Human exploration will never stop. We should set our sights beyond what we see now and look to the future, shifting from innovation to invention. We’re seeing rapid changes to life, work, and society as every industry adopts emerging technologies like 5G, cloud, big data, IoT, and artificial intelligence.
We are building a world in which everything is connected, sensing, and intelligent. The fusion of ICT’s nascent strands is creating new business models, new capabilities, and new possibilities for how we approach life and business. Intelligent devices and systems are making all kind of service paradigms possible that were once the realms of sci-fi, from robots in the home and immersive VR to zero search, frictionless communications, and more.
Since our inaugural GIV report in 2018, we’ve been seeing the deeper adoption of ICT by enterprises and industries, opening new doors to innovation, inclusion, and sustainability. 2019’s [email protected] presents Huawei’s insights into the opportunities that new technologies will create across 17 industries, including transport, retail, finance, manufacturing, and aerospace.
GIV2025 sets out 10 trends and key predictions for 2025. These are as follows:
1. Living with Bots: Advances in material science, perceptual AI, and network technologies are powering the uptake of robotics in a variety of home and personal scenarios. GIV predicts a global penetration rate of home robots of at least 14%.
2. Super Sight: The convergence of 5G, VR/AR, machine learning, and other emerging technologies will let us see beyond distance, distortion, surface, and history, opening up new vistas for people, business, and culture. GIV predicts that VR/AR will have a user base of 337 million.
3. Zero Search: As data-driven and sensor-equipped appliances and devices begin anticipating our needs, information will find us. Future searches will be button-free, personal social networks will be created effortlessly, and industry will benefit from “zero-fault maintenance”. GIV predicts that 90% of smart device owners will use intelligent personal assistants.
4. Tailored Streets: Intelligent transport systems will connect people, vehicles, and infrastructure, creating zero congestion, rapid emergency response, and other functions that will make life smoother. GIV predicts that 15% of vehicles will have Cellular Vehicle-to-Everything technology.
5. Working with Bots: Already transforming many industries, smart automation will take on more hazardous, repetitive, and high-precision tasks – a boon for safety and productivity. GIV predicts that there will be 103 robots in industry for every 10,000 employees.
6. Augmented Creativity: Cloud AI will cut the cost and barrier of entry to scientific experimentation, innovation, and art, opening up a goldmine of creative potential that’s available to all. GIV predicts that 97% of large companies will have deployed AI.
7. Frictionless Communication: AI and big data analytics will create seamless communication between companies and customers and break down language barriers. Accuracy, understanding, and trust will underpin tomorrow’s communications. GIV predicts that enterprises will fully use of 86% of the data that they produce.
8. Symbiotic Economy: Companies across the planet are adopting digital tech and smart applications on unified access platforms – that means greater collaboration, resource-sharing, stronger global ecosystems, and higher productivity. GIV predicts that cloud technology penetration among enterprises will be 100%.
9. 5G’s rapid rollout: 5G is here and it’s landing far faster than any previous wireless generation – the potential for individuals, businesses, and society is enormous. GIV predicts that 58% of the world’s population will have access to 5G.
10. Global Digital Governance: Advancements in digital tech must be balanced by shared data standards and principles for data use. GIV predicts that the annual volume of global data will reach 180 ZB (1 ZB = 1 trillion GB).
By combining Huawei’s own data with the findings of international organizations, market researchers, and industry leaders, it is our aim to demonstrate the value of ICT in business and society.
Led by artificial intelligence, 5G, and cloud computing, the Fourth Industrial Revolution is accelerating the arrival of the intelligent world. Huawei is committed to building digital platforms, user experiences, and intelligent technology that power ubiquitous connectivity in every scenario. It’s our mission to offer every person, home, and organization an intelligent future and the benefits of entirely new opportunities for growth.
We hope the report inspires you to touch an intelligent future. So, please visit our minisite and download the full Huawei Global Industry Vision [email protected]
Related
{
"lightbox_close": "Close",
"lightbox_next": "Next",
"lightbox_previous": "Previous",
"lightbox_error": "The requested content cannot be loaded. Please try again later.",
"lightbox_start_slideshow": "Start slideshow",
"lightbox_stop_slideshow": "Stop slideshow",
"lightbox_full_screen": "Full screen",
"lightbox_thumbnails": "Thumbnails",
"lightbox_download": "Download",
"lightbox_share": "Share",
"lightbox_zoom": "Zoom",
"lightbox_new_window": "New window",
"lightbox_toggle_sidebar": "Toggle sidebar"
}
This article is derived from a speech given at Huawei’s 2020 Global FSI Summit, a global ICT event hosted by Huawei that is focused on partnerships and trends in FSI. It was founded in 2013 and features thought leaders, consultants, and experts from the industry.
