Mankind’s quest for Artificial Intelligence [AI] has driven development from times immemorial. It dates back to the architectural astronomy instruments in India to Abacus of Mesopotamia; from mechanical triggering of medieval cannons in China to the emergence of the big World Wide Web; and finally to the 21st century when Internet of Things [IoT], Blockchain, Robotics and AI are finally a reality. It’s a marvel to construe that machines of today can actually learn, improve over a period of time with an in-built self learning capability.

Image Source – AI in Banking

AI not only refers to a specific software algorithm but a broad spectrum of capabilities of machines that have cognitive functions, which include speech recognition, machine translation, file reading from a machine, fraud detection prediction, learning and predicting trends and natural language processing.  A recent report suggests that globally over $1 trillion of today’s financial services cost structure could be replaced by machine learning and AI.

Financial institutions worldwide have always been at the forefront of adopting new technology. Closer home, in India, recent reports published by Accenture suggest that around 83% of Indian bankers believe that AI will work alongside humans in the next two years, which is higher than the global average of 79%. 

Lets delve deeper into how AI in set to transform Banking and Insurance of the future. Focus on the how AI would be integrated into BFSI, the many benefits and use-cases to substantiate how the ecosystem would evolve. 

Customer Service Chatbots

Smart virtual agents or chatbots elevate the customer experience to a new level by providing real time round the clock service with natural language to perform day to day transaction. They anticipate customers unique transaction needs and recommend the right insurance policy or right portfolio for investment in fraction of a second, with quick ability to deep dive into the data models. This gives customer personalized services experience and increased customer satisfaction.

Customer & Business Audio Bots

A case in point, is a customer greeted by EVA from Emirates NBD [leading bank in UAE], a audio bot. This is a new face of banking where audio bots are taking over in a quick and efficient way to provide information. Bots can run query much faster and provide results to the customer objectively, without any  emotions attached to it.

There is a growing demand for audio bots within businesses. In a typical scenario, a CEO can be remotely assisted by an audio bot to provide him sales performance data of a branch or a zone, provide instant details about top performers, top claims paid or on business forecast for the year.

Virtual assistants can manage the low-value activities of advisors, such as lead management, scheduling, planning, licensing, etc., enabling them to focus on building skills and providing value-added services.

Companies have transformed from conventional password and I-pin methods to voice recognition with the help of voice prints to automate the process. Face recognition to ascertain account credentials are becoming a norm.

Customer Insights and Risk Management

Risk management is one of the largest opportunity for leveraging the full potential of AI. Using AI in Banking it is possible to sieve through different data sources such as credit scores, financial data, spending patterns help to determine risk scores of a customer, based on his or her nationality, occupation, salary range, experience, industry and credit history. Moreover, AI can be used to reduce the strain of regulatory compliance and to overhaul the way banks/insurers detect financial crimes and frauds.

Similarly in Insurance, risk scores can be very helpful in underwriting policy and adjudicating claims for a individual on basis of various parameters. It could be based on data models during the on-boarding of a customer, agent or a claim risk propensity can be calculated and early warning signals can be triggered.

AI systems can be used to perform research, aggregate, refine and present required information to underwriters, allowing them to focus on core underwriting activities.

In summary, the benefits of AI

Enhance operational efficiency, improve time-to-market, enable a more intelligent way to sell and service, and more. During the last five years, industrial use of AI – in terms of interest, investment, ideation and implementation – has risen exponentially.

The proof of the pudding is in the eating. This can be validated through how a leading health insurance startup leveraged AI by using data and software to build clinical profiles of people to identify gaps in care. These gaps in care were filled with visits and free choice of doctors for patients to avoid costly hospital stays.

Similarly, a life insurance startup used AI to generate quotes for accident death claims which simplified sign-up in less than 2 minutes. There are several such instances that fortify AI as a technology that would revolutionize businesses and the world at large.

About the author

Snehal Desai is the Global Sales Head – Insurance at 3i Infotech Ltd. More details about him can be found here

Lead generation is the process of attracting and converting strangers and prospects into company’s product or service and it describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing sales pipeline. Prospects can come in the form of names and addresses, names and phone numbers, email addresses and fax numbers.

