Myth: No one wants to talk to a machine. Reality: Millions of people are happily engaging with iPhone’s Siri, Amazon's Alexa and Google's Assistant. Every day, people are having their questions answered via customer service chatbots, both by voice and by text. Artifical Intelligence (AI) is powering these agents, which grow more sophisticated by the day. Gartner predicts that by 2020, AI will handle 85% of all customer service interactions.
We're at the dawn of a workplace revolution as automation and artificial intelligence are increasingly adapted into everyday work settings. What recently sounded like a far-distant science fiction future is actually a reality and knocking at our doors. McKinsey Quarterly talks about these advances and offers a A CEO action plan for workplace automation in its July edition.
Managing risk isn't a new concept - merchants in ancient days used to distribute loads across many vessels to protect against weather hazards and robbers; they would also band together to insure their goods through various mechanisms. But modern insurance really began taking shape in London in the 17th century. Fires were a devastating risk for businesses and homeowners alike. The Great Fire of London in 1666 destroying more than 13,000 houses.
If it seems like every week there's a new would-be insurance disrupter clamoring to knock you down and steal your agency's lunch money, you're not being paranoid. Venture capitalists have pumped more than $4.4 billion into insurtech in the last two years alone. But if you are looking over your shoulder at the insurtech startups, you may be looking at the wrong threat. While there is a profusion of start-up techs eager to transform the way people buy insurance, a new analysis by global management consulting firm McKinsey says that the main threat may lie elsewhere.
There are now 2.8 billion people on social media, according to a recent report by Tracx, who offers the perspective 2.8 billion is the total population of earth circa 1955! But with so many people online, how do you target your market? Which social media is better at reaching women? Millennials? Who spends the most time online? Check out this great infographic that breaks it all down.