Flip through the latest issue of Gulf Weekly.
A VARIETY of technologies – including artificial intelligence (AI), machine learning, ‘the internet of things’, predictive analytics and virtual reality – are being introduced to address challenges related to cybersecurity, IT infrastructure flexibility, payment collection and risk mitigation, among other areas.
Emerging technology companies are debuting their services around the globe as the world of FinTech comes up with innovating solutions to many of the challenges the sector now faces or will do in the near future.
David Treat, a managing director in Accenture’s Financial Services practice and co-head of the US Fintech Innovation Lab New York, said: “Rapidly maturing technologies including AI, cloud, machine learning, predictive analytics and the internet of things are enabling banks and insurance companies to accelerate their digital journeys.”
Some of the bright sparks have recently showcased their ideas at a special Demo Day at the Bank of America Tower. They include:
Alpha Vertex – develops analytical solutions to improve how investors predict and plan for the future. Its advanced AI automates the forecasting of asset returns.
Diffeo – whose AI-powered research assistant connects everyday tools – including the web, email, shared drives and enterprise data portals – to uncover relationships across vast amounts of disparate data and present valuable insights.
Habit – uses real time consumer data – sourced from smartphone and other devices – to create behavioural profiles that enable insurance companies to improve risk models and offer better products and services.
StrongArm Tech – uses wearable IoT sensors and AI-driven cloud computing to collect, analyse, predict and deliver actionable insights on how to mitigate the risk of injury for the industrial workforce.
Virtualitics – provides advanced data analytics software that merges AI with virtual reality, where the AI finds the insights in data and the visualisation of those insights provided by VR expands the ability to make smart decisions based on data.
