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Insurance in the Millennial Era

That needs for insurance professional and consumers have rapidly changed in recent years. This blog contains articles for both insurance consumers and professionals in the "millennial era".

How Artificial Intelligence Will Dominate Future Markets

Craig Lebrau Craig Lebrau , 10/30/2017
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The world’s adoption of mobile technology is increasingly widespread. In the 18-29 year old market in America, there is already a saturation in ownership of smartphones, with a 92 percent prevalence. Amongst that, 86% use social media applications on a day to day basis. For the population aged 50 years and older, there are less users, but this is rapidly changing considering the 5% increase from 69 percent in 2015 to 74 percent in 2016. Needless to say, CBAP Certification Training will become increasingly more important as business management processes adapt to accommodate surging demand for mobile-friendly technology.

Adoption of artificial intelligence is most visible in voice-commanded personal assistants. Bixby, Siri, Cortana are three key personas.

iPhone users will not be unfamiliar with the female sounding voice assistant who initially came out as more of a gimmick with the release of iPhone 4S in October 2011. Apple initially bought the initial Siri team for a reported $150 to $250 million in 2010 and in the 16 months following, the personal assistant had multiplied her number of compatible languages, scaled to serve millions of people across several continents. IOS updates rendered the ability to reply answers in voice, whereas previously Siri could only type out responses.

Incorporation with third party services

While Siri could only interact with 42 different web services in 2011, its design as a ‘do engine’ has improved drastically. Apple CEO Tim Cook’s
$1 billion investment into Chinese ride-hailing phenomenon Didi Chuxing is indicative of the company’s vision to allow users to hail a cab straight from Siri, dramatically reducing the number of necessary steps to manually swipe and tap their way through to opening and implementing the application itself.


Google Assistant stands to leverage massively off the auto-making industry with a recent partnership between Volvo, Audi and Google indicative of a deeper integration of artificial intelligence software into the ‘infotainment’ ecosystem of car manufacturers. With a simple “Ok Google”, the Assistant can follow your instructions to “Play some Ed Sheeran”, to which the Android Auto operating system will curate a playlist to your soulful fancy. Hyundai and Jeep have already adopted Google’s product, based on the Android open source operating system re-engineered to run on smartphones and tablets in 2016. Retrofitting the Maserati Ghibli with a 15-inch tablet-esque screen, the ability to directly control the AC, heat and window-sliding was eye-catchingly shown off during I/0 conference unveiling in 2016.


Whilst not immediately connected to any mention of Artificial Intelligence, the American chip-maker produces Volta processing chips which are heavily incorporated in machines incorporating AI intelligence. It was, also, the
best-performing stock over the past year, with stock pricing up 192 percent in the past 12 months, compared to S&P 500’s 20 percent gain. This represents the best performance in the entire index, with global investment banking firm Jeffries indicating huge potential to outperform profit expectations in fiscal 2019 with a market riding on the popularity of Artificial Intelligence trends. Semiconductor analyst Mark Lipacis indicatively raised his price target for Nvidia shares to $230 from $180, representing a 17 percent gain over three days.