Here are the top 10 companies from the WEF’ Technology Pioneers 2019 list, which are likely to change the industry landscape
We have prepared a short list of the pioneers in the fintech sector marked as especially noteworthy by the World Economic Forum whose ideas are likely to change the industry landscape in the nearest future.
Technology Pioneers 2019
Why are ride-sharing services still limited to carrying passengers? What about trucks that bring heavy loads, production supplies, and ready-made products? Half of them deliver goods to a destination and return empty. That’s a huge waste of time, energy, and corporate money.
Homoola from Saudi Arabia has been trying to reform cargo transportation with its innovative Uber-like platform. They connect shippers with carriers via a smart AI engine. The app allows real-time tracking tools, the ability to print shipping documents automatically, and access all the accounting information 24/7. The company provides insurance for the shipment, and payment guarantees to all the carriers.
QEDIT from Israel offers a zero-knowledge blockchain platform where proof of transactions is based on a brand new type of cryptography. It is a great solution for all companies leveraging sensitive customer and business data. The integrity of their databases will not be endangered by third parties or dishonest employees.
The platform allows one to transfer ownership of Blockchain assets without revealing the confidential transaction details while still ensuring regulatory compliance according to custom-defined business rules. The audits such as credit and risk scoring can be also carried out with the same precision but without private data involved.
Singaporean Tookitaki combines machine learning, distributed systems, and business expertise to create simple software for sustainable compliance management. Their two product suites focus on money-laundering protection and reconciliation.
The first one is an end-to-end, machine learning solution based on transaction monitoring & name screening. It complements current legacy systems, reduces false alerts, and detects ‘missed’ suspicious cases.
The second one deals with matching and substantiation. It can improve match rates, accurately detect exception types and recommend adjustment amounts for automatic reconciliation. This system highly improves investigation processes and decreases the cost of operations.
Many employers provide medical insurance as part of the benefits package. Whereas the regular clinical cases are dealt with high efficiency due to the numerous insurtech solutions, mental health issues have been out of the picture for a while. NY-based Spring Health is bound to solve that.
Their clinically validated mobile solution pairs patients with mental health professionals and personalized care plans. The automated screening tools help employees detect symptoms early. The online support is available via text, email, phone, or video.
The software provides hassle-free appointment scheduling, as well as advanced personalized treatment selection tools. Timely professional assistance makes teams more competitive, with higher productivity, engagement, and creativity. Not to mention that employers save money on claims, disability, and turnover.
American digital remittance service Remitly developed a reliable and easy-to-use mobile app that helps to send money cross-border faster, easier, more transparent and less costly for immigrant communities.
Users can quickly send their money to relatives, friends, or business partners in Africa, Asia, Central Europe, and South America. They have a flexible fee system individual for every destination. Economy variants start from zero-fee, while express transfers can cost up to 1% from the remittance amount. Users create free accounts to send money to bank accounts, cash-in locations, mobile recharges, or directly to their recipient’s doorstep.
Recently, the company announced an agreement with Visa to add another fast, secure and transparent channel to the Remitly digital money transfer platform through Visa Direct, Visa’s real-time push payments platform.
Guangzhishu Technology from China brings inclusive finance to underserved populations and improves the efficiency of financial institutions with their Points (PTS) protocol – a privacy-preserving and scalable blockchain-based data computation solution. They have joined Hyperledger Developer Community – an open-source collaborative effort created to advance cross-industry blockchain technologies – to make their financial services low-cost and high-quality.
Another Chinese pioneer, Dorabot, creates AI-based robotic solutions for logistics and beyond. Their warehouse automation technologies can sort small packages and envelopes as well as do heavy loading.
They handle routine and difficult tasks better than human employees monitoring load quality and stability in real time with 3D vision sensors. The pick-and-place robots can route particular boxes out of mixed singulated inflow to suitable pallets using barcode data.
For those employers who still prefer using human resources in their warehouses, the company offers alternative software solutions. Their load planning software seamlessly integrates with any WMS to calculate high-utilization loading instructions for warehouse workers.
DataProphet brings innovation to manufacturing processes from South Africa. Their AI-based industrial solutions optimize production in a major measurable way. They reduce defects and scrap by at least 50% and improve plant efficiency by prescribing optimal control parameter settings.
The machine-learning algorithms are easily integrated into existing environments. They have already proven their efficiency in the heavy industry sectors such as foundry, automotive manufacturing, steel production, mineral processing, etc. The companies striving to embrace the benefits of the Industry 4.0 principles and make their factories truly “smart” eagerly give it a try.
A cloud design platform Onshape unites CAD, data management, collaboration tools and real-time analytics to modernize and speed up the product design process. Their smart technology facilitates collaboration between team developers. It allows simultaneous editing with real-time design review, live chat and commenting.
The security of this cloud platform is guaranteed via two-factor authentication, advanced encryption models, and SOC 2 Certification. It also provides a range of data analytics tools, automated customized reporting options, and easy audit controls.
The industrial workflow is still mainly based on people. Drishti from the USA suggests human efficiency in their manual work can be better accessed in the age of technologies and should be optimized along with automated processes to reach ultimate production efficiency.
Their action recognition technology uses computer vision and AI to digitize actions performed by humans on the assembly line, as they perform them. The profound dataset helps manufacturers anchor true digital transformation strategies around augmenting — not displacing — the valuable contributions of the human workforce. Such human analytics opens new perspectives of productivity and quality in combined manufacturing.