“In a tough situation, I never lose focus of the end goal” – Glory Nelson

Q. As a Woman Leader, how challenging has it been for you to succeed in your chosen field?

Challenges are part of your life. If you never fail in tough situation, you will never learn to be resilient. Women face many challenges while climbing corporate ladder – juggling between professional and personal lives, and sometimes personal aspects take precedence over professional aspirations.

In a nutshell, a woman in a leadership position is at the fulcrum of multiple see-saw and wears multiple hats, which sometimes become a very difficult balancing act. I have been fortunate enough to have very strong support of family and friends around me, who have immensely helped me in walking this tight rope.

Q. How have you been able to convert obstacles in your career path into opportunities?

In my experience, obstacles in your path are the medium to explore multiple solutions of a problem and help you in choosing the right and best one. Being in corporate world for last so many years, I have learnt the art of converting challenges into opportunities by following a simple mantra.

Whenever I am in a tough situation, I never lose focus of the end goal, and try to be calm. I always analyse the situation with bottom-up approach and think of ways to resolve it. Sometimes, I have also involved people around me, as many times they bring in different perspective to the problem.

Once you transform obstacles into opportunities you emerge out stronger, positive, and become a solution-oriented person.

Q. Tech industry is dominated by male leaders. How women can excel, assume leadership roles, and make a mark for themselves?

If you are passionate about your work, you can excel in anything you do. The secret sauce to success is a blend of passion and dedication. If women are passionate about their work, they can reach to any kind of leadership role. If we have more women role models, it will break the stereotype of dominance of male leaders in the tech industry.

However, workplaces are becoming more diverse and inclusive and organisations are trying to build the gender gap at leadership positions. More the number of females at leadership positions, the company policies will become more accommodating towards the need of women which will provide them the right kind of leverage considering multiple responsibilities they juggle at home in addition to those in the office.

Q. How can we create a culture of inclusiveness and diversity at a workplace?

To create a diverse and inclusive culture, we need to believe in the philosophy of diversity and inclusiveness. We should respect and celebrate differences in age, gender, background, and experience. The diverse workplace helps us in getting different and fresh perspectives, better teamwork, and different types of problem-solving techniques. It also helps the team to take a balanced approach in handling various situations in current hyper competitive environment.

At workplace, we should educate our people and spread awareness so that everyone understands its importance and creates a healthy work environment. The benefits of diversity and inclusiveness should be percolated amongst people through various capacity building campaigns via various channels such as digital media, print media, and through people-to-people interactions.

Also, another factor that is instrumental in creating a diverse and inclusive team is to have a set target for each year. This goal will help us in building an equilibrium and create a meaningful and diverse ecosystem.

Q. Any interesting anecdote that you would like to share that has inspired or kept you motivated in your career?

I have had a long career and have seen ups and downs in my professional journey. There have been many instances where the situation was tough and unclear, and I was in a desperate position to make things work. The story of David and Goliath has always inspired me in such situations. David was a small boy in the eyes of Goliath but he had the courage, conviction, and that he will be able to overcome Goliath. With the same conviction and quick action, he was able to win the battle. This has always inspired to stay motivated and remain calm and fearless while taking the right decisions to move further in my career and achieve goals.

Q. Which is the one-woman personality you admire the most and why? Your message to the aspiring Women Leaders?

I have been lucky to have met a lot of inspiring people in my personal and professional lives. But one person who stands tallest amongst all has been my Mother. She is a science teacher in a government school and has worked tirelessly and selflessly for so many years. She has tremendous respect for her job and worked extremely hard to ensure her students pass exams with flying colors.

As there were no target or rewards prevalent in those days, she had set her own targets to get more students pass on her subjects. She has always worked to devise innovative ways, such as giving rewards and constructing frameworks to encourage students so that they are motivated to work hard. Even today, I meet a lot of her students or parents who tell anecdotes about my mother’s passion for teaching which has helped shape life of so many kids including those from underprivileged background.

My message to all aspiring women leaders is that passion and respect for your work is key ingredient for success for a sustained period of time. Life is a marathon and not a sprint. It is critical to have above attributes to complete the marathon successfully. We operate in a very competitive and uncertain environment and without passion, it will be very difficult to sustain as we women do the difficult task of juggling between personal and professional responsibilities.

“The secret sauce to success is a blend of passion and dedication. If women are passionate about their work, they can reach to any kind of leadership role. If we have more women role models, it will break the stereotype of dominance of male leaders in the tech industry.”

“We can create opportunities only through our actions” – Binita Prasad

Q. As a Woman Leader, how challenging has it been for you to succeed in your chosen field?

While there are plenty of challenges one has to face as a female leader, there are numerous ways to overcome them. For a leadership role, one has to have a mix of strong traits, ambitions, and skills, which I believe any man or woman can hold.

Q. How have you been able to convert obstacles in your career path into opportunities?

One needs to focus on finding ways to eliminate obstacles rather than wasting time on reactions. Our response and reactions in the form of actions can only create opportunities. And it gets applied across gender.

Q. Tech industry is dominated by male leaders. How women can excel, assume leadership roles, and make a mark for themselves?

Competency & Emotional Intelligence, which I believe are in-built in women, help us create a mark for ourselves.

Q. How can we create a culture of inclusiveness and diversity at a workplace?

We should appoint more and more female workforce. I am sure the best of the lot will one day assume a leadership role in the organisation.

Q. Any interesting anecdote that you would like to share that has inspired or kept you motivated in your career?

‘To Work under equal Evaluation Parameters & Skill Competency of any Male Leader – is my career motivation.

