Business Technology Roundtable

Business technology investment continues to evolve. During the last decade, I've had a front-row seat to the meteoric global rise of Artificial Intelligence (AI) and its transformative impact across industries. The AI Consulting professional services market has emerged as a critical enabler of this transformation revolution, helping organizations navigate the complexities of AI adoption and implementation. The global AI consulting market is experiencing ongoing growth, with forecasts indicating it will reach $72.5 billion by 2025. This remarkable expansion is fueled by a compound annual growth rate (CAGR) of 40.3 percent from 2020 to 2027, highlighting the insatiable appetite for broad AI expertise and proven experience. The AI Consulting Market Analysis One of the most striking statistics is that over 80 percent of AI consulting firms report increased demand for their professional services in the past year. This surge in demand is not limited to a single sector but spans across va...

What does today's retail banking customer expect from a financial institution, and how can business technology be applied to enhance the overall experience. The latest results from the Cisco Customer Experience Report focused on the retail banking sector. The global report examined consumers' desire for a banking experience that is more personalized to help simplify the management of their finances over multiple channels -- including online, mobile phones, telephones, video conferencing and bank branches. It also examined views about the privacy of their personal information and the value of financial management tools used in their daily lives. Consumers globally identified the most important attributes when interacting with their financial institution or financial advisor as: availability (63%), competence (65%), and efficiency (68%). Survey respondents indicated a willingness to exchange more details about their financial habits and having banks be more active advisors...

Turmoil and struggles in the financial services sector are splashed daily on the front page of newspapers around the world. The industry faces a number of monumental challenges that are threatening and shaping its future. To remain competitive, forward-looking firms need to: Reduce costs Improve cross-sell and up-sell results from existing customers Shift capital expenditures to operational expenditures through variable costing and on-demand capabilities Progressive companies in the financial services sector are aggressively using managed services technology to address some of these current challenges. Serving Market Growth The financial services sector currently spends more than 2.5 times more on technology than other industries. The way they can attack challenge number one is to shift the management of desktops, data centers, and call centers to a managed services model. Companies are using this option not just to reduce costs, but as a way to reallocate investment into growth initia...

Community banks have attracted new customers by offering a truly personal banking experience that their larger rivals can't match, and by maintaining close ties to local communities. However, all bank customers are demanding Business Technology driven services that many community banks simply can't provide with their current infrastructures. The lack of the latest technology can make migrating to new services prohibitively complex and expensive. Community banks have depended on multiple providers for their voice and data networks. These banks found that they were paying substantially more for their network connections than larger institutions. Moreover, having to deal with multiple providers can strain the smaller bank's modest IT staff. Implementing and operating a new converged voice/data/video IP network would overwhelm an IT team that usually handles simple tasks. In addition, deploying a new IP network could negatively impact the community bank's operating budget. ...