Quick Takes: Latest Tech Trends and What You Need to Thrive

How are AI and other innovative technologies transforming the market? How can businesses adapt to rapid changes and seize the opportunities the ongoing digital shift presents? And what role do data and core modernisation play in this transformation??

These were the questions we asked our experts to answer in just a single paragraph. An easy challenge? Far from it. Scroll down to discover their insights, each offering a unique perspective from different industries. Or, if you're short on time, hop over to our carousel for a quick and snappy rundown.?

Banking | Matt Williamson , SVP and Industry Principal, Banking and Payments??

“AI is transforming everything from the simple to the complex, not just automating tasks but providing actionable insights. We’ve recently seen a major bank capitalise on efficiency by using AI for meeting notes and follow-ups. These tools augment human effort. We're now using AI to assess core systems, to help enterprise document and visualise their legacy architectural state, further validated with code reviews. In the future, AI may even create RFIs to assess future products. Guided by human domain expertise, banks and enterprises could establish a baseline, eliminate doubt and accelerate decision-making, generating effective strategy and roadmap planning and execution.”??

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Payments | Andy Davies , Global Head of Payments??

The payments landscape is being reshaped by AI, driving interest from enhancing customer experience to optimising back-office operations, from streamlining reconciliation processes to tackling regulatory challenges. AI's potential is vast, but its success hinges on robust data. Proper data collection from the start is crucial, as accurate data models are the backbone of any AI strategy. This is where we begin, by modernising your core, you can streamline, clean and enrich your data at all the right points. Get this right and AI can revolutionise compliance, fraud, onboarding, operations and real-time payment decisions. But it is crucial for an effective AI implementation that you set a solid data policy to fully realise its benefits in today's fast-paced, real-time ecosystem.?

Insurance | Robert Anderson , Principal Industry Advisor, Commercial?

The first one is generative AI which, when applied to the right use case, shows how insurers can increase their productivity, particularly in managing contracts and products. We are also using it to accelerate our development and testing processes, enabling us to deliver projects to clients more quickly. The second technology is digital twins, which can help insurers better model, simulate and analyse potential risks, leading to more tailored insurance products. The third technology is a low code/no code platform that helps quickly test out new ideas and keep pace with insurtechs. Together, these solutions boost back-office operations, encourage agility and aid risk modelling.?

Supply Chain | Vince Francis , Global SVP Strategy?

Digital twins, AI and Internet of Things (IoT) are revolutionising supply chain operations by enhancing efficiency, visibility and predictive capabilities. When core modernisation is successfully executed, the integration of these elements becomes simpler, leading to enhanced end-to-end visibility, improved decision-making and a more agile supply chain. From there, businesses can respond swiftly to market changes, capitalise on emerging opportunities and ensure they can quickly adapt to market changes and leverage new technologies for competitive advantage.?

Retail and Consumer Goods | Jeremy Eaton , Principal Industry Advisor?

Whether to create connected stores with tech-supported changing rooms and staff, or to offer blended shopping that bridges the gap between physical and digital – innovative technologies are transforming the industry. AI is making the largest impact through its ability to segment audiences, generate tailored content and personalise the customer experience. It's also driving efficiencies and reducing costs by streamlining the supply chain and supporting customer-retailer interactions with specific, tailored responses – saving retailers both time and money. To seize these opportunities, we've been supporting our customers to modernise their systems and opt for composable architecture so they can continuously adapt and leverage emerging technologies.??

Travel | Christi Lane, PMP , SPC, CSM , Senior Industry Advisor??

AI?is a key technology for the travel industry. For hotels, AI can enhance the guest experience through personalisation and curated offers as well as responding directly to queries and requests. It’s also driving operational efficiency in inventory management and housekeeping optimisation, tracking and analysing check-in and check-out patterns, for example. Similarly, airlines are leveraging AI for customer service and engagement through chatbots to assist customers and by providing tailored offers and curated entertainment. It’s helping to reduce catering waste, improving maintenance using predictive AI and offering more precise weather forecasting. Together, these can support sustainability for airlines, another key trend. ?

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Health and Life Sciences | Jessica Rengstorf , Director, Healthcare and Life Sciences Strategy??

AI-powered analytics, seamless data sharing and wearable technologies are transforming healthcare and life sciences by uncovering patterns in patient data that improve diagnosis, treatment and research outcomes. As these industries move toward more personalised care, seamless data flow is essential for maintaining consistency and enhancing collaboration. Wearable devices provide real-time health insights, enabling timely interventions. To fully benefit from these advancements, modernising core systems is crucial, allowing businesses to quickly adapt to market changes and continue driving innovation. Together, these technologies are guiding healthcare and life sciences toward a more patient-focused, data-driven future.? ?

Telecommunications | John Nevins , Principal Industry Advisor?

Telcos can uniquely leap-frog the AI gold rush, but they must be brave. The digital wave saw companies dramatically enhance their customer experiences to become self-serve and frictionless. But to ride the various AI and ML waves, the data assets that must be leveraged lie deep in the core IT. This requires an IT transformation, and to take advantage of this opportunity, telcos must be bold in their deployment of AI.?

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Capital Markets | Fred Fuller , Global Head of Sales, Banking and Capital Markets??

AI is clearly the hottest topic in technology regardless of the industry. It is one of the most transformative technologies to hit the market in a decade or more. What's often lost in the buzz though is the role that cloud technologies, digital capabilities and data play in making the AI revolution possible. Technical advancement requires having the right foundational building blocks in place to leverage the new ‘innovative technologies’ and respond to market demands.?Without a proper cloud and data strategy, AI will not provide the anticipated value, so now is the time to reconsider your foundation to ensure you can leverage AI today and move with the market tomorrow. The one thing we know for sure is that the evolution of technology will not slow down, so build your foundation immediately.??

Curious to learn more about the AI-driven digital shift and how we can help your business make the most of it? Head over to our blog for more insights from our Head of Strategy, Scott Harkey ?