Q. Which is one woman personality you admire the most and why? Your message to the aspiring Women Leaders?

Sudha Murthy is the one-woman personality that inspires me to lead a simple life and listen to my conscience. My message is that the beauty of a person lies in simplicity and serving mankind.

“While a female leader has to face a lot of challenges, there are numerous ways to overcome them. We need to focus on finding ways to eliminate obstacles rather than wasting time on reactions. Our response and reactions in the form of actions can only create opportunities.”

“I have always strived to identify the issues and fix them” – Aneesha Pant

Q. As a Woman Leader, how challenging has it been for you to succeed in your chosen field?

I have been blessed, right from my first job where I got to work in a small subsidiary, which was part of a large organisation with just 2 of us managing the IT setup. Co-incidentally, both of us were females in an otherwise male dominated field. During this period of late 90’s, we witnessed a lot of developments in the IT field, and with emails and internet being new concepts, I learnt a lot and had an exciting 10 years in that organisation.

Q. How have you been able to convert obstacles in your career path into opportunities?

The exposure of starting from a small setup and getting hands dirty in all aspects of technology really helped. There were days where we struggled with performance issues, migrations, and had to spend days and nights in the office to get things right and ensure no impact on business. I have always strived to identify the issues and make sure they are permanently fixed. Setting up IT infra from scratch, getting involved in new business units, and managing ups and downs of IT infra setup – all these have been a great learning bed and opportunity for me to grow.

Q. Tech industry is dominated by male leaders. How women can excel, assume leadership roles, and make a mark for themselves?

I have never really thought about it since it’s not been an impediment in my growth. There have been situations where I may have not pushed for growth due to personal or family priorities, but I don’t feel anyone else can influence your growth. It is up to us to make a mark for ourselves and not expect the society or anyone else to give you any special privileges.

Q. How can we create a culture of inclusiveness and diversity at a workplace?

Only skillset, performance, and attitude should be the benchmark for hiring and not gender or diversity.

Q. Any interesting anecdote that you would like to share that has inspired or kept you motivated in your career?

I get a lot of cold calls and marketing emails addressed as Aneesh. I believe people still have a conception that since it is a CTO position, a male would be holding this position. Hence, most of the time, I automatically get addressed as Mr. Aneesh or Mr. Pant.

Q. Which is one woman personality you admire the most and why? Your message to the aspiring Women Leaders?

Well, I admire a lot of women personalities. Having said that, my first reporting manager was a female and I learnt a lot from her.

“I don’t feel anyone else can influence your growth. It is up to us to make a mark for ourselves and not expect the society or anyone else to give you any special privileges. Only skillset, performance, and attitude should be the benchmark for hiring and not gender or diversity.”

“Every obstacle has an opportunity hidden in it” – Deena Mehta

Q. As a Woman Leader, how challenging has it been for you to succeed in your chosen field?

I had to face a lot of challenges in the early years of my career, wherein I had to put double effort just to prove my capabilities. But even after performing well, people used to look down upon me. With time, perseverance, and knowledge, I proved that I am as good as the next person.

Q. How have you been able to convert obstacles in your career path into opportunities?

Every obstacle has an opportunity hidden in it. If you can overcome the obstacle by providing an acceptable solution that cannot be discarded easily, then your progress is assured. Your mastery of the subject involved is very important.

Q. Tech industry is dominated by male leaders. How women can excel, assume leadership roles, and make a mark for themselves?

First you need a passion to understand how the technology works. There has to be a general inquisitiveness and sensitivity to everything tech around you.  Once you pay attention, then tech simply absorbs you.

Q. How can we create a culture of inclusiveness and diversity at a workplace?

A culture of inclusiveness comes from a common goal. Most organisations have top leaders entering into intellectual warfare on what is best for the business and how it should be achieved. Diversity should be encouraged and welcomed by all. A contrary view generates thinking and questioning, which can lead to the improvisation of the ideas.

Q. Any incident that you would like to share that has inspired or kept you motivated in your career?

I had a unique experience when I was trying to implement certain reforms in settlement systems of the stock exchange. I was nine months pregnant and called in a meeting that had the sole agenda of belittling me and defeating the reforms. I was grilled for 3 hours without even being told to sit. It was a proud moment for me, as I managed to take my suggestions through despite a hostile environment. I did not allow personal criticism to weaken me emotionally, and I stood for what I believed in.

Q. Which is one woman personality you admire the most and why? Your message to the aspiring Women Leaders?

Smt. Leena Malhotra, the first woman IAS officer, has inspired me a lot. After Gujarat earthquake, we worked very closely while rehabilitating the affected villages. Her patience in understanding the plight of the people was amazing. She also visualised how the misuse of money spent is possible and taught us to put a process and system in place so that greed does not eat up our contributions. Though the fund belonged to the brokers and exchange, she taught us that it must be treated as our funds and the same care and caution should be exercised while spending it.

My message is – knowledge opens all doors, and perseverance allows you to stay on. Everyone and anyone can succeed in life; you just need sensitivity to discover it.

“Culture of inclusiveness and diversity comes from a common goal. And every obstacle has an opportunity hidden in it. If you can overcome the obstacle by providing an acceptable solution that cannot be discarded easily, then your progress is assured.”

Ever Agile and Always Available – The New Banking Mandate

We all are witness to the evolution of the banking industry. Till about 2000, physical bank branches were the visible, de-facto representation of the banks, which customers most preferred. From 2000 to 2009, ATM’s took over and started co-existing with bank branches, giving a huge push to ease for doing banking any time (may not be anywhere but surely at many places).

