very aggressive player.

Adhiban Baskaran: a beast, known for out of control play.

Interviewer: It’s been a pleasure speaking with you Vidit. I congratulate you and the entire team again. And we are rooting for you to become the world champion soon.

Vidit: Thank you very much.

13 | November | Techfastly | 2020

| Chaitra Saxena

COVID-19 Misinformation Your Guide to Spotting It While it is safe to say that COVID-19 has grappled the world and brought it to its knees, the issue of spreading misinformation is making it even worse.

Thanks to growing internet penetration globally and easy access to multiple informationsharing platforms, wrong information being spread is becoming more rampant.

From natural remedies that claim to cure coronavirus to how the virus came about, there is a lot of controversial information being spread, most of which are baseless.

This kind of misinformation can be detrimental to the 14 | November | Techfastly | 2020

many efforts made to fight COVID-19 by creating more panic among the public in some cases. This also leads to some of the genuine information on public portals being overshadowed by the wrong ones.

Here are some ways you can spot COVID-19 misinformation: Sources One of the first things you need to check is the source of information. A simple google search of the text should be able to give you the source. Information may even claim to be given directly by those working

in prestigious institutions and organizations like the WHO or renowned universities. In such a case, check the organizations’ official websites to see if the information is stated there.

Some messages may even come with the logo or a website of the said organizations. In this case, you should always crosscheck the authenticity of the link and the logo.

Considering how rife the internet is with misinformation, it is safe to assume that any piece of content you consume that is not from a reliable news site can be considered a

rumor till you have double-checked its sources.

Bad English Most of these messages that spread misinformation are written in poor English. This is one of the first red flags you can spot even before making any attempt to check whether the information is genuine. Any messages that are all caps, have major grammatical errors, or have other peculiar issues like way too many question marks are rumors more often than not, even if they claim to have a reputable news source.

What to do if you spot misinformation?

One of the most important things that can curb the spread of misinformation is taking the right steps once you have spotted it. Here are some

Check how recent the information is Occasionally, the information in a message or post may be right in terms of the facts stated. However, this information may not be recent and things you can do to contribute towards this fight may have been originally posted in another context. These type messages against the rampant spread of wrong information on social media or messaging tools. are then circulated, claiming to be related to COVID-19.

This is one of the biggest challenges at beating misinformation in public.

Most people stop cross-checking the information when they find out that it has a credible source and do not consider looking at when it was released.

Look for regional myth-busting websites Several regional and international websites continuously call out fake news and misinformation pieces with ample proof to support their claim.

These websites can be your go-to tool for spotting misinformation. If a message you have received has been widely circulated, there is a very good chance that these sites have already featured information about it.

15 | November | Techfastly | 2020

Let the person who has shared the message/image know One of the basic things you can do to stop any misinformation from spreading further is to inform the person sharing it about the same. If you have seen any misinformation regarding COVID-19 on a social media platform or on a WhatsApp group, it is better to confront the person privately to ensure that he/she does not get defensive.

Undo your mistakes If you are the person who has shared a wrong piece of news on social media and has been corrected by someone, make sure to take it in the right stride. Do not get defensive about it and try to take down the information as soon as possible.

In case this is not possible, share a message or post or image about your realization.

Most importantly, if you have got this piece of wrong information from someone else, make sure that you let that person also know, so he/ she can rectify it as well. While these steps may not completely undo the spread of wrong information, it is a step in the right direction.

COVID-19 misinformation can be as dangerous as COVID-19 itself. Always stay curious about the information you get and make sure it is authentic before you share it.

This is applicable to not just COVID-19 related information but for every topic.

Technology For Business www.techfastly.com

16 | November | Techfastly | 2020

Sandeep Trichal The Great Acceleration We are witnessing a significant transformation in the way societies, countries, institutions, and economies function with the onset of the fourth industrial revolution.

The rise of technologies like artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and others that make up the foundation of the fourth industrial revolution is leading to the increasing adoption of automation and changing the way we function as a society. They are significantly altering the way we work and giving rise to a paradigm shift in the manner societies are organized in tandem with other forces influencing the human culture and consciousness, shaping up new frontiers of the human evolution.

