Financial Services and the cloud: Accelerating the compliance journey

In the financial services industry, there is a growing interest in the cloud and its advanced capabilities to improve existing operations and innovate and transform business. Yet, when it comes to cloud adoption and implementation, there is still a lot of confusion. The most common misperception: Regulation is a barrier to the cloud.

Debunking the cloud myth

Our team at Microsoft has spent the last seven years working closely with financial services regulators and found the opposite to be true. Regulations are tech neutral to cloud computing, and our experience is that regulators are more open to cloud technology than when we started this journey years ago. That said, there is a lot of banking regulation that comes into play when using cloud services, and both banks and regulators want to get it right. Regulators are also modernizing their laws to address cloud computing.

The role of technology vendors

As banks look to third-party vendors for cloud services, our role goes beyond providing a scalable platform they can use to run and operate their business. Technology providers are also responsible for helping them understand the cloud journey; providing both financial services organizations and regulators with transparency in how they manage and operate their cloud services; and ensuring their customers have the control and security of their data to meet their compliance obligations.

Accelerating the compliance journey

As a global cloud service provider, Microsoft has made significant investments in helping the financial services industry meet and manage its regulatory responsibilities and accelerate the compliance journey.

Here are a few ways we are doing this, read full blog here:

Discover your journey in Cloud Computing career, by preparing on following courses:

Where Cloud Computing Jobs Will Be In 2019

Demand for cloud computing expertise continues to increase exponentially and will accelerate in 2019. To better understand the current and future direction of cloud computing hiring trends, I utilized Gartner TalentNeuron. Gartner TalentNeuron is an online talent market intelligence portal with real-time labor market insights, including custom role analytics and executive-ready dashboards and presentations. Gartner TalentNeuron also supports a range of strategic initiatives covering talent, location, and competitive intelligence.

Gartner TalentNeuron maintains a database of more than one billion unique job listings and is collecting hiring trend data from more than 150 countries across six continents, resulting in 143GB of raw data being acquired daily. In response to many Forbes readers’ requests for recommendations on where to find a job in cloud computing, I contacted Gartner to gain access to TalentNeuron.

Find how many Cloud Computing jobs are standing in the current market, read here:

Find your career in Cloud Computing by joining right course:

Digital Transformation and Future Workforce

Digital transformation is upon us, and every industry and every business is part of it. Change is happening fast and many, if not all, industries are being redefined. Manufacturing, especially, has huge gains to realize from this disruption, as advanced technologies like IoT, artificial intelligence (AI), machine learning, mixed reality, digital twins, and blockchain empower manufacturers to improve efficiency, flexibility, and productivity through new levels of intelligence.

Of all the technologies reshaping our industry, I would say that AI plays one of the biggest roles here in terms of the disruption—and resulting opportunity—for both our industry and our workforce. AI has made large strides in recent years and is poised to open up new types of employment opportunities. The transformational possibilities of AI for manufacturers, employees and the industry-at-large are enormous.

However, as we look to a future powered by a partnership between computers and humans, it is important that we work to democratize AI for every person and every organization – something Microsoft is deeply focused on.

Two critical data points, from recent research, to establish the enormity of change:

  • Machines complete 29% of tasks today, which is expected to go up to 71% by 2025.
  • 75 million jobs to be displaced by automation and 133 million new jobs to be created between 2018-2022.

Read full blog here:

You can join following course to improve your knowledge of how digital transformation effects the future world:

Azure Global Infrastructure

Achieve global reach and the local presence you need

Go beyond the limits of your on-premises datacenter using the scalable, trusted and reliable Microsoft Cloud. Transform your business and reduce costs with an energy-efficient infrastructure spanning more than 100 highly secure facilities worldwide, linked by one of the largest networks on earth.

Deliver services confidently with a cloud you can trust

 

 Scale globally- Reach more locations, faster, with the performance and reliability of a vast global infrastructure.
 Safeguard data- Rely on industry-leading data security in the region and across our network.
 Promote sustainability- Help build a clean-energy future and accelerate progress toward your sustainability goals.

