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Next Phase of Digital Transformation with Machine Learning and Robotic Process Automation

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You’ve launched an AI, ML, or RPA initiative (or initiatives.) You’re seeing results. But are your operations and business benefits in line with those of best-in-breed financial firms?

Digital Customer Experience (DCX) has become the watchword of next-generation customer interaction. On the customer-facing side, technologies such as social platforms, chatbots, human-machine interfaces like Alexa and Siri, and virtual reality (VR)/augmented reality (AR) are dramatically changing how financial services firms interact with customers (whether individuals or businesses). On the back technologies like AI, machine learning, and advanced analytics are providing financial executives with unprecedented insight into customer desires and behaviour.

In sum, these technologies have the potential to radically transform financial services firms. They can spawn new lines of business, new products and new partner channels.

 Ansul Srivastav, CIO and Digital Officer with Union Insurance will be sharing his experience   on how he helps transform business lines (Life, Health and P&C) with Digital, Cloud, Mobility   and Analytics and strategy adoption for some key transformations like Machine Learning and   Robotic Process Automation

 Know more about Anshul’s view on Digital Transformation by reading his recent blog   “Anatomy of Fintechs that’s redefining Financial services business models” on LinkedIn

You’ll learn:

• The top use cases for AI, ML, and RPA

• How to define effective roles for IT and business in automation and digital Transformation

• How to implement the right data management and governance for you AI/ML/RPA initiatives

Parkar Consulting and Labs

Parkar Consulting & Labs is a boutique Technology Consulting firm, born out of Chicago and affiliated with 1871Chicago.

Our practice consists of a strong pool of over 170 consultants specializing in delivering integrated engineering solutions in Product & Data Engineering to clients across Industry verticals of Telecom, Retail, Information Technology & Services and Healthcare.

The spectrum is structured across the following: End-to-End Product Development & Lifecycle Management, Database Management, Data Warehouse & Business Intelligence, Big data & Analytics; Cloud- Assessment, Strategy, Migrations, Security—and Managed Services. Our Center of Excellence (CoE) offers a dedicated team of experienced domain experts in Product Management, Testing, DevOps, Automation, Oracle & AWS.

Backed by a robust community at 1871, our R&D team at Parkar Labs is vested in niche technologies such as Blockchain, Machine Learning, Artificial Intelligence and Security engineering to build cutting- edge solutions in creating new offerings that add value to a larger solution set.

 

Industry expert

Future of Tech at Mid America Club

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On February 21, Parkar hosted an event to discuss the “Future of Tech” featuring Nick H. Kamboj, CEO of Aston & James at at the Mid-America Club, which has the most gorgeous downtown view in Chicago, Illinois from the 80th floor. Nick brought in a wealth of knowledge to the discussion as he has over a decade of experience teaching at the University of Chicago Booth School of Business, performing clinical research at Harvard University, and serving as an advisor for over 400 of the world’s most prestigious and accomplished corporate and government leaders. 

This one-hour discussion was for non-technologists and technologists alike to learn how to identify the most innovative technology trends today and discover those most likely to emerge tomorrow, how to assess hot and emerging technology trends effectively and easily, how to build the skills you need to question and challenge experts on the value of emerging technologies, and how to develop the tools you need to make effective technical purchasing decisions for your home or enterprise.

Additionally, all attendees received a copy of Nick’s book, “CIO Elite: Technology Strategy Terms Quick Reference” and one lucky guest won an exclusive Amazon Echo Dot being a part of a small contest during the evening.

The IT Connect experienced over 75 attendees and was another successful event for Parkar and a perfect start to 2019.

 

Industry expert

Integration of Chatbots in Healthcare and BFSI

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Parkar hosted its pilot meetup in Dubai, in association with AstroLabs and GraphAware on “Integration of Chatbots in Healthcare and BFSI”. This meetup was planned to enable attendees to take the right decision on onboarding the most substantial bot for their organisation.

As Gartner estimates that “consumers will manage 85% of their relationships with enterprises without ever interacting with a human.” So, the question becomes, who will they interact with? The answers lie in when companies like Google, Amazon, Facebook, IBM… spent years in research to make AI technology a commodity for everybody. Now you know why the adoption of chatbots increased tremendously in the recent years.

