Companies now are launching digital initiatives to expand their capabilities aimed at business efficiency.
According to the Gartner survey for CIOs last year, 2600 of them devoted 18% of budgets to digital transformation., and the number is expected to increase to 28% by 2018.
Another Gartner survey shows 95% of 2160 CIOs who took the survey expected their jobs to change or be remixed due to digitization.
technology trends such as cyber security and artificial intelligence will significantly change how CIOs do their jobs. The role of CIO will become a change leader with increased and border responsibilities and capabilities.
We have some successful stories of digital transformation, like Sprint, JetBlue and other leading organizations.
Do you know some other successful stories and how they worked?
JPMorgan Chase Chairman and CEO Jamie Dimon said “bitcoin is a “Fraud” that “won’t end well, and if people are ‘stupid enough to buy’ bitcoin, they will pay the price for it.” However, Dimon praise highly about the technology behind bitcoin. JPMorgan Chase has launched a blockchain-based system that can reduce the number of third parties to verify global payments and ultimately “cutting transaction times from weeks to hours.” The most potential of blockchain technology in banking include “speeding up financial transactions and bringing banking services to underdeveloped countries.” According to Jamie Dimon, the technology behind bitcoin is great, however, “he does not understand the value of something (like bitcoin) that has no actual value.” What is your opinion on bitcoin? Do you think bitcoin can ever be a real currency? Or do you think bitcoin and currency can co-exist?
More and more people have been wearing technology devices such as Fitbit and Apple Watch for various reasons such as tracking their health and fitness to checking email and texting friends. However, an even more disruptive technology is rising, implantables. Disruption is coming with the growing trend of implanting technologies inside the human body. Around the world, already about 30,000-50,000 people have RFID implants in their body. Some uses of these radio frequency identification implants are using your hand to unlock doors with a simple wave. With a tag that is inside a small glass cylinder the size of a grain of rice implanted into a persons body, no one will ever have to worry about losing keys or ID badges again.
Even crazier to think about is that Elon Musk has a plan on implementing Virtual Reality into people’s brains! You can start thinking about removing the large headsets and start imagining experiencing VR through your own mind. Musk points to the possibility of using neural lace, tiny mesh sensors inserted into the brain, which he believes will allow the host to be connected to a computer. If Musk’s vision turns into a reality, it will disrupt the VR headset industry because it will eliminate the need for them.
How do you guys feel about implantable technologies? Do you feel comfortable implanting a small chip or device into your body just to be able to unlock doors or as a form of identification? What other uses of implantables do you see yourself using?
Blockchain has the potential to be the most disruptive technologicalresource since the Internet. But no matter how large blockchain’s impact on the world will be in the future, it is already having an effect on many industries, including the food industry.
Walmart, the world’s largest company by revenue, recently partnered with IBM on a pilot project to use blockchain to track mangoes as they travel through the company’s supp
ly chain. Without using blockchain (the traditional way), it took Walmart six days, 18 hours, and 26 minutes to trace a packet of mangoes back to their origin. With blockchain, it took Walmart just 2.2 seconds because Walmart had each packet of mangoes individually tagged and then logged at each checkpoint along the supply chain. If there was a need to recall mangoes because some Walmart customers were getting sick from eating some of them, Walmart could almost instantaneously know where each of those packets of mangoes came from. This would allow Walmart to see if they all came from the same source. If they did, then Walmart would just have to recall mangoes from that supplier. Using blockchan to track items, especially food items, as they go through the supply chain saves Walmart time and money, and could potentially save people their lives. Do you see blockchain as being a feasible resource for companies’ to utilize? How could they best utilize this technology? With blockchain facilitating a more of a peer-to-peer economy, will there even still be a need for companies like Walmart in the future?
This week we are working on Block chain technology and Bitcoin is the word appeared a lot when we researched. Bitcoin is a digital asset which you can use it to buy merchandise anonymously. Nowadays, 1 bitcoin equal to 5694.67 dollars. Why bitcoin get so expensive?
At first, Bitcoin is different with other virtual currencies, the total number of bitcoin is very limited and scarcity. The total number is permanently limited to 21 million.
Second, Bitcoin can be use in any countries, which make Bitcoin becomes an great alternative to country’s currency. For example, The U.S. election, the British Brexit vote and heightened regulations on Chinese currency make Chinese people start considering alternative Chinese yuan.
Finally, Bitcoin makes cryptocurrencies is easier to buy now than before. “With an increase in accessibility and popularity comes an increase in demand, which the current supply of bitcoins can’t seem to keep up with it.”
Would you buy some Bitcoins as an investment?
With Block Chain technology being a buzzword in today’s technological landscape, experts believe the health care industry will be utilizing block chain technology. When the Health Insurance Portability and Accountability Act (HIPAA) was enacted in 1996, it required the U.S. Department of Health and Human Services to establish regulations to protect the privacy and security of health records. Following the implementation of HIPAA, the health care industry started to move to Electronic Health Records (EHR). EHRs are patient charts/records that are digital. They are shareable from your primary physician to your pharmacist. Block chain technology is a trusted decentralized ledger which makes it difficult to hack. With health records containing sensitive information, block chain technology has increasingly been appealing to health care professionals – especially with the influx of data breaches occurring over the past decade. Do you think the health care industry will be adopting block chain technology in the near future? How do you think block chain technology will affect the health care industry?
