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Here’s How to Boost up Businesses in Times of Evolving Tech

The lab will develop science-backed hiring apps and tools that can measure diverse traits and abilities

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Team, Scrum Methodology
The performance-conducive transparency and actual visibility of the team ensure great team performances. Pixabay

Focusing on the science behind what makes some start-ups thrive and others fail, Australian researchers have unveiled a new lab that will use cutting edge neuroscience to advise how businesses can thrive in a world of constant technological change.

The “Future Minds Lab”, launched at the University of New South Wales (UNSW) Sydney this week, will include a team of 20 scientists, designers and psychologists to study the fundamental brain science and psychology behind innovation.

The team will work with industry partners to produce products and services to improve the way institutions and businesses approach different forms of innovation.

“Using fundamental research and development, our team is creating products and programmes to ensure workplaces and businesses are more resilient and better equipped to adapt to constant technological change,” Joel Pearson, Professor at the varsity, said in a statement.

“By using cutting edge neuroscience, we can discover what makes successful founders, teams and companies,” Pearson explained.

Business
Think about what you want to get from your employees. Pixabay

The lab, a 300-square metre custom built centre with virtual reality rooms, testing stations, brain stimulation devices, neuroimaging tech and research offices, will be used to develop products such as customised cognitive tests for start-ups and psychological interventions and online education programmes.

“Using technology such as gamified objective tests and mobile brain measurement, we will be able to develop tests that measure traits and abilities like creativity, resilience…” the Professor said.

Also Read- Tech Giant Apple Hits Back at Spotify For Antitrust Complaint: Report

The lab will develop science-backed hiring apps and tools that can measure diverse traits and abilities. These tools will leverage the latest Machine Learning (ML) algorithms to assess job candidates’ fit for specific roles and organisations.

“Workshops will be delivered to start-up founders that aim to increase their resilience and stress management techniques, decrease burnout, and help founders enhance their mental fitness,” Pearson noted. (IANS)

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Digital Transactions in Delhi-NCR Grew by 235% Last Year: Razorpay

Online transactions in Delhi-NCR grew 235% in 2019

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Online Transactions
Online transactions in Delhi-NCR grew by 235 per cent in 2019 and it was the third most digitized region in 2019. Pixabay

Digital transactions in Delhi-NCR grew by 235 per cent from 2018 (January-December) to 2019 (January-December) and the region was the third most digitised state in 2019, thus, contributing 13.05 per cent in 2019 (up from 10.9 per cent in 2018), said a new report by full-stack financial services company Razorpay on Tuesday.

“The last year has been buzzing for the fintech sector in Delhi, with the adoption of new digital payment modes and bringing the digital currency to the mainstream. The last six months saw a tremendous shift in the consumption patterns of businesses and consumer preferences of digital payments in the region.

“With UPI growing by a whopping 442 per cent in Delhi, I am certain that this payment method will overtake cards by at least 20 per cent in the next 12 months,” Harshil Mathur, CEO and co-founder of Razorpay, said in a statement.

Online Transactions
Credit and Debit cards contributed 46 per cent in digital transactions. Pixabay

In 2019, Karnataka saw the highest adoption of digital payments (26.64 per cent) followed by Maharashtra (15.92 per cent) and Delhi NCR (13.01 per cent).

While the usage of cards (46 per cent) and netbanking (11 per cent) saw a decline in 2019, down from 56 per cent and 23 per cent for cards and netbanking, respectively in 2018, UPI (38 per cent) went up from 17 per cent in 2018.

Amazon Pay was the most preferred wallet among consumers (33 per cent), followed by Ola Money (17 per cent) in 2019.

Also Read- India Witnesses Fall in the Number of Cyber Threats in 2019: Kaspersky

The top three sectors in digital payment adoption for 2019 were food and beverage (26 per cent), financial services (12.5 per cent) and transportation (8 per cent).

Among UPI, Google Pay contributed 59 per cent, PhonePe contributed 26 per cent, followed by Paytm (7 per cent) and BHIM (6 per cent) in digital transactions in 2019. (IANS)