Disruption Is Here But Which Direction Does One Follow

Sweeping innovations are knocking on all sector doors right now, but which door to open, and which door with the most benefits? Elias Omondi of IRA talked about this, at the CIO EA InsureTech forum #CIOEAInsTech

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Which way now?

In their own times, the automobile, electricity service, and television were disruptive technologies. In today’s times, disruption goes beyond what any of us could have ever imagined.

Innovations are simply blossoming into fully-fledged operations that are significantly altering the way that consumers, industries, or businesses operate. A disruptive technology that sweeps away the systems or habits it replaces shows that not only is it superior, but it is revolutionary in every aspect.

Artificial Intelligence (AI) in the form of chatbots is an example of disruptive technology. The Safaricom Chatbot Zuri, displays exemplary knowledge on customer service, keeping up with trends, being proactive, and being able to engage customers tirelessly. Recent disruptive technology examples include e-commerce, online news sites, ride-sharing apps, and GPS systems.

Elias Omondi, the Associate Actuary at IRA, emphasised that while disruptions continue to do what they do best, we should be mindful on which direction to follow. “Insurance accessibility needs to improve” before he went on to reiterate how “decision making and resource allocation processes are key to success of established companies”

Disruption is seeping into all sectors through innovation, while some executives attempt to resist it, the attempts are futile. Technology is not here to take away jobs, it is here to revamp and rejuvenate the way we do our jobs.

 

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