2020 is set to be a tough year. There have been unprecedented disruptions to all industries with workforces largely restricted to working from home. Yet, many companies in the Financial Services Industry (FSI) have still successfully managed to provide essential services to customers. Indeed, we have seen that a substantial number of financial institutions have made big strides in their use of digital technologies and digital functionalities, to better cope with the challenges of the pandemic. Many industry leaders have already shared their insights for accelerating industry digital transformation as well as improving industrial operations.
I would like to give you a brief introduction to the progress Huawei has already made in the finance industry. As things stand today, we have already worked with more than 1600 financial institutions, including 45 of the world’s top 100 banks, spanning across more than 60 countries.
2019 was a tough year for Huawei, but we managed to overcome the challenges, gaining the trust of our customers in the process. In 2019 alone, we added over 300 new global FSI customers, who chose Huawei as a trusted transformation partner, recognizing the competitive positioning of our products and the value they bring, regardless of external challenges. I would like to thank every Huawei customer for their interest and support.
Indeed, in 2019, we built or strengthened partnerships with leading banks, and insurers as well as securities houses in France, Italy, Singapore, Brazil, Turkey, India, and beyond. We were able to enhance the reliability and resilience of legacy IT systems and boost digital capabilities for customers. These typical success stories reflect the real-world capabilities and real-world value Huawei products provide. We have become an integral partner for global FSI customers for their digital transformation needs.
We are committed to building a robust ecosystem with our global partners, providing them with innovative solutions and helping customers accelerate digital transformation. With the increasing demand for cashless and smart finance, Huawei works closely with leading global partners to help banks improve digital capabilities, ensuring that more people have access to financial services.
The construction of this global ecosystem is one of our core focuses, and we’ve been working extremely hard on it. Our goal is to build a comprehensive ecosystem and provide more services globally through Huawei’s rapidly growing cloud services. For example, in the near future, an African bank will be able to use a Chinese or European AI partner’s outbound call service over cloud .
In China, banks are accelerating their digital transformation. Here, Huawei has played an active role and has become the largest digital transformation partner for China’s financial industry.
For instance, Huawei has helped leading Chinese banks complete the migration of massive data from traditional data warehouses to Huawei GaussDB platforms. This allows for the improved data processing and analytics capabilities specifically required in the mobile Internet era, further driving business innovation.
We are also working with leading banks to migrate their core credit card systems from a mainframe to an open distributed platform, with over 100 million customers involved. In addition to offering Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), Huawei also takes part in the construction of cloud platforms for numerous large-scale banks.
In China, Internet tech giants possess unique competitive advantages as they explore disruptive FinTech applications, making competition from them in the financial sector extremely fierce. The competition and cooperation between these Internet giants and the Chinese financial industry has therefore been both unique and extremely interesting.
Of course, this year, this is all happening against the backdrop of COVID-19, with financial institutions around the world continuing to strive to ensure service continuity for customers. Huawei is doing the same.
We are customer-centric and committed to supporting our customers in Business Continuity Management (BCM), making the most of our global capabilities. Huawei has the global resources to efficiently respond to customer needs, providing urgent deliveries and enhanced digital support, for example, as well as ensuring the normal operation of data centers.
With the majority of technical experts working from home during the pandemic, the use of remote Proof of Concept (PoC) tools has emerged. To date, we have successfully completed over 500 remote PoCs with global customers. Our innovative set-up allows customers to implement all configurations and complete load testing and functional testing, all without the need to leave their homes.
Huawei and Chinese financial institutions have also accumulated vast experience in adapting to remote offices and the closure of a significant number of physical branches. Over the past three months, we have hosted online exchanges with over 50 financial clients from our headquarters in Shenzhen and offices overseas. This has allowed us to share our experiences and exchange views on the global financial picture.
Looking ahead to the future, uncertainty is the biggest problem as we look to enter the post-pandemic era. According to the International Monetary Fund (IMF) World Economic Outlook, the global economy will shrink sharply, by at least 3% in 2020, a larger contraction than the 2008–2009 financial crisis. Work, life, and business have all been profoundly affected, ushering in a “new normal.” We need to consider what this mean for financial institutions. How can we deal with such uncertainties?
Over the short term, global economic contraction will affect banks’ loan-loss reserves. Even with central bank intervention, the impact is likely to remain severe.
Twitter, a huge global company has announced that its employees can choose to work permanently from home if they prefer. However, banking has not made such a dramatic change. Overall, this is unsurprising in a sector traditionally viewed as conservative.
However, on the contrary, banking’s rapid embrace of digital strategies during these times belies that image. So, in wealth management for example, banks can and have offered consulting and transaction services digitally, allowing customers more time to look after their investments. As a result, wealth management has boomed and there has been a dramatic change in client behavior.