The onset of the fourth industrial revolution suddenly came into the limelight as the entire world, currently in the grip of an ongoing pandemic, realized the global economic order’s fragility and the drawbacks of globalization.

A system that emphasizes maximizing the productivity and profitability rather than creating a bare-minimum buffer manufacturing capacity for any perceived emergency was considered an inefficient and unprofitable approach. This system faces severe criticism as advanced and rich economies face crippling shortages of things like ventilators and PPEs to fight the infection spread. Countries and politicians 17 | November | Techfastly | 2020

The Impact of Automation on the Future of Work And Beyond “Machines are replacing humans in dangerous and labor-intensive jobs, which benefits society and gives rise to a more just and equitable system”.

are now advocating a renewed emphasis on self-reliance and a significantly different economic order to ensure the availability and smooth supply of essential goods and services needed.

People now realize the follies of an economic system that encourages unlimited consumption of resources.

It is worth exploring how technologies related to automation are shaping up the future of our planet, what impact the rise of automation will have on the way we work and how our planet will cope with the ill-effects of what has been termed ‘the great acceleration.’

With its origins in the mid-twentieth century, the great acceleration has altered our planet’s ecosystems at a blinding pace. It has led to an extinction-level decline of the natural world. In this write-up, let us delve into the impact of automation on the future of work.

Impact of Automation On The Way We Work Looking at the history of the three industrial revolutions, it can be safely inferred that these transformations, even though creating temporary unemployment, led to the opening up of new areas of work and had a net positive impact on the number of jobs created. However, what sets apart the current fourth industrial revolution is the sheer scale of its impact and its potential to usher in very high levels of prosperity and human welfare.

Machines are replacing humans in dangerous and labor-intensive jobs, which benefits society and gives rise to a more just and equitable system.

and the like are likely to become obsolete. On similar lines, robots are likely to take increasingly complex roles in sectors like defense (replacing human soldiers and saving the loss of life and limb) and agriculture (like taking up farming in barren soil conditions and further increasing the food production).

Such automation levels can be seen in our quest for ever-increasing productivity levels, which have stagnated and consequently stagnated the incomes of blue and white-collar workers in developed economies and gave rise to deeper economic inequalities a highly skewed distribution of wealth. From the perspective of the developing world, automation is perceived as a huge challenge. It gives rise to many unemployed youths, with major consequences on social stability and acting as a catalyst to upheavals and unrest in labor-intensive economies. On the other hand, automation and its large scale adoption leads to the emergence of new dilemmas and the need for a new ethical and moral code of conduct. For example, consider what may happen if any person is killed wrongfully by an autonomous law-enforcement robot, what kind of punishment can be meted out to such an entity, and will the people who have suffered will get a sense of justice merely by ‘switching off’ the erring machine? These are the new ethical and moral questions that we will be dealing with in the coming times.

Reskilling And Upskilling For The Jobs That Don’t Exist Presently

As machines increasingly replace humans, it also gives rise to digitization, with systems like routine data-collection tasks, monitoring and tracking various parameters like air pollution levels and water contamination, or incident reporting and documentation. The impact of these changes will give rise to productive and efficient workflows and business processes, with humans having more time for tasks So, in the coming decades, automation requiring fine thinking, collaboration, and creativity. Automation will also create new jobs, will lead to autonomous vehicles requiring people who can manage the system becoming predominant, eliminating and processes required to develop and maintain the need to drive. Consequently, such kind of automated workforce consisting of jobs of truck-drivers, taxi-drivers, 18 | November | Techfastly | 2020

robots. Refinement of technologies like AI and ML leads to the rise of computers with capabilities to mimic human learning and decision-making patterns and automate jobs like surveying, accounting, office support, and the like.

Simultaneously, automation is creating jobs that currently don’t exist, and we cannot even imagine the kind of scope and skill-sets required for them. For example, when I was studying engineering in college, I never imagined that I would be working as a web content writer, indulging in content marketing and digital marketing. These terms didnt even exist at that time.

