Finding applications of artificial intelligence in the automotive industry requires only a scant reading of news headlines. From IBM Watson’s partnership with the General Motors OnStar platform to Toyota’s $1 billion investment in AI-based self-driving technology, the marriage of AI with automotive technology has surely been consummated. It seems that every stakeholder in the automotive industry is looking for a way to capitalize on recent advances in AI technology.
Revolution is a term that tech writers seem to use a lot these days. Maybe too much. And, yet, it is difficult to describe the changes taking place in the insurance and reinsurance industry without using it. Current trends in insurance software development, stricter and more dynamic regulations, and changing customer expectations are, indeed, having a revolutionary impact on the age-old industry.
A revolution in procurement processes is quietly underway. For more than five years, electronic procurement, or e-procurement, has been a requirement for companies wanting to do business with the U.S. government. Recently, the EU has established a timeline for digitizing all phases of the procurement process within the EU. Even so, for stakeholders already in the game, and for new arrivals, trends in technology are rapidly reshaping how governments and businesses transact business with one another.
True to their history of leaving no financial sector unscathed, fintechs are disrupting the wealth management industry like a storm. With their hallmark technology-centric approach to market opportunities, fintechs are leveraging wealth management software to outpace incumbent investment firms. Unbridled by legacy systems and legacy ideas about how business is done, fintechs are offering customers lower fees and lower investment minimums than conventional providers, while leading the way in innovation.
Seldom does the entrepreneurial developer find so much low-hanging fruit as now seen in the fintech industry. With investors providing $5.3 billion in capital to fintech startups during Q1 2016, opportunities for the innovative developer are ripe for the picking. Especially interesting is the growth of investments in fintech — 67% since the same period last year. The rapid growth and infusion of investment cash equates to growth in fintech outsourcing opportunities in several areas of technology. Let’s take a look at seven of those now trending or likely to do so in the near future.
In today’s world of financial trading, nothing is bigger than big data, and for good reason. For an industry whose lifeblood is data, the ability to access and analyze huge and ever changing datasets represents nothing less than the new holy grail. Investment institutions are not just big on the idea of using big data to their advantage, they are investing heavily in the technology to make it happen.
Fintech startups are having a growing and disruptive impact on the financial service industry. The first quarter of 2016 realized global investments in fintech ventures of $5.3 billion — a 67% increase since Q1 2015. With the fintech wave on the rise, new startups emerge almost daily — many with a multi-million dollar idea and the investment dollars to make it happen. The first big decision startups often face is whether to develop their wares in-house, or to outsource the development of their products or services.