Why Lead Generation is Important ?

Lead generation is the fundamental way to provide channels of revenue into any company. In order to effectively make sales, you have to have qualified leads and it is incredibly important in keeping your sales and marketing pipeline alive. Lead generation is a win-win for both the buyer and seller.

Following are the 7 Essential Steps that marketers can use to Improve B2B Lead Generation.

Developing Better Marketing Content – Every content marketing strategy starts with the goal. How are you going to measure the success of your campaign? Is it with traffic? New subscribers? Social shares & engagement? Sales? Your content should be integrated in such a way that it helps you achieve your organizational goals. A content marketing strategy is a road-map that not only tells you what you are going to create, distribute it, and ultimately how to use it to attract and convert readers into buyers.

Greater Personalization – Marketing is all about delivering valuable information about a product or service at the right place and the right time. Personalized marketing is a strategy of its own that you can integrate into your different types of marketing mediums to generate better results. The main benefit of personalized marketing is the ability it gives you to reach specific audiences or prospects.

Personalization depends on

  • Demographics – Age, gender, location, career and more. This also includes their problems, needs, and wants.
  • Behaviors – Data includes the type of content they digest, where they spend their time, how they shop, what kind of information they are looking for.
  • Sources – Defines how your leads find you, or how you are generating and acquiring new customers. Is it campaigns you run? Referral programs? Social activity?

Create irresistible lead magnets – A lead magnet is a tool that you use to incentivize potential leads to interact with your brand. In other words, you’re trading the valuable piece of content for something you want, like the user’s email address. The best lead magnets offer value far and beyond what you might post on your blog. Ideally, they’re immediately useful for your target audience. Whatever you choose, make sure you can pinpoint its value during the lead-generation process.

Some of the most effective lead magnets include the following

  • E-books
  • In-depth case studies
  • Tools and calculators
  • Free demos for your app
  • Free trials for your software
  • Report or white paper

Link your Call To Action [CTA] to a dedicated landing page – The call to action is a core component of B2B lead generation. Call to Actions may have changed over the years, but the goal hasn’t changed: Put the right message in front of the right people at the right time.If you focus on your email newsletter to educate customers, including the call to action is a great opportunity to present them with relevant offers to generate leads and Website visits. Linking your call to action to the exact landing page will improve your customer engagement and number of leads.

Creating word-of-mouth referrals – Word of mouth marketing is not just about creating a message it’s about delivering real human experiences to the masses. Word-of-mouth marketing isn’t easy, but with a little tactical planning, any business can create a real buzz in their local community. According marketing survey 92% of prospects trust referrals from people they know or their relatives, and 80% of consumers are more likely to buy a new product when learning about it from friends or family.

Be Active on Social Media for lead generation – With recent updates, many social media platforms are becoming more important than ever.  Creating great content directly to your followers is one of the easiest ways to gather detailed information about prospects using social media. Social media is great for not only spreading brand awareness but also converting followers into leads. Believe it or not, the tools you already use to establish and promote your brand can become B2B lead-generating machines.

However, don’t discount other social platforms, including the following:

  • Facebook
  • Twitter
  • Pinterest
  • YouTube
  • Instagram

Chat with your users with live chat – Going live is a great way to directly interact with your prospects or customers and engage with them in real-time. By answering questions and generating awareness about your products or services, live chats give you the opportunity to position your brand as an expert in the industry. You can also drive cross-channel traffic by directing participants to branded content, creating promotional images or banners, landing pages, and offerings.

Final Thoughts

Lead generation is essential for all businesses that wish to drive higher profits and ROI. It plays a role in every business’s marketing strategy. The lead generation funnel allows brands to reach their best leads, nurture that interest, and capture necessary data before delivering truly qualified leads to sales. Hope these tips will increase the effectiveness of your outreach effort.

About the Author

Michael Anthony works as a Content Marketer for USAExeList, a high-end B2B Email Lists provider based in Addison, Texas. He has been promoting high-quality content in select niches for his clients.

As India gears up to prepare for the next leap in GST compliance – the e-Way Bill, it is time to find out how technology can simplify e-Way Bills for your business. The obvious question on your mind is, ‘Will e-Way bill impact my business?’

