The proportion of aging population who need more personalized care and round-the-clock treatment is increasing, propelling the need for more human resources in hospitals. Healthcare, along with technology, will give the industry and care providers the ability to simplify processes and offer personalized care with greater efficiency. Using technology driven solutions to replace labor-intensive tasks that are better done by machines can be a big time-saver.
AI allows smartphones to perform highly sophisticated functions such as augmented reality (remember Pokémon Go), speech recognition, indoor navigation, and even learning the daily tasks and preferences of an individual to enable digital assistants like Siri and Alexa.Customer service chatbots, like CenturyLink’s ‘sales assistant’, speech and voice services for customers where they can explore or buy content by speaking, traffic classification, network optimization and orchestration, and predictive network maintenance, like AT&T’s self-healing and self-learning hardware that’s powered by artificial intelligence are among some AI applications that are used by the leading players and are among the emerging trends in the telecommunication sector.
Market knowledge, as well as control of data and information, is key to obtaining a competitive advantage in the retail sector. Markets are continuing to grow and become more complex; the simple process of retailing has started to deploy more advanced retail information systems to cope with all the transactions involved. Today, retailers need to transform their IT capabilities for multiple reasons, including: To increase the company’s ability to respond to the evolving marketplace through enhanced speed and flexibility. To collect and analyze customer data while enhancing differentiation.
Technology will once again be the differentiator for insurers who embrace technology to enhance customer experience while selling a commoditised insurance product. Technology can also be further used to penetrate emerging markets. For instance, with the increasing penetration of mobile users in developing countries, a telecommunications company acting as an agent to sell insurance products will soon become reality. New partnerships will be formed.