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In the past few decades there has been a revolution in computing and communications, and all indications are that technological progress and use of information technology will continue at a rapid pace. Accompanying and supporting the dramatic increases in the power and use of new information technologies has been the declining cost of communications as a result of both technological improvements and increased competition. According to Moore’s law the processing power of microchips is doubling every 18 months. These advances present many significant opportunities but also pose major challenges. Today, innovations in information technology are having wide-ranging effects across numerous domains of society, and policy makers are acting on issues involving economic productivity, intellectual property rights, privacy protection, and affordability of and access to information. Choices made now will have long lasting consequences, and attention must be paid to their social and economic impacts.

One of the most significant outcomes of the progress of information technology is probably electronic commerce over the Internet, a new way of conducting business. Though only a few years old, it may radically alter economic activities and the social environment. Already, it affects such large sectors as communications, finance and retail trade and might expand to areas such as education and health services. It implies the seamless application of information and communication technology along the entire value chain of a business that is conducted electronically.

The impacts of information technology and electronic commerce on business models, commerce, market structure, workplace, labour market, education, private life and society as a whole.

1. Business Models, Commerce and Market Structure

One important way in which information technology is affecting work is by reducing the importance of distance. In many industries, the geographic distribution of work is changing significantly. For instance, some software firms have found that they can overcome the tight local market for software engineers by sending projects to India or other nations where the wages are much lower. Furthermore, such arrangements can take advantage of the time differences so that critical projects can be worked on nearly around the clock. Firms can outsource their manufacturing to other nations and rely on telecommunications to keep marketing, R&D, and distribution teams in close contact with the manufacturing groups. Thus the technology can enable a finer division of labour among countries, which in turn affects the relative demand for various skills in each nation. The technology enables various types of work and employment to be decoupled from one another. Firms have greater freedom to locate their economic activities, creating greater competition among regions in infrastructure, labour, capital, and other resource markets. It also opens the door for regulatory arbitrage: firms can increasingly choose which tax authority and other regulations apply.

Computers and communication technologies also promote more market-like forms of production and distribution. An infrastructure of computing and communication technology, providing 24-hour access at low cost to almost any kind of price and product information desired by buyers, will reduce the informational barriers to efficient market operation. This infrastructure might also provide the means for effecting real-time transactions and make intermediaries such as sales clerks, stock brokers and travel agents, whose function is to provide an essential information link between buyers and sellers, redundant. Removal of intermediaries would reduce the costs in the production and distribution value chain. The information technologies have facilitated the evolution of enhanced mail order retailing, in which goods can be ordered quickly by using telephones or computer networks and then dispatched by suppliers through integrated transport companies that rely extensively on computers and communication technologies to control their operations. Nonphysical goods, such as software, can be shipped electronically, eliminating the entire transport channel. Payments can be done in new ways. The result is disintermediation throughout the distribution channel, with cost reduction, lower end-consumer prices, and higher profit margins.

The impact of information technology on the firms’ cost structure can be best illustrated on the electronic commerce example. The key areas of cost reduction when carrying out a sale via electronic commerce rather than in a traditional store involve physical establishment, order placement and execution, customer support, strong, inventory carrying, and distribution. Although setting up and maintaining an e-commerce web site might be expensive, it is certainly less expensive to maintain such a storefront than a physical one because it is always open, can be accessed by millions around the globe, and has few variable costs, so that it can scale up to meet the demand. By maintaining one ‘store’ instead of several, duplicate inventory costs are eliminated. In addition, e-commerce is very effective at reducing the costs of attracting new customers, because advertising is typically cheaper than for other media and more targeted. Moreover, the electronic interface allows e-commerce merchants to check that an order is internally consistent and that the order, receipt, and invoice match. Through e-commerce, firms are able to move much of their customer support on line so that customers can access databases or manuals directly. This significantly cuts costs while generally improving the quality of service. E-commerce shops require far fewer, but high-skilled, employees. E-commerce also permits savings in inventory carrying costs. The faster the input can be ordered and delivered, the less the need for a large inventory. The impact on costs associated with decreased inventories is most pronounced in industries where the product has a limited shelf life (e.g. bananas), is subject to fast technological obsolescence or price declines (e.g. computers), or where there is a rapid flow of new products (e.g. books, music). Although shipping costs can increase the cost of many products purchased via electronic commerce and add substantially to the final price, distribution costs are significantly reduced for digital products such as financial services, software, and travel, which are important e-commerce segments.

