1. Financial Services
  2. FinTech
June 3, 2020updated 10 Jun 2020 1:01pm

Disruptive tech trends: Fintech leads Twitter mentions in May 2020

By GlobalData Thematic Research

Verdict lists the top five terms tweeted on disruptive tech in May 2020, based on data from GlobalData’s Influencer Platform. The top tweeted terms are the trending industry discussions happening on Twitter by key individuals (influencers) as tracked by the platform.

1. Fintech – 3,324 mentions

Essential fintech trends, ranging from the emergence of digital-only banks to the increasing importance of blockchain and smart contracts, how fintech is disrupting insurance, and how it is practically controlling everything we do, were some of the popular topics discussed in May 2020. For example, Jim Marous, an internationally recognised financial industry strategist, shared an interview with Lemonade’s CEO and co-founder on how fintech is disrupting the insurance sector. The interview delves on how the insurance company uses cutting-edge technology such as artificial intelligence, behavioural economics, and others to transform the experience between the carrier and its customers.

Antonio Grasso, a digital transformation advisor, meanwhile, tweeted on how fintech start-ups are transforming the financial services industry. Right from digital-only banking looming to the fast paced adoption of blockchain services and AI solution strategies, technology is set to disrupt the $4.7 trillion worth global financial services, the article noted.

In other news, Ronald van Loon, a top technology influencer, shared an article on how fintech is transforming our lives and everything we do. The article further noted that fintech matters because it increases competition, lowers customer costs, and provides services to people who are not in favour of traditional banking.

2. Machine Learning – 2,301 mentions

The application of machine learning across sectors such as healthcare and sports broadcast innovation, were popularly discussed during the month. According to an article shared by Eric Topol, a physician and scientist, a mathematical modelling approach based on state-of-the-art interpretable machine learning algorithms can help in identifying the most discriminative biomarkers of patient mortality in COVID-19 infected patients. The article further noted that machine learning tools selected three biomarkers that predict the mortality of patients 10 days in advance and with more than 90% accuracy.

Andy Jassy, the CEO of Amazon Web Services (AWS), tweeted that with AWS, machine learning, and analytics, Bundesliga fans will be able to come much closer to the action on the pitch with match facts. The football league partnered with AWS to deliver real-time action during live matches and highlights to the younger demographic particularly in the developing countries. The partnership uses cloud and AI to crunch the numbers for television viewers and tailor content for fans on online platforms.

In other news, Spiros Margaris, a VC futurist, tweeted on how the coronavirus pandemic has caused machine learning algorithms to fail in unusual ways. The article noted that though machine learning models can understand patterns and correlations between variables, they do not understand causation.

3. IoT – 1,931 mentions

IoT-enabled education solutions, innovations, key digital technologies being adopted by digital factories through 2020, and scaling IoT to meet enterprise needs, were popularly discussed topics during this month. According to an article shared by Antonio Grasso, a digital transformation advisor, IoT-enabled education solutions – starting with whiteboards and connected school buses – are allowing the education sector to transform itself for the future. The two only challenges standing in its way are cost and security, the article noted.

Meanwhile, the influencer also shared an article detailing how enterprises are increasingly complementing their cloud-based IoT solutions with edge computing to accelerate the pace of data analysis and make quicker and faster decisions.

In other news, Ronald van Loon, a top technology influencer, discusses the scope of IoT and whether it will continue to grow in 2020 or has it reached its peak.

4. Artificial Intelligence – 1,847 mentions

Artificial intelligence is expected to not only change the software paradigm but also contribute significantly towards economic growth. Innovations, how it can be tapped for its full potential, and how AI winners are aligning investments around it to manage risks and build value, were some of the popularly discussed topics in May. According to an article shared by Marcus Borba, a global thought leader and influencer, the impact of artificial intelligence on society is likely to increase. The article further noted that AI is manning smart internet courts, receiving and analysing proceedings, and delivering verdicts.

Antonio Grasso, a digital transformation advisor, further elaborates on how AI winners are focusing on organisation-wide alignment, investment and integration. According to the Artificial Intelligence Global Executive Study and Research Report, companies that have figured out how to integrate their AI strategy with the overall corporate strategy and digital initiatives stand to win.

In other news, Harold Sinnott, a social media and digital marketing consultant, tweeted on the World Economic Forum’s Future of Job report, which highlights the 10 skills that give humans an edge over robots and artificial intelligence.

5. Digital Transformation – 1,425 mentions

The potential of digital transformation, tech innovations, digital technologies being adopted by digital factories, and talks of Industry 5.0, were popularly discussed during the month. For example, Satya Nadella, the CEO of Microsoft Corporation, shared an article on the establishment of a new data center region in New Zealand to enable every company in the country to build their own digital capabilities.

Antonio Grasso, a digital transformation advisor, further discussed through a tweet on how Industry 4.0 is replacing the traditional working algorithm by providing more intelligent manufacturing equipment and environments with the help of technologies such as IoT, cloud, and big data.

In other news, Ronald van Loon, a top technology influencer, shared an article on how emerging tech has penetrated the aviation sector. The video shows how the Hexa, an amphibious vertical take-off and landing (VTOL) aircraft that can be flown without a pilot’s licence. It features 18 electric motors and propellers with four perimeter floats for safe landing. Hexa is designed by LIFT Aircraft, and qualifies as a powered ultra-light aircraft under FAA regulations.