Digital Banking’s 2X Impact on Revenue! Digital Euro Won't Break the Banks; The World is Going Cashless; SE Asia's Platform Economy Success Story!
Artwork of the day: The Starry Night, Vincent van Gogh, 1889
Van Gogh's night sky is a field of roiling energy. Below the exploding stars, the village is a place of quiet order. Connecting earth and sky is the flamelike cypress, a tree traditionally associated with graveyards and mourning. But death was not ominous for van Gogh. "Looking at the stars always makes me dream," he said, "Why, I ask myself, shouldn't the shining dots of the sky be as accessible as the black dots on the map of France? Just as we take the train to get to Tarascon or Rouen, we take death to reach a star."
The Olive Trees, is rooted in imagination and memory. Leaving behind the Impressionist doctrine of truth to nature in favor of restless feeling and intense color, as in this highly charged picture, van Gogh made his work a touchstone for all subsequent Expressionist painting.
Just like Van Gogh’s classic painting, today’s stories are all a “field of roiling energy” and exploding stars!
From the world going cashless to banks going digital, every story is packed with energy showing how digital is transforming our world.
Banks that master digital are leading the way with 2X the revenue of their digital laggards; if that isn’t explosive, what is?
Turning to the digital euro, the European Central Bank is finally fighting back against banks’ outrageous claims that it will cause them irreparable harm. I’m glad the ECB is going on the offensive!
Cashless is the theme of this humble newsletter, and the BIS shows that people are voting to go cashless worldwide. Cash use is down and isn’t coming back anytime soon.
And in a story that shows the good that going digital can do, the “Tech for Good Institute” shows the positive affect of digital platforms in South East Asia.
Finally, if you want to know which technologies companies are betting on, follow the money as EY has!
Thanks for reading!
What’s Hot in Emerging Technology? Follow the Money!
No day goes by without claims that technology "X, Y, or Z" will change everything, but which technology are companies actually betting on?
EY "follows the money" to look at where companies are putting their money, and the results provide a hint of where our future lies, including a few surprises.
👉TAKEAWAYS
🔹 Scalability, integration and data governance are key factors weighing on emerging tech investments.
🔹 GenAI is an investment priority, but gradual adoption is favored.
🔥🔹 Harnessing 5G and IoT to other technologies is now critical, and deeper vendor collaboration is a must.🔥
🔹Ecosystem strategies are losing their shine, with businesses leaning on suppliers to add more value.
🔹 Speed and security are the top vendor attributes, with improved service portfolios and knowledge exchange also essential.
🔹 The sustainable credentials of new technologies are rising in importance.
👊STRAIGHT TALK👊
Following the tech money leads us to the conclusion that "opposites attract."
The biggest gainers in investment with a 6% YoY rise are 5G and quantum. Two techs that couldn't be more different
5G is the "low-hanging fruit" on the tech stack. The tech is ready to go and its use with IoT is transformational.
Quantum is the fruit you can see on the tree that you can't pick for a few years!
It is 5G's opposite in that it is the technology that seems always to be ready to deliver "next year."
So where do you want to put your money?
Note: if you're wondering why GenAI didn't take the lead its because EY didn't track investment last year. So next year you'll likely see it explode on the scene.
Thoughts?
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