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SP JAIN GLOBAL BLOGS

Welcome to SP Jain Global Blogs – where the heart of our community comes alive through inspiring stories, industry insights, and first-hand experiences. From expert perspectives to real-life journeys, this is your space to explore, connect, and feel at home in a world of ideas and inspiration.

Facial expression analysis: Dr. Nicolas Hamelin talks about emotions & advertising effectiveness

Total advertising spending in the US is on an ever-increasing curve. In 2014 American businesses spent over B$180.12 (Emarketer, 2015). Globally in 2015 over B$540 billion was spent on advertising, a 4.6% increase over 2014 (Adage, 2015) with the general public being exposed to an increasing number of the ad. In 1985 the urban American would see around 2,000 ads per day with this number shooting up to 5,000 ads per day in 2016 (NY Times, 2015). Yet out of a sample of 350 ads watched per day only 153 ads would receive attention for more than a few seconds (SJ insight, 2014). Measuring advertising effectiveness has always been the greatest challenge of marketing and advertising professionals. There are two main methods for measuring advertising effectiveness: One focuses on measuring indicative marketing metrics such as awareness, preference, customer satisfaction, loyalty, and the other focuses on measurement of tangible marketing metrics such as sales, market share, profits, return on investment, cash flow, firm value. The complexity of measuring advertising effectiveness increases if the variable “emotion” is introduced. An emotional message in advertisements increases the audience attention toward the ad and product, boost product attractiveness, and generates a higher level of brand recall and various research have found that that emotion is a predictor of advertising effectiveness. There are various methods to evaluate emotion in advertising research. The emotional response can either be measured using self-report or autonomic measure. The visual self-report requires the respondent to choose a cartoon character matching his or her emotional state, while in verbal self-report respondents answer an open-ended question or rate their emotional state on a Likert-type scale. Self-reports usually capture the conscious state of the individual while the autonomic capture the body’s reactions. Body’s reactions such as heart rate fluctuation, or variation in skin acidity are most of the time beyond the conscious control of the individual while self-report or surveys suffer from heavy bias, for example, the Theory of Social Desirability posit that interviewees will tend to avoid socially unacceptable responses or will tend to provide answers which he or she perceives to be matching the value system of the interviewer. SPJAIN Neuroscience lab uses noninvasive facial recognition software to investigate the potential link between emotion and advertising effectiveness. Facial muscle involved in expressions are linked to the cerebral cortex through the corticobulbar track and reflect the activation of the brain’s amygdala region which is responsible for all potential value of all facial expression. In this research we uses GFK-EMO Scan, facial recognition software developed by Munich based Franhofer institute. GFK-EMO can record over 20 frames per second enabling an accurate measure of real-time emotional responses. Two safe driving ads from the UK were shown to a group of 60 participants and their emotional reaction were recorded. Both ads convey the same message about the danger of speed and road safety. While one ad used a highly affective message strategy, the other ad relies mostly on rational strategy. The high emotional video presents a dramatic car accident with casualties, and convey a high level of negative emotions including grief, fear, and shock. The low emotional ad delivers scientific facts about the danger of speed. Right after watching the ads and two weeks after watching the ads the students were requested to answer a survey adapted from the National Survey of Speeding Attitudes and Behavior (NSSAB).

Topics: SP Jain School of Global Management, Thought Leadership, Research & Case Studies, Disruptive Technologies

Few Golden Rules for safe Digital Transactions

With demonetization and the predominant shift towards digital transactions, people are likely to be FORCED to move online for many e-transactions. According to RBI, the percentage of Internet Banking transactions in banks rose from 75% in 2014-15 to over 85% in 2015-16. An article in the Times of India dated 16th January 2016 states that India is ready for a 4-time jump in digital payments. With the economy moving to cashless, people are increasingly exploring payment alternatives such as UPI, e-wallets, and USSD based mobile banking through different platforms, which are directly or indirectly linked to the user’s bank account.

Topics: SP Jain School of Global Management, Thought Leadership, Disruptive Technologies

How far has Virtual Reality come? Where do we see it going in 2017?

The stage is set for the International Consumer Electronics Show (CES) at Las Vegas, the world’s gathering place for all who thrive on the business of consumer technologies, from January 5th to January 8th, 2017. Virtual Reality (VR) is going to be a prominent show stopper and attraction for individuals, corporates, consumers, and developers. In VR, it is the show floor where the business is done. The ‘virtual’ developments can only be realised when the real thing is shown and projected in the respective head mounted devices, 360 degree domes and screens. At such places, people gather to find the new leap in the VR hardware and software capabilities.

Topics: Virtual Reality, SP Jain School of Global Management, Thought Leadership, Disruptive Technologies

Chatbots are one of the hottest trends in the world of Artificial Intelligence. Are bots the new apps?

One of the hottest current trends in the world of Artificial Intelligence and Machine Learning is “chatbots”. These are software entities that can carry on a conversation with a human, using voice or text. An article published in The Economist last April suggests that a marketplace for bots may soon overtake app stores as the fastest growing software segment.

Topics: Thought Leadership, Disruptive Technologies

The 3-year itch: why up-skilling has to happen every 3 years with the onus of skilling on the employee

In the last few years, there has been an exponential growth in computing power, portability, mobility, intelligence, and emergence of new mediums through a virtual and augmented reality. The so called Fourth Industrial Revolution has been transforming business and economies at a rapid pace, as the traditional technology and related business models are fast becoming extinct. The primary driving forces have been the benefits of technology in bringing efficiency and a scalable role of business technology allowing companies to outsource business function to efficient and more productive business environments.

Topics: Careers, SP Jain School of Global Management, Disruptive Technologies

Why is Virtual Reality hot for Venture Capitalists?

Why are Venture Capitalists (VC) bullish and heavily investing in Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) technologies? We can easily wind-up discussing this with just one case: we have all ‘heard’ of the Magic Leap that raised a staggering amount nearing $1.4 billion from some of the world’s biggest companies and well known venture firms. What is this technology? Why is its product in beta nowhere to be seen? The Wired Magazine called them ‘The World’s Most Secretive Start-Up’ in ‘The Untold Story of Magic Leap’. We can hardly guess the valuation of the company which is still doing R&D for their first product, launch of which, as some critics claim, is nowhere near. But the valuation is leading to a staggering $4.5 billion at the least.

Topics: Virtual Reality, SP Jain School of Global Management, Thought Leadership, Disruptive Technologies

Siri, Alexa, and Cortana – The rapid development of Machine Learning

We spoke to Dr. Debashis Guha, Director of Machine Learning Program about recent industry trends. Here are some excerpts of Machine Learning from the interview –

Topics: Thought Leadership, Disruptive Technologies

Innovation is no longer the prive of Silicon Valley

Innovation is no longer the prive of Silicon Valley. Indian industry is the cynosure of all eyes when it comes to innovation.

Topics: SP Jain School of Global Management, Thought Leadership, Disruptive Technologies

What Will You Do When Robots & Watson Take Your Job? Design the Future and Redesign You

 

I just watched the YouTube video “Humans Need Not Apply.” After the initial let-down (boy do I feel useless – and apparently I soon will be), I had to stop & think. If 45% of human jobs will be replaced by bots (physical and virtual), and if that will happen in our lifetime — much more quickly than farm work was mechanized and craftsmen were replaced by factories — what should each of us do?

Topics: Faculty, SP Jain School of Global Management, Thought Leadership, Disruptive Technologies