Starting 2010 banks started going digital, opening-up avenues and channels of doing anytime banking. We can now access banking services round-the-clock, and indeed from anywhere in the world. According to National Payment Council of India, with UPI, digital transactions in India increased by 188% year-on-year in 2019.

The forthcoming five years, in the post-COVID world, will further change and evolve the way people undertake digital transactions. We are already witnessing and shall continue to witness eKYC, digital cards, Artificial Intelligence-based surveillance, compliances, and of course, more and more options for mobile-based digital payments.

At the same time, this sector is undergoing tough times, with the NPA’s and the resultant capital adequacy and liquidity issues coming in regular academic and media debates. Driven by all these challenges, the sector is witnessing consolidation of various banks, especially in the public sector to create few large- scale banks with global scales, operational efficiencies, and best technological and operating practices.

Today, both public and private sector banks invest in technology tools and platforms to offer agile, reliable, and superior solutions that will boost the customer experience. Many banks are securely migrating their infrastructure to cloud to make the user journey more and more seamless and intuitive, while maintaining the agility, speed, and scalability to launch new business services.

On the other hand, cooperative banks and thousands of smaller banks operating in hinterlands are not able to bring controls and efficiencies in their operations, and scale-up and meet up to the expectations of their much-aware young generation customers. It is simply because they are not able to invest in and adopt the same digital infrastructure which their bigger counterparts possess.

Need for agile banking

All these fast-changing market dynamics bring in the need and importance of an “Ever Agile and Always Available” banking digital infrastructure. For banks, agility generally refers to the constant development of digital banking platforms in response to fast-changing customer demand. And with regulatory changes, diversity of channels, and stiff competition from pure-play digital players, banks look at agility as a way of simplifying and creating more accountability towards customers.

As customer expectations continue to transform, banks move towards being more agile and nimble. They are transforming banking to create an integrated ecosystem for the customers by participating in their journeys. And while banks are being challenged by digital players, they are also drawing inspiration from these companies and adopting their transformation and digital disruption models.

To start with and possibly most importantly, banking institutions need to focus on the core place where their digital infrastructure stays and does all the digital magic, that is, their data center. A data center is not just a brick-and-mortar building, with a huge amount of power, cooling, physical security, and thick fiber connectivity but also all IT infrastructure resources and service layers like Cloud it brings along and delivers on an ‘As-a-Service’ model.

Besides digitalisation, consuming everything on ‘As-a-Service’ model will make sure that banks are not only scaling up or down faster but also maintaining a profitable, cost-efficient business. Banking institutions are gradually moving their workloads to the cloud for lower costs, dynamic availability and scalability of services and low-latency access. The need for highly scalable third-party data center infrastructure built on economies of scale is on the rise due to these factors since public cloud grids run in data centers and not in captive facilities.

But as you know, that is not a real-life scenario. In real life, you need to ensure that maximum juice is extracted from your CAPEX invested hardware before that gets obsolete and you get into a refresh cycle. And when you do get into that cycle, you are faced with your CEO/CFO demanding optimisation of costs and at the same time scaling up of resources to take benefits of newer business avenues or technological advancements. This makes you need to take care of running the business, avoiding any minute of downtime, and migrating from one technological environment to another.

The path to agile banking – ‘Everything-as-a-Service’   

With emerging technologies, onboarding and enhancing user experience has evolved. By harnessing AI and ML, banks can meet compliance and regulatory requirements without compromising on security and spending enormous amounts of money on emerging technologies. Solutions delivered on ‘As-a-Service’ model make these advanced technologies accessible to banks of all sizes, which could earlier be implemented only by a handful of large banks.

  • First example is the use of Video KYC-as-a-Service; wherein, at a fraction of the cost, banks can adopt this technology and start onboarding customers sitting in the remotest part of the country, thus increasing their business, improving efficiencies and compliances, and promoting all-inclusive banking.
  • Another example is of Reconciliation, which is the most critical process for any bank. Manual reconciliation is tedious and subject to errors. However, with the advent of AI and other tools, this solution is now available as a machine-driven solution. The digital technologies can be used on a pay-as-you-consume model, thus providing speed, scalability, volume, and accuracy with an agfutomated and integrated approach meeting the compliance requirements more securely while keeping costs low and making itself available to banks of all sizes.
  • The third example is of Anti-Money Laundering. With automated and AI-powered solutions, banks can do a risk modelling of a prospect, continuously monitor risks, identify suspicious transactions, and money laundering attempts. This solution can be used by various surround services like Payment systems viz. SWIFT, ACH, Mobile Money, Exchange House transactions, Treasury functions, and Demat services. This can be also be tailored to accommodate specific requirements of the different types of organisation in the BFSI domain and be consumed on a pay-as-you-go model.

Banking Compliance-as-a-Service

Yotta has partnered with IDBI Intech to offer the latter’s i-Reconciliation (i-Recon) and i-Anti-Money Laundering (i-AML) applications under ‘Compliance as-a-service umbrella. These services will address the growing challenges of regulatory compliance as mandated by RBI while keeping the operational complexities and costs low for the banks, insurance companies and NBFCs. These services will be available on Yotta Enterprise Cloud, which is highly scalable, secure, and hosted at Yotta NM1 data center.