Although electronic commerce causes the disintermediation of some intermediaries, it creates greater dependency on others and also some entirely new intermediary functions. Among the intermediary services that could add costs to e-commerce transactions are advertising, secure online payment, and delivery. The relative ease of becoming an e-commerce merchant and setting up stores results in such a huge number of offerings that consumers can easily be overwhelmed. This increases the importance of using advertising to establish a brand name and thus generate consumer familiarity and trust. For new e-commerce start-ups, this process can be expensive and represents a significant transaction cost. The openness, global reach, and lack of physical clues that are inherent characteristics of e-commerce also make it vulnerable to fraud and thus increase certain costs for e-commerce merchants as compared to traditional stores. New techniques are being developed to protect the use of credit cards in e-commerce transactions, but the need for greater security and user verification leads to increased costs. A key feature of e-commerce is the convenience of having purchases delivered directly. In the case of tangibles, such as books, this incurs delivery costs, which cause prices to rise in most cases, thereby negating many of the savings associated with e-commerce and substantially adding to transaction costs.

With the Internet, e-commerce is rapidly expanding into a fast-moving, open global market with an ever-increasing number of participants. The open and global nature of e-commerce is likely to increase market size and change market structure, both in terms of the number and size of players and the way in which players compete on international markets. Digitized products can cross the border in real time, consumers can shop 24 hours a day, seven days a week, and firms are increasingly faced with international online competition. The Internet is helping to enlarge existing markets by cutting through many of the distribution and marketing barriers that can prevent firms from gaining access to foreign markets. E-commerce lowers information and transaction costs for operating on overseas markets and provides a cheap and efficient way to strengthen customer-supplier relations. It also encourages companies to develop innovative ways of advertising, delivering and supporting their product and services. While e-commerce on the Internet offers the potential for global markets, certain factors, such as language, transport costs, local reputation, as well as differences in the cost and ease of access to networks, attenuate this potential to a greater or lesser extent.

2. Workplace and Labour Market

Computers and communication technologies allow individuals to communicate with one another in ways complementary to traditional face-to-face, telephonic, and written modes. They enable collaborative work involving distributed communities of actors who seldom, if ever, meet physically. These technologies utilize communication infrastructures that are both global and always up, thus enabling 24-hour activity and asynchronous as well as synchronous interactions among individuals, groups, and organizations. Social interaction in organizations will be affected by use of computers and communication technologies. Peer-to-peer relations across department lines will be enhanced through sharing of information and coordination of activities. Interaction between superiors and subordinates will become more tense because of social control issues raised by the use of computerized monitoring systems, but on the other hand, the use of e-mail will lower the barriers to communications across different status levels, resulting in more uninhibited communications between supervisor and subordinates.

That the importance of distance will be reduced by computers and communication technology also favours telecommuting, and thus, has implications for the residence patterns of the citizens. As workers find that they can do most of their work at home rather than in a centralized workplace, the demand for homes in climatically and physically attractive regions would increase. The consequences of such a shift in employment from the suburbs to more remote areas would be profound. Property values would rise in the favoured destinations and fall in the suburbs. Rural, historical, or charming aspects of life and the environment in the newly attractive areas would be threatened. Since most telecommuters would be among the better educated and higher paid, the demand in these areas for high-income and high-status services like gourmet restaurants and clothing boutiques would increase. Also would there be an expansion of services of all types, creating and expanding job opportunities for the local population.

By reducing the fixed cost of employment, widespread telecommuting should make it easier for individuals to work on flexible schedules, to work part time, to share jobs, or to hold two or more jobs simultaneously. Since changing employers would not necessarily require changing one’s place of residence, telecommuting should increase job mobility and speed career advancement. This increased flexibility might also reduce job stress and increase job satisfaction. Since job stress is a major factor governing health there may be additional benefits in the form of reduced health costs and mortality rates. On the other hand one might also argue that technologies, by expanding the number of different tasks that are expected of workers and the array of skills needed to perform these tasks, might speed up work and increase the level of stress and time pressure on workers.

A question that is more difficult to be answered is about the impacts that computers and communications might have on employment. The ability of computers and communications to perform routine tasks such as bookkeeping more rapidly than humans leads to concern that people will be replaced by computers and communications. The response to this argument is that even if computers and communications lead to the elimination of some workers, other jobs will be created, particularly for computer professionals, and that growth in output will increase overall employment. It is more likely that computers and communications will lead to changes in the types of workers needed for different occupations rather than to changes in total employment.

