scholarly journals PRIORITIES AND CHALLENGES OF INTRODUCTION OF DIGITAL INNOVATIONS IN THE FIELD OF FINANCIAL SERVICES

2021 ◽  
Author(s):  
Liudmyla Volokhova
Keyword(s):  
Information And Communication Technologies ◽  
Financial Services ◽  
Identity Management ◽  
Technological Development ◽  
Insurance Industry ◽  
Digital Data ◽  
Positive Effects ◽  
Monetary System ◽  
Multiplier Effects ◽  
State Of Affairs

The paper emphasizes that the transition to a digital economy is a reality dictated by time. The economy continues to grow at an incredible rate due to its ability to collect, use and analyze vast amounts of digital data. The advantages of digitalization are considered, which provide, first of all, numerous multiplier effects of digitalization, when all financial and production processes are included in a single information space. Over the last year, the vectors of e-commerce and banking, telecommunications, IT security, and other digital online tools have accelerated significantly. The real state of affairs shows that digital technology-based solutions are more efficient than traditional ones. The constant acceleration of digital trends will encourage investment not only in direct fintech projects, but also in technologies such as cybersecurity, fraud prevention and digital identity management. At the same time, in general, among the main risks and threats of digitalization, scientists include: the possibility of concentrating power in the market and strengthening monopolies; capture of new markets by transnational corporations; destabilization of the monetary system; growing dependence on leading companies in the field of information and communication technologies. At the same time, the fear of the dangers of digitalization has recently increased markedly. Most companies fear technological innovation due to the rise of cyber incidents. In the era of systemic interactions, digital technologies have a significant impact on social, ethical, legal and economic factors, so it is necessary to anticipate the possibility of maximizing the positive effects of technology and minimize the negative. New challenges can be used to destroy security and breach privacy. Given the fundamental difference between financial innovations and other types, the issues of nature, types, risks and limitations and challenges of implementing innovations in the field of financial services are considered. The paper considers extremely important issues of promoting the digital transformation of technological development for the insurance industry.

Life Insurance-Based Recommendation System for Effective Information Computing

2021 ◽  
Vol 11 (2) ◽  
pp. 1-14
Author(s):  
Asha Rani ◽  
Kavita Taneja ◽  
Harmunish Taneja
Keyword(s):  
Information And Communication Technologies ◽  
Life Insurance ◽  
Recommendation System ◽  
Insurance Industry ◽  
Communication Technologies ◽  
Digital Data ◽  
Rich Domain ◽  
Personalized Services ◽  
Information And Communication ◽  
Health Assets

Due to the rapid advancements in information and communication technologies, the digital data is exponentially growing on the internet. The insurance industry with tough competition has emerged as information rich domain based on health, assets, and life insurance for public. Customers expect to receive personalized services that match their needs, preferences, and lifestyles. But a large portion of population is still unfriendly to the insurance selection. Major reasons could be the time and complexities involved in selection of suitable policies. This paper presents the state of the art of the research done in insurance recommendation systems at national and international levels. Multi-criteria decision-making methods are compared with collaborative filtering and data mining techniques. Their suitability to the field of life insurance recommendation is analyzed. The paper identifies the lack of public dataset of customers and life insurance policies and highlights the need for a personalized, neutral, and unified model for effective information computing for life insurance recommendations.

DIGITALIZATION AS A NEW PARADIGM OF SOCIO-ECONOMIC DEVELOPMENT

2020 ◽  
Vol 5 (11) ◽  
pp. 5-9
Author(s):  
T. S. KOLMYKOVA ◽  
◽  
S. V. KLYKOVA ◽  
N. Yu. MAKAROV ◽  
◽  
...  
Keyword(s):  
Business Models ◽  
Technological Development ◽  
Digital Data ◽  
New Paradigm ◽  
Positive Effects ◽  
Production Factors ◽  
Role Of The State ◽  
New Business ◽  
Structured Information

The article examines the substantive aspects of digitalization as a new paradigm of technical and technological development. The features that distinguish the digital economy are structured. Information, knowledge and digital data are key production factors. Digitalization is considered as a modern tool for ensuring economic growth. It leads to the emergence of positive effects: the emergence of new business models, the creation of a basis for breakthrough innovations, and ensuring competitiveness in the long term. The important role of the state in the implementation of largescale investments, which are the drivers of the development and implementation of digital technologies, was noted.

scholarly journals THE IMPACT OF TECHNOLOGICAL DEVELOPMENT ON INSURANCE COMPANIES

2019 ◽  
Vol 1 (18) ◽  
pp. 73
Author(s):  
Dejan Pušara
Keyword(s):  
Information And Communication Technologies ◽  
Technological Development ◽  
Insurance Industry ◽  
Business Environment ◽  
Modern Technology ◽  
Insurance Companies ◽  
Fundamental Parameter ◽  
Risk Modeling ◽  
Business Decision ◽  
The Impact

