Tag: big data

Our recently released study takes an in-depth look at the state of innovation in South Africa specifically, however the study indicates that even though the majority of South African companies are expecting to be disrupted by innovations in their industries over the next three years, half of them are not prepared to cope with it.

Systematic investing is a scientific, evidence-based approach that takes the emotion out of investing and allows for better investment outcomes as decisions are based on rules. This mathematical approach offers more science and less art; has a higher success rate; is more predictable and generates higher returns for investors, with lower fees.

Digital transformation is changing the ways businesses operate throughout the world. New technologies like cloud computing, artificial intelligence (AI), machine learning, and predictive analytics, already have had a profound impact on the world’s economies and continue to disrupt industries.

At the start of 2020, the South African economy was already on the back foot. GDP shrank 1.4% quarter-on-quarter in Q4 of 2019, following a contraction of 0.8% in Q3. That was even before COVID-19 had arrived. The Moody’s, Fitch and S&P rating agency downgrades in March and April all signalled that the South African economy is in for a rough time over the next year at least.

Turning company data into an asset is critical, it gives business leaders unprecedented insights. Data offers numerous opportunities across all industries, from healthcare to manufacturing to financial services, to name only a few. Most companies own loads of data and for it to be useful, it is imperative that they ensure that it is clean data.

Changes in the way customers expect to engage with the financial services sector and increasing pressure from regulators is compelling financial services companies to come up with innovative ways to manage their data. Financial services businesses view information/data as a significant corporate asset.

The impact of digitisation on small and medium enterprises is significant. Savvy SMEs can turn this to a huge advantage as they can do things quickly and in a more agile manner than big businesses. However, challenges abound when trying to protect innovative products and processes.

The task of re-skilling millions of workers may feel overwhelming. By 2022 alone, 75 million jobs will probably be displaced across 20 major economies, while 133 million new ones will spring up in industries that are only just gaining traction. At the same time, it’s estimated that nearly two-thirds of children who started school in 2016 will go on to have jobs that don’t yet exist.

Research shows that insurance executives are recognising the opportunities associated with big data. Of course, they are no stranger to the importance of data analysis given how the industry is built around understanding market requirements and developing solutions accordingly.

Bank hackers, email phishing scams and identity theft are synonymous with fraud in the financial sector. According to a statement by the South African Banking Risk Information Centre (SABRIC), more than R 800 million were lost over the last couple of years in South Africa due to fraud.