To underline the main point: we have found that digital technology is a critical way to address the impact of the pandemic. This digital space is where leading global financial institutions work their best amid the process of digital transformation. China Merchants Bank (CMB), for instance, has continued to efficiently issue large loans to corporate customers through a zero-contact process. Meanwhile, China Life held an online training live broadcast for over one million insurance agents. It is therefore abundantly clear: financial institutions with high-performing digital capabilities will thrive in the future.
As I have just said, we have had numerous exchanges online with numerous financial executives across the world. They all believe that remote work capabilities and business agility are particularly critical in the new normal. And we can surely all agree that financial institutions must move quickly into this digital world. It is further predicted that e-commerce, digital payments, and super apps will gain further traction and become major trends. Rapid changes must come with renewed models for Business Continuity Management (BCM) covering mobile offices, digital transformation, risk management, internal control processes, and more.
Simultaneously, digital transformation will be more effective with the well-timed introduction of new technologies including 5G and the Internet of Things (IoT), to accelerate the process. Early adopters will be able to convert today’s challenges into competitive advantages in the future and take a comfortable lead in the digital world.
The digital world will be based on mobility, with connectivity becoming exceedingly important: customers will need and demand full access to financial and non-financial services anytime, anywhere. 5G is not just an innovative connection point but also one that drives business innovations, to enable all-round customer experiences. In the future, powerful real-time connections must be ubiquitous, and 5G, IoT, and flexible networks are key technologies in delivering this.
We believe that mobile capacity will be the core capability of future banks. It will not only serve as a point of contact with clients, but also as an interface for internal operations and collaborations with partners. The mobile apps of banks will become a key operational platform. To support such a mobile-centric model requires new Information Technology (IT) architecture and key capabilities in 5G, Artificial Intelligence (AI), and cloud. As a leader in these fields, Huawei is uniquely positioned to support the cloud transformation of financial institutions as well as build new connectivity capabilities, helping financial institutions improve agility and innovation
Mobile apps will be the main arena for future banks, with digital customer acquisition dictating app traffic. Banking apps will become the core platform for digital operations, and will turn into super apps by combining multiple services for all scenarios, creating an ecosystem.
Banks will therefore need to transform into mobile-centric IT architecture, including building mobile internet based on 5G technology, restructuring flexible cloud-based and distributed IT architecture, building AI-powered data platforms, and building agile micro-service architecture, open Application Programming Interfaces (APIs) , and more.
Over the past ten years, we have gained a wealth of experience in the global financial industry. In particular, in the Chinese market, we have invaluable firsthand experience working with top banks undergoing digital transformation at the same time as they are competing with tech giants exploring FinTech disruptions to the industry. The rapid development in the mobile app era of these banks has also provided a great deal of insight. We are more than happy to share our experience and ecosystems with our customers and partners around the world, to enter the mobile digital world together.
{
"lightbox_close": "Close",
"lightbox_next": "Next",
"lightbox_previous": "Previous",
"lightbox_error": "The requested content cannot be loaded. Please try again later.",
"lightbox_start_slideshow": "Start slideshow",
"lightbox_stop_slideshow": "Stop slideshow",
"lightbox_full_screen": "Full screen",
"lightbox_thumbnails": "Thumbnails",
"lightbox_download": "Download",
"lightbox_share": "Share",
"lightbox_zoom": "Zoom",
"lightbox_new_window": "New window",
"lightbox_toggle_sidebar": "Toggle sidebar"
}
This article is derived from a speech given at Huawei’s 2020 Global FSI Summit, a global ICT event hosted by Huawei that is focused on partnerships and trends in FSI. It was founded in 2013 and features thought leaders, consultants, and experts from the industry.
2020 is set to be a tough year. There have been unprecedented disruptions to all industries with workforces largely restricted to working from home. Yet, many companies in the Financial Services Industry (FSI) have still successfully managed to provide essential services to customers. Indeed, we have seen that a substantial number of financial institutions have made big strides in their use of digital technologies and digital functionalities, to better cope with the challenges of the pandemic. Many industry leaders have already shared their insights for accelerating industry digital transformation as well as improving industrial operations.
I would like to give you a brief introduction to the progress Huawei has already made in the finance industry. As things stand today, we have already worked with more than 1600 financial institutions, including 45 of the world’s top 100 banks, spanning across more than 60 countries.
2019 was a tough year for Huawei, but we managed to overcome the challenges, gaining the trust of our customers in the process. In 2019 alone, we added over 300 new global FSI customers, who chose Huawei as a trusted transformation partner, recognizing the competitive positioning of our products and the value they bring, regardless of external challenges. I would like to thank every Huawei customer for their interest and support.