Image Source – Eway Bill

The answer is yes, by and large e-Way Bill will impact your business. Whether you run a big or a small business, are registered or not registered, e-Way Bill will be applicable to you in one way or the other. Since e-Way Bill is a GST compliance mechanism, you must become familiar with it.

What is an E-Way Bill?

E-way Bill stands for Electronic Way Bill. An E-Way Bill is generated by the person causing movement of goods in the e-Way Bill portal. It has to be generated for transporting goods worth more than INR 50,000 by any mode of transport.

The e-Way Bill is usually a unique bill number generated for the specific consignment. Any registered business, transporting goods in their own vehicle, hired vehicle, railways, by air or by vessel, the supplier or recipient of the goods should generate E-way bill.

Let the right technology manage e-Way Bills for you

Avoid repetitive activity

The details that are required to record a transaction and generate invoice are required for generating the corresponding e-Way Bill as well. Why would you want to spend time to re-enter all the details again in the e-Way portal? The software you use should help avoid this repetitive activity.

Flexibility

You must be able to record transactions in your software, and export the details together for the purpose of generating e-Way Bills in the portal. This must be possible the other way round as well, i.e., in situations where you have recorded transactions in the portal first to generate e-Way Bills.

Do you have to re-enter the details again in your software to record the transaction? No. The right software will let you switch between systems. From portal to your software, and vice versa.

It is not always possible to generate an e-Way Bill as soon as you have recorded a transaction. You might be supplying goods a few days later. Sometimes, your transporter might not be ready with the vehicle. You need flexibility to generate e-Way Bills any time. Ideally, you must be able to generate e-Way Bills while recording a transaction, or after recording the transaction. You must be able to generate e-Way Bill for a single invoice, or for multiple invoices together.

Ensure compliance

Depending on the nature of your business, you might be recording transactions for transporting goods frequently. How will you keep track of transactions of value more than Rs. 50,000 for which it is mandatory to generate e-Way Bills? Let your software do that for you. Imagine cases, where there are hundreds of transactions recorded.

Print invoices with e-Way Bill Nos.

In a fast-paced business environment, where you are paying money to transporters for moving your goods, time is valuable. Your software must let you print e-Way Bill Nos. on invoices in a short span of time. You can handover the prints to your transporter who needs to carry the documents while transporting goods for compliance purpose.

Manage exceptional cases

What if the vehicle in which your goods are being transported breaks down. You must be able to track the particular invoice quickly and easily in your software, and generate a fresh e-Way for the same from the portal.

Business situations can be unpredictable too. If your supplier is unable to generate an e-Way Bill, you must be able to do quickly. If you make purchases from unregistered dealers, you should be able to generate e-Way Bills on their behalf in your software.

Generate and print consolidated invoices

The commercial tax department allows invoices to be grouped based on mode of transport, vehicle nos., place of supply or State and generate a consolidated e-Way Bill to make life easy for the transporters.

Your software must firstly let you generate individual e-Way Bills for each invoice. It must let you group these invoices as per your preference and then generate a consolidated JSON file of the same which could be uploaded in the portal. The e-Way Bill portal will then generate a single e-Way Bill for the consolidated invoices.

About the Author

This article has been authored by Tejas Goenka, Executive Director, Tally Solutions

The evolution of digital technologies such as Social, Mobility, Analytics and Cloud [SMAC] is having a significant impact on IT within enterprises. By 2020, a staggering 20+ billion connected devices will be in place, which would be about three times the size of the current world’s population, enabling us to crave for a perfect synchronization with just about everything around us. You will need to decide if you are one of the early adopters of technologies that will drive your business just ahead of your competition, working with the newest and most advanced solutions and leaving your competition to play the catch-up game.

Image Source – Digital Transformation

Transformation today begins with digital Infrastructure and data is the key theme within the orchestration layers of digital infrastructure. Enterprises have been accumulating data and literally have not even come close to exercising the real worth of it. Empowering business with actionable information can fundamentally change the way business can operate and transform. Here is where automating managed services operations will accelerate digital transformation journey within an enterprise.

So what are the areas one can possibly apply intelligent automation within the IT operations framework? Let’s look into the top three areas where automation is already underway.

