Digital Twins The Next Human R Evolution That Will Disrupt The Financial Services Industry
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Digital Twins - The Next Human (R)evolution That Will Disrupt The Financial Services Industry by John Blicq Pdf
Thanks to three decades of technological exponential progress, Digital Twins and Digital Humans are quickly on the rise. Early signals suggests that a physical asset centric industry like Financial Services will be heavily disrupted by Digital Twins at scale. It will create new forms of customer needs, new growth corridors and new competitors will rise as the value will shift toward a more digital world. In such a world, Financial Services incumbents will need to adapt quickly to remain relevant. In this book the author provides an introduction to the concept of Digital Twins / Digital Humans and its impact on the Financial Services value chain. It is destined to inform key decision makers of this industry and help them prepare their organization to remain relevant for what will be the next human (r)evolution.
Handbook of Research on Applications of AI, Digital Twin, and Internet of Things for Sustainable Development by Mishra, Brojo Kishore Pdf
The rapid growth and capability of artificial intelligence, digital twin, and the internet of things are unlocking incredible opportunities to overcome some of the greatest environmental and social impact challenges currently facing the global community, such as feeding a growing population, safety, affordable housing, and environmental sustainability. The Handbook of Research on Applications of AI, Digital Twin, and Internet of Things for Sustainable Development provides an interdisciplinary platform encompassing research on the potential opportunities and risks of reaching sustainable development using artificial intelligence, digital twin, and the internet of things. Covering key topics such as big data, environmental protection, and smart cities, this major reference work is ideal for computer scientists, industry professionals, researchers, scholars, academicians, librarians, policymakers, practitioners, educators, and students.
Artificial Intelligence-Augmented Digital Twins by Abdalmuttaleb M. A. Musleh Al-Sartawi,Anas Ali Al-Qudah,Fadi Shihadeh Pdf
Presently, we stand on the threshold of a technological revolution that will drastically change the way we live, work, and communicate with each other. By the current rate, scope, and complexity, this transformation will be as fundamental for society as any other technological paradigm change from the past. The industries which are more susceptible to change are technologically oriented industries including banking, finance, accounting, and auditing. One of the technological concepts of the technological revolution is the concept of the digital twin. The application of digital twins and AI as paired with Internet of Things technologies makes it possible to solve ESG problems on a completely different level (Li, 2019) for accounting firms and financial institutions. These include recycling on demand, rational energy consumption, smart surveillance cameras for crime tracking, and smart branch parking solutions, monitoring the wear and tear and conditions of financial technology infrastructures. Moreover, numerous researchers and practitioners emphasize the significance of innovating sustainable business models and operations (Geissdoerfer et al., 2018). The digital twin will allow businesses and financial institutions to minimize costs, boost customer service, and find new ways to generate revenue. DTW is accessible now more than ever, and many reputable and innovative companies such as Tesla, Ericsson, and Siemens have adopted it with varying success. Therefore, this book examines the opportunities, challenges, and risks of artificial intelligence-augmented digital twins for financial operations, innovation, and sustainable development. It focuses on AI and digital twin technologies to furnish solutions for the current industrial revolution including the Metaverse. Henceforth, this book aims to encourage authors to submit multi-disciplinary chapters indicating the current scholarly challenges about the applications and potential of artificial intelligence and digital twins in accounting, finance, and banking.
Digital is far-reaching and ubiquitous - everything you know is about to change. We are living in the fourth age of humanity. First, we became human. Then we became civilized. The third age saw the creation of commerce. Now, we are becoming digital. Technology has changed the way we communicate, trade, and transact, with repercussions extending far beyond our personal spheres. Digital Human is a visionary roadmap for the future, a timely guide on how to navigate the world of finance as we create the next generation of humanity. It explores the digital evolution’s impact and offers clear insights on thriving in this new era. Human and business relationships are evolving, and existing businesses must undergo substantial transformative changes to compete with the smaller, “lighter,” and more agile companies that are able to quickly maneuver to match shifting consumer demands. A lack of online presence has become unthinkable, as consumer preferences continue to trend heavily toward online business and transactions—is your company equipped to thrive in this new era? While there is no definitive guide to this new reality, this insightful resource provides the starting point and roadmap to digital success in the financial services arena, covering aspects such as: Digital is not merely a “bolting on” of technology to produce results faster and cheaper, but a complete rethinking of common business practices and notions of efficiency and customer engagement Rethinking business starts with the customer - new business models are constructed entirely around this single, guiding principle A digital business model is all about connectivity, with front-office apps tied in to both back-office analytics and marketplaces with many players and segments Businesses must open their operations to this marketplace of players through APIs, necessitating a conversion of many core systems Central business and technology systems must change to adapt to new market entrants and new technologies that range from AI for back-office analytics to Distributed Ledger Technology (DLT) for global operations Leaders must rethink their businesses to be fit for the future digital age, and this comprehensive resource shines a spotlight on the key elements to this transformation.
The Fourth Industrial Revolution by Klaus Schwab Pdf
World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress.
Author : Michael R. King,Richard W. Nesbitt Publisher : University of Toronto Press Page : 443 pages File Size : 46,8 Mb Release : 2020-08-26 Category : Business & Economics ISBN : 9781487533144
The Technological Revolution in Financial Services by Michael R. King,Richard W. Nesbitt Pdf
The financial services industry is being transformed by heightened regulation, technological disruption, and changing demographics. These structural forces have lowered barriers to entry, increasing competition from within and outside the industry, in the form of entrepreneurial fintech start-ups to large, non-financial technology-based companies. The Technological Revolution in Financial Services is an invaluable resource for those eager to understand the evolving financial industry. This edited volume outlines the strategic implications for financial services firms in North America, Europe, and other advanced economies. The most successful banks, insurance companies, and asset managers will partner with financial technology companies to provide a better and more innovative experience services to retail customers and small businesses. Ultimately this technological revolution will benefit customers and lead to a more open and inclusive financial system.