Indeed, in 2019, we built or strengthened partnerships with leading banks, and insurers as well as securities houses in France, Italy, Singapore, Brazil, Turkey, India, and beyond. We were able to enhance the reliability and resilience of legacy IT systems and boost digital capabilities for customers. These typical success stories reflect the real-world capabilities and real-world value Huawei products provide. We have become an integral partner for global FSI customers for their digital transformation needs.
We are committed to building a robust ecosystem with our global partners, providing them with innovative solutions and helping customers accelerate digital transformation. With the increasing demand for cashless and smart finance, Huawei works closely with leading global partners to help banks improve digital capabilities, ensuring that more people have access to financial services.
The construction of this global ecosystem is one of our core focuses, and we’ve been working extremely hard on it. Our goal is to build a comprehensive ecosystem and provide more services globally through Huawei’s rapidly growing cloud services. For example, in the near future, an African bank will be able to use a Chinese or European AI partner’s outbound call service over cloud .
In China, banks are accelerating their digital transformation. Here, Huawei has played an active role and has become the largest digital transformation partner for China’s financial industry.
For instance, Huawei has helped leading Chinese banks complete the migration of massive data from traditional data warehouses to Huawei GaussDB platforms. This allows for the improved data processing and analytics capabilities specifically required in the mobile Internet era, further driving business innovation.
We are also working with leading banks to migrate their core credit card systems from a mainframe to an open distributed platform, with over 100 million customers involved. In addition to offering Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), Huawei also takes part in the construction of cloud platforms for numerous large-scale banks.
In China, Internet tech giants possess unique competitive advantages as they explore disruptive FinTech applications, making competition from them in the financial sector extremely fierce. The competition and cooperation between these Internet giants and the Chinese financial industry has therefore been both unique and extremely interesting.
Of course, this year, this is all happening against the backdrop of COVID-19, with financial institutions around the world continuing to strive to ensure service continuity for customers. Huawei is doing the same.
We are customer-centric and committed to supporting our customers in Business Continuity Management (BCM), making the most of our global capabilities. Huawei has the global resources to efficiently respond to customer needs, providing urgent deliveries and enhanced digital support, for example, as well as ensuring the normal operation of data centers.
With the majority of technical experts working from home during the pandemic, the use of remote Proof of Concept (PoC) tools has emerged. To date, we have successfully completed over 500 remote PoCs with global customers. Our innovative set-up allows customers to implement all configurations and complete load testing and functional testing, all without the need to leave their homes.
Huawei and Chinese financial institutions have also accumulated vast experience in adapting to remote offices and the closure of a significant number of physical branches. Over the past three months, we have hosted online exchanges with over 50 financial clients from our headquarters in Shenzhen and offices overseas. This has allowed us to share our experiences and exchange views on the global financial picture.
Looking ahead to the future, uncertainty is the biggest problem as we look to enter the post-pandemic era. According to the International Monetary Fund (IMF) World Economic Outlook, the global economy will shrink sharply, by at least 3% in 2020, a larger contraction than the 2008–2009 financial crisis. Work, life, and business have all been profoundly affected, ushering in a “new normal.” We need to consider what this mean for financial institutions. How can we deal with such uncertainties?
Over the short term, global economic contraction will affect banks’ loan-loss reserves. Even with central bank intervention, the impact is likely to remain severe.
Twitter, a huge global company has announced that its employees can choose to work permanently from home if they prefer. However, banking has not made such a dramatic change. Overall, this is unsurprising in a sector traditionally viewed as conservative.
However, on the contrary, banking’s rapid embrace of digital strategies during these times belies that image. So, in wealth management for example, banks can and have offered consulting and transaction services digitally, allowing customers more time to look after their investments. As a result, wealth management has boomed and there has been a dramatic change in client behavior.
To underline the main point: we have found that digital technology is a critical way to address the impact of the pandemic. This digital space is where leading global financial institutions work their best amid the process of digital transformation. China Merchants Bank (CMB), for instance, has continued to efficiently issue large loans to corporate customers through a zero-contact process. Meanwhile, China Life held an online training live broadcast for over one million insurance agents. It is therefore abundantly clear: financial institutions with high-performing digital capabilities will thrive in the future.
As I have just said, we have had numerous exchanges online with numerous financial executives across the world. They all believe that remote work capabilities and business agility are particularly critical in the new normal. And we can surely all agree that financial institutions must move quickly into this digital world. It is further predicted that e-commerce, digital payments, and super apps will gain further traction and become major trends. Rapid changes must come with renewed models for Business Continuity Management (BCM) covering mobile offices, digital transformation, risk management, internal control processes, and more.
Simultaneously, digital transformation will be more effective with the well-timed introduction of new technologies including 5G and the Internet of Things (IoT), to accelerate the process. Early adopters will be able to convert today’s challenges into competitive advantages in the future and take a comfortable lead in the digital world.
