Zoom Phone Now Available In Indian Market

* Multinational organizations and businesses can now have access to Zoom India’s first cloud phone solution licensed by the Department of Telecommunications (DoT) India 

Zoom Video Communications, Inc. (NASDAQ: ZM) today announced the launch of its industry-leading Zoom Phone in India, commencing with the availability of Zoom Phone service with native India phone numbers in the Maharashtra Telecom Circle (Pune). Zoom Phone brings multinational corporations (MNCs) with a domestic presence and homegrown companies unrivaled simplicity and modern functionality to their distributed hybrid workforce, as well as global native coverage in 50 countries and territories.  

The native phone number support will be available starting with the Maharashtra Telecom Circle (Pune), followed by Karnataka (Bangalore), Tamil Nadu (Chennai), Andhra Pradesh (Hyderabad), Mumbai and Delhi telecom circles, covering all the major technology centers in India.  

Zoom India received the Unified License with Access — All/PAN India and Long Distance licenses from the Department of Telecommunications (DoT), Government of India, in April 2023. Thereafter, Zoom India focused on establishing its dedicated domestic infrastructure for Zoom Phone in India and complying with regulatory requirements. This effort enables Zoom to lead the industry with the launch of the first-of-its-kind licensed cloud private branch exchange (PBX) service bundled with local phone numbers for India. 

“Zoom’s cloud PBX service meets the requirements of India’s Unified Telecom license which requires building the dedicated local interconnection infrastructure in accordance with the regulatory requirements. This demonstrates Zoom’s commitment to bringing a trusted service that our customers want,” said Velchamy Sankarlingam, president of product and engineering, Zoom. “Globally, Zoom Phone saw continued expansion in the market, amassing five Zoom Phone customers with 100k+ seats in Q1 FY25,  demonstrating our customers’ trust in Zoom for critical employee and customer experience processes. Our latest offering reaffirms Zoom’s leadership in delivering seamless cloud services on a global scale, enhanced by local investments to help ensure compliance and service excellence in every market, including India.”

With an intuitive and familiar interface, Zoom Phone offers reliable, secure, and flexible voice communication features that seamlessly integrate with Zoom Workplace, the company’s open collaboration platform with Zoom AI Companion. Zoom Phone provides local telephony services and is available as an add-on to Zoom's existing paid customers. With support for inbound and outbound calling through the public switched telephone network (PSTN), enterprise customers can seamlessly replace their existing PBX solution and consolidate their business communication requirements into one platform.

“We are excited to bring Zoom Phone to India, first rolling it out in the Maharashtra Telecom Circle (Pune), empowering multinational enterprises and homegrown companies of all sizes to support dynamic workstyles, improve employee engagement, and elevate the customer experience,” said Sameer Raje, general manager and head of India & SAARC region, Zoom. “The launch of Zoom Phone marks a significant milestone in Zoom’s commitment to the Indian market. This achievement represents our dedication to delivering a reliable collaboration platform that powers limitless human connection and solves real business problems for our customers.”

In addition to its comprehensive features, Zoom Phone is now boosted with AI Companion capabilities to enhance call productivity. Users can request post-call summaries and next steps, allowing them to focus on conversations instead of taking notes. Voicemail prioritization elevates urgent messages, moving them to the top of the queue, while voicemail task extraction delivers tasks from voicemails, helping users understand the next steps without listening to every message. Zoom Phone integrates with leading business applications, contact center partners, and hardware providers, offering an all-in-one collaboration platform for MNCs with a domestic presence and businesses of all sizes. 

“The availability of Zoom Phone is timely, reflecting the trend of strong demand for Unified Communications as a Service solutions integrated with telephony in India. By offering a single platform with enterprise-class features, Zoom Phone addresses the growing modern collaboration needs of local companies and global businesses with presence in India as they look to unify their employee and customer communication channels with a solid foundation in voice,” said Krishna Baidya, senior industry director, Frost & Sullivan. “In addition to streamlining communications with one platform, Zoom Phone stands out with its scalability, security, and user-friendly interface.” 

To learn more about Zoom Phone, visit the Zoom Phone page. 

About Zoom

Zoom’s mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com.

