More than 80% of the enterprises are expected to shift to the cloud platform by 2020. Cloud technology allows various people in an organization to access files and data in real-time, which eventually results in increased efficiency, improved agility, cost savings, and opportunities to innovate and grow. The business entities ranging from small start-ups to multi-national organizations are adopting cloud technology for their daily workloads and data sharing. Being one of the powerful technology, cloud computing and technology are innovating and emerging at a high pace. Let?s look at what it will hold in this new decade.<ol><li>Serverless Computing</li></ol>Serverless computing has ascent quite a popularity with an extensive improvement. The advantage of serverless is that it enables a developer to focus on their core product rather than managing and operating servers on cloud or on-premises. These programs are flexible and would enable organization to manage their expenses of cloud hosting. It?s predicted that by 2020 more than 20% of global enterprises would adopt serverless computing.2. Artificial IntelligenceArtificial Intelligence (AI) and Machine Learning (ML) would stay the focus for organizations across industries in 2020. The innovations in AI are giving organizations the chance to automate their processes and manage big data in the most efficient way possible. AI algorithms allow companies to handle both structured and unstructured data with great accuracy and speed. AI and ML are driving a lot of investments from various sectors of industries. According to a recent survey, 67% of the IT professionals believe that AI/ML will be a primary catalyst for cloud adoption in 2020.3. Cloud SecurityCompanies are storing consumer data, involving confidential and personal details. The breach in the system seen in 2019 made cloud security one of the primary focus for this year. Data privacy, leakage, loss, and security are the growing concern as more and more organizations are now using cloud system for their data.Apart from these, there is Edge Computing, Quantum Computing, Omni-Cloud, and Kubernetes, among others, to look forward this year.

Techfastly Team

Cloud Technology: Trends to follow in 2020

The Agile concept has taken over the traditional waterfall software methodology. The Agile software methodology enables the team to deliver faster with more exceptional quality and predictability and to respond to change faster. It has been established over the past few years and yet continues to evolve and mature.Let?s dig into the recent trends to follow:<figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/1d09de886c9e32347f2d54afa769f16b.png" class="kg-image" alt loading="lazy"><figcaption>Agile Management Trends</figcaption></figure><ol><li>Value Stream Networks</li></ol>Value stream management is the most significant emerging trend which will transform a variety of industries. Value stream mapping improves product implementation and delivery by bringing together the customer-centric and product-focused teams. It allows the team to create better products by considering customer feedback. It is an essential element for enterprises looking to reduce risks and improve continuously. The mapping also identifies and resolves redundancies, disconnects, and gaps at various levels to deliver customer outcomes.To stay in this competitive world, a business needs to transition itself from project-oriented to product-delivery model; value stream and value stream mapping is the ideal way to make that change. Agile management tools, specifically Storyteller, enables large enterprises to implement and optimize their value streams. Storyteller is a perfect product to manage work and deliver business value faster.2. Agile Product ManagementThe agile transformation works on the principle that the business owner and developers should communicate on a daily basis. Using agile tools and techniques, the product management understands and prioritizes the work based on its nature and value to the customer. It also involves regular participation and involvement of product owners and managers with cross-functional teams to benefit the partnership of IT and the business.The enterprise business agility allows a tighter feedback loop to ensure the product management recognized higher customer satisfaction by delivering the top value products.3. DevOpsDevOps work efficiently by removing the waste part from the software development lifecycle, accelerating the software deliveries. Agile and DevOps work together to improve the overall communication with the teams and further reducing software delays and failures.4. Lean Portfolio ManagementThe word Lean emphasizes on the collaboration from top-level to bottom through planning, goal measurement, and transparency. This ensures to remove the lengthy approval chains or bottlenecks, leading to faster delivery of the project. By using business agility, you have more visibility and collaboration within the organization, which allows a common vision.5. Global Outsourcing Enterprises are always looking for skilled resources with specialized, skilled and relevant expertise, making global outsourcing one of the leading trends. Cloud platform makes it easier to work with team in real-time, improving agility of the enterprise along with reduced cost, skilled resources through outsourcing, and enhanced focus on bussiness goals. An agile transformation requires a change in the mindset of every individual working in the organization. It is not as simple as learning a few sets of guidelines or vocabulary terms. No doubt, when an enterprise operates on an agile mindset, it improves. The concept can be used in all domains, including portfolio management, IT, Product management, Human resources, to name a few.

