Tag: innovation

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.

Durban's port may soon get a revamp, but it needs to learn from the best in the world. During President Cyril Ramaphosa’s State of the Nation address in February he assured the nation that Transnet was “currently focused on improving operational efficiencies” at the country’s ports, “through procuring additional equipment and implementing new systems to reduce congestion”.

The world’s population is predicted to grow to more than 9 billion by 2050 and the Food and Agriculture Organization (FAO) estimates that we will need to produce 60% more food to feed everyone, a huge increase that will undoubtedly take its toll on the planet.

According to the World Economic Forum, artificial intelligence (AI) can contribute up to USD 15.7 trillion to the global economy by 2030. However, in Africa, AI market growth has stagnated. Estimated at USD 870 million in 2021, with marginal growth forecasted until 2024.

In 2021, the global procurement as a service market was valued at approximately US$ 6.3 billion. Given that the market has a projected compound annual growth rate of 7% for the next 10 years, experts forecast that the market is likely to reach a valuation of US$13.3 billion by the end of 2032.

In a business world where opinions have to be formed at a rapid pace, there is often little time for reflection. Managers need to make decisions quickly, run meetings efficiently and drive innovation, so it seems counterintuitive to stop the clock and take time to think things through.

Innovations kept coming in 2022, and drives my choice of the year’s best tech. As consumers keep tightening their belts, manufacturers have to find new ways to convince them to go out and spend. As a result, the pace of innovation has speeded up, even as spending seems to slow down.

Because of its illiberal and authoritarian policies the choice of Qatar for the World Cup created a lot of controversy. A repressive dictatorship itself, Qatari police had their hands full going after people from countries who actually believed they had a right to freedom of speech. 

Embracing innovation, and rethinking service capabilities – these are part of a vast realm of possibilities that have been opened across Africa through adoption of e-commerce, and for tech start-up companies, the opportunities are endless. 

With digital transformation and rapid advances in technology meaning change in the market is swift and constant, businesses must keep up, or face being left behind. Agility is the key to business success and the healthcare industry is no exception.