Bringing Gold To The Masses: Moneyview Partners With CaratLane To Offer Digital Gold

Moneyview, a leading financial services platform set to strengthen Moneyview’s comprehensive suite of financial services with its latest service offering, Digital Gold, in partnership with India’s leading omni-channel jewellery brand, CaratLane. This collaboration aims to simplify gold investments by providing a user-friendly platform where consumers can buy, sell, and store gold digitally. Through its partnership with CaratLane, Moneyview brings its customers access to high-quality 24K gold, backed by assured purity and transparency.

Gold has been a cornerstone of savings and investment for Indians. However, traditional gold investments often involve high entry barriers and physical storage challenges. Digital gold, on the other hand, allows fractional ownership of gold while making it accessible to a wider range of customers. With low entry ticket size, digital gold reduces the financial burden associated with traditional gold investments, making it a more attractive savings option for many. Moneyview and CaratLane are set to redefine the digital gold investment landscape in India, offering customers a trusted, hassle-free way to invest in a timeless asset.

Speaking about the partnership, Sushma Abburi, Chief Business Officer of Moneyview, said, "As we evolve in our multi-product journey, our mission is to provide access to different savings and investment options for our customers for them to manage and grow their finances efficiently. Our partnership with CaratLane allows us to offer a trusted and accessible gold investment option that resonates with India's evolving digital consumers. Our partnership has come at the right time considering the festive season in India begins, a period known for increased gold investments. We are excited to provide an effortless digital gold experience, ensuring that our customers have more choices when it comes to securing their financial future. This partnership strengthens our position as a leading platform providing safe and secure investment options in one app."

Atul Sinha, Chief Operating Officer of CaratLane, commented, “The whole point of building the digital gold business is to provide a simpler, cost effective solution to consumers who buy and gift gold for future jewellery purchases.  Today most of such customers buy gold coins. This partnership can give those digital gold buyers an option to redeem that gold for beautiful jewellery. We feel that we can combine our capabilities and provide a wonderful experience and great value to Moneyview's customers.”

This partnership enhances Moneyview’s SuperApp by integrating the flexibility of digital gold investments while reinforcing its commitment to providing Indians with a range of cutting-edge financial solutions under one roof.

About Moneyview:

Moneyview, founded by Puneet Agarwal and Sanjay Aggarwal in 2014 is a leading financial services company headquartered in Bengaluru that focuses on leveraging technology to provide accessible financial services to every Indian with a smartphone. With the support of data and technology, Moneyview currently offers personal loans, personal finance management solutions, and credit trackers and will be launching a suite of other financial products as well. A series-E funded company, Moneyview is backed by investors like Apis partners, Tiger Global, Accel Partners, and Ribbit amongst others. Moneyview strives to empower individuals through inclusive financial solutions that promote financial health and stability.

About CaratLane:

CaratLane - a Tanishq Partnership, India’s first omni-channel jewellery brand with 280+ stores across 120+ cities, was founded in 2008 by Mithun Sacheti and Srinivasa Gopalan with a simple but courageous objective – to make beautiful jewellery accessible, affordable and forever wearable. The driving force behind all of CaratLane's efforts is its purpose of enabling people to express their emotions. Through its unique designs and innovative technological interventions, it aims to be a meaningful part of every celebration in the modern woman’s life.

87% Of Professionals In Bengaluru Seek More Guidance Than Ever To Stay Ahead At Work

* Key focus areas include integrating AI at work and adapting to flexible working

* Videos are the most popular medium for gaining professional knowledge

* Professionals are turning to LinkedIn for the tools and insights to navigate change and stay ahead

Professionals in Bengaluru are realising how quickly work is changing with 87% looking for more guidance and support than ever before, according to new research from LinkedIn, the world’s largest professional network.

As jobs evolve, the biggest opportunity for workers in India is integrating AI into daily tasks (40%). 61% of professionals in Bengaluru are convinced that getting ahead in their career now depends on their comfort with AI. In response, the use of LinkedIn Learning courses focused on AI aptitude has spiked by 117% among non-technical professionals over the past year.

