Tag: human error

The adoption of accelerated, or automated underwriting, which uses advanced artificial intelligence and machine learning technologies to evaluate risk and underwrite life insurance, has been limited to date. This can partly be attributed to insurers cautiously rolling out automated decision-making, opting instead for small-scale improvements to risk frameworks.

Artificial Intelligence (AI) is taking the world by storm, especially with the latest tech hit, ChatGPT, going viral. If you haven’t heard of or tried ChatGPT, it’s a highly advanced AI tool that you can use to ask any question, and in return, it will provide you with an intelligent, well-written answer back - all within seconds.

Keeping your business finances in order needs a proper payroll system to avoid mistakes that come with payrolling. Whilst many small businesses opt for manual payroll processing spreadsheets or other basic tools that seem less cost-saving, they add on to more risks as the business expands and you add more employees to your payroll.

The social and economic impact of COVID-19 has led to a marked increase in opportunistic crimes of desperation, particularly in digital payments fraud as consumers flock to digital channels to replace or supplement in-person interactions.

Data and analytics are important sources of information to track any fleet. Modern fleet management solutions can help fleet owners stay informed about the condition of their fleet. They can also now make informed decisions through accurate reporting and ultimately, reduce unnecessary costs by eliminating human errors.

While most areas of a business have changed over the past decade, the hiring process for potential staff by HR departments has remained relatively the same. This, however, is set to change with the introduction of new technologies that will save companies money and valuable time that can be spent improving their core business.

Investors need to consider cyber preparedness in their investment decisions. Today, 100% of companies rely on the internet to operate, compared to the one-in-four 10 years ago, according to a study from Accenture.

Banks and financial service institutions (FSIs) come under pressure from government, shareholders, employees and customers as security risks increase during the pandemic. 98 percent of IT decision makers working in banks and FSIs in South Africa are under pressure to level up their security protocols, according to our new research.

The recent announcement that heavyweight Wall Street bank, JP Morgan Chase has agreed to buy UK Robo-Adviser, Nutmeg, indicates the far-reaching effects of COVID-19 on the financial advice and wealth management industry as big business embraces this new model.

Payroll solutions in South Africa must be modernised to benefit from the likes of cloud computing, robotic process automation (RPA), and artificial intelligence. If companies are to effectively contend with evolving payroll legislation in the country, they need to embrace these technologies and transform into digitally driven organisations.