Latest happenings in Analytics, AI and Fintech world
- As per a study Unlocking the economic impact of digital transformation in Asia Pacific, commissioned by Microsoft in partnership with IDC Asia/Pacific. It has said that by the year 2021, over 60 percent of India’s GDP would be derived from digital products and services such as AI, IoT and cloud computing. The report says over $154 billion would be added to our GDP by 2021.
- A report published by Allied Market Research on Data Analytics Outsourcing Market , forecasts that the global market is expected to garner $5.9 billion by 2020, registering a CAGR of 29.1% during the period 2015-2020. Some of the key findings of the report are the global data analytics outsourcing market is forecast to grow at a high rate owing to large amount of data generated by enterprises, increased adoption of mobile devices and social media, and reduction in data storage prices. The BFSI industry accounts for a major share in the data analytics outsourcing market and the segment of prescriptive analytics would register the highest CAGR during 2015-2020. Asia-Pacific is the highest revenue generating region in the data analytics outsourcing market.
- UAE is focusing big time on AI to become a major hub for developing AI techniques. It has launched a strategy for AI last year to support economic activity and increase government performance. The strategy aims to make UAE the first in the world in the field of AI investment in various vital sectors, as well as create a new vital market with high economic. The focus will be primarily on Dubai where lot of AI tech startup incubators have been created.
