From Paper to Pixels: The Digital Transformation of Insurance in 2024
Insurtech—once a niche buzzword—has become a driving force in one of the world’s oldest industries: insurance. But what does this …
Technology has the ability to alter and reimagine how we do business in an increasingly connected world. As we look ahead and prepare for a post-pandemic future, we’re hopeful that the latest technological advancements can help us handle some of our most pressing business concerns — and create a more balanced and resilient society.
Here are some of the top tech trends that you cannot ignore this year, as we hope these will reshape our future.
Quantum Computing
Quantum computing has the potential to optimize complex processes in the near future. While quantum computers are still at least a decade away from becoming broadly used, we see emerging technologies that apply quantum principles and have the potential to make a significant difference in businesses that demand a lot of computational power.
One instance is in the area of optimization issues, which are typically difficult to solve using conventional techniques. Quantum mechanics principles are being used to reinvent and accelerate current optimization methods. Since they require flexible and scalable processing capacity, financial services, biotech, and pharmaceutical industries could profit the most from quantum computing.
Generative AI
Generative AI is an AI technique that uses data to learn a representation of objects and then use that representation to create brand-new, truly original artifacts while maintaining similarity to the original data.
Both technology commercialization and scientific discovery will accelerate in the field of generative AI. While this is as futuristic as it gets right now, we’ve already seen success in a variety of applications, ranging from the development of novel materials to the protection of data privacy. However, some businesses may be slowed by safety concerns and undesirable uses of generative AI, such as deep fakes.
Industry Clouds
Industry clouds are cloud and data platforms that are tailored to the specific requirements of specific industries. With standardization and pre-configuration, industry clouds will certainly support the cloud-everywhere modernization trend, allowing businesses to digitally transform. With coordinated cloud environments, your organization can be more agile with reduced complexity. It can also have a favorable impact on the cost and speed of IT advancements, as innovation and maintenance are built into the platforms automatically.
Graph Technologies
Relational databases aren’t well-suited to analyzing relationship data since it demands a significant volume of large datasets, storage, and analysis. Due to the vast range of potential uses for graph technologies, early majority adoption will take three to six years. A large number of these technologies will be supplied as integrated components of current data platforms, either built in-house or through resale agreements with specialist vendors.
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