LinkedIn data shows a 123% increase in posts mentioning flexible work* over the last two years, highlighting how this continues to be top of mind for workers as companies evolve their return-to-office (RTO) strategies.

Professionals recognise that experience alone isn’t enough

64% of professionals in the city acknowledge the need for continuous learning with 43% believing that upskilling is essential for career growth. According to the research, 62% seek guidance on the skills needed to navigate workplace change. Many are learning about tech advancements (45%), sector-specific market analysis (38%), social trends (38%) to stay informed and prepared for future opportunities.

Video is the most popular format for professionals to gain knowledge

55% of professionals in Bengaluru find short-form videos easy to engage with, while 51% prefer long-form video courses focused on specific skills, considering them the most helpful. Professionals particularly value videos with anecdotes and learnings (53%), and unscripted podcast conversations (46%), which help them make informed professional decisions and evaluate career prospects.

Searching for solutions to stay ahead

Professionals are turning to LinkedIn for the knowledge and skills to help them adapt to the rapid changes in the workplace. With expert insights, AI-powered coaching, and real-time news, LinkedIn has the tools they need to stay ahead.

Nirajita Banerjee, Career Expert and Head of Editorial, LinkedIn India says, “With AI and hybrid work models changing how we work, staying informed about the latest industry trends is now more important than ever. Today, 8 out of 10 (79%) workers in Bengaluru are already turning to industry leaders and peers for advice—recognising the value of proactively seeking professional knowledge. Embracing this mindset, staying curious, and continuously developing new skills can set you up for success and help you stay ahead of change.”

LinkedIn Career Expert tips for adapting to change and staying ahead:

Stay on top of change: Topics like AI and hybrid work are changing constantly. By staying up-to-date with the latest news and insights from trusted experts, such as LinkedIn Top Voices, you can better understand how these developments impact your daily work and what they might look like in the future.

Adopt a growth mindset: Change is hard and it’s okay to feel nervous, but try to approach the process with an open mind. With a willingness to learn, you can build knowledge in areas that will make navigating change easier. Take AI, for instance. Practising prompt writing or using AI to take meeting notes will make it easier to use these tools in the future. LinkedIn has unlocked a series of Learning Courses such as Building an Adaptability Mindset in the Age of AI for free until 25th November 2024 and is also offering two complimentary professional certificates on Gen AI until the end of 2025. 

Embrace bitesize learning: Find easier ways to acquire new skills and knowledge so continuous learning feels more manageable. Professionals find short-form video the most helpful and engaging when looking for information – and it's rapidly growing on LinkedIn, with video uploads up 34% year-over-year.

LinkedIn data methodology

*Data measured from September 2022 to September 2024 of posts mentioning the keyword “flexible work” on LinkedIn. Incorporates global English-only posts.

**Indicates growth in unique LinkedIn learners during the time period. LinkedIn Learning courses are identified which are tagged and can be used to develop one of LinkedIn's taxonomy of 139 AI skills. Members who consumed these LinkedIn Learning courses are referred to as learners with AI aptitude. Non-technical functions exclude members mapped to one of the following functions: 'Engineering', 'Information Technology', 'Research', 'Education', 'Business Development' based on LinkedIn taxonomy.

Consumer research methodology

This research was conducted by Censuswide, with 2,142 professionals in full-time or part-time employment in India between September 2 to September 11, 2024. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles. Censuswide are members of the British Polling Council. 

About LinkedIn

LinkedIn connects the world’s professionals to make them more productive and successful and transforms the way companies hire, learn, market, and sell. Our vision is to create economic opportunity for every member of the global workforce through the ongoing development of the world’s first Economic Graph. LinkedIn has over 1 billion members and has offices around the globe. www.linkedin.com / mobile.linkedin.com.

IMDb Celebrates Top 250 Indian Movies Of All Time

IMDb (www.imdb.com), the world’s most popular and authoritative source for information on movies, TV shows, and celebrities, has reached 250,000 followers on its India Instagram handle, launched in October 2022. Entertainment fans across the country rely on the IMDb India social media handles to learn who and what is trending, discover new content, and decide what and where to watch. To celebrate this milestone, IMDb has designed a limited edition collectible poster of the Top 250 Highest Rated Indian Movies of all time, which will be presented as a gift to select entertainment industry leaders. Additionally, IMDb India will host a contest on Instagram, giving select fans the opportunity to win this coveted poster. Head to the IMDb India Instagram to learn more about the contest. 

