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Financial institutions could increase revenue by $512 billion with automation The financial services industry could potentially add $512 billion in global revenue by 2020 with the use of intelligent automation.
Of this sum, $243 billion is expected to come from the insurance industry, while the other $269 billion will likely come from banking and capital markets.
Intelligent automation is defined as a combination of robotic automation processing (RPA), AI, and business process optimization to achieve strategic business objectives, such as software that handles high-volume, repeatable, and rule-based tasks.
While 52% of companies are focused on cost savings when automating processes, 45% actually look to grow revenue with it, and 55% want to increase customer satisfaction.
Business Insider Intelligence's Lea Nonninger has the full story. | |
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| | | Target is making use of a proprietary app called Studio Connect to allow a select group of members to collaborate with each other and Target's design teams. Read More → | | | | |
| | | Snapchat is working on a visual product search feature that would allow users to press and hold an item on screen and then be directed to Amazon listings for that product. Read More → | | | | |
| | | Google on Tuesday announced several new machine learning-powered ad offerings to help brands run more effective campaigns. The tools are designed to enhance ad campaigns across the tech giant's Search, YouTube, and Google Maps properties, and will likely help it top the $21.4 billion in ad revenue it generated in Q1 2018. Read More → | | | | |
| | | The company will be rolling out its NB-IoT network in the US and Mexico over the next two years to complement its existing LTE-M low-power wide-area network (LPWAN), offering customers an array of options to connect IoT devices. Read More → | | | | |
| | | ouTube announced steps it's taking to better position itself as a top destination for online news videos. The company will invest $25 million towards helping news publishers grow their video operations, and will also create a group of publishers to work on improving the news experience on YouTube. Read More → | | | | |
| | | Samsung has opened the world's largest smartphone manufacturing facility in India, Bloomberg reported Monday. The 35-acre factory will allow Samsung to manufacture 120 million mobile devices a year — nearly twice the amount that the company produced in India in 2017. Read More → | | | | |
| | | The first crowd investment in Germany was recorded in October 2011 by cognitive training website NeuroNation. Read More → | | | | |
| | | The Washington Post is testing a new tool, called Rhapsocord, that automatically identifies areas of a podcast where an ad could be placed and then automatically inserts ads into those spots, so that podcasters don't have to do it themselves manually. Read More → | | | | |
| | | Walmart has hired former American Express executive Janey Whiteside to serve as its first chief customer officer. Read More → | | | | |
| | | Square is withdrawing its banking license application, which it initially applied for last year. Read More → | | | | |
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| | | In this report, Business Insider Intelligence analyzes how emerging technologies like RPA and AI are transforming the wealth management industry, on both the front and back end, by increasing efficiency and opening up the space to new demographics. We explain how both incumbents and startups are applying these technologies to different business areas, and how successful they've been at implementation. Additionally, we take a look at the challenges wealth managers are facing as they look to revamp their businesses for the digital age. Learn More → | | | | |
| | | Business Insider Intelligence has put together a detailed report that explores the evolving prepaid card industry, identifies how issuers can maintain profitability in a market that's being challenged by new players and impending government regulations, and evaluates various paths to success. Learn More → | | | | |
| | | This report cuts through the hype to offer an overview of different types of AI, and where they have potential applications within banking and payments. It also emphasizes which applications are most mature, provides recommendations of how FIs should approach using the technology, and offers examples of where FIs and payments firms are already leveraging AI. The report draws on executive interviews BI Intelligence conducted with leading financial services providers, such as Bank of America, Capital One, and Mastercard, as well as top AI vendors like Feedzai, Expert System, and Kasisto. Learn More → | | | | |
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Amazon Prime perks driving Whole Foods app adoption |  | |
Cable companies will steal half of all wireless customer adds from US telecoms by 2020 |  | |
Social platforms drive live streaming video globally |  | |
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