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<keyword id="561576" type="General" weightage="20" keywordseo="cloud-technology" source="Orion">Cloud technology</keyword> has brought about a revolutionary shift in the field of marketing. Referred to as the 'MarTech 2.0' revolution, this transformation is facilitated by seamless access and control over customer data, analytics, and AI tools. These technological strides are redefining the approach to enhancing customer experiences and effective marketing. Rajesh Jain, Founder &amp; Managing Director of <keyword id="11096287" type="General" weightage="20" keywordseo="netcore-cloud" source="Orion">Netcore Cloud</keyword> and author of 'Startup to Proficorn,' delved into these insights during a discussion with Tim Barnes, General Manager of Advertising &amp; Marketing Technology Vertical at AWS. This conversation was featured in <keyword id="6395918" type="General" weightage="20" keywordseo="saas" source="Orion">SaaS</keyword> Scions, a web series crafted by Business Insider India and AWS India. Netcore Cloud, is among the few <keyword id="6756963" type="General" weightage="20" keywordseo="saas-companies" source="Orion">SaaS companies</keyword> in India that was born before cloud became mainstream. According to Jain, in the current digital landscape, they are providing a multi-channel approach by bringing all the customer engagement data together into a customer data platform that helps marketers with customer engagement across multiple platforms - simplifying a marketer’s task and enabling a better experience for the customer. Jain emphasized the importance of providing an omnichannel and personalized customer experience. Post-pandemic, there has been a tremendous growth in the digital landscape, which has brought about a big shift where the engagement with the customer is real-time, showing the right product to the right customers at the right time. The key driver for any marketer is to create customized experiences. Another major shift as per Jain is that along with new customer acquisition, companies have started focusing on building deeper relationships with existing customers because the "CAC on new customers has been rising rapidly." Speaking of the solutions that Jain's company is trying to build for marketers, especially merchandisers, Jain highlighted an <keyword id="19262577" type="General" weightage="20" keywordseo="ai-based-catalog" source="Orion">AI-based catalog</keyword> that can help in creating personalized experiences for their customers. He cited the example of UNBXD, which was acquired by Netcore Cloud and specializes in product discovery and catalog enrichment. Combining the enriched catalog data with customer data will be the "holy grail" for marketers. The key problem marketers face today is how to get their data together for the generative AI engines to work their magic, he added. Many companies still have data siloed in so many different places--offline and online--data across various martech platforms. Changing this could transform e-commerce and digital businesses in the future. Answering Barnes' query on data privacy and consent management, Jain said they just work on the data provided by their customers. He further added that marketers should move away from third-party data towards first-party and zero-party data. Giving incentives to marketers to provide their data, what he calls "atomic rewards" can bring a transformation in the data revolution as it will not only be the best and most authentic data, but also reduce concerns about privacy. Talking about recent trends, Jain mentioned that for martech companies, now is a good time to consider buying and merging with other companies. This approach also benefits marketers by reducing the need to handle many different solutions from different vendors, which saves them time and effort. Jain believes that in the future, more companies will combine because managing separate solutions is becoming expensive and challenging. Barnes and Jain concluded their discussion noting how India is now the leading SaaS factory in the world. Jain added that businesses need to figure out the optimal way to establish a profits monopoly since every industry has a finite pool of profits. The conversation between Barnes and Jain highlighted the sea-change that the marketing world is undergoing. With cloud expanding the possibilities of technology and delivering tools to enable deeper impact, martech providers are finding innovative ways to meet the evolving needs of marketers. The concept of acquiring and merging companies, as discussed by Jain, reflects a strategic shift that not only streamlines solutions but also maximizes efficiency for marketers, freeing up valuable time and resources. As the landscape continues to evolve, the emphasis on consolidation and seamless integration is likely to play a pivotal role in shaping the future of martech. The ongoing dialogue and collaboration between industry leaders like Barnes and Jain shed light on the path forward, where the fusion of cloud technology, strategic acquisitions, and a customer-centric approach will drive the next phase of transformative growth in the marketing sector. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

