Dominated by Open AI and Meta, GenAI races past $66bn
The generative AI market exceeded the $66-billion mark, with Open AI and Meta AI flagging their dominance with 56% market share. This is according to Stocklytics financial analyst Edith Reads, who comments: "The start of Chat GPT in 2022 was the first plunge into...
Digital transformation shows no signs of slowing down
The global digital transformation market size is anticipated to reach $4,617-trillion by 2030 and it is projected to grow at a CAGR of 27,6% from 2024 to 2030, according to new report by Grand View Research. Digital transformation assists companies in improving their...
Final regulations on ICT sector transformation passed
Final regulations to facilitate transformation and diversity in the ICT sector have been published. They expand on key requirements in the draft regulations published in February 2020. The Independent Communications Authority of South Africa (ICASA) has published...
FNB closes AYO’s transactional banking facility
First National Bank has given AYO Technology Solutions notice to close its transactional banking facility with effect from 3 May 2021. According to a statement from the company, it does not have any lending facilities with FNB. AYO is contesting the move. “Despite the...
Southern Africa’s demographics make raising employment a priority for growth
Southern Africa's middle-income countries will continue to miss out on the demographic opportunity of above-average shares of people of working age in populations unless governments better tackle unemployment, social inequalities, and high HIV rates. Scope Ratings...
Workers hit their WFH stride
One year after the global remote work revolution, the shift to work from home (WFH) and work from anywhere (WFA) is already resulting in profound effects on businesses' digital transformation as well as data security concerns. According to Lenovo's new Future of Work...
Online apps are silver lining for SMBs
One in two small- and medium-sized businesses (SMBs) in South Africa has yet to see revenues recover to pre-pandemic levels, according to the latest edition of Facebook's Global State of Small Business Report, which examines the effects of Covid-19 on SMBs in 27...
Commitment and readiness drive innovation
The pandemic has driven more companies to push innovation to the top of the priority list and change the way they set their companies’ goals and processes. The latest innovation survey from Boston Consulting Group (BCG) shows a 10-percentage-point increase to 75% in...
Procurement offers opportunities for digital solutions
A good number of South African companies find themselves in a fairly precarious position when it comes to procurement because they have yet to properly integrate their basic processes - and their weaknesses have become more apparent during a pandemic that limits...
E-commerce proved to be a lifeline for retailers in 2020
As Covid-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online - leading to an additional $900-billion being spent in retail online around the world in 2020. Put another way: in 2020, e-commerce made up...
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