The brand is offering an exclusive opportunity for cricket aficionados to spend the night at Wakefit’s Bodakdev outlet in Sarkhej-Gandhinagar, Ahmedabad.

Amidst surge in hotel prices in Ahmedabad due to World Cup final, Wakefit offers free accommodation

The India bottling arm of Coca-Cola is in the advanced stage of discussions to sell some of its units, a media report said.  Hindustan Coca-Cola Beverages

Grapevine: Coca-Cola India to sell some facilities; Elevation may back Wakefit

Expert review of Sleepwell mattress - price & technical specs. View comparison (real pictures) with reputed competitors such as Sunday, Kurlon, Wakefit.

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Wakefit saw its revenue from operations increase by 28% to INR 813 Cr during the year under review from INR 632.5 Cr in FY22

After Spending INR 96 Cr On Advertising, Wakefit Incurs INR 146 Cr Loss In FY23

Let us take a look at some of the odd-paying jobs in the world. The Bengaluru-based online firm Wakefit recently offered a job in which the employees were required to sleep for 9 hours. They are being paid Rs 1 lakh for this job. The company aims to test ...

Sleeping To Pushing Passengers On Trains, Strange Jobs That Pay In Lakhs

The Sleep Company SmartGRID Orthopaedic Pro ₹52,900₹33,490 4.6 Wakefit Orthopaedic Mattress ₹22,999₹16,328 4.5 SleepyCat Original Ortho Mattress with AirGen Memory Foam Upgrade ₹17,999₹15,299 4.4 The Sleep Company SmartGRID Luxe Royale Latex ...

10 Best Mattress for Back Pain in India 2023 - Orthopaedic Verified

Sleep is one of the most important aspects of living a healthy lifestyle, and a good mattress may make or break your sleep quality. But, with so many brands and options on the market, how can you find the right one for you?

10 Best Mattress Brands in India 2023 - Sleep Experts Tested

Speaking to BestMediaInfo.com on the incremental trend of brands leveraging pop-culture references in ads, several industry professionals emphasised that while such an approach may help in tapping int

Pop-culture references in ads can only do good when used as a device and not as idea

SCGI plans to raise about $100 million for Infinity Learn through private equity, says Sushma Bopanna, CEO and Academic Director of Sri Chaitanya Educational Institutions and Founder-Director of Infinity Learn.

Sri Chaitanya’s edtech bets; CarDekho posts 46% rise in FY23 revenue

Bengaluru-based Wakefit aims to become profitable by FY24 and is eyeing a revenue of Rs 1,200 crore in the next two years.

