A decade ago, getting data was a critical task in every industry. Today, we see data flowing into the organization’s database from everywhere. Organizations can access massive amounts of data from sales, marketing, customer experience, finance, operations, human resources, and other departments. The requirement of today is how to use this data efficiently and effectively.
In the growing digital landscape, it’s a significant challenge to meet and cope with customer expectations, changing trends, use of technology, and expand the user base for digital applications. Many applications today fail to realize their full potential because they do not consider the complete end-user requirements during the design and development phase. It requires an exceptional effort to create and develop new technology accessible to all users.
In current times, no industry can survive without adopting relevant technologies, and the insurance industry is no exception. Technology plays a vital role in the insurance industry. Technology is redefining the way traditional insurance business is being done and driving smart reinvention of workflows. Technology is now part of all the stages of the insurance life cycle, right from the policy advice stage to claim settlement.
Like humans, Machine Learning (ML) models can recognize intricate patterns and anticipate the outcome of new data. On some natural language problems, ML models have even surpassed human performance. But much like people, ML models are susceptible to error. For every ML application in the real world, estimating how frequently a model will be inaccurate is essential. Intuitively presenting information and emphasizing the best ways to enhance a model are equally important.
As the name suggests, CBDC is the central bank-issued digital currency. It is an electronic form of sovereign currency that will appear as a liability on a central bank’s balance sheet just like physical currency. Instead of printing money, the central bank, backed by the central government, issues electronic coins or money. CBDCs are not meant to replace cash but to coexist as additional payment methods. CBDCs should be exchangeable at par with cash.
Information that can be seen has always been valuable. Whether it was in the distant past when early humans lived in caves or in the world of data today. Using visuals to support information simply makes it more accessible to its target audience. Today, pictograms and motion graphics are crucial for communicating information. Infographics make life easier and contribute to our knowledge of the world and the information we read.
It is a very well-known fact that if we have to identify sectors that are the most volatile and sensitive to even a small trigger in the social, economic, or political environment, the list will not be complete without the airline industry. Recessions, pandemics, regulations, and the like have hit the airlines like no other, and the industry is turning around slowly and gradually after a big, unprecedented shock.
