AI has certainly become the hallmark of digital transformation strategy. According to IDC, global AI spending is forecasted to reach $500 billion in 2024 with a CAGR of 17.5%. Likewise, Gartner predicts low-code application platforms (LCAP), robotic process automation (RPA) and AI are fueling the growth for hyperautomation, and the market will reach $596 billion in 2022, up nearly 24%.

According to Norton’s Cyber Safety Pulse Report, India faced over 18 million cyber threats in only Q1 2022, roughly 200,000 threats every day. Of the bulk, 60,000 were phishing attempts, and 30,000 were tech support scams. For perspective, phishing attempts around the world during the same period counted for approximately 16 million. CERT-In also reported over 2.12 lakh (~0.1 million) cybersecurity incidents until February 2022.

Digital-first businesses are striving for service assurance, which has become the lifeblood for their businesses processes. But they are increasingly getting complex across legacy and cloud-native applications, multi-cloud distributed services, with the rise of edge and when leveraged with Kubernetes and microservices architectures. Service assurance needs full-stack observability; however, customers need an approach to tame the data deluge while enabling actionable insights.

It was great to be back in person for the Cisco Live 2022 annual conference that happened in Las Vegas from June 12 to June 16, 2022. CloudFabrix is a Cisco solution partner and we had our booth #3645 on the show floor where we showcased our Robotic Data Automation Fabric (RDAF) and how it can help accelerate AIOps and Observability projects. We got a lot of interest from many enterprises, partners, and community members.

Enterprises today want real-time business insights to make decisions that improve operational efficiency and customer engagement and present newer revenue opportunities. However, the promise of the data-driven business falls short due to gaps in data management. These gaps exist because data in the modern enterprise doesn’t exist only behind firewalls and within organizational premises.

My market trends and predictions for 2021, be it for AI-based drug discovery or cybersecurity, have certainly accelerated in 2022 as a result of Covid-19 and the ongoing pandemic. This has brought unprecedented uncertainty, fear and challenges to how we do business, work, live and play.

Artificial intelligence for IT Operations (AIOps) encompasses technologies that augment human decision-making with autonomous decision-making driven by AI and ML technologies that learn patterns and relationships from underlying datasets.