FinTech is a lucrative, yet quite saturated market. In order to stay competitive, businesses should keep track of the emerging trends and be able to capitalize on them before their competitors do.
Artificial Intelligence is currently among the most promising FinTech trends. Leading financial brands such as Capital One, MasterCard, as well as hundreds of startups have set the pace for the adoption of virtual financial advisors. If you want to stay ahead of your competition or simply explore the opportunities for AI in fintech, this article is for you.
Here is a brief overview of the existing AI-powered personal finance apps as well as some useful tips on how to develop one.
AI and Chatbots: The hottest topics of 2017 The recent shift in consumer behavior triggered a new wave of innovation across major industries. Traditional business models and strategies are being replaced by more customer-centric, personalized, data-driven approaches. While such industries as retail and travel have been paving the way for AI adoption, finance technologies are already catching up.
Namely, PWC research finds that 30% of large financial institutions are currently investing in AI. Moreover, AI-focused fintech startups have attracted overall higher investments with an average of US$1 billion in investments over the last two years.
The latter can be achieved with a complex combination of data analytics, natural language processing, and machine learning wrapped in a conversational interface. Often referred to as chatbots, such AI-powered virtual assistants, as a fintech trend, are widely used in personal finance apps.
A survey conducted by Personetics further proves the potential of this trend. Namely, three out of four financial institutions surveyed view chatbots as a lucrative investment opportunity which should be pursued within the next 1-2 years. As a result, the share of transactions handled by AI agents is expected to grow substantially in the coming years. In the sphere of personal finance, robo advisors are expected to manage about $8 trillion by 2020.
Let’s take a closer look at the major use cases for AI-powered chatbot apps in the finance industry.
Five ways AI and chatbots are reshaping financial services
1. Real-time access to bank accounts, spending insights, and tailored financial recommendations These are probably the most widely used and the most important functions a finance chatbot can perform. The examples of such products are quite numerous.
Cost and monetization model: The app is free to download and use. The company monetizes the app through partnerships and referrals.
Penny app is one of the most popular solutions in this area. By connecting it to your bank account(s), you can instantly get tailored insights into the current state of your finances, transactions history, and even forecasts.
This free to use chatbot app has a clean, intuitive interface and extremely human-like conversational skills. Moreover, Penny provides “bank-grade” security with an SSL 256-bit encryption and Touch ID authentication.
Target platforms: third-party add-on for banking apps.
Cost and monetization model: The technology is sold as a subscription-based service for banks and financial institutions.
Another outstanding example of a personal finance management chatbot is Finie. Based on the Clinc AI platform, this personal finance assistant is somewhat different from the Penny app.
Used as a smart add-on for banking apps, the tool is positioned as “a Siri for your bank account.”
The technology allows a user to access information about their financial accounts through a voice interface. Moreover, Finie has deep learning and advanced NLP capabilities, thus it is able to recognize and understand complex queries, not just standard questions.
Opportunity: Instead of simply providing access to available financial information, chatbots can apply deep insights and predictive analytics, offering sound, custom financial advice and guidance to its users. For example, instead of just alerting you when your credit score drops, it suggests ways to improve it. As Edrizio de la Cruz, co-founder and CEO of Regalii put it, “Not just predictive data but specific actions on that predictive data.”
2. Expense tracking and budgeting Another integral part of any personal finance chatbot app is the ability to keep track of your expenses so that you can plan your spending accordingly.
Target platforms: Facebook Messenger, text messages, Amazon Alexa, and Google Assistant.
Cost and monetization model: The chatbot is free to use and doesn’t sell their customers’ data. Instead, the company is planning to offer their own financial products.
Cleo handles both tasks seamlessly. This chatbot provides detailed reports about a user’s spending habits and trends, allowing them to set realistic budgeting goals. Advanced analytics allow the chatbot to make tailored recommendations on how to budget better while custom reminders and alerts help a user stay on track.
Cleo can be accessed through Facebook Messenger and integrates with Amazon’s Alexa and Google Home.
Cost and monetization model: Referrals, target offers (tailored and relevant ads).
Another personal AI assistant, Olivia, is a standalone chatbot app (currently, the open beta version is available on iOS only). Positioned as a “financial assistant that helps you stretch your paycheck,” the app focuses primarily on budgeting and smarter financial management.
A user can consult with the app when it comes to any purchase: Olivia can tell exactly how much a user can afford to spend every day/week/month (based on their budget and savings goals).