The IMDb Top 250 Highest Rated Indian Movies list is a collection of the highest-rated Indian films, which allows fans to celebrate and discover groundbreaking new films, as well as classics from all decades, genres, and regions. Titles on this dynamic list are determined by ratings from IMDb users who regularly vote on IMDb. 

Notably, the current No. 1 movie on the list is 2023’s critically-acclaimed 12th Fail. Alongside contemporary hits like Maharaja, Kantara, and Laapataa Ladies, the list also features classics such as Jaane Bhi Do Yaaro, Pariyerum Perumal, and Pather Panchali, showcasing the diversity of Indian cinema. Together, the 250 movies on the list have received more than 8.5 million votes on IMDb. 

Here are the top 20 titles from the list, as of September 22, 2024: 

12th Fail

Gol Maal

Nayakan

Maharaja

Apur Sansar

Anbe Sivam

Pariyerum Perumal

3 Idiots

#Home

Manichitrathazhu

Black Friday

Kumbalangi Nights

Rocketry: The Nambi Effect

777 Charlie

Kireedam

C/o Kancharapalem

Taare Zameen Par

Sandesham

Dangal

Laapataa Ladies

It is noteworthy that five titles from 2024, including Maharaja, Maidaan, The Goat Life, Laapataa Ladies, and Manjummel Boys, are on the list. The earliest movie on the list is Satyajit Ray’s classic Pather Panchali, released in 1955. 

With seven titles, director Mani Ratnam has the highest number of movies on the list, followed by Anurag Kashyap with six titles. 

Interestingly, the list also includes six movies along with their sequels: Drishyam (Malayalam) and Drishyam 2 (Malayalam), Drishyam (Hindi) and Drishyam 2 (Hindi), Munna Bhai M.B.B.S. and Lage Raho Munna Bhai , Jigarthanda and Jigarthanda DoubleX , K.G.F: Chapter 1 and K.G.F: Chapter 2 and Baahubali: The Beginning and Baahubali 2: The Conclusion .

Sharing his excitement about 12th Fail topping the list, Vikrant Massey reflected on the most touching scene from the film. He said, “The scene I want to highlight is the champi sequence between Manoj and his mother, which was a pivotal moment in the film when Manoj comes to the realization that his grandmother has passed. What makes it special is the amount of planning and production that goes into shooting even a single shot. In this scene, in the background, there’s a door with magic light—the brief period when day meets night, lasting only 5 to 7 minutes. Vidhu Vinod Chopra sir and DOP Rangarajan Ramabadran designed this master shot months in advance. On set, we actors had to be precise, as we had only those few minutes to capture it. Geeta ji and I chose not to use glycerin for this emotionally taxing scene, opting instead to feel as close to the moment as possible. It was a scene where we were required not to cry, but weep. So, it was a big challenge. It took several rehearsals, but we managed to pull it off.”

To view the Top 250 Highest Rated Indian Movies list, click here. Entertainment fans can follow the IMDb India Instagram handle @IMDb_in to stay up to date on Indian movies, TV shows, and celebrities. 

About IMDb 

IMDb is the world's most popular and authoritative source for information on movies, TV shows, and celebrities. Products and services to help fans discover and decide what to watch and where to watch it include: the IMDb website for desktop and mobile devices; apps for iOS and Android; and, X-Ray on Prime Video. For entertainment industry professionals, IMDb provides IMDbPro and Box Office Mojo. IMDb licenses information from its vast and authoritative database to third-party businesses worldwide; learn more at developer.imdb.com. IMDb is an Amazon company. For more information, visit https://www.imdb.com/press and follow @IMDb_in.