The golden age of marketing is here with MarTech 2.0

<ul><li><keyword id="4640220" type="PERSON" weightage="20" keywordseo="Boxx-ai">Boxx.ai</keyword>, an <keyword id="8303662" type="UNKNOWN" weightage="20" keywordseo="artificial-intelligence-startup">Artificial Intelligence startup</keyword> is acquired by <keyword id="767606" type="ORGANIZATION" weightage="20" keywordseo="NetCore-Solutions">Netcore Solutions</keyword>.</li><li>Netcore solutions is an omni-channel marketing platform, with clients like Standard Chartered, OLX, Magzter, Vodafone, Facebook, Thomas Cook, Pfizer etc. </li><li>The Boxx.ai team will be joining Netcore solutions. </li></ul>Boxx.ai, an <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">Artificial Intelligence</keyword> startup was acquired by a marketing plaform, Netcore Solutions. Founded by IIT alums Ajay Kashyap, Prakhar Raj and Shitiz Bansal, Boxx.ai uses AI and machine learning technology to help e-commerce sites convert users into buyers. Using its proprietary algorithm, the startup offers personalized shopping experience, which improves conversion rates. “E-commerce companies spend a lot of money to get visitors on their sites, but 98% of them leave without buying. Boxx.ai solves this – it converts visitors to buyers. Integrating this capability with Netcore’s multi-channel marketing platform makes a killer combination for brands,” said Ajay Kashyap, Founder, Boxx.ai. The Boxx.ai team will be joining Netcore Solutions, which is an omni-channel marketing platform based in Delhi. Netcore, a 22-year old company has clients like Standard Chartered, OLX, SeekAsia, Magzter, Vodafone, Facebook, Thomas Cook and Pfizer. In 2017, Boxx.ai received funding of $500,000 from Unicorn India Ventures and angel investors.

Boxx.ai - an AI startup for e-commerce is bought out by a marketing platform

The growth of the <keyword id="6375224" type="ORGANIZATION" weightage="40" keywordseo="higher-education">higher education</keyword> system in India has been relatively steady for a period of over 20 years, beginning from 1985-86. Recently, student enrolment has picked up speed, from an approximate 16 million in 2009-10 to well over 26 million today, and it is slated to hit 40 million by the year 2020. But the focus of the policy-makers during this period has largely been on issues of expansion, of access and equity, and relatively less so on excellence. Even back in 2007, <keyword id="222693" type="COMPANY" weightage="40" keywordseo="The-National">the National</keyword> Knowledge Commission described the situation in the higher education arena (undergraduate, postgraduate and vocational education after 12th grade, age group 18 years and above) as ‘a quiet crisis that runs deep.’ Fortunately, there is a ray of hope in the new National Higher Education Mission (2013) announced by the Ministry of Human Resource Development (MHRD) of the <keyword id="6377129" type="ORGANIZATION" weightage="40" keywordseo="Government-Of-India">Government of India</keyword>, also called the Rashtriya Uchchatam Shiksha Abhiyan or RUSA. 
 <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">Investments</keyword> in relevant quality education not just produce robust economic returns but also strengthen the democracy by creating an enlightened citizenry. The <keyword id="1862062" type="UNKNOWN" weightage="80" keywordseo="RUSA-mission">RUSA mission</keyword> will attempt to bring the focus back to where it ought to be – on the quality of higher education delivered at the educational institutions that are under the purview of the state governments. Mainstream English language media prefer to cover the institutions run by the central government – the top favourites being the IITs and IIMs, the central universities, IIITs, AIIMS and many others, to a lesser extent. And yet, these institutions account for just 2.6% of the student intake! So, what about the remaining 97%? 
 
