Latest Reports

• Digital Masters Process Transformation: Fostering Innovation through Digital Technologies

  In response to the economic pressures of inflation and rising interest rates, enterprises are increasingly turning to digitization and alternative funding strategies. This shift aims to strike a balance between seeking cost optimization and fostering innovation, which is vital for transforming business processes. As part of this strategic pivot, organizations are reassessing their service delivery locations and investing in generative AI (Gen AI) to bolster resilience and enhance efficiency within their service delivery frameworks. Concurrently, service providers are broadening their nearshore presence and pouring resources into AI and analytics-driven solutions. The integration of these diverse elements forms a cohesive narrative, underscoring the industry’s commitment to innovation and efficiency in the face of global economic challenges.

  July, 2024

• Intelligent Process Mining Platforms: Delivering Intuitive Business Intelligence and Process Transparency

  The emergence of generative AI has transformed the landscape of process mining. Platform providers have expanded their capabilities to extract unstructured data from enterprise environments and deliver insights through natural language queries. Enterprises are increasingly prioritizing rapid process optimization with personalized recommendations. Moreover, they utilize what-if scenario simulations and digital twin technology to forecast and evaluate business impacts early. To capitalize on market opportunities, platform providers are augmenting process mining offerings through product enhancements, strategic partnerships, and acquisitions.

  July, 2024

• Utilities Digital Services: Traversing Challenging Times with Technology Disruption

  The utilities sector (electric, gas, and water), bolstered by legislative investments across the US and Europe, is poised to overhaul outdated systems and match other sectors in tech adoption. However, providing cost-effective energy/water and expedited customer services remains challenging. Despite these challenges in delivering affordable services quickly, utilities are diversifying energy sources and embracing digital upgrades for better efficiency. Investments in new tech aim to balance energy needs with climate realities. Moreover, sustainability is now critical, driven by regulations and expectations, with generative AI playing a key role in meeting compliance demands.

  July, 2024

• The Dual-Edged Sword of Technological Progress: Navigating the Promise and Peril of Innovation

  In today’s dynamic landscape, technology has evolved from being just a set of tools to becoming the cornerstone of our advancement. It has revolutionized communication, healthcare, and global connectivity, opening new horizons for growth and collaboration. However, this transformative power comes with ethical dilemmas and societal challenges. From cybersecurity threats to the ethical implications of AI, we find ourselves navigating a delicate balance. IT leaders must understand the extensive implications of innovation to guide their teams effectively, and robust frameworks must be established to ensure efficient global implementation. Atti Riazi, SVP and CIO at Hearst, eloquently addressed this in her insightful keynote presentation at the Avasant Empowering Beyond Summit 2024, held in Hollywood, Calif.

  July, 2024

• Quantum Resilience: Navigating Cybersecurity in a Quantum World

  Recent advancements in quantum computing raise concerns about the future of cryptography, given the computational capabilities of quantum computers to perform complex calculations rapidly and break traditional encryption algorithms. Although cybersecurity systems can tackle quantum threats at present, the promising pace of development in quantum computing poses an inevitable, if not imminent, threat to organizations. Moreover, there is a risk that malicious intruders could steal information now and decrypt it in the future with mature quantum computers. This necessitates enterprises to use post-quantum cryptography to safeguard confidential data and stay ahead of quantum-powered adversaries.

  July, 2024

• Analysis of negotiation challenges, supplier issues during a divesture project

  A divestiture involves selling, liquidating, or spinning off a business unit to streamline operations, reduce debt, or reallocate resources, often as part of a corporate restructuring strategy. These processes can help a company focus on core competencies, enhance financial health, and ensure regulatory compliance by shedding non-core assets. Avasant's role in divestitures includes managing procurement activities, organizing IT sourcing, and conducting workshops to assess employee impact. Challenges in contract negotiations and supplier management during divestitures include ensuring fair contracts, maintaining good client-provider relationships, and managing supplier uncertainties and employee turnover.

  June, 2024

• Beyond the Burnout: The Nursing Shortage and the Road Ahead

  The world is facing a critical healthcare challenge: a nursing shortage. This imbalance between the demand for nurses and the available workforce is putting a strain on healthcare systems around the globe. The nursing shortage is not a new phenomenon, but it has worsened in recent years. An aging population, coupled with high nurse burnout and turnover rates, has created a significant gap in nurse availability. The World Health Organization estimates a deficit of 4.5 million nurses worldwide by 2030, with the shortage being particularly acute in low- and middle-income nations.

  June, 2024

• Transformation Happens at the Speed of Acceptance

  As the acceleration of innovation rapidly increases and businesses race to keep pace, being able to change swiftly and smoothly is an organization’s secret to success. Generative AI is here and re-shaping every facet of work. We’ve heard the saying, “We must do more with less” for years, and now–with AI–that phrase is reality.

  June, 2024

• Avasant Releases New Benchmarks for IT Security and Cybersecurity Spending

  Security and cybersecurity damages have been increasing every year. In light of these growing threats, it is no wonder that organizations in all industries continually rank security as a top priority for new spending. But how much are they spending, and what are they spending it on? To provide metrics to answer these questions, we have now updated our annual report, IT Security, Cybersecurity, and Compliance Spending and Staffing Benchmarks 2024.

  June, 2024

• Conversational AI Platforms: Enhancing Digital Conversations to be More Intuitive and Human-like

  Over the past year, conversational AI platforms have significantly advanced due to generative AI, focusing on better natural language understanding, intuitive query handling, and knowledge segregation. The primary use case for these chatbots is knowledge search and Q&A. There is a growing demand for integrating generative AI capabilities into these platforms out of the box, facilitating personalized and context-aware bot generation for various applications. This helps enterprises expedite time-to-market, reduce costs, and create customized bots.

  June, 2024

• Responsible AI Platforms: Responsible AI Emerges as an Enterprise Priority

  Owing to the emergence of new risks, such as hallucinations, copyright infringement, and cyberattacks associated with generative AI (Gen AI), enterprises have become more cognizant of AI governance. Furthermore, the surge in regulatory frameworks like the EU’s AI Act and the US NIST framework have pushed enterprises to ensure that their AI systems are compliant with these regulations. This has led to increased adoption of responsible AI platforms, and vendors are augmenting their offerings with advanced tools for AI/ML metadata management, large language model (LLM) auditing, and regulatory compliance monitoring.

  June, 2024

• The Domino Effect: Supply Chain Cyberattacks

  Supply chain vulnerabilities are a new front in the cybersecurity battlefield brought about by the interconnection of people, technology, and business processes. The interconnectedness presents a double-edged sword for enterprises: efficiency vs exploitable vulnerabilities. A single cyberattack can trigger a cascade of disruptions, leaving businesses scrambling and consumers facing empty shelves. Business leaders need to dig deep and understand cybercriminals' strategies to target supply chains and implement solutions to mitigate risks.

  June, 2024