The aerospace and defense industry is facing pressure in two directions. The commercial side of aerospace is struggling with decreased demand from the impacts of COVID-19 while the defense and space segments are seeing growth as new technologies emerge. Regardless of the segment, however, the prescriptions are similar. Digital transformation and the adoption of technologies such as 3D printing, artificial intelligence, digital twin, and augmented/virtual reality (AR/VR) are an imperative.

Healthcare providers are facing pressure to shift from fee-for-service reimbursement payment models to value-based care models which emphasize patient outcomes. This shift is driving digital transformation with a focus on core operations and enhanced patient experience. COVID-19 is also accelerating this trend, particularly when it comes to digital patient experiences such as telehealth and remote patient monitoring. This digital transformation is driving providers to outsource more revenue cycle management (RCM) functions.

COVID-19 has emphasized the need for regulatory compliance, internal compliance controls, and the use of security frameworks and tools. Meanwhile, the regulatory environment is increasingly complex, particularly for multinational companies, as they struggle to comply with sometimes conflicting regulations across regions. Risks have changed with a growing cloud environment and increasingly diverse IT service portfolio. The need for a strong governance, risk, and compliance (GRC) partner has grown. These emerging trends are covered in Avasant’s Risk and Compliance Services 2020-2021 RadarView™ report.