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Agile

Top 5 trends in Agile Management

The world population has grown to 7.5 billion people, and the global economy is approaching $80 trillion. The global energy sector must be facing challenges to meet the energy source demand of the growing needs and to find sustainable energy resources. The development in technologies has now allowed the world to achieve energy sustainability using many different energy sources. Let?s look at the trends which will affect the energy sector this year:Blockchain technology has recently progressed in the Energy sector. This new technology will help the energy sector with quick shutdown recoveries, lowering the bills, provide community-based energy, etc. It will also generate a network that will allow buying or selling energy without any environmental effect. The transparency will substantially improve the relationship between the businesses and the customers. The companies must invest in this emerging technology.The awareness of people about pollution and the environment in recent years has witnessed more focus on renewable energy. There have been some remarkable developments in this field to reduce the carbon footprint in the environment. Solar energy has almost replaced the coal and is cheaper too. Wind energy and water energy are also in trend. The increased demand of renewable energy from the consumer has resulted in the rapid growth of this sector. The companies should capitalize on this market quickly.The implementation of digital technology has evolved many things in various sectors. Smart cars, Smartwatches, Smart vehicles are becoming more common, increasing the focus in implementing innovative methods in the energy sector. To ensure the effectiveness of all these devices regardless of any condition, the batteries need to have extended life and output. Energy companies have started using batteries to power the grid, thus gradually refraining from the need to build expensive power plants. Though the investment is quite high, it will be cost-effective in the longer run.The use of Artificial Intelligence (AI) has made it easy to analyze a large amount of information and predict outcomes in many sectors. Energy companies require a part of a work that is repetitive and tedious, like mining. AI not only makes the process fast but also reduces the cost to the company. The predictions and recommendations provided using AI results in more accurate and informed decisions. Making investments will be a good idea in both the long-term and short-term.Smartphones will make it convenient for consumers to connect with energy provides. It will offer many benefits like real-time diagnosis and alerts about energy-savings.

Trends to look out for in 2020 if your business is in the Energy sector

It is an era of digital transformation, and digital technologies have integrated with almost every aspect of our life. Businesses have entered the digital world and created their new image through digital transformation. Over the last few years, digital transformation trends have been around IoT, Cloud, Edge Compute, AI, and others. In 2020, there will be a few newer addition on how digital transformation will impact your business. Without further ado, let?s dive into the possibilities.<figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/4dda8d57aa4bce84288356fd04254835.png" class="kg-image" alt loading="lazy"><figcaption>Digital Transformation Trends</figcaption></figure><ol><li>5G: 5G will be a reality in 2020. Most of the prominent telecommunication companies are already devoting their time and money to make 5G possible this year. Not only 5G phones; this technology will be a stepping stone to work towards smart cities, smart cars, and other potential industries where real-time data connection to IoT is needed.</li><li>WiFi 6 towards a faster future: WiFi 6 will be the next-gen of WiFi connectivity. It will allow three times faster download speed. Also, the average number of devices connected to a WiFi network, it is expected to grow exponentially in the coming years. This technology will ensure the faster connectivity in your office and home and thus increasing productivity. The high-speed connection and the 5G technology will be a boost for ACPC?s. We need to stay connected all the time, and with the possibility of full-day battery life in laptops, ACPC?s would be a talk of the market. The growing world of Digital Analytics: The digital world is a pool of data that needs to be collected, processed, and stored. Companies who are not investing in analytics might have a tough road ahead of them. The primary focus stays on the real-time processing of data and analyzing it.</li><li>Artificial Intelligence and Machine Learning: You need to churn the sea of information and data to find what you need for your business. An automated algorithm with fewer chances of human error is what AI and ML offer you. No doubt that the algorithms have made the work faster, but working on the accuracy will be the task in 2020.</li><li>Blockchain: The technology introduced itself as cryptocurrency, and with the rise in the value of bitcoins, it is undoubtedly gaining much attraction. The industries from all major sectors, including retail, healthcare, logistics, etc. are improving their processes, raising funds, and tracking the supply chain using Blockchain technology. 2020 would surely be the year when this technology takes its boom.</li><li>Conversational Augmentation: Being a part of the consumer-centric world, finding innovative ways to stay connected with the consumer is much needed. We are already familiar with the Chatbots; they are a success. The companies are now working hard over the voice user interface for consumer-business interaction. We might not hear a piece of ground-breaking news from this technology, but it might be a reality in the next few years.</li></ol>In a blink of an eye, the technology might change. It would be interesting to look forward to how these transformations will happen in 2020.

