Technology has always been disruptive, setting the stage for revolutions in industries and the evolution of businesses, societies, and everything. At the forefront of technologies are the innovations and creativity of people involved in solving problems. From medieval times to the modern era, technology has eased out a lot of complex processes bringing in efficiency, growth, and most important of them, new horizons. Today at the helm of FinTech and Banking, Intelligent Infrastructure is pushing these boundaries further than we imagined.
Adoption of new technology is a cost-intensive, capital investment. And as the word suggests, investments come with returns. As banking and financial services expand operations, Intelligent Infrastructure can be a game changer because of the large databases and datasets; the source of problems transforming into the basis of solutions. The effects of smart solutions echo across KPIs and sustain across time as the system learns and adapts to achieve peak performance. The applicability of intelligent infrastructure makes it pretty evident but the long-term business solutions it supports are much deeper. Here’s a bit more on that:
Smart Infrastructure to Predict, Strengthen, and Speed Up Offerings
Two of the simplest use cases of AI-driven solutions are the continually improving predictions and lowering turnaround times toward customizations. If you are considering the value of the investment in Intelligent Infrastructure, consider the fact that it is highly adaptive to changes and flexible with integration. In the long run, smart solutions like these enable businesses to respond quickly to the changing economic landscapes. As per a PwC report of 2020, about 28% of existing banking and payment services will be at risk (of disruption) due to new business models supported by fintech. AI was found to be the leading technology behind fintech at 38.25% market share in 2019 (Research and Markets, 2020).
Peak Performance is the AIOps offering from SLK Software, also packaged with Intelligent Infrastructure services developed to automate IT processes, remedy systematic issues in real-time, and report insights. The technology opens up opportunities for you to invest in strategic undertakings. Get on a call with us and let us walk you through all the benefits.
It is reasonable to assume that the new business models of today have a good chance of becoming obsolete tomorrow. Thus, Intelligent Infrastructure and AIOps are simply a necessity to enable adaptability, peak performance, and quick deployment of services as the times change. Not to mention, these changes also incite regulatory practices, policies, and legal frameworks for businesses to comply with. With so many variables at play, a system of equal variability is the balance that intelligent solutions bring to the game.
Adapting Skills, Evolving Operations to a Future Ready Business
Against popular beliefs, most leaders consider time and people as their greatest resources. Considering the investments in intelligent technology, the development of human resources is equally quintessential to achieving long-term business goals. This comes as strategic and cross-functional training initiatives to enhance and grow the capabilities of employees at hand. Add to it the fact that 22 million workers in the UK alone feel that their skills will become outdated in the next five years (City & Guilds skill index 2021).
Developing skills that sync with intelligent technology like research and analytics, development and testing, and other strategic requirements enhance the organization’s peak performance. Organizations with comprehensive learning programs earn 218% more per employee than those without (Association of Talent Development) and significantly lower attrition rates or other inefficiencies.
With the implementation of Intelligent Infrastructure, the scope for human resource development increases significantly. AI-driven solutions easily handle repetitive and generalized tasks. Thus, the freed-up resources can be channelized towards larger business objectives, innovations, and expansion. Intelligent Infrastructure also requires skilled professionals to take full advantage of the technology, from analytics and insights to identifying and integrating innovative solutions with it. While intelligent technology solves the problems of today, it is the people who’ll enable it to solve the problems of tomorrow.
Synchronization with Today for Resonance with Tomorrow
Looking at the current trends, technologies like blockchain, microservices, neo-banking, etc have a potential and place in financial systems on a global scale. Strategic initiatives that involve implementing adaptive technology and continuous development of human resources alongside it is the only way forward.
Even the IT sector itself is witnessing similar changes as the technologies and their foundations are rapidly evolving. This is the reason why adaptive technologies like AIOps, and Intelligent Infrastructure have been forecasted to grow at a minimum of 21% CAGR as digital transactions surpassed cash transactions in 2021. The right mix of technological and human resource investments is the key to riding the wave of technology towards the future.
Authored By: Obulesu Yelliboina