Buzzwords: Mortgage applications, a cinematic universe and baby pacifiers

Artificial intelligence 

Boosting mortgage approvals

Picture this. You’re seamlessly scrolling through Zoopla or RightMove and you find the house of your dreams. You’re ever so persistent in putting an offer on the house, but you have yet to find out whether you can get a mortgage to help invest in the property. It is very often that people lose out on their ideal home due to the long mortgage-lending processes put in place.

Although the value of mortgage commitments has risen over the past year in the UK – 35,010 new first-time buyer mortgages were completed in August 2019, according to a UK finance trends statistics report published last month – customers increasingly expect companies to provide the most seamless digital experience, with assisted intelligence solutions offering a simpler and faster way to go through the usually time-​consuming processes of mortgage-lending applications.

So to stay ahead of the competition, Puneet Taneja, head of operations at Teleperformance Digital Integrated Business Services, says that mortgage providers need to give their customers the best possible experience by integrating AI technology within their end-to-end processes.

“The mortgage application cycle is labour intensive. AI-powered bots can be positioned as a solution to mimic low-value administrative tasks, freeing mortgage brokers to focus on deepening their one-on-one relationship with the bank’s customers,” Taneja says. “Accompanied with human intelligence, these bots simulate what mortgage brokers do daily like appointment booking, underwriting to final approval of the offer.

“Rather than having to wait for days to find out if an applicant is eligible for a mortgage, automating the required checks takes away the bother from mortgage brokers so they can deliver the offer to the customer in 30 minutes.”

I know what you’re thinking… why are you talking about mortgages? It’s undoubtedly the dullest topic yet the most stressful asset to get your hands on. But if it means that people seeking a loan will be able to find out whether they can get one, and have it approved more quickly to avoid disappointment – then, hell, sign me up!

Virtual reality 

Bringing VR to a cinematic universe

If you’ve ever dreamt about becoming a superhero for the day and fighting alongside ‘the Avengers’, the day has come… For the first time, fans of the ‘Marvel Cinematic Universe’ (MCU) in US, Canada, Malaysia and the UAE have been given the opportunity to stand alongside their favourite heroes in the VR experience ‘Avengers: Damage Control’.

Partnering with Lucasfilm’s entertainment studio ILMxLAB and mixed-reality attractions company The Void to bring the experience to life, the story produced by Marvel Studios is set after the events in the blockbuster film ‘Avengers: Endgame’.

Players in VR headsets and backpacks are introduced to the encounter by Black Panther’s sister Shuri (Letitia Wright), who, in the story, has devised suits based on her brother’s uniform combined with Iron Man’s tech from Stark Industries depicted in the franchise.

Small groups are then dispatched to fight off a threat – using Iron-Man-like blasts to shoot down enemies – which is augmented by a variety of haptic effects including wind, heat and smell.

I am as much of a fan of the MCU as the next comic book/film enthusiast – and seeing the franchise take a step into the VR realm comes to show how much Marvel Studios are willing to embrace different technologies to appeal to not only MCU fans but also VR enthusiasts.

This VR experience is very likely going to be the first of many for the franchise, and here’s hoping that it makes its way to the UK soon, for my nerdy self.

Biotechnology

Monitoring a baby’s health with a pacifier

Wearable biosensors that non-invasively monitor health and fitness are increasing in popularity among adults. However, adapting this technology for babies is proving to be a challenge. This is because the devices are often bulky or may have rigid surfaces that could damage an infant’s delicate skin.

So to overcome this issue, researchers reporting in ACS journal Analytical Chemistry say they have developed a pacifier-based biosensor that tracks real-time glucose levels in saliva, which in turn could help diagnose and treat diabetes in the smallest of patients.

As part of the study, the researchers made a pacifier with a teat that contained a narrow channel and was designed so that when an infant sucked on it, small amounts of saliva would be transferred through the channel to a detection chamber. There an enzyme attached to an electrode strip would convert glucose in the fluid to a weak electrical signal, which could be detected wirelessly by a smartphone app.

Newborns aren’t only super cute, they’re also incredibly fragile: not only physically, but perhaps even physiologically. Indeed, if this pacifier detects certain problems this soon into a newborn’s life, if anything, an early detection, diagnosis and treatment may be a blessing for the child in their later life.

