The Banking Executive Magazine - January 2023 Issue

TECHNOLOGY OUTLOOK 2023 IN RESPONSE TO ECONOMIC DOWNTURN AND CRISES INTRODUCTION The new year 2023 will be a tough year at all levels, with forecast of economic recession triggered by var- ious factors, more wars, and a non- ending pandemic (endemic). With several global crises occupying our daily lives, it is important to iden- tify how we can leverage technology to solve problems and address chal- lenges. Today, we have more access to data from various devices, envi- ronmental sensors, video capture, and other connected devices. When combined with cloud technologies, Artificial Intelligence (AI), computer vision, machine learning, Internet of Things (IoT), simulation, and the metaverse, information technology may have a key role in addressing challenges, bringing financial and monetary stability, counteracting re- cession, building solutions to save the planet, and re-imagining the sup- ply chain from the warehouse to de- livery. As access to advanced the BANKING EXECUTIVE 8 ISSUE 169 JANUARY 2023 BY DR SOHA MAAD