Opportunity: Most budgeting chatbots seem to fail when it comes to people with no regular income (freelancers, for example). Being able to unveil the trends in financial activity and predict/adapt to their changes is crucial for effective budgeting products in the future.
3. Smart savings Tied closely to the previous feature, the ability of an AI agent to set the user’s spendings on autopilot can also be a crucial part of a successful personal finance chatbot.
Cost and monetization model: A free 100 day trial period, afterwards – subscription-based model ($2.99 per month).
For example, Digit app connects to your bank account(s) and analyzes your income and spending data. Based on these insights into your finances, the app then automatically identifies when and how much can be safely saved (without going into overdraft). The money is safely stored in your personal Digit savings account (with a 1% annualized savings bonus). Any amount of the saved money can be withdrawn at any time with a single text query.
The startup has scored over $36 million so far from a number of leading investors, including Google Ventures.
Cost and monetization model: The app is free to use.
Chip is another finance chatbot app with a focus on savings. While the savings process is completely automated and relies on AI (similar to Digit), a user can instantly check their savings account balance, or withdraw funds with a simple chat command.
Yet, unlike Digit, Chip offers flexible interest bonuses: With every referral you can earn a 1% bonus (up to 5% in total).
Opportunity: AI-assisted overdrafts management is another opportunity for micro-saving chatbots. Notifying the users about possible overdrafts, tracking upcoming payments or pending transactions that might cause an overdraft, might be a valuable addition to your product.
4. Micro investments Many personal finance chatbot apps offer users additional ways to grow their wealth (in addition to interest bonuses on saved money). The so-called micro investments can also be set on autopilot by AI-powered agents.
Cost and monetization model: The chatbot is free to use.
An example of a savings-focused finance chatbot offering this capability is Plum, a Messenger chatbot founded by the former Head of International at TransferWise, Victor Trokoudes. The app allows a user not only to save money through automated withholdings, but to put it to work by safely investing small amounts of it on RateSetter, one of the biggest peer-to-peer lenders in the UK. Just like savings and withdrawals, its investment capability can be accessed with a single text command using a familiar Messenger interface.
The startup is quite new, yet the adoption has been impressive so far. The app was launched in January 2017 with 5,000 users in the waitlist. Ever since then, the numbers have been growing steadily by 25% month to month.
Opportunity: While the idea of putting your saved money to work is appealing, chatbots can be used to automate the “traditional” investment and portfolio management as well. By using AI to calculate the risks and recommend the right investment opportunities at the right time, you could give the users an opportunity to invest small amounts of their own money (not just the money in their savings account).
5. Payments and money transfers Similarly to transferring money to an internal savings account, some chatbot apps allow you to make peer to peer payments.
Target platforms: A third-party add-on for banking apps (KAI Banking on Mobile); A white-label solution for messengers (KAI Banking on Messaging); A consumer-facing product (MyKAI) that works with Facebook Messenger, SMS, and Slack.
Cost and monetization model: The consumer product is free to use. The product is monetized through partnerships with financial institutions.
One example of such an app is MyKAI, a chatbot based on Kasisto, an industry-specific conversational AI platform. Using Facebook Messenger, SMS, or Slack, a user can get instant access to their bank account(s) and transfer money to other users with a simple text command.
The payments are processed using the chatbot integration with Venmo.
Cost and monetization model: The chatbot is free to use.
Another product in this sphere is represented by a leading fintech startup TransferWise. The company has recently introduced its own chatbot for Facebook Messenger, the TransferWise bot.
As the company’s Head of Global Partnerships, Scott Miller, stated in the press release, “Our mission at TransferWise is to bring faster, cheaper, and more convenient international money transfers to everyone in the world. Building the TransferWise bot for Messenger is a great step in that direction”.
Opportunity: Given the growing trend for “social payments,” the chances are, most of the personal transactions will soon be handled through messaging apps. Chatbots can help users automate this process and further simplify it.
How to develop an AI-powered personal finance app: Best practices With the advances in AI technologies, smart financial assistants are expected to become an integral part of our day to day life or completely replace traditional personal financial management.
Offering a huge number of benefits such as reduced operating costs and an overall better customer experience, more financial institutions and startups will be betting on this fintech trend. If you want to join the chatbot revolution, here are several tips to consider.
Choose a proper target platform (a website add-on, a standalone mobile app, Facebook Messenger, Amazon’s Alexa, etc.) While chatbots targeting third-party apps like Messenger or Slack are easier and cheaper to build, custom chatbot apps offer more flexibility and better scalability options.
Provide personalized, human-like user experiences. Interacting with your chatbot should be as close to communicating with a real person as possible. Make sure your bot understands natural language and is simply fun and engaging to use.
