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Outlook 24: digital first

Head of Industry & Innovation, Transaction Banking, ANZ

2023-11-28 00:00

The future is digital first. And in 2024, businesses at the forefront of the market are already thinking digitally on every new development in their organisations.

At the centre of this focus on digital for many is generative artificial intelligence, or genAI. Used as part of a co-pilot model, genAI will help significantly increase productivity across businesses, helping deliver highly customised products and solutions with very short development periods.

Another theme that will continue through 2024 is rising interest in tokenisation. This will occur alongside the ongoing development of regulatory frameworks that cover the tokenisation of real-world assets.

This all comes as central banks around the world, particularly in the United Kingdom, Europe and parts of Asia, explore the application of digital currencies, and the shape of the financial-market infrastructure of the future.

Of course, all of these themes will be underpinned by data. Data is essential for genAI, for tokenisation, and creating a digital-first business.



The coming year won’t be one without challenges. There is still much uncertainty in the regulatory space around emerging digital tech and that’s expected to continue in 2024. It’s critical large businesses investing in these technologies ensure they’re in sync with regulators and have a firm grasp of any associated risks.

Ongoing macroeconomic challenges are also likely to keep the cost environment constrained in 2024, particularly in the fintech space. High interest rates are already forcing many in the space to reassess business priorities.

Finally, it’s critical to remember the speed at which these technologies develop. What is true today may not be in three months as capability advances based on the tools available. For businesses, striking a fine balance between innovation and risk management is crucial.

After another transformative year across markets and the economy, businesses in the Asia-Pacific region are beginning to turn their minds to their priorities for 2024.

The ongoing speed of digitisation, shifting supply chains, and continued geopolitical uncertainty will all play a role in the macroeconomic environment in the New Year. 

Over the coming weeks, ANZ Institutional will bring you select insights from our broad range of subject-matter experts, helping your business better prepare for 2024 and beyond.


Hariramchakraborthy Janakiraman is Head of Industry & Innovation, Transaction Banking, ANZ­­

Outlook 24: digital first
Hariramchakraborthy Janakiraman
Head of Industry & Innovation, Transaction Banking, ANZ
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