Top 5 key takeaways from Gartner Symposium/ITxpo 2017 with special reference to financial domain | Blog
Every year in November leading analyst firm Gartner hosts the largest gathering of CxOs at the Gartner Symposium/ITxpo in Goa and this year was no different either. We witnessed some of the Leading Analysts showcase how technology is going to shape up the future of enterprises. The 4-day Symposium was completely based in and around the themes of Artificial Intelligence, APIs and IoT.
Here are my top 5 key takeaways from these Keynote sessions and presentations:
1) Scale isn’t necessarily to be bigger :
The key note session Creating Digital Value at Scale led by Analyst Miling Govekar and Helen Huntely shared insights on how scaling isn’t necessarily about being bigger and how smaller organizations can compete with the larger ones. The 3 ways to start is by Scaling up, which is about maximizing efficiencies. Scaling across, which is about agility and Scaling out, which focuses on connecting with the ecosystem.
2) The Need of Digital Platform for every Digital Business :
Digital Platform Roadmap a session by Analyst Jorge Lopez showcased the need of Digital Businesses Technology Platform for Digital Businesses that essentially consists of 5 key components, Customer Experience Platform (Multichannel Interaction & Commerce, Customer Portal & Apps), IoT platform which focuses on leveraging connected things, Data & Analytics Platform (BI Algorithms and AI engines) and Ecosystems Platform(Run or Participate in Ecosystems and API economy Customer-facing and Public APIs) and Information System Platform (Business & Operational Analytics, Core Systems and Back-Office Systems).
3) Choosing the right type of Fintech in the emerging markets:
Fintech in Emerging Markets a session by Analyst Rajesh Kandaswamy showcased the blend of different industries in the emerging fintech markets and sighted examples of conjunction of Fintech across other industries like healthcare and retail. Choosing the right type of Fintech framework showcased 3 types of Fintech players, one being the Complimentors who work alongside services of financial firms, the second being the Competitors who are in the same line of business as of financial firms and the Catalyst who help financial services firms compete in the emerging fintech market.
4) Customer Analytics a critical factor for Customer Experience
Customer Experience Strategy session hosted by Analyst Ed Thompson addressed several challenges faced by Cx0s and shared insights on the roadmap to differentiation. It wasn’t surprising to witness that Business Process Management and Customer Analytics were ranked among the top most critical technology investments to Cx0s in 2016, and 41% claim to expect their organization to increase investment in customer analytics and 26% claim to increase investments in Business Process Management in 2017 versus 2016. Hence Customer Analytics stays the highest focus for enterprises.
5) Integrate the business strategy with the AI strategy
Artificial Intelligence in Banking a session by Analyst Vittorio D’Orazio focused on sharing insights of importance of AI in banking especially with the rise of smart Fintechs everywhere. The session showcases a multidimensional model for AI in banking which consisted of Business Functions, AI types, Smarter channels, AI algorithm, Intelligence Automation, Strategic Goals and Analytics Business Focus and applications of AI across various banking functions like Lending services, Bank information and Alerts.