PoV on Latest technology Trends impact on Insurance Industry

Latest TechnologiesTrend & Applicability in Insurance Sector

PoV by Jishnu Mithre

AgendaContext-Aware Computing 3

Cloud Computing 4

Fabric-Based Computers 5

Quantum Computing 6

Ubiquitous Computing / IoT 7

In-Memory Computing 8

Senseye 9

Consumerization 10

Big Data Analytics 11

Social Media Analytics 12

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Real-Time Analytics 13

Voice Command Based Applications 14

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Augmented Reality 1513

Context-Aware Computing

Just by knowing where the user is, what activities or job functions he/she might perform, can increase the relevancy of an application and its content, or change the application's use itself.

A simple example for context aware app is Google’s Gmail: Say for example if we receive a mail, a report of a Auto-Expo, towards the right of the screen Google will push all advertisements related to automobile, latest news about other auto expo in other parts of world etc.

Future example: The app on smart phone dynamically shows the line lengths and a site map at amusement park all automatically sensing proximity to these locations

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A system is context-aware if it uses context to provide relevant information and/or services to the user, where relevancy depends on the user’s task.

A system with these capabilities can examine the computing environment and react to changes to the environment.

A context-aware software application adapts according to the location of use, the collection of nearby people, hosts, and accessible devices, as well as to changes to such things over time.

What it means?

Uses & Applicability

1. Business through Online gaining Momentum2. Decrease in Intermediary support 3. Tendency for Self Service 4. Demands Fulfillment – 24*7

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Cloud Computing

Allows organizations to activate and retire resources as needed, dynamically update infrastructure elements, and move workloads to improve efficiency without having to worry about creating new infrastructures for each new application.

Cost benefits of using a shared infrastructure rather than creating new platforms on an application-by-application basis.

A simple example of cloud computing is Yahoo email, Gmail, or Hotmail etc. You don’t need a software or a server to use them.

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Cloud computing is a technology that uses the internet and central remote servers to maintain data and applications.

Cloud computing allows consumers and businesses to use applications without installation and access their personal files at any computer with internet access. It renders efficient computing by centralizing storage, memory, processing and bandwidth.

What it means?



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Fabric-Based Computers

Fabric Based Computer is used to converge infrastructure.

A Converged infrastructure, packages multiple information technology components into a single, optimized computing solution.

Fabric Based Computer based Converged Infrastructure includes the vertical integration of server, storage, and network systems and components with element-level management software

It helps to optimize shared data center resources efficiently and dynamically.

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A fabric-based computer is a modular form of computing where a system is aggregated from separate building-block modules connected over a fabric or switched backplane, consisting of interconnected nodes that look like a 'weave' or a 'fabric' when viewed collectively from a distance, hence the name fabric computer.

In its basic form, a fabric-based computer comprises a separate processor, memory, input-output, and offload modules (eg: Graphic Processing Unit) that are connected to a switched interconnect and the software required to configure and manage the resulting system.

What it means?



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Quantum Computing

While a normal bit can have only one of two values: "1" or "0," qubits can hold both values at the same time. This is called superposition, which allows quantum computers to perform millions of calculations at once.

The potential areas of applicability are: Ultra-secure and Super-dense

Communications Molecular Simulations Generate True Randomness Slim Encryption Technology Searching of unstructured databases Solving previously unsolvable mathematical

problems6

A quantum computer is a device for computation that makes direct use of quantum mechanical phenomena, such as superposition and entanglement, to perform operations on data.

In a Nuclear Magnetic Resonance(NMR) type quantum computer, the atoms themselves are used as qubits for the system, and has a liquid CPU containing two ounces of chloroform.

In a quantum computer, a new type of technology is used, a technology that enables qubits to exist as coherent superposition of 0 and 1 states, but the best method to build it is still unknown.

What it means?



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Ubiquitous Computing / Ubicomp

The technology pillars enabling Ubicomp are Nanotechnology, Wireless Computing, Context-Aware Applications and Natural Interaction User Interfaces.

Natural interactions, say voice, gestures or even mood or even environment acts as inputs to the computer and makes the computer to supply services, resources, or information to the user without the user having to think about the rules of how to use the computer to get them.

User is not preoccupied with the dual tasks of using the computer and getting the services, resources, or information.

Thus applicability is infinite – everywhere. 7

Ubiquitous computing (abbreviated to “ubicomp”) refers to a new genre of computing in which the computer completely permeates the life of the user. We now call it: Internet of Things (IoT) !!

In ubiquitous computing, computers become an invisible force, assisting the user in meeting his or her needs without getting in the way.

In this new wave of computing , computers are invisibly embedded into the world around us and they proliferate everyday objects imparting them the ability to communicate with RFID(radio-frequency identification) tag.

What it means?



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In-Memory Computing

Besides delivering a new storage tier, the availability of large amounts of memory is driving new application models for In-memory computing.

Advantages: Improved transactional application performance and scalability, Lower latency application messaging, faster batch execution and faster response time in analytical applications.

In-memory applications platforms include In-memory analytics, Event processing platforms In-memory application servers In-memory data management In-memory messaging

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In-Memory Computing is the use of flash memory in consumer devices, entertainment equipment and other embedded IT systems.

It offers a new layer of the memory hierarchy in servers that has key advantages — space, heat, performance and ruggedness .

As cost and availability of memory intensive hardware platforms reach tipping points in 2012 and 2013, the in-memory approach will enter the mainstream.

What it means?



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Senseye

Senseye is still a prototype and not a commercialized technology.

Some of the functions that can be controlled with the help of this technology include ;

activating screens playing games scrolling websites and almost any simple interaction with that

can be done via mouse or touch screen.

