“Digitalization is yielding vast quantities of data, which offer opportunities for business, human well-being and the environment, if used effectively. New business models and technologies are allowing organizations to use data to generate top-line value while preserving individual agency and privacy.”
More than 70% of survey respondents rate digital twins as an important strategic initiative. By 2023, 65% of global manufacturers will have realized savings of 10% in operational expenses. This comes from digital twins driven by IoT and machine learning.
According to the latest worldwide market study by Juniper Research, the total value of B2B cross-border payments will reach $35 trillion in 2022. That’s up from a COVID-related low of $27 trillion in 2020, representing 30 percent growth.
Financial-technology companies are changing the face of finance. Over the past ten years, disruption in the payments space has expanded to every corner of finance. Even areas once assumed to be safe are seeing new entrants and competitive threats.
Globally, the ‘digital health’ market will grow by close to 20% this year, which amounts to an increase of over $200 billion. While APAC and Africa are expected to see the fastest growth in this sector, North America will hold the largest share of the market.
“Governments must develop holistic national digital strategies across industry sectors to connect the unconnected. Portions of COVID-19 stimulus packages should be allocated toward the digitalization of education, healthcare and key industries.”
“In 2016, 51.8% of all internet users were robots. Currently, around 70% of all internet traction is handled by robots. RPA software gained traction by taking software robots and pointing them at existing applications to mimic human/keyboard interactions and automate repeatable and well-understood processes.”
“For the past 10 years, a variety of game-changing emerging technologies were a big focus for companies looking to innovate and differentiate. This tech enthusiasm may deflate during the next few years. Begin thinking about restructuring plans for digital transformation in the current environment.”
The use of streaming services, online gaming, social media, videoconferencing for personal, corporate, and education purposes is on the rise and is expected to grow in the coming years. The changes will significantly alter our daily lives in many ways.
FinTechs have the potential to be the engines of innovation we need during the Great Reset. The findings of the World Economic Forum’s FinTech Cybersecurity Consortium provide a starting point on the path to a security management system to get them there.