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Digital Transformation

Emerging Trends in Digital Transformation

A digital transformation is rarely a one-time adventure. With the current state of technology and learning and development in the workplace, it?s bound to become an evermore immersive experience.The current state of technology has changed recently. In the last few years, what?s known as Moore?s law has transformed so drastically that technological industries will have to find new ways to upgrade their computing power. Moore?s law was first theorized in 1965 and was named after Gordon Moore, co-founder of Intel. He hypothesized that transistors were shrinking so fast that every six months, you could fit twice as many onto a chip; his theory was updated in 1975 to doubling roughly every two years. The current drastic change will amount to that two years, turning into five years. The fall in transistor density will cause the repercussions that will be felt for years.The changing state of technology will contribute to the learning and development opportunities in the workplace. The half-life of a learned skill is approximately five years, which means that what you learned ten years ago is outdated, as is almost half of what you learned five years ago. This recent development has caused companies to overhaul how they approach learning and development. Upwards of 45% of executives believe that this change is an urgent problem. The traditional method of skill learning is that you would learn skills for your career; however, now that career has incorporated the learning process. The distinction between the traditional and modern methods of learning skills matter because the current method is central to digital transformation. Your company must provide the necessary channels for skill acquisition. Without providing the proper channels, it will be impossible to create a tech-friendly culture centered around integrating new technology as it comes into the mainstream. Continuous learning is critical for your company?s digital transformation, and the statistics reflect that many businesses are now falling behind. Only 42% of millennials believe that they aren?t acquiring the skills they need fast enough, and only 33% of workers believe that their skills are being put to good use. As for business leadership, 90% of CEOs believe that digital technology is causing disruptive change, and 70% regard their company as lacking the skills to acclimate to the changing tech world.Technology shouldn?t be viewed as an impediment to business, but as a journey towards efficiency and success. Despite the current uncertainty surrounding technological upgrades, we should embrace innovation in the workplace. Companies that learn to accept the incoming changes will be much more successful, and by creating a culture that is conducive to learning, you can better transition and reach your digital potential.

The State of Things- Technology

Fintech improves the way consumers interact with money ? from mobile payments that provide convenient cashless transactions to artificial intelligence solutions that decrease the risk of fraud.

