LONDON, Sept. 19, 2024 /PRNewswire/ -- Experian's latest research, conducted by Forrester Consulting, delves into the strategies of senior decision-makers in the financial services and telco sectors across EMEA and APAC. The survey of over 1200 C-suite and Director level leaders in Australia, Denmark, Germany, India, Italy, New Zealand, Norway, South Africa, Spain, and the Netherlands reveals how businesses are leveraging Generative AI (Gen AI), consolidating datasets to improve decisioning models, and prioritizing customer experience to navigate challenging economic conditions and technological disruption.
The race to harness GenAI is well underway
Business leaders identified technological disruption as the third largest external factor impacting their business in the coming two years, putting emphasis on the race toward AI supremacy to improve business efficiencies and reduce costs. Sixty-eight percent of participants believe that competitive advantage in their industry will be dependent on who can make the best use of AI, and nearly three-quarters (73%) of the technology leaders are exploring GenAI use cases with a view to implement them within the next year.
Technological disruption is a catalyst for improving customer experience
Survey respondents highlighted a centralised cloud-based platform as a notable factor to improve risk strategy. Nearly half (47%) foresee additional credit stress and tightened lending criteria. Many risk leaders (42%) also indicated that the top risk priority is to improve the ability to identify financially vulnerable customers. Integrating data sources, leveraging AI and streamlining data-to-insight-to-action processes to enable lenders to achieve a holistic borrower view, improve customer relations and foster lending practices.
Combining datasets into a single cloud-based platform is key to enhancing analytical capability
Data and analytics leaders are prioritising a unified platform for siloed datasets to accelerate AI/ML model development and deployment. More than half (55%) of respondents believe current development times are too long, with 48% stating that they are updating their models more frequently due to shifting consumer behaviour.
"This year's research highlights the growing importance of AI and data analytics for businesses seeking a competitive edge," says Malin Holmberg, CEO, EMEA & APAC, Experian. "While we are still facing broader macroeconomic challenges, the majority of leaders remain optimistic about future growth and increased technology investment."
Download the full report here.
About Experian
Experian is a global data and technology company, powering opportunities for people and businesses around the world. Learn more at experianplc.com.
Contact: Yolanda Zondo, Yolanda.zondo@experian.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders
Phygital exhibition of 3D, digitally generated art and garment designs drew 422 attendees, highlighting how 3D-powered virtual experiences are merging the gaming and fashion worlds.
LONDON, Sept. 19, 2024 /PRNewswire/ -- London Fashion Week - Portal:M, the Taiwan-based fashion technology platform, made a significant impact, transforming Protein Studios in Shoreditch into a grocery store-themed wonderland. The virtual fashion exhibition reconceptualized fashion technology, blending the digital and physical worlds to create a truly immersive experience.
Supported by Taiwan's leading garment manufacturer Makalot and in collaboration with global technology leader ViewSonic, Portal:M redefined the traditional runway experience. Guests entered a digitally interactive space to engage with fashion elements as if shopping in a grocery store of virtual possibilities.
Portal:M's platform democratises fashion design, empowering anyone to become a creator. Like Minecraft, it offers digital tools to bring creative visions to life. Whether it's selecting digitised YKK® zippers from the YKK Trim Creator or choosing from a wide array of fabrics, users can "shop" for design elements within the platform, seamlessly integrating them into their own creations and making high-level fashion design accessible to all. The showcase underscored this capability, with participants invited to curate their own creations using Portal:M's digital tools.
"Gamifying" Fashion for a Sustainable Future
A report by GEEIQ revealed that by mid-2024, over 700 brands had entered the virtual space, launching 1,200 activations across various gaming platforms, representing a 58% increase from the previous year.
"Immersive virtual experiences are the future," said Alan Liu, Co-Founder of Portal:M. "Beyond consumers, designers are collaborating with creators of gaming worlds to explore new ways of expressing creativity."
Portal:M leveraged the event's grocery store theme to showcase its role as a comprehensive platform for brands to integrate 3D content and experiences. Liu explained, "The enthusiasm for virtual experiences underscores the urgency of our work. Beyond enhancing customer engagement and protecting privacy, our solutions help brands become more sustainable."
The exhibition featured works from renowned artists and emerging talents, including Naya Rea, Ray Chu, PROJECTbyH., AutoNarrative by Eve Lin, and graduates from Shih Chien University. These artworks were brought to life using ViewSonic's ViewBoard interactive screens and high-brightness projectors, showcasing the platform's potential to expand creative possibilities in the fashion industry.
To enhance the immersive experience, the event included a curated auditory component by Cloudy Ku, a Taiwan-born DJ known for her unique blend of techno, trance, and experimental sounds.
Portal:M: A One-Stop Shop for the Digital Fashion Revolution
Portal:M empowers designers with the tools to seamlessly integrate digital innovation into their creative processes. By breaking down barriers and fostering collaboration, Portal:M is leading the way in fashion technology.
Highlights of Portal:M's services:
Portal:M is dedicated to harnessing digital technology to revolutionise fashion and connect designers with consumers. The platform will continue to explore the digital realm, infusing fashion with creativity and innovation.
For further information about the event or collaboration, please email Dianne Chen, diannechen@portalm.io
Instagram: https://www.instagram.com/portalm.io/
Website: https://portalm.io/#home
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Portal:M Empowers Everyone to Become a Creator: A Groundbreaking Digital Fashion Platform Debuts at London Fashion Week SS25
