Since the early 90s, money laundering has been a major challenge hampering the economic growth of countries across the globe. In the recent years, the world has witnessed some of the biggest money laundering scandals till date. As per the United Nations Office on Drugs and Crime, approximately $800 billion - $2 trillion U.S. dollars are laundered every year. The digitalization of the financial services sector has improved its functioning, but at the same time, has also exposed it to the risk of money laundering.
Internet of Things(IoT), mobile devices, and other systems are producing a vast amount of decentralized data at the network’s edge. This huge amount of data requires enormous investments in the expansion of computational resources such as analytics, storage, and networking software along with computing platforms. With the evolution of edge computing into edge analytics, the problem of decentralized data can be overcome. Edge analytics collect and analyze data at the point where it is generated such as sensors, IoT gateways, network switches, and other devices. According to the latest market intelligence report by BIS Research titled, ‘Global Edge Analytics Market-Analysis and Forecast (2018-2025),’ the market is expected to reach $13.44 billion by the year 2025. This significant growth is attributed to the rapid proliferation of the number of connected devices and the continuous expansion of data generated by these devices.
We are living in the golden age of technological developments with various evolving technologies, from artificial intelligence to gene editing. Blockchain technology is one such technology that has the potential to transform the future. In the year 2017, several initiatives for the adoption of blockchain had been taken by prominent market players and large food industry participants. This year, the applications of blockchain technology such as food supply chain management and safety traceability are expected to garner the attention of the market. However, at present, it is more used as a financial ledger.
Money laundering is a term widely associated with financial and business crime, and sometimes defines misuse of the financial system, including terrorism financing and evasion of international sanctions. Due to these money laundering activities, the threat to national security has increased and the governments have become predominantly active in the prevention of such launderings. Over the last few years, financial services industry has undergone significant modifications in technology that can fight money laundering. The companies in the financial industry are integrating new technology and innovative IT solutions to increase their efficiency in combating the menace of money laundering.
Artificial intelligence (AI) is gaining popularity and importance across different sectors in the world and healthcare sector is no different. The role of AI in healthcare sector is widespread as it is helping to solve the problems of patients, doctors, hospitals, and the overall healthcare industry. From virtual assistants to using a robot for explaining lab results, AI is garnering important role in several healthcare operations helping clinicians and patients. The primary reason for the rapid adoption of AI technology is the increased efficiency of the operations along with accurate and effective output. With the use of AI in various aspects of healthcare the rate of human errors are reduced which effectively brings down the risk of some untoward situations.
The world has entered a dynamic digital age where countries are competing to digitize every process, and in this world, cryptocurrencies are the new moolah. Digital currencies are being promoted as a safe and better option for financial transactions, and these currencies are based on blockchain technology, which has been hailed the next big revolutionary technology after the invention of the internet. The recent worldwide ransomware attacks have made use of the biggest cryptocurrency in the world, Bitcoins. The advantages and disadvantages of this new technology are still being debated by experts, but it is undeniable that blockchain technology is here to stay.
Console gaming has been popular for a long period of time, but there has been a decline in its popularity for the last 2-3 years. The gradual shift of developers towards mobile games has been a primary reason for this decline. Mobile games have attracted the developers because of the ease of developing the game and the minimal investment the business requires. Mobile gaming industry has been evolving due to the technological advancements in the gaming industry, which is being driven by the rising demand of portable interactive entertainment in the market. The expanse of the mobile gaming industry has gradually widened, from including developers, publishers and operators in its ecosystem, it now includes a host of players from adjoining verticals such as media firms, investment firms, event organizers and advertising agencies.
Interactive gaming has overtaken the digital world with the increased market penetration of smart phones. The widespread use of internet has helped significantly in the exponential rise of digital gaming market. Digital media has achieved various milestones in the last decade and the digital gaming industry is at a juncture where various established players as well as nascent companies are expanding their reach into regions with untapped market, and India being one them.
Games of skill, a category of games which requires skills from the player in the form of dexterity, knowledge or strategic thinking, has helped the gaming industry in its development and wide expansion over the last decade, and the global games of skill market is exploring new avenues now. This expansion has helped in creating a new range of platforms for revenue generation and integrated payment solutions ranging from subscriptions fees, pay-per-play, in-app purchases, royalties to premium account and upgrade remunerations. The users in developed countries are familiar with the online paid games, however, among the developing economies, there was inhibitions regarding the online payment gateways initially, but now the user base is adopting the real money online games, thus becoming a loyal revenue base for the industry.