In 2022, enterprise investments in technology will see significant momentum as they return to growth and rebuild their speed in an accelerated manner.
Enterprises will focus on creating contingency plans, including multi-country sourcing strategy, and minimizing disruptions in their sourcing and procurement resulting from geopolitical, economic, or other disturbances. They will invest in critical themes of reducing time to market, accelerated customer engagement while keeping a close eye on costs and efficiencies. They will adopt more direct digital routes to engage with customers while freeing up cash flows. There will be significant transformation projects around cost optimization initiatives to build a resilient future.
Investments in technologies that integrate the physical and virtual worlds will enable superior stakeholder experiences. Hybrid work will be here to stay, and enterprises will invest in digital tools and technologies that will make it easy for employees to work from anywhere while also providing innovation in customer services for several industries such as healthcare, insurance, and hospitality. Enterprises will focus on creating comprehensive experience strategies and resilient architectures that will continuously enhance outcomes by combining AI virtual assistants, mobile applications, and concierge services.
Technologies like Generative AI that generates new digital artifacts from existing sample data sets working on both content or objects will enable superior advancements in R&D across processes.
Operational efficiency will see increased focus. Hyperautomation spending that focuses on governance, compliance, and costs will increase significantly on technologies such as intelligent BPM suites (iBPMS), RPA, low code / no-code development platforms, integration platform as a service (iPaaS) as well as AI/ML, and other types of decision tools. Enterprises will focus on the democratization of IT by creating centers of excellence while also selecting low code and user-friendly business technologies.
Enterprises will also focus on decision intelligence to help them analyze and make better decisions through augmented analytics and AI Decision models. Applications will be composable, based on Packaged Business capabilities that can be assembled in low code environments and cloud-native platforms, allowing enterprises to get a lot more agile. Information security, data protection, and privacy will see heightened investments.
by Srividya Kannan, Founder, Director, Avaali Solutions Pvt Ltd. on year-end 2021.