Financial services and real estate technology
Does the relative standing of cloud providers correlate to search keywords? For e.g. AWS is the top cloud provider and hence one would think people search for AWS the most. Is it true for all the major cloud providers? I was just curious and went to Google search to find the answers. The answer is in the graph below. In short – yes!
From PwC in 2016: Financial Services Technology 2020 and Beyond
It is 2020 and a good checkpoint.
The ten technology forces that matter: how to compete in the financial services industry in 2020 and beyond
1 FinTech will drive the new business model
2 The sharing economy will be embedded in every part of the financial system
3 Blockchain will shake things up
4 Digital becomes mainstream
5 ‘Customer intelligence’ will be the most important predictor of revenue growth and profitability
6 Advances in robotics and AI will start a wave of ‘re-shoring’ and localisation
7 The public cloud will become the dominant infrastructure model
8 Cyber-security will be one of the top risks facing financial institutions
9 Asia will emerge as a key centre of technology-driven innovation
10 Regulators will turn to technology, too
From industryweek: Don’t Rush Digital Transformation: 8 Considerations in a New Era
Readers must be familiar with the eight considerations. It is a good summary and list to keep handy.
-Focus, focus and focus
-Keep it simple, stupid
-Forget about legacy versus digital business
-Prioritize better and faster
-Address the internal typical organizational bottlenecks
-Digital opportunities start with new business models
-Monetize and leverage data
-Solve your internal inefficiencies right now
One doesn’t get to hear a lot about the cloud players outside of the big three (Amazon, Microsoft and Google). The above article from Last Week in AWS shines light on Zoom’s decision to go with Oracle Cloud over AWS or Azure (Zoom already uses AWS and Azure) for some of their workloads.
How much is at stake with digital transformation? Apparently, $2.5 Trillion dollars annually. Wow! Just to give a frame of reference, US GDP is $21 Trillion
From CNBC: $7 trillion to be invested in making work more digital by 2023
“ServiceNow CEO Bill McDermott estimated there will be $7.4 trillion invested in the digital transformation of business operations over the next three years”
“Before the pandemic, only 7% of workers had access to a “flexible workspace” benefit, or telework, according to Pew Research Center. Now 42% of workers who previously did not work from home are doing so, according to CNBC’s All-America Economic Survey”
From HBR: Why Design Thinking Works
Design thinking could be a very valuable approach in an enterprise’s digital transformation and product strategy. The good thing is enterprises of various sizes (and in various sectors) can practice it.
HBR gives a further look on Design Thinking with some great examples.
“All too often, good ideas die on the vine in the absence of people with a personal commitment to making them happen”
From HBR: Discovery Driven Digital Transformation
What’s your digital strategy? That simple question often throws the CEOs of traditional companies into a panic. They believe that digital technologies and business models pose an existential threat to their way of doing business—and of course they’re right. But the pressure they feel often leads them to make big bet-the-farm moves—and that’s usually wrong.
Cloud jargon is giving you a headache? Here’s a handy comparison from Wikipedia. Thanks to Wikipedia and the contributors
Interesting! Big tech occupies the top 4! FinServ starts at #23 with Amex followed by JP Morgan at #25!
I’ve started using this quote by Grady Booch on software architecture. This helps get the message across on the significance of architecture:
“Architecture represents the significant design decisions that shape a system, where significant is measured by cost of change”
-Grady Booch