The demand for multi-factor authentication (MFA), requiring additional proof of identity beyond a simple username and password, is gaining acceptance worldwide. Financial organizations are facing the reality that customer experience, from registration to login, preferences, and beyond, is the new battleground. The rising number of identity thefts and breaches, as well as the increased use of IoT/BYOD devices, are driving up demand for MFA. Face recognition, voice analysis, and iris recognition are used by organizations to authenticate and verify employees.

The Internet of Things (IoT) is rightly touted as the future of technology. Many of our devices are already operating under the core principles of the IoT – connectivity and interoperability – and these features are only going to become more prevalent. From smartphones that can control our light bulbs, to our home security systems that work seamlessly across entire households, the IoT is here to stay.

AI is set to infiltrate almost every aspect of our existence. Almost no corner of humanity will go untouched by its impact, with entire industries recalibrating their operations to make way for intelligent technologies. Artificial Intelligence that uses Machine Learning (ML), data analytics, Deep Learning (DL), Natural Language Processing (NLP), and computer vision algorithms will revolutionize many aspects of healthcare, but notably the mental health industry.

Wireless medical devices are the future of healthcare. Allowing for the remote monitoring of patients, up-to-date information as well as an overall better treatment plan from physicians, these devices are changing the landscape of modern-day medicine. Of course, when technology utilizes wireless features, its connectivity is what deems the product a success or failure. If the connectivity elements aren't prepared to host a large number of users, or don't have a cyber-attack plan in place, these products will not fit the bill for the various applications within the healthcare industry.

The last few years have brought riotous growth for non-fungible tokens (NFTs). In 2021 the industry became public knowledge, with news stories breaking about this new form of wealth investors were scrambling to acquire. Prices rocketed, but the overwhelming hype had its drawbacks. The price of some sales was driven by speculation rather than actual value, creating confusion over the worth and staying power of NFTs. Environmental concerns were rife, too, due to the astronomical amounts of energy required to validate the blockchain-encrypted transactions.

The life sciences are no strangers to technology – despite being concerned with the natural processes of life, the industry has pioneered the use of artificial intelligence (AI) since the 1960s. The problem-solving program DENDRAL was first used in organic chemistry during this decade, paving the way for MYCIN, one of the earliest and most significant uses of AI in healthcare. More advanced programs followed, which, owing to their complexity, never quite took off.

With the resurgence of low-rise jeans and velour tracksuits, the early 2000s trend cycle has officially begun. However, there is one trend you may not have expected to see return so soon. If you often feel nostalgic over early cell phone tech, you’ll be pleased to hear that flip phones are back on the market – well, sort of. Foldable smartphones of today are a modern take on the old classic, with smartphone features we've all become accustomed to since last owning a foldable device.

Global Fintech Fest 2022

We were overjoyed that three of our analysts from our India office headed to Mumbai’s Global Fintech Fest this year. The team attended from 19-22 September and were excited to discover the latest in financial technology.

Almost as if it were picked straight from a George Orwell novel, smart cities are the future - but not in the way you may think. Orwell was onto something when he suggested that future cities of our planet would host an all-seeing eye that aims to track and scrutinize human interactions. Fortunately, the reality of smart city technology has fallen short of big brother mutiny against humanity, revealing instead a less dramatic tale of an interconnected city built with digital technology to assist citizens’ safety, security, and well-being.

The concept of the metaverse is not a new phenomenon: the term was first documented in Neal Stephenson’s science fiction novel Snow Crash, published in 1992. The novel outlined a 3D virtual world accessible through virtual reality display goggles, where individuals roam a cityscape as avatars. The term has circulated in sci-fi and gaming circles since, but it wasn’t until Mark Zuckerberg renamed Facebook to Meta in 2021 that the Metaverse became an immediate possibility .