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ujwala-hole11 · 8 days ago

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Telehealth Market Insights Investment Opportunities in the Expanding Digital Health Industry

The telehealth market has experienced exponential growth in recent years, fueled by advancements in technology, the global need for accessible healthcare, and changing regulatory policies. The COVID-19 pandemic accelerated the adoption of telemedicine, and now, the industry continues to expand as digital health solutions evolve. With a projected market value exceeding $300 billion by 2030, telehealth is revolutionizing healthcare delivery worldwide.

1. Increased Adoption of Remote Patient Monitoring (RPM)

Remote Patient Monitoring (RPM) has become a vital component of telehealth, allowing patients to track their health metrics from home. Devices such as blood pressure monitors, glucose sensors, and heart rate trackers help doctors provide real-time care. This trend is particularly significant for managing chronic diseases like diabetes, hypertension, and respiratory conditions.

2. AI and Big Data in Telehealth

Artificial Intelligence (AI) and Big Data analytics are driving telehealth innovation. AI-powered tools assist in early disease detection, automate medical imaging analysis, and enhance patient interactions through chatbots and virtual assistants. Big Data enables healthcare providers to analyze patient records, predict outbreaks, and optimize treatment plans for personalized care.

3. Wearable Technology Enhancing Virtual Care

Wearable devices are becoming an integral part of telehealth, with smartwatches, fitness trackers, and biosensors providing continuous health monitoring. Brands like Apple, Fitbit, and Garmin have integrated advanced features such as ECG monitoring, sleep tracking, and oxygen level detection, making remote healthcare more efficient and data-driven.

4. 5G Connectivity Powering Telemedicine

The rollout of 5G networks is significantly improving telehealth services by enabling high-speed, low-latency connections. This technology enhances video consultations, supports real-time data transfer, and facilitates remote robotic surgeries. 5G connectivity is particularly beneficial for rural and underserved areas, where healthcare access has been historically limited.

5. Growth of Virtual Mental Health Services

Mental health support has become a critical focus area in telehealth. Online therapy platforms, AI-driven mental health apps, and virtual counseling sessions are making mental healthcare more accessible. With increasing awareness and demand, virtual therapy is becoming a preferred solution for managing stress, anxiety, and depression.

6. Regulatory Shifts Supporting Digital Healthcare

Governments worldwide are introducing new policies to support telehealth expansion. In the U.S., Medicare and private insurers have expanded reimbursement for telemedicine services. Similarly, countries like China, India, and the UK are implementing digital health policies to encourage telemedicine adoption and integration into traditional healthcare systems.

7. Blockchain Technology for Secure Telehealth Solutions

Cybersecurity remains a major concern in telehealth, with sensitive patient data at risk. Blockchain technology is emerging as a solution to enhance security, ensuring encrypted, tamper-proof, and decentralized health data storage. Secure patient data sharing through blockchain minimizes fraud and protects privacy.

8. Emerging Markets Driving Telehealth Expansion

Developing regions in Asia, Africa, and Latin America are embracing telehealth as a cost-effective solution to healthcare challenges. With increased smartphone usage and internet access, telemedicine is bridging gaps in healthcare infrastructure, enabling remote diagnosis, prescription services, and digital consultations.

9. Challenges in Telehealth Implementation

Despite its rapid growth, the telehealth industry faces several challenges, including digital literacy gaps, regulatory inconsistencies, and technology accessibility. Additionally, resistance from healthcare providers and patients who prefer in-person visits remains an obstacle. Overcoming these barriers is essential for the long-term success of telehealth.

10. Future Outlook and Investment Opportunities

Telehealth is expected to see significant advancements, including AI-driven diagnostics, virtual reality-based treatments, and enhanced home healthcare solutions. Investors are increasingly funding telehealth startups, and companies focusing on AI-powered healthcare analytics, digital therapeutics, and telemedicine platforms are attracting major capital inflows.

Conclusion

Telehealth is redefining the healthcare landscape by making medical services more accessible, efficient, and data-driven. With continued advancements in AI, wearable technology, 5G, and cybersecurity solutions, the telehealth industry is poised for sustained growth. While challenges persist, the future of telehealth looks promising, offering vast opportunities for healthcare providers, investors, and patients worldwide.Telehealth Market Insights: Investment Opportunities in the Expanding Digital Health Industry

#Telehealth Market #Telehealth Market trends #Telehealth #Telehealth services #Telehealth communication #Telehealth treatment services #Telehealth Market innovations

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hitchzone24 · 11 days ago

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RuPay Credit Cards vs. Visa and MasterCard – Understanding the Differences

With regards to credit cards, RuPay, Visa, and MasterCard are three major players in the market. While they serve the same basic function, there are distinct differences between them. Below we have broken them down to help you understand the key distinctions.

1. Origin and Ownership

RuPay: Introduced by the National Payments Corporation of India (NPCI) in 2012, RuPay is India’s own domestic payment network. It was developed to promote financial inclusion and reduce dependence on international card networks.

Visa and MasterCard: Both Visa and MasterCard are global payment networks originating from the United States. Visa was founded in 1958, and MasterCard followed in 1966. These networks are widely accepted across the globe and play a major role in facilitating international transactions.

2. Reach and Acceptance

RuPay: RuPay cards are primarily accepted within India, though NPCI has been expanding its international presence. These cards are commonly issued by public sector banks and are widely used for domestic transactions.

Visa and MasterCard: Visa and MasterCard have a vast international network, with acceptance in over 200 countries. They are ideal for frequent travelers or those who make international purchases, as they are accepted almost universally.

3. Transaction Costs and Fees

RuPay: One of the significant advantages of RuPay is its lower transaction cost. Since it is a domestic network, the processing fees are minimal compared to international networks. This makes RuPay cards more affordable.

Visa and MasterCard: As they are international networks, Visa and MasterCard generally incur higher transaction fees. This is particularly the case for cross-border transactions. These fees are often passed on to the cardholder in the form of foreign transaction charges.

4. Security Features

RuPay: RuPay cards offer secure transactions with features like Personal Identification Number (PIN) authentication for every transaction. The card details remain within India, meaning that the data is shared between national gateways only. This, an extra layer of security is added for domestic users.

Visa and MasterCard: Both of these provide advanced security features, including multi-factor authentication and fraud detection systems. They offer Zero Liability Protection and safeguard cardholders against unauthorized transactions globally.

5. Benefits and Rewards

RuPay: These offer benefits like cashback, discounts on utility payments, and other rewards.

Visa and MasterCard: Both of them come with a wide range of benefits. Examples include global rewards programs, travel insurance, and access to exclusive international offers. The reward structure here is more extensive and diverse compared to RuPay.

Which One’s Right for You?

RuPay is an excellent choice for those who primarily conduct their transactions within India. Additionally, they offer lower costs and enhanced security. On the flip side, Visa and MasterCard are ideal for international travelers and those after a broader range of benefits and global acceptance.

Your choice between these cards should align with your spending habits, travel needs, and financial priorities.

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rohitpalan · 28 days ago

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Behavioral Biometrics Market to Surge to USD 13 Billion by 2033 with a 23.8% CAGR, Reports Future Market Insights

The behavioural biometrics market is projected to generate revenues of US$ 1,254.7 million in 2022 and US$ 1,533.2 million in 2023, according to Future Industry Insights (FMI). With a CAGR of 23.8% from 2023 to 2033, the worldwide market is anticipated to be worth US$ 13,001.4 million by that year.

As the behavioural biometrics business expands, the leaders in the sector will face more competition. In 2022, the top five suppliers will hold a 55.0% share of the market, according to FMI.

Behavioural biometrics solutions have opportunities to grow as a result of ongoing development and the implementation of new technologies/software, including advanced behavioural biometrics innovations, human behavioural patterns, and machine learning/deep learning for identity identification and validation, preventing fraud, and multiple-factor authorization applications.

Behavioral?biometrics are being used in a variety of businesses with a digital presence and are positioned to play an important role in increasing digital trust and safety. For financial institutions, digital banking is one of the most successful platforms for driving growth, attracting new clients, and increasing income.

Behavioral?biometrics has a number of applications in the banking industry, including account opening safeguards, account takeover security, and social engineering fraud detection, among others. The dependability of behavioral biometrics and?biometrics technologies will drive their use in the BFSI industry.

