Clover Infotech brings to you a curated round-up of important technology updates for the month of January’24
Oracle has been named as a Leader in the IDC MarketScapes for Worldwide Operations Management Solutions and Worldwide Order Orchestration and Fulfillment Applications reports.
“We believe being recognized as a Leader in Order Management and as a Leader in Merchandising Operations demonstrates the value our cloud solutions deliver to retailers worldwide,” said David Clifton, senior vice president of development for Oracle Hospitality and Retail. “In working closely with our customers, we continue to evolve our AI-infused applications with new functionality to enable retailers to operate more efficiently, protect margin, and provide an easy, enjoyable shopping experience to their customers.”…CONTINUE READING
#2 Oracle Embeds Generative AI across the Technology Stack to Enable Enterprise AI Adoption at Scale
Oracle recently announced the general availability of the Oracle Cloud Infrastructure (OCI) Generative AI service along with new innovations that make it easier for enterprises to take advantage of the latest advancements in generative AI. OCI Generative AI service is a fully managed service that seamlessly integrates large language models (LLMs) from Cohere and Meta Llama 2 to address a wide range of business use cases…CONTINUE READING
Oracle is a Leader in the 2023 Gartner Magic Quadrant™ for Cloud Database Management Systems and for the sixth consecutive year, Oracle Autonomous Database for Transaction Processing (ATP) scored highest in all three Use Cases in the 2023 Gartner Critical Capabilities for Cloud Database Management Systems for Operational Use Cases report. In addition, Oracle Autonomous Database for Data Warehouse (ADW) scored highest for Traditional Data Warehouse and second highest for Logical Data Warehouse Use Cases in the 2023 Gartner Critical Capabilities for Cloud Database Management Systems…CONTINUE READING
Gartner Survey Shows 5.8% of Average Supply Chain Budget to be Allocated to the Technology in 2024. Half of supply chain leaders plan to implement generative AI (GenAI) in the next 12 months, with an additional 14% already in the implementation stage, according to a survey by Gartner, Inc. The survey data also showed that chief supply chain officers (CSCOs) are dedicating 5.8% of their function’s budget, on average, to GenAI…CONTINUE READING
#5 Gartner Forecasts Worldwide IT Spending to Grow 6.8% in 2024
Worldwide IT spending is expected to total $5 trillion in 2024, an increase of 6.8% from 2023, according to the latest forecast by Gartner, Inc. This is down from the previous quarter’s forecast of 8% growth. While generative AI (GenAI) had significant hype in 2023, it will not significantly change the growth of IT spending in the near-term. “While GenAI will change everything, it won’t impact IT spending significantly, similar to IoT, blockchain and other big trends we have experienced,” said John-David Lovelock, Distinguished VP Analyst at Gartner…CONTINUE READING
Vodafone and Microsoft Corp. announced a new, far-reaching 10-year strategic partnership that leverages their respective strengths in offering scaled digital platforms to more than 300 million businesses, public sector organizations, and consumers across Europe and Africa. Through the partnership, the companies will collaborate to transform Vodafone’s customer experience using Microsoft’s generative AI; hyperscale Vodafone’s leading managed IoT connectivity platform…CONTINUE READING
As economic conditions improve, Forrester estimates that global tech spending will increase at a faster rate and will reach $4.7 trillion in 2024. This increased spending, combined with highly competitive markets, will put even more pressure on technology leaders to provide IT capabilities that help drive their firm’s growth agenda while managing costs and increasing efficiencies…CONTINUE READING
#8 Forrester: Global Tech Spends to Grow 5.3% in 2024, Reaching $4.7 Trillion
Forrester’s Global Tech Market Forecast 2023 to 2027 reveals that as economic conditions continue to improve, technology spend will grow 5.3% in 2024 — up from 3.5% in 2023. Two factors will primarily contribute to this growth: Increased spending on software and IT services, including generative AI (GenAI), cloud, security, and digital, and economic growth in Asia Pacific. By 2027, software and IT services will capture 69% of global tech spend, with investments in GenAI software predicted to reach $227 billion by 2030 at a 36% compound annual growth rate…CONTINUE READING
#9 60% of Asia/Pacific Organizations to Augment Operations by 2027, Increasing Worker Efficiency by 50%
In the latest report, IDC FutureScape: Worldwide Manufacturing 2024 Predictions — Asia/Pacific (Excluding Japan) Implications, IDC predicts that by 2027, 60% of Asia/Pacific-based organizations will augment operational roles with automation technology, elevating employee engagement and unlocking a 50% increase in worker efficiency. Asia stands as the dominant region for manufacturing and consumer markets. The manufacturing sector is forecasted to continue to grow despite being dragged down by several external factors including a sluggish global economy, higher monetary interest rates, rising material costs, and cross border trade protectionism…CONTINUE READING
#10 GenAI to Takeover 30% of Traditional Marketing’s Mundane Tasks by 2027
In a recent report, IDC FutureScape: Worldwide Chief Marketing Officer 2024 Predictions — Asia/Pacific (Excluding Japan) Implications, IDC predicts that by 2027, GenAI will assume 30% of traditional marketing’s mundane tasks such as SEO, content and website optimization, customer data analysis, segmentation, lead scoring and hyper-personalization. According to the C-suite Tech survey 2023 APeJ results, 37.8% of CMOs indicated that they have already begun implementing GenAI technologies…CONTINUE READING
