AI/Machine Learning, Virtual Assistants, IoT, Virtual Reality, Digital Twins, Blockchain, Chatbots and apps talking to each other! These are the trends predicted for 2017 that will be impacting our lives, if not already.
These will quickly make their way in to the insurance market in a big way, in fact the London Market is already starting to talk about some of them now, particularly AI and robotics.
Digital twins, which does sound like something from a sci-fi horror, would have a great application in risk and claims management. What do you think?
Digital twins Shutterstock What do you get when you combine AI, IoT, and VR/AR? A digital twin. This is a computerized replication of something in the real world generated by sensor data. Digital twins will one way become the de facto way that workers interact with the real devices floating around the real world. They'll be able to watch IoT objects, diagnose failures, test solutions, even create new products via twins. And you'll start hearing about them more next year, Gartner believes. It's hard to attach a dollar figure to digital twins yet, but within three to five years, hundreds of millions of things will be represented by digital twins, Gartner says.