Key Takeaways

South Asia is expected to develop rapidly in the market, with a CAGR of over 35% from 2023 to 2033.

According to Future Market Insight, the top 15 firms presently account for about 55%-60% of the market share in 2023.

Demand for banking, financial services, and insurance (BFSI) is expected to rise at a 28% CAGR throughout the projection period.

The market increased at a CAGR of 21.7% over the previous five years

According to the analysis, the United States will account for roughly 18.5% of the North American market by 2033.

“The expansion of real-time transaction and mobile banking systems in the country has increased fraud,?fueling?the demand for?behavioral?biometrics. Furthermore, financial solution suppliers in the South Asia & Pacific area are working on providing their clients with safe verification solutions based on sophisticated?behavioral?biometrics technology,” says the FMI analyst.

Competitive Landscape

BioCatch, a worldwide leader in?behavioral?biometric intelligence and sophisticated fraud prevention technologies, opened its Australian headquarters on February 8, 2023. Furthermore, the corporation reinforces its worldwide leadership position by establishing operations throughout Asia-Pacific, with branches in Australia and Singapore.

According to a report released in?May 2023, Amsterdam-based ThreatFabric obtained €11.5 million (roughly US$12.55 million) in an initial fundraising round, with aspirations to broaden its?behavioral?biometrics and safeguard?against fraud capabilities.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Behavioral Biometrics market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights by Solution (Software, Services), Application (Identity Verification & Validation, Fraud Prevention, Multi-factor Authentication), Enterprise Size (SMEs, Large enterprises), Industry (BFSI, Retail and eCommerce, Healthcare, IT & Telecom, Government and Defense) & Region.

Behavioral Biometrics Market Outlook by Category

By Solution:

Behavioral Biometrics Software

Cloud-Based

On-Premise

Services

Consulting Services

Implementation Services

Support & Maintenance

Managed Services

By Application:

Identity Verification & Validation

Fraud Prevention

Multi-factor Authentication

Others

By Enterprise Size:

Small and Medium-sized Enterprises (SMEs)

Large Enterprises

By Industry:

Banking, Financial Services, and Insurance (BFSI)

Retail and E-commerce

Healthcare

IT & Telecom

Government and Defense

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia

Oceania

Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Future Market Insights Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, USA T: +1-347-918-3531 For Sales Enquiries: [email protected] Website: https://www.futuremarketinsights.com LinkedIn| Twitter| Blogs | YouTube

#Behavioral Biometrics Market

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lovelypol · 1 month ago

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"Detecting the Undetectable: The Insurance Fraud Detection Market 2025–2033 🌟"

Insurance Fraud Detection Market is at the forefront of safeguarding the insurance industry against fraudulent activities. By leveraging advanced analytics, artificial intelligence (AI), and machine learning (ML), this market plays a pivotal role in identifying, preventing, and mitigating fraud. It not only helps insurers reduce financial losses but also enhances operational efficiency, compliance, and customer trust.

To Request Sample Report : https://www.globalinsightservices.com/request-sample/?id=GIS32362 &utm_source=SnehaPatil&utm_medium=Article

In recent years, the sector has experienced robust growth, driven by the increasing adoption of AI and ML-powered solutions. Among its segments, software dominates with a 45% market share, offering real-time fraud detection and predictive analytics. Services hold a 35% share, fueled by demand for expert consultation and implementation assistance, while hardware solutions account for the remaining 20%.

Geographically, North America leads the market due to its mature insurance sector and high prevalence of fraudulent claims. Europe follows closely, propelled by stringent regulatory frameworks like GDPR and the need for operational efficiency. Within these regions, the United States and Germany are key players, benefiting from technological innovation and substantial investments in fraud prevention.

The market’s segmentation spans a wide range of solutions, from rule-based systems to predictive analytics, and applications including claims fraud detection, identity theft prevention, and payment fraud analysis. Deployment models include on-premise, cloud-based, and hybrid solutions, catering to diverse operational needs.

Major players like IBM, SAS Institute, and FICO drive competitive dynamics through technological advancements and strategic partnerships. Future growth, projected at a 15% CAGR, will be fueled by blockchain integration, rising fraud cases, and increased investment in research and development. Despite challenges such as regulatory complexity and high implementation costs, the outlook remains optimistic, with emerging technologies unlocking new opportunities.

#InsuranceFraud #FraudDetection #AIinInsurance #DigitalTransformation #PredictiveAnalytics #CyberSecurity #BigData #FraudPrevention #InsuranceTech #MachineLearning #Blockchain #CloudSolutions #FinancialSafety #InsurTechInnovation #DataDrivenDecisions

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technologynewsupdatess · 2 months ago

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Artificial Intelligence (AI) in Insurance Market Growth, Size, Share, Trends by 2031

AI is revolutionizing most industries, and the insurance industry is no exception. Such technologies of AI have started transforming insurers in the domain of operation, interaction with customers, and risk management. This blog post communicates how AI is changing the insurance market, and what are the critical trends, benefits, and challenges lying within.

Artificial intelligence (AI) in the insurance market is estimated to hold a CAGR of 32.7% during 2023–2031.

Key Trends in AI-Driven Insurance

Chatbots and Virtual Assistants- AI-based chatbots and virtual assistants are set to become the new normal in the insurance landscape. On the one hand, this would make real-time customer service simpler for customers by answering all their queries and even helping them deal with claims. This will likely increase customer satisfaction while reducing operational costs.

Risk Assessment and Pricing: The algorithms go through the risk much more accurately by processing vast data. More personal and fair pricing models will be found by insurers, considering factors such as driving behavior, health records, and property characteristics.

Fraud Detection: This form of artificial intelligence can detect fraudulent claims since it can identify patterns and anomalies in the insurance data. Machine learning can analyze claims information for comparison with past data, marking suspicious activities, hence reducing the financial losses incurred by the insurer.

Claims Processing Automation: AI can process claims by eliminating all paper handling and enhancing verification and damage assessment processes. This reduces the processing time, increases the accuracy of events, and enhances customer satisfaction.

Predictive Analytics: AI-based predictive analytics enables insurers to foresee what might occur in the future. Analyzing historical information and stating trends enables the insurer to anticipate the risk in advance and take proactive measures or modify underwriting decisions.

Segments Covered

By Component

Software

Service

By Technology

Machine Learning and Deep Learning

Natural Language Processing [NLP]

Machine Vision

Robotic Automation

By Deployment

Cloud On-Premise

By Application

Claims Management

Risk Management and Compliance

Chatbots

By Region

North America

Europe

Asia-Pacific

South and Central America

Middle East and Africa

Key Players

Amazon Web Services, Inc.

Avaamo

Cape Analytics, LLC

IBM Corp

Microsoft Corp

Shift Technology

Wipro Limited

Avenga International GmbH

SAS Institute Inc.

OpenText Corporation

Benefits of AI in Insurance

Better Customer Experience: AI-powered tools can offer personalized customer service, quick claims settlement, and more efficient communication. This creates a high degree of customer satisfaction and loyalty.

Better Risk Assessment: AI algorithms can process huge data sets to enable better assessment of the risk, thus facilitating a better level of pricing and more beneficial underwriting decisions.

Reducing Operational Costs: Insurance companies can use AI-enabled automation of routine tasks to lower operational costs, be more efficient, and attain higher profitability.

Fraud Detection: AI-based fraud detection will help insurance companies inspect and prevent fraudulent claims that might affect their purse.

Better Decision Making: AI analytics would be very helpful in providing insights and aiding a decision-making process at all times, giving insurers an edge over the competition.

Challenges and Considerations

Quality of Data and Privacy: The quality and availability of data significantly impact AI. Additionally, there is always the issue of providing complete protection for data privacy as personal customer information is involved.

Ethical Implications: The entry of AI into the insurance industry creates ethical issues in terms of bias, transparency, and accountability. There is a need for guidelines and regulations that define appropriate ethical conduct by AI.

Technical Ability: Application of AI-based solutions involves special technical competency. Some insurers will have to invest in training and talent acquisition to build the required capabilities.