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Wakefit

wakefit

By Maxwell Dallinga Data is a pivotal aspect of every modern manufacturing and distribution business. It helps inform decisions, indicate areas of success and failure, and create unique insights to improve and innovate. Yet the collection and use of data can quickly get messy. Without a means to extract, aggregate, and sort through your data, gleaning meaningful insight will become next to impossible. So, how can you effectively manage your data? Many manufacturers, distributors, and supply chain organizations use data integration tools to gain meaningful insights from their ERPs. What Is Data Integration and Why is it So Important? Data integration is the process of unifying data from multiple (often disparate) sources, systems, and applications. Across an organization, integration is a vital step in keeping data consistent. By unifying data from previously disconnected or disparate sources, it allows an organization’s data to be effectively assessed and analyzed. In essence, data integration keeps your ERP connected, providing your organization with a robust and holistic view of your data. Despite this, integration can pose problems for manufacturers and distributors. The most prominent issue? Manual data integration. A recent study from Intowave [1] stated that around 74% of manufacturers are still relying on manual data integration techniques. This means using employees for data extraction, transformation, and aggregation to keep outdated systems operating. While manual integration can function, it is often at the expense of wild inefficiency. It drives up costs, takes copious amounts of time, and can damage the accuracy and reliability of data. As well, it often becomes a crutch to keep legacy ERPs connected and up to date. Overall, manual data integration can become a major roadblock for any manufacturer or distributor looking to sustainably scale and improve. To combat this, many organizations turn to data integration tools to provide data automation capabilities. As an automation solution, using a data integration tool can be extremely effective in fixing the inefficiencies of manual data integration. Top 3 Reasons You Should Adopt Data Integration Tools A recent study from Fivetran concluded that companies spend an average of $520K per year on data engineers that manually build and maintain data pipelines [2]. As such, finding a way to automate the integration process can result in huge cost-benefits. With such a massive margin to save, you may consider some of the many benefits provided by data integration tools: 1. Improvement of Data Accuracy Bad data, according to Christina R. Fritsch of The National Law Review [3], costs US companies upwards of 3 trillion dollars every year. This isn’t a number to take lightly. With modern business strategies putting huge reliance on data analysis, poor data management is a massive hindrance. Yet with data integration tools, you can significantly improve your organization’s data quality. For one, integration tools remove the potential for human error. Moreover, they can provide more reliable information on inventories, customers, sales, and other important metrics. With improved accuracy, you can put far more trust into your data, and in turn, your business decisions. 2. Superior Decision Making From stronger data accuracy, intelligence, and accessibility, you can ensure more informed decisions within your organization. In addition, integration tools make the speed at which data can be accessed and analyzed significantly faster. According to Agility PR [4], around 9 out of 10 companies cannot conduct real-time analytics from their ERPs. This problem, however, is largely mitigated by effective automation with data integration tools. Automating integration tasks previously done manually, you can ensure much quicker data analysis capabilities, helping you make timely decisions. Thus, with faster, more informative, and more reliable data, you can ensure superior decision making. 3. Greater Efficiency and Productivity Without data integration tools, companies spend around 44% of their time hiring engineers to build and maintain data pipelines [2]. Integration tools prevent this by eliminating costly errors and saving time, effort, and labor costs spent manually integrating data. Using data automation to perfect integration tasks previously executed by employees, integration tools improve the efficiency and productivity of your operation. More importantly, freeing employees from these manual tasks can be greatly proactive. Instead of wasting their talent, employees will be able to focus on scaling, improving, and innovating. The Best Data Integration Tools for Your Systems When looking to implement ERP integration effectively, you should consider which tool works best for the job. This means understanding which backend ERP systems you use to run your business. Listed below are some of the best data integration tools to consider so you can gain better ERP insights: Kore Integrate Kore Integrate is a data warehousing solution that will improve your data reporting, scalability, functionality, and speed. For those who use Rocket Software’s UniVerse and UniData MultiValue databases, Kore Integrate is one of the best integration solutions. Kore’s data integration tool can also pull from ODBC-enabled data sources like SQL, Postgres, Oracle, etc. By connecting disparate sources, you can create a unified view of the important data within your organization, while reducing operational costs. Infor OS Infor OS can help manufacturers and distributors integrate their Infor LN system. Aiding in workflows, OS can help connect all your disparate systems effectively. Providing workflow automation, Infor OS is a useful tool for anyone using an Infor LN and looking for ERP integration. With capabilities that meet your needs, Infor OS might be a great solution for you. Oracle Cloud Infrastructure Oracle Cloud Infrastructure (OCI) provides a robust suite of pre-built connectors to organizations using Oracle Fusion ERP. Offering great data automation capabilities, OCI can deliver strong and up-to-speed analytics for your Oracle system. Designed to connect both cloud and on-premise applications, it can help you integrate your ERP effectively. The Bottom Line for Supply Chain Organizations, Manufacturers and Distributors As data becomes increasingly important for modern manufacturers and distributors, being able to manage your data effectively is vital. The bottom line is that data integration tools are a necessary step to modernize your organization’s data systems. Ultimately, integration tools will save you time, money, and resources to put toward proactive aspects of your business. References: [1] Intoware, I. (2022, July). Break Free From Disconnected Data — Process & Control July Issue 2022. Break free from disconnected data — Process & Control July issue 2022. https://www.intoware.com/resources/break-free-from-disconnected-data [2] Fivetran (2021) Wakefield Research Analysis of Results for Fivetran. Fivetran https://get.fivetran.com/rs/353-UTB-444/images/2021-CDL-Wakefield-Research.pdf [3] Fritsch, C. R. (2022, December 23). 12 days of CRM: Day 9 — how much does bad data actually cost?. The National Law Review. https://natlawreview.com/article/12-days-crm-day-9-how-much-does-bad-data-actually-cost [4] Carufel, R. (2022, May 19). Data Disconnect: Over 80 percent of companies rely on stale data for decision-making. Agility PR Solutions.https://www.agilitypr.com/pr-news/public-relations/data-disconnect-over-80-percent-of-companies-rely-on-stale-data-for- By Maxwell Dallinga Maxwell Dallinga Data is a pivotal aspect of every modern manufacturing and distribution business. It helps inform decisions, indicate areas of success and failure, and create unique insights to improve and innovate. Yet the collection and use of data can quickly get messy. Without a means to extract, aggregate, and sort through your data, gleaning meaningful insight will become next to impossible. So, how can you effectively manage your data? Many manufacturers, distributors, and supply chain organizations use data integration tools to gain meaningful insights from their ERPs. What Is Data Integration and Why is it So Important? Data integration is the process of unifying data from multiple (often disparate) sources, systems, and applications. Across an organization, integration is a vital step in keeping data consistent. By unifying data from previously disconnected or disparate sources, it allows an organization’s data to be effectively assessed and analyzed. In essence, data integration keeps your ERP connected, providing your organization with a robust and holistic view of your data. Despite this, integration can pose problems for manufacturers and distributors. The most prominent issue? Manual data integration. A recent study from Intowave [1] stated that around 74% of manufacturers are still relying on manual data integration techniques. This means using employees for data extraction, transformation, and aggregation to keep outdated systems operating. While manual integration can function, it is often at the expense of wild inefficiency. It drives up costs, takes copious amounts of time, and can damage the accuracy and reliability of data. As well, it often becomes a crutch to keep legacy ERPs connected and up to date. Intowave Overall, manual data integration can become a major roadblock for any manufacturer or distributor looking to sustainably scale and improve. To combat this, many organizations turn to data integration tools to provide data automation capabilities. As an automation solution, using a data integration tool can be extremely effective in fixing the inefficiencies of manual data integration. Top 3 Reasons You Should Adopt Data Integration Tools A recent study from Fivetran concluded that companies spend an average of $520K per year on data engineers that manually build and maintain data pipelines [2]. As such, finding a way to automate the integration process can result in huge cost-benefits. With such a massive margin to save, you may consider some of the many benefits provided by data integration tools: Fivetran 1. Improvement of Data Accuracy Bad data, according to Christina R. Fritsch of The National Law Review [3], costs US companies upwards of 3 trillion dollars every year. This isn’t a number to take lightly. With modern business strategies putting huge reliance on data analysis, poor data management is a massive hindrance. Yet with data integration tools, you can significantly improve your organization’s data quality. For one, integration tools remove the potential for human error. Moreover, they can provide more reliable information on inventories, customers, sales, and other important metrics. With improved accuracy, you can put far more trust into your data, and in turn, your business decisions. The National Law Review 2. Superior Decision Making From stronger data accuracy, intelligence, and accessibility, you can ensure more informed decisions within your organization. In addition, integration tools make the speed at which data can be accessed and analyzed significantly faster. According to Agility PR [4], around 9 out of 10 companies cannot conduct real-time analytics from their ERPs. This problem, however, is largely mitigated by effective automation with data integration tools. Automating integration tasks previously done manually, you can ensure much quicker data analysis capabilities, helping you make timely decisions. Thus, with faster, more informative, and more reliable data, you can ensure superior decision making. Agility PR 3. Greater Efficiency and Productivity Without data integration tools, companies spend around 44% of their time hiring engineers to build and maintain data pipelines [2]. Integration tools prevent this by eliminating costly errors and saving time, effort, and labor costs spent manually integrating data. Using data automation to perfect integration tasks previously executed by employees, integration tools improve the efficiency and productivity of your operation. More importantly, freeing employees from these manual tasks can be greatly proactive. Instead of wasting their talent, employees will be able to focus on scaling, improving, and innovating. The Best Data Integration Tools for Your Systems When looking to implement ERP integration effectively, you should consider which tool works best for the job. This means understanding which backend ERP systems you use to run your business. Listed below are some of the best data integration tools to consider so you can gain better ERP insights: Kore Integrate Kore Integrate is a data warehousing solution that will improve your data reporting, scalability, functionality, and speed. For those who use Rocket Software’s UniVerse and UniData MultiValue databases, Kore Integrate is one of the best integration solutions. Kore’s data integration tool can also pull from ODBC-enabled data sources like SQL, Postgres, Oracle, etc. By connecting disparate sources, you can create a unified view of the important data within your organization, while reducing operational costs. Kore Integrate Kore Integrate Infor OS Infor OS can help manufacturers and distributors integrate their Infor LN system. Aiding in workflows, OS can help connect all your disparate systems effectively. Providing workflow automation, Infor OS is a useful tool for anyone using an Infor LN and looking for ERP integration. With capabilities that meet your needs, Infor OS might be a great solution for you. Infor OS Infor OS Oracle Cloud Infrastructure Oracle Cloud Infrastructure (OCI) provides a robust suite of pre-built connectors to organizations using Oracle Fusion ERP. Offering great data automation capabilities, OCI can deliver strong and up-to-speed analytics for your Oracle system. Designed to connect both cloud and on-premise applications, it can help you integrate your ERP effectively. Oracle Cloud Infrastructure The Bottom Line for Supply Chain Organizations, Manufacturers and Distributors As data becomes increasingly important for modern manufacturers and distributors, being able to manage your data effectively is vital. The bottom line is that data integration tools are a necessary step to modernize your organization’s data systems. Ultimately, integration tools will save you time, money, and resources to put toward proactive aspects of your business. References: [1] Intoware, I. (2022, July). Break Free From Disconnected Data — Process & Control July Issue 2022 . Break free from disconnected data — Process & Control July issue 2022. https://www.intoware.com/resources/break-free-from-disconnected-data Break Free From Disconnected Data — Process & Control July Issue 2022 [2] Fivetran (2021) Wakefield Research Analysis of Results for Fivetran. Fivetran https://get.fivetran.com/rs/353-UTB-444/images/2021-CDL-Wakefield-Research.pdf Wakefield Research Analysis of Results for Fivetran. [3] Fritsch, C. R. (2022, December 23). 12 days of CRM: Day 9 — how much does bad data actually cost? . The National Law Review. https://natlawreview.com/article/12-days-crm-day-9-how-much-does-bad-data-actually-cost 12 days of CRM: Day 9 — how much does bad data actually cost? [4] Carufel, R. (2022, May 19). Data Disconnect: Over 80 percent of companies rely on stale data for decision-making . Agility PR Solutions.https://www.agilitypr.com/pr-news/public-relations/data-disconnect-over-80-percent-of-companies-rely-on-stale-data-for- Data Disconnect: Over 80 percent of companies rely on stale data for decision-making