Let Azure keep your data secure

Azure safeguards data in facilities that are protected by industry-leading physical security systems and are compliant with a comprehensive portfolio of standards and regulations.

Read the full blog here: https://azure.microsoft.com/en-in/global-infrastructure/

Join a sustainable IT future by joining the following courses:

Azure Infrastructure Specialist

Azure Developer

Technical Architect

Access training for New Azure certifications

AZ-301 Microsoft Azure Architect Design Training

Installation, Storage, and computer with Windows Server 2016 – 70-740

Networking with Windows Server 2016 – 70-741

Identity with Windows Server 2016 – 70-742

 

What is cloud computing?

Simply put, cloud computing is the delivery of computing services—servers, storage, databases, networking, software, analytics, intelligence and more—over the Internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale. You typically pay only for cloud services you use, helping lower your operating costs, run your infrastructure more efficiently, and scale as your business needs change.

Top benefits of cloud computing

  • Cost
  • Speed
  • Global scale
  • Productivity
  • Performance
  • Security

Types of cloud computing

  • Public cloud
  • Private cloud
  • Hybrid cloud

Types of cloud services:

  • IaaS
  • PaaS
  • serverless
  • SaaS

Also know more about, How cloud computing works & Uses of cloud computing,

By clicking on following links:

https://azure.microsoft.com/en-us/overview/what-is-cloud-computing/https://www.infoworld.com/article/2683784/what-is-cloud-computing.htmlhttps://azure.microsoft.com/en-in/overview/future-of-cloud/

You can improve your cloud computing knowledge by joining following course:

Uncovering the ROI in AI

Artificial intelligence is loosely defined as a broad set of technologies that think and act like people. These intelligent machines can understand, interpret, reason and engage people in a natural way, as a human would do. It’s clear from working with clients across several industries that there are different AI maturity levels. AI maturity isn’t just about the technology you use; it’s also determined by the people you have in place and the supporting business processes. Understanding what you’re doing today gives you a clear starting point, so you know where to focus your efforts.

Finding the ROI in AI

ai blog 8

In the market, there is variety in the number and types of problems that AI can solve, and it will be rare that an organization will buy or even build one AI product that will be able to solve all its problems. Instead, companies will be able to better maximize their ROI by applying different AI technologies to their existing specific business problems. Today, we see several companies finding the biggest ROI with the combination of automation and cognitive service technologies.

For example, Avanade has been working with an insurance company that began by automating rote, manual processes to prioritize claims and assign them to workflows. The company took the next step by adding cognitive services that could read all customer query tickets and understand the customer’s intent. The queries were then categorized and assigned to the right workflow. By using AI to answer more standard tickets, the company liberated people to answer more complex questions, resulting in up to 60 percent gains in efficiency and resolution time.

This example shows that you don’t need to take big steps to see positive results from AI implementations. Simply find the right process, get started and then evolve your approach to deliver business results.

Solve the problem first, then apply the right technology

While it’s easy to view AI as a single technology, it is in fact various technologies that range from automating with cognitive services, all the way to advanced analytics and deep learning to proactively solve problems.

Today, many organizations begin their AI implementation with automation, in areas with lots of manual and repeatable tasks like call centers or back office process like finance and accounting. It’s important to understand the human processes and behaviors that are driving your business and decide how AI can augment them, not replace them. Think less in terms of the technology, and more about the impact that you want AI to have on the people connected to your business – both customers and employees. This is human-centered AI – an approach that focuses on augmenting the workforce to improve customer and employee experiences.

For example, a financial services company in Europe was finding that they were losing a significant number of customers to their competitors. They engaged with Avanade to create machine learning models to better predict customer churn. Looking over a 3-month period and over 100 factors as inputs, the model was able to predict which customers were most likely to churn, and the financial services firm was able to take appropriate action and targeted messages in their next marketing campaigns, reducing the numbers of customers likely to churn by 50 percent.