With digitalisation and an increase in the number of transactions, be it online, via card, or ATMs, consumer protection has become essential and critical. This has led to a rise in the number of regulatory compliances for the banks and the need to meet them most efficiently. With evolving regulatory changes, the BFSI sector needs to address various operational complexities in a time-bound and cost-effective manner. The Compliance-as-a-Service model helps banks to be more agile in responding to evolving regulatory expectations in a cost-effective manner.

i-Recon application will offer an integrated reconciliation platform addressing the challenges of scalability, transaction volume, speed, and accuracy with an automated and integrated approach as required by banks and insurance companies. Similarly, i-AML will help BFSI companies to identify and combat various money laundering risks.

Cloud provides agility, but Hybrid IT Infrastructure is an ideal solution

Most optimum utilisation of resources while maintaining our fullest corporate security is what we associate with Private Cloud. And on-demand, pay-as-you-use and cost efficiencies in a dynamic usage environment is what we associate with Public Cloud.

Hence, an ideal solution is not just Hybrid Cloud, but what I call as Hybrid IT Infrastructure where colocation, hosted private cloud and public cloud co-exist, so you can choose and plan the appropriate time frames to migrate from one environment to another without any downtimes and while keeping lower overall costs, long term scalability and security posture of the organisation under constant consideration.

This ideal solution also calls for overarching and transparent governance and monitoring orchestration layer for you to track, monitor and manage the health of your physical and virtual assets on a real-time basis – with all this available to you on a straightforward subscription-based services model.

Making headway for growth

Banking has come a long way. It is important for the banks to realise that digital transformation isn’t just about offering customers online banking or providing other services digitally. They need much more in terms of 100% availability, long term scalability, and tangible reduction in costs.

Since agility is an essential means of implementing digital transformation, banks would require a massive digital infrastructure that supports their traditional banking services and newer promising services like Video KYC, AML, Reconciliation, and others that can be consumed on an ‘As-a-Service’ model. This, in turn, will help banking institutions focus on addressing customers’ needs rather than just building products and back-end technologies.

Why AI is a game changer for the banking industry?

The banking industry has always been at the forefront of adopting emerging technologies and has a strong track record for technology-led leadership. This is true in the case of AI too, which has been adopted by many banks in a variety of important functions. Today, this assumes greater significance, as the usage of online and mobile banking channels has risen significantly, and customers have cut down their branch visits in the wake of the pandemic. This has pushed banks to raise their bar for providing digital experiences, as customers expect the same experience that they have been accustomed to from digital upstarts.

With AI, banks can achieve their objectives, as this technology can truly be used to automate their processes (leading to greater efficiencies), engaging with customers and personalising experiences (leading to better customer satisfaction) and risk management. Let us now look at some critical areas in a bank where AI can make a pivotal difference.

Speeding up the process of customer onboarding

AI can make a significant difference in the way banks onboard customers. For example, when a customer wants to open a new bank account or applies for a loan, he or she has to provide a number of documents and identification proofs to the bank. The bank then has to physically scan each document to authenticate the document. This is even more applicable when a customer applies for a loan, and a bank checks bank statements, identification proofs, and other financial details to determine the credit worthiness of the customer. As these are manual activities, they are error-prone and time consuming. Additionally, as there is no real-time verification of information submitted by the customer, there is a possibility of missing or inadequate information.

In an AI-enabled eKYC platform, the entire process can be automated by using AI-driven face match and document verification algorithms. Once the process of eKYC starts, the data from the Government issued ID card and photo can be matched with the live selfie video to authenticate the customer. Data from ID cards is extracted using smart OCR and validated against government supported databases. This helps in completing the KYC in less than one minute compared to a minimum of 2-3 days that is required for customer onboarding.

AI can play a big role in reconciliation too. Today, a significant percentage of reconciliation efforts is spent on analysing transactions that already match, instead of focusing on the entries that require more analysis and investigation. AI can help in completely automating the reconciliation process and reduce the time and efforts that it takes to reconcile transactions. As the process is completely automated, there is no possibility of errors.

Raising the bar for customer experience

AI’s potential in raising the bar for customer experience is the highest in the banking industry. The most basic usage of the power of AI can be seen from the way banks have used chatbots to answer customer queries, besides customer acquisition and engagement. A study by Juniper Research in 2019 estimated that the operational cost savings from using chatbots in banking will reach $7.3 billion globally by 2023. While chatbots are now used by almost every bank, a bigger potential for AI lies in personalising experiences for customers. Considering the huge amount of data that banks have at their disposal (demographic data, transaction data, credit card spends, e-commerce transactions), banks are extremely well placed to hyper-personalise the experience for a customer.

The Boston Consulting Group estimates that a bank can garner as much as $300 million in revenue growth for every $100 billion that it has in assets, by personalising its customer interactions. For example, if a customer is paying rent of Rs 20,000 every month, then the AI model could recommend a home loan to you and show you how the EMI for the house could be a lot lesser than the rent you are paying every month. Similar recommendations can be made by the AI engine when a person crosses a certain age-threshold and suggestions can accordingly be made (health insurance, education loan, etc). AI can also understand and suggest the preferred channel that a specific customer prefers to interact with the bank – some are comfortable with email, some with telephonic calls or some could prefer to interact via chat only.

Preventing fraud

Despite huge technological advances, frauds are a common occurrence, and have only grown in scale. AI’s ability to learn and analyse each banking transaction can be used to prevent frauds. For example, if your credit card has never ever been used abroad, and if a transaction takes place on your card, then the AI system can flag this off, and automatically place a call to you to verify the transaction. If an account is being logged in at an hour that has never ever been recorded in the transaction history of an individual, then the AI system can flag this transaction to the bank.