The 3 Main Reasons Manufacturers and Distributors Should Use Data Integration Tools

This paper is available on arxiv under CC 4.0 license. Authors: (1) Pietro Ghezzi, Brighton & Sussex Medical School, Falmer, Brighton, UK; (2) Peter G Bannister, Brighton & Sussex Medical School, Falmer, Brighton, UK; (3) Gonzalo Casino, Communication Department, Pompeu Fabra University, Barcelona, Spain and Iberoamerican Cochrane Center, Barcelona, Spain; (4) Alessia Catalani, Department of Biomolecular Sciences, University of Urbino Carlo Bo, Urbino, PU, Italy; (5) Michel Goldman, Institute for Interdisciplinary Innovation in healthcare (I3h), Université libre de Bruxelles; (6) Jessica Morley, Oxford Internet Institute, University of Oxford, Oxford, UK; (7) Marie Neunez, Institute for Interdisciplinary Innovation in healthcare (I3h), Université libre de Bruxelles; (8) Andreu Prados, Communication Department, Pompeu Fabra University, Barcelona, Spain, Iberoamerican Cochrane Center, Barcelona, Spain, Department of Biomolecular Sciences, University of Urbino Carlo Bo, Urbino, PU, Italy, Institute for Interdisciplinary Innovation in healthcare (I3h), Université libre de Bruxelles, Oxford Internet Institute, University of Oxford, Oxford, UK, and Blanquerna School of Health Sciences, Universitat Ramon Llull, Barcelona, Spain; (9) Mariarosaria Taddeo, Oxford Internet Institute, University of Oxford, Oxford, UK, Blanquerna School of Health Sciences, Universitat Ramon Llull, Barcelona, Spain, and The Alan Turing Institute, London, UK; (10) Tania Vanzolini, Department of Biomolecular Sciences, University of Urbino Carlo Bo, Urbino, PU, Italy; (11) Luciano Floridi, Oxford Internet Institute, University of Oxford, Oxford, UK, Blanquerna School of Health Sciences, Universitat Ramon Llull, Barcelona, Spain, and The Alan Turing Institute, London, UK. Table of Links Abstract and Introduction Methods Web search and content analysis Results Discussion Conclusion and References Table 1. Example of classification of webpages Table 2. Percentage of vaccine-negative webpages in different SERPs Conclusion Our analysis shows that while it may well be technically possible to design a search engine that manages to balance privacy-preservation with the promotion of high IQ material, this is currently not the case. The current relationship between privacy-preserving design features of search engines and the IQ of the results they return is inverse (although not proportionally). In instances where this can have a negative impact on public health, as in the example we have provided of the promotion of anti-vaccine misinformation, not intervening to alter the design of the algorithm even if this means sacrificing some degree of user privacy - can lead to severe harm for a large population of user and is, therefore, unethical. Designing a search engine that is privacy savvy and avoids issues with filter bubbles that can result from user-tracking may be a good thing, like designing a car with an engine that does not pollute and is inexpensive to run, and designers should seek to balance the different aspects of search engine design highlighted in Figure 3. However, if the brakes in an environmentally-designed car do not work, the car is unsafe and this negates the positive ethical decisions made by the designers. In a car this is a highly unlikely design outcome, as a car has to undergo several rounds of testing by regulatory agencies before being allowed on the market. This is not yet the case for search engines, which are only regulated from the perspective of data protection – which is primarily interpreted as data security rather than data privacy. Our study suggests that this is necessary but insufficient, and instead mechanisms should be developed to test search engines from the perspective of IQ, (particularly for YMYL webpages) before they can be deemed trustworthy providers of public health information. References 1. World Health Organization. Ten threats to global health in 2019. 2019. https://www.who.int/emergencies/ten-threats-to-global-health-in-2019 (archived at https://web.archive.org/web/20190627111040/https://www.who.int/emergencies/ten-threats-toglobal-health-in-2019) (accessed 27/06/2019 2. Wakefield AJ, Murch SH, Anthony A, et al. Ileal-lymphoid-nodular hyperplasia, non-specific colitis, and pervasive developmental disorder in children. Lancet 1998; 351(9103): 637-41. 3. Stahl JP, Cohen R, Denis F, et al. The impact of the web and social networks on vaccination. New challenges and opportunities offered to fight against vaccine hesitancy. Med Mal Infect 2016; 46(3): 117-22. 4. Martin GP, Sutton E, Willars J, Dixon-Woods M. Frameworks for change in healthcare organisations: a formative evaluation of the NHS Change Model. Health Serv Manage Res 2013; 26(2-3): 65-75. 5. Illari P, Floridi L. Information quality, data and philosophy. The Philosophy of Information Quality: Springer; 2014: 5-23. 6. Al-Jefri M, Evans R, Uchyigit G, Ghezzi P. What is health information quality? Ethical dimension and perception by users. Frontiers in medicine 2018; 5. 7. Norman CD, Skinner HA. eHEALS: The eHealth Literacy Scale. J Med Internet Res 2006; 8(4): e27. 8. Chen X, Hay JL, Waters EA, et al. Health Literacy and Use and Trust in Health Information. J Health Commun 2018; 23(8): 724-34. 9. Paige SR, Krieger JL, Stellefson ML. The Influence of eHealth Literacy on Perceived Trust in Online Health Communication Channels and Sources. J Health Commun 2017; 22(1): 53-65. 10. Kim J, Park HA. Development of a health information technology acceptance model using consumers' health behavior intention. J Med Internet Res 2012; 14(5): e133. 11. Borah P, Xiao X. The Importance of 'Likes': The Interplay of Message Framing, Source, and Social Endorsement on Credibility Perceptions of Health Information on Facebook. J Health Commun 2018; 23(4): 399-411. 12. Huo C, Zhang M, Ma F. Factors influencing people’s health knowledge adoption in social media: the mediating effect of trust and the moderating effect of health threat. Library Hi Tech 2018; 36(1): 129-51. 13. Chiou L, Tucker C. Search engines and data retention: Implications for privacy and antitrust: National Bureau of Economic Research, 2017. 14. Esteve A. The business of personal data: Google, Facebook, and privacy issues in the EU and the USA. International Data Privacy Law 2017; 7(1): 36-47. 15. Floridi L, Taddeo M. What is data ethics? : The Royal Society; 2016. 16. Moskvitch K. Amazon’s Alexa deal with the NHS can help patients but at what cost? Wired, 2019. (accessed 8/11/2019). 17. Arif N, Al-Jefri M, Bizzi IH, et al. Fake News or Weak Science? Visibility and Characterization of Antivaccine Webpages Returned by Google in Different Languages and Countries. Front Immunol 2018; 9: 1215. 18. Maki A, Evans R, Ghezzi P. Bad news. Analysis of the quality of information on influenza prevention returned by Google in English and Italian. Frontiers in Immunology 2015; 6:616. doi: 10.3389/fimmu.2015.00616. 19. Fleiss JL, Levin B, Paik MC. Statistical methods for rates and proportions. Hoboken, NJ, USA: John Wiley & Sons; 2013. 20. Economist T. Seek and you shall find. Google rewards reputable reporting, not left-wing politics. The Economist 2019; 431(9146): 85. 21. Taddeo M, Floridi L. The Debate on the Moral Responsibilities of Online Service Providers. Science and engineering ethics 2015: 1-29. 22. Mittelstadt BD, Allo P, Taddeo M, Wachter S, Floridi L. The ethics of algorithms: Mapping the debate. Big Data & Society 2016; 3(2): 2053951716679679. 23. Association for Computing Machinery. ACM Code of Ethics and Professional Conduct. 2018. https://www.acm.org/code-of-ethics (archived at https://web.archive.org/web/20190627114921/https://www.acm.org/code-of-ethics) (accessed 27/06/2019 2019). 24. Tufekci Z. Algorithmic harms beyond Facebook and Google: Emergent challenges of computational agency. Colo Tech LJ 2015; 13: 203. 25. Hasnas J. Teaching business ethics: The principles approach. Journal of Business Ethics Education 2013; 10: 275-304. 26. Macdonald C, Gavura S. Alternative Medicine and the Ethics Of Commerce. Bioethics 2016; 30(2): 77-84. 27. Taddeo M, Floridi L. The Debate on the Moral Responsibilities of Online Service Providers. Sci Eng Ethics 2016; 22(6): 1575-603. 28. Chigwedere P, Seage GR, 3rd, Gruskin S, Lee TH, Essex M. Estimating the lost benefits of antiretroviral drug use in South Africa. J Acquir Immune Defic Syndr 2008; 49(4): 410-5. 29. Ouyang Y. Student's death highlights gaps in China's health regulations. Lancet Oncol 2016; 17(6): 709. 30. Browne M, Thomson P, Rockloff MJ, Pennycook G. Going against the Herd: Psychological and Cultural Factors Underlying the 'Vaccination Confidence Gap'. PLoS One 2015; 10(9): e0132562. 31. Bean SJ. Emerging and continuing trends in vaccine opposition website content. Vaccine 2011; 29(10): 1874-80.

