Outlook for 2022 & going forward – AI, ML, Fintech World
AI, ML & Data Analytics trends
- Some interesting Technology trends which have bearing on the AI impact for AI & ML driven Data Analytics practices. This is per the latest Gartner Report on Top Technology Trends for 2022:
- By 2025, cloud-native platforms will serve as the foundation for more than 95% of new digital initiatives, up from less than 40% in 2021
- By 2023, more than a third of large organizations will have analysts practicing decision intelligence including decision modeling
- By 2025, the 10% of enterprises that establish AI engineering best practices will generate at least three times more value from their AI efforts than the 90% of enterprises that do not.
Finalytica Dec 2021: Latest Happenings in AI and Analytics
- According to a latest Gartner report, Indian Corporates are expected to spend a total of $101.8 billion on Information technology (IT) in 2022 to support new IT projects. This marks a 7% increase in IT spending as compared to 2021, which saw India spend $95.1 billion on IT services, the report released on Wednesday said.
Finalytica Nov 2021: Latest Happenings
- As per the latest Forrester 2022 Predictions for Asia Pacific report, Global cloud-native adoption rose last year since Developers reported increased usage of containers (33% to 42%) & serverless (26% to 32%) at their organisation which will accelerate enterprise modernisation and implement future fit technology strategies further in Year 2022.
Finalytica Oct 2021: Latest Happenings in AI and Analytics
- According to 2020 market share numbers from IDC, the total worldwide business intelligence and analytics market hit $19.2 billion, growing a healthy 5.2% despite pandemic-related economic upheavals. Looking ahead, BI growth is expected to accelerate as companies focus on digital transformation and smarter ways to use data to drive the business forward.
Finalytica Sept 2021 : Latest happenings in AI, ML & Fintech world
- As per a news item published in Techcircle, the Indian Software-as-a-Service (SaaS) market could reach $1 trillion in value in the next nine years, Chennai-based SaaS consortium, SaaSBOOMi, in a report said. The report also said that the SaaS boom could see the creation of half a million new jobs.
Finalytica Aug 2021: Latest Happenings
- Research from StrategyR published a report that said Amid the COVID-19 crisis, the global market for Data Analytics Outsourcing estimated at US$5 Billion in the year 2020, is projected to reach a revised size of US$22.9 Billion by 2026, growing at a CAGR of 28.4% over the analysis period.
Finalytica July 2021: Latest Happenings
- A report by Analytics Insight highlighted that Big Data plays a principal role in understanding customer needs and drawing market patterns. India is one of the fastest-growing countries adopting artificial intelligence, big data analytics, and IoT. According to reports, the Indian analytics industry is estimated to reach approximately US$16 billion by 2025.
Finalytica June, 2021: Latest Happenings
- A report by Analytics India Magazine highlighted that Data Analytics as a solution will encompass 35% of all IT solutions in India by 2025, as the Data Analytics Industry in India earned a total revenue of 35.9 bn USD as of March 2020, signifying a sharp increase of 19.5% over and above the past year.
Finalytica May, 2021: Latest Happenings
- The report ‘Analytics India Industry Study’ for 2021 by AIM provides an overview of the analytics market in India and its breakup across sectors, geographies, company sizes, work experience, and demographics. The market size for the analytics domain increased to $45.4 Bn in FY 2021 – a 5% growth in the market size over last year when it was $35.9 Bn.
Finalytica April 2021: Latest Happenings in the AI, Analytics and Fintech world
- Analytics Insight estimates the Data Science Education market in India to grow from US$103 Million in 2020 to US$626 Million by 2025, growing at a CAGR of 43% during the period. According to the analysis, the on-campus data science education market is forecast to grow at CAGR of 42.59% from US$48.2 million in 2019 to US$386.5 million in 2025.
Finalytica March 2021: Latest Happenings in the AI, Analytics and Fintech world
- Indian Fintechs raised nearly $10 bn in the last decade:Indian fintechs have attracted close to $10 billion in equity capital funding, over the past decade, with digital payments and lending startups being the largest recipients in this sector. As per the report titled ‘100 Unicorns: India’s changing corporate landscape’, India is home to the third-largest set of unicorns globally, behind the US and China, which command a total valuation of $90 billion as per a report from livemint.
Finalytica Feb 2021: Latest Happenings
✓ The Indian FinTech sector witnessed interesting funding announcements this February 2021. Digital payments in the country have been instrumental and the growth over the past few years have skyrocketed especially during the COVID-19 pandemic. According to the India FinTech Report 2020 by IBS Intelligence, total digital payment transactions (mwallet, UPI and Prepaid Payment Instruments) in India stood at approximately $270 billion in 2019 and is forecasted to reach approximately $950 billion by 2023, recording a CAGR of 41.1 per cent.… Continue reading