Author : Luigi Wewege,Michael C. Thomsett Publisher : Walter de Gruyter GmbH & Co KG Page : 138 pages File Size : 51,9 Mb Release : 2019-12-02 Category : Business & Economics ISBN : 9781547401598
The Digital Banking Revolution by Luigi Wewege,Michael C. Thomsett Pdf
Emergent innovative financial technologies are profoundly changing the way in which we spend, move and manage our money, unlike ever before, and traditional retail banks are facing stiff competition. The global financial crisis in 2007–2009 led to large losses, and even the collapse of a significant number of established banks shaking the trust of financial customers worldwide. The Digital Banking Revolution is an insightful look at how financial technology and the rapid rise of financial technology companies have brought welcome changes offering flexibility to the banking industry. The book offers a unique perspective on the consumerization of retail banking services. It delves into the many changes that financial innovations have brought about in banking, the main financial disruptors, the new era of "banking on the go," and financial innovations from countries around the world before concluding with a discussion on the future of banking including optimizing structures, new strategies for business outcomes, and human resources in the digital era.
The Future of Finance by Henri Arslanian,Fabrice Fischer Pdf
This book, written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, is a glimpse on what the future of the financial services will look like and the impact it will have on society. The first half of the book provides a detailed yet easy to understand educational and technical overview of FinTech, artificial intelligence and cryptocurrencies including the existing industry pain points and the new technological enablers. The second half provides a practical, concise and engaging overview of their latest trends and their impact on the future of the financial services industry including numerous use cases and practical examples. The book is a must read for any professional currently working in finance, any student studying the topic or anyone curious on how the future of finance will look like.
Author : Michael R. King,Richard W. Nesbitt Publisher : University of Toronto Press Page : 443 pages File Size : 44,8 Mb Release : 2020 Category : Business & Economics ISBN : 9781487506025
The Technological Revolution in Financial Services by Michael R. King,Richard W. Nesbitt Pdf
Industry specialists and thought leaders explain how financial services will evolve in the coming decade in response to heightened regulation, technological disruption, and changing demographics.
Human Enhancement Technologies and Healthcare Policy by Jacek Klich Pdf
Human enhancement (HE) is considered one of the most profoundly impactful effects of the Fourth Industrial Revolution. This book presents the definition, theory, scope, and main challenges of HE from a health policy and healthcare systems perspective. It offers a comprehensive view of the consequences of human enhancement disrupting the status quo in health service delivery and social coherence. The book examines the latest achievements of HE, focusing on four forms of enhancement: cognitive, physical, mood and moral. These forms are supported by the list of specific technologies and techniques used for HE. The book identifies the current trends in HE's development and analyses the challenges that HE poses to health policy and healthcare systems. It discusses the legal and financial aspects of HE, including regulation and shows that the financing of HE goes far beyond the scope of universal health coverage, thus opening the door for private, voluntary insurance and/or out-of-pocket payments. This, in turn, leads towards growing inequalities, which may threaten social cohesion. Readers will receive a structured picture of the latest advances in HE and trends in the field, as well as a list of the challenges and problems that HE generates. The book offers a concise picture of HE for students and researchers across the political sciences, public health, public sector management, and sociology. It will also find an audience among healthcare managers, policymakers, and those who are interested in social change.
The Digital Banking Revolution by Luigi Wewege Pdf
Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.
The Digital Twin 2.0: The Future of Technology and Business offers an enlightening journey into the world of digital twins, a disruptive technology redefining how industries operate. This book sheds light on the next generation of digital twin technology, providing a comprehensive look into its potential to transform the business landscape. In this insightful guide, readers will discover the advancements in digital twin technology, from bridging the physical and virtual worlds to fostering real-time simulations, predictive analytics, and AI-driven insights. It explores how this cutting-edge technology is revolutionizing sectors like manufacturing, healthcare, and urban planning, while also examining its profound implications for business strategy, operational efficiency, and innovation. The Digital Twin 2.0: The Future of Technology and Business is a must-read for technology enthusiasts, business leaders, and anyone intrigued by the intersection of technology and business. It offers a deep dive into the workings of digital twin technology and anticipates its future trends, challenges, and opportunities. This book is your gateway to understanding how digital twins can redefine the future of technology and business.
The Digital Banking Revolution by Luigi Wewege Pdf
Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.
The Changing World of Mobile Communications by Petri Ahokangas,Annabeth Aagaard Pdf
This open access book from the world’s first 6G Flagship research program at the University of Oulu, Finland, provides a multi-disciplinary and insightful overview of the subject, with contributions from experts in the field. Today’s fourth generation of mobile connectivity services (4G) are available everywhere, and adoption of fifth generation (5G) networks is well underway. Compared to 4G, 5G has already brought about new business opportunities and enabled seamless virtual and augmented reality services, but also raised serious concerns on data privacy and security and the use of artificial intelligence. The sixth generation (6G) networks are already in R&D phase aiming at deployment in 2030. We need to understand today what 5G evolution and 6G may bring for the future of service delivery and how they will influence us. The contributions answer what 5G, its evolution, and 6G will be about; what kind of impacts 5G and 6G will have on future digital services, businesses, and society; how we could benefit from 5G and 6G innovations; and how 5G and 6G should be regulated in the future. Future 5G evolution and 6G are not only about moving toward faster, better, and more secure networks providing the basis for innovative digital services, they are also going to bring about a huge digital disruption that will affect all levels of society. This book will be of great interest to academics and students of management, telecommunications and digital innovation, as well practitioners and policymakers looking to the future of business.