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Even in the case of moderate to low risk, technical debt impacts can change quickly as business needs evolve. Another question is: What separates out debt thats fixed opportunistically versus critical debt that could cripple the business? Using the companys data in LLMs, AI agents, or other generative AI models creates more risk.
The Middle East is rapidly evolving into a global hub for technological innovation, with 2025 set to be a pivotal year in the regions digital landscape. AI and machine learning are poised to drive innovation across multiple sectors, particularly government, healthcare, and finance.
In today’s fast-paced digital landscape, AI platforms are playing a pivotal role in reshaping industries and driving business transformation. As businesses across the UAE embark on their digital journeys, AI has emerged as a key enabler, streamlining operations, enhancing decision-making, and fostering innovation.
The opening of this new office in Dubai not only marks a key development for the company but also reflects its dedication to helping local businesses with their digital transformation journeys. In the years to come, Salesforces role in Dubai will likely grow, contributing to the continued development of the UAEs digital economy.
Customer concerns about old apps At Ensono, Klingbeil runs a customer advisory board, with CIOs from the banking and insurance industries well represented. Banking and insurance are two industries still steeped in the use of mainframes, and Ensono manages mainframes for several customers.
Strong domain expertise, solid data foundations and innovative AI capabilities will help organizations accelerate business outcomes and outperform their competitors. The key to driving real impact lies in seamlessly integrating data and AI into the way businesses work, said Rohit Kapoor, chairman and CEO, EXL.
Digital transformation represented among the largest investments in technology to modernize businesses starting in the early 2000s. With the rise of generative AI, CEOs recognize an opportunity to shift from technology-led digital transformation to executive-led business reformation.
How has banking evolved during the rapid digitisation of recent years? Banks are no longer the key players in the market, with fintech companies, digital-first start-ups, and tech giants delivering their own brand of financial services. One example is Banking-as-a-Service, with the market expected to reach US$3.6
How has banking evolved during the rapid digitisation of recent years? Banks are no longer the key players in the market, with fintech companies, digital-first start-ups, and tech giants delivering their own brand of financial services. One example is Banking-as-a-Service, with the market expected to reach US$3.6
Named one of the 25 Most Powerful Women in Banking in 2024, she has made her mark in the industry and the community, serving on boards such as Playhouse Square and DuPont, and championing causes that uplift women in technology. Dan Roberts: Your first answer-the-call moment was banking on a career in banking, out of college.
Along with nearly every other industry, banking is facing greater competitive pressure than ever. The need for innovation is growing, along with the ability to deliver more effortless experiences for customers and employees. Technology innovation is making a significant difference here.
The world must reshape its technology infrastructure to ensure artificial intelligence makes good on its potential as a transformative moment in digital innovation. New technologies, such as generative AI, need huge amounts of processing power that will put electricity grids under tremendous stress and raise sustainability questions.
To help enterprises overcome these challenges and achieve positive business outcomes, EXL launched EXLerate.AI, its agentic AI platform. The platform demonstrates EXLs continued innovation and investment in the development of new AI solutions across key functions in insurance, healthcare, banking and capital markets, and other industries.
According to Foundry’s State of the CIO 2024 study, technology leaders will be focused on driving digital innovation, redesigning processes, and modernising infrastructure and apps in the next three years in order to stay ahead. Tackling these requires innovation, built from a base of experience and knowledge.
As I work with financial services and banking organizations around the world, one thing is clear: AI and generative AI are hot topics of conversation. In the finance and banking industry, however, organizations are seeking extra guidance on the best way forward. In short, yes. But it’s an evolution.
The financial services sector is undergoing rapid change as fintechs develop convenient, consumer-focused services that were once the province of traditional banks. Many established financial institutions have very good core business capabilities, but their technology platforms tend to be archaic and rigid.
Once synonymous with a simple plastic credit card to a company at the forefront of digital payments, we’ve consistently pushed the boundaries of innovation while respecting tradition and our relationships with our merchants, banks, and customers. Is AI a problem-solver? One example is toil.
A shift has occurred and IT is now viewed as an equal partner in driving business growth with CIOs recognized as the de facto leaders of innovation. Here, they and others share seven ways to create and nurture a culture of innovation. Prioritize time for experimentation. Mike Crowe, CIO, Colgate-Palmolive. Colgate-Palmolive.
The implications of generative AI on business and society are widely documented, but the banking sector faces a set of unique opportunities and challenges when it comes to adoption. If banks are to put their faith in AI, then transparency will be key to building trust. This is a problem banking leaders are increasingly aware of.
During the show, Cheriyan reflected on his decades-long career and the principles and philosophies he’s applied to successfully innovate, collaborate, and lead people and transformations. Dan Roberts: What emerging technologies do you believe will have the most significant impact on businesses in the next five to ten years?
As chief digital officer of Kotak Mahindra Bank, Deepak Sharma has been instrumental in driving the bank’s digital transformation, future-ready initiatives, and business model innovation strategies. As I was setting up the NRI banking and remittance platform in 2010, I started getting involved with technology.
It has become a strategic cornerstone for shaping innovation, efficiency and compliance. From data masking technologies that ensure unparalleled privacy to cloud-native innovations driving scalability, these trends highlight how enterprises can balance innovation with accountability.
