Over the next five years we can expect to see rapid maturation in the business application of “robotic” technology. A huge amount of innovation is happening in the converging fields of Internet of Things (IoT), artificial intelligence (or “cognitive computing”, as IBM prefers to call it), robotic process automation, and drones.
A look at some of Gartner’s predictions gives a sense of the scale of the transformation. By 2018, six billion connected things will be requesting support. By year-end 2018, digital customer assistants will recognise individuals by face and voice. By 2020, “smart agents” will facilitate 40 per cent of mobile interactions, and the “post-app era” will begin to dominate.
This “robo-revolution” presents numerous opportunities and challenges for the global insurance industry. Ninety foresees a shift towards “augmenting” human roles by providing staff with technology such as sensors, robotic process automation and drones that will enable work to be done more quickly, cost effectively, safely and accurately.