Tanuj Virwani Shares Incident Regarding How He Got Stranded In Georgia Looking For Sneaker Brand Worn By Shah Rukh Khan

* Tanuj Virwani Spoke About This Hilarious Incident On Zee Café’s New Show  ‘Just Talk Sneakers’

Popular actor Tanuj Virwani, who recently welcomed a baby girl, made quite an entertaining appearance on Zee Café’s latest show, Just Talk Sneakers. As the guest on the inaugural episode of this unique chat show, which dives into the world of sneakers and sneakerheads, Tanuj shared a funny story that had everyone in splits.

“I was shooting for a show in Tbilisi, Georgia, when I discovered a brand called Golden Goose. I had heard that the king himself, Shah Rukh Khan wears it but had no idea one could get it in this small town.”  Tanuj recalled.

Excited, he tracked down a store, even though it was quite far from the shoot location. His love for sneakers made him venture out during one of his breaks from the shoot. Determined to get his hands on this brand, he made his way to this non-descript place where apparently the store was. However, midway through the drive, the car ran out of fuel, leaving Tanuj stranded in the middle of nowhere. The driver hurried off to get petrol, while Tanuj stressed firstly about making it to the store and secondly but most importantly returning back on the sets. After a tense wait, the driver emerged with fuel and they finally made it to the store, only to find out that it catered only to women. But as luck would have it, the storekeeper pointed out that he did have pairs for men but only 3 were in stock. 

While Tanuj’s frustration was seeping in, he suddenly decided to just pick the only three pairs available without trying and rush back to his shoot. 

As Tanuj recalled, “Only people close to me know about my deep love for sneakers. I purchase them from every corner of the world and showcase them like a prized trophy. However, this quest for looking for SRKs favourite brand led me to buy shoes of a smaller size. The choice was between returning back empty handed or coming back with a size smaller, so but obviously I chose the latter” he quipped. 

He further added, “ I had to flaunt the babies so wore them the next day itself. I cut my toe nails, and squeezed my foot to get into it. My walk was indeed a sight to behold ..ha ha. But such is my love for sneakers.”

This is just one of the many entertaining stories Tanuj shared on Just Talk Sneakers. Catch the premiere episode on 6th October at 8:30 pm on Zee Café, with new episodes dropping every Sunday. You can also watch it on Zee Café’s YouTube channel.

Sony India Establishes ‘Cinema Is Coming Home’ Concept For BRAVIA Televisions, Stamped By S.S. Rajamouli’s Cinematic Vision

1.    BRAVIA ‘Cinema is Coming Home’ delivers a seamless, immersive movie experience at home

2.    Mr. S.S. Rajamouli champions Sony's 'Cinema is Coming Home' concept for an immersive home viewing experience

3.    BRAVIA FY24 lineup delivers an immersive cinematic experience at home with enhanced picture and sound quality

Sony India proudly announces a significant moment in home entertainment with the introduction of ‘Cinema is Coming Home’ concept. This innovative vision is designed to uplift how consumers enjoy movies at home, merging Sony's cutting-edge technology with a rich cinematic experience. With the endorsement of acclaimed filmmaker Mr. S.S. Rajamouli, this association promises to redefine how Indians watch movies at home.

1.    BRAVIA ‘Cinema is Coming Home’ delivers a seamless, immersive movie experience at home

Building on the decades of operating at the heart of the professional film production equipment development as well as film production and distribution, Sony is in a unique position that allows it to utilise its unparalleled film industry, professional equipment, and consumer electronics experience with its pioneering BRAVIA television and BRAVIA Theatre home audio devices to create this seamless cinematic experience.

The Cinema is Coming Home concept is not just a product launch but a lifestyle transformation for movie lovers, allowing them to recreate cinema like experience in the comfort of their homes. This concept is important for three key reasons, first and foremost is cinematic picture and sound. Thanks to advanced picture and audio technology in BRAVIA televisions, we are now able to express a vividness and a sense of immersion that conventional televisions cannot. Next is Studio Calibration, wherein collaboration with Netflix, Prime Video and Sony Pictures Core, we provide the picture quality as intended by their creators. Lastly, there is the high-quality film experience where BRAVIA incorporates cinema-derived technologies such as IMAX Enhanced and Dolby Vision and Atmos.

