Technology Trends to watch in 2022 by industry leaders
Indira Krishnamoorthy – Data Science Leader, Brillio, said, The digital universe around us is highly driven by data characterized by increasing user expectations and instant gratification. Post the digital boom and the increased adoption of an omnichannel strategy, organizations facing data deluge have been recognizing the importance of analytics to evaluate data and make intelligent decisions. According to Gartner, by 2023, overall analytics adoption by organizations will increase from 35% to 50%, driven by vertical- and domain-specific augmented analytics solutions. Analytics and AI will no longer be the data scientists’ keywords, rather every role in an organisation, irrespective of domain, will have to understand how these impact their work or enables them to perform better.
Personalization with the aid of customer analytics plays a crucial role in delivering superior customer value and helping organizations gain a competitive edge in the market. A three-fold use case of analytics, descriptive, predictive, and prescriptive, will yield tremendous growth for the organization’s return on investment (ROI) and boost customer loyalty. In 2022, IT teams will prioritize analytics as an essential business function for enhanced intelligence, turning data into insights, and deploying the correct product/solutions for attaining higher market value.
Praveen Patil Kulkarni, Country Manager – Security Risk & Governance at Micro Focus, said, “As organizations move ahead in their digitization journey, artificial intelligence (AI) will continue to play a predominant role in strengthening cyber resiliency. From the adoption of technologies like User and Entity Behavior Analytics (UEBA), there will be increased investment in AI by Security Operations Centers (SOC) teams and deployment of ML and other AI methods by SIEM, IAM, and other systems. AI adoption in 2022 will focus on battle-tested techniques such as statistical learning, anomaly detection, and NLP.
Organizations have witnessed a shift in cybersecurity capabilities from presentation to detection and response due to the evolving threat landscape. Going forward in 2022, organizations globally will shift to prioritize cyber investments basis their ‘business impacting’ data. Realizing the value of the data stored and its location will enable IT teams to adopt a further resilient cybersecurity framework and minimize risks for the organization as a whole saving reputation and revenue loss.
The year 2022 will also witness the evolution of SOCs. With an increased concentration on enabling threat detection even in complete remote settings, SOCs will evolve to being threat gathering centers of excellence. SOCs will be enhanced with more automation and orchestration to ensure absolute protection of all endpoints.”
Sukanya P Senior Vice President & Tech Area Lead, Group Digital Transformation, Swiss Re Global Business Solutions, said, Speed, scalability, flexibility, rich technology options and cost efficiency – these are the reasons why many organizations are moving towards building cloud solutions today.
Fundamentally designed for resilience, cloud-native systems can scale automatically and adapt to continuous change, allowing faster time to market and maintenance cost reductions. The ability to share services combined with cross-cutting features such as monitoring, logging and security enable rapid development of stateless microservices that can be loosely coupled with each other.
Insurance companies may need to adopt multi-cloud strategies to comply with regional regulations or to avoid vendor lock-ins. This can be achieved by developing abstraction layers and containerization of application logic and decoupling it from provider-specific toolset. Edge computing could become the norm where the data is curated, processed, and analysed closer to the source to avoid latency.
A migration to public cloud will require organizations to relook at their security policy. From setting up firewalls, the focus will switch to a zero-trust architecture. This entails embracing DevSecOps principles where security plays a significant role throughout the development lifecycle and implementing 12-factor app methodology for software development.
Moving to public cloud would involve re-designing the architecture, simplifying business processes, and standardizing cloud frameworks for faster adoption and quicker returns. At Swiss Re, our digital strategy focuses on building flexible multi-cloud systems and we see a mindset shift in solution architecture and technical design as key to a successful transformation.
Assaf Tarnopolsky, Senior Vice President and General Manager, APAC at Genesys, said, In 2022, we believe exponential technologies like cloud, AI, data, and engagement channels will enable a more empathetic world and the most successful businesses will be those that can offer ‘Experience as a Service’ – a commitment to deliver on the expectation of today’s consumers where they feel heard, remembered and understood.
This entails leveraging and optimising workforce engagement management tools with machine-learning analytics, creation and management of conversational AI as part of the broader customer experience (CX) strategy, and a shift to the cloud to deliver personalised digital-first customer experiences.
Beyond the linear metrics of building efficiencies and productivity, growing technology will be harnessed to deliver empathy and establish human connections with the brand. Fuelled by deeper consumer insights, technology will be more intuitive and a force multiplier that can provide proactive, personalised, and predictive outcomes in real-time.
What that means is that brands will now need to ‘retool’ with the right set of advanced technologies and ‘rethink’ their CX strategy – From focussing on company-centric outcomes to delivering customer-centric experiences. We will see CX and employee experience (EX) growingly become the topmost priority for organisations and contact centres morphing into “experience centres”.
In the interconnected era, organisations will be able to outperform competitors by aligning their CX strategy toward a single channel-agnostic experience, prioritising employees on par with customers, and utilising the right set of advanced technologies.”
Sudhindra Holla, Director, Axis Communications, India & SAARC, said, As businesses are investing on technology- driven strategies in the next normal, surveillance will come to play a crucial role across all sectors.
Return to office will be one of the most popular developments in the upcoming year. With major IT companies looking at a hybrid work model in 2022, there will be an increase in demand for quality surveillance solutions for the commercial buildings. With the swift adoption of cloud-based solutions, the surveillance industry will be working towards equipping them with the tools and flexibility to decide on the best solution for their unique situation.
Aiming for a robust cybersecurity solution, customer solutions tool kit will have these essentials elements – signed firmware, regular software updates, secure boot, encrypted video and secure identity. Additionally, the surveillance industry will secure standardizations on approaches to establish the authenticity of video footage captured by video surveillance cameras, ideally based on open-source software and initiatives. The surveillance industry will additionally work on a seamless integration process with the increase in use of 5G
Utilization of technologies like AI and ML in surveillance has existed for quite some time. 2022 will witness greater focus on initiatives to ensure that AI is being implemented responsibly and ethically for the greater good. As the pandemic has caused disruptions in supply chains, we will also see more organizations opting for System-on-Chip that are optimized for specific applications.
Surabhi Saxena, Principal – Program Manager, Sabre Bengaluru GCC, said, The travel industry continues to face challenges due to the pandemic. Demand originally varied by season, however, now it is also influenced by the spread of COVID. It’s also true that factors affecting flights such as prices, availability, and ancillary services, etc. have always been dynamic. Even then, the focus has always been on prioritizing customer preferences and providing a safe and personalized travel experience to travelers. To survive and grow, travel organizations must find a model that adapts and changes as per the changing dynamics.
Adoption of Cloud technologies has accelerated recently, and it is pivotal to the survival and growth of the travel industry. Cloud services ensure that travel businesses are agile and nimble since cloud services are scalable. Cloud computing services can also be used to mine data to determine upcoming destination trends and come up with data insights which can be leveraged to deliver better offers and discounts to customers. Cloud will continue to have a huge role to play in boosting customer experience and driving revenue generation for the travel industry in the near future.
