From the course: Introduction to Fintech
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Wearables and the internet of things
From the course: Introduction to Fintech
Wearables and the internet of things
- [Instructor] And lastly, another future trend that we foresee in fintech will be wearables and the Internet of Things, IoT for short. Here are some specific examples and analogies of how fintech firms aim to incorporate wearables and IoT to transform finance. Now we're very familiar with wearables in contactless payments, such as the ones on your smartwatch, for example. However, these devices can also be used to track personalized offers and promotions based on user data, enabling more targeted and relevant marketing campaigns, almost like a personal shopper that provides tailored recommendations based on the wearer's preferences and needs. For insurance fintech firms, wearables and IoT devices can be used to monitor the health and wellbeing of users, providing valuable data and actuarial statistics, thereby enabling more personalized healthcare services, like a personal health coach that provides real-time insights and recommendations based on the user's health data. Far from…
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