Online Information of Vaccines: Conclusion and References

In the financial sector, a troubling trend is emerging: a 17 percent increase in fraud driven by AI-generated identities. Surprisingly, 76 percent of financial experts suspect their organizations have unknowingly accepted these artificial identities. Moreover, 87 percent of these professionals predict the situation will worsen before effective solutions are developed. This insight comes from a survey of 500 finance and FinTech professionals , a company fighting synthetic identity fraud. As the challenge looms large, the industry braces for a complex battle, with hope pinned on future innovations. conducted by Wakefield for Deduce “I would say the use of AI in fraud is probably the most significant risk facing us. There’s going to be an innovation’ arms race’, and we’re always going to be behind if you’re on the ‘good side’ of the fraud fight: a criminal can innovate quickly and just use it, and come up with a scam. We will take a long time to keep up with that unless we take innovation as a default position,” said Nick Sharp, Deputy Director at the National Economic Crime Centre (NECC), during a panel discussion at a UK-focused conference in London. , the frequency of scam attempts is climbing, with National Trading Standards reporting last year that nearly three out of every four UK adults have encountered scams, and 35% of them, which translates to about 19 million people, have lost money due to these fraudulent schemes. According to Uktech.news A study conducted by cybersecurity firm McAfee revealed that one in four adults has faced some form of AI voice scam. In a notable incident earlier this month, an employee at an international company was deceived into sending to fraudsters through a convincing deepfake video call. $25 million Synthetic Fraud: The New Frontier Financial service providers, including those offering loans, credit cards, and credit evaluations, have long been confronted by fraudsters who exploit another person’s personal information to fabricate fake identities for financial gain. emphasize that this type of fraud, known as “synthetic fraud,” has become more sophisticated with the advent of generative AI technologies. Experts from the FinTech Payrow Generative AI encompasses tools that can create content in various formats—text, images, audio, and video — from simple prompts, enhancing the ease and speed of executing scams. This includes: Spreading phishing messages more efficiently. Constructing online presences for fake identities to make them seem real. Mimicking real people’s activities to gather more personal information. Synthetic fraud, which blends real and false information, poses a greater challenge for credit monitoring and security services. Fraudsters are shifting towards impersonation tactics, deceiving individuals and businesses into making payments to entities that appear legitimate. Victims often include those who seldom check their credit reports, those with readily available online information, and groups less informed about fraud risks, such as the young and elderly. Countering AI-enabled fraud requires extensive legitimate data for pattern recognition, a challenge more complex than traditional identity theft, where fraud involves the unauthorized use of someone’s personal details. Chatbots: The New Frontier for Fraudsters Criminals are now leveraging chatbots, such as ChatGPT and Dall-E, to enhance their hacking and scamming efforts. ChatGPT’s capacity to generate customized content from minimal inputs presents a risk as it can create personalized scam and phishing communications. For example, ), the backbone of AI chatbots like ChatGPT, scammers can generate phishing messages specifically designed for an individual. Despite safeguards to prevent misuse, such exploitation remains a concern. by inputting basic personal information into a large language model (LLM LLMs also enable scammers to execute phishing operations on a massive scale, reaching thousands in their native languages. Evidence from hacking forums shows criminals utilizing ChatGPT for fraudulent purposes, including information theft and ransomware creation. New variants of malicious large language models, such as WormGPT and FraudGPT, have emerged, capable of generating malware, identifying system vulnerabilities, offering scamming advice, facilitating hacking, and compromising electronic devices. Another variant, Love-GPT, targets individuals through romance scams on dating platforms by generating fake profiles that engage users in conversation. The international challenge extends to the creation of phishing emails and ransomware using AI, raising concerns about privacy and trust on platforms like ChatGPT and CoPilot. The increased reliance on AI tools risks exposing personal and corporate information, either through their integration into future training datasets or potential breaches that could disseminate sensitive data. Future-Proof Your Digital Life and Finances has recently announced the launch of an AI scam detection tool. According to them, AI technology can be highly effective in combating scams. This new feature from the FinTech company intervenes when it identifies a high probability that a transaction is fraudulent. Users attempting to make such a payment are automatically redirected to a “scam intervention flow,” which encourages them to reassess the transaction’s context and provides information on common scam tactics. Revolut While FinTech companies ponder how to protect our finances from artificial intelligence attacks, we can take a number of protective actions on our own. Exercise increased caution with seemingly authentic messages, videos, images, and calls, which might be AI-generated. Verify their legitimacy through a trusted source. It’s advisable to refrain from sharing sensitive information with ChatGPT and similar LLMs and to remain aware of their limitations, including the potential for inaccurate responses, especially in critical applications like medical diagnosis and professional tasks. Lastly, consult your employer about using AI technologies in the workplace to ensure compliance with any existing policies or restrictions. Adopting these precautions can help mitigate known and emerging threats as AI technology continues to evolve. The article offers steps for safeguarding your identity online and advice on what to do if you receive a suspicious call. “Voices of Deception: Guide to Protecting Yourself from AI Voice Scams”

