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Risk and Compliance Services: Leveraging Automation Tools to Navigate Compliance Risks
Enterprises are focused on driving secure digital transformation, transitioning to proactive risk management. They are aiming to leverage AI/ML models to automate various aspects of compliance management, risk assessment, fraud detection, data privacy, and disaster recovery services. Service providers are developing solutions to not just mitigate security risks but also help organizations govern the use of technology safely across their IT infrastructure, given the pace and complexity of modern business operations. Both demand-side and supply-side trends are covered in our Risk and Compliance Services 2023 Market Insights™ and Risk and Compliance Services 2023 RadarView™, respectively.
October, 2023
IT Security Outsourcing is Burgeoning but Facing Service and Cost Challenges
IT security is a major focus for IT leaders, and that is unlikely to change in the near future. The threat landscape continues to evolve with greater diversity in the IT service portfolio, more employees working from home, and a more burdensome regulatory environment. To combat these threats, organizations are turning to IT security outsourcing firms to handle higher-value security tasks. This Research Byte summarizes our full report on IT security outsourcing trends.
November, 2023
Blockchain Services: Charting the Path to New Opportunities in Blockchain
Over the past two years, enterprise adoption of blockchain services has increased gradually, with more projects moving to the production stage. Financial services lead this trend due to the increased traction for use cases such as cross-border payments and trade finance, P2P transactions, and asset tokenization; however, challenges persist, hindering mass adoption. In addition, the application of blockchain to drive sustainability initiatives has emerged as a new lever to enhance trust and transparency. To tap into emerging use cases and address the developments above, service providers emphasize inorganic expansion and asset development. Both demand- and supply-side trends are covered in Avasant’s Blockchain Services 2023–2024 Market Insights™ and Blockchain Services 2023–2024 RadarView™, respectively.
December, 2023
Breakthrough Innovation through Digitalization in the Life Sciences Domain
The Life Sciences Digital Services 2024 RadarView™ can help life sciences enterprises craft a robust strategy based on industry outlook, best practices, and digital transformation. The report can also aid them in identifying the right partners and service providers to accelerate their digital transformation in this space. The 86-page report also highlights top market trends in the life sciences industry and Avasant’s viewpoint.
February, 2024
GCC Region: Powering GCC Region’s Future Using Digital Technologies
Amid economic diversification through digital transformation, enterprises in the GCC region are facing the challenges of managing profitability while catering to the fierce digital talent crunch. The region is bridging the digital skills gap by training local talent and attracting foreign talent with visa schemes and easing labor laws. Enhanced focus on augmenting citizen experience, innovation through AI adoption, improved cyber posture, and a sustainable future is pushing regional authorities and firms to collaborate with leading service providers to develop digital solutions and optimize costs.
February, 2024
Retail Digital Services: Elevating Customer Experience Using Emerging Technologies
Retail enterprises worldwide leverage emerging technologies to provide a personalized and immersive customer experience. They also focus on enhancing profit margins by utilizing AI to improve operational efficiency and venturing into higher-margin businesses such as retail media networks. They are also realizing the significance of social media as a pivotal commerce channel and adopting measures to better connect with their audiences there. Increasing regulatory requirements also compel retailers to integrate sustainability into core business operations.
March, 2024
The Questions to Ask About Telecommuting Before Someone Else Does
Whether allowing work from home is a good idea depends on the organization, the role, how centralized your business is, the strength of your management team, and many other variables. But if you are going to allow more telecommuting, you need certain ducks in a row.
March, 2023
Creating a Connected Ecosystem to Speed Innovation and Growth
IoT technology has become mainstream, as evidenced by the steady rise in the adoption of connected devices. The share of production-grade projects increased from 68% in 2021 to 73% in 2022. Across three key segments—Industrial Internet of Things (IIoT), connected infrastructure, and Consumer IoT—IIoT continues to lead in adoption driven by smart manufacturing and Industry 4.0 use cases, including digital twins. The connected infrastructure segment saw significant growth pushed by smart city initiatives, including urban mobility, energy management, and waste management. Sustainability has emerged as a new growth lever in IoT services. These and other trends focused on the demand-side and supply-side are covered in our Internet of Things Services 2023 Market Insights™ and Internet of Things Services 2023 RadarView™, respectively.
