With the recent controversy involving Facebook and Cambridge Analytica, there is increasing pressure on companies that are dealing with data to deliver superior business and customer outcomes. Not just social media networks, but any company in the process of digital transformation. This includes firms leveraging new technologies and platforms, such as drones, AI and autonomous vehicles, to deliver value.
For retailers who want to take on the digital future, investing in a robust e-commerce solution that can improve processes, boost efficiency and facilitate better communication is absolutely crucial. A digital transformation through an e-commerce solution can help you grow your business and achieve an expanded geographical footprint.
Over the last year, the buzz around AI seems to have reached a crescendo. Every day, we’re seeing new applications and innovations around AI. AI or cognitive computing is quickly becoming all pervasive. Being the next generation of computing systems, cognitive computing allows organisations to make strategic decisions, augment, accelerate and scale human expertise, by enabling unprecedented levels of human-machine collaboration.
The set of ‘born digital’ companies such as Uber, Amazon, AirBnB, Alibaba have provided lessons in digital disruption to the rest of the world. We live in the digital world where market disrupters are developing platforms that facilitate exchange between the customers and makers, partners or even peers, reshaping industries into interconnected ecosystems.
Over the next few years, we can fully expect the use of Machine Learning and AI to become mainstream as more organisations discover its many applications. IDC has estimated that by 2019, 40% of digital transformation initiatives will use AI services and by 2021, 75% of enterprise applications will use AI. The possible applications could range from insights to predictions to recommendations on running the business better.
While the adage ‘old is gold’ may be true in many scenarios, it does not apply to your enterprise technology stack. Software, unfortunately, does not get better with age. As your business evolves, you may often find your legacy technology infrastructure holding you back from your growth aspirations. On one hand, your needs evolve with time; but equally important, legacy technology loses its usefulness as the ecosystem around it evolves.
Travel planning has evolved over the years. Most travellers no longer depend on travel companies for recommendations on where they should travel. In many cases, they don’t even depend on them when it comes to booking their travel. They generally do their bookings online and are spoilt for choice when it comes to deciding on which portal to book from.
Machine learning has emerged as one of the biggest buzzwords in the recent years. As per International Data Corporation (IDC), spending on AI and ML is expected to grow from $12B in 2017 to $57.6B by 2021. Deloitte anticipates that the number of machine learning pilots and implementations will double in 2018 as compared to 2017.
It is not surprising that Gartner lists AI as well as Intelligent Apps and Analytics among its Top 10 Strategic Technology Trends for 2018. The impact of these technologies has started to become apparent even in our daily lives.