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Top Innovations to Watch in 2024

Top Innovations to Watch in 2024

In the scientific R&D space, we see scientists increasingly working with software companies like Dotmatics to become AI ready. Dotmatics offers software that is used by more than 2 million scientists globally from Bristol-Myers Squibb and Merck to research universities like MIT and Oxford.

As instrumentation manufacturers update and change formats, labs find that scripts break and require updates, which halts any automated data wrangling or analysis efforts. That’s why bringing a single drug to market costs on average around $2.5 billion dollars, takes 10 years, and for every drug that gets approved, ten thousand compounds will fail.

This is why Dotmatics worked with many of the top ten pharmaceutical companies in the world to develop a new scientific data platform called Dotmatics Luma. Luma can handle both the volume and complexity of data, across lab instruments, and at exponential scale, but perhaps more importantly, it’s built to do so in a way that scientists can easily control all on their own. Dotmatics is adding AI functionality with generative AI query-building options and, over time, predictive and adaptive AI that will greatly augment lab testing and decision-making procedures.

The goal is to bring that convoluted and expensive drug discovery process down from billions to millions of dollars, and get life saving therapeutics in the hands of patients much faster.

Build credit without debt

When consumers use an Experian Smart Money Digital Checking Account to pay bills that are eligible for Experian Boost such as utilities, residential rent and telecom, Experian Boost will capture the payments and add them to the consumers’ Experian credit file to potentially increase consumers’ credit scores. More than 14 million consumers have already connected to Experian Boost with an average FICO Score 8 increase of 13 points

It can be a first step for young adults as a recent Experian survey shows that more than half (58%) of Gen Z say they don’t know how to start building credit. Beyond the integration with Experian Boost, the account includes access to a worldwide network of over 55,000 surcharge-free ATMs, bill pay and the ability to receive a paycheck up to two days early for those who enroll in direct deposit.

This program is a continuation of Experian’s mission by expanding access to credit-building innovations that help consumers everywhere get access to fair and affordable credit. It follows the launch last year of Experian Go, honored with a Fast Company 2023 World Changing Ideas Award, that allows “credit invisible” consumers with little or no credit history to directly establish an Experian credit file for the first time and put them on the credit map.

The speed of connected devices

Businesses want to focus on their core value – whether it be a connected car platform, a drone that carries medical supplies, or a connected dishwasher. They don’t have the time or the expertise to worry about the data moving from point A to point B. HiveMQ takes that piece, the movement of IoT data, and solves it seamlessly.

The car door opens in sub one second instead of 30, the drone gets the medical sample to the hospital 75% faster, and the dishwasher tells the owner when the detergent is empty. HiveMQ powers all of these use cases with the scalable, secure and reliable delivery of data built on MQTT and is reliable under real-world stress.

Fortune 500 companies across all industries are trusting HiveMQ to power smart device innovations. Mercedes Benz achieved 100% uptime for a business critical manufacturing diagnostic system, rolled out to 24 global factories. BMW dramatically improved customer experience – cut time to open the car door with a phone app from 30 seconds to 1 second. Flo by Moen Smart Water Detectors catch leaks as small as one drop per minute, preventing water leak damage and conserving valuable resources.

Data-driven industries still have plenty of room for automation

71% of commercial and consumer lending workflows still remain manual. It leaves a still massive opportunity for automation leader MeridianLink to empower digital lending for every financial institution and consumer reporting agency and drive cost-effective growth throughout the consumer lifecycle, including mortgage, and business lending portfolios.

See Also

With 25 years of experience, MeridianLink is uniquely positioned to help organizations thrive in this fierce financial landscape. Their digital lending solutions are integrated through a unified data platform and designed to address the specific key pain points banks and customers are experiencing.

When a customer is considering opening an account or applying for a loan with a bank, it’s important that interaction be frictionless, creating a lasting, positive image of the brand that encourages them to return with all their financial needs.

Automating processes in the digital age and breaking down silos within organizations are not just nice-to-haves, they are required to compete. 56% of financial institutions plan to increase their tech spending in 2024. 48% of consumers encountered digital friction when they tried to open an account online, and the same number (48%) took their business to another bank. Less than 5 minutes is the target time to complete an online application. More than 5 minutes increases application abandonment by as much as 60% or more.

Business Insider


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