Over the past year, Ecosystm has conducted extensive research, including surveys and in-depth conversations with industry leaders, to uncover the most pressing topics and trends. And unsurprisingly, AI emerged as the dominant theme. Here are some insights from our research on Public Sector.
Click here to download ‘AI in Government: Success Stories & Insights’ as a PDF
From improving citizen services to infrastructure management, AI is empowering governments to deliver efficient, effective, and equitable public services. While challenges like data privacy and the need for investments in technology infrastructure remain, governments that can overcome these obstacles and harness the power of AI will be well-positioned to shape the future of public service.
Despite the challenges, Public Sector organisations are witnessing early AI success in these 3 areas:
- 1. Public Services & Citizen Engagement
- 2. Infrastructure Management & Optimisation
- 3. Internal Operations & Efficiency
Public Services & Citizen Engagement
- Chatbots & Virtual Assistants. Providing citizens with information and support
- Online Services. Delivering government services online, such as healthcare and education
- Citizen Engagement. Gathering and analysing citizen feedback to deepen engagement
“The pandemic accelerated the development of AI-based apps and services, which provide answers to citizen inquiries and manage bookings. Initially introduced for contactless interaction due to health concerns, these technologies are now boosting employee productivity and eliminating bottlenecks.” - CITIZEN SERVICES LEADER
Infrastructure Management & Optimisation
- Traffic Management. Optimising traffic flow and reducing congestion
- Urban Planning. Analysing urban growth patterns and planning for future development
- Asset Management. Managing and maintaining government assets efficiently
“AI solutions have greatly enhanced visibility across multiple key departments – detection of roadblocks and accidents, real-time updates on drainage issues during rainy seasons, remotely monitoring water quality, and so on.” - URBAN DEVELOPMENT LEADER
Internal Operations & Efficiency
- Workflow Automation. Automating various government processes to improve efficiency
- Decision Support. Providing decision-makers with AI-powered insights and recommendations
- Resource Management. Optimising the allocation and management of resources
“We are committed to increase our investments on process efficiency, with the ultimate objective of providing better citizen services.” - CIO, CITIZEN WELFARE ORGANISATION
Over the past year, Ecosystm has conducted extensive research, including surveys and in-depth conversations with industry leaders, to uncover the most pressing topics and trends. And unsurprisingly, AI emerged as the dominant theme. Here are some insights from our research on the Healthcare industry.
Click here to download ‘AI in Healthcare: Success Stories & Insights’ as a PDF
AI is transforming the healthcare industry, offering unprecedented opportunities to improve patient outcomes and streamline operations. However, the successful implementation of AI in healthcare is not without its challenges. Those who can navigate these complexities and harness the power of AI will emerge as industry leaders, driving innovation and shaping the future of healthcare.
Despite the challenges, Healthcare organisations are witnessing early AI success in these 3 areas:
- 1. Diagnostics
- 2. Care Management
- 3. Operational Efficiency & Optimisation
Diagnostics
- Image Analysis. Analysing medical images (e.g., X-rays, MRIs) to detect diseases and abnormalities
- Diagnosis. Assisting clinicians in identifying and diagnosing diseases
- Early Detection. Detecting diseases at an early stage for more effective treatment
“Diagnostics is where our AI journey began – starting with image analysis for eye diseases, evolving to x-ray screening tools, and most recently, investing in digital stethoscopes for our doctors and nurses.” – CLINICIAN LEADER
Care Management
- Clinical Decision Support. Providing clinicians with recommendations and insights to improve patient care
- Personalised Treatment Plans. Personalising treatment protocols based on patient data and genetics
- Chronic Disease Management. Monitoring chronic diseases over multiple years
“Clinical decision support isn’t new, but AI has revolutionised it by enabling the system to send alerts and warnings proactively, rather than only when prompted.” – CLINICIAN LEADER
Operational Efficiency & Optimisation
- Supply Chain Management. Optimising inventory and supply chain processes
- Appointment Scheduling. Automating appointment booking and management
- Workflow Optimisation. Streamlining workflows and improving efficiency of clinical staff
“Patient satisfaction extends beyond clinical outcomes. Aspects like shorter waiting times during appointments, the availability of medications, and automated responses to common queries significantly enhance patient satisfaction. These are areas where we have successfully implemented AI.” – COO
As increasing climate chaos creates a disruptive impact on businesses, climate crisis, resource scarcity and environmental destruction are no longer just news stories — they are daily realities affecting all of us. Despite numerous sustainability initiatives, progress is not happening fast enough to meet the demands of a growing population and a rapidly changing planet.
The second edition of The Global Sustainability Barometer study, commissioned by Kyndryl and Microsoft, examines the roles that strategy, data and AI play in achieving sustainability goals and highlights the gaps between organizational intent and action.
