Over the years, the BFSI sector has experienced significant and transformative changes, leading to a complete reconfiguration of the industry ecosystem. New technological innovations played a crucial role in this, acting as a catalyst that has driven firms to adopt new technologies at an unprecedented pace. Digital Transformation is now the focal point for many enterprises, as they seek to remain competitive in a rapidly changing market.
As part of this digital shift, cutting-edge technologies such as data analytics, artificial intelligence and machine learning, high-performance computing, and cloud computing have emerged as strategic priorities for BFSI firms. These technologies allow businesses to streamline their operations, enhance customer experience, and reduce operational costs, leading to improved profitability and growth.
At the recent edition of ‘Digital Leaders Club’ curated by CORE Media and powered by Google Cloud India, CIOs from the BFSI sector and Google Cloud India executives discussed the different aspects of how digitization is making rapid advancements in the BFSI sector and what are the new use cases that may be introduced in the near future.
Anoop Mathur, Founder - CORE Media, started the conversation by talking about businesses in the healthcare and life sciences sector embracing cutting-edge technologies. However, there is still a considerable challenge in terms of the adoption of new technologies due to security issues and how CIOs can resolve these challenges. Joining Mr. Mathur as co-hosts in this discussion were Vaibhav Gawde and Sachin Bhat from Google Cloud. The key points highlighted by the CXOs and digital leaders from the BFSI sector attending the discussion were as follows:-
- In order to reimagine and transform customer service, digital leaders are looking to integrate next-generation contact center-as-a-service solutions.
- As businesses focus on gaining more profound and accurate customer insights, digital leaders are enthusiastic about leveraging custom AI/ML capabilities into their environment.
- Digital leaders from the financial sector are keen on organizing employee training programs in cyber security to build and maintain a secure ecosystem for sustainable business growth.
