Skip to main content


Showing posts from December, 2023

Digital Transformation Key Trends for 2024

Most CIOs recognize the essential role that emerging technology has in enabling digital business transformation. However, what they often don't know is how prepared their employees, IT systems, and internal processes are to embrace change. Gartner has highlighted the six key trends that will have a significant impact on enterprise IT infrastructure and operations (I&O) organizations over the next 12 to 18 months. "I&O leaders have little time, skills and budget to track emerging trends and the full impact of those on I&O," said Jeffrey Hewitt, vice president at Gartner . Savvy leaders should apply the top trends within I&O for 2024 to identify which are most likely to impact their organization, and then implement effective actions in response. According to Gartner's research, the top trends in 2024 are as follows: Machine Customers Machine customers are non-human economic actors that obtain goods or services in exchange for payment, such as virtual per

AI Empowers 5G Mobile Network Providers

5G is quickly becoming the predominant network for mobile communications. In 2023, there will be 1.6 billion 5G connections, with growth forecast to reach 6 billion in 2028. Mobile network roaming connections are anticipated to grow 350 percent over the next five years, with the growing presence of 5G and IoT roaming devices being major driving factors of this growth. To capitalize on this demand, data and financial clearing houses must identify the key drivers, as this will allow them to produce targeted services, optimized to help providers in monetizing these trends. 5G Mobile Roaming Market Development According to the latest worldwide market study by Juniper Research, the average revenue leakage per 5G roaming connection will decrease from $1.72 to $1.20, as mobile network operators leverage artificial intelligence (AI) based solutions.  Mobile service provider revenue leakage refers to the value of services provided but not monetized by the network operator. This reduction in rev

Why GenAI Investment will Double in 2024

In 2024, every business can be a technology-driven business. The quest for business technology leadership skills, and digital transformation, will gain new momentum as more organizations seek ways to drive net-new digital growth. Large enterprises will invest more than $19.4 billion worldwide in Generative Artificial Intelligence (GenAI) solutions in 2023, according to the latest market study by International Data Corporation (IDC). This spending, which includes GenAI software as well as related infrastructure hardware and IT or business services, is expected to more than double in 2024 and reach $151.1 billion in 2027 -- that's with a compound annual growth rate (CAGR) of 86.1 percent over the 2023-2027 forecast period. Artificial Intelligence Market Development Despite the recent IT headwinds in 2023, business leaders accelerated their exploration of GenAI solutions to help boost their digital business transformation. "In 2024, the shift to AI everywhere will enter a critic

Carbon Management Revenue to Reach $5.5B

Growing awareness of sustainability and the threat of a global temperature increase is motivating strategic shifts in government and commercial organizations. Leaders are adopting carbon management tools to address the anticipated 18 percent GDP loss from climate change by 2050. These carbon management tools are used to calculate, manage, monitor, and report emissions, and help measure operational results throughout the global supply chain. According to the latest worldwide market study by ABI Research, the carbon management software solutions market is projected to grow at a CAGR of 19.7 percent, reaching $5.5 billion by 2032. Carbon Management Apps Market Development Scope 3 emissions, which can be 5 to 25 times higher than Scope 1 and Scope 2 emissions, constitute up to 90 percent of the overall environmental impact, according to the Carbon Disclosure Project (CDP). Accurate measurement of Scope 3 emissions is crucial for government and business leaders to enhance resilience and eff

Legal Review: The Rapid Rise of Generative AI

The rapid adoption of Generative AI (GenAI) is the top-ranked issue during the next two years for Legal, Compliance, and Privacy leaders, according to the latest worldwide market study by Gartner. In a recent survey of enterprise business leaders, 70 percent of respondents reported rapid GenAI adoption as a top concern for them. "Increases in capability and usability have prompted rapid and widespread company adoption of GenAI," said Stuart Strome, director at Gartner . However, uncertainties and unforeseen risks abound. Leaders will have to contend with these challenges to ensure the ethical and legal use of this powerful technology. Generative AI Market Development Gartner industry analysts have identified four key areas that these leaders need to address. Limited Visibility into Key Risks -- The ease of adoption, widespread applicability, and the ability of GenAI tools to perform a range of different business tasks mean that assurance teams will have limited visibility in

Virtual Card Spending will Reach $13.8 Trillion

Virtual payment cards, also known as temporary cards, are randomly generated temporary card numbers linked to a payment account that is used to process payments in place of genuine payment details. A virtual card is an online payment tool that has similar attributes as a traditional Credit or Debit card, with key components including a 16-digit card number, an expiry date, and a CVV number. These cards are digitized versions of a physical card or a card that only exists in its virtual form and is stored in digital wallets. The distinctive feature of virtual cards is the enhanced layer of security. Virtual Card Market Development According to the latest worldwide market study by Juniper Research, by 2028 global virtual card spending will have increased by 355 percent -- that's from $3.1 trillion in 2023. The key growth driver will be the adoption of API-based virtual card issuing platforms. Juniper analysts explored the use cases where virtual cards use temporary card numbers linked

How Digital Business is Augmented by GenAI

Digital Transformation has been the focal point for savvy enterprise C-suites and IT organizations hoping to gain competitive advantages by modernizing their core business processes with technology. The goal was to become a Digital Business where value creation is based on new processes, products, services, and customer experiences. Now, the Digital Business era is everywhere.  Companies are seeking new digital revenue streams while transforming operations to reduce costs and increase efficiency. For the CEOs at forward-looking organizations, 2024 will be pivotal. Digital Business Market Development According to the latest worldwide market study by IDC, spending on digital business technologies is growing while traditional investment is stagnating or even declining. Demand for digital experiences from customers, employees, partners, and suppliers is pervasive. "Digital transformation was only the first step -- to truly gain value from change, companies need to move to an innovativ

EV Sector to Invest $188 Billion in Digitalization

In an era defined by rapid technological advancements, the automobile sector has emerged as a vanguard of innovation, boldly steering into the digital technology era. And, this is just the beginning of an amazing digital transformation. Automobile manufacturers face the considerable challenge of transferring their legacy products to Electric Vehicles (EVs) while balancing the need to maintain revenue and profits to afford the switchover from internal combustion engines. Automobile Digitalization Market Development According to the latest worldwide market study by ABI Research, automobile manufacturers will have invested $83.3 billion in digital technologies in 2023, growing by a CAGR of 8.5 percent to surpass $188 billion in 2033. "The transfer to EVs is driving demand for software, as manufacturers need to design new vehicles and simulate the vehicles' performance. The new production lines will also need to be simulated before launch," said Michael Larner, research direc

The Legal Challenges for Generative AI Policy

Are you taking baby steps toward Artificial Intelligence (AI) adoption? If so, you're not alone with the enterprise business leaders stuck on the sidelines, while the early adopters gain more momentum. As employees across the globe experiment with Generative AI (GenAI), the most cautious corporate general counsels are issuing guidance that will be valuable to those unsure enterprise leaders. "To craft an effective policy, general counsel must consider risk tolerance, use cases and restrictions, decision rights, and disclosure obligations," said Laura Cohn, senior principal researcher at Gartner . Enterprise Generative AI Market Development Having GenAI guardrails and policies in place will better prepare most slow-moving enterprises for possible future legal requirements. Meanwhile, the market leaders are racing ahead of their peer group. Based on practices in AI policies instituted by companies and city governments, the cautious general counsel should direct organizatio