As the 5G applications are going mainstream, Artificial Intelligence, multi-cloud, IoT and quantum computing are going to drive digital transformation in 2023. By 2024, low-code development is expected to account for more than 65 percent of application development activities, a report from HCL Technologies says.
The year 2023 will witness a wide-scale democratisation of AI, right from enabling chatbots to integrating into the chip industry for developing AI-ready hardware.
Another report says, Artificial Intelligence and cloud computing have been at the forefront of digital transformation for several years now. In 2023, experts predict AI will reach a tipping point as businesses across all sectors seek to capitalize on its capabilities. Technology organizations need to be prepared to take advantage of this opportunity by utilizing cloud-based AI technologies in their operations.
Secondly, the Internet of Things is a network of connected devices which can share data and interact with one another. Using sensors, wireless technology, and other communication protocols, IoT-enabled devices can be used to monitor and control various aspects in both the physical and digital worlds..
As the 5G applications are going mainstream, Artificial Intelligence, multi-cloud, IoT and quantum computing are going to drive digital transformation in 2023. By 2024, low-code development is expected to account for more than 65 percent of application development activities, a report from HCL Technologies says.
The year 2023 will witness a wide-scale democratisation of AI, right from enabling chatbots to integrating into the chip industry for developing AI-ready hardware.
Another report says, Artificial Intelligence and cloud computing have been at the forefront of digital transformation for several years now. In 2023, experts predict AI will reach a tipping point as businesses across all sectors seek to capitalize on its capabilities. Technology organizations need to be prepared to take advantage of this opportunity by utilizing cloud-based AI technologies in their operations.
Secondly, the Internet of Things is a network of connected devices which can share data and interact with one another. Using sensors, wireless technology, and other communication protocols, IoT-enabled devices can be used to monitor and control various aspects in both the physical and digital worlds.
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Emerging technologies gearing up IT companies for revolution | Future Technology | CSM Technologies
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Emerging technologies gearing up IT companies for revolution
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As per Capgemini and Efma reports, 95% of executives believe their current outdated legacy systems and technological capabilities are unable to fully optimize their data for customer-centric growth strategies. Retail banks are currently lagging in their ability to offer true omnichannel experiences, as customers pivot to competitors that offer more personalized experiences. 75% of customers surveyed are attracted to FinTechs’ cost-effective and seamless services, significantly raising their digital banking expectations. However, traditional banks are struggling to deliver, with 70% of banking executives concerned they lack sufficient data analysis capabilities. Therefore, with customers now able to switch providers at the tap of a screen, it is critical for banks to better leverage data and Artificial Intelligence to tailor the experience, create stronger connections and maximize customer value. The surge of FinTechs within the industry has caused a paradigm shift in what consumers now expect from their banking experience, challenging the revenue and relevancy of many traditional providers. In the report’s ‘Voice of the Customer’ survey, about 75% of respondents said they are attracted to these new agile competitors as they offer fast, easy-to-use products and experiences that are readily available while remaining low in cost. On the other hand, nearly half of respondents said their current banking relationships were neither rewarding (49%) nor emotionally connected (48%). 52% said banking was not “fun.” To keep pace with these rivals, retail banks will need to rethink their business models and focus on driving greater customer engagement.
With enhanced data governance models, banks can collect proprietary customer insights to improve the competitiveness of their digital marketing capabilities. Combining this with Artificial Intelligence and Machine Learning will unlock new possibilities in identifying, retaining and engaging customers with real-time experi
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