Looking back at the last year can help you better understand key turning points and chart a course for a promising future.

After years of not knowing what would happen and a global pandemic which also turned out to be one of the most difficult events in history, we moved forward, ready to face what was next.

We review the events of the year 2022, from the invasion of Ukraine to the stock market crash.

Apple’s market valuation exceeds $3 trillion for the first time ever:

The stock market value of Apple surpasses $3 trillion for the first time, making it the first business in history to achieve this milestone.

Russia invades Ukraine

Millions of Ukrainians suffered due to Russia’s invasion of its neighboring country, which also broke Europe’s sense of security, tore up the geopolitical map, and shook the world economy.

Cryptocurrency collapse and stock market freefall:

The market capitalization of cryptocurrencies peaked at almost $3 trillion in November 2021 but has since declined to $904 billion.

Moreso, in May of this year, the value of the biggest tech companies in the world was reduced by more than $1 trillion.

Global Inflation:

At first glance, the world economy appeared to be stronger than ever at the start of the year.

However, The year 2022 was marked by extreme inflation.

According to a new World Bank study, a global recession could hit in 2023 if central banks around the world continue to raise interest rates in reaction to inflation.

This would be followed by a series of financial crises that would have long-lasting effects on emerging markets and developing economies.

The population of the world now exceeds 8 billion:

According to the UN’s World Population Prospects 2022 report, the world’s population hit 8 billion in November this year.

Rishi Sunak was elected Prime Minister of the United Kingdom:

As the first prime minister of color and a Hindu, Rishi Sunak marks significant turning points in the development of Britain as a multicultural and multireligious civilization.

Sunak is also the youngest individual to hold the position in more than 200 years at the age of 42.

The death of Queen Elizabeth II:

The UK’s longest-reigning monarch, Queen Elizabeth II, passed away at Balmoral at the age of 96.

Elon Musk acquires Twitter: 

A filing with the US government in October revealed that the world’s richest man, Elon Musk, had successfully acquired Twitter for $44 billion.

FIFA World Cup:

For the first time, the Middle East hosted the FIFA World Cup in Qatar.

In one of the most exciting finals in recent memory, Argentina won the 2022 World Cup by defeating France.

Finally, this year showed us more than anything else that our efforts, whether big or small, can alter the world as we strive to discover the potentiality of the unattainable.

Let’s work together to make 2023 a better year.

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To combat climate change, cities and corporations all around the world are establishing goals to drastically reduce their greenhouse gas emissions.

These goals and commitments are frequently linked to a goal of achieving Net Zero emissions by a specific date in the future.

Simply described, this entails balancing emissions created by an organization’s operations and supply chain with pollutants removed from the atmosphere.

Achieving Net Zero necessitates a concerted effort involving many elements of the organization.

What may appear onerous may be broken down into strategic and manageable transformation routes that begin with analytics, progress to solution development, and conclude with change implementation.

Is it possible to achieve net zero emissions by 2050? Yes, according to a new study, but we’ll need to make some significant changes.

By 2050, about 90% of the world’s electricity will have to come from renewable sources, with solar and wind accounting for 70% of that.

Electricity generation will require the most investment over the next decade, with annual investment rising from around $0.5 trillion in the last five years to $1.6 trillion in 2030.

By that time, annual renewable energy investment will have surpassed the largest amount ever spent on fossil fuels, reaching $1.3 trillion. At the same time, global investment in fossil fuels must continue to decline.

Continued investment in electric vehicles, sustainable energy infrastructure, industrial process transformation, and more energy-efficient buildings will be critical.

According to the research, reaching net-zero by 2050 will be impossible without a significant acceleration in renewable energy innovation.

In reality, current technologies will achieve nearly all of the emissions reductions required by 2030 to keep the world on schedule to meet the 2050 objective.

However, achieving net zero carbon will necessitate the broad adoption of technologies that are still in development today.