We have an inkling of the things to come, the contours of the new economic order and the jobs it will create are slowly emerging. The future jobs, rather than emphasizing hardcore technical skills, will value skills concentrating on emotional intelligence, creativity, problem-solving, fostering collaboration, and value-creation. Partial automation of jobs in healthcare and warehousing is an indication of things to come. AI and ML are evolving to read x-ray scans

19 | November | Techfastly | 2020

of patients, transforming healthcare and robots performing surgeries and telemedicine, allowing human doctors to perform remote surgeries. Similarly, robots are already replacing humans in warehouses, with companies like Amazon deploying robots to stack goods and transport them speedily.

intended capacity, as less people commute to offices. Such a shift to a more flexible and mobile work culture will significantly alter our cities’ shape and design. The business district in cities will become outdated, as there would be no need for a large number of people to commute to a centralized location in the city.

So it is clear that to stay relevant in the work sphere, a major overhaul needs to be done in our education sector. We need to prepare a workforce that can adapt to the rapid technological advances and can work and interact with machines and robots. We all need to undergo major reskilling and upskilling in how we handle the coming times to be dominated by an IoT based world, where everything is interconnected.

The Thinking Machines

Wide-Scale Transformation of Our Cities We should also consider the impact of this major shift towards automation and AI on the type of jobs we will do and the related evolution of the workplace and the consequent shaping up of our cities and the related environment and sustainability aspects. As the workforce becomes increasingly mobile and flexible due to the nature of jobs changing, it will also dramatically change the concept of workspaces as it exists presently.

Tomorrow’s office may be completely different, facilitating collaboration and interaction between people and serving as incubators of innovation and developing relationships.

This impact can already be felt with the sudden spurt in the work from home trend. This has resulted in vast and expensive office buildings lying vacant, businesses relying on the office workers going bust, and transportation networks operating way below their 20 | November | Techfastly | 2020

The impact of automation and sophisticated AI-based machines doesn’t stop here. I was astonished to learn about the next-gen AI, which has led to the development of the Generative Pre-trained Transformer 3 (GPT -3) language model, developed by OpenAI research institute. This powerful and sophisticated language model can generate human-like text, ranging from commercial business writing to creative writing. Apart from performing routine and mundane tasks like business correspondences, the GPT-3 language model can also write poetry and perform technical tasks like coding. Based on billions of parameters, the development of this latest AI-based language model is astonishing and profound at the same time.

I wonder what sort of consciousness the machine will possess, if any, and if it can feel the emotions capable of framing in words.

The job of content writers, novelists, painters (remember the auction of the AI created

portrait in 2018) are also on the line at par with drivers, accountants, and telecallers. Not to mention the impact of this technology on the menace of fake news, complicating matters further, as people would not be able to make out what is fake and propaganda dished out by vested interests from genuine and fact-based news is increasingly getting sidelined.

Final Words The writing on the wall is clear.

Automation and AI-based technologies are here to stay. They are already shaping the future with a completely transformed work culture, leading to large-scale disruptions in employment patterns and the economic order.

The world is at a crossroad. One way is leading to a ‘black mirror’ type of social credit system already being implemented in China. The State applies a suffocating and highly oppressive control system over its citizens’ lives, with every move and word of citizens being monitored continuously.

The other way leads to the creation of a world with equitable distribution of wealth and democratizing the tools and knowledge that would make our societies and people better educated and equipped for a bright and prosperous future. The choice is ours. By being aware of this profound shift taking place, we would be doing humanity a great service by making a conscious choice regarding how such technologies shape our world and culture, impacting not only us and our children but setting the stage for generations to come. What kind of world we leave for them depends on the choices that we make now, and it is better to make an informed choice for a world with unlimited possibilities.

21 | November | Techfastly | 2020

In Conversation with

I

n this section of ‘In Conversation with’, we interview Louis Camassa, LinkedIn Influencer, Brand Consultant, and Thought Leader. In his own words ‘Apply empathy to inspire sales and extend loyalty’, Louis has consulted countless brands on how to understand their customers and attract them to their brand. He has developed a process known as “EMPATHETICS”, which helps brands capture, keep, and increase customers’ interests. Today we speak with him on a variety of topics.