Banks are also leveraging AI and ML for monitoring purposes. For instance, AI/ML engines are being used analyse data and then breaking them down to detect any malicious activity or presence of any compromising malware. Apart from security prioritization, AI also helps in assessing phishing websites, malicious attempts, and all other vulnerabilities.

Similarly, AI can be a big powerful asset in leading the fight against anti-money laundering. An AI powered anti-money laundering solution can monitor for example, small innocuous irregular deposits that are then transferred to a global merchant. By shifting through mountains of data and connected entities, the AI system can identify patterns that signify money laundering and provide a bank with insights into previously unknown relationships.

How can AI enable Banking-as-a-Service?

For AI to run efficiently, it needs huge amount of computational power. While HPC systems are well equipped to power AI-driven transactions, the cost is prohibitive. This is where HPC as a service can be utilized for accessing AI as a service.

This gives cost efficiencies with guaranteed performance. This requires zero CAPEX investment and can be consumed using a pay-as-you-use model. Scalability is also not an issue and can be scaled up or down as per the workloads.

Democratisation of AI is not possible today as AI is not accessible by all and is considered too costly to implement. This can be made possible by adopting Banking-as-a-Service, which is enabled by AI. All banking related services can be consumed as a service. Small banks or financial institutions that do not have access to AI powered solutions can use Banking-as-a-Service, as all these solutions are available on a pay-per-use model. Currently, the usage of AI in banking is low, primarily because of infrastructure-related costs. This is where High Performance Computing-as-a-Service can be a big catalyst for democratising the usage of AI.

Today, a bank’s competition may not strictly be a bank, and can be a pure play technology company. Technology companies who have a deeper understanding of technology and work on huge data sets are better placed to provide a better customer experience. Samsung, Google and Apple are some of the best examples that showcase this capability. The popularity of Google Pay shows how relatively new entrants with deep technology expertise can disrupt the payments space. Banks have also understood the significance of these disruptive technologies and are actively partnering or investing in startups who specialise in emerging technologies. A case in point is ICICI Bank, which has taken a stake in Tapits Technologies, a startup that enables contactless merchant onboarding using eKYC.

In the future, as more banks embrace a more digital future, it will be imperative for all banks to have an AI-first approach. Even the government has time and again emphasised that for banks to transform and fulfill India’s growing needs, they mist harness technologies like AI and Big Data. As more digital only banks enter the fray, this approach will be critical in defining their future competitiveness!

The future of enterprise IT: What the next decade holds for us

During the beginning of the year 2020, the Synergy Group had come out with a detailed review of enterprise IT spending over the last ten years. The analysis revealed that annual spending on cloud infrastructure services had gone up from virtually zero to almost $100 billion. In a recent report in December, the Synergy Group revealed that enterprise spending on cloud infrastructure services (IaaS, PaaS, and hosted private cloud services) and SaaS reached $65 billion in the third quarter, up 28% from the third quarter of 2019. Undoubtedly, COVID-19 drove changes in enterprise behavior and sped up the transition from on-premise operations to cloud-based services. These statistics reveal the unstoppable march of cloud computing as a technology and points out to the fact that the COVID-19 pandemic has only accelerated adoption by a significant percentage.

Today, even as the world waits for the vaccine to be available for the common masses, almost everything has been reset. IT infrastructure and procurement will never be the same again and will have a big impact on the next decade.

From my experience, I would like to point out key trends that I believe would be extremely important for enterprise IT in the next ten years:

1 Every company will use the cloud

The cloud’s growth has been unstoppable, as can be seen from the predictions of independent analysts. The industry estimates further suggests that cloud will be an irreplaceable component of enterprise IT in the future. Even today, the growth of almost every emerging technology depends heavily on the cloud, and is the foundational platform for AI, IoT and Analytics. While each technology can function on-premise too, it is the cloud that gives these technologies the firepower, and this is set to become more prominent in the future. Enterprise IT will be associated with cloud, and every company will use the cloud in one form or the other.

2 The edge will move to the center

It is a connected world, and the future will see an explosion of devices being connected to the Internet. A McKinsey study for example, claims that 127 new IoT devices connect to the Internet every second. Data centers will have to be built keeping this trend in mind, as organisations will look at keeping data close to the location where it is being generated. Also called as edge computing, this requires placing data center nodes as close to the sources of data and content. As more devices such as autonomous cars require real-time access and decision-making capability, it will not be feasible to transmit data all the way to a traditional cloud. With 5G on the horizon, edge computing will remain in high demand, as it ensures low latency and high speed. This is corroborated by the IDC FutureScape report, which states that by 2022, 40% of enterprises will have doubled their IT asset spending in edge locations.

3 An era of joint cloud offerings

The next decade will be defined by multi-cloud offerings, and every customer will look at having different cloud vendors for specific workloads. In 2019, the industry witnessed a landmark alliance between Oracle and Microsoft. This enables customers to migrate or run their enterprise workloads across Microsoft Azure and Oracle Cloud. Customers can have the best of both worlds, by running one part of a workload within Azure and another part of the same workload within the Oracle Cloud. This agreement heralds the arrival of an era where customers will have the ability to run applications that share data across clouds. In the future, we will see more partnerships between fierce rivals.

