“The world is seeing a faster digital transformation —starting from massive use of artificial intelligence, or AI, to cloud adoption— following the Covid-19 pandemic. Shenzhen-based tech giant Huawei forecasts 97 percent of all large enterprises will implement AI by 2025. AI will also power 77 percent of all cloud applications. ‘The pandemic has pushed a…
Tag: Digital Transformation
How COVID-19 is accelerating adoption of new tech in Banking
“According to IDC, bank spending on consumer-facing technologies for branches and online services is forecast to grow; increasing from $31 billion in 2020 to $40 billion in 2024.The focus on niche technologies will help organizations to accommodate ever-changing transformation innovation. Growing investments in digitization, specifically AI, will play a key role in transforming the legacy…
Banks need to strike the right balance for digital transformation
“For many financial institutions, this has been a wake-up call,” says Fei. “In the past, many had thought that if they have an online portal and a mobile application then that’s enough. But now they’ve realized it’s not. Some banks have online portals and mobile apps where you can apply for loans, but they still…
3 tech trends that COVID-19 will accelerate in 2021
“The question is, how should companies focus their resources in 2021 to prepare for this changed reality and the new technologies on the horizon? Here are three trends that I predict will see massive attention in 2021 and beyond. AI must become practical Solutions become more autonomous with deep learning Promise of curing future pandemics…
Retailers No Longer Compete Against Each Other, But Against Amazon Marketplace
“Mastercard’s Spending Pulse data for holiday 2020 found that while department stores’ overall sales fell 10.2 percent during the season, their eCommerce sales only rose 3.3 percent. Amazon enjoyed a 14.3 percent market share for all clothing and apparel sales during 2020’s third quarter versus just 9.5 percent a year earlier. By contrast, Walmart’s share…