Businesses constantly seek innovative solutions to maintain competitiveness and resilience in an ever-changing landscape. A transformative force that has emerged beyond traditional AI applications is Generative Artificial Intelligence (AI). In this blog, we will explore the role of Generative AI in shaping business strategies using data-driven insights and real-world applications.

Generative AI can create content autonomously, mimicking human-like creativity. This technology is revolutionizing the way businesses adapt and thrive in dynamic markets. According to a study by McKinsey, integrating AI into business strategies yields a 20% improvement in time-to-market and a 50% reduction in costs.

Establishing ethical guidelines and ensuring transparency, accountability, and bias mitigation should be integral components of any Generative AI strategy. Integration strategies also play a pivotal role in successful AI implementation.

Forbes Insights’ survey highlights that 65% of executives believe clear integration strategies aligned with business goals are crucial. Companies that seamlessly integrate Generative AI into their workflows are better positioned to harness its full potential.

At Norwin Technologies, we recognize the transformative power of Generative AI in shaping business strategies. As we navigate the ever-changing landscape of technology, we are committed to providing our clients with innovative solutions that leverage the full potential of Generative AI.

 Generative AI is a transformative force that shapes business strategies. Its impact is far-reaching, from content creation to personalized customer experiences. Embracing Generative AI is not just an option; it’s a strategic imperative that will define the future of innovation and success.

The tech landscape is poised for groundbreaking advancements that promise to reshape industries and redefine the way we live and work. For businesses aiming to stay at the forefront of innovation, it’s crucial to anticipate the trends shaping the digital landscape in 2024. Let’s delve into the top 10 technology trends that will be at the forefront, driving innovation and transformation.

Artificial Intelligence and Machine Learning

Artificial Intelligence (AI) and Machine Learning (ML) have been on the horizon for years, but 2024 will witness an unprecedented leap in their capabilities. From enhancing customer experiences to optimizing business processes, AI and ML will be integral to decision-making. According to a recent report by Gartner, “AI will be a mainstream customer experience investment in 70% of digital businesses by 2024.”

5G Technology Expansion

The rollout of 5G networks is set to revolutionize connectivity, enabling faster data speeds and lower latency. This will enhance mobile experiences and pave the way for the Internet of Things (IoT) to flourish. “5G is not just an incremental improvement; it’s a game-changer,” says industry expert Jane Smith. “Businesses should prepare for a new era of connectivity and possibilities.”

Edge Computing

As the volume of data generated by IoT devices skyrockets, edge computing will emerge as a critical technology stack component. Edge computing will gain prominence as organizations seek to process data closer to the source, reducing latency and improving efficiency. This trend is set to empower businesses with real-time data processing capabilities.

Cybersecurity Advancements

As technology evolves, so do cyber threats. Cybersecurity will be a top priority in 2024, focusing on proactive measures and advanced threat detection. With increasingly sophisticated cyber threats, businesses will invest heavily in advanced threat detection, zero-trust frameworks, and employee training to fortify their defenses.

Augmented and Virtual Reality Integration

Augmented Reality (AR) and Virtual Reality (VR) will transcend gaming and entertainment, finding applications in various industries. AR and VR technologies will redefine how we interact with digital information, from virtual training simulations to augmented maintenance procedures. In 2024, these immersive technologies will revolutionize training programs, design processes, and customer interactions, offering businesses new avenues for engagement and innovation.

Blockchain for Secure Transactions

Blockchain technology will continue to disrupt industries, especially in finance and supply chain management. “Blockchain’s decentralized and transparent nature makes it a robust solution for secure and traceable transactions,” explains blockchain expert Emily Turner. As organizations prioritize data integrity, blockchain adoption will soar in 2024.

Quantum Computing

Quantum computing is on the brink of becoming a reality, promising unprecedented computing power. The potential for quantum computing to revolutionize complex problem-solving and accelerate scientific breakthroughs positions it as a technology to watch closely in the coming year.

Biometric Authentication

Biometric authentication methods, such as facial recognition and fingerprint scanning, will become increasingly prevalent in 2024. Allied Market Research projects that the global biometrics market will reach $68.6 billion by 2025. Businesses will prioritize secure and user-friendly authentication methods, recognizing the importance of protecting digital identities.

Robotic Process Automation (RPA)

RPA will continue to streamline workflows and automate routine tasks, freeing up human resources for more strategic initiatives. “RPA is a game-changer for repetitive and rule-based tasks, freeing up human resources for more strategic initiatives,” states automation expert Lisa Thompson. Businesses embracing RPA can expect increased efficiency and cost savings.