Be useful. If you are offering the same features that other apps already provide, strive for a better user experience or performance. Make sure your chatbot stands out among the competition and adds real value.
Get smarter. Utilize the power of machine learning and customer data to continuously improve your product’s capabilities. The chatbot needs to keep up with and constantly adapt to the incoming information.
Prioritize security. This is a must-have for any app that deals with finances. Thus, you need to apply bank-level encryption, advanced authentication methods, and other layers of security to keep your users’ data secure.
If you want to build a finance chatbot app, finding a reliable and experienced technology provider is a must. Having worked with some some of the leading financial companies, including Western Union, we at Eastern Peak have the relevant experience and required skills to help you implement your ideas. Contact us now for a free consultation.
About Valeriia Timokhina Valeriia Timokhina is a blog editor and IT manager at Eastern Peak, a top-ranked custom software development company.
Cloud Expo - Cloud Looms Large on SYS-CON.TV
Cloud Expo 2013 East Opening Keynote by IBM
In this Cloud Expo Keynote, Danny Sabbah, CTO & General Manager, Next Generation Platform, will detail the critical architectural considerations and success factors organizations must internalize to successfully implement, optimize and innovate using next generation architectures.
Lisa Larson, Vice President of Enterprise Cloud Solutions of Rackspace Hosting Live From New York City
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Keynote: Driving Cloud Innovation: SSDs Change Cloud Storage Paradigm
Cloud is a transformational shift in computing that can have a powerful effect on enterprise IT when designed correctly and used to its full potential. Join Citrix in a discussion that centers on building, connecting and empowering users with cloud services and hear examples of how enterprises are solving real-world business challenges with an architecture and solution purpose-built for the cloud.
Go Beyond IaaS to Deliver "Anything As a Service"
Many organizations want to expand upon the IaaS foundation to deliver cloud services in all forms—software, mobility, infrastructure and IT. Understanding the strategy, planning process and tools for this transformation will help catalyze changes in the way the business operates and deliver real value. Join us to learn about the new ITaaS model and how to begin the transformation.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies.
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High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available.
In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
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Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation.
In the years since the publication of the Agile Manifesto, the conn...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, addressed this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of the ...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder.
Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads.
In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
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As we enter a new year, it is time to look back over the past year and resolve to improve upon it. In 2014, we will see more service providers resolve to add more personalization in enterprise technology. Below are seven predictions about what will drive this trend toward personalization.
IT organizations face a growing demand for faster innovation and new applications to support emerging opportunities in social, mobile, growth markets, Big Data analytics, mergers and acquisitions, strategic partnerships, and more. This is great news because it shows that IT continues to be a key stakeholder in delivering business service innovation. However, it also means that IT must deliver new innovation despite flat budgets, while maintaining existing services that grow more complex every day.
Cloud computing is transforming the way businesses think about and leverage technology. As a result, the general understanding of cloud computing has come a long way in a short time. However, there are still many misconceptions about what cloud computing is and what it can do for businesses that adopt this game-changing computing model. In this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan, Rex Wang, Vice President of Product Marketing at Oracle, discusses and dispels some of the common myths about cloud computing that still exist today.
Despite the economy, cloud computing is doing well. Gartner estimates the cloud market will double by 2016 to $206 billion. The time for dabbling in the cloud is over!
The 14th International Cloud Expo, co-located with 5th International Big Data Expo and 3rd International SDN Expo, to be held June 10-12, 2014, at the Javits Center in New York City, N.Y. announces that its Call for Papers is now open. Topics include all aspects of providing or using massively scalable IT-related capabilities as a service using Internet technologies (see suggested topics below).
Cloud computing helps IT cut infrastructure costs while adding new features and services to grow core businesses. Clouds can help grow margins as costs are cut back but service offerings are expanded.
Help plant your flag in the fast-expanding business opportunity that is The Cloud, Big Data and Software-Defined Networking: submit your speaking proposal today!
What do you get when you combine Big Data technologies….like Pig and Hive? A flying pig?
No, you get a “Logical Data Warehouse.”
In 2012, Infochimps (now CSC) leveraged its early use of stream processing, NoSQLs, and Hadoop to create a design pattern which combined real-time, ad-hoc, and batch analytics. This concept of combining the best-in-breed Big Data technologies will continue to advance across the industry until the entire legacy (and proprietary) data infrastructure stack will be replaced with a new (and open) one.
