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Predictions for the financial services industry in 2024

OpenText Information Management

We’ve experienced economic, geopolitical, technological, and societal challenges over recent months with the ongoing cost-of-living crisis, high interest rates, inflation, global conflicts, catastrophic weather events, the rise in artificial intelligence such as ChatGPT, to name only a few.

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Top financial services trends of 2024

IBM Big Data Hub

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. One example of this is in insurance.

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Turning climate risks into business opportunities 

IBM Big Data Hub

Substantial repair costs might arise, particularly impacting insurance companies. In some business sectors, such as financial services, fast-moving consumer goods and healthcare, business interruptions can have a significant detrimental impact on daily life.

Risk 67
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The most valuable AI use cases for business

IBM Big Data Hub

When thinking of artificial intelligence (AI) use cases, the question might be asked: What won’t AI be able to do? But right now, pure AI can be programmed for many tasks that require thought and intelligence , as long as that intelligence can be gathered digitally and used to train an AI system.

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Conversational AI use cases for enterprises

IBM Big Data Hub

Conversational artificial intelligence (AI) leads the charge in breaking down barriers between businesses and their audiences. Conversational AI is also making significant strides in other industries such as education, insurance and travel. Today, people don’t just prefer instant communication; they expect it.

Analytics 106
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How generative AI delivers value to insurance companies and their customers

IBM Big Data Hub

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 107
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SER’s growth double that of ECM market competition

Info Source

The SER Group is a driver of future trends such as the interaction between ECM, cloud computing, big data and artificial intelligence (AI). Coinciding with the growth in licensing business, service business has also jumped by over 11%. As a result, the Professional Services team was increased by 25% to a total of 225 employees.

ECM 40