While it’s assumed that chatbots market is likely to reach $1.25 Billion dollars by 2025, $8 billion in cost savings is expected by 2022. Moreover, average time saving per chatbot inquiry when compared with traditional call centres is 4 plus minutes in chatbots for the banking & healthcare sectors.

But, do you really know what chatbots are? Popular frameworks that exist? What to do when your business deals with data-sensitive applications? Are your users happy to share health or financial information to the cloud? Are they even aware of that? When it comes to Voice Interfaces, how do you tackle the challenge of letting the voice of your users being processed and translated in the cloud?

In his talk, Pavel Nesterov, Co-Founder of Dubai Data Science introduced different Chatbots and its framework and Christophe, CTO at Graphaware  presentedd a series of challenges for chatbots in data-sensitive businesses such as healthcare and finance. Not to stop there, some solutions that are available on the market to bring data-privacy back in the hand of your users were shared by our experts too.

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Blockchain and Big Data: What you need to know for 2019

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Parkar Consulting and Labs in association with American Marketing Association brought the Chief Marketing Officers in Chicago together for an hands-on workshop to explore the ways Blockchain and Big Data can be used as a collaborated technology to simplify Marketing efforts.

Blockchain- you’ve heard about it, but do you really understand it? The Shared Interest Group event was planned around this hottest topic of 2018 as Blockchain is revolutionizing the way data is stored, shared, and accounted for. Explaining its decentralized database structure provides the critical solution for companies who engage in complicated transactions and need extra attention applied to sourcing of items, ingredients, or products; and so much more.

One of the most fascinating aspects of Blockchain is how it interacts with and manages big data which attracted Chief Marketing Officers from enterprises to workshop how the principles of big data and Blockchain can come together to help marketers and data analysts develop a 2019 solution for their company’s data problems.

Lauren Ramsey and Jason Cohen lead a lively and interactive workshop providing hands-on knowledge of what Blockchain is, how you can use it and how it coordinates with big data and how it can be leveraged to solve data and security issues.

The Event showcases the greater success companies can derive as a result of implementing emerging technologies into the marketing activities.

Jason Cohen, CEO – Big Data Block
Jason has worked as a technology leader for over 20 years. His experience ranges from leading small teams as CTO to leading large scale development organizations of over 100 people. His focus has been on software and big data development technologies. He is a passionate technologist with a heavy focus on open source development utilizing the most current tools. Managing large scale data environments has been a particular focus area going all the way back to his software company consulting days. His more recent focus on blockchain has allowed him to rethink how Big Data is managed leading to his current role as CEO/CTO of Big Data Block.

 

 

Industry expert

Are Enterprises Ready For Blockchain?

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2018 might as well be the year of Blockchain, given its rising popularity as one of today’s most disruptive emerging technologies for enterprises. Being one of the most discussed technologies in Chicago, it is fundamentally transforming how business is done with its ability to make B2B transactions more secure, transparent, and efficient.

But to understand all of this in the most active way, Parkar planned to bring in prolific leaders in the community together at General Assembly on 27 September with an attempt to find enterprise readiness on Blockchain. The event was a part of its #ParkarPaysItForward educational meetup series.

As a part of the panel, Melvin Petties, Director, Product Management​ at Sweet bridge, Nineveh Zoudo, Co-Founder at Blockhive, Karrie Sullivan, Principal and Chief Transformation Officer at Culminate Strategy and moderator Lauren Ramsey, CMO at Parkar Consulting discussed the Blockchain revolution and explored use cases in the Banking sector and Healthcare today.

According to Karrie Sullivan Blockchain will help replacing the role of trust that is been currently held by intermediates like systems or companies. She further mentioned “Combining Blockchain with Artificial Intelligence will help business happen faster and more efficiently so and ultimately will reduce administrative work “. Nineveh helps us understand that Blockchain is just another database in this world of database and when we think of data security, Melvin presented the idea of how one doesn’t want to put sensitive data on Blockchain but track the changes to a data using Blockchain.