Automating Service Desk Operations – We need to re-look at how enterprises engage service desk for end-user support. With digital transformation accelerating at very high speed, information technologies are changing rapidly in the way businesses are getting done today. With rapidly changing technologies there are high turnover of services desk engineers that leads to lack of knowledge and experience.

This leads to high risks and low quality of services. Besides providing a 24×7 support takes a toll with the costs going north. Enterprises can look into building AI/RPA into their service desk support operations. In fact, with roughly 30-40% of Level 0/1 services desk support cases being repetitive, you can leverage the power of Natural Language Interpretation [NLI] and cognitive automation in the form of AI bots. AI powered RPA and cognitive automation are quickly becoming the main driving force for digital transformation today. Traditional service desk and being transformed to Digital Service Desk providing end users the flexibility to talk to someone anytime from anywhere with 50~70% reduction of costs to handle each incident.

Automating IT Operations Management – Modern enterprises that are adopting Hybrid-IT will need a solution that will allow them to discover everything they have in real-time. Auto-discovery of IT assets and complete visibility of all your IT resources, no matter where they are will also require automation in management of incidents.

Automation in streamlining the process of creating and managing incidents, as well as notifying the right teams with correlation between the resources in real-time basis, it becomes even more important on how you handle the false positives from here on. Escalation and alert on critical events to ensure rapid problem resolution and consistent service performance will lead to meaningful insights to providing the actionable information to the CIO organization to better manage the business of IT today.

Integration of RPA/AI in IT Operations Management – The network operations center or the digital command center [as I would like to put it in today’s scenario] is the focal point for a 24×7 IT Infrastructure /Application and Data Monitoring and Management. With everything-as-a-service, connectivity becomes the principle driver for any digital journey. Ensuring health of these connected devices to ensure 24×7 availability is the key element for a greater customer experience [CX].

Enterprise will need to plan to bring in RPA that will perform health check [including security checks] of systems & applications and take corrective remedial actions to ensure the environment performs giving the experience that is needed. Automation on service requests post work-flow approvals coming out of IT service management needs to be automated.

Robotic process automation [RPA] is the important step in the evolution of new business models since it significantly reduces the need for IT service agents to perform routine, rule based, high volume activities, enabling them to instead focus on more innovative ideas.

Thinkers, enthusiasts, market researchers and many others place 2020 and 2025 as an important milestone in the coming years. Is this because of ‘conversational‘ banking, ‘self-driving‘ vehicles, and ‘drones‘ to deliver packages? You are talking to ‘robo-advisors’ on market trends and investments, ‘cognitive‘ coach on your phone designing your next day diet based on your previous days workouts and the list keeps adding up. To make all this a reality, enterprises that develop or adopt such innovation must have their IT Services automated to handle the kind of demand in implementing Hybrid IT in their journey of digital transformation.

About the author

Nilesh Gupta is the VP & Global Head – Digital Infrastructure Management Solutions & Strategy, at 3i Infotech Ltd. More details about him can be found here

The most popular questions in the technology world today is most definitely the one on whether Hashgraph is better than Blockchain. The life and credibility of the Blockchain is being questioned and Hashgraph is being predicted as the technology of the future.

Image Source – DLT

While it is difficult to predict whether Blockchain is a thing of the past and whether Hashgraph is the final answer, one thing is sure, Hashgraph definitely addresses a lot of the critical challenges that Blockchain has been grappling with, the challenge of speed of processing, the challenge of fairness, and the huge challenge of requiring multiple industry regulators to come together

Hashgraph can process 250000+ transactions per second as opposed to Blockchain’s 7 transactions per second.  Hashgraph is fast because it uses Gossip protocol to spread messages to the network and also performs some optimization of the gossiped messages to reduce the communication overhead.  One other reason behind this speed of Hashgraph is because Hashgraph today uses private, permissioned networks.

Coming to fairness, the main challenge of Blockchain is its dependence on miners.  There could be forking and delay because of the actions of the miners, who can manipulate the process.  Since Hashgraph is based on consensus and time stamping, it’s faster and more accurate.  The Virtual Voting Consensus Algorithm of Hashgraph, which was invented by Dr. Leemon Baird, makes it straightforward to know how a node would vote and this data can be used as an input to the voting algorithm and to find whichever transactions have reached consensus quickly, thus making it more fair.