The digital world will be based on mobility, with connectivity becoming exceedingly important: customers will need and demand full access to financial and non-financial services anytime, anywhere. 5G is not just an innovative connection point but also one that drives business innovations, to enable all-round customer experiences. In the future, powerful real-time connections must be ubiquitous, and 5G, IoT, and flexible networks are key technologies in delivering this.
We believe that mobile capacity will be the core capability of future banks. It will not only serve as a point of contact with clients, but also as an interface for internal operations and collaborations with partners. The mobile apps of banks will become a key operational platform. To support such a mobile-centric model requires new Information Technology (IT) architecture and key capabilities in 5G, Artificial Intelligence (AI), and cloud. As a leader in these fields, Huawei is uniquely positioned to support the cloud transformation of financial institutions as well as build new connectivity capabilities, helping financial institutions improve agility and innovation
Mobile apps will be the main arena for future banks, with digital customer acquisition dictating app traffic. Banking apps will become the core platform for digital operations, and will turn into super apps by combining multiple services for all scenarios, creating an ecosystem.
Banks will therefore need to transform into mobile-centric IT architecture, including building mobile internet based on 5G technology, restructuring flexible cloud-based and distributed IT architecture, building AI-powered data platforms, and building agile micro-service architecture, open Application Programming Interfaces (APIs) , and more.
Over the past ten years, we have gained a wealth of experience in the global financial industry. In particular, in the Chinese market, we have invaluable firsthand experience working with top banks undergoing digital transformation at the same time as they are competing with tech giants exploring FinTech disruptions to the industry. The rapid development in the mobile app era of these banks has also provided a great deal of insight. We are more than happy to share our experience and ecosystems with our customers and partners around the world, to enter the mobile digital world together.
By Guo Ping, Rotating Chairman, Huawei
Huawei has a unique advantage of providing financial institutions with solutions that range from connectivity to intelligent computing and from the core to the edge. These solutions will help the global finance sector address post-pandemic challenges, accelerate mobile and intelligent transformation, and develop core digital innovation capabilities and competitiveness
2020 is destined to be an unusual year. The COVID-19 pandemic has tremendously impacted life and work worldwide, casting a shadow over the global economy. The future has become increasingly uncertain, and people are starting to think about how to cope when the “black swan” becomes the new norm.
Challenges and Opportunities Facing Financial Institutions During COVID-19
With the rapid spread of COVID-19 worldwide, reopening economies while ensuring safety, and preventing a second — or even third — wave of the pandemic have become major challenges. These challenges, plus an economic downturn, have left the world facing increasing uncertainty.
The world’s major economies have stagnated, or even experienced negative growth, and national governments and central banks are facing unprecedented challenges. It’s difficult to strike a balance between reopening economies in the short term and avoiding financial risks, which has caused uncertainty for fiscal and monetary policies.
Meanwhile, consumers’ reluctance to spend and disruptions to supply chains have had a continuous and unprecedented impact on enterprises in regards to demands, operations, and financing. Survival has become increasingly difficult for many enterprises. Financial institutions, which serve hundreds of sectors, are no exception, and face huge challenges in both the short and long term.
During the pandemic, 25 percent of all brick-and-mortar financial outlets have been closed, while the remaining outlets have shortened their opening hours and reduced staff numbers. Many bank staff have been unable to work as usual, disrupting normal operations of data centers and call centers. The pandemic has seriously impacted client acquisition and marketing channels, causing a sharp drop in both client numbers and product sales at financial institutions.
In the long term, financial institutions will face great pressure from low-quality assets, which will negatively impact their credit ratings, core capital, and equity financing. Compounding these problems, many financial institutions will face restructuring or go bankrupt. Measures such as downsizing outlets, optimizing positions, and reducing costs have become the new norm for financial institutions.
As tech giants compete across borders, financial institutions face challenges regarding client acquisition and profitability, which endangers their long-term business performance. Digital and agile operations capabilities will be vital to bridging the gaps between financial institutions and enabling leading institutions to overtake their competitors. Reshuffling and restructuring will become major trends for financial institutions.
Digital Transformation Has Become a New Direction for Financial Institutions
It is worth noting the increasingly important role that technologies, especially digital and mobile technologies, have been playing during the pandemic. The inability of brick-and-mortar stores to serve customers has led to explosive growth in online shopping, in areas such as groceries and medicine, incubating many new businesses. Numerous students have been learning online from home, which has directly driven the development of live lessons and distance education.
Many sectors and enterprises that are closely related to national economies have been able to use innovative technologies, like mobile offices and remote videos, to rapidly resume work. Thanks to stronger remote collaboration capabilities and higher work efficiency, enterprises that are taking the lead in digital transformation are more capable of resisting risks caused by the pandemic.