4 Domain specific clouds will become the norm

Like other industry software such as ERP, cloud will also highly become domain specific. An example of this trend can be seen from the recent launch of the Microsoft Cloud for Healthcare, which is designed to enhance patient engagement, empower team collaboration, and improve clinical and operational data insights to connect data from across systems to predict risk and help improve patient care and operational efficiencies. This industry-specific solution provides integrated capabilities for automated and efficient high-value workflows, and advanced data analysis functionally for structured and unstructured data so that healthcare organisations can truly transform information into insight and insight into action. Going forward, we will see the creation of highly specialised cloud, as specific industries require specialised functionalities. This is also needed in the case of regulated industries such as financial services and telecom, where companies need to comply with specific regulations as required by the authorities.

5 Rise in As-a-Service models

With cloud adoption increasing, there will be a rise in affordable ‘As-a-Service’ models for specific industries. Today, thanks to the cloud, almost every service can be offered in a virtual way. Enterprises will combine intelligent analytics with products, leading to an era of productised services. In the future, almost every machine will have the option of being serviced remotely. Availability of cheap bandwidth coupled with a rise in intelligent devices, will lead to enterprises providing data insights for their devices.

We will also see a rise in industry focused ‘As-a-Service’ models. With no limits of computational power, we will see new industry focused models emerging. For example, small banks or financial firms that do not have the financial ability to invest in emerging technologies such as AI can make use of ‘Banking-as-a-Service’ and consume services in a pay per use model. Similarly, pharmaceutical firms can make use of a service such as ‘Drug discovery-as-a-Service’ to use the technological capabilities of firms to significantly reduce the time for discovering a drug. Similarly, the manufacturing sector can use ‘Manufacturing-as-a-Service’ to reduce their costs for manufacturing. A company called 3D Hubs, for example, has built a common hub for manufacturers to share 3D printers that do not want to invest on their own. In the next few years, the adoption of ‘As-a-Service’ models will be witnessed in every sector.

6 Democratisation of AI

While AI holds huge promise for transforming every possible industry, it is limited by the huge computational power that is required to power AI systems. In 2018, OpenAI, an AI research and development firm, highlighted that that the amount of computational power required to train the largest AI models has doubled every 3.4 months since 2012. Looking at the increased demand for computational power for AI, researchers at the Massachusetts Institute of Technology, recently warned that deep learning is hitting computational limits. However, with more cloud power being available, AI will become truly mainstream. Today, thanks to the cloud, there are no limits. As AI needs more data to learn, a cloud-model can help in ingesting more data, leading to more learning. A cloud-model is also more economical, as it allows enterprises to purchase only the specific computational power they need, even if it is for a short duration.

7 Energy efficiency will be the new benchmark

In the future, energy efficiency will be a competitive benchmark for data center providers. Research firm, Gartner, estimates that power costs will increase at least 10% per year due to cost per kilowatt-hour (kwh) increases and underlying demand. Close to 70% of a hyperscale colocation data center operational expenditure is power, and as demand increases, this number is only set to rise further. From innovative cooling mechanisms to using natural gas, solar or wind energy extensively, the future will see a rise in energy related innovations, as energy efficiency becomes the new benchmark.

8 India will become the global hub for data centers

India already has a huge number of factors that will help it to position itself as a global hub for data centers. This can also be seen from the huge number of investments that this sector has received. A recent report by property consulting firm Anarock, states that India’s data centers received $977 million in private equity and strategic investments since 2008, of which nearly 40% or approximately $396 million were infused between the January-September 2020 period. The report further states that India will see an addition of at least 28 large hyperscale data centers over the next three years. The reasons are clear – India already is well known across the world as a software services powerhouse. It is also home to a large developer population. The Progressive Policy Institute (PPI), India expects the country to overtake the US as world’s largest developer population center by 2024. Data consumption is increasingly rapidly. A fast-rising e-commerce and increasing consumption for OTT services is also fueling the demand for data. When one looks at the current demand, and what it will lead to, you can visualise the huge growth that is going to come for data centers.

How businesses will benefit?

Each of the above trends points out to an era that will increasingly use data insights for improving their own efficiencies and productivity levels. For example, democratisation of AI will level the playing field between large and small players. Companies can use the ‘As-a-Service’ model to reduce the entry barriers and start experimenting with emerging technologies using the foundation of cloud. Financial or technological capability will no longer be the roadblock, and domain experts in sectors such as healthcare or manufacturing can use the potential of AI to solve some of the biggest problems concerning their industries. Simply put, there are no restrictions, and any company or individual can start experimenting with negligible costs.

Data centers have to think beyond ‘infrastructure’

Data center players will also have to be nimble and think innovatively to start offering services and solutions that are beyond the usual IaaS or PaaS offerings. For example, can data center players offer ‘High Performance Computing-as-a-Service’ to say, a small pharmaceutical company? Can data center service providers create unique co-created solutions by taking in active inputs from the community and solving known problems at a price point that they can afford? Can data center players create their own IP that helps their clients improve their energy efficiencies by a significant margin?

The future will belong to those data center companies who can provide answers to such questions or solve the challenges faced by the industry; and service providers that can scale quickly without any limits and provide intelligent outcome-based models that help their clients achieve the business objectives through a portfolio of ‘As-a-Service’ models.

The Future of Enterprise IT

Source: https://www.techcircle.in/2021/01/25/the-future-of-enterprise-it-what-the-next-decade-holds-for-us

How is the convergence of HPC and AI transforming the healthcare industry?

At the start of the year 2020, a promising development involving the use of Artificial Intelligence (AI) in detecting breast cancer was announced. Researchers from Google Health, DeepMind, Imperial College, London, the NHS, and the Northwestern University in the US, created an AI model that was able to correctly identify cancer from X-ray images with an accuracy like expert radiologists. The AI model which was trained by analysing images from close to 29,000 women has the potential to revolutionise healthcare, as it can not only reduce the probability of errors, but also alleviate the pressure on healthcare systems.