According to me, one of the biggest challenge for Blockchain to be a commonly used technology, is the need for multiple industry regulators to come together and set regulations which will cut across industries. As I have said before also, a Blockchain, or for that matter any DLT is beneficial only when the chains are big or integrated to each other. While it’s not really a technical challenge, given the water tight compartments of today, it’s an enormous roadblock to overcome for a DLT. Hashgraph is planning to overcome or partially address that challenge by way of their 39-member council.  If run properly it will take care of enabling cross-industry discussions and regulations.

Added to this, Hashgraph’s security is also claimed to be better than that of Blockchain.  Hashgraph has been proven to be fully asynchronous Byzantine. This means that it doesn’t make any assumption about how fast messages are passed over the internet and this makes it resilient against DDoS attacks, botnets, and firewalls. While the security in Blockchain was never a challenge, the Byzantine Consensus of Hashgraph makes it stronger.

While Hashgraph does seem to have quite a few advantages over Blockchain, we cannot say that Blockchain is a thing of the past and Hashgraph is the new technology of the future.  I can only predict that Distributed Ledger Technology [DLT] is the way to go, but whether it will be Blockchain or Hashgraph or Tangle or any other DLT, only time can tell.  They are all evolving and evolving very fast.  As Distributed Ledger Technologies move beyond the POC stage to actual implementation stage, we will see even faster evolution.  So it’s very hard to predict which DLT is here to stay because tomorrow is truly another day!

About the author

Mohua Sengupta is the EVP & Global Head at Services at 3i Infotech Ltd. More details about her can be found here

Awareness around crypto-currencies is at an all-time high. More people know about these digital currencies than ever before. With the crypto-craze at its height, an increasing number of people are putting their money into cryptocurrencies! However, with the rise in the interest around cryptocurrencies, there has also been a rise in cryptocurrency related scams and fake coins which are created solely for the purpose of scamming investors.

Investors need to be alert about certain facts pertaining to the currency that they are about to invest in. These facts help them realize if the currency is a legit investment opportunity or is it a scammers ploy to steal the money from the investors.

How To Pick The ‘Right Currency’ For Your Crypto currency Portfolio

There are a number of questions that one needs to ask out loud before they invest into a cryptocurrency. The answers to these questions help an investor determine if the currency that they are about to invest in is a legit cryptocurrency or just another crypto-related scam.

Does This Cryptocurrency Solve An Actual Problem?

The first question that one needs to ask themselves is that does the currency that they are about to invest in solve a real problem? Is there truly a ‘need’ for this cryptocurrency? If the currency does propose a problem to a real-world challenge, do you believe that the currency would be able to solve this problem? If the answer to most of these questions is negative, you might just want to avoid investing in the currency.

Read The Whitepaper, Carefully!

Every major and legitimate currency has a whitepaper that details out the plans for the currency as well as the vision behind the creation of the currency. First off, if there is no whitepaper, it is an immediate red flag. Moreover, the goals that are mentioned in the whitepaper need to be realistic and attainable! If the whitepaper seems too good to be true, there is a chance that the currency may be a scam.

Who Are The People Backing This Currency?

Another question that one needs to ask is – who are the people who have supported the currency in the past? Sometimes, for credible cryptocurrencies, you will be able to find multiple industry experts having commented on the currency. Moreover, at times, the credibility of the founders too, tends to play a major role. One needs to check out who the creators of this cryptocurrency are – and are they members of the fin-tech industry, do they have a presence on the internet, providing expert opinions.

Moreover, one also needs to check out the social media profiles of the founders and the promoters of the cryptocurrency they are about to invest in. Sometimes, scammy cryptocurrencies make use of fake and stock images and made-up names to promote their currency. A little research on social media can help investors ensure that they are investing in the right currency.

Sentiment Analysis of the Currency

‘Sentiment Analysis’ is basically the understanding of the kind of conversations that are happening around the currency you are about to invest in. Checking out the social media pages or communities such as Reddit should give you a better idea about the conversations around the currency that you are willing to invest in. If the conversations around the currency are positive and optimistic, it indicates a strong bull-run may be coming in the days to follow. However, if the conversations are negative and the currency is caught in various controversies, it may be best advised to stay away from it.

