data analytics | Business Upturn

Amadeus research reveals strong Investment appetite in travel technology for 2024

Tushar Aggarwal — Thu, 14 Mar 2024 10:45:11 +0000

Amadeus has released new global research, titled Travel Technology Investment Trends, indicating a significant appetite for investment in the travel sector in 2024. The study, which covers eight distinct sectors across the end-to-end journey in ten markets, is the first of its kind, providing comprehensive insights into investment intentions and technology priorities for global full-service and low-cost airlines, airports, hotels, travel sellers (online, business, and leisure), corporations, and travel payment departments worldwide.

Key Findings:

91% of travel companies surveyed expect ‘moderate to aggressive’ increases in investment in their organizations in 2024.
Over two-thirds (67%) of senior decision-makers in the sector expect to increase investment specifically in technology this year compared to spend in 2023.
Full-service airlines anticipate an 18% increase in revenue from switching to modern retailing and are optimistic about the transition to ‘Offer & Order’ within the next four years.
60% of airports expect to roll out biometrics across the complete airport experience in the next five years, including check-in, bag-drop, lounge, and boarding.
85% of respondents from the hospitality sector anticipate that personalization could help them deliver more than 5% growth in incremental revenue.

Decius Valmorbida, president for travel at Amadeus, commented on the findings, stating, “The findings match our on-the-ground experience with customers – every area of the travel industry is increasing investment in digital transformation. It’s crucial this spending delivers maximum impact and improves the traveler experience across the travel ecosystem.”

Top Priority Technologies:

Machine learning was perceived by travel industry leaders as the most important technology for their businesses, both in 2024 and in five years’ time.
Data analytics and cloud are also seen as top investment priorities by all sectors.

The research highlights a positive outlook for the travel technology market in 2024, with a strong focus on digital transformation and improving the traveler experience.

Vyopta unveils Aviator: A revolutionary AI Tech Support System

Tushar Aggarwal — Thu, 29 Feb 2024 14:38:50 +0000

Vyopta, a global leader in digital collaboration and experience optimization, has unveiled its latest innovation, an AI-assisted technical support system called ‘Aviator’. This new system is designed to provide customers with real-time support by answering queries and resolving issues, ultimately improving the overall customer experience.

Described as ‘context-aware’, Aviator leverages the Vyopta Community and Vyopta customer knowledge base to offer personalized assistance to users. The platform is integrated within the Vyopta platform and aims to enhance user experiences across the customer journey, including support for onboarding and changes to the collaboration setup.

Alfredo Ramirez, CEO of Vyopta, expressed his excitement about the launch of Aviator, stating that early feedback from customers who have used the system has been overwhelmingly positive. He emphasized that AI initiatives like Aviator not only enhance customer experience and autonomy but also allow Vyopta Customer Services to deliver greater value when leveraging Vyopta for new projects.

One of the key features of Aviator is its ability to provide insights into data analytics, making it particularly useful for users with a limited understanding of the technology. The system can also serve as a smart glossary, offering quick definitions for data terminology to help users grow their proficiency with data insights.

In addition to its customer support capabilities, Aviator has been integrated with the Vyopta platform to assist with troubleshooting and configurations, effectively nullifying wait times for support. The system can also be applied to various use cases, such as simplifying the onboarding process for new customers and expanding support for businesses adding new infrastructure and devices.

Overall, Aviator represents a significant improvement to Vyopta’s support services, offering customers real-time assistance, enhancing user experiences, and increasing organizations’ return on investment.

India’s online gaming industry gears up for growth with regulation

Eesha Chakraborty — Fri, 23 Feb 2024 16:37:59 +0000

India’s online gaming industry which is the world’s second-largest gamer base, finds itself at a crossroads. Despite its immense potential, the lack of a cohesive regulatory framework has hampered its growth, casting a shadow over investments, talent acquisition, and innovation. However, the Modi government has taken the initiative to establish a comprehensive regulatory framework.