FinTech Wary as AI Fuels Financial Crime Surge

Startups of The Year 2023 Winners: Europe

Document management is a pain for most businesses. In fact, according to a recent survey by M-Files, a Finnish startup pioneering document workflow automation, 65% of employees face challenges when reviewing and approving documents. Some of these challenges include but are not limited to finding the correct document version, mislabeling of documents, complicated signature processes, or the need to access the physical device where company documents are stored. Here’s where document workflow automation shines. What’s more, is that most employees want an automated system for naming and tagging documents anyway. Once you deploy a battle-tested document management system, you’ll have ready answers to almost all of these challenges. In this article, we’ll explore 5 key benefits of document , so that you can be well-rooted on your digital transformation endeavor. workflow automation for your enterprise Let’s get started discovering how you can shape the success of your enterprise while leaving behind document management inefficiencies. 1. Increased Productivity Employee productivity should be top on your to-do list. However, working with documents can be a bitter and cumbersome experience for your employees. In fact, according to a recent report from Wakefield Research, say they spend more time searching for documents and files than responding to emails or messages. 54% of US professionals So basically, you either have to locate these files or reproduce them which results in time wastage. This increases the chances that a document gets lost or misfiled. For example, a sales team may have to wait for days before the legal department approves a contract. The HR department may have to manually process hundreds of employee forms every month. But did you know that your workers could be spending this time on tasks that actually benefit your company rather than looking for lost documents? An automated document workflow that handles your documents can boost employee productivity, save time, and reduce stress. For example, an automatic routing system can route the documents to the right team member for review and approval. and is less prone to human error, thereby creating a seamless experience for your customers. The solution is an efficient document-generation process that improves the accuracy of the data Filecenter, for example, introduces an innovative file system by using electronic filing cabinets. Through one-click scanning and automated OCR, you can transform your document generation process. Couple this with automatic rules-based naming and routing, and your productivity can see new heights. 2. Enhanced Security How secure are your company documents? Getting your confidential documents in the wrong hands can make your company's data vulnerable, besides possibly getting you in trouble with law enforcement for breaking compliance regulations. and following compliances such as HIPAA, FERPA, SOC2, and CCPA enables you to provide secure document sharing and managing for your company and customers. Having powerful encryption systems such as 256-bit Advanced Encryption (AES) It’s because businesses, startups included, are always being targeted by hackers and people with malicious intent. Small and large companies face data loss and data breaches on a regular basis. A document management workflow equips you with all such security benefits, no matter what type of document you need to deal with. You can control who can view and access your documents, ensuring privacy. Storing your documents in a secure cloud rather than more accessible storage systems can add to document security. Dell reports that 44% of IT decision-makers view cloud storage as their top focus. With a document system, you can encrypt documents, provide access to only authorized personnel, and generate audit trails. Additionally, your business can benefit from watermarking, password protection, and automated document expiry, features offered by document management software. In fact, a case study from Locklizard shows how ARM, a leading technology provider of processor IP, took control of their sensitive and confidential document data by using their document security tools. It highlights how ARM used PDF expiry, secure PDF writer, screen capture prevention, location locking, and protected web viewing from Locklizard to secure information. 3. Easy Collaboration Are you working on a task with other team members? Communication tools, remote file access, and sharing are crucial for a good collaborative environment in any company. Before document management systems were so common, employees would find it hard to work on a joint task. across the enterprise as the most important document workflow feature. In a survey conducted by Laserfiche, 31% of respondents welcomed the idea of a unified repository for all documents With disparate tools and platforms, miscommunication is common, the result of which is , which strains work relationships. a painful collaboration process A unified document-sharing platform, real-time co-authoring, and efficient review and approval processes are some noteworthy benefits of document workflow automation for your enterprise in 2023. These can change the way your employees practice collaboration at work and simplify the document workflow. Better collaboration results in the tasks being in sync and real-time accountability. You can create an environment where team members can work on documents together, no matter where they are. This gets rid of communication gaps, easy and fast document sharing, and fast work turnaround. A seamless document workflow system can handle such collaboration issues and provide solutions for better management of workgroups. So by leveraging platforms like Orangedox, you can quickly set up virtual data rooms that enable you to securely share your confidential documents between parties. This can be a huge time and cost-saving potential for . With secure file sharing, you can ensure easy email collaboration, cloud integration, and participant analytics, informing you who is interested in your business. Mergers & Acquisitions businesses 4. Easy Version Control What is document version control, really? Every document goes through a life cycle where it’s signed, reviewed, approved, revised, or rejected. However, handling different versions of the same paper is not quite easy, especially when you have more than one department involved. Having access to every version of the documents allows you to go back to any version when necessary. Even if you have all the versions available, you need to manually compare each version to find the changes. A Perforce study established that 83% of knowledge workers lose time in every day. This includes repeatedly inputting edits from others, working on the wrong version, and not being able to find the correct version. document versioning problems On the flip side, by leveraging document workflow automation, you don’t have to be confused about which is the most recent version of a document. These solutions have built-in version control systems that allow you to track all changes, have easy and instant access to any past versions, and recognize the latest one. It’ll create a new version of a document each time you edit it, then route it to the right member to ensure everyone is working on the latest version. Warwick Township, a municipality in Pennsylvania, was facing challenges in maintaining its property records. One of the challenges was retrieving different versions of a document. Once they turned to Docsvault, a popular contender in document workflow automation, they were able to automate their document version control system, which enabled them to manage multiple versions of a document with ease. 5. Improved Accessibility Visually impaired people are unable to read documents that are not formatted in a particular way or don’t follow standards. Statistics from the WHO show that about 2.2 billion people have some kind of visual impairment problem. The global productivity cost for this is estimated to be $ 411 billion. Here’s the thing, going through dozens of complex documents, whether physical or digital, can prove to be challenging. As a result, are excluded from essential information, affecting their participation and independence. people with disabilities So an automated document system can benefit your business by improving how fast and easily you have access to documents, and this includes those with special needs. By generating accessible documents, especially when it comes to PDFs, you can reach all kinds of audiences by improving readability. so that disabled people can independently access, read, and interact with these documents. Features like text-to-speech and structured document formats that follow the WCAG standards can make your documents inclusive This promotes equal access to information and services for your employees and customers, something that might be painful to implement when done manually. PDFix is a great example. It allows you to create accessible PDFs that are PDF/UA compliant. In fact, you can incorporate their C++ & Java-based SDK into your document workflows for automated document remediation. It applies PDF remediation techniques to make documents more accessible with auto tags, proper headings, alt text for images, appropriate colors, easy section navigation, and more. You can convert regular PDFs to PDF/UA for accessibility & compliance. Conclusion Automating the document workflow process is not a privilege but a necessity. Did you know that the Nitro productivity report estimated that companies spend an average of $20,000 on document issues? Imagine how much you could save by implementing an automated document workflow system that takes care of all the document handling in your business. I’d go ahead and say that, regardless of the industry your business is in, you can still greatly benefit from workflow automation, or you’ll be streamrolled by the competition. If you want to create a good company environment, satisfy your customers, and (fingers crossed), then document workflow automation solutions are worth looking into. increase your profit margins Now on to you. Have you used any document workflow automation solution before? What are some of the challenges you face when incorporating automation into your, rather manual but working, document management process?