The skew between the central government-run institutions and those controlled by the state governments is not just in the number of students enrolled. The quality of higher education imparted at the state government-run institutions is relatively inferior in almost every discipline. Figures regarding youth employability from TeamLease show that 57% of the young people suffer from some degree of unemployability and 53% of the employed youth suffer from some degree of skill deprivation. These are staggering figures that are already hurting the health of the nation. The private sector, which runs over 60% of the educational institutions but accounts for just 40% of the enrolment, has not lived up to expectations either, in terms of quality. 
 The state governments will point to the fact that the Central institutions have been heavily funded at the expense of all others, but the problem extends beyond that. The states have paid little attention to higher education, spending far too small a portion of their GSDP (Gross State Domestic Product) on it, just 0.5% on an average. A few states like Maharashtra spend as little as 0.14%! The RUSA mission of MHRD aims to correct this skew in <keyword id="6357455" type="EVENT" weightage="40" keywordseo="Funding">funding</keyword> by providing the states with block grants, against the state-wide perspective plans for spending and for the outcome prepared by the state higher education councils. The difficulty here is that some of the state higher education councils, Maharashtra for instance, are not active. So these states could end up wasting precious time in claiming their share of funds. Indeed, the sense of urgency for bringing about change appears to be missing, be it the MHRD or the state governments. 
 
The fragmentation of our higher education system necessitates a strong focus on scalable solutions. We have 690 universities/university-level institutions and nearly 37,000 colleges, educating approximately 26.6 million students. Compare this with China where just 4,000 universities and colleges cater to a similar number, 25.4 million students (as per 2010 data)! 
 
It is well known that addressing problems at scale requires a completely different approach – one needs to begin differently. The regulatory regime has also contributed in no small way to the erosion of quality and needs to be reworked. Governments need to focus on creating an enabling framework within which the management and the faculty can be empowered to innovate and deliver desired outcome. Complete autonomy to institutions, supported by an appropriate accountability regime, will help unleash the creativity and energy of the faculty and students. Fortunately, giving autonomy to colleges is a key goal of the RUSA mission. 
 
The management and regulation of education ought to be a space where there is active engagement of a large number of academics – teachers, educators, researchers, scientists and social scientists – all active practitioners in their respective fields. Expertise and experience are critical and decision-making bodies must be expanded and made more inclusive. They must also be made more accountable. The focus must shift from processes towards outcome. For instance, researchers, who by definition need to do things that have never been done before, ought not to find themselves constrained by cumbersome processes set up in the interests of preventing the misuse of funds. 
 
Also, many years of functioning in an extremely constrained environment has robbed the faculty of much of their capacity to take charge of quality education delivery. This problem will have to be taken head on and the capacity will have to be painstakingly rebuilt. Being expected to specify the outcome and working towards delivering the same are what the faculty must get used to doing. Governments and managements of institutions must correspondingly ensure that their working conditions are conducive. 
 Unfortunately, a large number of faculty members are employed on contract basis for years on end and they are paid poorly. Worse still, many are even hired on ‘clock-hour-basis’ and are paid paltry sums such as Rs 250 for a 50-minute lecture! Teaching has long ceased to be a profession of choice. The attractive salaries of the <keyword id="54272" type="ORGANIZATION" weightage="40" keywordseo="6th-pay-commission">6th Pay Commission</keyword> are available only to a small group of tenured faculty. Sadly, it is this group that is vocal in its opposition to autonomy. 
 
How well the RUSA mission is implemented will be a reflection of how diligently we discharge our collective responsibility to the future generations. As most reforms take a minimum of a decade to show results, many international experts have pointed out that India’s window of opportunity is already slipping away. It is entirely up to us to revive it. 
 Dr Leena Chandran-Wadia is a Senior Fellow at the Observer Research Foundation Mumbai. She received her PhD in Physics from IISc Bangalore and did her post-doctoral at ETH Zurich, <keyword id="103" type="COUNTRY" weightage="40" keywordseo="Switzerland">Switzerland</keyword>. She has been a researcher at several places in India and abroad including NCST Mumbai (now CDAC), EPFL and CERN in Switzerland, and IIT Bombay. Most recently, she has served as the Senior VP and CTO at Netcore Solutions Pvt Ltd, a start-up company in the space of mobile value-added services. At ORF, she is engaged in research and advocacy, primarily in the areas of Higher Education and Research, but also in Public Health, Sustainable Agriculture and Renewable Energy.

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The golden age of marketing is here with MarTech 2.0

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Boxx.ai - an AI startup for e-commerce is bought out by a marketing platform

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Indian Higher Education: Bringing the Spotlight Back on Excellence

DR LEENA CHANDRAN-WADIA

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