IoE and the Insurance Impact
The Internet of Everything (IoE) and its impact on financial services and more specifically, insurance, is at its infancy. Many other industries are already taking advantage of data coming from historically non-communicative devices to make changes to processes, automate inventories and adjust the amount of water required for farming. As IoE proliferates within the insurance industry, there becomes an increasing need to connect data sources and virtualize that data. With more connected “things” than ever, data points can be utilized in different ways to provide better customer service, prevent fraud and develop new products. Because these new data points can change everything from a business model to product design, insurers need sophisticated software to manage them. All of these additional data points are on top of the explosion of data already in the industry – referred to as “big data”.
Insurers are now looking into software solutions that virtualize data and connect disparate sources around the firm to business intelligence applications that decision makers are using to look for specific insights. The opportunity won or lost will be determined by how well a business leader leverages their data to affect business value and obtain a significant advantage over competition. Data virtualization, a way of optimizing data from disparate sources, allows insurers and financial professionals the ability to manage big data and get updates in real-time without moving it from its original location. By leaving the data in its original location, it reduces the duplication of data when data marts and data warehouses are created for specific analytics applications (e.g. Customer Information File) and allows for other applications to easily access the data as well. Read More »
Tags: Cisco, Financial Services, insurance, insurers, Internet of Everything, internet of things, IoE
In the world of sports, becoming the fiercest competitor possible is the name of the game.
Today, the intersection of cloud technology and smart sports equipment is helping athletes and para-athletes perform at a world-class level. As a techie, you might admire the new shock absorbers built for downhill skis so paraplegics can hurl down a mountain at 70mph. Or how can you not marvel at the development of the prosthetic retina that can help blind athletes perform the sports they love?
Another amazing advancement is highlighted in Rick Smolan’s book, The Human Face of Big Data. Sheila Nirenberg, an associate professor at Weill Cornell Medical College, developed a way to enable patients with macular degeneration to see again. Awesome! As stated in the book:
“Using an array of high-speed, parallel processing computers, Nirenberg and her team embedded custom software in microprocessors and cameras that will be built into eyeglasses…images captured by the cameras will be translated into code in the form of thousands of pulsing lights, which can be recognized by the brain.”
It won’t be long before today’s visually impaired athletes can use this technology to compete at the highest level. And more than ever, this technology will rely on data that flows quickly and in real-time.
This is where cloud computing plays a key role – allowing data to be easily accessed and stored, so that mobile devices and the peripherals of tomorrow (connected eyeglasses, etc.) can provide new experiences to athletes. These devices will be able to transmit data, communicate to each other (M2M) and relay to the user (M2P) vital information needed for the athlete.
Advancements in medical technology and cloud computing are giving us a new perspective on life
For example, a partially blind, or fully blind cross-country skier may one day have the capabilities through the Internet of Everything (IoE) to communicate through M2P technology while on the course. What will this mean? Sensors indicating course characteristics (downhill, uphill, turns, starting line/finish line, timing, etc.) will be able to communicate and relay the information in real-time to the skier. These types of mobile-enabled experiences are powered through cloud infrastructure and applications.
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Tags: Big Data, blindness, Cisco, cloud, Cloud Computing, connected athlete, data, data in motion, Internet of Everything, IoE, M2P, Rick Smolan, Sheila Nirenberg, The Human Face of Big data, Weill Cornell Medical College
In my role as Cisco’s Chief Futurist, I get many questions about what the future holds and how new technology and emerging solutions will change our lives. Be sure to check out previous Ask the #InternetOfEverything Futurist blogs and videos about the advances of battery technology, future of smartphones, new retail models and how new solutions will integrate with our five senses.
Imagine being able to watch your entire life happen before your eyes or being able to recall specific memories and events, as to relive them the exact way they happened. As the Internet of Everything (IoE) and the network to support it evolve, our lives will be able to literally flash before our eyes.
Today, the first versions of this technology are being developed and utilized to create digital copies of landmarks and monuments. For example, cyber archivists are increasingly using a 3D data recording processes that utilizes a spinning laser on a tripod to collect millions of points of information. Once objects or monuments are fully scanned, the archivists combine the collected data with photographs and then create a virtual version that can be used in classrooms around the world or for various other applications.
Not only will we be able to create an index of digital copies from buildings, monuments and landmarks, this technology will advance to the point that we can record and organize event sequences that take place over the course of our lives. However, this information is useless unless in can be securely accessed in real-time. One point is clear, with this influx of connected people, process, data and things, the Internet of Everything depends on a stable and secure network as we make our own history come to life.
In this Ask the #InternetOfEverything Futurist post, I’ll answer a question from Cisco Champion, Robert Novak, who asks about what the Internet of Everything will mean for preserving our past and our building our future. Robert asks:
Question: “How do you see emerging technology being used to preserve and enhance the past?”
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Tags: Ask The Futurist, Cisco, forecast, innovation, Internet of Everything, internet of things, IoE, IoT, mobility, network
Choosing a career in technology turned out to be one of the best decisions of my life. At one time, however, it seemed counterintuitive to enter such a male-dominated industry. I’m not an engineer. I don’t have a degree in computer science. The only traditional tech skill I possessed was a small knowledge of HTML programming language, which I at one time used to put up static web pages. Today, that skill is useful only for editing blog posts.
What I was trained for was design. I moved into technology because it offered me a fresh way to leverage those talents while having a bigger impact. As a designer, I was taught to understand the context of a problem and to generate insights and creative solutions. I switched from a career in print design because technology was providing exciting new ways to reach people. I found it fascinating and wanted to be a part of it.
Apparently, I’m in the minority. A Forbes article cited research from Maria Klawe, a computer scientist and president of Harvey Mudd College, in listing some of the main reasons women don’t choose tech careers. Many believe that they won’t find a career in tech interesting, while others fear they won’t be good at it. A third concern is working in such a predominantly male bastion.
I have to say that my experience on all three counts has been just the opposite.
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Tags: Big Data, Cisco, Cisco Consulting Services, FutureOf, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, mobility, retail, Women in Technology
Retail success has always been about delivering on the “4 Rs”: getting the Right products to the Right place at the Right time and for the Right price. While that success formula remains valid, technology-enabled advancements promise to disrupt how — and how well — retailers will be able to deliver on each element.
“Omnichannel” is a theme that has dominated retailers’ mindshare the last several years as digital influence and mobile connectivity become bigger and bigger elements in the shopping journey. Now emerging are the Internet of Everything (IoE) and Big Data analytics. While pervasive IoE connectivity generates a deluge of data, new analytics tools are helping to turn this raw data into actionable insights. The mashup of omnichannel, Big Data, and IoE is positioned to drive new operational benchmarks through a focus on the retail industry’s new “4 Ps of Performance”: Precision, Personalization, Prediction, and Platforms.
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Tags: analytics, Big Data, Cisco, Cisco Consulting, Internet of Everything, IoE, omnichannel, retail