Performance in the Past

Before investing in a cryptocurrency, it is always advised to check out the past performance of the currency. While it is rarely an indicator because prices can rise at any point of time – however, a consistently bad performance can be a clear indicator of the fact that the currency that you are investing it may not be a good choice – as the prices can continue to fall. A trend-analysis of the currency’s price-movement can help determine if it is the right currency or the right time to invest in it! You can also go through crypto guides at CryptoGround for better knowledge.

In addition to the price performance, another thing that needs to be checked out is the market capital of the currency. If the market cap of the currency tends to fluctuate a lot, it might not be healthy for a long-term investment. Currencies which show a stable growth or have a stable market cap are the best advised currencies. Moreover, the older the currency has existed, the more trusted a name it is likely to be!

About the Author

Prince Kapoor is a Freelance Marketing Analyst and Blogger. While not working, you can find him in gym or giving random health advises to his colleagues which no one agrees on :). If you too want some of his advises [on health or on marketing], reach out to him at @imprincekapur

Cyber Security has always been discussed but never given the importance that it deserves in the boardroom. However the situation seems to be changing post 2017, which saw cyber breaches of global scale and magnitude. Myths such as – only Information Technology companies are prone to cyber attacks and that fairly advanced nations like the United States and United Kingdom would be the main targets of hackers whereas countries like India would not be victims – were broken. It is time to address cyber security as a business risk, and not just a technology problem.

Image Source – Cyber Insurance

2017 saw hackers take down a Power Grid in Ukraine, ransomware attacks like WannaCry, Petya and NotPetya caused business interruption at ports, hospitals in UK were made to turn down patients since they lost access to their systems and the Equifax breach led to the data of 143 million customers – a number higher than Mexico’s total population – being compromised. Mondelez Inc., the world’s second-largest confectionery company, said its quarterly revenue growth would be reduced by 3 percent due to a recent global cyber attack.

India too was put on the global map after becoming the third worst hit country from the WannaCry attack, with more than 40,000 computers being affected. An Indian food startup’s breach was the biggest globally in the first half of 2017, compromising data of 17 million users. The list just keeps growing.

The thing about cyber risk is that it is evolving at a pace which most companies will find hard to keep up with; attacks are getting more sophisticated – from distributed denial of service attacks to ‘man-in-the-middle’ attacks, the risk just keeps changing.

The popularity of crypto-currencies and their characteristics which prevent them from being traced back will only fuel further ransomware attacks in the future.

According to a recent report published by McAfee, the total cost of cyber crime globally is USD 600 billion, or 0.8% of global GDP. With the EU GDPR becoming effective in around two months, several global MNCs will be liable to report breaches within a set time frame and may be liable to penalties going as high as 4% of their global turnover, the cost of data breach is bound to go up.  As I write this, a fresh probe has been requested by the European Commission, asking data protection authorities to investigate Facebook’s data leak to data-profiling firm Cambridge Analytica, which uses psycho graphic profiling to change behavior, and may have used the data of 50 million Facebook users to help bolster Donald Trump’s presidential campaign in 2016.

The increasing frequency of breaches and the costs associated with it demonstrate the need for companies to purchase cyber insurance. Let’s be clear, cyber insurance will not help a company prevent a cyber breach, but it will help it survive one. The amount of loss due to cyber attacks and its spiraling effects cannot be under-estimated. A typical breach would require the company to hire forensic experts to investigate into the breach and recover its lost data, appoint lawyers to communicate the breach to the regulators, customers and other stakeholders as per regulations.

Service of a public relations expert may also be required in order to handle the press and other media. All of these expenses can make a huge dent in the company’s bottom-line, especially to the small and medium enterprises, which may not be able to afford such costs. A standard cyber insurance policy would provide cover for all these costs, and further covers such as cover for business interruption, fraudulent fund transfer, PCI-DSS may be purchased depending upon the risk profile and needs of the customer.

