target audience: TECH BUYER Publication date: Mar 2022 - Document type: IDC Innovators - Doc Document number: # AP48614821
IDC Innovators: Artificial Intelligence Operations in the Financial Industry, 2021
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Abstract
IDC Innovators are emerging vendors with revenue below US$100 million and have demonstrated a groundbreaking business model, an innovative new technology, or both. This IDC Innovators study Beijing BizSeer Technology Co. Ltd. (BizSeer), Shanghai Di-Matrix Information Technology Co. Ltd. (Di-Matrix), and Shenzhen Uwin Technology Co. Ltd. (UWinTech), in no particular order, in the financial sector AIOps market.
"IT and digitalization in the financial sector started earlier, and the operations data, tools, and processes have been well established into a more complete structure. Thus, the use cases and practices of artificial intelligence operations (AIOps) in this industry are more extensive than those in other industries. AIOps vendors can be classified into two groups: the traditional financial fintech vendors and start-ups that are emerging more and more in this arena. Should they empower current IT operations process with the conception of 'algorithm is king' or results orientation? Should products be standardized or customized for specific use cases? Financial services institution (FSI) customers and AI for IT operations vendors still have differences in their understanding and policies of business models, product settings, and use cases. However, in the face of increasingly stringent demands for IT operations and system services, AIOps has become a must for FSIs to support the accelerated iterative updating of financial digital products and services and the increasingly personalized financial needs of customers," says Liu Xiao, analyst, IDC Financial Insights.