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Senseye technology allow users to control their devices with the help of their eyes. It tracks the eyes of a user with the help of the front-facing cameras, which are usually installed in a smart

phone. Senseye is based on a ITU Gaze Tracker project - an open source eye-tracking solution intended for people with

disabilities, particularly those who cannot work using regular interfaces. Senseye is known as Copenhagen Project, since its launch at Mobile Startup Weekend Copenhagen in June 2011.

What it means?



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Consumerization

The primary impact of consumerization is that it is forcing businesses, especially large enterprises, to rethink the way they procure and manage IT equipment and services.

Equally importantly, large enterprises have become increasingly dependent upon consumerized services such as search, mapping, and social media.

The capabilities of firms such as Google, Facebook, and Twitter are now essential components of many firm’s marketing strategies.

It will make advertising-based services to spread into major corporate applications such as email, Customer Relationship Management (CRM), and Intranets.

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Consumerization is more of an approach than a technology as such. But it is going to rule IT innovations in the years to come.

Consumerization is a term used to describe the growing tendency for new information technology to emerge first in the consumer market and then spread into business and government organizations.

The emergence of consumer markets as the primary driver of information technology innovation is seen as a major IT industry shift and it will rule the years ahead.

What it means?

Impact & Applicability


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Big Data Analytics

Big Data analytics has the following advantages over the traditional data warehousing processes :

The ability to converge data from multiple data sources, both structured and unstructured.

Quick time to information in extracting value from data sources that include mobile devices, RFID, the web and a growing list of automated sensory technologies.

Scalability. Improved decision-making. Ever-narrower segmentation of customers.

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Applicability & Advantages


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The Analytics of Big Data is called Big Data Analytics. Big data consists of datasets that grow so large that they become awkward to work with using on-hand database

management tools. Difficulties include capture, storage, search, sharing, analytics, and visualizing. Big data spans three dimensions: Volume, Velocity and Variety.

Volume – Big data comes in one size - Large. Velocity – Big data is time-sensitive and must be used as it is streaming in, to maximize its value. Variety – Includes unstructured data of all varieties: text, audio, video, click streams, log files and more.

What it means?

Social Media Analytics

Social media analysis tools are useful for examining social structure and interdependencies as well as the work patterns of individuals, groups or organizations.

Social media analysis enables marketers to directly measure their social media efforts, and understand how conversations on social networks and online communities influence marketing performance.

Since social media plays huge role in communicating to customers and branding , Social media analytics will become a n inevitable tool for all organizations for building strategies, market penetration, market, trend analysis, fraud detection and etc.

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Social Media Analytics is the latest trend and effective technique used in modern day social analytics. Social analytics describes the process of measuring, analyzing and interpreting the results of interactions and

associations among people, topics and ideas. Social network/media analysis involves collecting data from multiple sources, identifying relationships, and

evaluating the impact, quality or effectiveness of a relationship.

What it means?



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Real-Time Analytics

Precisive and powerful market research tool. Real-time analytics can provide up-to-the-minute

information about an enterprise's customers and their behavior, thus enabling quicker business decisions.

Support instant refreshes to corporate dashboards to reflect business changes throughout the day.

Real-time analytics supports unpredictable, ad hoc queries against large data sets.

In scientific analysis such as the tracking of a hurricane's path, intensity, and wind field, with the intent of predicting these parameters hours or days in advance.

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Real-time analytics is the use of, or the capacity to use, all available enterprise data and resources when they are needed.

It consists of dynamic analysis and reporting, based on data entered into a system less than one minute before the actual time of use.

It is also known as real-time data analytics, real-time data integration, and real-time intelligence.

What it means?



Technologies that support real-time analytics: In-database analytics. Data warehouse appliances. In-memory analytics. Massively parallel programming (MPP) - the

coordinated processing of a program by multiple processors that work on different parts of the program, with each processor using its own operating system and memory.

Processing in memory (PIM) - a chip architecture in which the processor is integrated into a memory chip to reduce latency.

Tech Factor

Voice Command Based Applications

The application using a natural language user interface can be used to:

Answer questions. Make recommendations. Perform actions by delegating requests to a

set of web services. Adapt to the user's individual preferences

over time. Perform tasks such as finding

recommendations for nearby restaurants, or getting directions.

Perform all usual tasks that can be done using common UI in conventional apps.

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Development of voice command based application can be traced to its predecessor – Speech recognition software. Speech Recognition is the older technology that can translate spoken words into text. These systems analyze the person's specific voice and use it to fine tune the recognition of that person's speech, resulting in more accurate transcription.

Voice command based application enables us to control your computer/mobile by just speaking to it. Ex: Apple’s Siri, Nuance Voice Control 2.0 , Voice2Go etc

What it means?



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Augmented Reality

Navigation - Enhanced GPS systems are using augmented reality to make it easier.

Sightseeing – Can augment a live view of displays in a museum with facts and figures related to it.

Military – With a Heads-Up Display the pilot doesn't have to look down at the aircraft's instrumentation to get the data they need.

Medical - Augmented reality can reduce the risk of an operation by giving the surgeon improved sensory perception. This technology can be combined with MRI or X-ray systems and bring everything into a single view for the surgeon.

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An augmented reality system generates a composite view for the user that is the combination of the real scene viewed by the user and a virtual scene generated by the computer that augments the scene with additional information.

The virtual scene generated by the computer is designed to enhance the user's sensory perception of the virtual world they are seeing or interacting with.

The goal of Augmented Reality is to create a system in which the user cannot tell the difference between the real world and the virtual augmentation of it.

What it means?



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