Conclusion

AI is transforming the insurance industry, making it a more efficient industry while enhancing customer experience and risk management. And because of these developments, innovative insurers will be aptly placed to utilize an ever-competitive landscape. Through the assistance of AI, innovation and value delivery will take insurers to build a sustainable future when serving the customers' needs in an ever-changing environment.

FAQs-

Which is the largest regional market for Artificial Intelligence (AI) in Insurance?

Ans: - North America is the largest regional market for air humidifiers.

Which are the top companies to hold the market share in Artificial Intelligence (AI) in the Insurance market?

Ans: - Top Companies- Key players operating in the market are Amazon Web Services, Inc., Avaamo, Cape Analytics, LLC, IBM Corp, Microsoft Corp, Shift Technology, Wipro Limited, Avenga International GmbH, and SAS Institute Inc.

How fast will the market grow during the forecast period of 2023 to 2031?

Ans: - The market for air humidifiers is expected to witness growth at a Compound Annual Growth Rate (CAGR) of 32.7% in the forecast period through 2031.

What are the drivers affecting artificial intelligence in the insurance market?

Ans: - The demand for a personalized experience amongst consumers is among the major drivers influencing global artificial intelligence in the insurance market.

What are the segments for Artificial Intelligence (AI) in the Insurance market?

Ans: -The AI in the Insurance market is segmented into Component, Technology, Deployment, Application, and region.

About Us-

The Insight Partners is among the leading market research and consulting firms in the world. We take pride in delivering exclusive reports along with sophisticated strategic and tactical insights into the industry. Reports are generated through a combination of primary and secondary research, solely aimed at giving our clientele a knowledge-based insight into the market and domain. This is done to assist clients in making wiser business decisions. A holistic perspective in every study undertaken forms an integral part of our research methodology and makes the report unique and reliable.

#ai #artificial intelligence

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jcmarchi · 3 months ago

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How GenAI is Shaping the Future of Business: Key Insights from NTT DATA’s 2025 Report

New Post has been published on https://thedigitalinsider.com/how-genai-is-shaping-the-future-of-business-key-insights-from-ntt-datas-2025-report/

How GenAI is Shaping the Future of Business: Key Insights from NTT DATA’s 2025 Report

NTT DATA’s latest Global GenAI Report, based on an expansive survey of 2,307 executives across 34 countries, provides an in-depth look at how Generative AI (GenAI) is redefining business landscapes in 2025. With respondents spanning 12 industries—including automotive, banking, healthcare, and manufacturing—this report sheds light on the transformative potential and challenges of GenAI as organizations move beyond experimentation to integration. Covering global markets from North America to Asia-Pacific, the findings offer a clear view of GenAI’s impact across strategy, workforce, technology, ethics, and sustainability.

GenAI Sentiment: Hype vs. Reality

A decisive 96% of C-suite executives see GenAI as a revolutionary technology with long-term potential, yet there is some skepticism about immediate ROI. While nearly half of respondents remain cautious about the immediate benefits, 68% express optimism about GenAI’s potential to transform industries. Notably, 97% of organizations are actively planning further investments, underscoring the shift from viewing GenAI as a “nice-to-have” to a critical strategic asset.

Strategic Transformation: Moving from Experimentation to Core Strategy

One of the report’s most notable insights is the shift from fragmented experimentation to intentional, focused GenAI strategies. While 83% of respondents report having a defined GenAI strategy, 49% have yet to align it fully with overall business goals. Key drivers motivating GenAI adoption include:

Productivity Gains: Nearly all CEOs (96%) believe that GenAI will boost productivity.

Improved Compliance: 80% of organizations aim to enhance process adherence and regulatory compliance through GenAI.

Enhanced Customer and Employee Experiences: The top focus areas for GenAI include personalized service, employee support, and improved compliance.

Operational Efficiency: GenAI applications in automation and process improvements are a priority across sectors.

Industry-specific motivations vary, but many share a focus on productivity, compliance, and experience optimization. For instance, automotive companies are prioritizing quality control, risk assessment, and automation, while banking and investment sectors focus on risk management and fraud detection.

Building Dedicated GenAI Teams

Organizations investing in dedicated GenAI teams report significantly higher satisfaction with their AI efforts. Nearly 80% of respondents say they have either established or are building expert GenAI teams. Notably, those with established GenAI teams are three times more likely to express satisfaction compared to those still in planning phases. The government, insurance, and life sciences sectors are leaders in building these expert teams, while education and retail have slower adoption rates. Companies are actively recognizing that expertise in GenAI is crucial for successful, scalable implementations.

Technological Challenges: Infrastructure Gaps and the Need for Cloud Solutions

Technological limitations, especially around legacy systems, present major hurdles. Outdated infrastructure is a notable obstacle, with 90% of respondents indicating that legacy systems are constraining their GenAI potential. Only 45% feel strongly that they currently have the necessary infrastructure to support GenAI. Cloud solutions emerge as the favored approach, with 81% of respondents viewing them as essential for scalable, efficient GenAI applications. CIOs and CTOs are re-evaluating IT architectures, particularly edge and cloud computing, to keep up with the increasing demands of GenAI.

Security and Ethical Concerns: Balancing Innovation with Responsibility

As GenAI grows more integrated into enterprise functions, ethical considerations and security risks are becoming top concerns. Security is a primary worry, with 89% of C-suite executives expressing concern about the security risks associated with GenAI. Only 45% report that their cybersecurity and GenAI strategies are fully aligned, highlighting a gap that companies must address to balance risk and innovation. Leadership accountability is also emerging as a priority, with 82% of respondents emphasizing the need for a named executive responsible for GenAI ethics and governance.

Workforce Impact: Training and Upskilling in the Age of GenAI

A key challenge revealed in the report is a skills gap: two-thirds of organizations acknowledge that employees currently lack the skills to fully leverage GenAI. To address this, over half of the companies surveyed are investing in GenAI-specific training. Notably, organizations investing in employee upskilling have reported substantial improvements in employee satisfaction and retention, with 93% stating that GenAI deployments have positively impacted these metrics.

In terms of specific skill development, 64% of respondents highlight in-house GenAI development skills as a critical need, and top-performing organizations are actively building these competencies. Additionally, tools like predictive analytics, decision management systems, and AI-powered chatbots are among the most commonly planned GenAI solutions aimed at enhancing employee experience.

Sustainability and GenAI: Balancing Environmental Impact with Innovation

While GenAI brings productivity gains, its high resource demands often conflict with sustainability goals. According to the report, three-quarters of respondents believe that their GenAI goals are at odds with sustainability objectives, particularly due to the energy-intensive nature of GenAI operations. Although 94% of respondents support using renewable energy sources for GenAI, 75% acknowledge a misalignment between GenAI and sustainability strategies. This conflict highlights the importance of finding environmentally responsible approaches to GenAI implementation, including energy-efficient data management practices.

Future Outlook: Small Language Models, Multimodal Approaches, and AI Agents

Looking ahead, the report indicates that GenAI’s next phase will involve small language models (SLMs) and multimodal AI approaches to refine decision-making and predictive accuracy. There is a growing interest in “agentics,” a field where AI-driven agents tackle complex problem-solving tasks independently. As the technology matures, organizations are focusing on developing GenAI applications that not only automate but also solve complex problems autonomously.

Key Recommendations for Organizations to Navigate the GenAI Landscape

To succeed with GenAI, NTT DATA recommends that organizations focus on several key areas:

Strategic Alignment: Ensure that GenAI strategies are fully integrated with overall business objectives.

Infrastructure Modernization: Upgrade IT infrastructure to support scalable GenAI applications, particularly through cloud-native solutions.

Workforce Development: Invest in training and upskilling to equip employees with GenAI capabilities.

Ethics and Governance: Establish strong governance frameworks, including a dedicated GenAI ethics executive, to guide responsible AI use.

Sustainability Goals: Align GenAI objectives with sustainability initiatives to ensure environmentally responsible use.

Conclusion

NTT DATA’s 2025 Global GenAI Report offers a comprehensive examination of how GenAI is reshaping industries worldwide. From addressing legacy infrastructure challenges and ethical considerations to closing skills gaps and aligning with sustainability, the findings underscore GenAI’s complex and transformative impact. For organizations looking to leverage GenAI effectively, the focus must remain on integration, governance, and continual assessment of both the opportunities and challenges that this powerful technology presents.

