Prime Minister Modi was the keynote speaker at the Singapore Fintech festival, the biggest event of its kind in the world — attended by both industry leaders and smaller start-ups. He mentioned that India is witnessing an explosion of financial technology (Fintech) innovation and enterprise, Prime Minister Narendra Modi told the world’s largest gathering of Fintech firms in Singapore on Wednesday. The Singapore Fintech festival is the biggest event of its kind in the world, attended by both industry leaders and smaller start-ups. He launched API Exchange (APIX), an online marketplace and sandbox for Fintech-related APIs.
The global mobile analytics market will reach $6.48 billion by 2023 from $1.74 billion in 2017, at a compound annual growth rate (CAGR) of 25% during the period, according to research firm Research and Markets. One of the key drives of the market is a growing focus on business intelligence, the report said. The growth of smartphones has also accelerated the demand for mobile analytics capabilities. On the other hand, a lack of awareness of the benefits of mobile analytics and shortage of skilled professionals have restrained the growth of the market, it said. Another report, from research firm Markets and Markets, estimates the global mobile analytics market will grow from $1.36 billion in 2015 to $4.12 billion by 2020, at a CAGR of 25%.
The Monetary Authority of Singapore (MAS) has issued a set of principles to promote fairness, ethics, accountability and transparency (FEAT) in the use of artificial intelligence (AI) and data analytics in finance. Known as the FEAT Principles, the document provides guidance to firms offering financial products and services on the responsible use of AI and data analytics, to strengthen internal governance around data management and use. The MAS said that this is intended to foster greater confidence and trust in the use of AI and data analytics, as firms increasingly adopt technology tools and solutions to support business strategies and in risk management.
India is likely to add over 1.4 million new IT jobs by 2027 finds a joint study by Cisco and International Data Corporation (IDC). This represents a 46% growth in jobs primarily driven by emerging technologies like cybersecurity, Internet of things (IoT) and Big Data, which are the digital transformation skills that organizations are seeking. As per them, the twenty most Significant IT Roles You Should Consider in India are job roles like social media administrator, machine learning designer, and IoT designer are among the most in-demand job roles in the coming years.