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In todays digital-first economy, enterprise architecture must also evolve from a control function to an enablement platform. This transformation requires a fundamental shift in how we approach technology delivery moving from project-based thinking to product-oriented architecture. The stakes have never been higher.
The past decade in IT has been all about digitaltransformation. Transformations once envisioned to be a two- or three-year journey, to catch up or get ahead, have become a continuous journey with no end in sight. It’s no longer sufficient to pursue after-the-fact transformations.
The analyst reports tell CIOs that generative AI should occupy the top slot on their digitaltransformation priorities in the coming year. Despite all that, CIOs should add generative AI initiatives to the much longer secondary list of transformation programs. Luckily, many are expanding budgets to do so. “94%
Digitaltransformation initiatives, for the most part, offer significant advantages—enhancing efficiency, agility, and innovation across the business. As IT landscapes and software delivery processes evolve, the risk of inadvertently creating new vulnerabilities increases.
Digitaltransformation and climate change initiatives have similarities despite having different foci. Digitaltransformation focuses on integrating digitaltechnologies into all business areas, fundamentally changing how the organisation operates and delivers value to customers.
Since 1998, the brand has evolved and grown in step with technology, and today, the size of its network and consumer use has made it a household name in digital payment systems. Initially, the company emerged from x.com and Confinity as a crypto company, developing P2P payments and using PalmPilot’s Beam technology.
Karen Higgins-Carter, previously CIO of Webster Bank, joined Gilbane just over a year ago as CDIO with the responsibility of digitallytransforming this 153-year-old business. We’re in an industry that is ripe for transformation,” says Higgins-Carter, pictured above, center. My team is very proactive and customer-focused.
Data poisoning and model manipulation are emerging as serious concerns for those of us in cybersecurity. Attackers can potentially tamper with the data used to train AI models, causing them to malfunction or make erroneous decisions. Theres also the risk of over-reliance on the new systems.
Set clear, measurable metrics around what you want to improve with generative AI, including the pain points and the opportunities, says Shaown Nandi, director of technology at AWS. This data suggests change management efforts are lagging technology efforts at many organizations.
Enterprise architecture (EA) and business process (BP) modeling tools are evolving at a rapid pace. They are being employed more strategically across the wider organization to transform some of business’s most important value streams. Regulatory Compliance Through Enterprise Architecture & Business Process Modeling Software.
Moreover, undertaking digitaltransformation and technology modernization programs without an architect can lead to delays, technical debt , higher costs, and security vulnerabilities. On the one hand, enterprise architects play a key role in selecting platforms, developing technical capabilities, and driving standards.
Caldas joined me for a recent episode of the Tech Whisperers podcast , where she opened up her leadership playbook and discussed what it takes to be a truly innovative, tech-forward company, one that leverages technology to gain first-mover advantage. Monica Caldas: I always think of technology as having a defensive and an offensive side.
DigitalTransformation. Data Security & RiskManagement. Innovation Management. As we move into recovery mode, organizations are assessing the processes, systems and technologies that will help them assimilate to the new normal and thrive post-pandemic. DigitalTransformation.
Episode 2: AI enabled RiskManagement for FS powered by BRIDGEi2i Watchtower. AI enabled RiskManagement for FS powered by BRIDGEi2i Watchtower. Today the Chief Risk Officers(CROs) struggle with the critical task of monitoring and assessing key risks in real time and firefight to mitigate any critical issues that arise.
Until recently, technology was often seen as a mere expense rather than a catalyst for innovation and business growth. We envisioned harnessing this data through predictive models to gain valuable insights into various aspects of the industry. While this perception persists in many organizations, a shift is underway.
As a digitaltransformation leader and former CIO, I carry a healthy dose of paranoia. Call it survival instincts: Risks that can disrupt an organization from staying true to its mission and accomplishing its goals must constantly be surfaced, assessed, and either mitigated or managed.
These terms are fundamentally tied predominantly to matters involving digitaltransformation as well as growth in companies. Here are a few of the advantages of Big Data in the banking and financial industry: Improvement in riskmanagement operations. In this modern age, each business entity is driven by data.
In a world where agility and innovation are highly valued, speed is a critical factor for success.COVID-19 forced many businesses to radically change their business models – or re-evaluate their business processes – shifting the focus of enterprise architects. Priority 3: RiskManagement – Security and Compliance.
Although AI, machine learning, and generative AI — the more recent entrant in the space — are not new, they are becoming more mature, mainstream technologies. Those projects include implementing cloud-based security, anti-ransomware, and user behavior analytics tools, as well as various authentication technologies. Foundry / CIO.com 3.
Ask IT leaders about their challenges with shadow IT, and most will cite the kinds of security, operational, and integration risks that give shadow IT its bad rep. That’s not to downplay the inherent risks of shadow IT. Following are seven steps to guide this transformation for competitive advantage.
Many IT teams use agile methodologies to iteratively deliver feature-rich releases, improve capabilities, address technical debt, and experiment with emerging technologies. Their comments offer insights as to what to do if your teams are “doing agile” but aren’t agile enough to deliver digitaltransformation results.
I am the future of our business” sounds a bit megalomaniacal, and “I manage the technology function” does not begin to do justice to the impact of your work. Since my team and I spend all day every day helping companies define their technology leadership needs, I have a vested interest in creating some clarity around the CIO role.