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amairadutta · 4 months ago

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AI and Machine Learning in Financial Services.

Introduction

In today’s digital era, The financial services industry is growing and transforming exponentially and this change is fueled by incorporating advanced technologies like Machine learning and AI in financial services. Across various sectors of financial services, about 75% of them incorporate the usage of at least one significant AI use case to accelerate their outcome. AI-enabled applications are empowering insurers, fin-techs, and banking institutions to deliver top-notch services as well as increase their market share.

In this blog, we will dive into the contributions offered by Artificial Intelligence and Machine learning in the wide landscape of finance and analyze the capabilities as well as the benefits that they bring forth.

The following points help you to learn about AI’s Impact on Finance

1. Better and improved Financial Surveillance

Financial monitoring or financial services are vital for every organization to prevent fraudulent activities from occurring. By leveraging AI and Machine Learning algorithms, financial data can be systematically collected and examined, preventing money laundering activities by detecting frauds.

This enables financial institutions to ensure adherence to rules and regulations and thrive in their respective sectors.

2. Provides Top-notch Financial Advisory service

Many people are indulging in passive investment today, and this very interest of people has made fin-tech companies invest in AI solutions. What sets Robo-advisory apart is its ability to provide useful suggestions and tips based on the preferences of the investors. AI automates the entire investment process, so the only thing the investors have to be concerned about is depositing money into the account.

This is a major advantage for those who are not proficient in handling investment activities on their own. So if you’re someone who wishes to excel in passive investment without having the thorough knowledge of financial analysis, then this AI use case is here to make your investment process seamless and easy.

3. Enables Risk Management

By using machine learning and AI in financial services, the risk levels involved can be minimized by examining extensive data sets from multiple sources. Machine learning tools can get access to data sources during the assessment of loan applicants and their creditworthiness.

As a result, Companies can get insights to make relevant adjustments in the loan terms by predicting the customers who are at a higher risk of loan default.

4. Compliance with Rules and Regulations

The biggest obligation of a financial institution is to follow the rules and regulations that govern the financial processes. If a bank specialist omits a detail in the reports, it may result in minor issues or even cause severe consequences. But with AI’s intervention, data sets are accurately examined by taking into account the different rules and regulations.

5. Drives Process Automation

Automation in financial activities is proven to reduce tedious tasks which are usually done manually by employees in financial sectors. Tasks that involve document preparation and examination of client information can be accomplished in a matter of seconds with the help of AI automation.

Conclusion

In conclusion, Machine learning and AI-enabled applications have had far-reaching positive impact on the financial service sectors. By exploiting the power of data and algorithms, AI and machine learning assist in improving risk management, fraud detection, and compliance with rules and regulations.

#artificial intelligence #machinelearning #financial services

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techahead-software-blog · 4 months ago

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AI in Healthcare Data Security: Protecting Patient Information in the Digital Age

Despite this promising trajectory, challenges remain in the widespread adoption of AI in healthcare. A major obstacle is the shortage of skilled specialists, which results in development delays, costly errors, and inflated healthcare expenses. Consequently, healthcare providers increasingly rely on tech companies for their expertise in implementing AI solutions. This heightened demand for AI in healthcare data security has intensified competition among technology firms as they strive to deliver cutting-edge solutions and gain an edge in the market.

The global artificial intelligence in healthcare market was valued at USD 16.3 billion in 2022, and it is projected to expand at an impressive CAGR of 40.2%, reaching USD 173.55 billion by 2029. This growth underscores the immense potential of AI in healthcare data security and its increasing relevance to the industry.

In response, the need for AI-driven security solutions has never been more crucial. By offering advanced tools that safeguard patient data, these firms play a vital role in ensuring healthcare organizations can implement AI effectively and securely.

Key Takeaways:

AI in healthcare is rapidly growing and is projected to reach $173.55 billion by 2029, with a significant focus on data security. Healthcare has been a huge target for cyber attackers. So data security should be a primary concern.

Healthcare data security is critical due to the sensitive nature of patient information and increasing cyber threats.

AI is revolutionizing patient care and operations, enhancing diagnostics, personalizing treatment, and streamlining administrative tasks. All these aspects have created a huge change in the healthcare sector, and with an instant result, it is because of AI power.

The healthcare sector faces unique security challenges, including human error, medical device vulnerabilities, and regulatory compliance, emphasizing the importance of AI-driven security solutions.

Why is Healthcare Data Security so Important?

With the rise of healthcare technology, organizations are adopting more applications, which store and share vast amounts of patient data. These applications, driven by healthcare data security, expose sensitive records to greater risks of unauthorized access. This increased exposure makes it critical to implement a more holistic approach to protecting healthcare data. Patient records contain highly sensitive details, including medical history, diagnoses, and treatment plans. If these fall into the wrong hands, the consequences could be catastrophic. If these fall into the wrong hands, the consequences could be disastrous, leading to identity theft, insurance fraud, or even disrupted patient care.

The AI in healthcare data security plays a pivotal role in detecting and preventing potential threats. Advanced AI-driven security systems can proactively monitor data access and detect anomalies in real-time, ensuring a swift response to any suspicious activity. By leveraging AI, healthcare organizations can not only safeguard patient privacy but also ensure compliance with strict data protection regulations.

Moreover, healthcare institutions have become prime targets for cybercriminals due to the value of medical data. The surge in electronic health records (EHRs) and interconnected systems heightens the risk of data breaches. Hackers often target healthcare organizations for financial gain or to exploit vulnerabilities in these systems. This is why AI in healthcare data security is essential. It offers advanced encryption and automated defenses to protect these records. Implementing robust cybersecurity measures not only safeguards patient privacy but also ensures trust in the healthcare system.

The Role of AI in Healthcare

Revolutionizing Patient Care

AI is transforming patient care by enhancing diagnosis and treatment, allowing for more accurate and timely decision-making. Through advanced algorithms and machine learning

AI systems can analyze vast accounts of patient data

Identifying patterns that would take humans much longer to discover

This capability leads to faster diagnosis of conditions, such as cancer or cardiovascular diseases, and enables personalized treatment plans based on individual patient profiles. AI-powered diagnostic tools are continuously evolving, offering healthcare professionals deeper insights and supporting improved patient outcomes.

In custom software development, healthcare apps are revolutionizing how treatments are tailored. AI-driven healthcare apps can analyze a patient’s medical history, genetic information, and lifestyle data to create highly customized treatment plans. These apps provide real-time monitoring and recommendations, empowering patients to take a more active role in their health management. From tracking vital signs to predicting potential health issues, personalized healthcare apps bridge the gap between patients and model cal professionals, ensuring continuous care beyond the hospital settings.

Streamlining Operations

Beyond direct patient care, AI is playing a crucial role in optimizing hospital operations and reducing administrative burdens. Hospitals are often burdened by routine tasks like appointment scheduling, medical billing, and patient records management, which can be time-consuming and prone to errors.

AI-powered systems streamline these workflows by automatic repetitive tasks, freeing up staff to focus on more critical functions. For instance, AI tools can process insurance claims more quickly, schedule surgeries, and manage patient flow more effectively, reducing waiting times, and improving overall hospital efficiency.

Moreover, AI enables better resource management in healthcare facilities. By predicting patient admissions and optimizing bed allocation, AI helps ensure that hospitals can meet fluctuating demands. It also plays a significant role in supply chain management. Through this integration, AI reduces operational costs and minimizes waste, ultimately improving the quality of care patients receive while helping healthcare organizations run more smoothly.

Guarding Patient Data Privacy: AI in Healthcare Data Security Dilemma

The healthcare sector’s digital transformation has delivered remarkable benefits but also exposed significant cybersecurity challenges. Recognizing these challenges is vital for healthcare organizations to protect patient data and critical operations from cyber threats.

Resource Constraints and Budget Limitations

Smaller healthcare providers often face severe budget limitations, hindering their ability to invest in top-tier AI in healthcare data security. This lack of resources can delay essential software updates and prevent staff from receiving the necessary data security training. Without these investments, smaller providers become prime targets for cybercriminals. Who exploit weak security protocols and outdated systems. Inadequate resources often lead to neglected areas of defense, making these organizations vulnerable to persistent threats.