Mr. Sunil Nayyar, Managing Director, Sony India said, “With ‘Cinema is Coming Home,’ we are bringing to life the filmmaker’s vision in the most authentic way possible. Our BRAVIA products are designed to deliver the ultimate cinema experience, combining dazzling picture quality with immersive sound that resonates with the soul of movie enthusiasts”.

2.    Mr. S.S. Rajamouli champions Sony's 'Cinema is Coming Home' concept for an immersive home viewing experience

Mr. S.S. Rajamouli, acclaimed filmmaker, advocated Sony's 'Cinema is Coming Home' concept, underscoring its role in providing a genuine viewing experience for film lovers. Partnering with Sony India, Mr. Rajamouli stresses the necessity of experiencing movies in their authentic form, asserting that the BRAVIA televisions enables audiences to fully engage with the magic and emotion of cinema from their own living rooms. With exceptional picture quality and immersive sound, Sony’s groundbreaking products are designed to bring the filmmaker’s vision to life, revolutionizing how viewers connect with their favourite films and transforming every home into a cinematic haven.

Mr. S.S. Rajamouli, acclaimed filmmaker said, “I wholeheartedly endorse Sony’s 'Cinema is Coming Home' concept, as it resonates with my vision as a filmmaker. This concept redefines the home viewing experience, enabling audiences to truly immerse themselves in the authentic essence of cinema. With the new BRAVIA series, viewers can enjoy stunning picture quality and immersive sound, transforming their living rooms into a genuine cinematic haven. It’s not just about watching a film; it’s about experiencing the magic and emotion of storytelling in the comfort of home.”

Talking about the association, Mr. Nayyar added, “I am fully convinced that Mr. S.S. Rajamouli is the best person to effectively communicate Sony’s ‘Cinema is Coming Home’ concept to our customers.”

3.    BRAVIA FY24 lineup delivers an immersive cinematic experience at home with enhanced picture and sound quality

Sony has meticulously crafted the new BRAVIA 9, 8, 7, and 3 series, bringing the magic of the big screen right into living rooms. The flagship BRAVIA 9 series lead the line-up with Backlit MasterDrive and high peak luminance, supreme contrast, and natural colours, delivering a breathtakingly realistic viewing experience. Paired with the newly launched BRAVIA Theatre Bar 8, BRAVIA Theatre Bar 9 and Bravia Theatre Quad, consumers will experience cinematic sound and picture quality in a way that has never been seen before in home entertainment system. To increase customer brand recognition of BRAVIA and to help customers better understand our products, we have introduced marketing names in addition to model names and changed our naming rules.

Sony India is offering exciting promotional offers on BRAVIA televisions and home theatres, making it the perfect time for customers to bring home the luxury of cinema.

·         3 years comprehensive warranty on select BRAVIA televisions

·         Instant cashback of up to Rs.25,000/-

·         One free EMI on select range of BRAVIA televisions

·         Single combo EMI scheme for televisions and soundbar starting from 2,995/-

·         Discount of up to Rs. 64,990/- on unique combo purchase of select BRAVIA televisions along with BRAVIA Theatre soundbar combo

With a strong product lineup, endorsement from Mr. S.S. Rajamouli and exciting consumer promotion offers, Sony is confident to reinforce itself as a leader in the premium television segment in India.

About Sony India Pvt. Ltd.

Sony India Private Limited (Sony India), a private limited company with its ultimate holding company as Sony Group Corporation, Japan, has established itself as a premium brand in various product categories including television, digital imaging, personal audio, home entertainment, gaming, car audio, and professional solutions. The company places a strong emphasis on customer satisfaction and maintains high standards in sales and services. Sony also prioritizes environmental sustainability, aiming to achieve a zero environmental footprint throughout the lifecycle of its products and business activities to contribute to a healthier and enriched life for all of humanity and future generations.