Modern EA strategies now extend this philosophy to the entire business, not just IT, to ensure the business is aligned with digitaltransformation strategies and technological growth. Bizzdesigns asked respondents what IT benefits their EA program currently delivers and the top response was improved IT investment decisions.
That move, in turn, boosts the company’s automation, analytics, and artificial intelligence goals by delivering the high-quality data that those technologies crave — thereby improving both decision-making capabilities and user experiences. “We Corporate and IT strategy are one, and technology is the tool to deliver strategic objectives.
Despite digitaltransformation being a highly effective way to further develop the long-term business model, it can be a very drawn-out and arduous process. It also means some individual cloud projects fail, there’s been a change of provider, or there’s some disillusionment regarding costs of new cloud operating models.
Generative AI represents the next generation of this technology, and we are currently working on several ways we can effectively leverage it — both in our products and in our business.” As exchanges were modernizing, they looked at the cost benefit and realized it was better to buy Nasdaq’s technology,” Peterson says.
Determining the right mix of technologies and methodologies to support an entire organization can be overwhelming – and can keep IT leaders up at night. An astounding 93% of respondents noted they strongly agree with the sentence, “I believe my organization needs to embrace a hybrid infrastructure model that spans from mainframe to cloud.”
The financial services industry is undergoing a significant transformation, driven by the need for data-driven insights, digitaltransformation, and compliance with evolving regulations. Regulation and risk are a big focus for financial institutions.
Businesses are looking for tech pros with highly specialized skills, as they embrace digitaltransformation and increasingly rely on technology for core business. As organizations across every industry take on digitaltransformation, having project managers to help lead IT projects is a top priority.
billion, could not predict the technological disruption that Netflix would drive. Similarly, while technological adoption by enterprises is a continual process, the pandemic has accelerated this process. Digital disruption is changing the way services are rendered and consumed. Technologies will be bimodal. It was ironic.
The challenge is formalizing that in terms of people, process, and technology. Automation can help to manage the approval, auditing, and enforcement aspect of these emerging rules, though organizations must pay attention to new legislation that emerges when new sovereignty regulations are passed. Prioritize your investments.
The senior vice president and chief information and strategy officer at National Life Group, has spent years executing a technology roadmap to modernize the insurance company. For CIOs, understanding the business is table stakes — now we’re expected to change the business, not just technology.”
As chief digital officer of Kotak Mahindra Bank, Deepak Sharma has been instrumental in driving the bank’s digitaltransformation, future-ready initiatives, and business model innovation strategies. Why and how did you decide to get into technology? Banking is becoming more like technology firms.
But HPC can also be used to advance more traditional business outcomes — from fraud detection and intelligent operations to digitaltransformation. The challenge: making complex compute-intensive technology accessible for mainstream use. HPC is everywhere, but you don’t think about it, because it’s hidden at the core.”
Bank holding company Ally Financial is determined to stay at the cutting edge of technology in the financial industry. Today, that means leveraging gen AI to transform its business. came to the rescue because it had the ability and controls to effectively and safely use all these large language models, he says. Allys answer?
With the merging of operational efficiency and embracing new technologies, today’s CIOs are under increasing pressure to do more with less and become both technologists and business leaders, says Sunny Azadeh, CIO at digital services company GlobalLogic. “In
As a disruptive technology, it’s being felt in terms of both its magnitude and frequency of change. One of the unusual challenges with gen AI as a technology, however, is it’s currently in mainstream adoption yet still at the peak of the hype cycle. In this regard, gen AI is no different from other technologies.
Discovers implementation is unique in that it operates its OpenShift platform in AWS virtual private clouds (VPC) on an AWS multi-tenant public cloud infrastructure, and with this approach, OpenShift allows for abstraction to the cloud, explains Ed Calusinski, Discovers VP of enterprise architecture and technology strategy.
CIOs should also weigh in on roles and responsibilities and oversee defining a governance model to avoid overloading individuals or ending up with responsibility gaps. Introducing technologies without any constraints can increase technical debt and fragility,” states Google Cloud’s DORA research program on empowering teams to choose tools.
Additionally, related issues during use are risk of hallucinations and prompt engineering. Exploiting technology vulnerabilities. Additionally, it’s paramount within the financial services sector to ensure responsible AI and adherence to regulatory guidance for modelrisk.
It provides a visual blueprint, demonstrating the connection between applications, technologies and data to the business functions they support. In the age of data-driven business, the most common EA use cases are: DigitalTransformation. Data Security & RiskManagement. Think City Planning. Data Governance.
It seems anyone can make an AI model these days. Even if you don’t have the training data or programming chops, you can take your favorite open source model, tweak it, and release it under a new name. According to Stanford’s AI Index Report, released in April, 149 foundation models were released in 2023, two-thirds of them open source.
Gone are the days of the CIO being a back-office IT cost manager,” declares Chris Scheefer, vice president of intelligent industry at technology services and consulting firm Capgemini Americas. Today’s CIO must adapt and become a business strategist, a digital innovator, and an orchestrator for business.”.
Developers, data architects and data engineers can initiate change at the grassroots level from integrating sustainability metrics into data models to ensuring ESG data integrity and fostering collaboration with sustainability teams. Highlight how ESG metrics can enhance riskmanagement, regulatory compliance and brand reputation.
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