Lenovo’s cutting-edge technology solutions can transform the financial services industry for a better tomorrow

In an interview with ET Insights, Subraneel Bose, Director and Head of Enterprise Business, Lenovo India, talks about how Lenovo is adopting new technologies like AI and Virtual Reality to drive a future of customisable innovation. Here are some excerpts:

How is smart technology changing the way we work?

Lenovo leverages smart technology that goes beyond the desktop and the smartphone and is shaping the way we work and live, offering innovative and end-to-end solutions, customised to enrich workplaces, cities, and people’s daily lives. With the future of work becoming hybrid, we are building cost-effective tech solutions that meet the demand of employees seeking a more flexible experience. Lenovo’s Digital Workplace Solutions, for instance, is a full-service model ready, offering a host of human-centred technology designed for flexibility, productivity, and efficiency. Our purpose is to build a holistic approach to creating a digital workplace that empowers employees wherever they work from.

We use cutting-edge technologies such as Artificial Intelligence, Augmented and Virtual Reality and edge computing to drive a future of customisable innovation. With our global partners, Lenovo is helping develop autonomous, self-driving wheelchairs to navigate homes and beyond, and leveraging Artificial Intelligence to create more accurate, affordable, and accessible eye-tracking solutions for users to control computer interfaces exclusively with eye movement to overcome life-challenging situations.

At the same time, we are committed to environmental leadership and are focused on providing smarter technology that builds a brighter, more sustainable future for our customers, colleagues, communities, and the planet. We are continuously innovating to improve the energy efficiency of our products. Our CO2 Offset Service as a solution will help our customers meet their own environmental goals and it surpassed 1 million Metric Tonnes of Carbon Offset. We are playing a big role in the transition to a circular economy by innovating our product designs. In 2021 alone, we integrated more than 13.5 million KGs of recycled plastic into our products and recently, Lenovo ThinkPad Z13’s eco-conscious design made its way onto TIME’s Best Inventions list of 2022.

How will the PC business stay competitive in a world where everything changes quickly?

The PC industry is highly competitive and constantly changing as technology evolves and customer needs change. PCs are seen as the most cost-effective mode of computing and its usage has bounced back during the Covid-19 pandemic that saw a move towards hybrid work and the need for collaborative spaces.

This necessity for increased collaboration has resulted in growth across Lenovo’s PC segments as we continued to launch innovative devices across diverse needs of Enterprise, SMB & Consumers – from the stylish and powerful Yoga, foldable notebooks to most secured & reliable business-focused ThinkPads, to the gaming-centric Legion laptops.

Lenovo maintains that the PC remains the most effective mode of computing across a gamut of needs ranging from work, school, home, and gaming. Our collaboration with partners like Intel, AMD, Qualcomm, and Microsoft helps us to launch the latest technologies to keep our customers engaged across segments.

The PC market in India is dynamic and companies like us are staying ahead of the curve by building PCs that are more portable, powerful, secure, and reliable. New technologies such as 5G, Wireless WAN, WIFI 6e, e-Sims and hi-tech displays with touch capabilities have added excitement to the competitive PC market.

Hybrid working is the new norm in the industry, as security and authentication becomes fundamental to every organization. With technologies like facial recognition, behind-the-shoulder human presence detection, physical camera shutter, our devices offer the best security & privacy features.

Our computing offerings are based on customer needs and set the industry benchmark for on-the-go reliability and performance. To meet the market need of the shrinking office space, our ThinkCentre tiny desktops deliver superior performance, lifecycle stability, robust security, and premium support offerings.

What exactly is edge computing and why is it important?

In today’s digital-first business era, organisations have realised the need to be agile and innovative to stay ahead of the curve. This means leveraging data-driven intelligence to deliver improved customer experience and value. Edge computing is transforming how data is stored, processed, analysed, and transported. Most analysts predict edge computing to be the fastest-growing segment in the industry, with IDC predicting that 50% of new enterprise IT infrastructure will be at the edge by 2023.

One of the most significant opportunities for companies is to determine how to harness data from the edge to the cloud. The Lenovo Edge ecosystem is open and flexible and integrates with key cloud providers to give the end-user end-to-end, ongoing management. Lenovo’s ThinkEdge portfolio has purpose-built devices designed to be networked on-premises. As our priority is on reliability, performance, ease of management, lower latency, and security, our ThinkSystem servers will safeguard data while meeting application and performance requirements.

Lenovo is committed to delivering optimised infrastructure solutions using open cloud architecture that requires data that is connected, so it can be absorbed, consumed, and acted upon. This, in turn, necessitates a new approach to collecting, managing, sharing, and distilling insights which subsequently empowers organisations of every scale.

With the deployment of IoT devices and the arrival of 5G networks in India, the volume of data usage will increase exponentially. This will create an opportunity for edge computing as well to become more mainstream across businesses and industries in the country.

Why does the BFSI sector need to undergo a digital transformation?

The evolving pace of digitisation, the growing threat of cybersecurity, and the need to adopt newer technologies can pose hurdles for organisations in the Indian Banking, Financial Services, and Insurance (BFSI) sector as they try to manage costs, efficiency, and customer experience while complying with regulatory frameworks. Customers are demanding seamless delivery of personalised services, whether at a physical branch or on a laptop, tablet, or smartphone. Digitising the BFSI sector will speed up its operations, achieve operational efficiency, and helps in delivering a better customer experience (CX). This is where Lenovo’s cutting-edge technology solutions can transform the financial services industry for a better tomorrow. Lenovo Managed Services can handle the entire IT infrastructure and allow business leaders to focus on critical objectives.

The sector being an early adopter of technology with its progressive digitalisation, it does not remain absolved from the risk of data breaches. Between June 2018 and March 2022, Indian banks reported 248 data breaches resulting in theft of both business and personal information, emphasizing the need for ongoing upgrades to security measures in the sector. Lenovo’s comprehensive IT, Security and asset management solutions can help organisations with device management, asset tracking, proactive analytics and self-healing, compliance, and security management. We also have strategic partnerships in place with our software solution partners that allow us to design, deploy, and deliver these solutions.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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