May, 2023
Life and Annuities Insurance: Reshaping Customer Experience with Digital Technology
Amid evolving customer demands, the life and annuities (L&A) insurance industry has been under pressure to offer personalized digital experiences and launch innovative insurance products to tap into new customer segments. To alleviate this pressure, L&A insurers are adopting digital technologies to overcome legacy challenges, augment distribution channels, and enhance customer experience. They are also streamlining operations and launching sustainable insurance products. As this requires a strong insurance domain knowledge and technological expertise, L&A insurers are collaborating with service providers for digital transformation. Both demand-side and supply-side trends are covered in our Life and Annuities Insurance Digital Services 2023–2024 Market Insights™ and Life and Annuities Insurance Digital Services 2023–2024 RadarView™, respectively.
July, 2023
Digital Workplace Services: Driving Organization Agility and Innovation in the Era of Hybrid Work
The hybrid workplace has made significant strides since its inception in 2020, with the 2–3-day work-from-home model being widely accepted. Enterprises are dedicated to enhancing employee experience through outcome-based engagements with service providers and experience-level agreements (XLAs) by leveraging emerging technologies such as AI/ML, analytics, IoT, and automation; creating new possibilities in the workplace; and fostering increased collaboration, productivity, and employee satisfaction. These trends, among others, are covered in Avasant’s Digital Workplace Services 2023 RadarView™ and Digital Workplace Services 2023 Market Insights™.
August, 2023
Leveraging Generative AI to Enhance Developer Productivity
This research byte sheds light on how service providers and enterprises can leverage generative AI to enhance developer productivity. By harnessing the power of generative AI, developers can accelerate software development, convert between coding languages, improve code quality and documentation, build innovative solutions, and streamline workflows, thus enhancing their productivity.
October, 2023
Tech-enabled Sustainability Services: Leveraging Digital Technology for Integrating Sustainability Into Core Business Operations
Enterprises are integrating sustainability into core business operations due to increased regulatory disclosure requirements and pressure from internal and external stakeholders. Manufacturing, BFSI, retail and CPG, and utilities and resources industries are leading the adoption of sustainability services through projects in green IT, green financing, and sustainable product design. While cloud and automation have found their way into production sustainability projects, enterprises are still gauging the effectiveness of next-generation technologies such as Gen AI for tackling sustainability challenges. Both demand- and supply-side trends are covered in Avasant’s Tech-enabled Sustainability Services 2023–2024 Market Insights™ and Tech-enabled Sustainability Services 2023–2024 RadarView™, respectively.
November, 2023
IT Wages to Rise 3.0% at the Median in 2024, Salary Study Finds
Despite lingering questions about the economy, unemployment remains at low levels and inflation is coming under control. We anticipate modest upward pressure on IT personnel wages in 2024. Overall, our IT Salary Report 2024 anticipates that average wages for IT workers will rise 3.0% in 2024. This is lower than the 4.0% we projected the past two years, but it still shows a strong IT job market, especially considering a fair number of high-profile layoffs in the tech industry earlier in 2023.
December, 2023
App Development Outsourcing Increasing But for How Long?
The outsourcing of the application development function has grown in the past five years, increasing from 56% in 2019 to 64% in 2023. However, this is an outsourcing category that should be monitored, because there are countervailing trends such as public cloud infrastructure, SaaS, low-code/no-code, and even AI, which may result in decreased demand for developers in the near future. This Research Byte summarizes our full report on Application Development Outsourcing Trends and Customer Experience.
February, 2024
Agile Now for Everyone
Organizations have been steadily increasing their investment in Agile software development. Agile helps businesses reduce development cycles and respond more quickly to changing markets and customer demands. Once considered useful only to software companies and big tech, Agile has been adopted by enterprises of all types. This Research Byte explores some reasons for the lukewarm growth of agile methodologies among corporate IT organizations.
February, 2024