The same is true with the finance sector. Banks’ response to the pandemic clearly shows that digital and mobile capabilities are critical to addressing business challenges. Enhancing such capabilities will allow banks to weather the current crisis, leaving them in a better position to address future challenges.
The pandemic presents the finance sector with a great opportunity to reshape its infrastructure. This will allow the sector to achieve digital and mobile operations for its internal processes and workflows, better manage and process data, and provide more personalized services and products that better suit clients’ needs.
To achieve those goals, executives of financial institutions must re-consider how to use mobile and digital approaches to ensure business continuity. I would offer the following recommendations:
Begin with mobile office platforms to maximize the value of bank resources: For example, departments inside banks can collaborate anytime, and bank staff can assign and track tasks anywhere. Account managers can communicate with their clients and conduct marketing from home.
Enhance mobile apps platforms and use mobile programs (such as outstanding apps) to establish unified interfaces for 24/7 client services. Banks should reshape their services throughout the client journey, allowing clients to enjoy one-stop services, including consultation, investment, insurance, loans, payments, food deliveries, and ride hailing. Banks can also use flexibly structured technical capabilities to transcend service boundaries, connect to numerous sectors, and provide better services.
Upgrade big data and AI capabilities to gain access to more data: This will allow banks to more proactively and effectively conduct stress tests and risk controls, ease the pressure posed by low-quality assets, and reconfigure assets.
In addition, as all sectors — including governments and regulators — are rapidly going digital, digital transformation has become a must for financial institutions. Executives of financial institutions should proactively introduce leading technologies and implement digital transformation step by step.
Develop a “mobile first” strategy to keep pace with the mobile trends; establish organizations in regards to technology, business, operations, and risk controls, and encourage changes in cultural systems.
Introduce cloud computing technology to build an agile and scalable digital pedestal, and gradually move business capabilities to the cloud; gradually change the operating model from being offline to online, and ensure asset-light operations.
Iteratively upgrade mobile client platforms and office platforms, and reshape services throughout the client journey; establish an open, flexible, and superb system architecture that allows bank outlets to develop functions based on business needs and open up services to third-party platforms. This will enable banks to more frequently connect to and closely collaborate with Internet platforms.
Apply technologies like big data and Artificial Intelligence (AI) to enable ubiquitous banking services and continuously improve client experience.
Finally, the sector must keep pace with the development of new technologies and explore future possibilities in advance. This is important because competition in the finance sector will no longer be limited to financial institutions. New technologies, especially 5G, will revolutionize connections at bank outlet s . More importantly, these technologies will inspire comprehensive client experiences and ubiquitous business innovations. Banks will evolve from their traditional roles as banks for people to banks that also connect “things.”
In the future, digital technologies like 5G, Wi-Fi 6, the Internet of Things, and cloud will provide numerous mobile devices with fast Internet access, leading to exponential growth in connections and information exchanges. All kinds of financial services will be aggregated and delivered to mobile devices without users even knowing. Users will be able to access financial services from their smartphones anytime, anywhere. Through Virtual Reality (VR), users will even be able to communicate with bank professionals “face-to-face,” while smart assistants will provide them with detailed investment plans and fund arrangements. The possibilities are endless. Technological developments will cause disruptive changes to financial services, and all this is just the beginning
{
"lightbox_close": "Close",
"lightbox_next": "Next",
"lightbox_previous": "Previous",
"lightbox_error": "The requested content cannot be loaded. Please try again later.",
"lightbox_start_slideshow": "Start slideshow",
"lightbox_stop_slideshow": "Stop slideshow",
"lightbox_full_screen": "Full screen",
"lightbox_thumbnails": "Thumbnails",
"lightbox_download": "Download",
"lightbox_share": "Share",
"lightbox_zoom": "Zoom",
"lightbox_new_window": "New window",
"lightbox_toggle_sidebar": "Toggle sidebar"
}
Huawei Works with Ecosystem Partners to Help Financial Institutions Go Digital
Huawei advocates an overall strategy of combining connectivity and computing ICT infrastructure. The company aims to provide the world with the best connectivity through powerful, simple, and intelligent networks. Huawei also aims to provide the world with the most effective computing power through its “general computing power + AI computing power” to enable pervasive intelligence.
Connectivity and computing will collaborate and correlate through AI. “Connectivity” transmits data to “computing,” while “computing” provides support for “connectivity.” Together, they create intelligent ICT infrastructure for digital economies. By focusing on digital ICT infrastructure that consists of connectivity, computing, and AI, Huawei is committed to building an open ecosystem.
Huawei also aims to build a digital platform that will help its partners and customers in the global finance sector go digital. Based on clouds, Huawei’s digital platform will integrate new ICT technologies and data of the finance sector. Upward, this platform supports the rapid development and flexible deployment of apps, and enables agile business innovations for financial institutions. Downward, the platform improves “cloud-network-device” synergy through ubiquitous connectivity, further integrating the physical world with the digital world.
