Finance and technology have always gone hand in hand, as technology has developed - so has the opportunities to improve businesses dealings. 

A few years ago, the Yellow Pages were the best place to find a vendor, now there are endless websites, social media pages and articles to help companies market their services. In the same way, various other sections of business from sales to operations have improved because of disruptions by technology.

Here are the top four technologies that changed the way business will be done in the future: 

1. AI

The stories of computers outsmarting humans were staples of science fiction books and movies in the past but today is a very real reality. The emergence of artificial intelligence (AI) in business has changed the way business is being done by giving us smarter ways to use data, better risk analysis and ability to predict investment strategies. AI, or more specifically cognitive computing, has been groundbreaking in risk management especially since typical risk issues usually include ambiguous events. Companies have found that traditional methods of working with data have not been able to handle the large, ever changing data volume, and AI has been working better against these data sets to find indicators of known and unknown risks. 

2. Chatbots

Scott Zoldi, the chief analytics officer for FICO, said that in 2018, chatbots will become more sophisticated and will be able to recognise tone, content and conversational paths, which will reduce the costs of routine customer care activities and will improve the experience for the customer. The combination of AI and chatbots have also given rise to robo-advisors, which are online platforms providing an automated investing service. The service removes the middleman and the control of the investment is put in the hands of the client. The client completes an investment process online and the platform recommends an investment portfolio to them based on the information that was provided - saving the client money and time. 

3. Biometric authentication

Forgot your password yet again? This is a common issue for many and biometric authentication is one method of solving this. Biometric authentication is a user identity verification process that involves biological input or the scanning of some part of the user’s body – We’ve seen this as fingerprints or facial recognition technology in a number of everyday applications such as cellphones, but now websites and apps are also beginning to use this technology to prove identification for purchases, banking as well as for login access. 

4. Blockchain

According to Amit Zavery, the senior vice-president of product development at Oracle Cloud Platform, forecasters see blockchain becoming the disruptive standard in commerce, and 2018 will be the year that businesses prepare for the impact that blockchain will make on their internal finance organisations. 

Blockchain technology allows digital information to be distributed but not copied, originally devised for Bitcoin, the technology has the potential to be used across the financial sector. It alleviates the need for a trust service and many see it as potentially reducing fraud and systemic risk.

Disruptions are a welcome change-up in every context, and they almost always change the status quo so that things can improve. In much the same way, Indie was created to disrupt, to change and to improve the insurance industry. The key to their disruption is that they are the first insurer to not just allow clients to insure their lives, but to create wealth. Only Indie matches up to 100% of your monthly premium and puts it into an investment that creates future wealth. IndieFin has designed products from the ground up and is a digital-first insurer, making everything convenient for the consumer. IndieFin has a range of products from death income protection, funeral cover, disability cover, critical illness cover and life insurance. Find out more here

This content is sponsored by IndieFin and co-created with BI Studios.