Human Error and Insider Threats

Human error is one of the most prevalent causes of data breaches in healthcare. Something as simple as an employee mistakenly sending sensitive patient data to the wrong recipient can have devastating consequences. On top of that, insider threats, where employees exploit their access to gain financial security, pose significant risks.

For example, a hospital staff member once sold patient data to identity thieves. Such incidents underscore the need for stringent internal controls, employee awareness, and regular training programs to reduce these risks.

Interconnected Systems and Third-Party Risks

The integration of multiple systems introduces new cybersecurity vulnerabilities. A clear example is the 2017 NotPetya malware attack, which disrupted numerous healthcare facilities. It originated from a third-party accounting software used in Ukraine, demonstrating how an attack on an unrelated system can wreak havoc. This event underlines the importance of vetting third-party vendors and securing all points of access in interconnected systems.

Medical Device Vulnerabilities

Medical devices, especially those connected to the Internet of Things (IoT), present significant data security challenges. A striking example is the Medtronic Insulin pump hack, where researchers discovered that the device could be remotely manipulated. This vulnerability raised serious concerns about patient safety, highlighting the need for stringent security protocols for medical devices. Ensuring the security of these devices is crucial, as any manipulation could directly harm patient health.

Read more about IoT Apps in Healthcare Improving Patient Outcomes and Remote Care.

Data Breaches and Patient Privacy Violations

Data breaches in healthcare can lead to catastrophic violations of patient privacy. In 2015, Anthem Inc., one of the largest health insurers in the U.S., experienced a breach that exposed the personal data of 78.8 million customers. The exposed data included sensitive information like Social Security numbers, emphasizing the grave consequences of insufficient data security measures. Such breaches can damage trust, lead to legal ramifications, and highlight the need for constant vigilance.

Regulatory Compliance and Security Frameworks

Healthcare organizations are bound by strict regulations like HIPAA and GDPR, which mandate the protection of patient data. Non-compliance can result in heavy penalties, as seen in cases where hospitals have been fined for HIPAA violations. However, compliance alone is not enough. Organizations need to go beyond regulatory standards and build comprehensive cybersecurity frameworks that proactively protect against evolving threats. By doing so, they can safeguard patient privacy while avoiding costly fines.

AI systems, designed to enhance patient care, can introduce new vulnerabilities if not paired with robust healthcare data security measures. The incidents described emphasize the urgency of integrating AI in healthcare data security. Future healthcare leaders must possess the vision and determination to harmonize these technologies while upholding an unwavering commitment to patient privacy.

Leaders must now rise to this challenge. They need to champion the adoption of AI, without compromising security, ensuring the safety of both patients and healthcare institutions.

Taking Proactive Measures to Implement Best Practices for Healthcare Security

A reactive approach to cybersecurity leaves healthcare organizations vulnerable to sophisticated attacks. Instead, adopting proactive measures can significantly strengthen defenses. Leveraging AI in healthcare data security enhances protection by continuously monitoring for threats. Proactively ensuring that patient data remains secure, granting access only to authorized personnel, and strictly limiting data usage to approved purposes are essential steps. This proactive stance helps create a fortified cybersecurity environment, minimizing vulnerabilities before attackers exploit them.

In the unfortunate event of a data breach, a calm and strategic response is crucial. Here are five essential steps to mitigate the damage and restore security.

Activate Your Incident Response Plans

Your incident response plan serves as a blueprint in the event of a breach. Following the structured steps within this plan helps teams remain organized and focused, allowing for a swift and composed response. Using AI in healthcare data security during this phase provides real-time insights into breach patterns, further aiding in containment efforts.

Preserve Evidence

Preserving all relevant evidence after a breach is vital. This data can help identify the cybercriminals responsible and uncover vulnerabilities. Moreover, studying the preserved evidence provides insights into how to strengthen systems against future attacks. AI in healthcare data security can assist by quickly analyzing evidence, and offering recommendations on improving defenses.

Contain the Breach

Containing the breach involves isolating affected systems and stopping the spread of the attack. Shutting down impacted networks and devices is often necessary to limit exposure. You may also need to alert external parties to avoid unauthorized access attempts during this phase. Leveraging AI in healthcare data security enables automated threat detection and containment, further minimizing potential damage.

Initiate Incident Response Management

Incident response management ensures that operational recovery begins promptly. This plan should include actions for employees, such as handing over devices for malware scans. AI in healthcare data security enhances this process by automating malware detection and allowing for faster, more efficient system restoration. Clear steps ensure that devices are secured and can safely reconnect to the network.

Investigate and Repair System

A thorough investigation of the breach must follow. Conduct malware scans on all connected systems before and after the breach was discovered. This process may range from removing malicious software to completely wiping and restoring entire systems. AI in healthcare data security helps streamline this recovery, identifying compromised systems and recommending repair strategies faster than manual methods.

By integrating AI into healthcare data security, healthcare organizations can not only respond effectively to breaches but also significantly reduce the likelihood of future attacks.

Conclusion

AI’s role in healthcare data security is becoming indispensable as the healthcare sector rapidly digitizes. With the rise of electronic health records and interconnected systems, safeguarding patient data has never been more crucial. AI-powered security solutions not only detect and prevent potential breaches but also optimize hospital operations and protect against growing cyber threats.

Adopting AI in healthcare ensures that patient data remains secure, compliance is maintained, and healthcare organizations can provide high-quality, efficient care.

To reach your goal of achieving the data security of your healthcare organization, TechAhead is your one stop for the best consultancy and AI app development service.

Source URL: https://www.techaheadcorp.com/blog/ai-in-healthcare-data-security-protecting-patient-information-in-the-digital-age/

#AIinHealthcare #AIDataProtection #HealthcareCybersecurity #AIHealthcareSolutions

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industrynewsupdates · 6 months ago

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Credit Bureau Services Procurement Intelligence: Key Trends and Insights

The credit bureau services market is expected to grow at a CAGR of 12.6% from 2024 to 2030. The market for credit bureaus is expected to grow in the next few years due to the rising demand for credit cards. Credit card benefits, such as unlimited reward points with usage, insurance protection, discounts, and cashback, help increase credit scores. Further, credit card issuers provide credit bureaus with details about cardholder activity that help them confirm each customer's credit ratings, which serve as the foundation for loan applications.

As per the U.S. Federal Reserve Bank report, 82% of adults had a credit card in 2023, and 36% of adults applied for some type of credit in 2023. The adults with a minimum income of USD 100,000 held a credit card in the U.S. in 2023. The rate of credit card applications remained robust throughout 2023 in the U.S.; it reached 29% in October 2023. Due to these factors, the usage of credit cards has increased, which in turn has led to an expansion in the market for credit bureaus.

A credit bureau acquires and maintains track of a variety of credit-related insights on users and organizations, such as loans taken, overdraft facilities, and credit card usage. Increasingly, credit bureaus are partnering or collaborating with fintech companies to provide custom data analytics due to increasing demand for credit from new-to-credit (NTC) consumers. For instance, in 2023, credit bureaus witnessed more pronounced changes in the consumer credit market. As per the TransUnion report, the demand for auto and home equity loans has been steadily increasing since 2023. However, with increasing preference for credit products, the delinquency levels for personal loans and credit cards also rose in 2023.

According to TransUnion’s 2023 Consumer Pulse study, 26% of Americans planned to seek a credit instrument in 2024. Of those, 53% wanted a credit card, 23% wanted a car lease or loan and 22% wanted a personal loan. Credit limits increased by 26% in 2023, as per Equifax estimates. The share of NTC customers dropped from 17% in September 2022 to 14% in September 2023. Despite this drop, consumption-led demand continues to drive the demand for credit globally. In India, between July to September 2023, in the MSME sector, NTC customers accounted for 46% of the credit demand. They are expected to drive growth notably.

The North American region accounts for the largest category share due to an increase in the number of people looking for credit products like loans and credit cards amidst rising consumer awareness of the importance of maintaining a good credit score and routinely checking credit reports. In most places, there are primarily three major credit bureaus in the world - Equifax, Experian, and TransUnion. However, a few medium-sized private credit bureaus are also present in a few countries apart from these three giant players.