As we are about to enter the age of intelligence, we position our enterprise business as “Huawei Inside.” This represents our aspiration to become the core of the digital world and build an open, digital pedestal through a combination of ubiquitous connectivity, a digital platform and pervasive intelligence. Huawei is also committed to developing a partner ecosystem and providing its customers in the global finance sector with end-to-end industry solutions.
Huawei has a unique advantage of providing financial institutions with solutions that range from connectivity to intelligent computing and from the core to the edge. These solutions will help the global finance sector address post-pandemic challenges, accelerate mobile and intelligent transformation, and develop core digital innovation capabilities and competitiveness.
Over the past 10-plus years, Huawei has worked with more than 5,400 solution and service partners worldwide, serving over 1,600 financial institutions in more than 60 countries and regions. Throughout this process, Huawei has accumulated vast experience in doing business with the finance sector and has built a sound ecosystem.
In the Chinese market in particular, we have helped leading banks complete digital transformation and proactively respond to the disruption and competition from Internet financial service providers. We have gained vast experience in facilitating the robust development of banks during the age of mobile banking. We are more than willing to share our successful experience and ecosystem with the global finance sector, to help rapidly move the sector toward mobile and smart finance.
For details about Huawei developers and HMS, visit the website.
HUAWEI Developer Forum | HUAWEI Developer
forums.developer.huawei.com
Motion tracking, environment tracking, body tracking and face tracking – while they might be basic Augmented Reality (AR) capabilities, these are the technologies that allow your app to bridge virtual world with the real world. At the core of it, what drives this brand new visually interactive user experience is the AR Engine.
Huawei has launched the HMS Core 5.0 in June last year to bring comprehensive Huawei's leading core service capabilities to developers, in return helping them elevate the user experience. One new feature is the AR Engine that offers a wide range of AR-related capabilities, giving developers the means to easily create an all-new interactive and immersive AR experiences.
The project to build the HUAWEI AR Engine began, simply enough, by considering what the next generation of consumer electronics and computing platforms might look like. It’s commonly accepted that the biggest developments in the electronics industry only occur maybe once every 10 to 15 years. Mobile phones have been around since the mid-1990s – over two decades now. Even smartphones have now been on the market for 13 years if you count from 2007 when we saw the first real breakthrough.
So, isn’t it about time we consider exactly what the next generation of technology will look like? What will be the most important new operating systems and software technology for new consumer electronics? And what will the user interaction be like with this new generation of products? It’s high time the electronics industry reflected on its changing business models, as well as changes in the habits of its users.
To answer some of these questions, Huawei tasked numerous research teams with conducting a range of comprehensive studies on the industry. After long periods of research and discussion, these teams identified AR as one of the most important new directions the electronics industry will take. After months of discussion and planning that involved even top management, Huawei engineers are now on a mission to commercialise an AR Engine.
The development team debated at great length on the potential scope of applications this new technology might have. This began with a discussion on the traditional uses of AR to date; functions like Simultaneous Location and Mapping (SLAM), light estimation, image recognition and tracking being the most notable examples. We then launched a systematic development of new algorithms, optimising performance at the system- and chip-level to improve key factors like accuracy, reliability, performance and power consumption. Finally, with the launch of the HUAWEI P20 at the 2018 Huawei Developer Conference (HDC), we were ready to release the first ever commercially available version of our new AR Engine on the HiSilicon Kirin 970.
Following that, at the launch of the HUAWEI Mate 20, we provided an in-depth showcasing of our AR 3D modelling software. Soon afterwards, new features such as the AR Lens and 3D Qmojis were successfully adopted into main product lines by both Huawei and Honor.
However, initial research returned with mixed feedback and confusion about some of these features. Established industry experts claimed that AR was yet to establish itself as a truly stand-out feature of any smartphone. Indeed, many applications of the technology were slow to take off. As an example, due to limited smartphone rendering capabilities, AR 3D modelling has struggled to guarantee the high levels of accuracy and precision that are needed to support a mobile display online in real-time. The perception of AR technology remained that it was just a “toy”, something confined to the periphery of the electronics industry, at least for the time being.
We spent a lot of time thinking about these challenges. That’s when we decided to orient Huawei’s AR 2.0 towards three digital technology areas: people, objects and the environment. Step by step, we then laid out four priority business areas, corresponding to the technology’s core capabilities, applications, ecosystem and Cloud solutions. Finally, the AR Engine 2.0 was successfully launched in 2019. This second generation helped to redefine the AR Engine as an intelligent geometric AI platform, but more clearly distinct from generic AI platforms both in terms of its construction and purpose.