Shifting to AI-first

Across almost every industry, we are seeing significant ROI for those organizations applying strategic AI technologies. Some of that is quantitative, while others are more qualitative, such as better customer and employee experiences, tracked through net promoter scores and other similar engagement measures. And while benefits are being realized, the true leading companies are beginning to determine how to apply AI more holistically outside of the siloed projects running within specific business units throughout their company.

These leaders are recognizing how to bake AI into their business, across all core functions. Stitch Fix, a leading online and personal shopping subscription service, is a great example of a model-driven company that sold almost $1B of clothing in 2017. You can see just how pervasive the models are in every element of their business. But it’s not all automation, as it’s truly a great example of human-centered AI. Their stylists were able to utilize the data and alter or override the styling the algorithm delivered. This is important because neither the person nor the algorithm can be perfect.

Every business looking to embrace AI should be clear about what data is being used and for what purposes. According to Avanade and Wakefield’s research, 89 percent of IT decision-makers say they have encountered an ethical dilemma at work caused by the increased use of smart technologies and digital automation, with 87 percent admitting they are not fully prepared to address the ethical concerns that exist in this new era. We encourage any organization working to implement AI to create a digital ethics framework that sets out how you will manage the bias that can be inherent in any AI algorithm. This includes internally built applications and purchased solutions. To help address this, Avanade recently created an ethics task force that is developing a digital ethics framework to help us internally and to guide our clients.

Leading companies that take a holistic, AI-first approach, driven by strategic business needs, will see significant ROI in their bottom line and for their shareholders.

Source: https://www.avanade.com/en/blogs/avanade-insights/artificial-intelligence/uncovering-the-roi-in-ai

Realizing the true magic of AI by delivering Transformative Experiences

It’s all about data, analytics and human-centric design

ai blog 7

Transformative user experience and intelligent action – these are the magical things that AI provides. Now that we can integrate mountains of data and process it with machine learning models, we’re starting to realize the true magic of AI. It’s most valuable when we deliver intelligence at the end point of interaction– with employees and customers – on a day-to-day basis.

And it doesn’t take in-your-face robots to make that happen. Effective AI is subtler; it’s a transparent extension of human intuition that serves to simplify interactions without being intrusive or annoying, which is accomplished with human-centric design.

AI is all around us

Let’s examine some of the ways AI is transforming the way we go about our daily lives – at work and at home.

  1. Computer vision experiences are some of the most dramatic being delivered by AI. Deep neural networks enable computers to understand images and video, and the content within them. These models are used on the edge to deliver experiences such as augmented reality.

Factory of the future. Microsoft HoloLens – a holographic computer – provides information, instructions and alerts based on the objects it recognizes so you don’t have to fumble around with a laptop or a mobile device and are free to use your hands to get your job done.

File insurance claims quickly and efficiently. Being in a car accident is stressful enough; filing an insurance claim doesn’t have to be. By reading data from photos taken with your mobile device (driver’s license, license plates and damaged cars), computer vision can recognize makes and models of vehicles and assess damage. Through intelligent automation, your claim gets filed, and tow trucks and rental cars get ordered – all automatically.

  1. Natural language processing is transforming the graphical user interface into the natural language interface through the use of chatbots, virtual agents, and intelligent search applications.

A hassle-free way to resolve computer problems. You no longer have to pick up the phone or write and respond to emails in order to open a ticket for helpdesk service. An enterprise virtual agent can understand issues, such as a broken printer, and then automatically generates a ticket. Need an update? Simply ask the virtual agent a question.

Easily find the information you’re looking for. Now you can search the contents of unstructured documents just by asking a question. Natural language understanding enables the enterprise virtual agent to understand the contents of unstructured documents, and provide you with the relevant passage of text.

  1. Speech recognition has changed the way we interact, and with whom we interact. Cortana, Siri, and Alexa have infiltrated and enhanced almost every aspect of our lives.

Cortana helps you be more efficient at work, understands your schedule and plays music for you.

Alexa orders your pizza, turns on your lights and adjusts your home’s temperature.

Siri finds a restaurant for you, guides you there and helps you find a parking spot.

Source: https://www.avanade.com/en/blogs/avanade-insights/artificial-intelligence/realizing-true-magic-of-ai