Order your copy of the Credit Bureau Services Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Companies are concentrating their efforts on introducing cutting-edge technologies to strengthen their position in the industry. Blockchain technology enables instantaneous and transparent transaction initiation and execution amongst many parties. For instance:

• In May 2024, Equifax collaborated with the commerce platform, VTEX, to help prevent fraud for merchants worldwide. VTEX’s platform will utilize Equifax’s robust fraud prevention and detection capabilities and “Kount Payment Fraud” solution in this partnership. This will help both B2C and B2B merchants secure their business while providing enhanced customer solutions.

• In March 2024, TransUnion introduced its new platform called “OneTru” for managing, analyzing and providing data-related insights about customers. The platform unifies separate data and analytical resources designed for fraud prevention, credit risk, and marketing and then consolidates them into a single unified integrated layer. This strategy enables TransUnion to provide a more accurate, comprehensive and compliant picture of customers, regardless of the use case.

Credit bureaus possess high bargaining power primarily due to their unique position as information aggregators and providers in the financial landscape. They collect and maintain detailed credit histories of individuals and businesses, which are crucial for lenders and other financial institutions to assess creditworthiness. This information asymmetry gives credit bureaus significant leverage when negotiating with clients, including banks, credit card companies, and other financial entities. Additionally, regulatory barriers and limited competition in the industry contribute to their strong bargaining position. As a result, credit bureaus can influence market dynamics and often dictate terms that favor their interests.

The credit bureau services industry is highly consolidated in nature. Globally, more than 50% - 60% of the market is dominated by three players - Experian, Equifax, and TransUnion. The concentrated industry structure of credit bureau services can be attributed to several factors. First, the nature of the industry requires a high level of trust, accuracy, and regulatory compliance. This leads to a preference for established players with proven track records. Additionally, the entry barriers are relatively high due to the complexity of the services, the need for extensive data management systems, and the regulatory environment. As a result, a few dominant players tend to dominate the market, creating a concentrated industry structure.

The major cost components are salaries of professionals, IT and infrastructure, operational and administrative expenses, legal and marketing. Credit bureaus and IT technology play a vital role in maintaining accurate and efficient credit reporting systems. The importance of investing in IT technology lies in its ability to streamline processes, reduce errors, and enhance security measures. This, in turn, ensures that consumers receive fair credit assessments and financial institutions can make informed decisions. While the cost of implementing and updating IT systems may be significant, the benefits of improved data management, faster access to information, and better risk management far outweigh the expenses.

The category is based on a subscription pricing model, where a full report can be generated with credit scores depending upon the subscription period. The subscription plan could be for one year, 6 months, monthly, or one time as per company requirement. For instance, TransUnion CIBIL, an India-based credit information company, charges Rs 550 for credit report with a credit score. The element affecting the cost structure for credit bureau services is labor cost and software cost used in this industry. Credit bureau services come with various features, such as identity theft insurance and card activity alerts which require investment in software and acquiring labor.

Countries such as the United States, Canada, the United Kingdom, India, and Australia are preferred business destinations for these services. People in these countries give significant importance to credit scores which determine their financial competency and self-esteem. One of the essential sourcing practices for this category is engaging and negotiating with more than one supplier to acquire a holistic package of services. For instance, different credit bureau companies are providing a different set of services with credit report services. Experian can provide services such as credit scores and reports along with offering loans. In contrast, CRIF High Mark can offer credit scores and reports along with analytics services such as the deduplication platform. Therefore, businesses are required to negotiate and source the appropriate suppliers to get a whole sum report at affordable prices. Other sourcing practices considered in the category are competitor pricing strategies evaluation and payment terms.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Payment Processing Solutions Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Cash-in-Transit Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Credit Bureau Services Procurement Intelligence Report Scope

• Growth Rate: CAGR of 12.6% from 2024 to 2030

• Pricing growth Outlook: 3% - 5% (Annually)

• Pricing Models: Subscription pricing model

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier Selection Criteria: Individual and Commercial Credit Report Services, Microfinance Credit Information Report, Credit Report Verification Services, Additional services (Loan Report, Score Simulator, Membership Access), operational capabilities and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies

• CRIF High Mark Credit Information Services Pvt. Ltd

• Equifax Inc., Experian PLC

• Innovis (CBC Companies)

• TransUnion LLC

• Credit Bureau Malaysia Sdn. Bhd.

• Qatar Credit Bureau

• The Saudi Credit Bureau (SIMAH)

• Credit Bureau Singapore

• National Credit Bureau Company Limited (Credit Bureau)

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

#Credit Bureau Services Procurement Intelligence #Credit Bureau Services Procurement #Procurement Intelligence

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ecomstreetllc · 7 months ago

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How Cloud Technology is Transforming the Insurance Industry

In the fast-paced world of technology, the insurance industry is witnessing a revolutionary change, thanks to cloud technology. Cloud technology offers numerous advantages, from improving operational efficiency to enhancing customer experience. At eComStreet, we believe understanding these transformations is crucial for staying ahead in the competitive market.

One significant way cloud technology is transforming the insurance industry is by providing scalable and flexible data storage solutions. Insurers can now store vast amounts of data securely and access it in real-time, enabling better data management and analysis. This capability is essential for risk assessment, underwriting, and claims processing, leading to more accurate and efficient operations.

Additionally, cloud technology enhances collaboration and communication within insurance companies. Teams can easily share information and work together seamlessly, regardless of their physical locations. This improved connectivity fosters innovation and speeds up decision-making processes, ultimately benefiting customers with faster and more personalized services.

Another critical aspect of how cloud technology is transforming the insurance industry is through the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML). Cloud platforms provide the necessary infrastructure for deploying AI and ML algorithms, allowing insurers to automate processes, predict trends, and detect fraud more effectively. These advancements lead to significant cost savings and improved customer satisfaction.

Moreover, cloud technology ensures robust security and compliance. Insurance companies deal with sensitive customer data, and maintaining its confidentiality is paramount. Cloud service providers offer advanced security measures, including encryption, access controls, and regular audits, to protect data from cyber threats and ensure compliance with regulatory standards.

In conclusion, the adoption of cloud technology is revolutionizing the insurance industry by offering scalable data storage, enhancing collaboration, integrating advanced technologies, and ensuring robust security. As cloud technology continues to evolve, insurance companies must embrace these innovations to stay competitive and deliver exceptional customer experiences. At eComStreet, we are committed to helping insurers navigate this transformation and achieve their business goals.

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trendingreportz · 7 months ago

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Graph Database Market - Forecast(2024 - 2030)

Overview

The Graph Database Market is forecast to reach $ 3.21 billion by 2025 growing at a CAGR of 22.6% during the forecast period 2020-2025. The Growth of Graph Database Market can be attributed to the increase in application areas of graph database, upsurge in penetration of connected data to optimize marketing performance, surge in adoption of graph database software in the healthcare sector, rise in need for better response time & accuracy to discover new data correlations etc. Rising adoption of cloud based solutions to enhance business processes will further fuel the growth of Graph Database Market. Increase in usage of virtualization in big data analytics and technological advancements in graph database are expected to create lucrative opportunities for the market during the forecast period.

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Key Takeaways

Large enterprises to boost the adoption of graph database tools as the implementation of these tools and services in large enterprises simplifies risk and compliance management tasks.

As most of the organizations has digitalized their businesses, the supply chain management application is expected to grow at the highest CAGR due to rising need for real-time, location-based insights across the entire supply chain.

Growing dependency on connected data for fraud detection across various industries including e-commerce, banking, financial services and insurance, contributes to the growth of global graph database market.

The transportation & logistic industry is expected to witness the highest CAGR in the graph database market during the forecast period, due to the rising adoption of graph database technology in this industry to compute fast, to enable localized door-to-door delivery of goods between buyers & sellers, and to scale their business to include the supply chain.

Implementation challenges and lack of technical expertise to create hurdles for the Graph Database Market.

Component Type - Segment Analysis

The software segment has been analyzed to attribute to the majority of share in the Graph Database Market during the forecast period 2020-2025 owing to the rising demand for software, as massive volume of data is continuously generated due to which managing data using a traditional relational database infrastructure is difficult for enterprises. These organizations need to manage their data efficiently and effectively to enhance their productivity and maintain business continuity. The proliferation of data amounting to big data has forced vendors to design graph database software and help Information Technology (IT) teams simplify and manage their decision-making process. For Instance, in July 2019 Dgraph raised $11.5 million for scalable graph database solutions. Thus Graph database tools are becoming prevalent among data-sensitive organizations to cope with the ever-increasing volumes of data which is indicating opportunity for the growth of Graph Database Market.

