Function-as-a-Service is being adopted across various industries due to its cost-effectiveness, scalability, improved productivity and performance, faster time-to-market, better control of critical applications, and reduced business downtime and losses.
Here are some relevant examples:
Banking, Financial Services, and Insurance
Financial institutions are using FaaS for the automation of operations and cost saving. Additionally, FaaS can provide a comprehensive view of customers and financial products, helping with retention and acquisition. The ability to efficiently integrate multiple delivery channels for banks has also contributed to the growth of FaaS in the financial services industry.
IT & Telecom
The growing demand for efficient and secure FaaS systems in the media and digital content industry is driven by an increasing number of users and the adoption of related technologies. FaaS can help IT, and telecom companies meet the challenges of evolving customer requirements, such as changes in plans, devices, and payment models, and offer a hyper-personalized experience to customers at a lower cost, which can improve customer engagement and loyalty.
FaaS allows the retail industry to seamlessly integrate various shopping channels and offer a unique experience to connected consumers. Retailers are using FaaS to create a flexible, event-driven IT infrastructure that allows different applications to share and analyze information in real time, helping them to determine the best way to interact with customers and achieve agility.
Transportation and logistics
The transportation and distribution industry faces several challenges, including industry regulations, security mandates, shipping delays, product errors, design faults, and outdated technology concerns. Cloud services from TSPs can assist with inventory tracking, logistics, and communication management, improving business and customer services.