Weekly Rewind: Top 10 Stories On CXOToday (Jan 15-20)
In the tech world, a lot happens in a week. So much news goes on that it’s almost impossible to keep track of everything. In fact, this week saw some exciting updates that will interest decision makers in business, analysts and tech enthusiasts from across the world which we bring before you.
Stories on Artificial Intelligence, Internet of Things, cloud computing, cyber security and robotics, continue to be the flavor of the week, as we have for you a host of articles on how these technologies are having a long term effect on various aspects of business.
We also bring to you our daily dose of news and analyses, interviews, case studies, infographics and expert columns like every week. So, if you have missed out any of our updates, do not worry. Here are some of the top stories of the week on CXOToday you would not want to miss.
The introduction of breakthrough technologies and initiatives like demonetization and GST in 2017 proved to be the key drivers of digital payments in the Fintech industry. Digital payments reached a transaction volume of 1,162 crore between April and November and are expected to exceed 1,800 crore in the current fiscal year. EY’s Fintech Adoption Index (2017) ranks India second (52%) behind China (69%) in terms of percentage of the digitally active population. This clearly depicts the potential and need of financial technologies in India.
India is in the midst of a digital transformation. The commoditization of data and the rapid penetration of mobile phones has lowered the barriers to connectivity. This connectivity provides direct and automatic collection of data which is the “oxygen” to cognitive computing. In 2017 if we saw a push towards digitization in India via the note exchange and the rapid rise of digital payments. We expect 2018 to take digitization further with the Aadhar connectivity. This data will be the fuel to the algorithms powered by SAP Leonardo, Google’s Tensor Flow or IBM Watson which will be used in applications, writes by Debashis Banerjee, Senior Director and India Site Lead at SAP Ariba.
The long forecasted death of the password may soon see the light of the day in India, as consumers continue to have a strong interest in new biometric technologies that make their lives easier and may say ‘goodbye’ to the old school security system. A new survey by digital payments major suggests that biometric authentication New forms of authentication, such as fingerprint, facial, and voice recognition, can make unlocking accounts and payments much easier and more convenient than traditional passwords or PINs - which are difficult to type onto tiny keyboards, easy to forget, and can be stolen.
Earlier this month, a journalist for The Tribune, recently reported a database breach of Aadhaar report details a transaction in which she was able to get a login and password to access a Unique Identification Authority of India (UIDAI) portal. With this access, one can enter a person’s Aadhaar number and obtain their name, photo, sex, age, address, and potentially their contact details. The UIDAI denied that it is a breach, which was again highly debatable. Nonetheless, following the allegations, the authority has announced several steps to secure Aadhaar data.
Nikhil Madan, General Manager – Data Lake & Scale-out Storage Solutions, Dell EMC questions, are Indian organizations well prepared to deal with this data deluge? The answer is ‘No’. Presently, Indian organizations are struggling to deal with information overload, making it difficult for them to manage and unlock insights from this data type. Hence, today’s business needs intelligent data solution which not only can store this vast data but also provide real-time analysis to deliver better services/ products to the end customers.
Website performance is an important but sometimes overlooked component of a website’s ability to attract and convert traffic. This makes sense especially at the age of e-commerce and online payments, through multiple channels such as mobile and web, where every second counts.
The customer service industry will experience the biggest digital shift yet in 2018 as customer experience (CX) brand leaders seek to expand channels, leverage analytics, adopt automation, and integrate the front office with back office operations. In its recent report, Lauren Kindzierski, Vice President, Solutions and Capabilities, Hinduja Global Solutions, covers those digital innovation and customer engagement operational trends that will assist CX leaders in planning their transformation projects in 2018-19.
The once-booming telecom sector in India is set to worsen in 2018 as jobs will be slashed for the next six to nine months reveals a recent report. The total number of job loss will stand at 80,000-90,000 states the study by CIEL HR Services. About 25 percent of the employees leave or lose their jobs in the telecom sector without securing another, according to the estimate of the study.
Digital transformation has brought along with it a new era of technology, which has reconstructed India Inc. It was the rage in 2017 and continues to be the hot topic this year as well. Local brands and governments look to best leverage digital transformation to better serve their customers, and differentiate themselves from the competition. Regional Managing Director, India, Australia and New Zealand at Verizon Enterprise Solutions lists out the trends in the enterprise technology space that are most likely to impact the local and global business functions throughout 2018:
Today, most banking, financial services, and insurance (BFSI) organizations are striving to adopt a fully data-driven approach to grow their businesses and enhance customer services. Experts believe, like most other industries, big data analytics will be a game changer for companies in the financial sector. However, despite and growing interest and the increased rate of adoption of analytics to gather immense volumes of data assets, BFSI companies are at varying levels of Big Data maturity. One of the key challenges is that how can this data help them solve critical business problems?
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