5 Key Benefits of Document Workflow Automation for Your Enterprise in 2023

MODERN PROPHECIES

The lead image for this article was generated by HackerNoon's AI Image Generator via the prompt "a robot working as a cashier" Looking back a decade ago, it's surprising how much Artificial Intelligence has influenced our world in such a short time. In 2023, we’re witnessing the impressive rate at which is progressing and how it is transforming the workforce. A study confirms this viewpoint. AI collaborated with Wakefield Research to survey 500 developers in the US. The objective was to understand the impact of AI tools on their daily work. By conducting thorough surveys and analyzing metrics, they drew the following conclusions: GitHub ✅ AI enables coders to slip into a flow state, bolstering their productivity. ✅ Developers increasingly employ AI to learn new tools, technologies, and processes. ✅ AI effectively minimizes the time spent on repetitive coding, freeing up engineers to concentrate more on designing solutions. This raises important questions like what impact AI will have on the role of human experts, what  fields will be affected the most, and what steps we need to take to stay ahead of the curve and avoid the risk of an unsteady future. Will AI replace the role of human experts? It's no secret that job loss is common in virtually every industry. In the past, laid-off workers could find new employment with little difficulty. However, times have changed, and people are beginning to realize that the once-solid promise of continuous, well-paying employment may no longer be a guarantee. So the short answer to the question is ... Yes, Artificial intelligence may replace a majority of jobs in the near future. According to AI expert Ben Goertzel, this advancement could potentially affect around 80% of jobs. Despite this, there are still opportunities for those willing to put in the time and effort to find them. One promising approach is to focus on the current buzzword in 2023: artificial intelligence jobs. Jobs related to AI and machine learning will remain in high demand for a considerable time, and building a career in this field could be worthwhile. According to recent studies, salaries for jobs related to artificial intelligence have increased by 4%. Additionally, senior software engineers who specialize in AI or machine learning earn an average of 12% more than those who don't. Investors are highly interested in companies that offer AI-related products or services, particularly those involving generative AI, like OpenAI's ChatGPT. The spoke about the company’s intention to cut its workforce by 500 employees to make room for new hires with expertise in AI and early-stage product development. CEO of Dropbox Inc. Similarly, Mark Zuckerberg announced that Meta Platforms Inc. would eliminate 10,000 jobs as part of their focus on creating AI tools to assist engineers in writing code efficiently and automating workloads. Who should be worried, and who shouldn’t be? To cut to the chase, jobs requiring repetitive and mundane tasks are likely to be automated because it is more efficient and cost-effective. Embracing and adjusting to the new era will be a great way to stay ahead of the curve. These tips will help you protect your professional future from the influence of AI. Keep yourself up-to-date on the latest advancements in AI The prevalence of Artificial Intelligence (AI) is on the rise in the workplace, and it's up to you to decide whether to embrace it or risk falling behind. Educating yourself on its capabilities and benefits adds value to your skillset and showcases your creativity and problem-solving abilities. This can improve your reputation and secure your position in any company. According to a survey by in 2023, 97% of employees believe businesses should prioritize AI skills in employee development strategies. Interestingly, more workers are excited about the possibility of using AI in their workplace (58%) than worry about it replacing their jobs (42%). Salesforce Stay flexible In the fast-paced world of work, being adaptable is key. This may involve taking advantage of opportunities to explore a new role, training in a different area, or pursuing professional development and certifications to prepare for the future of your industry. It's important to stay receptive to your career's various paths, even if they differ slightly from your initial expectations. Developing your interpersonal skills will take you far Although AI has made significant progress, there are certain human capabilities that it cannot replicate flawlessly. These include "interpersonal skills" and emotional intelligence, such as connecting with colleagues, resolving conflicts, and convincing others to consider our ideas and perspectives. Improving your emotional intelligence enables you to comprehend nonverbal signals, make wise judgments, and become a better person in general. Expand your professional connections Expanding your network can be a great way to stay ahead of the curve and ensure you're staying caught up in an ever-changing job market. By connecting with others in your field, you'll have access to new ideas, insights, and opportunities that can help you thrive in the age of AI. Whether you're looking for a new job, seeking to enhance your skills, or simply looking to stay up-to-date on the latest trends in your industry, building a strong network is an essential part of staying competitive and successful in today's fast-paced world. So don't be afraid to reach out to others and build those valuable connections today! Leverage the power of AI to your advantage! It's always a good idea to keep in mind that AI is a helpful tool designed by humans to improve efficiency and accelerate processes. When searching for employment, AI tools can be valuable in updating your resume and cover letter or refining your interview skills. AI can handle administrative tasks such as answering repetitive inquiries, scheduling meetings, or analyzing your team's capacity if you're already employed. This lets you focus on more creative pursuits, strategic planning, professional development, team building, and long-term goals during your workday.