As we can see, while the potential is huge, the biggest challenge in healthcare today is the fact that solving complex problems requires vast amounts of data and extreme computational power to analyse this data. For example, in 2018, OpenAI, an AI research and development firm, estimated that the amount of computational power required to train the largest AI models had doubled every 3.4 months since 2012. Looking at the increased demand for computational power for AI, researchers at the Massachusetts Institute of Technology warned recently warned that deep learning is hitting computational limits. The researchers concluded that deep learning progress was dependent on an increase in computational ability.

In this context, the convergence of AI and High-Performance Computing (HPC) is extremely beneficial as it can lead to a win-win situation for every stakeholder in the healthcare ecosystem. HPC and AI have a symbiotic relationship and can complement each other. HPC utilises a cluster of systems working together as a cohesive unit to achieve high-performance goals. AI needs specialised hardware that supports processing of trillions of calculations per second. This is where it is perfectly suited for AI.

The costs of most traditional HPC systems are disproportionate to meet unexpected demand. To avoid these issues, healthcare firms can consider using High-Performance Computing-as-a-Service (HPCaaS), which gives cost efficiencies with guaranteed performance and requires zero CAPEX investment and can be consumed using a pay-as-you-use model. Scalability is also not an issue and can be scaled up or down as per the workloads.

GPUs – the heart of HPC

Today, HPC systems leverage modern GPUs that contain hundreds of processing units, which are capable of processing huge number of transactions per second. With the ability to run large number of processes in parallel, GPUs in HPC systems can process large data sets in less amount of time. From an AI perspective, this also allows organisations to process significantly higher volumes of data, which helps improve the AI model.

Leveraged intelligently, AI can significantly impact every healthcare segment – from predictive diagnostics to personalised treatments, which can have a big impact on drug development and clinical research. For example, today, more and more data is stored and generated. Electronic health records are available today for many people, which has allowed researchers and doctors to look at genetic information, medical history, and allergies, and understand how technology can help in making better decisions with respect to treatment.

Today, in clinical trials, the same drug is given to multiple people. However, as every human being has a different genetic approach, the ideal way should be to personalise drugs for each person. This has not been possible till date, due to the huge challenges of collecting and analysing data from a huge number of records. With AI and machine learning today, it is possible to analyse data faster than manual processes.

One of the best use cases of using AI in finding effective drugs can be seen from the recent efforts of scientists to find out possible drugs against COVID-19. Scientists at the University of California, Riverside, have used machine learning to identify hundreds of potential new medicines that could help treat COVID-19. Given the race against time to identify probable drug candidates, the scientists used machine learning techniques to screen more than 10 million commercially available small molecules from a database comprised of 200 million chemicals and identified the best probable cases for the 65 human proteins that interact with the SARS-CoV-2 proteins. The machine learning model also helped the researchers screen out toxic drugs.

This was used to create a drug discovery pipeline that could interfere with the entry and replication of the SARS-CoV-2 virus in the body. These kinds of experiments need an HPC infrastructure that can run AI algorithms. Given the time constraints in finding effective drugs against COVID-19, AI has been a game-changer.

The combined force

The combination of AI and HPC can also be used for real-time prediction of clinical interventions in intensive care units. Using real-time monitoring of vital signs of patient data such as blood pressure, heart rate and glucose levels, more precise future treatment can be undertaken. There are several other inspiring examples around the globe.

How HPC benefits Artificial Intelligence:Powered by GPUs— GPU instances parallelly process AI-based algorithms, taking off load from the CPUs to deliver analysis efficiently and faster.Data Volume – With super computational power, HPC can churn volumes of data with accuracy, thus aiding AI.Cost Efficient —HPCaaS provides a more cost-effective access to supercomputing without the need to invest or maintain the hardware. One can access HPC with pay-as-you-go pricing and avoid upfront capital costs.

Boston-based startup, FDNA, uses facial recognition techniques to identify close to 50 known genetic syndromes from the photographs of patients. The company has used cloud-based GPUs to analyse the huge amount of data received and collected from clinics and geneticists around the world and used this data to build its algorithm. Today, its algorithm is used by 70 percent of geneticists worldwide. This has become extremely useful in advancing the diagnostics for rare diseases.

Similarly, the New York University’s Langone School of Medicine has demonstrated how its team used deep learning to predict 200 ailments three months faster than traditional methods by analysing electronic health records such as X-rays, lab tests and doctor’s notes. As more and more data are ingested by AI, the better will be the accuracy.

In the future, as more remote healthcare models come into play, the availability of data in electronic forms will be huge. This will pave the way for more precise AI-enabled healthcare models, as healthcare officials use the huge data at their disposal to create intelligent algorithms that can dramatically improve the way healthcare services are delivered and consumed.

India Enterprise Cloud Survey 2020

The first edition of the India Enterprise Cloud Survey provides the latest trends and insights of Indian Enterprises journey on cloud adoption and usage. While the cloud has taken center stage today, it has been around for quite some time now. The COVID crisis has fast-tracked this and has been a serious reminder to design IT systems in a way that allows for agility, resilience, and efficiency amid disruption and fast reformation of organisational boundaries.

The external VUCA environment has been demanding an IT platform that supports businesses to innovate amid disruption, which has been relatively gradual. COVID has undoubtedly changed the pace. This research report provides exciting insights by leading CIOs and IT Heads of large and mid-sized enterprises across multiple industries.

