Risk Management Solutions (RMS) is the leading platform for risk-insurance modeling. One of the major challenges the company is facing on a regular basis is clients’ reluctance to move away from on-premise software applications to a cloud-based platform. The latter has several advantages that RMS is quick to point out. One of those is the data captured on which business analytics gets performed. This provides authentic insights on not only one’s own business, but in fact the entire ecosystem. This data needs to be operationalized in order for it to be of relevance to the end user. Else, disparate sources of data points will only lead to more confusion. The improvements sought were verified by RMS using precise POVs (Proofs of Value). The design and architecture of any software suite needs to be well-thought out at the earliest. Then, all open-source Big Data points need to be tapped into. The talent required is also not easily available so specific recruitment has to be done to this end.

Source:https://www.bcg.com/publications/2018/software-developer-derisked-move-cloud.aspx?linkId=48550902

Uploaded Date:16 March 2018

Technology shift is rendering several previously important human functions as redundant. The use of the internet, robotics, the cloud, machine learning, Artificial Intelligence (AI) and now Big Data have brought about a huge digital economic revolution. A professor at the Northwestern University though feels that the pace of change will be slower than that experience during the dot-com boom of the 1990s. A second economy is now on which is autonomous and virtual. An external intelligence has now been coupled to the inherent human one providing the machines and algorithms powering this virtual economy. Businesses can now leverage enormous piles of data warehousing that now resemble supersize libraries. Major tech revolutions happen about every two decades. The personal computer was the first major tech revolution in recent times, followed by the internet in the 2000s. We are at the stage of the third morphing which includes elements such as magnetic sensors, gyroscopic sensors, radar and many other sensors to measure temperature, pressure or flow, all connected via wireless networks.

Source:https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/where-is-technology-taking-the-economy?cid=other-eml-ttn-mkq-mck-oth-1712

Uploaded Date:12 March 2018

With every company in the world on the gold rush to establishing a digital infrastructure, there are two key questions grappling business leaders. One is about which model ought to be followed for its implementation. The other is about the right kind of people who must be in charge of this transition. If these questions are addressed, the wrong way, it will instead send the company on the opposite downward spiral. Digital business models differ fundamentally from earlier forms, and so need to be approached accordingly. Digital offers enormous scope for data warehousing, processing power and bandwidth. Before plunging headlong into this, the team needs to address the overall ambition of the firm. They also need to understand in which aspect do they most need to accelerate to ensure the correct implementation of company objectives. The company needs to be digitally mature in the most critical of its areas. A strong governance structure also ought to be implemented at first Digital natives such as Zappos or Spotify have been able to negotiate this strategic transition more smoothly. Some established firms too such as the Netherlands-based ING have come out of older, linear structures to become digital players on an equal footing.

Source:https://www.bcg.com/publications/2017/technology-organizing-for-digital-future.aspx

Uploaded Date:27 February 2018

Several surveys and reports have pointed out the dire loss of human jobs over the coming years due to replacement by machines. A latest study by the National Institute of Standards reckons that machine learning will actually reduce wastage by four percent and improve productivity by a complete fifth. One needs to harp back to the Wizard of Ozwhere the villainous wizard was running his empire with the help of a machine. However, this model will not be replicable in the real world as for every machine working, a human, needs to maintain it. Thus,talent recruitment will not reduce but simply shift its focus. Too much of reliance on machines leads to a tactical way of thinking, while humans will ensure the bigger picture is kept in mind by adhering to the corporate strategy. New technology needs to be aligned with work but keeping in mind the emotions of the target audience. Various method may be designed to help workers perform different functions using skills honed over the years.

Source:https://hbr.org/2018/01/the-future-of-human-work-is-imagination-creativity-and-strategy?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert&referral=00563&spMailingID=18857691&spUserID=OTY0OTMwNTk5NwS2&spJobID=1181254502&spReportId=MTE4MTI1NDUwMgS2

Uploaded Date:06 February 2018