The challenges plaguing the online gaming domain are manifold. The implementation of a new tax framework in late 2023 saw the sector’s GST contribution skyrocket by 400%, translating to a staggering Rs. 1,200 crore per month. Furthermore, the industry employs over one lakh individuals directly and indirectly, a number poised to double within the next five years under a supportive regulatory environment.

The absence of clear-cut regulations creates uncertainty for investors, making them hesitant to pour capital into a market riddled with ambiguities. This, in turn, restricts the industry’s growth potential and hampers job creation. Additionally, the lack of a uniform regulatory framework across different states leads to conflicting interpretations of laws, creating operational hurdles for gaming companies. This inconsistency discourages talent from entering the sector, further impeding its progress.

Recognizing the critical role online gaming can play in India’s journey towards becoming a “Viksit Bharat” by 2047, the Modi government has taken decisive steps towards establishing a regulatory framework. The formation of an “informal Group of Ministers” (GoM) encompassing key ministries like MeitY, MIB, MoF, MHA, and PMO signifies the government’s commitment to a comprehensive and inclusive approach. Minister of State for Electronics and Information Technology Rajeev Chandrasekhar’s recent statements emphasizing an open, transparent, and consultative approach further underscore this commitment.

The potential benefits of regulation are manifold. Firstly, it can unlock a significant revenue stream for the government, particularly through the taxation of skill-based real-money games, a major driver of industry income. Secondly, it can create a plethora of job opportunities, with estimates suggesting a potential rise to 250,000 within the next few years. Thirdly, it can act as a catalyst for the growth of ancillary industries like cybersecurity, customer service, digital payments, and marketing, creating a ripple effect throughout the economy.

Furthermore, regulation can foster innovation in key technologies like AI, blockchain, and data analytics, propelling the industry to the forefront of technological advancements. This, in turn, can attract foreign investment and global gaming companies, further accelerating the sector’s growth.

Recent indications suggest a potential shift away from the Skill Regulation Bill (SRB) model, paving the way for a more independent regulatory body akin to the Telecom Regulatory Authority of India (TRAI). This centralized model can ensure fair competition, protect consumer interests, and maintain high-quality standards within the industry.

Scotland’s seer platform to drive innovation in Healthcare

Tushar Aggarwal — Thu, 22 Feb 2024 12:54:00 +0000

Scotland is set to enhance collaboration and innovation in its health and social care system through the expansion of Seer, a world-leading data and analytics platform. Seer has been instrumental in providing staff with easy access to data for decision-making in patient care and resource planning, particularly in areas such as cancer intelligence, blood stock monitoring, and the flu vaccination programme.

The upcoming Seer 2 platform, leveraging cloud technology, will offer the health and social care workforce an advanced version, providing increased flexibility and access to new tools and technologies. Already, these features have been used to develop new dashboards for capacity management during winter.

Health Secretary Neil Gray highlighted these advancements at the Digital Health and Care Scotland Conference 2024. He also announced the Scottish Government’s plans to update Scotland’s first Data Strategy in spring, along with an updated Delivery Plan for the Digital Health and Care Strategy to be published in April.

Mr. Gray emphasized the importance of digital and technology-driven services in enhancing health and social care. He noted that leveraging data and digital technology is critical to driving improvements in healthcare and is key to service reform plans. The Seer 2 platform, described as world-leading, is facilitating collaboration and innovation across government and the NHS by providing near real-time intelligence for decision-making, generating new insights, and improving outcomes.

In addition to the Seer platform, Mr. Gray visited Boroughloch Medical Practice, known for embracing technology. There, Dr. Abhayaratna demonstrated an online consultation and workflow system that aids GP practices in managing patient caseloads through digital triage and operational change.

Dr. Abhayaratna highlighted the practice’s success in digital access, with around 80% of patients making online requests since October 2019. This system has optimized the practice’s multi-disciplinary team’s skills, ensuring each patient receives the best care. Patient feedback has been positive, with 75% reporting that the digital service is better than previous arrangements.

These developments showcase Scotland’s commitment to leveraging technology and data to address challenges in healthcare, such as funding pressures, inequalities, and workforce issues. By embracing digital innovations, Scotland aims to enhance patient care, streamline workflows, and improve overall efficiency in the health and social care sector.