With a discussion that went on for 90 mins, it was a complete triumph for each one present leaving the attendees with a thought that “Is Blockchain with a purpose to help democratization of resources and work, so that we individuals are free to do more interesting work?”

 

 

 

 

 

 

 

Industry expert

Parkar sponsors Chicago’s Biggest Blockchain event- Voice of Blockchain

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The city of Chicago witnessed its biggest Blockchain event, Voice of Blockchain on August, 24-25th 2018 at the Navy Pier. The event was organized by Chicago Blockchain Project with title sponsors 1871 Chicago and Democracy Earth, with support from Parkar Consulting & Labs.

The Voice of Blockchain was created to advance Chicago as a global leader in the emerging field of blockchain technology where collaboration is incentive through an ecosystem engineered to benefit individuals, small enterprises, and corporations.

Here are some insights you that may interest you:

The event witnessed over 1600 attendees to the cavernous Festival Hall A at Navy Pier. The speaker list included Matt Roszak of Bloq, Jimmy Song of Blockchain Capital LLC, Will Munsil of Sweetbridge, Rumi Morales of Outlier Ventures and Edmund Moy, the 38th Director United States Mint.

  • Why Chicago and why blockchain: The “Why Chicago” panel was yet another display of the nagging insecurity that led the city to be labeled as “the second city” in the first place. “We believe Chicago can be the go-to place for blockchain technology and expertise, and we couldn’t be more excited to support this event for our community and the tech industry at large,” Betsy Ziegler, CEO at 1871 and partner to the Voice of Blockchain event, said in a press release.
  • Technology needs to be ready to support blockchain: Terry Xing, CTO of Upower, said blockchain is still in its early stage and we must make sure the bottom layer of technology can support the upper layer. Currently, “the lower layer of the structure can’t support a mass application” of blockchain, he said.
  • Scaling Is definitely a major concern, but people aren’t quite sure what to do about it: This was a frequent discussed problem for the future of blockchain, and no one seems to have a good way of fixing it. A few companies presented their ideas and development, but even they tended to admit that they were still falling short of where things need to be. There were numerous panels focusing specifically on scaling issues, with perhaps one of the most attended panels being the debate between Nano and the Bitcoin Cowboy. Regardless, it is an issue being actively worked on, and hopefully someone has the solution soon.
  • Data silos in blockchain: Monali Shah from HERE IoT City Solutions said that, one of the priorities is to break down the data silos, in this way, people will not be separated and will be able to share data and produce useful information. In a smart city, people can better respond and make better decision to improve transport and road safety with open data strategy. Distributive ledger technology provides a way to increase the quality to help the flow of data, and the flexibility of the system by a better traceability, hence facilitate the ecosystem of data sharing.
  • The future of smart cities and blockchain: Jerry Quandt, Executive Director of Illinois Autonomous Vehicle Association, said that smart cities are automatic not only to transfer people but also to transfer individual’s need of services, hence the connectivity, safety and security of your information are of top importance. Distributive ledger technology can ensure transparence and usability of data, help to create true, and dynamic smart cities, and to find different approaches to identify values.

Want to know more about blockchain and how your company can prepare? Register here and listen to our thought leaders sharing their experience and exploring some real use cases.

Industry expert

Blockchain-for-Enterprises

Blockchain for Enterprises: Exploring Use Cases

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On May 30, General Assembly and Parkar Consulting brought together a panel of experts in the blockchain space from three different perspectives: a blockchain community leader, a blockchain developer and enthusiast, and a publisher of crucial and breaking blockchain news. They’ve each played an active role in helping to make Chicago the blockchain capital of the world.

Some of the key takeaways of the event highlighted how different industries are using blockchain today, with interesting use cases revolutionalizing the potential of Blockchain. The discussion also brought forth some key steps for adoption, as well as pitfalls often faced by adopters of Blockchain. The event concluded with futuristic ideas of how Blockchain has the potential to be the next big technological step.

Moderated by Lauren Ramsey, CMO, Parkar; our panelists included Alexandra Prodromos, Executive Director, Chicago Blockchain Center, Robert K. Elder, President, Blockchain News & Darrin Tracy, Senior Automated Trade Desk Operator, Cognitive Capital.

