The New World of “Digital Commerce & Automation” lacks
Automation, Cloud, Serverless, AI, ML, IoT, Blockchain.
Automation & Digital Commerce, like any other space in life, has its own benefits and challenges. We live in an increasingly digitally-enhanced, connected world dependent on Automation. Technology changes are all around us, and coming faster than ever. There’s always something new on the horizon, and we can’t help but wait and wonder what technological marvels are coming next.
Automation, Serverless Computing, Hybrid Clouds, AI, Artificial Super-Intelligence, Machine learning, Robotic Automation, Blockchain, Marketing Automation and Inbound Marketing have reached a critical tipping point and will increasingly augment and extend virtually every technology enabled service, thing or application. Creating intelligent systems that learn, adapt and potentially act autonomously rather than simply execute predefined instructions is primary business focus atleast through the next decade.
From voice-controlled smart door locks for the home, to fully automated manufacturing and logistics systems, we rely on technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) to cater for our lifestyles, our goods and services.
As our world becomes increasingly digital, we face more cybersecurity challenges. Cybercriminals are going to create 3.5 million new, unfilled cybersecurity jobs by 2021. Compare that with one million openings in 2016. That’s an increase of 350 percent in just five years. And with that increase comes some serious cybersecurity revenue dedication. Everywhere, businesses are investing a remarkable amount of money into hiring security professionals, maintaining customer privacy and avoiding ransomware attacks.
The majority of global military powers have developed cyberwarfare capabilities and doctrines, and this will inevitably result in more states acquiring this capability in the near future. Non-state actors have also become highly proficient in exploiting cyber vulnerabilities.
This environment raises questions about the trends in cyberwarfare and offensive cyber tactics, the appropriateness of existing international humanitarian laws on the use of force in cyberspace, and the concomitant obligations of states and international institutions in managing all of this.
Hybrid & Multi Clouds.
Multi-Cloud is one of today’s biggest buzzwords. Multi-Cloud is also a fairly general term being used by many people for many purposes. Multi-cloud (also multicloud or multi cloud) is the use of multiple cloud computing and storage services in a single heterogeneous architecture. Multicloud is a cloud approach made up of more than 1 cloud service, from more than 1 cloud vendor—public or private. Shadow IT is becoming a reality that contributes to multiclouds. Hardware or software deployed independently from the central IT team may become large enough to warrant more oversight. At that point, migrating the infrastructure and data to a preferred system (let’s pretend we’re talking about public clouds here) might be out of the question.
IoT – Connected Devices.
With the world advancing towards the concept of smart cities & Automation, Internet of Things has undoubtedly become one of the main drivers for large businesses to grow. Internet of Things (IoT) is an ecosystem of connected physical objects that are accessible through the internet. The ‘thing’ in IoT could be a person with a heart monitor or an automobile with built-in-sensors, i.e. objects that have been assigned an IP address and have the ability to collect and transfer data over a network without manual assistance or intervention. The IoT is significant because an object that can represent itself digitally becomes something greater than the object by itself. No longer does the object relate just to its user, but it is now connected to surrounding objects and database data.
Blockchain.
Blockchain technology is commonly associated with Bitcoin and other cryptocurrencies, but that’s just the tip of the iceberg. A blockchain is a growing list of records, called blocks, which are linked using cryptography. The most basic definition of blockchain is a shared, digitized ledger that cannot be changed once a transaction has been recorded and verified. All parties to the transaction, as well as a significant number of 3rd parties maintain a copy of the ledger (i.e. the blockchain), which means it would be practically impossible to amend every copy of the ledger globally to fake a transaction. The concept of blockchain has energized the financial services industry globally. The concept has already brought a disruption in the financial industry.
Automation – RPA.
Robotic Process Automation is the use of software with artificial intelligence (AI) and machine learning capabilities that allows anyone today to configure computer software, or a “robot” to emulate and integrate the actions of a human interacting within digital systems to execute a business process,such as to handle high-volume, repeatable tasks etc; More CIO’s are turning to robotic process automation to eliminate tedious tasks, freeing corporate workers to focus on higher value work. By applying robotic process automation (RPA) to business processes, organizations gain a competitive advantage, cut costs, boost job satisfaction, and improve data accuracy. RPA is considered as “Future Skills” platform in a survey by NASSCOM and the Boston Consulting Group.
Artificial Intelligence and Machine Learning.
Artificial Intelligence (AI) and Machine Learning (ML) are two very hot buzzwords right now, and often seem to be used interchangeably. Machine learning is a particular approach to artificial intelligence. Artificial Intelligence is going to be the most dominant feature of every business. Everyone is curious about latest trends in Artificial Intelligence (AI). You can think of deep learning, machine learning and artificial intelligence as a set of Russian dolls nested within each other, beginning with the smallest. Machine learning is a subset of artificial intelligence in the field of computer science that often uses statistical techniques to give computers the ability to “learn”, “adapt” and “react” autonomously. People want to move towards cognitive services that include human like chatbots, speech to text and vice versa applications which is more human and more friendly than ever.
CyberSecurity, Compliance & Governance.
Cybersecurity has become a topic of interest to every financial institution as regulators increase their focus on cyber risks and controls. A common problem companies face when creating a cyber security program is a lack of communication and organization between departments and employees. Ethics and compliance can play a critical role in cyber security because of its understanding that behavior drives security breaches and responses to them. Employee error is the main cause of cyber security breaches. Reduce your risk by educating your employees with on CyberSecurity practices. With an increased focus on cybersecurity compliance in 2018, it’s critical to take a proactive approach, so you don’t have to scramble to satisfy regulators while dealing with the aftermath of an attack. Learn more about the latest CyberSecurity trends and practices in related blogs.