In the contemporary business environment, the fundamental parameter for the successful subsistence of the competitive advantages is keeping pace with the contemporary trends. This also applies to the insurance industry, regardless of how conservative it is considered to be. Information and Communication Technologies influence all business sectors of the insurance companies. The users are increasingly reaching for the Internet as tools of research of insurance prices and products, and possibilities are opening up for the insurers through the new distribution channels. Innovations of the existing products and the development of the new ones represent the driving force behind the evolution of the entire insurance sector. Investing in the modern technology through information systems and risk modeling software makes administrative work easier, and has a significant role in the strategic-business decision-making process.

scholarly journals Bank System in the Digital Economy

2021 ◽  
Vol 5 (520) ◽  
pp. 333-338
Author(s):  
N. V. Akymenko ◽  
◽  
N. S. Mamontenko ◽  
Keyword(s):  
Information And Communication Technologies ◽  
Financial Services ◽  
Banking Sector ◽  
New Technologies ◽  
Positive Impact ◽  
Digital Economy ◽  
Digital Data ◽  
Domestic Banks ◽  
Bank System ◽  
The Impact

The article is aimed at analyzing the activities of domestic banks in the digital economy. The publication proves the need to consider the digital economy as an economy based on the use of digital data and is not limited to the trade sphere. Accordingly, it is proposed to consider the process of digitalization of the banking sector as a process of transition of the banks’ activities from the traditional form to one based on the use of information and communication technologies. The digitalization process has both a negative and positive impact on the activities of banks. As a result of new technologies, the advantage of banks was leveled, which was based on the use of expensive system software for their work within the framework of the desintermediation process. Under the new conditions, large global or local tech giants have significantly influenced the market, which, having a large customer base, additionally offer them financial services. Significantly affect the market the neo-banks, which, having transferred most of the activity online, caused the need to revise the feasibility of the existence of bank branches. Fintech companies have become the main competitors of banks, which is explained by their awareness in the innovation market and great flexibility. At the same time, cooperation between banks and fintech companies is promising. The article takes into account the impact of the pandemic on the financial services market and the activities of all participants, including banks. A significant restriction of social contacts led to the transition of a large number of services online, including the banking ones. Customers of banks received a push to use mobile applications. In a pandemic, the criteria that influence the choice of the bank have significantly changed. Changing priorities towards a greater choice of remote services, the convenience of obtaining them, should be taken into account by banking institutions in their activities.

scholarly journals Audience Response Software as a Learning Tool in University Courses

2020 ◽  
Vol 10 (12) ◽  
pp. 350
Author(s):  
Ana María Díez-Pascual ◽  
María Pilar García García Díaz
Keyword(s):  
Mobile Devices ◽  
Information And Communication Technologies ◽  
Control Group ◽  
Audience Response ◽  
Multiple Choice Questions ◽  
Positive Effects ◽  
Frequency Of Use ◽  
Questions And Answers ◽  
Information And Communication ◽  
Teaching Learning

The use of information and communication technologies (ICTs) has become a fundamental tool in all areas of today’s society, including higher education. Lessons cannot be envisaged without the use of tools such as computers, tablets or mobile devices. Many lecturers use audience response systems (ARS) to keep their classes engaged. ARS software allows teachers to interact with students via polls, text responses, or multiple-choice questions displayed via their mobile devices. A new example of the use of this type of devices in education is gamification, a technique that uses a set of activities with ludic character as a learning methodology in order to facilitate the acquisition of knowledge and competences. One of the most used gamification tools is Kahoot!, a free learning application based on a mixture of game and creativity, which encourages attention and participation of students through questions and answers formulated by the teacher and designed in a way that students respond via their mobile phones. This paper examines the use of Kahoot! in a subject belonging to the chemistry area. In order to assess the benefits of this tool, it was tested in a group of students to review the knowledge and skills acquired during the theoretical lessons prior to the exams, and the academic results were compared with those of a control group of students who did not use the tool. The results demonstrate that the use of Kahoot! led to an improvement in the teaching–learning process of the students and a noteworthy rise in their marks, and that its positive effects rise with increasing the frequency of use of this didactic tool.

scholarly journals Value-driven engineering of E-maintenance platforms

2014 ◽  
Vol 25 (4) ◽  
pp. 568-598 ◽  
Author(s):  
Marco Macchi ◽  
Adolfo Crespo Márquez ◽  
Maria Holgado ◽  
Luca Fumagalli ◽  
Luis Barberá Martínez
Keyword(s):  
Information And Communication Technologies ◽  
Cost Benefit ◽  
Communication Technologies ◽  
Industrial Applications ◽  
Maintenance Management ◽  
Content Type ◽  
Positive Effects ◽  
A Value ◽  
New Information ◽  
Information And Communication

Purpose – The purpose of this paper is to propose a methodology for the engineering of E-maintenance platforms that is based on a value-driven approach. Design/methodology/approach – The methodology assumes that a value-driven engineering approach would help foster technological innovation for maintenance management. Indeed, value-driven engineering could be easily adopted at the business level, with subsequent positive effects on the industrial applications of new information and communication technologies solutions. Findings – The methodology combines a value-driven approach with the engineering in the maintenance scope. The methodology is tested in a manufacturing case to prove its potential to support the engineering of E-maintenance solutions. In particular, the case study concerns the investment in E-maintenance solutions developed in the framework of a Supervisory Control and Data Acquisition system originally implemented for production purposes. Originality/value – Based on literature research, the paper presents a methodology that is implemented considering three different approaches (business theories, value-driven engineering and maintenance management). The combination of these approaches is novel and overcomes the traditional view of maintenance as an issue evaluated from a cost-benefit perspective.

