We asked Axway business, industry, and technology thought leaders to weigh in with their perspectives on emerging trends heading into 2024 and received strong insight into some of the most pressing issues facing IT and business leaders. Here is a summary of their responses:
01 AI and low-code/no-code platforms are set to simplify life for data integrators
Vince Padua | Chief Product Officer at Axway
In 2024, we can expect to see the use of artificial intelligence (AI) and machine learning (ML) to automate more integration tasks such as data mapping, data transformation, and error handling. This will make integration easier and free up IT teams to focus on other tasks. Low-code/no-code development platforms will enable nontechnical users to integrate applications, business partners, and data, which is important as businesses need to integrate more and more applications and partners across their ecosystem.
02 AI-powered assistant will redefine interaction between information systems
Emmanuel Methivier | Catalyst and Business Program Director at Axway
2024 will probably see the emergence of a new approach to interaction between information systems, thanks to the arrival of the AI-powered assistant. OpenAI wants to create a competitor to the iPhone that will essentially to ChatGPT in your pocket, making it the ultimate advisor. Also, it’s time to reform our vision of APIs as technical connectors, and embrace them as business-oriented digital products. By reassessing APIs as products we can adapt them to the new consumers of services: generative AI.
03 Consumers want more control over who uses their data and will get it
Brian Otten | VP Digital Transformation Catalyst at Axway
Regulation in 2024 will continue to drive API decision-making in the wake of a new CFPB proposed rule on personal financial data rights, advancing the trend of responding to the public’s need for consent and control over their data. Opening up data exchange through APIs with an open platform strategy will help organizations go beyond deploying interfaces or securing them in a gateway with API security policies, and look for out-of-the-box platform capabilities to provide data ownership and consent.
04 API marketplace and productization will drive up the business value of APIs
Mourad Jaakou | General Manager of Amplify Platform at Axway
Greater acceptance of APIs as products in 2024 will enable organizations to track API usage, performance and business value, and open the door to a new way of presenting APIs for inclusion in partner apps: the API marketplace. The ability gather and curate the right API products in a single API marketplace makes them more discoverable, usable, and trackable – allowing more enterprises to engage in direct and indirect monetization of API products, and extend every API’s business value even further.
05 Value-added networks (VANs) are ready to reclaim ground in B2B communications
JB Bentz | VP and General Manager of B2B Integration at Axway
In 2024, we can expect a resurgence of network-based connectivity in B2B communications, whether by means of traditional value added networks (VANs), or by the newer four-corner model being pushed heavily in Europe, like PEPPOL. This will ultimately reduce onboarding time, maintenance activities, and improve security by allowing a company to have full control over their own security credentials to the network, and not maintain a point-to-point security position.
06 Subscription-based managed cloud services will help accelerate MFT security
Meetesh Patel | VP and General Manager of Managed File Transfer for Axway
Security will continue to dominate the MFT conversation in 2024 and heighten demand for MFT solutions that can be easily updated as risks evolve, minimizing vulnerabilities and guarding any potential threats. With this in mind, subscription based managed cloud services for file transfer are likely to see growing demand as this will allow companies to outsource part or all of their MFT operations to experts using dedicated tools and security protocols along with regular updates to ensure data protection.
07 New CFPB rule will move banks away from screen scraping for sharing data
Laurent Van Huffel | SVP of Financial Services at Axway
What bodes well for banks in 2024 is that many consumers are comfortable with sharing their data if it means valuable services and a better experience. It’s encouraging to see the U.S. Consumer Finance Protection Bureau (CFPB) proposed personal financial data rights rule, which will move banks away from screen scraping as a data-sharing mechanism and toward publishing open APIs. The proposed rule will also level the playing field and represents a formidable opportunity for smaller banks and credit unions.
08 From diagnosis to patient follow-up, AI will significantly impact healthcare
Bas Van Den Berg | VP of Amplify Platform at Axway
Going into 2024, AI is going to be a top story healthcare, although there’s a potential for bias due to the materials used to train the LLM (Large Language Model). If the past is any indication, AI will be proposed in many areas from diagnosis to patient follow-up to claims coding. Also, there’s been a lot of talk about the rise of quantum computing and the risk that SHA-2 encryption — the backbone of internet data exchange — will be broken. If true, this could impact data exchange in every aspect of healthcare delivery.
Get the complete picture of the digital integration trends that will shape 2024
