The value of global blockchain transactions is set to reach an unprecedented $3.4trn by 2023 as financial institutions increasingly look to the technology to improve their bottom lines.
Insurance companies will have to offer personalised policies delivered in real-time if they are to thrive in a ‘post digital’ era, consultancy firm Accenture has warned.
Investment in intelligent automation (IA) technology has failed to deliver fast enough returns, with many projects still stuck in “pilot mode”.
Investment in financial technology ventures more than doubled across the world last year, with the UK and US both enjoying record levels of fundraising.
Artificial intelligence (AI) is projected to have a “highly disruptive” impact on insurance claims management worldwide, resulting in a more than four-fold increase in cost savings.
Financial services companies are looking to digital transformation at a greater rate than most vertical market businesses, and are facing an “acute shortage” of skills as a consequence.
Cyber attacks could cost businesses as much as $5.2trn (£4trn) in additional costs and lost revenue over the next five years.
Blockchain and cryptocurrency developers benefited from record levels of investment in the UK last year.
More than $1.3bn (£1bn) was invested in insurance technology firms in the third quarter of this year, double the amount recorded in the previous three months.
The number of patients turning to artificial intelligence (AI) for their healthcare is set to explode over the next five years, saving hospitals billions of dollars in the process.
© 2019 Redactive. All rights reserved