Conducted by Ecosystm in August and September of 2024, this study reflects the perspectives of 1,355 global sustainability leaders spanning 20 countries and nine industries. Respondents were evenly split between technology leaders and sustainability leaders from various business lines.
Download Whitepaper – 2024 Global Sustainability Barometer Study
(Clicking on this link will take you to the Kyndryl website where you can download the whitepaper)
Over the past year, Ecosystm has conducted extensive research, including surveys and in-depth conversations with industry leaders, to uncover the most pressing topics and trends. And unsurprisingly, AI emerged as the dominant theme. Here are some insights from our research on the Retail industry.
Click here to download ‘AI in Retail: Success Stories & Insights’ as a PDF
From personalised product recommendations to predictive analytics, AI is helping retailers deliver exceptional customer experiences and optimise their operations. However, many retailers are still grappling with the complexities of AI implementation. Those who can successfully navigate this challenge and harness the power of AI will emerge as industry leaders, driving innovation and shaping the future of retail.
Despite the challenges, Retail organisations are witnessing early AI success in these 3 areas:
- 1. Customer Experience & Engagement
- 2. Supply Chain Optimisation
- 3. Fraud & Risk Analysis
Customer Experience & Engagement
- Conversational AI. Providing real-time customer support and answering queries
- Personalisation. Offering tailored product suggestions based on customer preferences and behaviour
- Virtual Try-On. Allowing customers to visualise products in different settings using AR
“AI has helped us to refine our customer chatbots to allow for more self-service. We’ve experienced faster customer order processing and quicker resolution of issues, putting control directly in the hands of our customers.” – CX LEADER
Supply Chain Optimisation
- Inventory Management. Automating inventory management processes to ensure optimal stock levels
- Supply Chain Visibility. Monitoring and optimising supply chain operations, including logistics and distribution
- Demand Forecasting. Predicting sales and demand trends to optimise inventory and production planning
“We use AI to optimise the supply chain, saving operational costs. Digital supply chains and cloud-based tracking systems streamline operations and enhance efficiency.” – CFO
Fraud & Risk Analysis
- Fraud Detection. Identify and prevent fraudulent activities, such as online fraud and chargebacks
- Risk Assessment. Assessing risk factors associated with customer transactions and preventing losses
- Customer & Market Insights. Understanding customer behaviour, market trends, and growth opportunities
“With eCommerce as a key market force, understanding customer habits is crucial to ensuring we have the right products in stock and optimising our pricing strategy.” – COO
Over the past year, Ecosystm has conducted extensive research, including surveys and in-depth conversations with industry leaders, to uncover the most pressing topics and trends. And unsurprisingly, AI emerged as the dominant theme. Here are some insights from our research on the Manufacturing industry.
Click here to download “AI in Manufacturing: Success Stories & Insights” as a PDF
AI is revolutionising production lines, supply chains, and product development in the manufacturing sector. Yet, many manufacturers find themselves stuck between ambition and execution. Those who bridge this gap will gain a competitive edge, driving innovation and leading the industry forward.
Despite the challenges, Manufacturing organisations are witnessing early AI success in these 3 areas:
- 1. Quality Control & Assurance
- 2. Supply Chain Management & Optimisation
- 3. Process Automation & Efficiency
Quality Control & Assurance
- Defect Detection. Identifying defects in products and improving quality
- Product Inspection. Implementing AI-powered vision systems to inspect products and ensure they meet quality standards
- Data Analysis. Analysing operational data and customer feedback to identify operations and product issues
“AI is the future of design. It streamlines the design process, leading to faster time-to-market and superior products.” – OPERATIONS LEADER
Supply Chain Management & Optimisation
- Inventory Management. Optimising inventory levels and reducing costs
- Supply Chain Visibility. Gaining real-time visibility into supply chain operations
- Demand Forecasting. Predicting demand for products to improve production planning and inventory management
“By leveraging AI, we’re not just optimising our supply chain; we’re pioneering sustainable practices to reduce our carbon footprint.” – CIO
Process Automation and Efficiency
- Process Optimisation. Identifying areas for improvement and potential operational bottlenecks
- Predictive Maintenance. Predicting equipment failures and preventing downtime
- Customer Feedback Analysis. Analysing customer feedback to improve design processes, products, and services
“Our goal is to build intelligent manufacturing plants. By proactively monitoring equipment health, we minimise downtime and maximise productivity – we have set a new internal standard for operational efficiency in the last two years.” – HEAD OF PRODUCTION
AI is driving efficiency, innovation, and decision-making across industries in New Zealand. From automating repetitive tasks to improving customer engagement, its applications are reshaping how businesses operate. However, scaling AI initiatives remains challenging due to challenges like data accessibility, regulatory complexities, and workforce readiness. Achieving success requires aligning AI efforts with strategic priorities and embedding them into organisational practices.
