Daily Tech Digest - October 15, 2017

Data governance stumble

Data governance involves data quality, ownership and security, metadata, and analytics processes. In most organizations, the word “governance” tends to throw off staff, who can become confused with what data governance entails in the organization and what their specific role is. In order to clear up the role of data governance in the business, it should be defined more in terms of data quality and how higher quality data can advance the efficiency of the business. High data quality should be the fundamental aim for any data governance campaign, and it should be the key area of focus. In fact, research by Gartner showed that poor data quality cost organizations an average of $8 million a year.
Challenges to the proper implementation of data governance Many businesses fall prey to spending too much time on defining a data governance model, such that they end up hindering their organization from becoming data driven.

How to shape your customer experience with big data

It’s clear that the volume of data is increasing, and shows no signs of slowing down. As such, brands will have to move beyond using data just to create internal reports to satisfy internal stakeholders; they need to start leveraging cross-departmental data to deliver insights and shape the customer experience better. This comes at the back of companies undergoing digital transformation in Asia Pacific, where the first wave of change was migration towards the cloud and expanding their digital capabilities. With the right tools, the next wave will see marketers using both public and owned data to drive measurable outcomes, and enhance customer experience through personalisation. It all sounds great, but where can companies start? Here are some big brands that have successfully managed to embrace data analytics to fuel efficiency and growth

EA - Why You Should Think About The Enterprise Continuum!

We were really thinking hard about whether TOGAF should stay in the Information Technology (IT) space versus the “enterprise” space. Most of us thinking we need to go beyond IT architecture. When we agreed to proceed in the enterprise direction many things emerged as important including thinking about services – not just IT services, but business oriented services. We thought a lot about building blocks. As a matter of fact, if you got a hold of an old version of TOGAF, you would see interesting treatment of building blocks and services, and how they would be used in the Architecture Development Method (ADM). Of course the subject of building blocks generated a need to distinguish between architecture building blocks and solutions building blocks, and their relationship. Additional discussion uncovered the observation that there were common problems across enterprises addressed by different architectures and solutions.

Innovation, Tradition, And Striking the Balance

My son turns eleven today. We are all set to celebrate as we always do – our kids love the traditions that come with birthdays, Christmas, Thanksgiving, college football, and too many other events to mention. The house is decorated exactly the same for every birthday. I’m told they love it that way. There will be a special dinner, as always. All this tradition and consistency got me thinking. My children certainly love new things and surprises: new adventures, trips to unknown places, crazy experiences. And still, for a handful of personal milestones, they seem to want- to need- something familiar and dependable. Certainly, that is to be expected. New experiences bring excitement, anticipation of something unknown, and the possibility of “total awesomeness” (which, I have to imagine, is what the kids are saying nowadays.) Those traditions, the patterns sought out by their own brains, bring them a sense of stability, safety, and comfort.

Why Marketing Needs AI

The largest costs in marketing are human-related, from people to make content at scale to running advertising programs. These costs scale upwards at a disproportionate rate to impact delivered; adding more marketers scales at best linearly, because humans only have 24 hours in a day and do any one task relatively slowly. Compare that with the capabilities of machine learning and artificial intelligence. If I have an analysis problem to solve and sufficient cloud computing infrastructure, instead of having one computer work on the problem, I simply “hire” thousands of temporary computers to instantly complete the job. Once done, those computers move onto other tasks. I could never hire thousands of people in a second and lay them off seconds later – but I can with machines. If all the tasks in marketing were ideally suited for the ways humans work, this solution wouldn’t be much of a solution at all.

Fintech: Too large to ignore, too complex to regulate

Technology-neutral regulation refers to a specific regulatory process under which rules and regulations prevent service providers from preferring one type of technology over another in offering their services, although some experts, such as Professor Matthias Lehmann of the University of Bonn, find the definition of technological neutrality to be ambiguous. While innovation used to be regarded more positively before the 2008 financial crisis, according to Arner, Patrick Armstrong, Senior Risk Analysis Officer on the Innovation and Products Team at the European Securities and Markets Authority (ESMA), pointed out that "regulations are there as a response to the market failure from 10 years ago".  He argued that, in dealing with fintech, regulators act differently, very much depending on the technology involved and the risk that it carries.

Fintech Malaysia Report 2017

Malaysia’s regulators in these few years has taken a open but cautious approach towards regulating fintech. Since the appointment of Tan Sri Muhammad Ibrahim as the new Governor of the Central Bank of Malaysia in 2016 we’ve seen several key reforms and regulations being introduced most notably was the announcement of the Malaysia’s fintech regulatory sandbox. The Fintech Sandbox is open to all fintech companies including those without a presence in Malaysia, however the prequisite is that said company must have a genuinely innovative solution that fills a gap in the market. They are not required to work with a bank but the Bank Negara Malaysia encourages it. Upon being approved to be in the sandbox the fintech companies has 12 months testing period.

Rational Agents for Artificial Intelligence

The path you take will depend upon what are the goals of your AI and how well you understand the complexity and feasibility of various approaches. In this article we will discuss the approach that is considered more feasible and general for scientific development, i.e. study of the design of rational/intelligent agents. ... There are 4 types of agents in general, varying in the level of intelligence or the complexity of the tasks they are able to perform. All the types can improve their performance and generate better actions over time. These can be generalized as learning agents. ... As the agents get complex, so does their internal structure. The way in which they store the internal state changes. By its nature, a simple reflex agent does not need to store a state, but other types do.

Can a blockchain tech revolutionize corporate deposits?

“What’s been happening over the last five years in the banking industry is banks have been reviewing customers and are looking more closely at the profitability of each client,” Aidoo said. “As a result, banks may turn away less profitable clients.” Yet Aidoo believes there is a solution: the Utility Settlement Coin, which relies on blockchain technology. ... The Utility Settlement Coin is a smart contract that is held at a central bank as collateralized cash. It lets banks accept deposits from corporations and turn some of them into settlement coins, which are really balances held at a central bank. Say there are five casinos in a small area and a gambler buy chips with U.S. dollars at a cashier window at one of them. If the casinos were all using Utility Settlement Coin, the gambler could go to any of the casinos with the same chips and they would honor them, letting the gambler exchange them for cash.

6 Industries That Could Be Forever Changed by Blockchain

The future is about to change with blockchain. A blockchain is essentially a continuously growing list of records, called blocks, which are linked and secured using cryptography. The first work on a cryptographically secured chain of blocks was described in 1991 by Stuart Haber and W. Scott Stornetta. While blockchain is still fairly new to most consumers, experts are beginning to understand that banking and payments aren't the only industries that could be affected by blockchain technology. Other industries could also be affected by this new phenomenon in the future. With every paradigm shift, there are winners and losers, and just as the internet disrupted the way we communicate, blockchain will disrupt a number of industries. The world's crypto-currency market is worth more than 100 billion dollars. Startups are already using blockchain to push transparency and trustworthiness within the digital information ecosystem.

Quote for the day:

"You grow up the day you have your first real laugh at yourself." -- Ethel Barrymore

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