Last year, ERGO and Munich Re's "Tech Trend Radar" covered 44 trends in five topic areas, which we will take a closer look at here on //next in a series before the "Tech Trend Radar 2023" appears in the spring. We started with our detailed analyses of "Wellbeing", "Hyperconnectivity" and "Data & AI", and now we turn to "Cyber & Crypto": What is this trend field all about - and which individual trends are hidden behind it?
The "Tech Trends Radar 2022" ("TTR2022") defines the trend field "Cyber & Crypto" as "the home base for technologies around secure transactions and secure ways of data transfer". Key applications in this area include the broad topic of "cyber security," to which we devote a separate channel here on //next anyway, or "digital currencies" such as bitcoin. By the way, you can find a background interview with the creators of "TTR2022" here.
Details on the ten trends in this trend field can be found below, but first let's remember: The study divides all trends into the four different maturity levels:
But which recommendation applies to what?
According to the “Tech Trend Radar 2022”, insurers should implement the following four trends:
Human Recognition: How can people be reliably and uniquely identified? On the one hand, through biometric recognition features (face, fingerprints, iris, DNA, and much more), and on the other hand, through behavior-based patterns (typing speed, computer mouse paths, signature, voice changes). This is a valuable and security-enhancing trend for insurers who need to be sure they are communicating with the right person.
1 Smart Contracts: They record tamper-proof agreements via blockchain and are considered the basis not only for DeFi applications, but generally for all kinds of tokens - such as NFTs - that embody digital and increasingly also real values: Smart contracts can also be of great benefit in the insurance industry, for example, if they reduce transaction costs and execute agreements automatically, unambiguously and legally securely. They also offer new business opportunities when it comes to insuring the assets held on the tokens.
... let's take a look at the trend field “Emerging Industries”: Which ten trends are hidden behind it – and which applications are already in use?
Text: Ingo Schenk