Question: Hello Louis, thanks a lot for talking to us. My first question is about the impact this pandemic is having on companies and how they are dealing and if leadership needs a shift compared to before in terms of strategy and empathy?

As an influencer and consultant, your perspective would be of great value.

Louis: So I have a unique position on this because number one, I think the challenge for me is that I live in a unique area. I live in California, it’s a little town called San Luis Obispou with a population of around 60,000 and half of that is students that go to a local university called Cal Poly.

So we have a very small

Louis Camassa

22 | November | Techfastly | 2020

population here and it’s the highest price apartments. So it’s a very expensive place to live, very affluent and we just live in a bubble of sorts. So what happens here doesn’t happen elsewhere. Hence that would be the basis of some of my thoughts because I don’t know how the rest of the world is faring in this situation. But we have been fairly unaffected.

I think where my perspective is unique is that I decided to go outside this area and interview leaders in marketing, specifically. In how they’re dealing and how their companies are

getting through this. What I found was that many of them are doing well, many of them are even doing better before Covid-19 and I think the reason is that there are certain pockets that are largely unaffected and those pockets are still making purchases and going about their lives. So I think what leadership has changed, from what I have seen and heard, there is underlying or not even underlying, an advert understanding of others and everyone’s situation. I think this first started out with companies delaying and for loan payments, mortgages and rent. Other companies, like Verizon, were giving away higher data usage on plans. There were high levels of understanding and empathy and compassion. Business response by bettering services. Hotspot is another example of them offering really low price plans. And I think that has changed but it is magnifying certain attributes of the leader, understanding and empathy, being able to really relate to the other person on the screen and having the opportunity to walk around in their shoes. And that leadership will remain forever and should remain forever. Look at successful companies like amazon- they focus their whole business on really understanding their customers and providing value and that’s why they’ve been so successful. And I think other brands have seen that and its leaders are emerging with those traits and going back to their roots to understand people and I hope that continues.

Question: I agree with you.

One of the data points I’ve 23 | November | Techfastly | 2020

been looking at is that not a lot of organizations are confident that everyone works from home thinking there could be a potential drop in productivity. But that does not seem to be the case, so could it be the new norm going forward?

Louis: I think it’s always been the norm. For us in the technology industry and software business and certain marketing advertising. A lot of work happens remotely.

And I think what you’re saying is that now there a lot of professionals and agencies are trying it. This is largely how everything gets, it’s how adoption goes for everything, you have a small percentage of adopters, early adopters who really do something and implement it. It’s like when amazon or ebay in their early times were trying to do something really new. Remember when Uber came out, this was amazing, I remember taking an uber and someone was like, “Wait a second, you’re gonna get into a strangers car?” And I was like, “Yeah, how is that any different from getting in a cab?”

Question: And 3-4 years later we started staying in strangers’ rooms also.

Louis: Yeah, yeah in an AirBnb, same thing. It’s like “oh my god you’re staying in a strangers house, I would never do that, there’s gonna be an axe-murderer living there.

So, there’s all these scenarios, and there’s so many more, I’ve lived with them all my life. Time and time again.

And what I’ve learned through trial and error is that anytime there’s pushback on something that’s really

gonna be the next innovation. Anytime it gets someone in the gut and there’s a large emotional response.

External evoking experience, where it’s externally evoking some kind of response to what you’re proposing. So remote work, this one, is a little more commonplace because people like myself and others have been promoting it. But there’s dozens of influencers promoting it. The problem is that in bigger industries it doesn’t work. You have to set up

infrastructure and bring people. I think this is, like everything, the masses are getting a taste of it and it’s more commonplace for sure and I think the bigger thought is, like you said, productivity is time management. This is an area that is very challenging for people to master.

How do they balance their personal life with their business life so they’re not working 12-13 hours a day. Cell phones and you have your computer in front of you, what’s stopping you from checking them at 7 in the morning? Or going on your laptop at 10 at night, doing some research for your customer segment. There’s just a lot, I think that’s what’s improved in some cases, that people are working more hours.