Long-term game Business leaders are turning their focus from experimenting with GenAI to exploring long-term use cases that transform business performance and workplace culture for the better. The report shows GenAI is on track to augment human labour in a range of areas, with implications for business models in every industry.
Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information, Mashreq explains how the bank is integrating advanced technologies and expanding its digital footprint. How did these changes help improve your business performance last year?
When Arvest, a regional bank operating in Arkansas, Kansas, Missouri and Oklahoma, hired Laura Merling as chief transformation and operations officer in 2021, one of the first things she changed was its digital transformation plan. We wanted to be the leading community-focused bank serving commercial and small businesses.”
By Jude Sheeran, EMEA managing director at DataStax When making financial decisions, businesses and consumers benefit from access to accurate, timely, and complete information. In today’s business landscape, data volumes can explode rapidly. Embrace AI-driven innovationInnovation is at the heart of Bud’s operations.
How does a business stand out in a competitive market with AI? By eliminating time-consuming tasks such as data entry, document processing, and report generation, AI allows teams to focus on higher-value, strategic initiatives that fuel innovation.
Many companies today are rapidly adopting new technologies and tools to improve overall efficiencies, improve customer and client experiences, and support key initiatives that are related to business transformation. Banking on technology and people The largest technology investment for U.S. The technology transformation at U.S.
To create innovative products that meet the various finance requirements of the market, Piramal Capital & Housing Finance opened the Piramal Innovation Lab in Bengaluru on Dec. CIO.com caught up with Mittal to know more about his plans for the innovation lab, as well as the technology strategy for the financial services company.
As companies migrate to the cloud, many providers are serving up industry clouds—cloud services that offer data models and workflows that meet the basic needs of companies in particular industries like banking, healthcare, and manufacturing. So the options were to either invest and build from the ground up, or look at industry clouds.
Migration to the cloud, data valorization, and development of e-commerce are areas where rubber sole manufacturer Vibram has transformed its business as it opens up to new markets. Vibram certainly isn’t an isolated case of a company growing its business through tools made available by the CIO.
The US CIO 100 awards, now in its 35th year, recognizes 100 organizations for their achievements in technology innovation. Recognizing the finest work in IT, the CIO 100 Awards and CIO Hall of Fame showcase the companies and executives leading the charge in innovation as the tech industry continues rapidly advancing.
CIOs face the daunting challenge of driving innovation while managing costs and ensuring practical implementation in a rapidly advancing digital landscape. This article presents essential strategies for CIOs to strike the optimal balance among innovation, value, cost, and practicality in tech investments.
Before any innovation initiative starts, there are questions (and usually lots of them). What is innovation and, more importantly, what does it mean for your organization? What fears or misperceptions hold innovation back? Their stories prove that innovation without disruption is possible.
AI and Machine Learning will drive innovation across the government, healthcare, and banking/financial services sectors, strongly focusing on generative AI and ethical regulation. These trends underscore the Middle Easts ambition to become a global technology hub through strategic investments, innovation, and partnerships.
When leaders consider how technology has enabled the transformation of business models over the past several years, few would disagree that the world has changed dramatically. Retail, entertainment, music, and banking have largely moved online. They’re in the software business, and they compete on user experience.
A more operational, business-specific way of leveraging generative AI is beginning to take shape in the form of AI agents that quietly work behind the scenes, moving beyond gen AI’s creational capabilities toward autonomous decision-making in enterprise workflows. Live Proxies uses AI agents to detect and respond to cybersecurity threats.
IT’s continuing evolution away from order-taker to strategic business partner has also had an impact. Culture should be mission-driven, and for us, it’s all about driving the business forward through the tools we’re creating.”
In an interview with CIO Middle East last year , Leopoldo Boado Lama, senior vice president of business applications for Eastern and Central Europe, Middle East and Africa, made clear that the UAE and Middle East are priority regions for Oracle. Oracle will also expand the capacity of the Jeddah region, which opened in 2020.
The company’s innovative “cloud agnostic” strategy, supported by VMware’s increased capabilities post-acquisition, will promote growth for the clients, no matter if their workloads are on-premise or in a public cloud environment. IBM and VMware understand that each client has a unique business, IT process and applications,” says Badlaney.
Innovation has a different meaning for every organization. At Discover® Financial Services, it lies at the heart of the company’s business goals and growth. Innovation is about modernization, it’s about optimization,” said Dan Gisolfi, Distinguished Engineer, Head of Innovation and Intellectual Property at Discover Financial Services.
One of the sectors most impacted by big data has been banking. Big data is even more important to the banking sector as more of their services become digitalized. The market for analytics technology in the banking sector is projected to be worth over $5.4 Banks turn to Data Analytics as Demand for Digital Services Grows.
The industries these decision-makers represented include insurance, banking, healthcare and life sciences, government, entertainment, and energy in the U.S. The listening centered on conversations about emerging technologies and use cases associated with innovation, such as artificial intelligence, metaverse, blockchain, robotics, Web 3.0,
The launch of ChatGPT in November 2022 set off a generative AI gold rush, with companies scrambling to adopt the technology and demonstrate innovation. For product companies, understanding customer feedback is crucial,” says Aswini Thota, director of AI and data science at banking and insurance provider USAA.
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