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The major technology disruptions to look for in 2022 & beyond

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The Card and Payments Market is a dynamic sector undergoing a profound transformation, largely driven by digitalization and evolving consumer preferences. The rapid shift from traditional cash and

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It’s become increasingly important for organizations to adopt digital transformation

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“It has become increasingly important for organizations to adopt digital transformation”

Ramesh S Subramanian

VP, TECH & INNOVATIONS, RAMCO

“Hyperautomation will be driven by process agnostic tools such as AI, RPA and Low Code Application Platforms (LCAPs), which have many use cases and have a large scope in fulfilling the business needs of many organizations”

 With the pandemic continuing to impact our lives in many ways, the year 2022 will continue to witness an accelerated rate of digitization. For organizations, 2022 will usher in sustainability while increasing data volumes will become the most important drivers of digital transformation with an openness to flexibility, agility, and innovative thinking. Some of the major game-changing technology trends that will likely make the biggest impact in 2022 will be hyper automation, Employee Engagement, Decision Intelligence, Edge AI, AI Cloud Services, and Composability.   

The drivers & disruptors for the technology innovations 

Hyperautomation will be driven by process agnostic tools such as AI, RPA and Low Code Application Platforms (LCAPs), which have many use cases and have a large scope in fulfilling the business needs of many organizations. In addition to these use cases, hyperautomation will also be driven by implementing intelligent enterprise resource planning software, as organizations must embark on digital transformation to make full use of this software and raise process efficiency through cognitive automation.  

To thrive in an increasingly VUCA environment and swiftly adapt to changing business needs, organizations are increasingly making their business composable. To enable the modular technological capabilities needed for composability, organizations must deploy artificial intelligence and distributed cloud technologies with hyperautomation. 

Organizations are also increasingly adopting AI to meet their business needs and maintain a competitive edge in the market. However, to optimize AI’s value, they must utilize AI engineering to ensure that AI projects are maintainable, scalable, and meet governance standards. AI engineers will play a role in ensuring that organizations take up the right projects to address their pain points and collaborate with other IT and AI specialists to harmonize process automation in the firm. 

Aggressive adoption of advanced technologies for staying relevant and competitive  

It has become increasingly important for organizations to adopt digital transformation to adapt to changing market conditions and maintain their competitive edge. Organizations must keep in mind the following laws of transformation when they successfully embark on their digital transformation journey: 

Law of Digitalization: All transactions and events will ideally be captured at source digitally without human intervention. 

Law of Intelligent Systems: All information will be available democratically and securely to help arrive at a decision by prediction and best option suggestions by the system. 

Law of Digital Transformation: Digitalization of supporting functions result in automation while digitalization of core (AI-ML assisted) function result in Digital transformation. 

Law of Digital Assets: While physical assets depreciate with time, digital assets accelerate with a number of use cases. 

Law of Digital capacity: The capacity to change is inversely proportional to the investment in disparate legacy systems. 

Law of Customer Intimacy: The customer intimacy index of an organization is inversely proportional to the degrees of separation from the customer. 

Law of Org Culture: The prerequisite of digital Transformation is the culture of Empowerment. 

CEO as the Change-maker: Digital Transformation is such a disruptive process that if it is not relentlessly driven from the top, it will fizzle out as another failed initiative.