Question: I wanted to connect remote work with one specific function called sales. There is remote work and there is sales. I wanted to understand what kind of role would online tools play in the sales function?

Louis: For sure that industry is going to continue to evolve and expand. If you look at Zoom right now, their stock price has skyrocketed, use has skyrocketed. Google play has been in play for several months, maybe tik tok has bumped them maybe a couple times but it’s been zoom number one. Remote work has transformed to zoom meetings and there’s a variety of tools you can use to improve remote work and telecommute and all that. But if you look at all the tools there’s a lack of congruity between them and connection. So you have zoom for meetings and slack for communication and maybe you have a project management

24 | November | Techfastly | 2020

tool then you have Airtable. You have all these different tools you’re using and they’re all disprant and disconnected. I dont think anyones done a great job at all these tools so that everything is cohesively sewn together and works fluidly. Slack tries to do that with their integrations and to some extent that’s working. This is new

know if there’s one that really ties it all together well and I think that will be the future. You have Microsoft Office and Google, they have their own office suites and all their different pieces that you can use for meetings and for docs and spreadsheets.

The biggest challenge I see for individuals and brands is organizing their operations and having clear project management systems and communication systems.

Question: One interesting fact that I came across was that since Covid-19 started there’s been a surge in security breaches globally.

So how important is information security and what are your thoughts?

terrain but now that there are more people working remotely there’s higher demand for better cohesion between all these tools.

Better management and oversight.

Question: There is huge potential in this industry for disruption. An integrated solution like you said, a solution, in your wods, that’s cohesively sewn together.

There’s potential for a solution, right?

Louis: Absolutely, I think if you look at companies like Ghira, they have done a tremendous job sewing together all their platforms. They’re more than advanced solutions, I don’t think they are as simple or straightforward for small or medium sized businesses. You have got Basecamp that is good for smaller businesses but they lack in certain functionality. I don’t 25 | November | Techfastly | 2020

Louis: Interesting, I didn’t know that there had been a surge. Security has always been at the top of mind for me. Specifically when it comes to personal data and private data. I think, if you look at Facebook and other social networks like Tiktok for instance, there’s a lot of security concerns that, in my opinion, are misplaced. Really over magnified TikTok, Facebook, they’re not really the problem. The bigger problem when you have companies like Chase Bank, Blue Cross, the DMV of California, there are many more that have been hacked and data has been disseminated and now can be bought on the dark web.

I heard the other day that Shopify had an exploit, some of their support team had somehow gotten records of a site that I use. Now Shopify is a huge leader and their stock price has gone up like a hockey stick because of the crisis and I think they are the anti-Amazon. Great company but even them. And this was not due to their soft-

ware, it was due to people. So security is paramount in my opinion and if you look at Shopify’s stock price, there hasn’t been any blip on the radar because of that exploit. Same thing, these other companies that have a security exploit. The only time, I remember where stock price was affected, was when EquiFax had a data breach and they had some losses and so forth. But otherwise it just gets swept under the rug and people move on where there are hundreds of millions of data records floating around the dark web where people could download and get your personal information. And, in my opinion that’s way scarier than Facebook giving away my friends list or the ramifications of getting access to some of the things I like.

Question: I see your point in the real area of concern regarding security. The data that really matters, financially, is the one that needs optimal security. I wanted to discuss a little bit about Dark Factory.

Would there be more focus on building autonomous factories going forward?

Louis: Here is the thing with AI, and automation and this has been going on for years. Tesla, how they build their cars is largely robotic and Amazon has huge improvements in how they pack and ship their customers products with all their robotics. And now Amazon has got FAA approval to do drone deliveries through robotics. So certainly there will be a lot of robotic use in the future. The underlying fear, I heard this in a peer group, someone was talking about how robots and AI is going to take over all the jobs and it’s just not true. It’s what’s called a luddite fallacy.

