October - 2014 - issue > CEO Spotlight

Regulation has a Direct Impact on the Pace of Innovation

Vishal Sibal

Founder & CEO-BenefitCloud

Sunday, October 5, 2014

Forward

Benefitcloud, based in Plano, TX, enables customers to leverage the benefits of their health plans by bringing in enhanced accessibility and transparency into the entire process

The latest developments in the consumer technology space surface as a combined form of recent trends in social, mobile and big data. These trends continue to drive intelligent and personal services in the industry. Among these tendencies, Mobility is worthy of special mention as the hottest trend, bestowed with the potential to outperform other contemporary technologies. There is immense excitement around the approaching wearable technologies.

Thoughts on Future

My thoughts on the immediate future of the industry are centered on regulation, the only feature with a direct impact on the pace of technology-driven innovation, taking place in sectors like Healthcare, Technology and several others. These sectors are in for massive technological disruption. For instance, substantial disruptions can be expected in the healthcare sector, with respect to consumerism, which is in its early stages. Furthermore, the sector would evolve further with colossal changes in the entire healthcare cycle, starting from buying insurance to delivery of care, to the fundamentals of how medicine is taught, learned, practiced and delivered.

Going deep into the concepts in regulation, I am of the opinion that the advancements in regulation would not affect the innovative approaches in the sector. The pace of innovation towards software technologies remains unaffected.