The solution has completely changed the technology

Running head: ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
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ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION1
Part One – Research
Technology is considered to be as one of the largest investment for financial service
domain. It is found to be an important for the current business structure and core of many
customer services, innovation and risk management. Most of the financial institutes are looking
for technology that has strategy and investment for new trends (Balasubramanian, Libarikian &
McElhaney, 2018). It is actively building their overall over their business and technology for
disrupting the disruption. IoT has created a platform where insurance organization for analyzing
the risks in more precise way. Most of the auto-insurance tends to be depend on indicators like
age, address and driver for setting up premium.
Application of IoT (Internet of things) has helped the insurance organization to easily
interact with their customer in more frequent way. They aim to provide new kind of services
depending on data which is collected by them. In the insurance domain, customer is merely
engaged with various agent or broken and direct contact with the limited contract extension. In
addition, it helps in better handling of most of the insurance claims (Cao et al., 2016). IoT aims
to have huge number of benefits for customer relationship that will allow the organization to
have much more intensive and target customer contact.
The solution has completely changed the technology in more rapid way. With the
development of Google and Amazon a platform has been built for smart home offers on market.
The whole market has created a platform by facilitating proper connection with many devices.
Most of the insures around the globe has come up with co-operation model which is all about
integrate selling of products through Google nest (Chiang & Zhang, 2016). It aims to provide

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discount to the people who have equipped their home with smart home devices. In addition,
these insurers have offered certain number of digital services for home and convenience services.
Part two- Brainstorming
 Internet of things is making its presence across the whole industries and insurance
organization are not considered to be different. IoT makes use of huge amount of data
flow and information from different devices for calculating the overall outcomes. Being a
home owner, it is natural for home for a person to opt for good home policy for
protecting his home from any kind of damage and calamities (Dorri et al., 2017). This
kind of thing can be avoided by the help of IoT. Most of the devices are powered by IoT
which are linked with satellites and different sensor. This can warn insurance policy
holders with respect to the issues before it stands to be big.
 Internet of things aim to have huge impact on the manufacturing industry. It mainly due
to the inter-reliability on various sensors, lines, processing units and building system
software. IoT is considered to be imperative for most of the manufacturing organization.
It merely helps in having a much better visibility for equipment performance and security
threats. By using this technology, plant environment can easily develop dashboard which
is needed for safety, efficiency and running assets (Kolias et al., 2017). IoT in
manufacturing industry aims to provide real-time visibility to most of the manufacturing
process.
 Internet of things (IoT) aims to generate huge amount of data which comprises of
machine learning capabilities that is introduced in the IoT based solution. With the
passage of time, the number of devices so there is increase in volume of overall data. This
merely help the invaluable data which will help the system in understanding the different

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in between working and not working. The data volume goes beyond the human
capabilities which is required for analytics (Manral, 2015). So as a result, machine
learning will be required for returning value from IoT based solution.
 Having conversation with devices in not a new thing for different human being. Most of
the smartphones come up with digital assistance that have been around. Smartphones
come up with digital assistance which are all around. Amazon echo has already pioneered
in the home digital assistance space. IoT devices are considered to be beneficial in case of
emergency for senior homes (Rabah, 2018). NLP comes up with capabilities along with
sensor that will help in preventing any kind of digital emergency by analyzing processing
and altering appropriate help.
Part three- Regulation and Ethics
Market: As IoT is a growing technology so there are huge number of challenges with
respect to implementation. IoT ecosystem aims to encounter huge number of cyber-attacks that
requires involvement of various devices and protocol. IoT-based solution is considered to be
effective for large volume of data in between the entities for network (Radanliev et al., 2019).
There is need of large investment for securing IoT generated data. It is merely required for data
misuse for any fraudulent activities.
Law: UK government has come up with new kind of announced plans for new IoT based
security laws. It is generally required for manufactures for providing restriction to connected
devices. The plan has come up with new kind of law which requires three key security needs for
IoT devices. The devices should come up with a unique password which cannot be reset to
universal factory setting.