As companies strive to improve efficiency and increase innovation and customer engagement, digital transformation is becoming an imperative. In response, CIOs are leaving nothing to chance, overhauling virtually every facet of their companies. Today's trends are tomorrow's reality, and the sooner you take action, the greater the chance of continued growth and efficiency. Yet while most CIOs are feeling the pressure to drive their company's transformation, many lack a plan for doing so. Historically, CIOs oversaw the computer systems and other components of their company's IT infrastructure.
The technological landscape is changing at a fast pace. With the thriving growth of technology, the Smartphone users as well as the number of apps have also increased. Every mobile app is developed with the unique features according to the requirements of the business and the users. From the morning till the night, people spend a lot time using their smart phones and the apps. The app stores have witnessed an explosive growth in the number of mobile apps in the past few years.
The self-driving car business could become a major threat to insurance companies when the technology hits the market, billionaire investor Warren Buffett told CNBC's "Squawk Box" on Monday. If autonomous vehicles prove to be safer than regular cars, insurance costs will plummet, and by the time roads are filled with self-driving cars, insurers like Geico will have taken a serious hit, the Berkshire Hathaway chief said. Berkshire Hathaway Homestate Companies offers commercial auto insurance. "If they're safer, there's less in the way of insurance costs, [and] that brings down premium buy significantly," the investment guru said. But disrupting an entire industry takes time, and the market will embrace self-driving cars slowly despite the immense amount of capital that tech companies are spending on their development, Buffett said.
For the past many decades of hope and promise, 2018 may finally be the year when AI will gain meaningful traction and use within the Fortune 1000 companies. A survey conducted by New Vantage Partners represented around 97.2% of the executives who were willing to invest in launching and facilitating AI and Big Data initiatives. Also, it was discovered with this survey that all the AI and Big Data ventures are intertwined. Within organizations, greater availability of data will help in empowering the AI and cognitive decision making. Despite the long-term claims and promises of AI materializing and robots gradually replacing humans, nothing has been able to live up to the glittering expectations.