A recent research shows that firms which are investing in smart, automated and self-teaching systems, AKA AI, are creating jobs. In contrast to the theory or our assumption – AI will eliminate human’s jobs, most of the companies that have deployed AI-based systems said there has been no reduction in overall jobs due to AI. Also, even more companies said that deploying AI have led more jobs created, and of course, most of them are AI related. With more companies are going to proactively initiate reskilling employees with new skills to deal with the impact of AI, we as the graduating MIS students should be awarded of this opportunity. The demand of AI personnel leads the salary for data scientists and artificial intelligence experts increase significantly, and there are still a lot of vacancies. The true question for us is that how can we sharpen our skills to embrace the incoming AI era?
As our lives become more intertwined with technology and as data-breaches have become all too common, data security is more important than ever. Security systems must constantly be improved and new methods must be employed. “Crypto Anchors” is an IT architecture idea that has been technically possible for years, but has only recently gained traction. A term coined by security engineer Diogo Mónica, crypto anchoring slows down intruders attempts to steal sensitive data, essentially trapping them in digital quicksand.
The technology is built into the design of moving data between servers. It “encrypts the contents of databases with a key that’s stored on a separate, single-purpose, hardened computer known as a Hardware Security Module, or HSM,” which acts as a strict gatekeeper. When a computer in the network accesses a database, the HSM decrypts each of the records trying to be extracted and limits the rate of the decryption. Each request may only take a tiny fraction of a second, but when trying to access millions or billions of records, the time becomes significant to the intruder looking to get in and out as quickly as possible but who is stuck inside the server, vulnerable to detection. According to Mónica, “the core concept is to ensure that your data is not only encrypted, but that the only way it can be decrypted or accessed or operated on is physically in your data center.”
While not meant to replace traditional measures to keep hackers out, crypto anchoring is to be used in complement with them as a one-two punch – if the intruder can get past the hurdle, they will be slowed by the anchor. Would you feel more confident in a firm that utilizes crypto anchors to help protect your data? Could it’s use have prevented the breaches at Home Depot, Yahoo, and, most recently, Equifax?
As Larry Dignan stated in his article, “Social Security numbers were hatched as a way for US citizens to get benefits. Over time, these nine-digit identifiers became the primary way a person is identified. With Social Security numbers part of the haul from the Equifax data breach, it’s clear that these identifiers are a single point of failure. The Social Security number is the key to the fraud kingdom and perhaps the ultimate example of legacy infrastructure and processes.” Equifax has been in the news for all of the wrong reasons lately whether it was for the data breach itself or for how they handled the aftermath. If one good thing could come out of this is that there will be an increase in cyber security across the board.
During his testimony in front of the US House of Representatives Committee on Financial Services the former CEO of Equinox, Richard Smith, stated that,”We should consider the creation of a public private partnership to begin a dialogue on replacing the Social Security Number as the touchstone for identity verification in this country. It is time to have identity verification procedures that match the technological age in which we live.”
Rob Joyce, special assistant to the president and White House cybersecurity coordinator responded by saying, “I feel very strongly that the Social Security number has outlived its usefulness. Every time we use the Social Security number, you put it at risk.”
Matt Devost, Accenture security global cyber defense practice lead said,“The issue we have today is that a Social Security number is kept as a secret to authenticate access and identity,” said Devost. “We need to be moving away from that and add biometrics on top of that or the equivalent of a private wallet with blockchain.” Most countries and governments might not be using blockchain technology for identification yet, but there are a few select countries that see blockchain as the future. Estonia, often regarded as the “Blockchain Nation”, is one example of a country that has implemented blockchain technology into its government infrastructure. It is also worth noting that Estonian eHealth authority is also using blockchain technology in order to keep the medical data of citizens secure and easily accessible.
Virtual reality makes the impossible possible by tricking your eyes and brain into someplace you’re not. Virtual reality is used to describe a three-dimensional, computer generated environment which can be explored and interacted with by a person. That person becomes part of this virtual world or is immersed within this environment and whilst there, is able to manipulate objects or perform a series of actions. Goldman Sachs predicts that by 2025, VR will be a $80 billion dollar industry. A huge market that a majority of the population thinks VR is being created and used for is for video games. While VR is being created and used for video games, this isn’t the only thing VR is being used for. Many believe that VR will redefine the fundamental human experiences in areas like film, education, design, and architecture. People believe that a big way VR can be leveraged is by being a communication platform. Soon we will all be able to teleport into a virtual world together. The possibility of sitting court side at a game, studying in a classroom of students and teachers from different places, or consulting with an experienced professional just by using VR isn’t that far-fetched. These types of experiences are already starting to pop up all over the world. A surgeon in England recently live-streamed the first operation in 360-degree video, which allows medical students to view it in their headsets as though they are seeing it with their own eyes. The Department of Defense has tested Virtual Iraq and Virtual Afghanistan to treat soldiers with PTSD. This allows veterans to explore simulations of Middle East scenes in the company of a therapist to help with their problem. One major problem with VR is the possibility of losing touch with actual reality. We currently don’t know enough about the side-effects of VR, but they have the potential to be serious in the long run. However, one way or another, VR definitely has the ability to impact our lives in the near future.