Businesses need to upskill the workforce by adopting futuristic technologies

Uday Choudhari, Senior Director-Technology, Synechron

New products and solutions 
Technologies like Natural Language Processing (NLP), Natural Language Generation (NLG), Robotic Process Automation (RPA), Data Science, Machine Learning / Cognitive Learning, Biometrics, Virtual Reality, etc. keep us at Synechron on the technological edge. We recently introduced the Synechron’s PayTech accelerator that aims at helping banks seize new opportunities across the payments landscape and solve evolving technology challenges. It addresses key imperatives within retail and wholesale payment ecosystems with the help of five solutions - Buy Now, Pay Later (BNPL), ISO 20022 Simulator, Black Swan Fraud Prevention, Liquify Treasurers Portal, and Payments Data Platform.

Impact of disruptive technologies in the future of work
Automation, cloud adoption, and use of AI/ML, not only in product innovation but also in business administration and human resources management is inevitable, especially when the world is moving towards hybrid work model. Adopting futuristic technologies would require businesses to upskill the workforce to understand, run, and manage applications in the upgraded tech environment. This way hours spent on repetitious jobs are reduced and can be more resourceful for productive purposes.

Adopting working arrangements to flexibly meet business needs
The Fourth Industrial Revolution or Industry 4.0 has a far-reaching impact and is disrupting almost every industry. Rapid adoption of technological innovations and the increasing receptiveness have widened the scope and scale of growth across industries. Additionally, implementation of cloud computing for making remote work possible and comfortable have allowed companies to reduce dependence on physical infrastructure. More companies are reliant on robotics and automation technologies to make their virtual work environment secure and functional. Staying relevant is the key to sustenance in this changing ecosystem, and a flexible mindset will help any industry and technology to reach its zenith.