Jan 30 – 5 Key Stories from the Digital World

By January 30, 2019 Insight

1. Deloitte Insights – Tech Trends 2019

  • Three newer trends—digital reality, cognitive technologies, and blockchain—are growing rapidly in importance
  • AI-fueled organizations place AI, ML, and other cognitive technologies at the very center of business and IT operations, which can result in disruptive ramifications that ripple across the enterprise, with particular impact in data management, training machine learning, ethics, talent, and culture
  • Traditionally, CIO’s responsibility of keeping business-critical technology systems running has absorbed up to 70 percent of IT’s budget as well as considerable amounts of labor bandwidth. Cheaper storage, cloud, and outsourcing have lowered this budgetary outlay by 20 percent or more.

2. ROX Is the New ROI: Prioritizing Customer Experience

  • Organizations need to map consumers’ purchase journey, isolate the touch points and factors that drive experience, and then invest more in the parts of the company that will move the needle on those interactions and yield measurable results — or return on experience (ROX)
  • Investment in traditional advertising campaigns needs to be supplemented by enhancements to customer experiences along the purchase journey
  • Retailers should be asking if they are actually investing in and delivering the experience their customers want: speed and convenience

3. Swift CEO announces tie-up with blockchain start-up R3

  • Financial messaging service for the world’s biggest banks, is partnering with blockchain start-up R3
  • Firms using R3’s Corda network will be able to authorize and settle payments with the help of a gateway called GPI Link (tech to speed up cross-border payments between banks, with end-to-end tracking of transactions in real-time)
  • Swift is the leader in cross-border payments, with more than 11K institutions using its platform. It moves an estimated $200B around the world every day

4. Cryptocurrency Lending Firm Genesis Capital Processed Over $1.1 Billion in 2018

  • Despite a 44 percent price decline in Bitcoin, loan book increased to $153 million in active loans, up $20 million from the third quarter
  • Most active months to date were November and December 2018, since it reportedly saw new hedge funds and trading firms utilizing ‘spot’ borrow
  • Ethereum borrowing more than doubled since Q3 but still only accounts for less than 10% of loan book, well below the highs seen in Q1 and Q2

5. Alibaba’s alternative to the app store reaches 230M daily users

  • Stripped-down apps run within an all-in-one platform allowing users to bypass the App Store (not all native apps replaceable by mini programs)
  • Top categories of Alipay’s mini app are services that see high-frequency transactions like retail, paying for utility bills and travel booking
  • Video games, especially casual ones, embrace mini programs for their smaller file size and ability to be shared across family members and friends.