A number of industries are affected by electronic commerce. The distribution sector is directly affected, as e-commerce is a way of supplying and delivering goods and services. Other industries, indirectly affected, are those related to information and communication technology (the infrastructure that enables e-commerce), content-related industries (entertainment, software), transactions-related industries (financial sector, advertising, travel, transport). eCommerce might also create new markets or extend market reach beyond traditional borders. Enlarging the market will have a positive effect on jobs. Another important issue relates to inter linkages among activities affected by e-commerce. Expenditure for e-commerce-related intermediate goods and services will create jobs indirectly, on the basis of the volume of electronic transactions and their effect on prices, costs and productivity. The convergence of media, telecommunication and computing technologies is creating a new integrated supply chain for the production and delivery of multimedia and information content. Most of the employment related to e-commerce around the content industries and communication infrastructure such as the Internet.

Jobs are both created and destroyed by technology, trade, and organizational change. These processes also underlie changes in the skill composition of employment. Beyond the net employment gains or losses brought about by these factors, it is apparent that workers with different skill levels will be affected differently. E-commerce is certainly driving the demand for IT professionals but it also requires IT expertise to be coupled with strong business application skills, thereby generating demand for a flexible, multi-skilled work force. There is a growing need for increased integration of Internet front-end applications with enterprise operations, applications and back-end databases. Many of the IT skill requirements needed for Internet support can be met by low-paid IT workers who can deal with the organizational services needed for basic web page programming. However, wide area networks, competitive web sites, and complex network applications require much more skill than a platform-specific IT job. Since the skills required for e-commerce are rare and in high demand, e-commerce might accelerate the up skilling trend in many countries by requiring high-skilled computer scientists to replace low-skilled information clerks, cashiers and market salespersons.

3. Education

Advances in information technology will affect the craft of teaching by complementing rather than eliminating traditional classroom instruction. Indeed the effective instructor acts in a mixture of roles. In one role the instructor is a supplier of services to the students, who might be regarded as its customers. But the effective instructor occupies another role as well, as a supervisor of students, and plays a role in motivating, encouraging, evaluating, and developing students. For any topic there will always be a small percentage of students with the necessary background, motivation, and self-discipline to learn from self-paced workbooks or computer assisted instruction. For the majority of students, however, the presence of a live instructor will continue to be far more effective than a computer assisted counterpart in facilitating positive educational outcomes. The greatest potential for new information technology lies in improving the productivity of time spent outside the classroom. Making solutions to problem sets and assigned reading materials available on the Internet offers a lot of convenience. E-mail vastly simplifies communication between students and faculty and among students who may be engaged in group projects. Advances in information technology will affect the craft of teaching by complementing rather than eliminating traditional classroom instruction. Indeed the effective instructor acts in a mixture of roles. In one role the instructor is a supplier of services to the students, who might be regarded as its customers. But the effective instructor occupies another role as well, as a supervisor of students, and plays a role in motivating, encouraging, evaluating, and developing students. For any topic there will always be a small percentage of students with the necessary background, motivation, and self-discipline to learn from self-paced workbooks or computer assisted instruction. For the majority of students, however, the presence of a live instructor will continue to be far more effective than a computer assisted counterpart in facilitating positive educational outcomes. The greatest potential for new information technology lies in improving the productivity of time spent outside the classroom. Making solutions to problem sets and assigned reading materials available on the Internet offers a lot of convenience. E-mail vastly simplifies communication between students and faculty and among students who may be engaged in group projects.

Although distance learning has existed for some time, the Internet makes possible a large expansion in coverage and better delivery of instruction. Text can be combined with audio/ video, and students can interact in real time via e-mail and discussion groups. Such technical improvements coincide with a general demand for retraining by those who, due to work and family demands, cannot attend traditional courses. Distance learning via the Internet is likely to complement existing schools for children and university students, but it could have more of a substitution effect for continuing education programmes. For some degree programmes, high-prestige institutions could use their reputation to attract students who would otherwise attend a local facility. Owing to the Internet’s ease of access and convenience for distance learning, overall demand for such programmes will probably expand, leading to growth in this segment of e-commerce.

