Hurricanes Harvey, Maria, and Irma all had substantial effects on the US and Caribbean in 2017 and now rank among the top five costliest on record, according to the National Hurricane Center (NHC). With the National Oceanic and Atmospheric Administration forecasting a similarly active 2018 hurricane season, businesses must take steps now to prepare.
What We Learned in 2017
The sheer number of devastating storms, along with simultaneous earthquakes and wildfires, challenged organizations, their employees, insurers, claims adjusters and consultants, governments, utilities, vendors, and suppliers in 2017. Obtaining qualified expertise, equipment, labor, power, and fuel proved difficult for many organizations without adequate and tested risk management and business continuity plans. Companies also experienced delays in loss assessments, reporting, claims filing, and funds distribution.
Some of the delay was attributable to the varied terms and conditions in insurance policies, which had not been fully vetted prior to sustained losses and were open to interpretation by insureds, insurers, and legal counsel.
If you could be affected by this year’s hurricanes, whether you are located in US regions prone to storms or reliant on suppliers and vendors in such regions, you should consider taking the following preparatory steps. Continue reading “Four Ways to Prepare for Another Active Hurricane Season”
Innovations in technology are driving an opportunity for development and growth in almost all industries today. One such advancement known as blockchain, may provide the chemical industry with a vehicle for great innovation gains.
Blockchain is a continuously growing list of records (blocks), which are linked and secured using cryptography. Each block contains a secure reference of the previous block (a cryptographic hash), a timestamp and transaction data. By design, blockchain is inherently resistant to data hacking. It is an open, distributed ledger that can record transactions in an efficient, effective, verifiable and permanent manner. Blockchain is purportedly more secure, and less expensive that existing data storage methods. Continue reading “Will the Chemical Industry Embrace Blockchain?”
Expanding digitization creates exponentially more data about everything and everyone. Using big data techniques allows us to analyze the data we collect much better and faster than ever before. At the same time, the ability for software to learn and evolve is also advancing rapidly. That means it can address ever more sophisticated problems using computing and storage power available at a dramatically increased scale and dramatically reduced costs.
Companies will have to understand innately the new paradigm of the developing economy. We are working in an era of increased sharing and distributed trust. The internet is driving a shift toward networks and platform-based economic models that are influenced by the new social paradigms in a manner not witnessed before. Continue reading “How Technology Advances Will Transform How We Live & Work”
The digital revolution is bringing major changes to the healthcare sector. Electronic record systems, the Internet of Medical Things and artificial intelligence are all impacting life sciences. Furthermore, even bigger changes are on the horizon, such as in-memory computing and advances in networking. Medical equipment manufacturers and pharmaceutical drug companies are experiencing opportunities in personalized healthcare and are bringing positive changes to therapeutic outcomes. With the life sciences industry poised for change, companies are working to capitalize on new technological developments to gain a critical competitive edge. Continue reading “New Digital Business Models are Being Created for Life Sciences”
The world’s most powerful acoustic tractor beam has successfully moved a small object and enabled it to hover in space. Within a few years, scientist predict they will be able to move larger objects – and maybe even humans.
The acoustic tractor beam uses sound to vibrate things, enabling them to levitate in the air. The use of sound waves means the technology can be applied to most things, unlike magnetic waves, which can only be applied to metals.
Up until recently, scientists could only control tiny objects, but the new technology uses a fast vortex that spins like a whirlpool of sound, making it possible for larger objects to stay in place and not spin out of control. The new acoustic sound beam creates a twister-like motion around the object, causing the object to float without spinning out of control. Continue reading “New Tractor Beam Can Move Real-Life Objects”
Today’s extraordinary pace of political and technological change obliges organizations to be better prepared for shocks and surprises.
The 13th edition of the World Economic Forum’s Global Risks Report, prepared in partnership with Marsh & McLennan Companies, examines the systemic risks that have the potential to cause such shocks and surprises.
For businesses, the report raises important questions about what risk leaders should be doing to build resilience and adaptability in the face of seemingly unmanageable risks. Appreciating the inevitability of potential shock events, being more rigorous about identifying major sources of value destruction, and developing agile responses to fast-moving, uncertain situations are a few of the key takeaways for business leaders.
Download the report now…
Many utility companies and investors view widespread distribution of renewable energy with caution. But recently, traditional energy sectors have started rethinking their investment in renewable energy by considering large scale investments. Interest in future innovations is now reaching an inflection point. Utilities are considering a multitude of ideas for integrating innovative renewable power sources.
Industry leaders have begun to see renewable energy as a rapidly maturing sector. They are beginning to focus on the next innovations in energy technology and business models, such as blockchain as a financial tool for energy transactions. Developments in renewable energy ensure we make the most out of fossil fuels and other energy sources that will improve efficiency. Here are 5 technologies that promise to change the face of the energy industry in the next two decades.
Continue reading “Renewable Energy Innovations That Could Change the World”
The world continues to change at an increasing pace, and construction, the world’s largest global industry, is under pressure.
Marsh’s report, Emerging Risks in Construction: Expert Perspectives on the Construction Industry, consists of a collection of articles examining the challenges, risks, and opportunities facing the sector as it grapples with macroeconomic, geopolitical, financial, and environmental challenges.
Each article provides a critical insight into sector risks, as well as the opportunities available to those companies that can best position themselves to take advantage of them. The topics examined include:
- Innovation and new technology.
- Environmental risks.
- Economic issues.
These articles first appeared on BRINK – the digital news service of Marsh & McLennan Companies’ Global Risk Center, managed by Atlantic Media Strategies. BRINK gathers timely perspectives from experts on risk and resilience around the world to inform business and policy decisions on critical challenges.
Click here to read the full report…
Does your business have an idea for a product that you’d like to see designed and developed for manufacturing? You might want to consider rotational molding (rotomolding) for the job. Rotomolding is a technology that’s used to mold plastics and bring product ideas to life. Rotomolding is perfectly suited for manufacturing hollow articles; it’s used to design a wide variety of products. There is almost no limit to the size of the item the rotomolding technology can produce, making it ideal for thousands of different applications.
The process of rotomolding involves a plastic material (usually in powder form) that is placed into a hollow mold that is used to create many types of products for many purposes in business and the home. Once the mold has been filled with the plastic powder, it is closed and heated in a special oven. Once the mold is heated, the polymer inside it slowly melts and expands into the mold evenly. Precision measurements help to create a perfectly smooth product. When the polymer is fully melted it is then cooled to solidify the plastic form inside. Continue reading “Rotomolding and Your Manufacturing Business”