Five-to-ten year innovation horizon
loT
RPA
Build a business case
Current state
Data analytics
Cognitive enterprise
Your enterprise is now a model company of the future. Routine, repetitive tasks are automated and your employees are performing high-value activities. You are using technologies that are adaptive and interactive, which means that they able to understand context and learn from their environment.
Future state
Augmented reality
Artificial intelligence
Keep an eye on developments
Your employees perform a high-volume of repetitive and routine tasks manually, or with little-automated support. Under these conditions, human error is inevitable.
Manual enterprise
Pilot state
Blockchain
Natural language processing
Chatbots
Investigate and experiment
Click on timeline above to explore technologies
Experimentation state
A machine or software that manages, acts on or processes high-volume, repeatable tasks that previously required a human to perform.
Robotic process automation (RPA)
We predict that RPA will have the highest impact on cost efficiency for financial services
Cost efficiency
Risk transparency
Product agility
Data/Info leverage
Customer intimacy
WorkFusion
UiPath
Blue Prism®
Automation Anywhere
Vendors worth exploring:
An existing business process management (BPM) deployment.
A methodical, step-by-step targeted process automation plan.
A strong ROI framework to measure success.
Solid, documented processes and governance.
Keys to successful RPA implementation:
In the middle office
In the back office
In the front office
CLICK TO REVEAL
Click icon to reveal
You can implement RPA applications that can save your company time and resources as follows:
Interactive software components (services) that have their own function, or interface to other enterprise systems for the creation of business orchestration across complex data, technology, processes and functions.
Microservices / IoT
We predict that IoT will create the highest value for financial services by creating the heightened ability to leverage data:
Weaveworks
MuleSoft
Enterprise Web
Governor
Docker
Clear data and technology topography and taxonomy
Clear delineation between "big data" discovery projects and those challenges that are complex because of distribution and diversity
Keys to successful loT implementation:
You can adopt IoT applications that can save your company time and resources as follows:
Data analytics utilizes modeling focused on specific business problems or outcomes to identify patterns and anomalies. They provide actionable insight. Models improve over time based on feedback from actual results of prediction.
Data Analytics
We predict that data analytics will create high cost efficiency and a high ability to leverage data for financial services:
SAS Institute
Oracle R Enterprise
Microsoft
IBM
Access to predictive modeling tools, on demand or in-house
Access to data science resources, on demand or in-house
Secure data and encryption
Repository of business and customer data necessary to support each use case
Adoption of a standard predictive use case model
Keys to successful data analytics implementation:
An existing business process management (BPM) deployment
A methodical, step-by-step targeted process automation plans
A strong ROI framework to measure success
Solid, documented processes and governance
Five to ten year innovation horizon
The advanced ability of a computer or program to understand human speech (speech recognition) or written text (unstructured text) and derive intelligence, take action or present results that normally require manual interpretation.
Natural language processing (NLP)
We predict that NLP will create unprecedented opportunities to leverage data for financial services:
NLP
Narrative Science
Kasisto
HelloVera
Cortical.io
AlphaSense
Solid, documented processess
Intelligence character recognition (ICR)
Optical character recognition (OCR)
Keys to successful NLP implementation:
You can adopt applications for NLP that can save your company time and resources as follows:
An integration approach (ledger) where financial activities — registered as linked "blocks" — are recorded as a chronological "chain." Everyone can see common information, common status and all changes without the need for a central authority.
Blockchain offers trust, transparency and a consistent approach to financial supply chain integration, which constitutes a significant advantage for risk management:
OpenBazaar
Gecko Governance
Factom
Euklid
Chain of Things
• Risk Ripple • Eris • Corda
• IBM Hyperledger • Ethereum • Stellar
Solid process consistency
Blockchain standard:
Keys to successful blockchain implementation:
For payment and clearing
For B2B services
For trading and capital markets
For consumer services
A computer program that conducts a conversation via auditory or text methods. Such programs are designed to simulate human conversation and are typically used in dialog systems, such as customer service and/or information acquisition.
Chatbot
We predict that chatbots will improve cost efficiency, while heightening customer intimacy for financial services:
Nuance
IPSoft
Creative Virtual
24]7
An ongoing broader process automation effort in which to integrate NLP
Solid, documented processes and governance in place
Keys to successful chatbots implementation:
The development of systems and software able to perform tasks that normally require human intelligence, such as reconciliation, investigation, validation and repair within complex and multi-input processes.
Artificial Intelligence (AI)
AI will build upon RPA, NLP and other technologies. Long term, it will impact financial services through data, cost efficiency and risk management:
AI
QuantaVerse
H20.ai
DataRobot
Afiniti
Ayasdi
Large scale "training" data and activities (tensor flow, DSSTNE, Parsey McParseface, FAIR, Warp-CTC)
Successful machine learning, NLP and RPA investments
Strong labeling focus on legacy data sets
Keys to successful AI implementation:
You can adopt applications for AI that can save your company time and resources as follows:
Interactive visualization that superimposes computer generated information into real life through the use of classes or projection to assist in real time activities. Differs from virtual reality, which is fully immersive.
Augmented Reality (AR)
We predict that long term, AR will revolutionize product agility in financial services:
AR
Upskill
Marxent
Blippar
Apple
Established cloud infrastructure
Strong and effective mobile strategy / infrastructure
Common interaction technology / portal
Common customer data and expected experience
Keys to successful AR implementation:
You can adopt applications for AR that can save your company time and resources as follows: