Entertainment Content Creation on Verge of Major Disruption via Digital Transformation – Vince Pizzica
"When it comes to high-production content creation – the big movies, TV shows and live events that continue to drive consumer engagement – we haven't really seen a lot of change in over a hundred years," says Vince Pizzica in a podcast interview for journalists.
A veteran c-suite executive and board advisor in the technology, media and telecommunications (TMT) space, Pizzica has spent the past four decades influencing the strategic direction of major companies in the sector – including Telstra, Siemens, Alcatel, Lucent and Technicolor – while guiding a new generation of ET players who promise to completely redirect the trajectory of the industry (see sidebar).
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Emerging AI Risks Underscore Urgent Need for Responsible AI; More than 70% of Organizations Are Struggling to Keep Up — BCG & MIT
The AI landscape changed dramatically over the past year with the swift adoption of generative AI, making it more difficult for organizations to be responsible and putting pressure on Responsible AI (RAI) programs to keep up with continuous advances. According to new research by MIT Sloan Management Review and Boston Consulting Group, 53% of organizations rely exclusively on third-party AI tools, having no internally designed or developed AI of their own, and 55% of all AI-related failures stem from third-party AI tools.
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Only 8% of Customers Used a Chatbot During their Most Recent Customer Service Interaction, Finds Gartner Survey
Only 8% of customers used a chatbot during their most recent customer service experience, according to a survey by Gartner, Inc. Of those, just 25% said they would use that chatbot again in the future. Despite customer service and support leaders’ growing focus on chatbots, customer use of them remains low, suggesting they don’t consistently help customers accomplish their goals.
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Just 14% of Frontline Employees Have Received Training to Address How AI Will Change Their Jobs, but 86% of Employees Say They’ll Need It — BCG
From ChatGPT to DALL-E and all the technologies in between, the new wave of generative AI systems is transforming business rapidly. While employees are optimistic about how AI—and generative AI, in particular—will affect their work, feelings vary considerably by seniority and country.
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Despite Softening Macroeconomic Environment, APAC Tech Spend Will Remain Robust And Grow By 5.8% In 2023, Finds Forrester
In spite of challenges including fragile post-pandemic supply chains; a shortage of science, technology, and engineering workers; and questions about how quickly China can restart its economy, APAC tech spending will continue to grow by 6.8% to 7.3% per year from 2024 to 2027. In 2023, Forrester projects regional tech spend growth to be:
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Coordination Among Chip Makers, Consumer Electronic Manufacturers, Service Providers and Content Developers Key to Accelerating HDR Adoption in Asia -- Rick Dumont
Adoption of high dynamic range (HDR) technology is poised to take a different and more dynamic path to market-wide implementation in Asia compared to North America and Europe, according to Rick Dumont, Head of Business Development for Wireless and HDR, Philips.
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Four Myths Obscuring Cybersecurity’s Full Value -- Gartner
Four common myths obscure the full value of cybersecurity for the enterprise and inhibit security program effectiveness. According to Gartner, Inc. CISOs must embrace a “Minimum Effective” mindset to maximize cybersecurity’s impact on the business. Many CISOs are burnt out and feel they have little control over their stressors or work-life balance. Cybersecurity leaders and their teams are putting in the maximum effort, but it’s not having maximum impact.
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Time to Level up 5G and Core? New Insights from Frost & Sullivan
The telecom industry has witnessed rapid 5G deployments globally. Digitally-enabled services such as 5G cameras, AR-assisted maintenance, remote control, and robotic patrolling are now being widely used in verticals such as mining, healthcare, transport, and manufacturing. But despite the rapid deployment and adoption of 5G, there is still room for considerable improvement to unleash the true potential of this technology. With 6G technology likely to be commercially deployed only by 2030, the existing 5G technology might soon need to level up.
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Financial Services Organizations Adopt Cloud-Oriented Risk and Security Management Strategies — Frost & Sullivan
Organizations have been migrating to the cloud to help them achieve business goals of growing revenue, improving customer experience, and increasing operational efficiency. A recent study found that 73% of them see the cloud as the most important technology to achieve business priorities, among other technologies including Big Data Analytics, IoT, Collaboration & Conferencing, and AI/ ML.
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In Era of Finance AI, Gartner’s Dennis Gannon Identifies Three Pillars of Effective CFO Leadership
The rapid progress of AI tools in finance has made it more important than ever for CFOs and finance leaders to demonstrate three core pillars of human leadership: adaptivity, empathy, and authenticity. As AI becomes ever more capable and carries out more work, inevitably, the question arises about whether AI replaces human employees. The picture emerging as organizations put advanced digital technology into action is a lot more nuanced than whether a job stays or doesn’t.