Nearly half of CO2 emission reductions in 2050 will have to come from technologies that are now in the prototype or demonstration stage.

As a result, significant innovation efforts will be required in the coming decade to bring technologies like carbon capture, utilization, and storage in cement manufacturing, or ammonia fuels for shipping, to market.

To achieve net-zero emissions by 2050, yearly clean energy investment must more than triple to nearly $4 trillion by 2030.

By the end of the decade, millions of new employment will have been created, global economic development will have been greatly boosted, and everyone will have access to energy and clean cooking.

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The rise of more than 80 per cent over the five-year period will be driven by the increased adoption of digital payments in the wake of the Covid-19 pandemic, UK-based Juniper Research said. 

Contactless and e-commerce payments are expected to account for 50% of overall digital wallet spending in the next five years, compared with just under 36% last year.

Combined with increasing penetration rates, the rapid growth in the availability of digital wallets means that merchants face difficult choices. It added that choosing the correct wallet providers and the integration costs for using multiple wallets are proving to be a challenge. 

“In order to support a digitally-engaged addressable market, merchants must base their payment strategies around wallet acceptance… but must also judge the right wallets to target, or they will be lumbered with increased costs and limited benefits,” said co-author of the study, Alexandria Sadler. 

She added that wallets are becoming more and more capable of both “contactless and remote payments”

In order to allow payments at a point of sale, a digital wallet stores the credit and/or debit card details of users and links it to a payment gateway. Such wallets would only operate for retailers who accept them as a means of payment, like a credit card. 

In 2011, with its Wallet service, Google was the first major company to introduce a mobile wallet. A variety of others, such as Samsung Pay, PayPal and Apple Pay, are now available. Many telecoms providers and banks have their own services for mobile wallets. 

The Juniper report found that the increased usage of contactless mobile payments, triggered by cash issues during the Covid-19 pandemic, has led to greater use of digital wallets across the payments ecosystem.

Contactless adoption will continue to grow, with contactless payments projected to be used by over 34 percent of mobile phones in 2025, up from 11 percent in 2020, it added.

Source: Tech Gist Africa

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In 2019, the top 500 corporations in the world created $33.3 trillion in sales and $2.1 trillion in profit.

During the pandemic, some of the world’s largest corporations grew, while others shrank.

After the COVID-19 pandemic wreaked havoc on oil demand in 2020, Saudi Aramco is no longer the world’s most profitable company.

Apple has now surpassed Aramco as the world’s most profitable company, with a profit of $59 billion in 2020.

Although market capitalization shows how much it costs to buy a piece of a business today, it’s worth considering whether it represents the company’s objective or intrinsic worth.

Every one of the ten most profitable companies has its headquarters in the world’s two largest economies, the United States and China: half are American and half are Chinese.

Moreover, half of the companies on the list are technology firms, while the other half are financial firms.

Here are the 10 Most Profitable Companies in the World – 2020, according to Investopedia:

1. Apple Inc.

• Net Income: $58.4 billion
• Revenue: $273.9 billion
• Market Cap: $2.1 trillion

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Although robotic process automation (RPA) has long been recognized as having potential applications in finance departments.

According to the recent report, we may have reached a tipping point, fuelled at least in part by the pandemic, where people now prefer robots to humans to handle their finances.

Oracle conducted a global survey of 9,000 consumers and business leaders in 14 countries, including the United Arab Emirates and Saudi Arabia, in 2020 to better understand the effect of the coronavirus on people’s financial anxiety, confidence in automated finance tools, and how their relationship with money has changed.

According to the report, the pandemic has raised overall financial anxiety, and respondents’ views of finance teams have changed.

Although 70% of general respondents said they would trust a robot to handle their finances more than a human, 79 percent of business leaders said they would trust a robot to manage their finances more than themselves, and 81 percent said robots would do a better job than their own finance teams.

The increased confidence in robots is credited to artificial intelligence, machine learning, the internet of things, and the blockchain, according to the report.