It’s what happened over in Europe and England. Compare it to weaving, like they’re making clothes, it was a loom that they automated and you didn’t need a person to do the sewing anymore. There was this big debate about how all these people were going to lose their jobs and crash the economy but what happened was their jobs were redistributed to different areas and nothing happened. So I think people are overly sensitive because they don’t understand it and we’re still way off from when that’s gonna affect any jobs or manufacturing.

26 | November | Techfastly | 2020

Question: It would create so many opportunities. In our analysis of how many jobs could be potentially lost, we never take into account the fact that there will be the creation of new opportunities and new skill needs.

Louis: That’s exactly right, a lot of people don’t consider that even if machines are doing the work, they still need to be maintained and updated, and programmed. I worked in a machine shop, many years ago that my family owned. You still had a person sitting there, monitoring it and updating and programming and cleaning, and having to make sure the parts were in there and taking them. There was still work to be done, it’s not like the machines sat there and did everything themselves. It’s not possible. So there’s a lot of that to it and I think especially in the U.S. there’s kind of a sentiment where a lot of our population doesn’t want to do that kind of manual labor or work. If you look at our trades, concrete layers are making upwards of $100,000 a year laying concrete. That’s not a highly evolved or complicated job, sure there’s specialization but you can go to trade school and learn it and you got yourself a really nice paying job. The salary is so high because there’s not a high number of people interested in that field. There’s higher demand than supply. I think that’s where automation has to go. That way people don’t want to go backward, they want to continue evolving, work smarter not harder.

Question: That wouldn’t work, for example, in India because you’ve more supply than demand in such jobs.

Louis: Yeah that’s an interesting point. So a lot of what happens in the US is we outsource the jobs that people can’t afford to live on here or don’t want to do to other countries.

That’s both good and bad, there’s a double edged sword. The good is that other countries are getting developed and gaining skills but the bad part is that the work is monotonous and tedious and sometimes challenging. It uplevels, and in 10 or 20 years, all that work is going to one country, that country will have enough skills to do the next level of work and they’re going to get offshored

somewhere else. The circle of life is just constantly evolving and improving.

Question: My last question is slightly political. After the pandemic has the world become more globalized or less globalized?

We see that we are banning apps, there are trade restrictions, less travel. What do you see the world will look like in the next 10 years in terms of how globalized would we be?

Louis: I think we’ve definitely become more globalized. I have seen this in my experience, there’s more regulation now and more fear and there’s a sensitivity to globalization. Where things that were flying under the radar and getting done without government oversight now are starting to come into the light. Here is what is really interesting- information can break down any barrier in any country, that’s pretty easy to globalize; communication and information work. What gets a little more challenging is physical goods and shipping. I think, if you look at Ali Baba, China’s largest company, they sell the most out of Walmart and Amazon. What they have done is revolutionary. They have been able to connect countries like the US with manufacturers in China, India, Korea, Japan, you name it. Go direct to the source, the manufacturer, communicate, hold transactions, have payment, shipping all in one platform. It’s kind of like Amazon but manufacturing. Unlike Amazon with their retail you have the manufacturer and you’re buying direct, it’s all self contained.

That in my opinion broke down a lot of the barriers with globalization and you still have taxations and government regulation that are affecting it. But once the genie’s out of the bottle, it’s hard to put him back in. I think that platform and others like it have really transformed how we are able to interact, purchase and trade goods with one another. That’s globalization and there’s a lot of fear around globalization because of security and privacy and you’re data warfare. But I think we’ll continue to see globaltion. I think it’s only gotten better and continues to get better. In the U.S. I tried to order products for my customer and it couldn’t do the quantity I wanted.

27 | November | Techfastly | 2020

They wanted to do quantities of 1 million plus pieces and I only wanted 50,000 and no one in the U.S. wanted to deal with us.

So I found a Chinese manufacturer who was willing to do 50,000 and communicated, wanted 30 days, got everything shipped and it worked well. Globalization because it has to be. I don’t think there’s a choice, you can’t get it in your own country so you have to go outside of it.

Interviewer: Thanks a lot, Louis. It was a great interview. Your insights were really thoughtful as always. I have been following your LinkedIn articles since quite some time. As always, you make one think longer than it takes one to read your article, which, in my opinion, is a hallmark of a great thought. I look forward to speaking with you again.

