With the world choosing smart work over hard work, we can definitely say that there will constant changes over the type of technology we use in our day to day life. From small offices to big corporate companies, all are choosing faster and better technology for better efficiency.
Here are some new technologies those could have the potential to change the world.
Block Chain technology
Digital Twin Technology
Event Driven Applications
Progressive Web Applications
Low Code Development
All these technologies are showing early signs of better gathering of data , identification of threat as well as better accuracy in problem solving. It’s only a matter of time that these technologies will revolutionize the modern civilization.
One of the first trends that we are going to see with respect to digital transformation in 2017 is the increased role of adaptability with regards to success. There are going to be changes whether you want them to happen or not, and whether you chase them or not. A major example of this is the way cloud computing evolved the last year.
Users will become more important
It is expected that users would become more important in 2017. In this connection you need to understand the simple thing that the concept of customer experience also includes the people working in your company. As far as digital transformation is concerned satisfying your customers is going to be the major task.
Innovation has to become quicker
It is expected that in 2017 innovations in the domain of digital transformation will happen at a far slower pace than before. The marketplace is always evolving and the one way in which a company can stay relevant in such an environment is by becoming more proactive in its innovations. Less time needs to be taken in testing, judging, and analyzing new technology.
Embracing remote workforce
These days, young professionals want to have flexible working hours and that demand is greater than a good pay package. With increase and consequently greater usage of resources such as bandwidth and mobile technology businesses will be able to employ and also retain the best professionals across the world. Any professional these days would like the opportunity to work from a comfortable location.
Augmented reality and virtual reality
The fact that Pokemon Go has been so successful shows that virtual reality (VR) and augmented reality (AR) are here to stay. Any company that is yet to understand this simple fact can count its days. Previously, only the gaming companies were using them but now their appeal has spread far and wide since they have become easier to use.
More application process interfaces (APIs)
The very notion of digital transformation is related to shadow information technology (IT) and there is always an inherent need to get things done lot more quickly than what is the general norm. So, it is expected that in 2017 more application process interfaces would be the norm of the day.
Stress on analytics and big data
It is really not easy to sum up how important big data is to a business context. It is common knowledge that the business world has an unbelievable amount of precious data but that does not mean that companies are making the most of this. This is expected to change come 2017.
Driven by Internet of Things (IoT)
It is expected that Internet of Things will play a crucial role in driving the digital transformation forward. Just as big data is invaluable to people in the marketing data, similarly Internet of Things gives them exceptional insights into how the customers may be thinking.
Artificial intelligence (AI)
It is expected that in 2017 artificial intelligence (AI) will play a much larger role and they will help with the development of more smart machines per se. Our relationship with everything technological would only become more nuanced in the year ahead and machines will soon be capable of learning and adapting to various environments.
Destruction of silos
The role that the chief information officers played previously is expected to change in a significant manner. In fact, it can be safe to say that the change has been dramatic especially in the past 10 years or so. There are new roles such as Chief Customer Officer and Chief Digital Officer that can be expected to change things around come 2017.
The banking industry has become highly competitive in the recent times and therefore they are leaving no stones unturned to make sure that their customers have the best experience while using their services. Computing, communications, knowledge and information are being used at every step of the way in the banking sector nowadays in order to provide a cohesive service to the end users. Not only it is important to provide people with the best quality services but they should be provided in the shortest possible time. Moreover, the bank employees should be well informed about the account details of every client so that they can serve them promptly when they ask of their services. This makes it necessary for the banking employees to draw on all the account information as soon as they need them.
The implementation of information technology has greatly changed the way banking industry operates on an overall basis. While at one point of time they mostly used pen and paper to handle all kinds of transactions and official records, now they mostly used digital records of account related documents. The thoroughly digitized and networked methods used by banking service providers have improved the systems efficiency and speed of banks to a great extent. Apart from changing the way banks work in terms of internal accounting, the latest IT systems have also brought a sharp change in the delivery systems that are used by banks for interacting with their customers. Most banks in all parts of the world are struggling to come up with a technological solution for meeting the challenges associated with a fast-changing environment. The banks of today need to invest generously in getting the best IT systems so that they can integrate technological systems within the parental structure to meet the highly intensive requirements of global banking.
Banks are now using the latest models of computers to take care of all of their dealings. These are supported by a range of dedicated servers, security systems, data management systems, cloud computing systems which in turn is helping the banking management to manage all of customer records in an efficient manner. The banks are also using specialized software systems for managing customer accounts and records, attend to customer queries and provide solutions online and through phone systems and even carry out efficient employee management within the banking system itself. Some of the cutting edge technologies that are currently used by banks include remote banking, self inquiry facility, anytime and anywhere banking, telebanking and electronic banking. The customers who use the services of a given bank can also avail its services through well designed apps that can be used directly from their smartphones.
Computing and IT systems are not only used to aid customers so that they always get the best services but these advanced technologies are also used for assisting the bank employees in a number of different ways as well. These include assisting the bank to carry out a number of standing instructions in given dates and times, generating reports, speedy transferring of vital information from one system to another which can aid in prompt decision making, generating periodical returns and MIS reports, and interconnecting multiple computerized branches as well as controlling offices that help in accurate management of large volumes of data. Such features have made banking modern and helped the customers to manage their accounts in a much more efficient way. The IT systems have also helped to replace old and redundant models of working which can not only lead to keeping voluminous amounts of data and written records but also increase inefficiency and cost a lot of money in the process.