This eBook takes a look at the opportunities and challenges of AI adoption in New Zealand, providing actionable insights for scaling initiatives effectively. It combines expert perspectives and research to highlight strategies for building robust data foundations, fostering a culture of trust and innovation, and addressing compliance and sustainability concerns. These steps empower organisations to unlock AI’s full potential while ensuring long-term competitiveness.
Download eBook: Strategies for AI Excellence in New Zealand Organisations
(Clicking on this link will take you to the Cognizant website where you can download the resource)
Over the past year, Ecosystm has conducted extensive research, including surveys and in-depth conversations with industry leaders, to uncover the most pressing topics and trends. And unsurprisingly, AI emerged as the dominant theme.
Here are some insights from our research.
Click here to download ‘AI in BFSI: Success Stories & Insights’ as a PDF
From personalised recommendations to streamlined operations, AI is transforming the products, services and processes in the BFSI industries. While leaders realise that AI holds significant potential, turning that potential into reality is often tough. Many BFSI organisations struggle to move beyond AI pilots because of some key barriers.
Despite the challenges, BFSI organisations are witnessing early AI success in these 3 areas:
- 1. Customer Service & Engagement
- 2. Risk Management & Fraud Detection
- 3. Process Automation & Efficiency
Customer Service & Engagement Use Cases
- Virtual Assistants and Chatbots. Delivering real-time product information and customer support
- Customer Experience Analysis. Analysing data to uncover trends and improve user experiences
- Personalised Recommendations. Providing tailored financial products based on user behaviour and preferences
“While we remain cautious about customer-facing applications, many of our AI use cases provide valuable customer insights to our employees. Human-in-the-loop is still a critical consideration.” – INSURANCE CX LEADER
Risk Management & Fraud Detection Use Cases
- Enhanced Credit Scoring. Improved assessment of creditworthiness and risks
- Advanced Fraud Detection. Easier detection and prevention of fraudulent activities
- Comprehensive Risk Strategy. Assessment of risk factors to develop effective strategies
“We deployed enterprise-grade AI models that are making a significant impact in specialised areas like credit decisioning and risk modelling.” – BANKING DATA LEADER
Process Automation and Efficiency
- Backend Process Streamlining. Automating workflows and processes to boost efficiency
- Loan & Claims Processing. Speeding up application and approval processes
- Invoice Processing. Automating invoice management to minimise errors
“Our focus is on creating a mindset where employees see AI as a tool that can augment their capabilities rather than replace them.” – BANKING COO
The cryptocurrency industry is no longer just a niche market; it’s a burgeoning global financial force, poised to reach a staggering USD 11.7 billion by 2030. Fuelled by rapid technological advancements, evolving regulatory landscapes, and increased mainstream adoption, the sector is facing both unprecedented challenges and exciting opportunities. As blockchain and digital currencies continue to disrupt traditional finance, understanding the key trends driving these changes is essential for anyone navigating the crypto ecosystem.
#1 AI’s Game-Changing Impact on Crypto Exchanges
AI is revolutionising the way crypto exchanges operate – from enhanced efficiency and security to a more personalised user experience.
One of the most significant contributions of AI is the use of automated trading bots. These bots can analyse vast amounts of market data, predict price movements, and execute trades with precision, often outperforming human traders. By operating 24/7 and eliminating emotional biases, AI-powered bots offer a significant advantage in the fast-paced world of cryptocurrency trading.
AI also plays a crucial role in improving security on crypto exchanges. By using machine learning algorithms to monitor and analyse transaction patterns, AI can identify and mitigate the risks of hacks and fraud, which have plagued the cryptocurrency space for years. For example, in 2023 alone, crypto scams led to losses of over USD 5.6 billion in the US.
AI personalises the user experience by offering tailored recommendations based on individual trading behaviour. Additionally, AI performs market sentiment analysis by processing unstructured data from social media, news outlets, and other online platforms, providing valuable insights into market trends. AI also plays a crucial role in improving security on crypto exchanges.
#2 Global Cryptocurrency Regulations: A Maturing Landscape
Cryptocurrency regulations are evolving rapidly around the world as governments strive to manage risks and protect consumers. The Markets in Crypto-Assets (MiCA) regulation in the EU is a significant milestone, requiring licensing for all crypto firms operating within the bloc and mandating stringent consumer protection measures, including capital requirements for stablecoins.
In the US, efforts like the Financial Innovation and Technology (FIT) for the 21st Century Act and the Blockchain Regulatory Certainty Act are expanding oversight of the industry and clarifying the roles of different regulatory bodies. Similar regulatory movements are underway across Asia. Japan has recognised crypto as legal property, and South Korea passed the Virtual Asset Users Protection Act to increase transparency. However, countries like China and India maintain restrictive approaches, with bans on trading and mining.
