If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Tata Consultancy Services' Capital Markets Focussed Workflow, Innovative Process Enhancers, and Solutions Backed by the Latest Technologies, Cited as Key Strengths Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix for Capital Markets Operations. In an assessment of 24 global service providers offering capital markets operations services, TCS was placed highest for Vision and Capability, as well as Market Impact. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores. TCS' strong position in the overall capital markets segment is attributed to consistent growth in its portfolio with multiple new wins. According to the report, the company has continuously worked on creating solutions backed with the latest technology to help its customers solve operational problems more efficiently.
Tata Consultancy Services' Capability Across Consulting, Technology, and Services, MFDMTM, and Investment in Next-Gen Technologies, Cited as Key Strengths Tata Consultancy Services, a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix for Multi-Process Human Resources Outsourcing (MPHRO) Services. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores. The report highlights TCS' Machine First Delivery Model (MFDM) that leverages digital technologies such as automation, analytics and cloud to drive digital transformation and help customers achieve their business outcomes. It says that TCS' capability across consulting, technology, and services, serves as one of its key strengths and has enabled it to win multiple deals. According to the report, the company has invested heavily in next-generation technologies and has successfully operationalized RPA, chatbots, and analytics in its HR services.
Advances in new digital technologies, the emergence of new competitors, new sourcing models, and changing customer expectations are dramatically changing the type of IT skills enterprises across industry verticals require. And, with new service delivery paradigms such as automation, agile, and Artificial Intelligence (AI) becoming mainstream, the underlying service delivery models to support the new talent demand profile are also undergoing significant changes. We expect technology themes such as data management and analytics, omnichannel customer experience, and cloud adoption to dominate near-term demand, and cybersecurity, Service Oriented Architecture (SOA)-based application design, and agile delivery methodologies to become mainstream. So, what does this mean from a talent perspective? Below are four takeaways from Everest Group's recent research, much of which is detailed in a newly-released viewpoint titled Closing the Gap – The Future of IT Skills in the United States.
How hot has Summer 2018 been around the globe? The speed of evolution in this industry segment is almost without precedent. Firms that had revenues worth tens of millions of U.S. dollars just a couple of years ago are talking about reaching a billion in revenue in just a couple of more years. But the reality is that it's the perfect storm – or heat wave – of innovation and capital intersecting at just the right time. Of course, it doesn't hurt that enterprises have already captured most of the potential value from offshore labor arbitrage.
If I had a penny for every time Artificial Intelligence was mentioned during the recent NASSCOM India Leadership Forum, I could buy a lot of Bitcoins. Both hype and hope abound around AI and its impact on different industries' business models. Let's take a look at AI the healthcare industry. Adoption is increasing, helping solve a number of problems for patients, doctors, and the industry overall. AI engines are helping doctors identify patterns in patient symptoms with data and analytics, improve diagnoses, pick the right treatments, and monitor care.
AI is certainly being used to attempt to solve many of the world's big problems, such as health treatment, societal security, and the water shortage crisis. But Everest Group research suggests that 53 percent of enterprises do not – or are not able to – differentiate between AI and intelligent automation and what they can do to help them compete and grow. This trivialization of AI is both eye opening and frustrating. While it's true that automation of back-office services is one strong case for AI adoption, there are many more that can deliver considerable value to enterprises. Examples we've researched and written about in the past year include intelligent architecture, front-to-back office transformation, talent strategies, and AI in SDLC.
Looking back at the last decade of digital transformation – the use of technology to radically improve performance or change the enterprise – the one constant has been an ongoing shift in focus and priorities. Looking forward to 2019, a number of trends are emerging that IT leaders will want to consider as they make their plans for the new year. Are you on the same page as your peers? This year, many digital projects suddenly matured from experimentation to enterprise implementation. In the year ahead, business leaders are likely to scrutinize their digital investments more closely.