As shown in the previous section, high level skills are vital in a technology-based and knowledge intensive economy. Changes associated with rapid technological advances in industry have made continual upgrading of professional skills an economic necessity. The goal of lifelong learning can only be accomplished by reinforcing and adapting existing systems of learning, both in public and private sectors. The demand for education and training concerns the full range of modern technology. Information technologies are uniquely capable of providing ways to meet this demand. Online training via the Internet ranges from accessing self-study courses to complete electronic classrooms. These computer-based training programmes provide flexibility in skills acquisition and are more affordable and relevant than more traditional seminars and courses.

4. Private Life and Society

Increasing representation of a wide variety of content in digital form results in easier and cheaper duplication and distribution of information. This has a mixed effect on the provision of content. On the one hand, content can be distributed at a lower unit cost. On the other hand, distribution of content outside of channels that respect intellectual property rights can reduce the incentives of creators and distributors to produce and make content available in the first place. Information technology raises a host of questions about intellectual property protection and new tools and regulations have to be developed in order to solve this problem.

Many issues also surround free speech and regulation of content on the Internet, and there continue to be calls for mechanisms to control objectionable content. However it is very difficult to find a sensible solution. Dealing with indecent material involves understanding not only the views on such topics but also their evolution over time. Furthermore, the same technology that allows for content altering with respect to decency can be used to filter political speech and to restrict access to political material. Thus, if censorship does not appear to be an option, a possible solution might be labelling. The idea is that consumers will be better informed in their decisions to avoid objectionable content.

The rapid increase in computing and communications power has raised considerable concern about privacy both in the public and private sector. Decreases in the cost of data storage and information processing make it likely that it will become practicable for both government and private data-mining enterprises to collect detailed dossiers on all citizens. Nobody knows who currently collects data about individuals, how this data is used and shared or how this data might be misused. These concerns lower the consumers’ trust in online institutions and communication and, thus, inhibit the development of electronic commerce. A technological approach to protecting privacy might by cryptography although it might be claimed that cryptography presents a serious barrier to criminal investigations.

It is popular wisdom that people today suffer information overload. A lot of the information available on the Internet is incomplete and even incorrect. People spend more and more of their time absorbing irrelevant information just because it is available and they think they should know about it. Therefore, it must be studied how people assign credibility to the information they collect in order to invent and develop new credibility systems to help consumers to manage the information overload.

Technological progress inevitably creates dependence on technology. Indeed the creation of vital infrastructure ensures dependence on that infrastructure. As surely as the world is now dependent on its transport, telephone, and other infrastructures, it will be dependent on the emerging information infrastructure. Dependence on technology can bring risks. Failures in the technological infrastructure can cause the collapse of economic and social functionality. Blackouts of long-distance telephone service, credit data systems, and electronic funds transfer systems, and other such vital communications and information processing services would undoubtedly cause widespread economic disruption. However, it is probably impossible to avoid technological dependence. Therefore, what must be considered is the exposure brought from dependence on technologies with a recognizable probability of failure, no workable substitute at hand, and high costs as a result of failure.

The ongoing computing and communications revolution has numerous economic and social impacts on modern society and requires serious social science investigation in order to manage its risks and dangers. Such work would be valuable for both social policy and technology design. Decisions have to be taken carefully. Many choices being made now will be costly or difficult to modify in the future.

1. Shipping Centers May Be the Future

We all know that whenever you feel like having some fun and spending quality time with your friends, going to a shopping mall is the best thing to do. Nowadays, people are so busy that they don’t find time to visit a shopping mall, so they prefer shopping from eCommerce sites.

When we talk about India, shopping center conversion to shipping centers has not started to occur yet. However, there is some buzz that the shopping centers will be converted into shipping centers.

2. You Will Find More Than Just Shopping in Future Malls

Now, we find that most of the shopping centers have not yet realized this.

We need to understand that people want to have concrete reasons to visit a mall because almost everything is available online. That’s why in the future, shopping malls will no longer be just about shopping; these malls will be entertaining people.

These malls will be required to evolve as entertainment centers to attract more visitors. Future shopping malls are expected to offer a relaxed atmosphere that is filled with fun and enjoyment.

The situation will be the opposite of what we see today in Indian malls generally, just a large number of products kept in a row and a dull or stressed atmosphere.

3. Experience is What Will Matter

When we talk about the future of retail in India, there are a lot of expectations.