The AI Revolution: Navigating the Job Market of Tomorrow

La revolución de la IA: navegando por el mercado laboral del mañana

La révolution de l'IA : naviguer sur le marché du travail de demain

एआई क्रांति: कल के नौकरी बाजार को नेविगेट करना

AI 革命: 明日の雇用市場をナビゲートする

A revolução da IA: navegando no mercado de trabalho de amanhã

Cuộc cách mạng AI: Điều hướng thị trường việc làm của tương lai

人工智能革命：引领未来就业市场

Businesses used to see data as a byproduct of their operations. Nowadays, they should see it as a valuable asset. Unfortunately, many still leave it to gather dust when it could help them increase efficiency, uncover mistakes, and predict trends. This leads to data loss, which can cost companies between $18,000 to $35,000 for 100 files — according to a . Verizon study Although stagnant data doesn’t equal lost data, it’s not far off — especially for businesses that could be using it in their favor. To stop this from happening, companies today can take advantage of practices like data visualization to understand the datasets they’re generating by the minute. As their adoption increases, today’s data visualization tools are designed to require minimal training to get you started on creating informative graphs and charts without being an expert. In 2022, Deloitte reported that of CEOs were already upskilling and reskilling their workforce in different areas to mitigate labor scarcity and skills shortages. Dedicating yourself and your employees to a few hours of data visualization training democratizes data in your company. It allows access for everyone by making data digestible visually, so they can make data-driven decisions and enhance processes. 58% Reading data has been critical to an enterprise’s success since money was invented — but from target audience reports to pricing models, today, every employee benefits from using data somehow. So, let’s explore why upskilling your workforce for data visualization is crucial in 2023. Boosts Revenue By Using Your Data A recent Wakefield Research report found that of executives used data to create revenue; however, only 20% employed all of it. They are struggling to adapt to data’s fast-paced growth — which is where data visualization comes in handy. Businesses don’t need to know how to interpret their massive amounts of data as it rolls in. Visualizations can crunch them down and draw value from them. 96% Tools like Tableau, Looker Studio, and Microsoft Power BI can recover data’s meaning via graphs, trend lines, heat maps, and pie charts, among other illustrations. So rather than meaningless numbers in Excel sheets, your audience — like your staff, investors, and even yourself — can understand information through digestible and organized visuals. New data means new dollars for 56% of executives surveyed in the Wakefield Research report. They were able to identify opportunities they hadn’t previously considered. With data visualizations, teams will see what’s working and what’s not, helping them shift for the better. They might realize they’re overspending or that they could benefit by putting their money elsewhere, and redirect it accordingly. Time is money, but so is data — and knowing how to make it work for you is the secret to improving revenue. By upskilling employees to create data visualizations, many parties will be able to analyze data more easily and put it to good use. Fulfills The Current Digital Skills Gap A recent report found that could go unfulfilled by 2030 due to skills shortages, worsening the current workforce scarcity. While the digital transformation at the workplace marches on, many employees are lagging behind due to outdated skills in emerging technologies. 85 million jobs Business owners were aware of this phenomenon in 2022: 50% of CEOs also expressed to Deloitte that their second biggest concern stemming from external factors is the skills shortage. Data visualization skills aren’t the exception, as the market started growing by leaps and bounds just recently. The industry is expected to go from being worth in 2021 to $28 billion in 2028. $9 billion A shortage in abilities can be a double-edged sword for everyone in business, and upskilling can turn frowns upside down for both employers and employees. Investing time and money in learning programs means your workers are equipped with the right knowledge to handle new processes. Data visualization skills are a part of this mix, providing the workforce with tools to adopt data-driven practices. Upskilling also increases employability and workers’ chances to move up the job ladder. And for business owners, well-prepared workers mean enhanced productivity and efficiency, and more motivated employees. Makes For A Satisfied Workforce Businesses of all sizes are powered by their workforce, and keeping them happy generates positive results. Upskilling can help make this happen. An found that the third biggest reason for employees’ worry is a lack of work progression and training. Workers want to learn and grow and are motivated by this. Adecco study Another report found that surveyed were satisfied or very satisfied with their company’s upskilling programs. Equipping employees with new knowledge empowers them and prepares them to tackle incoming technologies. So, instead of outsourcing and hiring candidates to take on the flurry of new tech, upskilling current employees will actually save businesses recruiting costs. Likewise, offering learning programs improves a company’s benefits package and shows workers that employers are willing to invest in their career growth. 75% of workers Furthermore, according to the , by 2025 professions will demand analytical thinking, creativity, and flexibility. As artificial intelligence (AI) tools continue to automate processes, human insight will make all the difference when performing tasks. World Economic Forum Data visualization also requires a human touch. However, while automation tools can migrate datasets to a visualization platform, training courses teach you how to better apply and read visuals. Data visualization courses usually include storytelling lessons, so that pictorial representations don’t get lost in translation. AI is evolving rapidly to seem human-like, but it will take years (if not impossible) before it manages to add a deeper meaning to charts and graphs, which only skilled humans can do today. The bottom line is data visualization upskilling is a win-win situation for companies of all sizes. It forges competent workers while improving process flows, and even creates new revenue streams. As workplaces digitalize, data intake increases, and this gives businesses new opportunities to learn and grow from it. With data visualization, the job is made easier to analyze and understand your data and make it work for you.

