Daily Tech Digest - January 08, 2017

The Fourth Industrial Revolution disrupted democracy. What comes next?

ICT played a key role in 2016, and it is clear that the Fourth Industrial Revolution will continue to drive politics and industry. Leaders should interpret the events of last year as a sign that communications have been truly democratized. The technology that allowed electorates to organize and coordinate in unforeseen ways to determine the fate of an economic union, as well as the impeachment or selection of the next leader, is affecting other areas of society in as yet unforeseen and unexpected ways. ... At this year's Davos, the theme of “Responsive and Responsible Leadership” is a good opportunity to talk about this new context. It’s the start of a new era and the birth of new communication controlled by the many, not the few.

SWIFT Speaks On Fraudulent Messages And The Security Moves 

The SWIFT cooperative is taking other steps to help secure the wider community. To support the community in sharing cyber-threat information, SWIFT has put a forensics team in place that works with clients to retrieve information about any SWIFT-related security incidents to support their security efforts. Whether a transaction has been blocked, or processed, without the movement of funds, or if hackers compromise a bank successfully, the forensics team helps customers with their investigations, and shares that information in an anonymized form with the wider community through SWIFT’s security notification process, explains Antonacci. “When we become aware of a new modus operandi or indicator of compromise, whether through local ISACs, CERTs, local agencies, or our customers, we anonymize the data so that customers are comfortable sharing it and we, in turn, share it with the entire community,” says Antonacci.

How voice technology is transforming computing

This is a huge shift. Simple though it may seem, voice has the power to transform computing, by providing a natural means of interaction. Windows, icons and menus, and then touchscreens, were welcomed as more intuitive ways to deal with computers than entering complex keyboard commands. But being able to talk to computers abolishes the need for the abstraction of a “user interface” at all. Just as mobile phones were more than existing phones without wires, and cars were more than carriages without horses, so computers without screens and keyboards have the potential to be more useful, powerful and ubiquitous than people can imagine today. Voice will not wholly replace other forms of input and output. Sometimes it will remain more convenient to converse with a machine by typing rather than talking

Blockchain: Unravel the Unrevealed

We are managing our organizations in a traditional way, but we are trying to adapt this new technology, where we don’t know whether Blockchain would be beneficial for our main business lines or not. Automatic control and automating operations are not the same. But in both cases it needs experience in modeling and running parallel systems. It is necessary before declaring that the firm/ organization will change from conventional to the newest. Firms can start with parallel processing approach, where both the traditional and Blockchain method will be used. Following which, firms can slowly move their business lines in succession to Blockchain technology, and comply with the ecosystem. This would help firms to leverage the dual benefits of speed and security without hampering the current management process. The only thing that firms needs to figure out the costs of Investment.

Beyond Robo-Advisers: How AI Could Rewire Wealth Management

"There's information out there that is highly correlated to stock return, bond return and market return," said Jody Kochansky, head of the Aladdin product group at BlackRock. "We believe that the firms that can get organized around their data, understand and are able to research what all those data are telling them and predicting can ultimately invest in a way to create better returns for clients." Aladdin, which is based on open source technology and Hadoop, uses natural-language processing to read thousands of documents, including news stories and broker reports, and comes up with a sentiment score on the entities or companies the articles mention. Social media feeds give Aladdin insight into news events. If people tweet photos of a fire that broke out near a gas pipeline, that could cause a scare 45 minutes later in the energy market, for instance.

Time for a Blockchain Digital Currency, Says Indian Central Bank’s Research Arm

In a significant endorsement of blockchain technology, bitcoin’s underlying innovation, the research arm of the Reserve Bank of India (RBI) – India’s central bank – has tested blockchain solutions for core banking processes in the country. More notably, researchers have determined that blockchain technology has “matured enough” to be the core technology to support the digitization of India’s fiat currency, the rupee. Established by the central bank, the Institute for Development & Research in Banking Technology (IDRBT) is the research arm of the RBI and the foremost banking research institute in the country. ...  A blockchain proof-of-concept (PoC) was developed and implemented in a trade finance application involving regulators and banks.

Using data science to beat cancer

The good news is that big data’s role in cancer research is now at center stage, and a number of large-scale, government-led sequencing initiatives are moving forward. Those include the U.S. Department of Veteran Affairs’ Million Veteran Program; the 100,000 Genomes Project in the U.K.; and the NIH’s The Cancer Genome Atlas, which holds data from more than 11,000 patients and is open to researchers everywhere to analyze via the cloud. According to a recent study, as many as 2 billion human genomes could be sequenced by 2025. There are other trends driving demand for fresh data, including genetic testing. In 2007, sequencing one person’s genome cost $10 million. Today you can get this done for less than $1,000. In other words, for every person sequenced 10 years ago, we can now do 10,000.

Internet Of Things (IoT) Outlook For 2017

5G is the panacea, supposedly. 5G, however, is many years from being realized in any meaningful way driving telcos to have to deal with new IoT models using alternative technologies today. Telecom operators’ strategies and business models for generating revenues from IoT will continue to develop through 2017—and won’t be set by this time next year. For telcos, we’ll continue to see the battle between NB-IoT and LTE-M play out based on region and monetization models through 2017. Infrastructure providers such as Ericsson and Huawei will continue to increase in importance, providing strong portfolios of IoT hardware and software solutions that everyone needs. Alternative LPWAN technologies will become increasingly strong in niches where the bandwidth, capacity and security of 3GPP standards aren’t necessary (or cost affective). 

Technology is changing the way we live, learn and work. How can leaders make sure we all prosper?

Of course, spreading the benefits from technology demands leadership from governments, too – in areas like education, infrastructure, regulations, taxes and social protection – as well as individuals taking responsibility for developing their skills. But these are great examples of how leadership in the private sector can help to shape the way technology remakes society. The changes won’t happen overnight. In the first industrial revolution, it took several decades after the invention of the steam engine for societal changes to play out. After electricity became widely available, it still took about another three decades for industrialists to fully rethink their factories, business models and organisational structures to take advantage. Similarly, the social impacts of many of today’s emerging technologies are likely to take several decades to shake out – from self-driving cars to healthcare to manufacturing to financial services.

IT Service Providers Increase Investment In Onshore Locations

Onshore centers offer easier coordination with clients. “It is also possible to meet the client often to maintain alignment, or to seek or complete training on a domain or function,” explains Srivastava. “All these are more difficult to do when located remotely offshore or nearshore. Travel is expensive and time zone differences are a barrier to real-time communication.” In addition, some lower cost tier two cities have gained credibility with providers. “Smaller cities, especially in North America and Europe, are gaining maturity as service delivery destinations,” Srivastava says. “This has led to a diversifying talent pool, thus enabling faster growth of existing and new companies.” In some instances, new data security regulations mandate that data hosting and processing onshore for some clients.

Quote for the day:

"When you do things from your soul, you feel a river moving in you, a joy." -- Rumi

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