While unprecedented technological advances have been made in healthcare in areas such as genomics, digital imaging and Health Information Systems, access to this information has been not been easy for both the healthcare provider and the patient themselves. Regulatory compliance and controls, information lock-in in proprietary Electronic Health Record systems and security concerns have made it difficult to share data across health care providers.
Cloud Expo, Inc. has announced today that Vanessa Alvarez has been named conference chair of Cloud Expo® 2014.
14th International Cloud Expo will take place on June 10-12, 2014, at the Javits Center in New York City, New York, and 15th International Cloud Expo® will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
12th International Cloud Expo, held on June 10–13, 2013 at the Javits Center in New York City, featured four content-packed days with a rich array of sessions about the business and technical value of cloud computing led by exceptional speakers from every sector of the cloud computing ecosystem.
The Cloud Expo series is the fastest-growing Enterprise IT event in the past 10 years, devoted to every aspect of delivering massively scalable enterprise IT as a service.
Ulitzer.com announced "the World's 30 most influential Cloud bloggers," who collectively generated more than 24 million Ulitzer page views. Ulitzer's annual "most influential Cloud bloggers" list was announced at Cloud Expo, which drew more delegates than all other Cloud-related events put together worldwide. "The world's 50 most influential Cloud bloggers 2010" list will be announced at the Cloud Expo 2010 East, which will take place April 19-21, 2010, at the Jacob Javitz Convention Center, in New York City, with more than 5,000 expected to attend.
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Cloud Expo, Inc. has announced today that Larry Carvalho has been named Tech Chair of Cloud Expo® 2014.
14th International Cloud Expo will take place on June 10-12, 2014, at the Javits Center in New York City, New York, and 15th International Cloud Expo® will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Everyone talks about a cloud-first or mobile-first strategy. It's the trend du jour, and for good reason as these innovative technologies have revolutionized an industry and made savvy companies a lot of money. But consider for a minute what's emerging with the Age of Context and the Internet of Things. Devices, interfaces, everyday objects are becoming endowed with computing smarts. This is creating an unprecedented focus on the Application Programming Interface (API) as developers seek to connect these devices and interfaces to create new supporting services and hybrids. I call this trend the move toward an API-first business model and strategy.
We live in a world that requires us to compete on our differential use of time and information, yet only a fraction of information workers today have access to the analytical capabilities they need to make better decisions. Now, with the advent of a new generation of embedded business intelligence (BI) platforms, cloud developers are disrupting the world of analytics. They are using these new BI platforms to inject more intelligence into the applications business people use every day. As a result, data-driven decision-making is finally on track to become the rule, not the exception.
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Cloud Expo Silicon Valley All-Star Speakers Include
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This week I had the pleasure of delivering the opening keynote at Cloud Expo New York. It was amazing to be back in the great city of New York with thousands of cloud enthusiasts eager to learn about the next step on their journey to embracing a cloud-first worldl."
One of the best conferences we have attended in a while. Great job, Cloud Expo team! Keep it going."
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The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to operationalize the intelligence and how to implement a strategy to scale efforts. She pulled from her ex...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Troubleshooting a problem on a remote server, especially in production, is not an easy task. Sometimes it involves debugging the application code directly on the server.
But the production servers are usually run in a strict environment, where not all convenient developer tools are available.
In this article, you'll discover how to configure a running web server and debug your application using standard facilities provided by the Java platform.
One problem that all developers and companies struggle with is trying to decide if they should "build it" or "buy it". Software developers love to build things. That is what we do! Their natural reaction tends to lean towards building things. We are also always up for a new challenge.
There are very good reasons for building or buying software. There are also good reasons to use open source projects, which is a third option.
The rule of thumb for network security today is that there is no perimeter anymore. An outsider can easily become an insider once perimeter security is breached. Every day, attackers find new ways to breach enterprise perimeter security through ransomware, malware or phishing through social engineering.
This is not to suggest that all is lost. Rather, organizations can defeat cybercriminals, in part, by better managing what has already been put in place. As an example of what can go wrong if that doesn’t happen, consider the following story.
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be looking at some significant engineering investment.
On-demand, serverless computing enables deve...
“Why incur the expense of generating and collecting all of this IoT data if you’re not going to monetize it?”
Organizations are racing to embrace the Internet of Things (IoT) as the pundits create “visions of sugar-plums dancing in their heads.” McKinsey Global Institute released their study “The Internet of Things: Mapping the Value beyond the Hype” in June 2015 that highlighted the staggering financial value that IoT could create! (See Figure 1.)
Data Monetization! Data Monetization! Data Monetization!