The ever evolving nature of cyber risk poses an even bigger challenge for insurers, as they will have to work towards providing a wholesome risk mitigation product to customers. Such a product would help them not just cover the costs associated with a breach, but also help them improve their cyber security, provide vulnerability assessment and penetration testing services, and most importantly help educate their customer’s employees about threats such as phishing,  ransomware and others – since humans are still the weakest link in cyber security.

About the author

Sanjay Datta is the Chief underwriting, Claims & Reinsurance Head at ICICI Lombard. More details about her can be found here

After receiving his degree in Electronic Engineering, Summit Shah expanded on his work to become one of the most successful technology experts and authors in the industry who has made many accurate predictions about the future of technology and IT. Technology experts are always in high demand and should see a continued level of growth in many areas as the success often achieved by experts in the technology field has expanded to include a range of new industrial sectors growing at a fast rate.

Image Source – Tech Jobs

Technology jobs were once frowned upon as simply fashionable forms of employment with little future but have now become some of the most impressive available as new forms of energy are produced and the ‘Internet of things’ moves closer towards becoming a reality; by 2024, it is estimated more than 12 percent of tech employment sectors will grow to make this one of the largest fields of employment in the world.

Renewable Energy Technician

Across the U.S., the performance of renewable energies looks set to outstrip that of coal and other fossil fuels which are slowly being phased out of the energy production sector. Perhaps the fastest-growing job in any technology field, a Renewable Energy Technician will not be affected by robotic updates or the use of artificial intelligence in the coming years as the installation and maintenance of PV panels and wind turbines is estimated to grow by 100 percent over the next ten years.

Artificial Intelligence Engineer

There are few areas of growth as fashionable or exclusive as Artificial Intelligence Engineer which has attracted some of the top names in the tech industry who are given salaries often matching sports stars and celebrities. Any tech expert or student looking to break into the latest area of growth should be looking for skills which can be applied to AI if they wish to match the top salaries seen in this sector.

Interface Design Director

The entire sector of Web Development may have been around for as long as the Internet but it still has the potential for growth in the coming years as the number of new jobs available grows by around 27 percent across the next six years. An Interface Design Director is responsible for planning the user interface of apps and Websites and implementing the design over the course of a Web-based project providing an average salary of over $160,000 in 2018.

Video Game Streamer

One of the new sectors of jobs which will become important in the coming years is that of Video Game Streamer for Web sites such as Twitch which has more than 25,000 members streaming video games and earning money. The so-called ‘gig economy‘ is driving the rise in those looking to establish a career in a technological environment which is always evolving.

Biomedical Engineer

As the population of most of the developed world continues to age the need for new equipment, techniques, and pharmaceutical options will also continue to grow. A biomedical engineer is responsible for developing a range of new products including replacement organs, limbs, and other medically-based equipment based on the technological needs; the forecast job rate for this role is 23 percent by 2024 and offers a median salary of over $95,000 in 2018.

Software Developer

A software developer is one of the most creative people in the technology sector who is required to spend a large amount of their time exploring new ways of developing programs for mobile apps and larger hardware to the specifications of a client. Developers are also responsible for amending existing programs and apps in a timely manner to keep them as up to date as possible.

Change Management Specialist

There are few roles in technology as new or innovative as a Change Management Specialist who spends their time exploring the best ways of enacting a change within an organization without negatively impacting the majority of a company. This role offers a growth rate over the next half a decade of more than 20 percent and an average salary of more than $130,000 for those willing to take on a position where the positive reinforcement of an organization remains key to the overall health of the brand they are working with.

Information Security Analyst

The cyber attacks taking place across the globe have had a positive impact on the industrial sector of the Internet security. An information security analyst is a role growing at a fast rate as every company and organization identifies the need for a high level of security across their group which is one of the major reasons for the U.S. unemployment rate of just 2.7 percent in this role. As attempts at cyber attacks become increasingly common in the 21st-century this role looks set to increase in importance across 2018 and beyond.

About the Author

Summit Shah is a specialist who has helped several companies integrate technology into their business. At present, he has helped over 20 companies in his several areas of expertise such as internet marketing, customer feedback solutions, data analytics, and product development. For more information about Summit Shah, visit him on his website,  Summit Shah Tech