“Trust in online payments and consistent education to accept new ways to pay are the two major challenges that we are currently facing,” explains Doku chief operating officer, Nabilah Alsagoff. “Most Indonesians are still comfortable and pretty much rely on bank transfer and COD as their preferred method of payments.” One of Doku’s main aims is to make e-commerce systems easier to navigate for both customers and merchants, she says. The ultimate goal is to be a part of Indonesians’ daily payment habits via e-money, especially for the unbanked in a country of over 250 million where only 65 million are bank account holders. But not only is access to customers a barrier, so too are laws and regulations. Most fintech players feel that the regulation in Indonesia is still in [a] grey area.
More broadly, uncertainty over the review announced this week has unsettled Grishma and many others like her. She will have to wait until at least around August to learn her fate, but having accepted the US job offer she is not in a position to apply for positions elsewhere, including in Europe. "It's pretty debilitating," Grishma told Reuters. "I'd like to start work to mitigate the financial damage." Trump's decision was not a huge surprise, given his election campaign pledge to put American jobs first. But the executive order he signed, though vague in many areas, has prompted thousands of foreign workers already in the United States or applying for visas to work there to re-think their plans. Companies who send them also face huge uncertainty.
The systems Vegis and her team have built are hosted on Bluemix, IBM's data storage, processing, and analytics cloud. "IBM's tools have enabled us to save both time and money on programming and development," Vegis said. With the initial hurdle of developing machine learning systems and processing data already accomplished, Foris.io has been able to actually gather data instead of just planning for it. According to Vegis, cognitive computing platforms like Watson allow them to "take concept to prototype in a shorter period of time, which we know will improve our chances of securing funding." That doesn't just apply to her and Foris.io—it's a huge benefit for all tech innovators. With a probe installed, data gathering begins. The devices, capable of transmitting data several kilometers, measure moisture, pH level, salinity, temperature, and other factors
A flexible structure is just as important today as business needs are changing at an accelerating pace and it allows IT to be responsive in meeting new business requirements, hence the need for an information architecture for ingestion, storage, and consumption of data sources. One of the challenges facing enterprises today is that they have an ERP (like SAP, Oracle, etc.), internal data sources, external data sources and what ends up happening is that “spread-marts” (commonly referred to as Excel Spreadsheets) start proliferating data. Different resources download data from differing (and sometimes the same) sources creating dissimilar answers to the same question. This proliferation of data within the enterprise utilizes precious storage that is already overflowing - causing duplication and wasted resources without standardized or common business rules.
Human work will become more versatile and creative. Robots and people will work more closely together than ever before. People will use their unique abilities to innovate, collaborate and adapt to new situations. They will handle challenging tasks with knowledge-based reasoning. Machines enabled by the technologies that are now becoming commonplace – virtual assistants like Siri and Alexa, wearable sensors like FitBits and smart watches – will take care of tedious work details. People will still be essential on the factory floors, even as robots become more common. Future operators will have technical support and be super-strong, super-informed, super-safe and constantly connected. We call this new generation of tech-augmented human workers, both on factory floors and in offices, “Operator 4.0.”
Looking at payments through a global (rather that U.S.-based) lens, 2017 is not going to be a year of leap-frog innovations, but rather a year of incremental improvements focused on country-by-country wins. As mobile infrastructure continues to expand and the Internet reaches an additional two billion people in markets where access was previously nonexistent, we’re bound to see a spike in demand for online and mobile purchases. At the same time, the payment methods landscape will only become more fragmented, requiring payment platforms to optimize between multiple payment options, acquirers and processors, handle currency conversions cost-effectively and transparently, and account for numerous legislative nuances across multiple markets. Decades-old payments systems won’t cut here.
The mess comes in what the older cohort in the business see in the self-organizing abilities and discipline in the personalities of the newcomers. I personally disagree with this 'mess theory' and see it as a normal difference in perspectives between generations that were professionally made in different ecosystems, with sharp differences in tempo and culture. Actually it’s our role (as veterans in the craft) to stretch a good hand to get the newcomers professionally in shape seamlessly and gracefully. So what’s the problem, then? Well, that becomes an issue when resources to coach these hordes of not-yet-matured practitioners are not enough. Especially when we remember the sometimes insane pressures on teams and leaders to meet their schedules, leaving very little space for helping juniors outside what’s barely needed to get them 'technically productive'.
Regardless of the cause, the threat of data breaches is imminent and can have severe repercussions for organizations, especially if they are found guilty of failing to take sufficient measures to secure their data. Singapore's data protection law has one of the highest fines in Asia with each breach subject to a potential fine of S$1 million. Similarly, breaching Europe’s new General Data Protection Regulation can result in a fine of the larger of either 20 million Euro or 4 per cent of the organization’s global annual turnover. Beyond financial penalties, a data breach can cause irreversible damage to a company’s reputation as well as potentially significant damages payable in civil liability to third parties, not to mention possible personal criminal liability for senior management. Organizations should be well aware of the prevailing legal regulations that govern ever growing popular technology solutions such as cloud storage, collection, analysis, and offshore storage of customer data.
AI will be everywhere in our products, in our technologies, and in our operations. And I believe AI can bring value in each and every one of those aspects. In the Telco markets, we've been talking about the technology of AI to build what we call a network brain. The whole notion of this network brain is to help telecom operators to be more intelligent as they build, run, and manage their network. Also, we have tried to bring artificial intelligence into smartphones. Last year we launched Huawei Magic; a concept phone with AI capabilities built into it. The idea was to show how the phones would evolve from smartphones to intelligent phones. And then our network and cloud service - no matter whether it's Public Cloud or Private Cloud - we also inject the capabilities of AI into the Cloud platform to better enable enterprises.
“Companies face a terrible choice: either they turn their business into software and they accept the fact that they’re going to have rampant vulnerabilities and breaches or they let their competition win the innovation race. And everyone chooses software,” said Williams. “But as a result, we’re going to have 111 billion new lines of code in 2017. And the problem is that these legacy tools, dynamic analysis tools, static analysis tools and web application firewalls, were invented in the early 2000s. They’re absolutely incapable of scaling to the level of modern software.” This requires an approach that uses automation. Every business that has been around for more than five years will have legacy software integration challenges, which requires developing new code. Companies are constantly integrating new software platforms with older systems and a cybersecurity platform has to be able to protect all of these assets.
Quote for the day:
"Sometimes the questions are complicated and the answers are simple." -- Dr. Seuss