Unlocking Legacy Potential: How Intelligent Twin Power Modernization
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Read moreAgile Evolution: Harnessing AI for Legacy Modernization in the Disrupted Business Era
The relevancy of structured application modernization remains a key priority specifically with every business undergoing disruption. Technology modernization in the 2024 mindset is no longer merely about cost take outs but finding additional revenue streams to meet customer expectations in a fast-changing digital IT landscape.
In most situations to manage the daunting inevitable change of accumulated technical debt, expensive ripping, switching from sun- setting trusted systems and critical applications to newer applications or towards a mere adoption of multi-cloud, cross-platform environment, using containers, applying CI/CD principles and automation testing are sound techniques followed.
However, today these traditions are outmoded by adoption of Blockchain, GenAI and immersive technologies for use cases such as claims and settlement, market investments, automating underwriting, risk assessment, financial forecasting, dynamic pricing models etc. By embracing these technologies and solutions with code at scale, companies can unlock new revenue streams which trigger an AI-driven impact economy.
According to a Gartner report, by 2027, GenAI tools will be used to explain legacy business applications and create appropriate replacements, reducing modernization costs by 70%.
Navigating Modernization with Evolving Technologies
Essentially optimizing business operating models with a hybrid cloud and AI measurable and rationale path to drive cost efficiency, increase productivity and create opportunities for innovation are key core modernization frameworks. Applying generative AI with code generation power to scale businesses can enable hybrid cloud developers of all experience levels to migrate and modernize legacy application codes at scale to the new target platforms with code consistency, less error, and speed accelerating modernization. Such adaptive, embedded and resilient techniques heal the core itself diagnose tech debt accumulation in tech stacks and support engineers as they write the necessary code to modernize.
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However, these disruptive technologies have their share of challenges and complexities which often makes modernization journey difficult. Here are several strategies that businesses can employ to navigate the modernization complexities:
Prioritize Projects Based on Business Value
Efficiently modernizing legacy applications requires a strategic approach to project prioritization. Instead of tackling updates in a sequential or ad hoc manner, businesses should focus on the projects that promise the highest business value.
Furthermore, utilizing AI and data analytics, organizations can gain insights into which modernization efforts will most significantly impact customer satisfaction, operational efficiency, and revenue growth. By aligning modernization projects with business goals, companies can ensure that their investments in technology not only modernize their legacy systems but also drive tangible business outcomes.
For instance, deploying AI to improve customer service platforms can significantly enhance the customer experience by providing personalized and timely responses. Similarly, modernizing data storage with cloud solutions can facilitate better data-driven decision-making and agility in responding to market changes.
Diagnose and Treat Tech Debt Accumulation
Support your engineers as they write the necessary code to modernize by encouraging a product-based approach. Ask them what company wide solutions are needed to reduce tech support calls, service, and privacy fire drills. Leverage AI to comb through the requests fielded by your IT team and then host hackathons and brainstorming sessions to address the most prevalent and consistent challenges.
Time Saving AI Uses Starts with Custom Platforms
Deploy generative AI test automation platforms that validate and manage results efficiently, predictively and with high accuracy thus increasing collaborative agility and saving time across key stakeholders. These platforms have enhanced machine levels of reporting and expanded coverage and ultimately lower costs.
Adopting Cloud-Native Architectures
Transitioning to cloud-native architectures facilitates the seamless integration of AI and machine learning capabilities into modernized systems. Cloud platforms offer scalable infrastructure, AI-driven services, and advanced data analytics tools that underpin modernization efforts. By leveraging cloud-native technologies, businesses can achieve greater flexibility, agility, and cost-efficiency in deploying AI-powered solutions across their digital ecosystem.
Implementing Security and Compliance Checks
As businesses modernize their systems with AI and other emerging technologies, prioritizing security and regulatory compliance becomes paramount. Implementing robust cybersecurity measures, encryption protocols, and AI-based threat detection systems safeguards sensitive data and mitigates potential security vulnerabilities. AI-driven compliance monitoring tools can also facilitate adherence to industry regulations, ensuring that modernization initiatives align with legal and ethical standards.
Conclusion:
The path to modernizing legacy applications extends beyond mere technological upgrades. It entails a diverse, market-driven approach aimed at enhancing business efficiency. By establishing robust business-backed roadmaps and prioritizing projects based on their business value, organizations can navigate this journey effectively.
Adopting an incremental approach, balancing functionality and user experience, implementing a millennial-centric digital strategy, and judiciously leveraging future-proof tools that seamlessly integrate are some of the robust strategies that can help enterprises confidently navigate the complexities of modernization.
To delve deeper into the critical significance of legacy modernization and the pivotal role of AI in driving modernization efforts, we invite you to register now for our upcoming webinar featuring Principal Analyst from Forrester, Carlos Casanova, and Akshay Deshpande, Chief Technology & Solution Delivery Officer Corporate at Quinnox. Gain invaluable insights into the strategies and best practices that will empower your organization to thrive amidst the ever-evolving technological landscape.
Register today to avail a personalized complimentary Forrester expert-led Advisory session! For details, check here: https://www.quinnox.com/complimentary-forrester-advisory-session/
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