Scaling AI: Propelling Data in the Next Normal

With the highest spending of 15.3% in 2022, the banking industry will continue to invest the most in analytics solutions over the next five years. ⁱ Leveraging valuable data and AI assets more broadly across organizations, the industry is expected to focus on customer experience (CX) improvement and risk mitigation through data-driven CX systems and fraud analysis applications respectively.

To facilitate AI adoption at scale, banks should modernize legacy systems that are lack of capacity and flexibility to support AI applications. With the integration of new digital technologies, banks will be able to mine the massive data sets, generate predictive insights to identify opportunities for specific customer microsegments in real time and prevent complex fraud cases.

The telecommunication industry is the second biggest spender in analytics solutions accounting for 12.6% in 2022, directing toward more intelligent ways to enable data models, improve efficiency and effectiveness of network operations, increase throughput and reduce downtime. ⁱ

Telecom operators have been using AI to meet unprecedented levels of bandwidth demand. By future-proofing data under well-defined governance process and adaptation of a modular IT architecture, operators will be able to scale AI application delivery with strong results.

Utilizing analytics for evidence-based policy and operations, government agencies will lead investment to grow by 16% until 2025 ⁱ, focusing on public safety and emergency response systems. To accelerate innovation in the public sector, governments integrate data and digital technology to build sustainable smart cities through digitized services for better user experience and efficient internal operations.