As behavior changes and as technology continues to transform the financial services industry, it is no surprise that bank branches are closing. Analysts suggest that the number of bank branches open in the US could be cut by within the next decade. This is to be expected as more and more of what we do as customers is online. According to research conducted by Accenture customers engage with their banks an average of 17 times a month, but only two of those interactions involve human contact.
Lately, we have been thinking and talking about broadcast in multimedia. By now, you might have seen that TokBox is powering applications that go beyond the contemporary one-to-one and small group settings that are typically associated with the current generation of WebRTC apps, to a much larger scale of hundreds or even thousands of people watching and participating in the conversation. At a glance, this might not sound particularly groundbreaking; video has been distributed to large audiences for years. However, a closer look is necessary: with a shift in the underlying technology, TokBox adds the option of real-time communication to the existing large-audience reach of broadcast video, to enable a whole new class of applications.
“The big decision we made was to shift a lot of our video efforts to focus on Live, because it is this emerging new format; not the kind of videos that have been online for the past five or ten years” (Mark Zuckerberg, BuzzFeed)
This week Facebook introduced a suite of new add-ons to its Live feature that allows users to live-stream video. When Facebook announces a new feature, the world usually listens, or in this case watches. In the few months since Facebook Live was launched millions of live streams have been produced and subscribed to, from celebrities to chefs to everyday users.
In our last blog post, (a peek at the future of healthcare) we considered the key drivers behind innovation in the health care industry. Telehealth has seen explosive market growth in recent years and shows no sign of slowing down. Despite its enormous potential for growth, the healthcare industry faces regulatory challenges that impede innovation.
Since the 1996 introduction of HIPAA, (Health Insurance Portability and Accountability Act), the healthcare industry has become highly regulated. The scope and complexity of healthcare regulation has made it incredibly difficult for organizations to adopt new technologies. Compared to other industries, they have been relatively slow to adopt technological innovations as a result. This trend has manifested itself in the adoption of the public cloud, BYOD (Bring Your Own Device), and even the storage of online health records. With this in mind, one can assume this trend will repeat itself when it comes to browser based real time communications powered by WebRTC.
Over the last couple of years, we’ve seen a huge number of innovative organizations across many verticals integrating real time communications into their websites, apps or devices to create new forms of communication and collaboration. Healthcare and, more specifically, telehealth is an industry in which we have seen a considerable amount of innovation.
We know that the global Telehealth landscape is rapidly changing and will continue to experience significant growth in the next few years. The US will be in the forefront of this shift with a projected annual growth rate of 56%.