 

 

 

 

 


We see Blockchain as the next big technological step…which it absolutely is! Just like when the internet came out, it revolutionalized peoples’ businesses, or it put them out of it – Robert K. Elder, President, Blockchain News

 

 

Industry expert

An ambience of fun in Parkar’s work culture.

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Work culture defines the personality and environment of an organization. It is an invisible, yet powerful force that directly influences the behavior of employees of that organization. Parkar’s ideology is to engender a vibrant, dynamic and fun-filled environment to incite productivity with intrinsic motivation and positive state of mind. Parker aims in bringing out the best from them by opposing restrained professionalism and making them feel lighter by injecting elements of fun. A healthy work culture is directly proportional to employee satisfaction. We make sure that our employees are emotionally validated and intellectually stimulated.

PARKAR CRICKET LEAGUE 2

Parkar introduced an in-house cricket league called PCL (Parkar Cricket League) in its work culture last year in 2016. PCL has 8 teams to play and the matches are conducted twice every week. Where Season-1 is long gone and left an exhilarating experience, Season-2 is high-strung and the teams are on the verge of finding their new finalists for PCL2 Grand Finale this year.

Regardless of who wins at the end, a rush of adrenaline while playing the matches and the happiness of having played the game release a positive vibe in the workplace depicting their psychological need satisfaction.

Parkar is proud to have implemented the concept of fun with a purpose and eagerly awaits the PCL2 Grand Finale wishing all the best to the final teams!

Industry expert

Membership with 1871 – Chicago’s #1 tech accelerator

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A vast community of startups, corporations, and community partners who learn from each other and innovate together, today 1871 is the home of more than 400 early-stage, high-growth digital startups. The fellow members include Bosch, Accenture Operations, Bunker Labs, and General Assembly.

Celebrating this new affiliation, Gaurav Singh, CEO says “We are a company that proudly belongs to Chicago. We believe in building where we were built and being close to our clients, and the community here in Chicago, we believe we can further contribute to the next big wave of technological advancements.” Being in Chicago was a deliberate choice. From leading Universities to opportunities for growth, Chicago offers an environment perfect for technology companies. Through Parkar Consulting, we help our clients create the paradigm shift needed to bring their product or software to the next level and today we are backed by a robust community of entrepreneurs who support Chicago’s dream. 1871 and CEC (Chicago Entrepreneurial Center) have been internal to the growth of digital start-ups. We have chosen 1871 because it aligns with the driving principles of Parkar: innovation, technology, and entrepreneurial spirit.

Industry expert

2017 marks another year of success for Parkar, with 8 finalists in the top 200 in TechGig Code Gladiators Grand Finale!

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2017 marks another year of success for Parkar’s journey with Tech Gig Code Gladiators, India’s national hackathon.

In 2015, 1 finalist from Parkar entered the top 150 coders, today in our third consecutive year of participation; 8 finalists entered the Grand Finale as India’s top 200 coders! Kudos to Amit Gandhi, Omkar Khatavkar, Amit Ukirade, Navin Theruvingal, Jinal Gohel, Girish Vispute, Bharat Devre, Swagata Gupta for representing Parkar in the grand finale held in Bangalore, and making it a big win for us!

“It feels great to be a part of such a successful event that even made it to the Guinness World Record! It was exhilarating to make it to the grand finale and represent Parker; and competing with 200 challengers was a euphoric experience for all of us! 6 hours to solve 2 complex problems- intense yet challenging with all the positive energy all around!” Jinal Gohel recollects upon her return from Bangalore.

“It was a wonderful experience to qualify in an inordinate event! Your efforts and hours of dedication pay you off in the finals, we’ve practiced as a team to perform at our best in the Grand Finale! In all, a great platform to meet people from different organizations and learn new things. Participating in such type of competitions is imperative to growth!” says Omkar Khatavkar.

TechGig has proven that India is at the Top of the Global IT Industry, having won the Guinness World Record for the Country beating the likes of China and USA to create the Biggest Programming Event in the history of the world weʼre proud to be a part of it!

Industry expert

© 2018 Parkar Consulting Group LLC.