In the lead up to Mobile World Congress, we’ve been thinking about the impact mobile has had on two of the most important sectors that affect the majority of us in our day to day lives: health and financial services.
Organisations in both industries are attempting to embrace mobile technologies to improve the way people interact with them. For the healthcare sector, the technology is being introduced to offset dwindling budgets and pressures to reduce costs while improving patient care. For the financial services sector, mobile innovation is being used to give companies a competitive edge by offering better customer experience.
Exploring the mobile influence
Mobile has completely transformed these sectors. In healthcare, organisations can now capture patient data such as calories consumed, fitness regimes, blood pressure readings, weight and pulses. Wearables have enabled people to track their heart rate, step count and sleep patterns. Interaction has also been improved through video consultations and apps are helping people self-diagnose without the need to visit a doctor.
In the financial services sector, mobile apps are driving consumers away from the traditional high-street bank. Customers can now access and manage their bank account on a smartphone or tablet, while consumers can pay using their mobiles thanks to NFC technology.
But this is just the beginning. Machine learning and data analytics can be used to detect health patterns and predict pandemics from the mobile data before they occur, and artificial intelligence and robotics are the next step in being able to act on some of these big data findings.
Meanwhile, mobile apps are helping cryptocurrencies such as bitcoin go mainstream, and new players, such as Monzo are finding new ways to deliver almost every type of financial service – from peer to peer lending, to digital and contactless payments, to personal trading platforms and beyond.
Although mobile innovation provides an opportunity to improve, there are challenges. Security is one of the key issues here: both health and financial data is valuable and therefore vulnerable to hackers. Organisations within the sector must ensure they invest in the right technology to manage the risk – for example VMware NSX and AirWatch.
The most important aspect for organisations to remember is the need to improve the customer experience – whether it’s a patient or a consumer. Mobile innovation continues to enable business leaders to be able to do this, but they need to work towards a clear strategy, and with the right partners to implement secure platforms.
Come visit VMware at MWC in Hall 3 Stand 3K10 to find out more about our views on how mobile will affect different industries in the future.