In the Media
Banking is a prime example of an industry whose traditional operating model is being radically impacted by the Fourth Industrial Revolution. Historically, a bank would have millions of customers who would either visit their nearest branch or, more recently, its website to use one of its products. Now, however, these products are no longer necessarily consumed directly though the bank itself. As a result, the bank as an entity is becoming redundant.
While the world grapples with the effects of the COVID-19 virus, technology is getting an ultimate test as it's called in to support the global efforts of governments, medical professionals, researchers and businesses around the globe.
Will it be a pandemic that pushes digital transformation to an extreme?
There are some monumental shifts underway in the telecommunications industry as we enter 2020. CSPs are being challenged to provide exceptional customer service while reducing OpEx. These pressures come at a time when CSPs all over the world are handling massive volumes of customer service calls around the clock, and while the number of virtual, physical and IoT devices are exploding.
As the fuel that powers their ongoing digital transformation efforts, businesses everywhere are looking for ways to derive as much insight as possible from their data. The accompanying increased demand for advanced predictive and prescriptive analytics has, in turn, led to a call for more data scientists proficient with the latest artificial intelligence (AI) and machine learning (ML) tools.
The global telecommunications industry continues to evolve as we enter 2020. With legacy revenue streams under increasing pressure from over-the-top (OTT) players, communications service providers (CSPs) must find new ways of serving both their consumer and enterprise customers.
The global telecommunications industry landscape is changing faster than ever. Legacy revenue streams continue to face pressure from over-the-top (OTT) competitors, which is forcing Communications Service Providers (CSPs) to find new ways to better serve consumer and enterprise customers. While many have embraced digital transformation, the industry remains vulnerable to shifts including emerging technologies, nimble competitors and rising consumer expectations.
Read more in this article on The Fast Mode with Frank Palermo, Virtusa’s EVP of Tech, Media & Telco.
SPIN Chennai conducted the Watts Humphrey Awards competition on December 7th, 2019. In a tough competition amongst the short-listed 12 teams, Virtusa’s team won for “Invincible Automation”.