By the term “orchestration,” the first thing that comes to mind is the systematical or automated coordination and management of different components to achieve a particular goal. So, if you think of payment orchestration, it will mean coordinating and managing different payment services, payment methods, payment service providers, payment gateways, payment processors, and payment networks in a systematic and automated way to process payments smoothly, efficiently, and securely.
“Enterprise IT spending is recession-proof as CEOs and CFOs, rather than cutting IT budgets, are increasing spending on digital business initiatives,” said John-David Lovelock, Distinguished VP Analyst at Gartner. While economic turbulence may influence technology investments, it is not expected to significantly impact the overall enterprise technology spending.
As per the Internet World Stats information report, there are 2.4 billion Internet users worldwide. Per the United Nations factsheet on persons with disabilities, around 10 percent of the world’s population has some form of disability, which means more than 27 percent of potential users could have special needs when it comes to accessing the Internet. Accessibility issues can be categorized under four categories.
Medical devices have been used for centuries but are only being regulated recently to ensure patient safety. Every medical device must meet the requirements of the regulations in a country or region before entering the market. Very recently, going digital has changed not only our lifestyles but also the operations of medical devices.
ChatGPT was synonymous with Generative AI some time back, prompting me to explore its impact on the payments industry in a previous blog. However, it’s crucial to acknowledge that Generative AI is the encompassing circle in the Venn diagram, with ChatGPT being one of the circles nested within it. Today, let’s delve into the broader perspective of how Generative AI is poised to revolutionize the payments landscape.
Following the popularity of ChatGPT, AI (Artificial Intelligence) chatbots have become a trend in various fields. The application of these chatbots for organizations to provide immediate and accurate solutions is limitless. One such field is healthcare, where these health bots would play a vital role in helping patients by providing real-time virtual assistance whenever and wherever needed.
Customer services now constitute one of the key distinguishing factors of banks in an ever-changing environment. With increasing customer requirements, banks must adopt and incorporate novel technological methods to provide customized services. A very promising technology in this regard is generative AI. Generative AI in core banking systems will enable banks to transform their customer services by increasing efficiencies and building meaningful customer relationships.
In the world of data-driven decision-making, effective visualization is a cornerstone for translating complex data into actionable insights. Data visualization is a technique that makes information visually appealing by highlighting patterns and trends in the data and enabling readers to get new insights quickly. Different ways of visualization help the leadership team in their day-to-day decision-making.