Artificial intelligence 

Boosting mortgage approvals

Picture this. You’re seamlessly scrolling through Zoopla or RightMove and you find the house of your dreams. You’re ever so persistent in putting an offer on the house, but you have yet to find out whether you can get a mortgage to help invest in the property. It is very often that people lose out on their ideal home due to the long mortgage-lending processes put in place.

Although the value of mortgage commitments has risen over the past year in the UK – 35,010 new first-time buyer mortgages were completed in August 2019, according to a UK finance trends statistics report published last month – customers increasingly expect companies to provide the most seamless digital experience, with assisted intelligence solutions offering a simpler and faster way to go through the usually time-​consuming processes of mortgage-lending applications.

So to stay ahead of the competition, Puneet Taneja, head of operations at Teleperformance Digital Integrated Business Services, says that mortgage providers need to give their customers the best possible experience by integrating AI technology within their end-to-end processes.

“The mortgage application cycle is labour intensive. AI-powered bots can be positioned as a solution to mimic low-value administrative tasks, freeing mortgage brokers to focus on deepening their one-on-one relationship with the bank’s customers,” Taneja says. “Accompanied with human intelligence, these bots simulate what mortgage brokers do daily like appointment booking, underwriting to final approval of the offer.

“Rather than having to wait for days to find out if an applicant is eligible for a mortgage, automating the required checks takes away the bother from mortgage brokers so they can deliver the offer to the customer in 30 minutes.”

I know what you’re thinking… why are you talking about mortgages? It’s undoubtedly the dullest topic yet the most stressful asset to get your hands on. But if it means that people seeking a loan will be able to find out whether they can get one, and have it approved more quickly to avoid disappointment – then, hell, sign me up!

Virtual reality 

Bringing VR to a cinematic universe

If you’ve ever dreamt about becoming a superhero for the day and fighting alongside ‘the Avengers’, the day has come… For the first time, fans of the ‘Marvel Cinematic Universe’ (MCU) in US, Canada, Malaysia and the UAE have been given the opportunity to stand alongside their favourite heroes in the VR experience ‘Avengers: Damage Control’.

Partnering with Lucasfilm’s entertainment studio ILMxLAB and mixed-reality attractions company The Void to bring the experience to life, the story produced by Marvel Studios is set after the events in the blockbuster film ‘Avengers: Endgame’.

Players in VR headsets and backpacks are introduced to the encounter by Black Panther’s sister Shuri (Letitia Wright), who, in the story, has devised suits based on her brother’s uniform combined with Iron Man’s tech from Stark Industries depicted in the franchise.

Small groups are then dispatched to fight off a threat – using Iron-Man-like blasts to shoot down enemies – which is augmented by a variety of haptic effects including wind, heat and smell.

I am as much of a fan of the MCU as the next comic book/film enthusiast – and seeing the franchise take a step into the VR realm comes to show how much Marvel Studios are willing to embrace different technologies to appeal to not only MCU fans but also VR enthusiasts.

This VR experience is very likely going to be the first of many for the franchise, and here’s hoping that it makes its way to the UK soon, for my nerdy self.

Biotechnology

Monitoring a baby’s health with a pacifier

Wearable biosensors that non-invasively monitor health and fitness are increasing in popularity among adults. However, adapting this technology for babies is proving to be a challenge. This is because the devices are often bulky or may have rigid surfaces that could damage an infant’s delicate skin.

So to overcome this issue, researchers reporting in ACS journal Analytical Chemistry say they have developed a pacifier-based biosensor that tracks real-time glucose levels in saliva, which in turn could help diagnose and treat diabetes in the smallest of patients.

As part of the study, the researchers made a pacifier with a teat that contained a narrow channel and was designed so that when an infant sucked on it, small amounts of saliva would be transferred through the channel to a detection chamber. There an enzyme attached to an electrode strip would convert glucose in the fluid to a weak electrical signal, which could be detected wirelessly by a smartphone app.

Newborns aren’t only super cute, they’re also incredibly fragile: not only physically, but perhaps even physiologically. Indeed, if this pacifier detects certain problems this soon into a newborn’s life, if anything, an early detection, diagnosis and treatment may be a blessing for the child in their later life.

Siobhan Doylehttps://eandt.theiet.org/rss

https://eandt.theiet.org/content/articles/2019/11/buzzwords-mortgage-applications-a-cinematic-universe-and-baby-pacifiers/

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