It’s the new mantra of many organizations. But what does “data monetization” really mean, how do you do it, and more importantly, who in the organization owns the job of “data monetization”?
The role of Chief Data Officer (CDO) would seem to be a godsend to answer the data monetization challenge. They should be the catalyst in helping organizations to become more effective at leveraging data and analytics to power the digital transformation.
So data warehousing may not be cool anymore, you say? It’s yesterday’s technology (or 1990’s technology if you’re as old as me) that served yesterday’s business needs. And while it’s true that recent big data and data science technologies, architectures and methodologies seems to have rendered data warehousing to the back burner, it is entirely false that there is not a critical role for the data warehouse and Business Intelligence in digitally transformed organizations.
Bitcoins are a digital cryptocurrency and have been around since 2009. As a substitute for legal tender, they are becoming the rage for investors and others but because there is no government agency auditing or performing regulatory oversights, you wonder if it is the perfect breeding ground for electronic nanocrime.
Since the introduction of the Bitcoin, some competitors have emerged and the whole segment of cryptocurrencies are defined as Altcoins. Altcoins include Dogecoin, Ethereum Feathercoin, Litecoin, Novacoin, Peercoin, and Zetacoin. Some of these cryptocurrencies are considered impro...
Let's do a visualization exercise. Imagine it's December 31, 2018, and you're ringing in the New Year with your friends and family. You think back on everything that you accomplished in the last year: your company's revenue is through the roof thanks to the success of your product, and you were promoted to Lead Developer. 2019 is poised to be an even bigger year for your company because you have the tools and insight to scale as quickly as demand requires. You're a happy human, and it's not just because of the bubbly in your glass.
Now how does one turn this visualization into reality? You st...
The end of the year is a time for reflection. It’s when most of us are looking back at the choices, accomplishments, and mistakes of the year prior and setting goals to improve the following year. It’s also when businesses analyze the year’s trends and behaviors to determine necessary strategic changes to be made; however, if you aren’t analyzing the right metrics, such reflection is a useless effort.
Below is an excerpt from an article provided by Elad Rave, founder and CTO of Teridion, explaining why TTLB (Time to Last Byte) should be one of the performance metrics on your radar.
identify the sources of event storms and performance anomalies will require automated, real-time root-cause analysis.
I think Enterprise Management Associates said it well:
“The data and metrics collected at instrumentation points across the application ecosystem are essential to performance monitoring and root cause analysis.
However, analytics capable of transforming data and metrics into an application-focused report or dashboards are what separates actual application monitoring from relatively simple silo monitoring.
"Opsani helps the enterprise adopt containers, help them move their infrastructure into this modern world of DevOps, accelerate the delivery of new features into production, and really get them going on the container path," explained Ross Schibler, CEO of Opsani, and Peter Nickolov, CTO of Opsani, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
BnkToTheFuture.com is the largest online investment platform for investing in FinTech, Bitcoin and Blockchain companies. We believe the future of finance looks very different from the past and we aim to invest and provide trading opportunities for qualifying investors that want to build a portfolio in the sector in compliance with international financial regulations.
Developing mobile apps has never been an easy task. Creating a mobile app for iOS means owning strong programming skills about Objective-C or Swift and knowing their APIs. Android-based apps are not so different: you have to know Java and the Android Platform and its API.
The learning curve is not fast and it includes how to create nice and interactive user interfaces, connecting embedded features like GPS, camera, showing maps, images and so forth.
How much does it cost to make an app is almost as popular a question as it is confusing.
No one tries to learn the exact costs of, say, making a movie: people realize that there’s an overwhelming amount of variables involved on which they depend.
But almost every day a new inquiry is posted on a tech forum, Quora, or Reddit as to how much it’d take to build a mobile business app.
Cavirin Systems has just announced C2, a SaaS offering designed to bring continuous security assessment and remediation to hybrid environments, containers, and data centers. Cavirin C2 is deployed within Amazon Web Services (AWS) and features a flexible licensing model for easy scalability and clear pay-as-you-go pricing.
Although native to AWS, it also supports assessment and remediation of virtual or container instances within Microsoft Azure, Google Cloud Platform (GCP), or on-premise. By drawing on a comprehensive library of curated industry guidelines, control frameworks, and best practi...
The benefits of automation are well documented; it increases productivity, cuts cost and minimizes errors. It eliminates repetitive manual tasks, freeing us up to be more innovative. By that logic, surely, we should automate everything possible, right? So, is attempting to automate everything a sensible - even feasible - goal? In a word: no.
Consider this your short guide as to what to automate and what not to automate.