Experian Research: GenAI And Data-Driven Decisioning Are Key Competitive Advantages For Global Business Leaders

* New Experian Report Conducted By Forrester Consulting Surveys Over 1200 Senior Decision-Makers And Leaders Across EMEA And APAC

 * 75% of business leaders agree that their competitive advantage is dependent on making the best use of AI; analysing alternative data sources emerged as the top GenAI use case

* Business leaders seek a more agile approach to analytics, as 76% of respondents believe that it takes them too long to develop and deploy AI/ML models

* Despite challenging economic conditions such as volatile interest rates and the growing urgency to prioritise sustainability initiatives, business leaders are optimistic about the future and investing in digital transformation

Experian’s latest research report investigates different perspectives from senior decision-makers in four key areas: strategic priorities, data and analytics, technology, and risk. Conducted by Forrester Consulting, the research surveyed 1320 Financial Services and Telco C-suite and Director level leaders across ten countries in the EMEA and APAC regions, including India, Australia, Denmark, Germany, Italy, New Zealand, Norway, South Africa, Spain, and the Netherlands. The report reveals how business leaders are utilising Generative AI (GenAI), consolidating datasets to improve decisioning models, and focusing on customer experience to better prepare for a future shaped by challenging economic conditions, technological disruption, and evolving customer expectations.

The race to harness the potential of Generative AI is well underway

Business leaders identified technological disruption as the top 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. Seventy-five percent of surveyed participants believe that competitive advantage in their industry will be dependent on who can make the best use of AI, and three-quarters 75% of the surveyed technology leaders are exploring GenAI use cases with a view to implement them within the next year.

Seventy-five percent of senior leaders agree that GenAI will significantly improve the way they assess risk. Analysing alternative data sources using GenAI emerged as the top use case 78%, highlighting its ability to unlock valuable insights from non-traditional datasets, supporting the creation of better decisioning models and a more holistic picture of the customer.

Technological disruption is a catalyst for improving customer experience

Access to a centralised cloud-based platform for data, analytics and software was identified by survey respondents as a notable factor to improve risk strategy. Nearly half 41% of respondents agree that over the next 12 months, they will see additional credit stress with more missed repayments and delinquencies – with that same percentage 42% tightening their lending criteria in the past year. 50% of risk leaders also indicated that the top risk priority is to improve the ability to identify financially vulnerable customers. Better integration between data sources, model development tools, ops deployment and decisioning software – coupled with harnessing the power of AI – allows lenders to have a more holistic view of borrowers and to fast-track the data-to-insight-to-action process. Ultimately, this leads to better customer relations and fairer lending practices.

Combining datasets into a single cloud-based platform is key to enhancing analytical capability

Data and analytics leaders are prioritising the move of siloed datasets into a single platform that combines data and analytics, as this better enables AI/ML capability and allows them to push models into production in weeks instead of months. In the current state, more than three-quarter 76% of respondents believe that it takes them too long to develop and deploy AI/ML models, with 63% stating that they are updating their models more frequently than ever before to adapt to changing consumer credit behaviour.

Alternative data and advanced analytics are critical to helping businesses make more accurate lending decisions, especially as consumer behaviours evolve and external economic factors continue to make an impact. However, a lack of alternative data sources was identified by respondents as a significant challenge limiting the success of analytics programs and modelling development. In a cloud platform, the advanced capabilities of AI can be used to efficiently process and analyse alternative or complex unstructured datasets, extracting valuable insights that were previously inaccessible. Leveraging this technology enhances the accuracy of predictive models and ultimately enables the creation of more comprehensive insights and credit risk profiles.

“This year’s research highlights the importance of two critical factors – first the race for AI superiority, with business leaders believing it to be critical to gain competitive advantage in their sector. And secondly, the clear focus on investment in analytics tools and infrastructure to better harness the power of data, with many businesses still struggling with the time and effort required to develop and deploy models. The findings suggest businesses are increasingly adopting cloud-based services to better connect data, analytics and software,” says Manish Jain, Country Managing Director, Experian India.

"It is encouraging to see that the majority of senior leaders are optimistic about growth in the year ahead, with plans for greater investment in technology as a result. But we are still facing broader macroeconomic challenges, with customer financial hardship highlighted as a significant concern. AI and ML tools present a considerable opportunity to enhance the precision of credit assessment, for new and existing customers, and thus can help safeguard vulnerable customers with proactive engagement,” says Malin Holmberg, CEO, EMEA & APAC, Experian.

To learn more, you can download the full report here. https://experianacademy.com/forrester-research-report-2024