Sustainable Technology Solutions

As environmental concerns take center stage, sustainable technology solutions will gain prominence. Research by Gartner predicts that by 2024, 60% of data centers will implement advanced power and cooling solutions. As businesses prioritize sustainability, technologies that reduce energy consumption and promote eco-friendly practices will gain traction.
From energy-efficient data centers to eco-friendly devices, businesses will be under increasing pressure to adopt environmentally responsible practices.

The technology landscape of 2024 promises an exciting journey of innovation and transformation. Businesses that embrace these trends and adapt to the evolving tech ecosystem will be well-positioned to thrive in the digital age. While we commit to staying at the forefront of these technological advancements, ensuring that our clients benefit from cutting-edge solutions that drive success in the future, it would be fun to see where the #ittrends take us.

AI promises to be one of the most disruptive and innovative technologies during the next 10 years. Based on the 2019 Gartner CIO Survey, 14% of organizations employ AI and nearly 50% intend to do so in 2020. Face of the traditional service desk is changing with advent of AI.

According to Gartner, by 2020, 25% of customer service and support operations will integrate virtual customer assistant technology across engagement channels, up from less than 2% in 2015.

Gartner uses the umbrella term “intelligent automation” to cover a variety of strategies and technologies. These range from rapid-automation technologies (i.e., robotic process automation [RPA] software or scripting) to artificial intelligence (AI) approaches such as deep learning, machine learning, natural-language processing, speech recognition and synthesis, machine vision and machine reasoning.

IT self-service has been a key feature in any service desk operations. Self-service has been around for a while in the form of basic searches to the knowledge base. But these days it’s becoming much more sophisticated. With chatbots and intelligent search recommendations users are able to arrive at the right solution. AI is expected to increasingly help IT support teams in predictive analytics for incident management.

AI could be leveraged for service desk operations in three key areas:

Chatbots, knowledge management, and incident/request auto routing. Basic chatbots use NLP [natural language processing] through a conversational platform.

Action could be to carry out a targeted search of the knowledge base or answering faq type queries. The capability is also extended to take further actions based on user inputs using RPA technology. The actions could be from simple password resets to creation of VMs in private or public cloud. The auto-resolution feature helps overall IT support function in removing the manual overhead associated with high-volume, low-value service desk activities.

Routing incident and request tickets to proper support group takes substantial amount of time of a help desk agent. AI is leveraged in auto-classifying, prioritizing and routing incidents or service requests to appropriate support groups.

Another new capability evolving in AI driven service desks is AI-assisted knowledge management. This includes an intelligent search function that doesn’t just rely on specific keywords but understands context and meaning. The further advance capability is to display results of only the portion of knowledge article relevant to the search and not the entire article.

AI can also deliver intelligent autoresponders that reply to end-user emails with the most likely solutions. The AI capabilities not only help the end users but support functions as well. It can suggest relevant action to be performed based on prior and current incidents, changes, problems, known errors. The self-healing is achieved through Incidents getting automatically resolved based on prior knowledge.

The support level responsibilities are evolving as well. Gartner depicts spectrum of support levels as follows:

As we have seen earlier, AI is playing a key role in self-service, self-diagnostics and self-healing as well.
Gartner research shows that 75% of issues on average (service requests, common software issues, password resets, “how to” questions and outage notifications) have the potential to be resolved without requiring Level 1 or higher support (i.e., “Level 0 solvable”)
Thus, AI would help service desk operation to shift left as seen in the figure above. This shift helps in leveraging current support staff to do more complex operations at L3 levels by freeing them from performing low level, mundane tasks.

Summarizing, AI can assist in reducing overall costs, improving user experience, increasing agent productivity, helping forecast IT issues, identifying problems, managing changes better, and improving key metrics including resolution times and SLA compliance level.

Norwin Managed services serve unique benefits consisting of creative combination of virtual and human agents. Besides the advantages given above, the goal is to reduce overall service desk operations cost by 30-40% in the first year and 5-15% YoY leveraging technologies such as AI and RPA.

We can also analyze your service desk ticket data in identifying “automation candidates” and guide you in transforming your service desk operations.

In today’s rapidly evolving business landscape, it is crucial to have a strategic partner who can help you achieve quantifiable business outcomes through industry and functional expertise. At Norwin Technologies, we go beyond traditional solutions to deliver refined engagement models with the flexibility and bandwidth to deploy, even on short notice. With our extensive experience and knowledge, we leverage our expertise to provide unique solutions that empower our clients to achieve their best and optimize their workforce’s productivity and efficiency.

Short-Term and Long-Term Solutions Tailored to Your Needs

Norwin Technologies offers both short-term and long-term solutions that cater to high-end skills across mainstream and niche technologies, precisely addressing our clients’ critical needs. Our broad expertise across multiple domains and technologies enables us to create and design exceptional solutions for customers spanning diverse geographies. By maximizing value and improving return on investment, we help our clients stay ahead of the competition and achieve their strategic objectives.