Why Upskilling for Data Visualization Is Essential in 2023

This story was originally published by by . ProPublica Heather Vogell A Texas-based real estate tech company is facing a new barrage of questions about whether its software is helping landlords coordinate rental pricing in violation of antitrust laws. Seventeen Democratic members of the U.S. House of Representatives sent a letter Monday to the Department of Justice and the Federal Trade Commission asking the agencies to investigate RealPage’s rent-setting software. In an Oct. 15 story, ProPublica detailed how to suggest new prices daily for available apartments. RealPage’s pricing algorithm uses competitor data , Reps. Jesús “Chuy” García and Jan Schakowsky, both from Illinois, and other Democratic leaders said that if big property managers and RealPage formed a cartel to artificially inflate rents and decrease the supply of apartments, they could face “potential criminal prosecution.” In the letter The representatives noted that RealPage became dominant in the industry after it purchased its largest competitor in 2017. The Justice Department reviewed the merger but allowed it to proceed. “Our constituents cannot afford to have anticompetitive — and potentially per se illegal — practices drive up prices for essential goods and services at a time when a full-time, minimum-wage salary does not provide a worker enough money to rent a two-bedroom apartment in any city across this country,” they said. A major driver of inflation, median U.S. asking rents grew year-over-year by as much as 18% this spring, before the growth rate slowed this fall, . according to a study by real estate firm Redfin This came, the representatives noted, after the 10 biggest publicly traded apartment companies saw last year, to almost $5 billion. profits rise by more than 50% The Justice Department and Federal Trade Commission did not respond to requests for comment. The House letter adds to growing legal and regulatory pressure on RealPage. U.S. Sen. Sherrod Brown recently sent a calling for a review of the company’s practices. similar request to the FTC Last month, in San Diego alleging the company facilitated collusion among nine of the nation’s biggest property managers. Two more lawsuits have been filed since then. All of them seek class action status. renters filed a lawsuit One suit filed Friday on behalf of two Seattle renters alleges by RealPage and a group of 10 large property managers. a broad pattern of collusive behavior It says that in addition to using RealPage software to inflate rents in downtown Seattle, property managers had employees call competitors regularly seeking detailed nonpublic information on what they were charging — which the employees would change their prices to match. The lawsuit quoted what it said was a former employee of Greystar, the country’s largest property management firm. “You’d call up the competition in the area,” the former employee said, according to the lawsuit. “Sometimes there’d be a list of 10 people to call. Sometimes just one. You’d ask what they are charging for their apartments. Then you’d literally change the prices right there on RealPage. Manually bump it up. “It was price-fixing,” the employee continued, according to the lawsuit. “What else can you call it when you’re literally calling your competition and changing your rate based on what they say?” The lawsuit quoted another former Greystar employee who described making similar calls in Seattle. The worker said someone from another property manager would call looking for pricing information two or three times a day, and added, “If somebody called me looking for numbers, I’d tell them and then turn around and say, ‘now it’s your turn. What are your numbers?’” The lawsuit said that publicly available data showed that advertised rates for the properties offered by the defendants in the suit in the Seattle area were “consistently higher” than those of nondefendants. Greystar and nine other firms named in the lawsuit did not immediately respond to requests for comment. ProPublica found RealPage’s pricing software to be widely used in downtown Seattle, where rents have climbed steeply in recent years. In one neighborhood, ProPublica found, 70% of apartments were overseen by just 10 property managers, every single one of which used RealPage’s pricing software. Another lawsuit, filed by the same group of lawyers earlier this month in U.S. District Court in Seattle, accused RealPage of helping landlords engage in . anti-competitive behavior in the student housing market That lawsuit alleges that a University of Washington student paid higher rent prices because of collusion between landlords using RealPage’s software. The lawsuit names as defendants some of the largest real estate firms in the world, including Greystar and Cushman & Wakefield. It accuses them of artificially inflating rent in such college towns as Seattle; Eugene, Oregon; Tucson, Arizona; Salt Lake City, Utah; Ann Arbor, Michigan; Columbus, Ohio; and Gainesville, Florida. A spokesperson for Cushman & Wakefield, which also owns another firm named in the lawsuit, declined to comment. In response to the San Diego lawsuit alleging collusion, a RealPage representative said the company “strongly denies the allegations and will vigorously defend against the lawsuit.” RealPage has said that the company “uses aggregated market data from a variety of sources in a legally compliant manner.” RealPage did not immediately respond to a request for comment on the new lawsuits and congressional letter. RealPage said previously that its revenue management software prioritizes a property’s own internal supply and demand dynamics over such external factors as competitors’ rents. In an earlier statement, the company said its software helps eliminate the risk of collusion that could occur with manual pricing involving phone surveys of competitor prices. RealPage’s software uses an algorithm to churn through a trove of data to suggest rent prices. The software uses not only information about the apartment being priced and the property where it is located, but also private data on what nearby competitors are charging in rents. The software considers actual rents paid to those rivals, not just what they are advertising, the company told ProPublica. ProPublica’s investigation found that the software’s design and reach have raised questions among experts about whether it is helping the country’s biggest landlords indirectly coordinate pricing — potentially in violation of federal law. Six other firms named in the student housing lawsuit did not immediately respond to requests for comment. One could not be reached. The lawsuit alleges that before property managers began using RealPage’s software in around 2009, the student housing market in the U.S. was competitive, with landlords offering concessions and giveaways as incentives. It says that RealPage called such maneuvers leaving “money on the table.” With the software, landlords in the highly concentrated market for student housing found they could set a “top tier price,” the lawsuit says. It adds that the company claims to have a comprehensive data set that includes key performance indicators for nearly 1,000 universities. YieldStar Student, pricing software tailored for student housing, served more than 50 clients as of 2019, the company claimed, according to the suit. Clients submit detailed internal data on the rent they are charging for each unit to RealPage, the lawsuit says, citing the company. The company’s software recommends a price for each unit, it says, giving landlords “the courage to charge an inflated price by the implicit assurance that all of their competitors were doing the same.” ProPublica reported previously that RealPage said its software helped its clients outperform the market by 3 to 7%. The lawsuit said the collusion among property managers using the software eliminated the need for discounts or lower rent prices even at the start of the school year — traditionally a time when competition for student renters is the fiercest. “Even if some beds remained empty, the monopoly rents RealPage helped extract from the rented units justified the unrented units,” the lawsuit says. Once RealPage was widely adopted by student housing purveyors, the lawsuit says, landlords shifted “from the previous competitive ‘market share over price’ strategy to a new collusive ‘price over volume’ strategy.” Pushing price over volume “is characteristic of a cartelized market,” the lawsuit says. The new strategy increased prices regardless of market conditions and asked landlords to tolerate some unrented units, the lawsuit says — an approach that would fail in a competitive market. “In the market RealPage and Lessors created, each Lessor had mutual assurances that other Lessors would also keep prices high, leaving students with no choice but to pay what Lessors demanded,” the lawsuit says. One study of 2017-2018 data by RealPage and defendant Campus Advantage found one 576-bed complex outperformed its market by 14.1%, despite a “negative” occupancy change year over year, the lawsuit says. It adds: “RealPage advised property owners and potential clients, ‘If you want to outperform the market term after term, focus less on occupancy and more on strategic lease pricing.’” In a statement emailed to ProPublica, Campus Advantage said it “strongly disagrees with the unsubstantiated allegations in the lawsuit and intends to vigorously defend against the claims. Campus Advantage is proud of its track record creating successful communities.” The lawsuit says the defendants had an opportunity to conspire through RealPage’s User Group Forum, which is composed of clients who want to work together to help the company improve its products, as well as at other RealPage functions and industry trade association gatherings. RealPage advisors would also be in regular contact with landlords “to keep them up to date on their competitors,” the lawsuit alleges. RealPage’s actions were not widely known, the lawsuit says. “Only after the recent publication in October 2022 of an article in ProPublica was there a comprehensive presentation of the full scope of the confidential services that RealPage provides to its clients in the real estate industry,” it says. Photo by on Rock Staar Unsplash

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