CXOToday | December 24, 2022 | Digital Investments in 2023
Rahul Joshi, CTO at Movate (earlier CSS Corp)
“There’s no doubt that cloud computing has revolutionized the way businesses operate. From making it possible for employees to work remotely, allowing flexible hours, to making business communication and collaboration a lot easier, while also amplifying the company’s growth by modernizing operations and expanding IT capabilities – cloud computing has given us all!
- Investment in cloud security and resilience: The industry will keep spending on cyber security and building resilience against everything from data loss to the impact of a pandemic on global business in the coming years. At Movate, we have made investments in our Contelli platform which offers great cloud security and resilience. Our solutions combined with industry leading solutions gives a greater real-time detection and prevention of known and unknown threats.
- Multi-cloud to become popular strategy: In 2023, most businesses will start leveraging the advantages of diversifying their services to different cloud providers taking a multi-cloud approach. This approach offers several benefits, including improved flexibility and security with no vendor lock-in.
- Low-code and no-code cloud services: We can expect continued innovation in the field of hyper-scale cloud services. Low-code and no-code solutions are becoming available for building AI-powered applications for companies wanting to leverage AI/ML without getting into the complex coding job. Many of these services are provided via the cloud, i.e., people can access them “as-a-service” This trend will pick up in the upcoming years. At Movate, we have built our Analytics and BI platform on top of LCNC platform. This has helped us to reduce our GTM over ~60%. This also enabled our business users to develop the dashboards on their own through DIY model.
- Leveraging the efficiency of the cloud to meet sustainability goals: Today, sustainability is the most critical criterion in IT buying decisions. Organizations will continue to shift towards sustainable efficiencies by leveraging software and cloud-based infrastructures.
- Innovation and consolidation in cloud gaming: We all enjoy binge-watching and listening to music. Thanks to the cloud that has brought us streaming services like Netflix, Spotify, etc., revolutionizing the way we consume content today. Although, streaming video gaming is taking a little longer to gain a foothold as it requires higher bandwidth than music or videos. With the ongoing rollout of 5G and other ultra-fast networking technologies, 2023 could be the year cloud gaming will impact.
Developments in AI/ML in 2023
Out of all the technologies that have been introduced into the mainstream over the last few years, AI has proven to be one of the biggest buzzwords in the IT industry. Every year new use cases are being discovered and are becoming feasible with advances in AI and efficient hardware. Here are a few examples that can help companies to be more efficient in leveraging AI:
- Advanced Cybersecurity: AI and ML can be used to enforce best cybersecurity practices, reduce attack surfaces, and track malicious activity proactively. More and more companies will start to invest in building AI systems that can analyze large volumes of data, including malicious code, malware, and code anomalies, to help cybersecurity teams identify potential threats. At Movate, we are leveraging AI to fight AI-powered cyber-attacks, where AI and ML-based algorithms adapt to new threats faster than humans, as they can quickly spot the similarities between the new generation of malware and cyberattacks and others.
- Efficiency in IT Operations: As machine data explodes, businesses are in a race to find value in their data and stay competitive. However, metadata initiatives are failing, and data discovery and retrieval is becoming challenging. This paves the way for the Growth of AI-as-a-Service. The emergence of the industrial internet and the integration of complex physical machines with networked sensors and software have forced these two areas to work together to improve resiliency, availability, and cybersecurity. Observability and controllability are areas of focus as organizations leverage AIOPs and data initiatives to make enhanced correlation with increased adoption of SRE, DevOps, APM and other technologies.
- Customer Service Excellence: I believe AI can help provide personalized customer serviceby leveraging the data pertaining to demographics, past interactions, choice of channels, improved self-service, and enhanced search capabilities. Interestingly, we are seeing rapid adoption of voice bots/self-service, which leverage conversational AI, NLP, and deep learning capabilities not just for informational use cases but for complex self-service use cases, including interactions with multiple systems. Additionally, AI helps reduce customer effort by providing excellent search and next-best actions based on historical transactions.”