Data is King – Insurance and the Modern Monarchy
In 1996, Bill Gates said that “content is king.” Then he predicted a viral pandemic during a TED talk five years before it happened. Bill is a smart guy and while he was terrifyingly accurate about the pandemic, we think his quote about content may be a bit outdated.
New technologies like apps and sensors are all around us and the “Internet of Things” is more like our “Life of Things,” recording and reporting on us every minute of every day. Nowadays, digital applications are available to help us manage almost every aspect of our lives.
The constant in all this is not the “content.” It’s the data.
Drifting Into My Lane
Accidents happen, I am pretty sure we have all checked our phone, sipped coffee, or maybe applied make-up and starting drifting into another lane. Obviously not safe or recommended when driving…and when it comes to DATA the outcome can be just as disastrous. I want to share more on the concept of “Data Drift”. If you have ever worked with me or heard me speak, you know that I equate data to the Chaos Theory or Entropy, your phone gets slower, the universe moves towards disorder, our laptop runs out of memory, and machine learning models deteriorate over time.