Brazil’s 2023 Cryptoassets Act demonstrates the global trend towards more robust regulation, aiming to prevent fraud in the crypto sector.
#3 Mergers and Acquisitions: A Strategic Play in the Crypto Space
As traditional financial institutions race to embrace the digital asset revolution, mergers and acquisitions are becoming a strategic tool to gain a foothold in the cryptocurrency market. By acquiring crypto companies with real-world applications and robust infrastructure, these institutions aim to expand their digital asset capabilities and stay ahead of the curve.
Examples like Ripple’s acquisition of Metaco and Coinbase’s purchase of One River Digital highlight the growing interest in integrating traditional financial services with blockchain technology. These M&A deals not only enhance service offerings but also facilitate entry into new markets and the development of innovative solutions.
Looking ahead, we can expect to see even larger financial institutions playing a more active role in crypto mergers and acquisitions. As the demand for scalable, compliant blockchain solutions continues to grow, strategic partnerships and acquisitions will become increasingly important in paving the way for broader adoption of digital assets.
#4 CBDCs and Stablecoins: A New Era in Digital Finance
Central Bank Digital Currencies (CBDCs) are gaining significant traction, with 86% of central banks actively exploring their potential. Major economies like the UK, EU, and US are in various stages of CBDC research and development, carefully considering privacy concerns, financial stability, and the impact on commercial banks. Smaller nations like the Bahamas, Nigeria, and Jamaica have taken the lead, launching CBDCs to serve as digital alternatives to traditional fiat currencies.
In the private sector, stablecoins have experienced substantial adoption. Major financial institutions and payment providers are integrating stablecoins like USDC and Tether (USDT) into their services, processing billions in daily transaction volume. This growth has prompted regulators worldwide to develop comprehensive frameworks, such as the EU’s MiCA regulation and similar efforts in the UK and US. These regulatory initiatives aim to provide clear guidelines while fostering innovation.
As traditional financial institutions explore stablecoin integration for both retail and wholesale applications, the future of digital finance looks increasingly promising.
#5 The Focus on User Experience and Security
As the crypto landscape continues to evolve, the focus on user experience and security has never been more critical. Cyberattacks are becoming increasingly sophisticated, targeting crypto exchanges and DeFi platforms alike. Historically, the industry has been developer-centric, with little attention paid to creating intuitive platforms for everyday users. However, as more consumers embrace blockchain-based financial services, there is a growing demand for seamless, user-friendly interfaces.
Security is another major concern. High-profile hacks and fraud have tarnished the reputation of the crypto industry, leading to skepticism among users and regulators. DeFi platforms, in particular, have been frequent targets due to vulnerabilities in smart contracts. To foster widespread trust and adoption, the industry must prioritise integrating security features by design, such as blockchain analytics for detecting fraudulent activities and advanced risk management tools.
Emerging technologies like social recovery wallets, which help users regain access to lost funds, and improvements in blockchain scalability and efficiency, will be instrumental in attracting more mainstream users.
Crypto’s Future: A Balancing Act
The future of the crypto industry hinges on its ability to strike a delicate balance between innovation, regulation, and security. As digital assets become more deeply integrated into mainstream finance, we can expect to see a surge in tokenised real-world assets, stablecoins, and central bank digital currencies.
Collaboration between regulators, financial institutions, and tech innovators will be essential in shaping a secure and inclusive ecosystem. Ultimately, the success of crypto will depend on its ability to build trust while delivering the efficiency and transparency that define a rapidly evolving digital economy.
Join us for an enlightening conversation with Shayan Hazir, Chief Digital Officer, ASEAN at HSBC, and Sash Mukherjee, VP of Industry Insights at Ecosystm, as they explore the profound impact of Technology on the financial landscape.
In this comprehensive discussion, Shayan sheds light on the shape of innovation in today’s tech-centric world and the challenges of orchestrating innovation within large organisations. He also addresses the evolving expectations of younger generations stepping into the role of banking customers.
Shayan further examines the strategic innovation approach in banking, discussing how legacy systems, governance, and the balance of investment priorities impact the innovation journey. He shares his perspective on fostering a culture of experimentation and responsibly embracing emerging technologies like generative AI.
Additionally, Shayan discusses the transformative potential of blockchain, including its role in central bank digital currencies (CBDCs) and tokenised assets, emphasising the necessity for technology convergence to enhance customer experiences.
Throughout this dialogue, he underscores the importance of collaboration between regulators and financial institutions to create safe environments for innovation.
🎧 Don’t miss this insightful dialogue—listen to the complete podcast here.
Podcast: Play in new window | Download (Duration: 27:39 — 6.6MB)
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