The available tools were found to be most successful at fraud detection (41%), invoicing (33%), and performing cost-benefit analysis by the 94 percent of surveyed business leaders who believe robots will boost the work of their finance teams (20 percent)

According to Swami Natarajan, Strategic Accounts Program Leader  Business Applications, ECEMEA at Oracle, “In the survey, business leaders said the top ways that robots can better their work are by detecting fraud, generating invoices, and cost/benefit analysis.”

Consumers, too, saw the potential in robots for managing their personal finances, particularly for fraud prevention, spending reduction, and making better-informed stock market investments, Natarajan added.

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If 2020 has taught businesses one thing, it is the importance of building resilient businesses that can adapt to business challenges.

Intelligent automation (IA) is the key of process streamlining and redundancy reduction in a rapidly global economy.

In essence, automation allows time to take on more complicated tasks to ensure high-quality service.

Also, automation helps reduce costs and enhance solutions to clients.

Intelligent automation, however, has captured the attention and curiosity of the business world in the last few years.

Basically, IA is a fusion of artificial intelligence and automation

Almost every industry is transforming the way companies operate.

Moreover, Businesses are using IA to generate and process a large amount of data, automate end-to-end operations to make performing tasks and more effective.

Productivity improvements and quicker path to value have always been enticing automation features.

But now that corporations are having difficulties to restart their businesses and recover traction after the devastating hit of the pandemic, IA are much more critical.

Therefore, we need creative ways to address these challenges, and automation is high on the list.

Here are some stats that indicate how IA is disrupting businesses;

Today’s technology can automate 45%  of current paid activities.

84% of managers and analysts say that is IA will allow them to gain competitive advantage.

72% of decision-makers claim that IA would allow employees to concentrate on more critical tasks.

With IA, 60% of occupations could save 30% of their time.

49% of businesses use marketing automation at present.

IA will produce a labor value of $134 billion by 2022.

CEOs spend about 20% of their time on tasks that can be automated.

Poor data costs  organizations about $600 billion a year .

80% of users said their leads increased significantly with marketing automation, and 77% said their conversion improved.

By 2021, 85% of customer services will be automated.

98% of IT leaders say automating business processes is vital to driving business benefits.

In conclusion;

However, not only can automation support in our current needs, such as cost-cutting measures in this period of financial instability, but it can also create business resilience and minimize risks.

in addition, IA technologies are being adopted at an increasing rate across enterprises, resulting in significant cost savings and improvements in efficiency.

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1) Coronavirus
2) Election results
3) Kobe Bryant
4) Zoom
5) IPL
6) India vs New Zealand
7) Coronavirus update
8) Coronavirus symptoms
9) Joe Biden
10) Google Classroom

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However, the unique characteristics of Big Data are its volume (size), velocity (speed), variety (nature), value (worth), and veracity(accuracy), making it impossible for traditional data processing software to manage.

Organizations today require the accurate insights that are available from big data analytics for their businesses to thrive and several of them also invest heavily in Big Data technologies for the many benefits their businesses stand to gain from it.

A key benefit from Big data analytics is the customer insights available to organizations that enable them to deliver value to their various customer segments.

It so happens that over 88% of data is ignored and valuable customer/ market insights are lost.

The following statistics highlight our top benefits of adopting Big Data Analytics in your organization.

• 8–10% – profit increase for businesses that use big data.

• 25% faster innovation cycles.

• 17% improved business efficiencies/higher productivity.

• 13% more effective R&D.

• 12% increase in product/service value offering From social media alone, over 100 terabytes of data are shared on Facebook daily.

Every minute, users send 31 million messages and view 2.7 million videos.

Companies that harness big data’s full power could increase their operating margins by up to 60% The numbers only keep increasing and the next decade will usher in the greatest expansion in the datasphere.

Organizations need to adopt a framework and business structure that integrates relevant internal and external datasets manages the data using the appropriate storage medium and analyzes the data for appropriate action to be taken.

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