Louis: Thanks Srikant. Sure, why not.

Venkatesh

EnChroma Glasses Bring Color to Your Life

How do EnChroma glasses help in correcting color blindness?

To understand this, we have to understand the concept behind color vision and color blindness.

We see images with the help of photoreceptor cells present in the retina. We have two types of photoreceptor cells present in the retina. They are rod cells and cone cells. Rod cells help in night vision. Cone cells help in seeing colors.

We have three types of color-sensing cone cells in our eyes. They are red, green, and blue cone cells.

Each of these three cone cells have overlapping regions in the spectrum of light they absorb.

Whenever the overlapping of the spectrum is broader, it results in poor color differentiation.

This condition is called color blindness. It is also known as color vision deficiency (CVD).

28 | November | Techfastly | 2020

There are different types of color blindness ranging from partialto-complete color blindness.

People with CVD have difficulty differentiating between colors such as yellow and orange, green and brown, pink and gray, or blue and purple. This inability to distinguish the colors is called red-green color blindness. The other type of color blindness is blue-yellow color blindness. It is due to the inability to see shades of blue and confusion between blue and green colors. In very rare cases, a person can be completely color blind.

Definition of EnChroma Now, let’s understand the concept behind the name EnChroma glasses.

En- is the prefix, which means “within.” Chroma is defined as the intensity of a distinctive hue or saturation of a color. These glasses filter the light with a specific wavelength to reduce the spectrum’s broader overlapping to keep it within a specific spectrum of colors. Thus the name EnChroma glasses.

To understand more about Chroma, you can refer to Munsell Chroma.

Evolution of EnChroma Glasses Having understood the concept behind color blindness and EnChroma glasses, let’s delve into the details of the idea used in the filters that coat EnChroma glasses and the type of color blindness it corrects.

The filter used to eliminate the overlapping of the wavelengths of light is called optical interference filters.

There are two types of optical interference filters. They are narrow notch and multi-notch filters. These filters are primarily used in Raman spectroscopy and laser-based fluorescence.

These applications require filtering different wavelengths to pass the required wavelength of light through the spectroscopy to carry out the desired experiments.

The same principle is used in EnChroma glasses, which uses multi-notch filters to strongly suppress one or more wavelengths or narrow bands of wavelengths and maintain higher transmittance of nearby wavelengths. This suppression or cutouts in the visible spectrum help to enhance colors and correct color blindness.

Type of Color Blindness Corrected by EnChroma Glasses The EnChroma glasses reduce overlapping regions between red and green cone cells by using a filter. This helps to improve the color vision in people suffering from red-green color blindness.

Key Takeaways EnChroma glasses help to correct red-green color blindness like any vision correction glasses that 29 | November | Techfastly | 2020

correct the vision. It does not cure any color blindness.

It does not correct any other color blindness.

After wearing the EnChroma glasses, it usually takes between 5 to 15 minutes to see the colors.

You have to wear these glasses all the time, like vision correction glasses.

| Techfastly Team

Investing in Technology

W

ith constant changes in the user trend and global market, the stock market has faced constant fluctuation in the last few years. The industries are rising and falling in a way that makes it almost impossible to anticipate their future.

However, there is one industry that has shown excellent future potential- the tech industry. It has shown significant progress in terms of both its position in the market and its profit values. The following articles will share the data that will prove its potential and why it’s the best industry to invest right now.

Progress In Tech Companies Value The technology sector has undoubtedly shown great strides in the last decade.

With modern technologies like the IoT, AI, RPA, and more, it has opened the door to a much better world, with many more opportunities. The stats by financesonline.com states that the sector now accounts for more than over $3,360 billion. 4 out of every 10 United States has reported demand for professionals in this sector.

The world has seen technologies that were unimaginable before this decade.

There are AI-based machines, selfdriving cars (conceptual), and many 30 | November | Techfastly | 2020

more fascinating technologies. The era also marked the discovery of ultrafast processors and graphic cards. This decade marks a new milestone for a new, better, and faster world.