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End-user - Segment Analysis

Among the end users, the healthcare and life sciences sector is expected to dominate the Graph Database Market with the highest CAGR of 12.48% during the forecast period 2020-2025. Graph database software plays a key role in the healthcare and life sciences sectors for recording patient’s information and to provide this information to numerous patients or healthcare providers. Healthcare organizations and institutions are using graph database tools to improve and enhance the operational efficiency, safety, reduce costs, and improvise the quality of patient care, thus fueling its adoption in the healthcare sector. Industry regulations, such as HIPPA and HITECH, provide guidelines for healthcare data privacy and the safe transmission of electronic health data. Healthcare-focused start-ups are leveraging the graph database technology to cater to the unmet needs of customers. For instance, Zephyr Health, a health-focused start-up is leveraging graph database technology as one important component of its service offerings. Furthermore, by using graph database technology, healthcare organizations are leveraging the connections within their existing data such as connected genome or information related to patient treatments, which is opportunistic for the graph database market.

Geography - Segment Analysis

North America dominated the graph database market accounting for 42% of shares in 2019 and this trend is expected to continue over the forecast period 2020-2025. The emergence of technology-based enterprises and industries has created the significant growth opportunities for the graph database vendors in this region as the organizations highly rely on data, which is driving the adoption of graph database tools and related technologies. Increasing number of manufacturing firms, proliferation of Internet of Things (IoT) devices, and emergence of AI will further fuel the market growth in this region. The rapid generation of data across industry verticals and the increasing investments in new technologies, such as Machine Learning (ML) is expected to propel the demand for graph database tools during the forecast period. Increasing investments by various graph database vendors in these regions will further fuel the growth of the market. For instance, in September 2019, TigerGraph a California-based software developer raised $32 million for graph database tools.

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Drivers – Smart Display Market

Real-time big data mining with visualization of results to drive the Graph Database Market.

Graph database eases the distribution of any data across data centers or cloud regions, making business applications ready to scale, and able to create real-time insights and experiences. Moreover, it helps display insights through data visualizations and provides a real-time prediction for streaming data. Hence, the graph database is used to enhance business process, improve decision-making, and achieve the ability to automate, optimize, and direct decisions as per demands to reach set business goals. The growing consensus toward graph database is the most direct path to extract business decisions from the value found in the data.

Penetration of connected data to optimize marketing performance is expected to drive the Graph database Market.

Graph databases are majorly designed for highly interconnected data. It works best when the data is connected, and should be represented by how it links or refers to other data. For instance, the application of graph database technology in social network. Moreover, for highly connected data, graph database technology provides numerous benefits as compared to other relational databases, including enhanced performance, improved flexibility, and easier data modeling, which are expected to provide lucrative opportunities for the graph database market. For instance, highly connected data can cause a lot of joins, which generally are expensive. After over seven self/recursive joins, the relational database management system slows down considerably as compared to graph databases.

Challenges – Graph Database Market.

Lack of standardization and programming ease to hamper the market growth.

While graph databases are technically NoSQL databases, in practice, they cannot be implemented across a low-cost cluster, but have to run on a single machine. This is the reason behind the rapid performance degradation across a network. Another potential drawback is that developers have to write their queries using Java as there is no Standard Query Language (SQL) to retrieve data from graph databases, which means employing expensive programmers or developers use SparcQL or one of the other query languages that have been developed to support graph databases. These challenges may hinder the Graph Database Market growth.

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Market Landscape

The Graph Database Market is dominated by major solution providers, such as IBM (US), Microsoft (US), Oracle (US), AWS (US), Neo4j (US), OrientDB (UK), TIBCO (US), Franz (US), OpenLink Software (US), MarkLogic (US), TigerGraph (US), DataStax (US), Ontotext (Bulgaria), Stardog (US), Cray (US), ArangoDB (US), Bitnine (US), Objectivity (US), Memgraph (UK), Cambridge Semantics (US), Fluree (US), and Blazegraph (US). Investments, product launches along with partnerships are the key strategies adopted by the players in the Graph Database Market

Product Launches / Collaborations / Investments

In November 2018, Neo4j raised $80 million for next-generation graph databases to grow its developer tools and support popular use cases, particularly graph-enabled artificial intelligence (AI) and machine learning (ML) systems.

In April 2019, Neo4j and Google Cloud announced a strategic partnership that will offer the Neo4j graph database delivered as a seamless experience integrated with GCP console, billing, and support services.

In July 2019, TigerGraph Launched PartnerGraph Program to Meet Growing Demand for Graph Analytics in AI and Machine Learning. New Program Enables Partners to Leverage Leading Scalable Graph Database and Analytics Platform.

#Graph Database Market #Graph Database Market Size #Graph Database Market Share #Graph Database Market Analysis #Graph Database Market Revenue #Graph Database Market Trends #Graph Database Market Growth #Graph Database Market Research #Graph Database Market Outlook #Graph Database Market Forecast

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wellnessweb · 7 months ago

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Healthcare Payer Services Market Size: Key Drivers

The Healthcare Payer Services Market Size was valued at USD 62.67 billion in 2022 and is expected to reach USD 111.7 billion by 2030 and grow at a CAGR of 7.5% over the forecast period 2023-2030.The Healthcare Payer Services Market is rapidly evolving as technological advancements and regulatory changes drive the industry towards more efficient and patient-centric models. This market encompasses a wide range of services provided to health insurance companies, including claims processing, member management, and care management. With the increasing adoption of value-based care, healthcare payers are focusing on improving patient outcomes while controlling costs. Innovations such as artificial intelligence, blockchain, and data analytics are transforming payer operations, enabling better risk management, fraud detection, and personalized health plans.

Market Scope & Overview

The Healthcare Payer Services Market research report includes data on type, industry, channel, and other factors as well as market volume and value figures for each category. The top distributors, market players, and supply chain organizations are also included in the market research report. It also considers characteristics and qualities that might affect how market sales develop.

The market research report provides comprehensive data on the market size, share, production capability, demand, and growth for the industry in the coming year. The market's present and future states are thoroughly examined in the worldwide Healthcare Payer Services Market research study. Critical market information gathered via in-depth primary and secondary research is included in the target market report.

Market Segmentation Analysis

By Service Type

BPO Services

ITO Services

KPO Services

By Application

Claims management services

Integrated front office service and back-office operations

Member management services

Provider management services

Billing and accounts management services

Analytics and fraud management services

HR Services

By End User

Private Payers

Public Payers

COVID-19 Pandemic Impact Analysis

The most recent COVID-19 scenario analysis is included in the market research study. Distinct regions of the world are experiencing different repercussions of the coronavirus outbreak on the global economy. The market is continuously changing, and the ramifications for the present and future are being assessed during market research, according to the Healthcare Payer Services Market research report.

Regional Outlook

The Healthcare Payer Services Market studied across North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa regions of the globe. Research focuses on consumer demand ratios, technological breakthroughs, R&D, and a strong global presence. It also examines supply and demand, infrastructure development, economic growth, market size and share, import and export ratios, supply and demand, and supply and demand.

Competitive Analysis

The Healthcare Payer Services Market research focuses on the industry's most important mergers, partnerships, and acquisitions. To give readers a better knowledge of the big corporations, contemporary research techniques like SWOT and Porter's Five Forces analysis are included in the research report.

Key Reasons to Purchase Healthcare Payer Services Market Report

· Global research data covers a wide range of topics, such as growth rates, surveys of the competitive environment, and statistics related to international marketing.

· The research report examines financial issues, global positioning, product portfolios, sales, and gross profit margins along with technical and scientific advancements.

Conclusion

The Healthcare Payer Services Market research report looks closely at the global competition climate and provides important details on the main competitors and their long-term growth plans.

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When you employ our services, you will collaborate with qualified and experienced staff. We believe it is crucial to collaborate with our clients to ensure that each project is customized to meet their demands. Nobody knows your customers or community better than you do. Therefore, our team needs to ask the correct questions that appeal to your audience in order to collect the best information.

