Service providers play a pivotal role in data-to-insight transformation, ISG Provider Lens™ reports say
Enterprises in Europe are adopting cognitive AI principles to revolutionize operations and planning and foster a culture of AI-enabled decision-making, say new research reports published by Information Services Group (ISG), a leading global technology research and advisory firm.
“Service providers play a crucial role in helping their clients leverage applied AI solutions to transform data into actionable insights in real time, driving strategic growth and ROI.”
The 2024 ISG Provider Lens Advanced Analytics and AI Services reports for Europe say industry-specific challenges, supply chain disruptions, macroeconomic uncertainties and stringent sustainability practices are driving enterprises to utilize deep forecasting and economic modeling techniques to proactively forecast, assess and mitigate risks. More organizations are addressing these struggles with an AI-first approach centered around data as a strategic asset.
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“Enterprises are increasingly relying on data in decision-making, augmenting the power of cognitive AI and cloud computing,” said Diwahar Jawahar, principal consultant, Cognitive & Analytics advisory practice, EMEA, ISG Research. “By treating data as a strategic asset, they can reimagine their operations, strategy, innovation and CX and provide new avenues of growth.”
The analytics services market plays a pivotal role in modern business strategy, empowering enterprises with data-driven decision-making, operational efficiency and competitive advantages, the report says. The relevance of analytics and AI services continued to grow throughout the past year, fueled by the steady advancement of technologies such as generative AI (GenAI).
Providers in this space are innovating frameworks, accelerators, simulations and customizable AI solutions for automating the generation of AI insights, ISG Research says. These providers emphasize intensive development of machine learning models, making AI more integrated and efficient within business workflows.
Enterprises are now increasingly aware of risks related to AI ethics, compliance and governance, ISG says. An emerging group of specialist providers, dedicated to delivering highly compliant, responsible AI solutions, are emphasizing ML model governance, swiftly scaling customer engagements from proofs-of-concept to production in minimal time.
As a result, ISG researchers note the emergence of integrated knowledge graphs with GenAI and analytics tools, and an increase in the development of verticalized AI solutions, which together combine to solve unique operational challenges for enterprise customers.
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“Prudent governance is required to drive AI development in modern data ecosystems and revolutionize the systems and platforms used for business decision-making,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Service providers play a crucial role in helping their clients leverage applied AI solutions to transform data into actionable insights in real time, driving strategic growth and ROI.”
The reports also explore other trends, such as increased demand for customized, tailored user experiences. One way to deliver these experiences, the reports note, is with recommendation engines that suggest products, services and content to customers.
For 2024, ISG Provider Lens™ has published two Advanced Analytics and AI Services reports for Europe: one examining Large and Midsize Providers, and a second that exclusively assesses Specialist Providers. The Large and Midsize Providers report evaluates the capabilities of 53 providers across six quadrants: Data Science and AI Services – Large, Data Science and AI Services – Midsize, Data Modernization Services – Large, Data Modernization Services – Midsize, Advanced BI and Reporting Modernization Services – Large and Advanced BI and Reporting Modernization Services – Midsize.
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The Large and Midsize report names Accenture, Capgemini, Cognizant, Deloitte, EXL, GFT, HARMAN, HCLTech, Infosys, Merkle, Mphasis, Orange Business, Persistent Systems, Reply, TCS, T-Systems, Virtusa and Wipro as Leaders in three quadrants each. Hexaware is named a Leader in two quadrants.
In addition, Stefanini and Tech Mahindra are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants each.
The 2024 ISG Provider Lens™ Advanced Analytics and AI Services – Specialist Providers report evaluates the capabilities of 25 specialist providers across three quadrants: Data Science and AI Services – Specialist, Data Modernization Services – Specialist and Advanced BI and Reporting Modernization Services – Specialist.
The Specialist report names Alexander Thamm, Fractal Analytics, Lingaro, MathCo, Quantiphi, SDG Group, Tiger Analytics, Tredence, Version 1 and WNS Analytics as Leaders in all three quadrants. In addition, Ancoris is named a Rising Star in all three quadrants.
In the area of customer experience, DXC Technology is named the global ISG CX Star Performer for 2024 among advanced analytics and AI service providers. DXC Technology earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.
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Source – businesswire
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