It is expected that the number of restaurants and other fun attractions will increase to a great extent in the coming years. Also, a new trend of conducting various classes such as yoga class, swimming classes, Zumba classes, etc. will increase. Of course, modern people would no longer be interested in visiting a large building with only products; a unique and unforgettable experience will matter the most.

4. Micro-City Malls Are Going to Be the Future

Now, most people in India are bored with the average stores; they are looking for something interesting. According to several retail experts, the idea of traditional shopping malls will be reinvented in the coming years. As we said earlier, the experience will matter more than extravagance, so retail stores will focus on forming fun communities so that customers get a fantastic experience.

Soon, malls will move forward, integrating body or mental wellness centers in the malls.

The integration of recreational centers into the malls will move the retail industry towards building micro-cities.

5. Integrating Environment

We have come to know that future malls will be more about making people socialize.

At the same time, future malls will start integrating the natural elements to revolutionize the kind of environment we experience today in Indian malls. You may expect to see malls with a spacious layout, totally rebuilding the environment you experience, giving it the appearance of a village.

Some retail industrialists have realized how important it is to provide a unique, friendly, and natural experience. From trees to waterfalls and a peaceful atmosphere with a lot of sunlight in shopping centers, the future of shopping malls in India is perhaps very ”Bright”.

6. Urban Farming Is The Way To Go

Nothing can be more exciting than getting fresh fruits, vegetables, or other food items directly from farms. Well, you can expect this to happen in the future.

In India, this may seem to be ”unrealistic,” but in the coming years, a lot of revolutions are going to occur in the retail industry gradually. Incorporating urban farms in Indian shopping malls will take much time, but we should remember that the future malls will take care of you and your needs more than anything else.

7. Robots

The use of modern technologies in shopping centers is going to increase in the years to come. You can expect to be welcomed by some cool robots in the shopping malls. Also, in the coming years incorporating the use of various technological gadgets will take place.

These robots will also serve as sales representatives. So, the future is going to be filled with technology to make the customer dealing more fulfilling.

8. Virtual fitting Rooms

You know what the center’s future has a lot more than just shopping for products by actually trying them. Like, you may expect to find some mirrors that give you the ability to try makeup digitally. In addition to this, you may also be able to try out different outfits with the help of virtual fitting rooms. So, no more struggling and moving in and out of the trying rooms with many outfits, you want to try.

Note that they again seem ”unrealistic” considering the present scenario of Indian shopping malls, but their scope and future beholds a lot of possibilities.

9. Use Of Virtual Reality

With the use of Virtual Reality, shopping becomes much more comfortable.

VR will also become a source of entertainment. In the future, you may not be required to visit theme parks to get amazing virtual experiences.

From the trip to a zoo to going deep under the sea, virtual reality beholds the future, where shopping malls will provide you unforgettable entertainment.

10. Parking That’s Pain-Free

Do you also find it annoying that whenever you go to the shopping malls, face problems when trying to find a parking place? Well, this is a significant problem with traditional shopping malls. In the future, this scenario will become just one of the horrible experiences of the past. The use of overhead sensors will ease out the process of finding a free parking spot.

11. Not Just Limited to Buying or Purchasing Products

Now, we all know that the concept of rental retails has not yet become standard in Indian shopping centers, but gradually it will. Purchasing that costly dress for a party, that doesn’t seem to be a good idea. In the future, you will be able to rent out expensive products that may include exercise equipment or a costly outfit.

12. 3D Advertisements

In almost every average shopping mall, we have seen those bright colored signboards, these things may also become things of the past. Holographic advertisements are going to be the future. In the coming years, you can expect to see more 3D ads that are eco-friendly and can grab the customer’s attention very quickly.

13. Customer Interaction Via Apps

We are already aware of the fact that Apps are being used everywhere. Many shopping giants in India already have their apps for customer interaction. But, in the future, this will increase to a great extent. Navigation through the shopping mall will become smooth, like never before. These apps will give the liberty to reserve the restaurants in advance.

14. Learning Spaces

Soon, you may also find reading rooms in shopping centers, this is following what you earlier said that future shopping malls are going to be more about wellness and learning.

These shopping malls will incorporate a vast library of books to read from.

15. Classroom Retail

This is another exciting idea that can help companies to interact with the customers in a better way. Classroom retail involves various brands organizing gatherings or seminars, including presentations of their services or products to attract potential customers.

These presentations can include the manufacturing process of the product and the people behind the product’s creation. This is an excellent way of engaging customers in a better way. Future Indian shopping malls are going to educate you at the same time and provide entertainment.