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hitchzone24 · 3 months ago

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RuPay Credit Cards vs. Visa and MasterCard – Understanding the Differences

1. Origin and Ownership

2. Reach and Acceptance

3. Transaction Costs and Fees

4. Security Features

5. Benefits and Rewards

RuPay: These offer benefits like cashback, discounts on utility payments, and other rewards.

Which One’s Right for You?

Your choice between these cards should align with your spending habits, travel needs, and financial priorities.

#CreditCard #Finance #CashbackCard

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rohitpalan · 29 days ago

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Explosive Growth Forecast for CPaaS Market: Projected to Surge from USD 12.3 Billion in 2024 to USD121 Billion by 2034

The global Communications Platform as a Service (CPaaS) market exhibited robust growth in 2021, with total revenue reaching approximately US$ 5,296.6 million. This growth trajectory is projected to continue, as the CPaaS market is expected to soar to an estimated US$ 59,362.1 million by 2032, marking a staggering CAGR of 25.0% during the forecast period of 2022-2032.

Communications platform as a service or CPaaS solutions are referred to as cloud solutions which enable organizations to add real-time communication features onto business applications. These solutions are adaptable, scalable, and unite latest integrated communication services into a single offering.

Communications platform as a service brings together several types of communications, including calls, emails, and SMS for enhanced customer engagement. Emergence of omni channel methods for customer management is set to increase the demand for CPaaS solutions in the banking and financial sector. Insurance firms, banks, and payment providers require a secure platform for providing rapid and dependable services to customers while preventing fraud. CPaaS solutions have proved to be a secure real-time communication platform across the BFSI industry.

CPaaS solutions are becoming more popular, especially in the banking sector as these provide personalized offerings. CPaaS services, on the other hand, deliver onboarding features and text reminders to customers, thereby reducing delinquency risk with compliance and security.

Furthermore, implementation of CPaaS solutions results in the early fraud detection with outbound IVR facility. These facilities come along with additional options for immediate transfer to agents offering secure environments to customers for financial transactions. Such wide adoption is opening new opportunities for key players in the CPaaS market.

Key Takeaways: Communications Platform as a Service Market

By solution, the CPaaS software segment is predicted to lead the global communications platform as a service market with a CAGR of 2% during the forecast period.

By enterprise size, the large enterprises segment is set to dominate with a CAGR of nearly 23% between 2022 and 2032.

By industry, the healthcare segment is anticipated to exhibit an astonishing CAGR of 31% in the forthcoming years.

By geography, North America had the largest market share of about 2% in the CPaaS industry in 2021.

The South Asia & Pacific region is expected to witness the highest growth rate of around 7% throughout the forecast period of 2022-2032.

“Growing demand for customer communication and customer engagement across the BFSI and retail industries is expected to drive the global communications platform as a service market growth,” says a FMI analyst.

Increasing Demand for CPaaS in Retail Industry to Drive the Market

Retail firms are utilizing CPaaS solutions to adapt to the hybrid environment of modern day purchase requirements. Large-scale retail and consumer enterprises with multiple locations add cloud-based call routing solutions to ensure accurate routing of calls and SMS depending on location, time, and need.

Several brick and mortar, as well as online merchants utilize CPaaS solutions as the preferred business software. Such software solutions can circulate customized information, initiate in-store event registrations, offer segmented discount codes, and send sales alerts. Also, the addition of SMS with voice to the communication strategy is ensuring increased footprint of products onto consumers.

Up-to-date and flexible real-time integrated communication services enable small- and large-scale retail business to embrace the rapidly evolving cloud communications market. Thus, increasing adoption in retail industry is fueling the market growth and is anticipated to continue its supremacy in the near future.

Communications Platform as a Service Outlook by Category

By Solution:

Communications Platform as a Service (CPaaS) Software

Services

Professional Services

Integration & Implementation

Consulting

Support & Maintenance

Managed Services

By Enterprise Size:

Small & Medium Enterprises (SMEs)

Large Enterprises

By Industry:

IT & Telecom

BFSI

Manufacturing

Healthcare

Retail & CPG

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware – 19713, USA T: +1-845-579-5705 For Sales Enquiries: [email protected] Website: https://www.futuremarketinsights.com LinkedIn| Twitter| Blogs | YouTube

#CPaaS Market

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infoswift · 8 months ago

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The Importance of Seamless Data Flow for InsurTech, Insurance Aggregators and Insurance Agencies

The insurance industry is experiencing a significant transformation in today's fast-paced digital landscape. InsurTech, Insurance Aggregators, and Insurance agencies are at the forefront of this evolution, leveraging technology to enhance efficiency, improve customer experiences, and drive growth. At the heart of this transformation lies the seamless flow of data and information, a critical element that can make or break an insurance business.

Why Seamless Data Flow Matters

Enhanced Customer Experience

Personalization: Seamless data flow enables insurance agencies to gather and analyze customer data efficiently. This allows for personalized insurance solutions tailored to individual needs, enhancing customer satisfaction and loyalty.

Speed and Efficiency: Quick access to accurate data ensures faster processing of claims and policy applications, reducing waiting times and improving overall customer service.

Operational Efficiency

Automation: Integrating data across various platforms and systems streamlines operations. Automated workflows reduce manual interventions, minimizing errors and freeing up time for employees to focus on more strategic tasks.

Real-time Insights: Continuous data flow provides real-time insights into business operations, helping companies make informed decisions swiftly. This agility is crucial in adapting to market changes and staying competitive.

Risk Management and Fraud Detection

Predictive Analytics: With seamless data integration, insurance companies can leverage predictive analytics to identify potential risks and take proactive measures. This not only enhances risk management but also helps in pricing policies more accurately.

Fraud Detection: Consistent data flow allows for comprehensive monitoring and analysis, making it easier to detect and prevent fraudulent activities. Advanced algorithms can identify patterns and anomalies that human eyes might miss.

Regulatory Compliance

Accuracy and Consistency: Ensuring that data is accurate and consistent across all systems is vital for regulatory compliance. Seamless data flow helps maintain data integrity, reducing the risk of non-compliance penalties.

Audit Trails: An integrated data system provides clear audit trails, making it easier to demonstrate compliance with industry regulations during audits and reviews.

Collaboration and Innovation

Cross-functional Collaboration: Seamless data flow fosters collaboration across different departments within an organization. When data is easily accessible, teams can work together more effectively, driving innovation and improving overall business performance.

Partner Ecosystem: For InsurTech companies, seamless data integration with partners (such as reinsurers, brokers, and third-party service providers) is crucial. It enables the creation of innovative insurance products and services that meet evolving customer needs.

Implementing Seamless Data Flow

To achieve seamless data flow, InsurTech , Insurance Aggregators and Insurance agencies should consider the following strategies:

Adopt Modern Data Integration Tools: Invest in advanced data integration tools that facilitate the smooth exchange of information between disparate systems.

Implement API Solutions: Use APIs (Application Programming Interfaces) to enable different software applications to communicate and share data efficiently.

Ensure Data Security: Protect data integrity and confidentiality with robust security measures, including encryption, access controls, and regular security audits.

Leverage Cloud Technology: Cloud-based platforms offer scalability and flexibility, making it easier to manage and integrate large volumes of data.

Embrace AI and Machine Learning: These technologies can automate data processing and provide valuable insights through predictive analytics and intelligent automation.

We at InfoSwift, played a pivotal role in transforming how InsurTech firms, insurance aggregators, and insurance agencies source and exchange data from various insurance carriers. By leveraging our expertise in API development, data security, analytics, and scalable solutions, we have enabled our clients to enhance operational efficiency, improve customer experiences, and stay competitive in the dynamic insurance industry. Whether you are an InsurTech startup or a well-established insurance agency, our solutions are designed to meet your specific needs and drive your business forward.

In conclusion, the seamless flow of data and information is not just a technological imperative for InsurTech , Insurance Aggregators and Insurance agencies ; it is a strategic necessity. By ensuring that data moves effortlessly across systems and platforms, these organizations can unlock new opportunities for growth, enhance customer experiences, and maintain a competitive edge in the rapidly evolving insurance landscape.

#insurtech #infoswift #integration #app modernization #digital transformation #insurance

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