How Technology is Shaping Consumer Finance

More investors are placing their bets on the financial technology industry since the pandemic accelerated the shift to digital services. <a href="https://www.computerweekly.com/news/252505146/Global-fintech-investments-reach-new-heights">KMPG's 'Pulse of Fintech Report</a>' reveals that global investment in financial technology reached an all-time record high of $98 billion in the first quarter of 2021. Investors believe that the digital transformations within the financial services industry are here to stay, and thanks to their capital investments, fintech companies are positioned to create better innovations faster.All of this comes at the benefit of consumers, who can now enjoy streamlined financial services through their smartphones. Fintech improves the way consumers interact with money ? from mobile payments that provide convenient cashless transactions to artificial intelligence solutions that decrease the risk of fraud.Below we've listed few ways through which technology is improving consumer finance.<h3 id="%C2%B7-automated-customer-support">? Automated Customer Support</h3>Even before the pandemic impacted people visiting physical banks, chatbots in banking were starting to gather steam. For financial institutions, having a single, dedicated chatbot solution that answers many customers' queries can significantly lower costs and increase efficiency. In addition, customers can enjoy real-time answers to their concerns, providing quicker and more positive customer service experiences.One example is <a href="https://thefinancialbrand.com/71251/chatbots-banking-trends-ai-cx/">Capital One's chatbot solution Eno</a>, a text-based banking assistant that can be contacted via bank's website, mobile app, and text messages. Eno was trained to understand how customers might ask financial questions and respond with natural speech, imitating a human. Eno can send customers alerts about transactions, frauds and notify them about any relevant subscriptions on top of responding to customer queries.<h3 id="%C2%B7-digital-only-banks">? Digital-Only Banks</h3>Though the lack of a physical branch might be problematic for some users, tech-savvy customers could find convenience in online banks.Online-only banks can cut down on the cost of managing physical branches, enabling them to offer their customers high interest rates on their deposits and lower fees. For example, the online bank Marcus by Goldman and Sachs offers savings accounts an annual percentage yield of 0.5%, four times higher than the national average. Certificates of deposit even offer APYs of 0.55% and above for fixed terms that exceed 12 months. Though digital-only banks lack a personal touch, consumers do have access to much better offers.<h3 id="%C2%B7-mobile-payments">? Mobile Payments</h3>When physical cash exchanges diminished during the pandemic, the demand for contactless payment methods grew. Mobile payment apps such as Venmo, Google Pay, Apple Pay, and Paypal enjoyed a surge in popularity last year. These apps eliminate the need for physical cash by allowing users to make transactions through their mobile devices.These digital payment methods now account for $1 trillion worth of the world's revenue. <a href="https://qz.com/1799912/apple-pay-on-pace-to-account-for-10-percent-of-global-card-transactions/">Juniper Research predicts that this number will increase</a> to $1.5 trillion within the next four years. Apple Pay currently represents about 5% of card transactions worldwide and is expected to cover 10% of all global card transactions by 2025.<h3 id="%C2%B7-alternate-payment-methods">? Alternate Payment Methods</h3>Some mobile payment apps have even begun accepting alternate methods of payment. Popular digital payment platform PayPal began rolling out cryptocurrency payment services to US customers in October 2020 and has recently extended its cryptocurrency services to users in the UK. With the cryptocurrency feature, customers can buy or sell virtual assets such as Bitcoin, Ethereum, and Litecoin. PayPal also gives users educational resources and tools for tracking real-time cryptocurrency price changes.Given the relative newness of cryptocurrencies, the general public's unfamiliarity creates a huge barrier to widespread adoption. Having easy-to-understand educational features on a platform as established as PayPal makes it easier for beginners to enter the cryptocurrency market.<h3 id="%C2%B7-credit-accessibility">? Credit Accessibility</h3>Technology is also making credit more accessible to individuals with complicated credit histories, such as young consumers or those who are considered 'credit invisible'. Petal 1 ? one of <a href="https://www.petalcard.com/blog/one-mission-two-cards-introducing-petal-1">Petal's credit cards</a> uses a more accurate cash scoring solution to effectively analyze banking and credit history to assess a client's creditworthiness.Additionally, the card comes with a mobile app designed to help clients improve their credit scores. Its features include a credit score tracker, budgeting tools, subscription management, and auto payment options. This way, customers can manage their spending while staying on top of their monthly payments, thus putting themselves on the path to financial freedom.<h3 id="%C2%B7-consumer-lending">? Consumer Lending</h3>Even loans are now more accessible through fintech solutions. Online lending resource Biz2Credit uses AI to evaluate the creditworthiness of small businesses. Their financial score simulator tool, BizAnalyzer, studies revenue, cash flow, and credit scores to generate a clear image of a company's financial health. It then uses these metrics to generate a score from 1 to 100, which can be used to determine the company's likelihood of getting business loans approved compared to industry competitors.<h3 id="%C2%B7-wealth-management">? Wealth Management</h3>Developers are also looking for ways to digitize wealth management. According to <a href="https://techfastly.com/the-future-of-wealth-management/">Barka Sheth's piece on Wealthtech</a>, modern advisory firms are using AI and machine learning to analyze client data and generate actionable investment recommendations. Rather than employing analysts, who may lag behind when it comes to market analysis, clients can seek real-time market advice from quick-thinking Robo Analysts.For example, <a href="https://ibsintelligence.com/ibsi-news/scalable-capital-secures-e150-million-in-series-e-round-led-by-tencent/">digital wealth manager Scalable Capital</a> lets customers buy cryptocurrencies, ETFs, and stocks through a Robo Advisor. Removing the "middleman" allows clients to make transactions faster while cutting down the cost of brokerage fees.<h3 id="%C2%B7-fraud-prevention">? Fraud Prevention</h3>With cyberattacks increasing as financial institutions rapidly shift toward digital services, many companies prioritize cybersecurity.In 2018, Citi Treasury and Trade Solutions partnered with <a href="https://www.finextra.com/pressarticle/76809/citi-searches-for-fraud-in-real-time-transactions-with-feedzai-machine-learning-tech">fintech startup Feedzai</a> to improve real-time risk management in their banking services. Feedzai's solutions use machine learning technology to monitor changes in client behaviour. Feedzai can detect anomalies in client transactions and alert the company before payments are processed by analyzing client patterns. These processes rely mostly on technology, so they do not slow down customer transactions allowing clients to make payments quickly, efficiently, and securely.<h3 id="ending-note">Ending Note</h3>While the shift toward digital solutions was accelerated by the temporary "new normal," the innovations created to improve financial services are here to stay. Thankfully, these industry changes have created a consumer-first landscape that makes financial services safer, faster, and easier to use.

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