Anyone who has lived through the last century change will appreciate the vast advances in technology during their lifetime. Mobile phones, home computers, DVD players, CD’s and even colour TV’s were alien concepts in most households just a mere 50 years ago. Alexa was a rather posh girls name and google the name for eyes that bulged! On entering the 21st Century, Encyclopaedia Britannica was relegated to dusty shelves as technological advances bought us quicker, faster results in a smaller, more transportable format. Just within the last decade technology has become more efficient and integrated into our everyday lives. Chatting with virtual technology everyday rather than to your neighbour, is now the norm.
Considering the vast changes in the last few years, as we hurtle towards the next decade, what awaits us? Will it be an array of exciting artificial intelligence with machine learning predicting our every move and smoothing out our lives for the better or will a more dystopian vision emerge? Could it be that we humanise our world with climate change domineering our goals?
In the realm of finance and insurance, harnessing aspects of the latest technology can be invaluable to both providers and consumers. As people conduct more research into the availability and costs of products online, machine learning can be invaluable in providing a good consumer experience. Whilst bots are busy harvesting our preferences, virtual assistants become more proficient at targeting our needs and ultimately help save us time and effort. What’s more, in our consumer journey we often jump between different devices and so tracking those preferences as we browse helps to keep everything on track.
Whilst in the past providers used broad-sweep polls and surveys to categorise us as consumers, largely in terms of age, income or postcode, bots are becoming more and more efficient at recognising subtle differences. Financial institutions now track spending patterns and provide recommendations to us in how to spend and save. Healthcare packages usually come with Apps to enable us to stay as holistically well as possible and monitoring our fitness can be done in multiple ways.
Tracking our habits ultimately helps providers to tailor products to our needs. As we start 2020, those who are ahead of the game in terms of technology, will win out. Millennials have now grown up and are the new target but in all reality, even baby boomers and the silent generation are as adept at digital research.
The key to much of the success of technological advances, however, comes from a very human viewpoint; trust. The greatest product on earth will not be successful if we as consumers don’t have confidence in it as reliable and worth our time and money. It is here that human contact wins out. How many of us have spent hours on comparison websites only to end up picking up the phone and having a chat before purchasing? It is that human reassurance that often wins out, which ultimately bodes well for a utopian vison where we work together hand in hand with technology to advance our progress in all areas.
To speak to a human for that reassurance when looking for a mortgage, home insurance or even health insurance then pick up the phone and call 01564 791 120 or click here to arrange a human to give you a call back – All of our humans are full experts in their fields.