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Government Support and Emerging Technologies Drive China’s Intelligent and Connected Vehicle (ICV) Market — Frost & Sullivan
The 2023 Shanghai Auto Show was an unequivocal demonstration of the technological capabilities of Chinese automakers. Driven by forward-looking regulation and breakthrough technologies, China has been at the forefront of four key megatrends transforming the mobility space. Rapid growth for China’s ICV market is spurred by policy support, subsidies, new business models, and advances in enabling technologies like artificial intelligence and autonomous driving.
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Nearly 80% of Companies Worldwide Rank Innovation as a Top-Three Priority for 2023, Finds BCG
Despite global economic uncertainty, innovation rose as a top corporate priority for 2023. According to a new report released by Boston Consulting Group, 79% of companies around the world see innovation as a top-three priority this year, and 66% plan to increase spending—42% by more than 10%. This starkly contrasts the last downturn in 2009, when fewer than two-thirds of companies ranked innovation as a top-three priority, and only 58% planned to increase spending.
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Two-thirds of Organizations in Asia/Pacific are Exploring, or Have Invested in, Generative AI Technologies in 2023 -- IDC
According to a recent IDC report, about 32% of the Asia/Pacific organizations surveyed expressed their commitment to invest in generative AI technologies, with 38% exploring use cases to implement Generative AI. These digital-first enterprises are looking to apply generative AI as a key lever to elevate enterprise intelligence and drive internal efficiencies.
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Streaming Service Providers Explore Options for Optimizing the Delivery of SDR and HDR Content for Live and On-Demand Applications
Demand for high-dynamic range (HDR) content continues to rise, and streaming service providers are wrestling with how best to manage the transition from a predominantly SDR environment. According to Alan Stein, vice president of InterDigital, leaders in the OTT community are exploring ways to integrate and optimize SDR and HDR operations to simultaneously deliver live and on-demand content effectively and economically rationally.
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Smart Home Healthcare Revenues Grow to US$26.5 Billion in 2023, Driven by the Remote Monitoring Opportunity -- ABI Research
The smart home healthcare market continues to grow, but the scale of the opportunity remains underpenetrated. Last year, new smart home healthcare shipment and service revenues grew 25% to reach US$22.9 billion worldwide, but that growth rate will be hard to sustain, despite the considerable potential for further growth.
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Six ChatGPT Risks Legal and Compliance Leaders Must Evaluate — Gartner
Legal and compliance leaders should address their organization’s exposure to six specific ChatGPT risks, and what guardrails to establish to ensure responsible enterprise use of generative AI tools. LLM tools are prone to several risks, meaning legal and compliance leaders should assess if these issues present a material risk to their enterprise and what controls are needed, both within the enterprise and extended third and nth parties to avoid legal, reputational, and financial consequences.”
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New Cybersecurity Spend in Critical Infrastructure to Reach US$236 Billion by 2027 — ABI Research
With the impacts of COVID-19 on cybersecurity spending budgets behind industrial sectors, worldwide investments in Critical Infrastructure (CI) cybersecurity will display robust growth rates in all sectors. The global cybersecurity market was estimated at US$213 billion in 2022 and is projected to be more than US$380 billion by 2027.
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Inflation Fuels Telecom Services and Pay TV Market Growth in All Global Regions — IDC
Worldwide spending on Telecom Services and Pay TV Services reached $1,478 billion in 2022, increasing by 2.2% year over year. IDC expects Worldwide spending on Telecom and Pay TV services will increase by 2.0% next year and reach a total of $1,541 billion. The latest forecast is slightly more optimistic compared to last year, as it assumes a 0.3 percentage point higher growth in 2023. IDC believes this acceleration is a consequence of the increase in tariffs on telecommunication services fueled by inflation.
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High-Impact Spaces Are the Key to Elevated Collaboration Experiences: New Insights From Frost & Sullivan
As organizations solidify hybrid work programs, reliability, quality, and robustness of meeting spaces–ensuring technology works every time with minimal support – remains a top concern for IT and AV professionals. For business leaders, equitable experiences for remote and onsite meeting participants are now a high priority.
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The Need for Speed Drives Demand for Real-Time Payments in B2B Commerce -- Rodrigo Figueroa, Chargeback Gurus
Open banking initiatives have spurred rapid adoption of real-time payments (RTP) around the world, especially in countries like India, where 41 million RTP transactions are processed every day, and Singapore, where 80% of businesses and consumers are registered to use the national RTP scheme, PayNow. While the US hasn’t been quite as eager to embrace RTP, the trend shifts occasioned by the COVID-19 pandemic, along with some encouragement from the Federal Reserve, is driving growth and greater normalization of RTP options in domestic retail, person-to-person (P2P) and business-to-business B2B payment environments.
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