Conclusion

So, we have reached the end of this article. We hope you got an insight into the wonderful things that will enhance your experience in the future in a shopping mall. We can say that there are endless possibilities; we are going to see these things in reality in the future.

Banner stands and roll up banners are beneficial in many ways that are worth taking into account.

Portability

Roll up banners are easily portable since they are lightweight and can be carried with no trouble. Available in cases that are conveniently-sized, they are perfect for people who travel frequently and promote their company’s product at trade show displays and exhibitions. Additionally, they also fulfil the requirements of mobile service providing teams whose jobs require them to travel continually. Along with providing all the information and services to the clients clearly, they also convey a professional impression to the clients.

Attracting customers

Designed specially to attract potential clients, they stand out among the other dull exhibition tools and pull in customers. Roll up banners display high quality images because of the excellent of the banners. The height of the banners increases their visibility while the attractive designs and vibrant colours stand out and attract potential customers. Customers are more likely to become interested and approach your company’s stall to find out more about the products and services offered.

Easily Installable

Roller banners are acknowledged for being easy and hassle free to set up with spring installed mechanisms that allow the banner to be set up within seconds. When comparisons are drawn between exhibition banners and other displays, theys are often preferred by companies since they are time saving and can easily be assembled or taken apart by anybody and do not require any specific skill set. Setting up a banner stand is a one person job and does not require any added labour or technical knowledge.

Managing space

Apart from saving storage space and keeping it for use later, the retractable banner stand does not take up much space even after being set up. Ideally, it can be put in tight spaces to make the most of its compact style, like in an exhibition cubicle. The space saved is available to be put to better use for other advertising tools and displays, increasing your chances to attract customers to your exhibition stand.

Long-lasting

Along with the advertising benefits, banner stands are also a good investment with long term benefits for your company. Why I say this is because retractable banner stands are made using long-lasting, strong plastic and last forever, even after being used over and over again. This quality also makes them suitable for work done outdoors because of their durability.

When looking for a display to improve your company’s marketing that is long lasting, conveniently transportable, and effective, and can be installed without any hassle, as well as meets the aims and goals of the company by bringing in clients, retractable banner stands may be the only answer to your requirements.

Artificial Intelligence (AI) and its subsets Machine Learning (ML) and Deep Learning (DL) are playing a major role in Data Science. Data Science is a comprehensive process that involves pre-processing, analysis, visualization and prediction. Lets deep dive into AI and its subsets.

Artificial Intelligence (AI) is a branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. AI is mainly divided into three categories as below

• Artificial Narrow Intelligence (ANI)
• Artificial General Intelligence (AGI)
• Artificial Super Intelligence (ASI).

Narrow AI sometimes referred as ‘Weak AI’, performs a single task in a particular way at its best. For example, an automated coffee machine robs which performs a well-defined sequence of actions to make coffee. Whereas AGI, which is also referred as ‘Strong AI’ performs a wide range of tasks that involve thinking and reasoning like a human. Some example is Google Assist, Alexa, Chatbots which uses Natural Language Processing (NPL). Artificial Super Intelligence (ASI) is the advanced version which out performs human capabilities. It can perform creative activities like art, decision making and emotional relationships.

Now let’s look at Machine Learning (ML). It is a subset of AI that involves modeling of algorithms which helps to make predictions based on the recognition of complex data patterns and sets. Machine learning focuses on enabling algorithms to learn from the data provided, gather insights and make predictions on previously unanalyzed data using the information gathered. Different methods of machine learning are

• supervised learning (Weak AI – Task driven)
• non-supervised learning (Strong AI – Data Driven)
• semi-supervised learning (Strong AI -cost effective)
• reinforced machine learning. (Strong AI – learn from mistakes)

Supervised machine learning uses historical data to understand behavior and formulate future forecasts. Here the system consists of a designated dataset. It is labeled with parameters for the input and the output. And as the new data comes the ML algorithm analysis the new data and gives the exact output on the basis of the fixed parameters. Supervised learning can perform classification or regression tasks. Examples of classification tasks are image classification, face recognition, email spam classification, identify fraud detection, etc. and for regression tasks are weather forecasting, population growth prediction, etc.

