AI adoption at several organizations across industries is speeding up like never before.
According to the McKinsey’s State of AI in 2021 Survey, AI adoption is continuing its steady rise. As per the report, 56 percent of all respondents report AI adoption in at least one function, up from 50 percent in 2020.
Several industries, including life sciences, government, banking, and manufacturing, are adopting and using blockchain as it offers enhanced security, greater transparency, and instant traceability.
Unsurprisingly, worldwide spending on blockchain solutions is expected to grow from 4.5 billion U.S. dollars in 2020 to an estimated 19 billion U.S. dollars by 2024, says Statista report.
Companies across sectors are embedding technologies across their businesses to drive fundamental change. Such digital transformation efforts are in full swing with investment pouring in like never before. International Data Corporation (IDC) reports that global spending on the digital transformation of business practices, products, and organizations is expected to reach USD1.8 trillion in 2022, an increase of 17.6% over 2021.
Technology has progressed by leaps and bounds in the last few years. Communication options available to companies today would have been deemed impossible just 10 years ago. A physical office space is no longer the home of an organization’s communication. The advancements to online communication has made offices a virtual connected space that can be accessed from almost anywhere. However, with such powerful tools at our disposal, a burning question comes to mind – are you utilizing this technology to its fullest extent?
Robotic process automation (RPA) can cut costs for financial services firms by up to a staggering 75% says a KPMG report. With the help of RPA, Europe’s one of the largest manufacturers, Siemens has automated its 220 processes and 28000 hours.
With digital disruption rapidly changing the business landscape, more companies consider migrating operations to the cloud. The ability to use on-demand, scalable cloud models to achieve efficiency and business continuity, provides the impetus for organizations to accelerate their digital business transformation plans rapidly.
When you hear the word ‘Artificial Intelligence,’ it is easy to think that this is something related to big tech companies and what they do. Therefore, it may have substantial future implications for such companies but has little or no impact on our present daily lives.
Imagine how long it would take for Da Vinci to create a Mona Lisa if he was painting it in 2022! And what else could have turned out on his brilliant canvas if there was someone who could do the artistic-side legwork for him – like mixing colors or finding the right temperature and spot; or not letting anyone disturb the painter at a crucial moment of epiphany? Thankfully, today’s UI-UX artists cannot just say, ‘Alas, we wish we had someone but what to do’ and walk on in despair.
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