The best part is that these technologies aren’t just benefiting the industrial sector but also offer excellent investment opportunities for investors. You can use this rising market to your benefit by understanding and investing in it. The next section will tell you more about this art and share some tech sectors you should consider.

Top 5 Tech Sectors To Invest In The tech sector is growing at an excellent rate, but some sections have better growth than the rest. These extra quick-growing sections can present you with a great market to invest and earn profits. Here’s a list of 5 of these sections.

Artificial Intelligence AI being at the top of this list is no big surprise, especially when you consider the progress rate it has presented.

The technology finds its application in almost every modern firm right from manufacturing to healthcare. Even the advertisement industry and fintech are starting to use it.

The technology is booming at an unimaginable rate, opening room for lots of jobs as well as investment opportunities. According to the studies

by Statista, the sector has exhibited a growth rate of 154% in 2019 and is still increasing. The website also establishes that the AI now covers a market revenue of over 10.1 Billion USD. Another graph by the same site predicts that this revenue may rise to 125 billion by 2025.

The technology is attracting investors and tech enthusiasts from almost every sector of the industry. It has also become a base of many startups lately. Not to mention 31 | November | Techfastly | 2020

the huge investment companies like IBM, FB, and Google are making for it.

All these factors make it clear that AI technology is here to stay and would present an attractive market in the coming times. So, without any doubt, this sector is worth your time and money.

Data Science Artificial Intelligence uses processes like machine learning and predictive analysis to understand the market better. It means that any industry using AI will have to deal with a large amount of data. Collecting this data is not a big task, especially with smart devices like the wearables, Alexa, and other such devices. However, organizing this data in a meaningful way is another story. You need to store the unstructured data, refine it to find the required part, and then store it in.

You also have to ensure that the bulk data doesn’t affect the processing speed.

Therefore, you will need multiple tools and professionals. The list includes analysts, data virtualizers, clutters, and applications like Hadoop.

These requirements turn this industry into a sector that can help you to earn excellent profits. Companies like Amazon, Microsoft, and Google in this sector further add to its value.

App Development Since the development of Apple and Google stores, the demand for applications has always been high. Today, every business, enterprise, and cooperative needs dedicated applications for their services. Even the government sector has a massive demand for them. They generate more than 50% of the world’s internet traffic. The demand is further increasing with new technologies like VR and AR into play. Even the tech sectors like AI and data science depend on applications.

This sector has also exhibited a growth rate that is much more than almost any other tech sector. The website alliedmarketresearch predicts that the industry will have a revenue of 407.31 billion dollars by 2026. It’s a growth of over 301.04

billion dollars within eight years (2018-2026). So, if you are interested in investing in the tech sector, this one is a perfect option.

Cloud Computing In this age of information, hard drives and other mass media devices are not enough. The users need tools that can offer much larger storage capacity without compromising speed or rising prices. The only answer to this requirement is cloud computing platforms. They are fast, reliable, and can be accessed from any part of the world without any issues.

These platforms are also becoming the base of centralized industry and remote working. Its growth is why even the top-notch companies like Amazon, Google, and Microsoft have started the programs for cloud computing. About one-third of the IT sector’s budget now goes to this single sector. They use the online storage to backup data, host websites/software, create recovery images, and several other processes.

Stats show that by the end of 2020, the spending on this sector will be approximately 952 Billion USD. Cyber Security With the whole world turning digital, cybersecurity is a must every company needs to prevent unauthorized use of data. The companies need professionals, tools, and every other thing that can assure the best cybersecurity for them. Hence, they are ready to spend a higher amount in this sector than any other.

The sector has reserved a market investment value of over 37 billion dollars by the end of 2018. A study by Statista predicts that by the end of this year, the investment in this sector will further rise to 42 billion. The number is enough to establish its market value in the upcoming years. It’s the sector that you must surely consider.

Wrapping Up 32 | November | Techfastly | 2020

The tech sector is rising, and you can use it to your advantage. All you need is to find the perfect investment opportunity for you.

Hopefully, the data above may have provided you with the knowledge you need for this part.