Globalization of Economy: qualis es et quo vadis?

2011 ◽  
pp. 16-24
Author(s):  
V. Pan'kov
Keyword(s):  
World Economy ◽  
Historical Perspective ◽  
Transnational Corporations ◽  
Main Subject ◽  
Short Term ◽  
Positive Effects ◽  
Current State ◽  
The World ◽  
Quo Vadis ◽  
State Of Affairs

In a long historical perspective, the globalization of the economy is, no doubt, the future of the mankind. However, we should not overlook the contradiction that has dramatically intensified as a result of the 2008-2009 recession. This is the contradiction between globalization as an objective process with mostly positive effects and its model that is being implemented today (namely, the policy of globalization). Furthermore, we can propose a number of important arguments in favor of a statement that at the current state of affairs the globalization has exhausted itself. Nobody can exclude a short-term braking down of the globalization progress nor even a U-turn, albeit temporary, to a de-globalization. Under unfavorable circumstances such a reverse movement can cover the entire period up to 2020. The author states that transnational corporations are the main subject of the world economy which will the most actively oppose such a development.

Digital Technologies in Everyday Life of the Russians

2021 ◽  
Vol 28 (3) ◽  
pp. 45-55
Author(s):  
O. V. Kuchmaeva ◽  
M. Yu. Arkhipova
Keyword(s):  
Everyday Life ◽  
Information And Communication Technologies ◽  
Financial Services ◽  
Classification Tree ◽  
Digital Technologies ◽  
Living Environment ◽  
Educational Process ◽  
Telecommunication Networks ◽  
Main Factors ◽  
Modern Technologies

The development of innovations changes the usual living environment of people, affects their standard of living and lifestyle. The purpose of the article is to identify the main factors that determine the attitude of the Russians to innovations and contribute to their spread in everyday life. Findings based on the data of sample surveys, in particular the Comprehensive survey of living conditions of the population (2016), sample Federal statistical observation on the use of information technologies and information and telecommunication networks by the population (2018), and the materials of the Russian Longitudinal Monitoring Survey (RLMS) and the authors’ research conducted in 2017 in Moscow and the Moscow region. The authors used a set of methods for statistical data analysis. The application of the classification tree method revealed the main factors that influence the use of innovative technologies in everyday practice. Factor analysis was used to determine the specifics of Internet use by the Russians. The two-step cluster analysis procedure allowed to form two typology groups (clusters) of respondents depending on their use of such innovative practice as distance financial services. A positive attitude to innovation and information and communication technologies is determined by the experience of using modern technologies in the educational process, the age and interest (readiness) of respondents to use innovations and digital technologies in everyday life. The attitude to innovation is largely determined by the psychological characteristics of the respondent, their willingness to accept innovations. Although innovative practices such as tablet use and distance financial services are widely distributed, their prevalence is determined by similar factors. At the macro level, the parameters of the image and quality of life in various types of settlements, and the involvement in modern technologies in the workplace have an impact. The social and professional status of the person plays a more crucial role than the type of economic activity.

Expert Systems in Medicne:Possible Future Effects

1988 ◽  
Vol 4 (1) ◽  
pp. 121-133 ◽  
Author(s):  
P Potthoff ◽  
M. Rothemund ◽  
D. Schwefel ◽  
R. Engelbrecht ◽  
W. van Eimeren
Keyword(s):  
Health Insurance ◽  
Expert Systems ◽  
Medical Profession ◽  
Insurance Industry ◽  
General Medicine ◽  
Practical Application ◽  
Actual Knowledge ◽  
Positive Effects ◽  
The Subject ◽  
Health Insurance Industry

It should be pointed out that during the interviews most of the experts had positive expectations of ESM. The developers are more generally enthusiastic than the prospective users and affected parties who, especially in respect of the diffusion of ESM into practical application, only show a limited optimism.However, the representatives of the medical profession and the health insurance industry were convinced that ESM might contribute to cost-neutral increases of quality in out-patient and in-patient medicine. But we also understood them to say that they consider other developments in medicine to be overriding, for example, a tendency of general medicine towards a more family-oriented medicine and a reduced emphasis on technology-oriented medicine. In respect of the conception shared by developers as well as potential users that over-enthusiastic expectations should rather be restrained, we consider such a balanced expectation of positive effects of ESM to be adequate to the actual knowledge of the subject.

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