The AR metrics we have created have quickly become some of our users’ favourite gadget hacks, including an AR-assisted ToF camera. In a short space of time, this tool, in particular has proven extremely popular, racking up tens of millions of users every month. The AR Lens app, combining the Huawei camera and AR Engine technology, really is great fun to use. It’s no wonder, then, that it has already accumulated over 10 million MAU (monthly active users). We’ll continue polishing these two applications to provide Huawei customers with the great user experience they expect.
In the first half of 2020, the AR Engine, having completed a number of important optimizations and quality-control checks, went live around the world with Huawei’s accelerated development of the HMS Ecosystem. Updates to the AR Engine are now at the forefront of HMS Core 5.0, which is expanding by over 20% per month, indicating an adjusted growth rate of over 100%. The Huawei AR Engine is supported on most phones and tablets using Huawei's Hisilicon Kirin 970/980/990 and Series 8/Series 7 chipsets.
Over the past three years, we have worked extensively, closely and openly with leading partners in a broad range of industries, including e-commerce, gaming, education, maps and ecosystem toolchain developers to create an improved AR ecosystem in China. We’ve also released Reality Studio to support the rapid development of new AR applications.
With complete upgrades to portraiture, lighting, SLAM and more, don’t miss the release of our AR Engine 3.0 and the much-anticipated Reality Studio at Huawei HDC 2020.
Learn more from the video:
For more details about AR Engine, please visit the official website:
https://developer.huawei.com/consumer/en/hms/huawei-arengine/?ha_source=hms2
Very nice upgrade of AR Engine. It's very nice.
Is Huawei M and P series news is real?
Sami Qasem
VP, Global Head of Content, Huawei CBG
In this issue, Sami Qasem shares his thoughts on how 5G will influence mobile app development moving forward.
As 5G technology slowly becomes a reality for both consumers and enterprises, it also opens up all sorts of opportunities for developers to create ground-breaking mobile apps that can leverage the technology’s enhanced capabilities. For instance, the app industry will likely see a rise in cloud-based apps as developers move the processing load off the device and instead utilise 5G speeds to transmit the data between device and server. However, because 5G is still a budding technology, it comes with its own set of unique challenges and roadblocks. As such, there are still uncertainty within the industry on how mobile developers can best prepare themselves ahead of mainstream adoption.
How will 5G impact mobile apps developers?
· How will 5G disrupt the mobile app development space in terms of innovation and consumers’ expectations?
As 5G is rolled out to more countries and cities around the world, consumers will expect an in-home WiFi experience while using their mobile networks. Users will be able to enjoy faster loading of rich media, high quality content on the go and faster browsing, but it also opens up a world of possibilities to developers.
Things we’ve only imagined in sci-fi movies could become a reality. Real-time haptic feedback between users, VR and AR won’t be limited to the home, richer 3D and 4D advertising and fewer delays over mobile networks will push developers to keep up with consumer expectations.
· What are the main verticals that will stand to enjoy the maximum benefit from 5G technology?
There are a number of industries that will benefit from 5G – location-based apps, IoT devices, healthcare, education and the self-driving automotive industry are just a few. The one I’m most excited about however, is gaming. I think we’ll see a bleeding between entertainment, gaming and eSports, as well as a rise in AR/VR Gaming. The stability and speed of 5G will allow for real-time feedback and interactions.
· What should developers’ main priority be when incorporating 5G technology into their apps?
Developers will need to innovate quickly. Consumers already expect high quality content, and once they’ll be able get this reliably outside of the home, they’ll be looking for the next big thing. This might be 5K movies on their mobile or tablets. Or the next leap in the gaming experience. Hardware will need to keep up, but so will software.
As consumers get more accustomed to their content loading faster, they’ll expect their Apps to do the same. Developers should consider making their apps as light as possible, relying on cloud technology for on-demand resources. Testing will also become extra important for developers – ensuring they guarantee a good experience for customers on both 5G and non-5G devices.
· What are some available resources which can support smaller app companies in developing app features that can take full advantage of 5G exceptional capabilities?
Developers need to be pro-active and ensure they don’t get left behind, they should consider implementing technologies that are available now, where possible. Similarly, they’ll need to ensure they’re not exclusively 5G compatible, just yet. As they consider future development they should keep an eye out for articles and technologies via AppGallery Connect, as well as wider tech blogs.
The improved connectivity offered by 5G will decrease an app's load time, making it more responsive. This will significantly improve user experience by lending higher visual clarity to the app and enhancing its performance. Developers will be able to pack in more functionalities into the mobile app while boosting UX.
There is no denying that 5G will significantly upend our ways of living. It is being coined as the catalyst for the fourth industrial revolution. While 5G could disrupt industries, it has the potential to create a multitude of new business opportunities.