Unsupervised machine learning does not use any classified or labelled parameters. It focuses on discovering hidden structures from unlabeled data to help systems infer a function properly. They use techniques such as clustering or dimensionality reduction. Clustering involves grouping data points with similar metric. It is data driven and some examples for clustering are movie recommendation for user in Netflix, customer segmentation, buying habits, etc. Some of dimensionality reduction examples are feature elicitation, big data visualization.

Semi-supervised machine learning works by using both labelled and unlabeled data to improve learning accuracy. Semi-supervised learning can be a cost-effective solution when labelling data turns out to be expensive.

Reinforcement learning is fairly different when compared to supervised and unsupervised learning. It can be defined as a process of trial and error finally delivering results. t is achieved by the principle of iterative improvement cycle (to learn by past mistakes). Reinforcement learning has also been used to teach agents autonomous driving within simulated environments. Q-learning is an example of reinforcement learning algorithms.

Moving ahead to Deep Learning (DL), it is a subset of machine learning where you build algorithms that follow a layered architecture. DL uses multiple layers to progressively extract higher level features from the raw input. For example, in image processing, lower layers may identify edges, while higher layers may identify the concepts relevant to a human such as digits or letters or faces. DL is generally referred to a deep artificial neural network and these are the algorithm sets which are extremely accurate for the problems like sound recognition, image recognition, natural language processing, etc.

To summarize Data Science covers AI, which includes machine learning. However, machine learning itself covers another sub-technology, which is deep learning. Thanks to AI as it is capable of solving harder and harder problems (like detecting cancer better than oncologists) better than humans can.

You have heard about recruitment agencies, but you may not be aware of what these firms do. Just as the name sounds, recruitment agencies are companies or firms that have a list of job vacancies and a database of people who are looking out for jobs. They match their database of job seekers with job vacancies as and when they come up. These agencies sprung up in America in the year 1893. Fred Winslow started an engineering firm in 1893 and that later on became part of a much broader network called the General Employment Enterprise. The mode of operation of this firm was similar to what recruitment agencies do nowadays. The basic aim of recruitment agencies is to identify, locate and then hire workers on permanent or contractual basis. The temporary agencies handle the recruited people on short term contracts. Many companies like to outsource some of their workload during the peak season or when permanent staffs are on holidays. It is to fill this gap that temporary agencies hire people. There have also been situations where temporary staffs have been upgraded to full time jobs if proved efficient.

There are recruitment agencies that provide services within their country and agencies that provide services to employers abroad. International agencies are known to be present in larger numbers than local recruitment agencies. This is due to the fact that there is always a demand for employment abroad and there are more takers for jobs that come from another country. In fact the highest number of recruitment agencies is sourcing employees for the Middle East, where there is a high demand for foreign workers. The agencies in UAE are on the lookout for persons with varying skills and they usually have a job for people from most backgrounds. With the popularity of internet growing there are many agencies that operate online. Such online recruitment agencies are known to be very successful as the information gets across to the prospective employer and the employee at a much shorter time. There are also many recruitment sites where employers can post their requirement and job seekers can post their bio data onto the website. This gives both the employee and the employee a platform to interact before the final decision is taken. Many such online websites are springing up and are proving to be very successful.

In this modern world, many companies rely on recruitment agencies to find the right person for the job. In general, the agencies do not charge a free from the job seeker. It is the employers who pay the recruitment agencies a fee for finding them an employee that suits their requirement. So as a job seeker you do not end up paying for the agencies services. By going through an agency, you can save time that you would otherwise spend going through classified sections. If you are looking for a job in a particular sector, these agencies are your best bet as they will have a list of jobs that you are looking for and that will help you to land up with a job of your preference. These agencies will also be able to help you in preparing your CV and in preparing for interviews. They can also provide you with valuable feedback on the interviews that you attend and help you by doing mock interviews. Many employers prefer to go through recruitment agencies as they are a one point contact for their recruitment needs. Such employers may not entertain you if you apply to them directly. With so many advantages that a job seeker can avail with the help of a agency, it is a good choice to utilize their services.

With a host of recruitment agencies operating in the market, a job seeker has to exercise some caution before entrusting their future with a recruitment agency. Past records of the agency has to be checked properly and it is better to approach one that has been licensed to recruit people. In the case of online sites, go for reputed sites and check their disclaimer before moving forward. There are many bogus agencies that operate in the market and one has to aware of such agencies. These agencies often request job seekers to pay a nominal amount as registration fee and this is a sign for you to be cautious when dealing with the agency. Be smart and be aware otherwise bogus recruitment agencies can take you for a ride.