Key Highlights of the research –

  • Cloud is mainstream today, catalysed in a big way by COVID as 77% of the enterprises plan to implement their enterprise cloud strategy over the next 12 to 18 months
  • 63% of the Indian enterprise see cloud as the key mode of infrastructure hosting in 2022 as compared to 37% in 2020
  • India Cloud Spending to grow at 15 to 17% in 2021, twice the rate of 7 to 9% at which the overall IT spending by enterprises is estimated to grow

Download Report

The India Enterprise Cloud Survey

The India Enterprise Cloud Survey reveals insights on cloud computing adoption by leading CIOs & IT Leaders across Industry.

A cloud-first approach to data protection

The year 2020 saw a spike in cybercrimes across the world. Rising unemployment forced many to turn to criminal activities. Cyberattacks increased exponentially, especially business email compromise (BEC) attacks like phishing, spear phishing, and whaling – and ransomware attacks. These attacks have resulted in data and financial losses. With most employees working from home, the threat of data theft and data exfiltration looms high.

Today, the risk of storing data on-premise or on endpoints is higher than ever. That’s why organisations are taking a cloud-first approach to data protection. This article discusses the inadequacies of on-premise, legacy infrastructure for data protection and explains why more organisations are adopting modern cloud architectures.

Threat vectors looming large

According to a report by the Group-IB, there were more than 500 successful ransomware attacks in over 45 countries between late 2019 and H1 2020, which means at least one ransomware attack occurring every day, somewhere in the world.  By Group-IB’s conservative estimates, the total financial damage from ransomware operations amounted to over $1 billion ($1,005,186,000), but the actual damage is likely to be much higher.

Similarly, in the final week of the US Elections, healthcare institutions and hospitals in the US were impacted by Ryuk ransomware. The affected institutions could not access their systems and had to resort to pen and paper operations. Life was at risk as necessary surgeries and medical treatments were postponed; patient medical records were inaccessible. Healthcare is a regulated sector and hackers know healthcare data’s value: this includes X-ray scans, medical scans, diagnostic reports, medical prescriptions, ECG reports, and lab test reports.

Today, employees across industries work remotely and log in to enterprise servers to access data. In this scenario, data exfiltration is becoming a massive challenge for organisations. A study by IBM Security says the cost of a data breach has risen 12% over the past five years and now costs $3.92 million on an average.

The crux of the issue is that data exfiltration and data theft can severely tarnish an organisation’s reputation, erode its share price, breach customer and shareholder trust, and even result in customer churn. Stringent regulatory standards and acts like HIPAA, GDPR, CCPA, Brazilian LGPD impose stiff fines and penalties that have historically made companies bankrupt or put them in the red.

Indian companies doing business with organizations in the US, Europe or elsewhere, will need to comply with the regulations defined by those nations, at an industry level. And if customer data is breached, they will be liable to pay the penalties imposed by those regulatory bodies.

India’s forthcoming Personal Data Protection Bill 2019 (which is close to being passed into law) is expected to impose similar fines as GDPR. The bill aims to protect the privacy of individuals relating to the flow and usage of their personal data.

Legacy infrastructure may not be able to comply with new regulations being introduced in an increasingly digital world. In fact, legacy could up the risk for data loss, and hence, organisations must move away from legacy infrastructure and take a cloud-first approach to data protection.

Legacy infrastructure is expensive, insecure

An organisation needs scale to succeed in today’s highly competitive business environment. Adding new customers, introducing new products and services, and timely response to market demand requires agility – to support all these the infrastructure should be able to scale up on demand.

Scaling infrastructure on-premise requires colossal investments and the TCO may not be viable in the long term. The shortage of in-house skills is another challenge. CIOs are under tremendous pressure to deliver value. The only way to scale is to embrace disruptive technologies like Cloud, Big Data Analytics, Artificial Intelligence, Machine Learning, and Blockchain.

Traditional data protection tools offered by legacy infrastructure are inadequate to protect data in distributed environments, where employees work outside the perimeter, and to secure it from sophisticated attacks like ransomware.

At the same time, the introduction of new services and innovation by enterprises results in an exponential increase in data that gets generated from multiple sources like customers, partners, employees, supply chains, and other places. And much of this data is unstructured, which poses additional data governance and management challenges. Industry regulations mandate that this data be stored for a certain period, and copies of it need to be maintained.

Some governments insist that data must be stored on servers in their country (data residency). For instance, the Indian Personal Data Protection Bill will regulate how entities process personal data and create a framework for organisational and technical measures in processing of data, laying down norms for social media intermediary, cross-border transfer, accountability of entities processing personal data, remedies for unauthorised and harmful processing.

In such a scenario, it would be expensive for an organisation to store its growing data on-premise, as legacy infrastructure is inadequate to protect this data and comply with new data protection laws. Cloud environments are more suitable as cloud service providers ensure compliance.

For all these reasons, businesses want to break free from the shackles of captive data centers and embrace a cloud-first approach for rising data protection needs. To do that, they are moving away from the investment-heavy and legacy approach to a cloud-first approach for data storage and protection.

A cloud-first approach

Forrester predicts that 80 percent of organisations are extremely likely to adopt a cloud data protection solution, as more and more businesses are going in for cloud-first strategies. This is due to critical data loss with on-premises infrastructure, lack of security and scalability, and increased spending in legacy hardware and software altogether.

As enterprises face increasingly stringent compliance regulation, cloud data protection solutions help deliver enhanced privacy capabilities for them to keep pace with all of today’s dynamic business demands and needs.

For instance, enterprises scale up their operations globally, their infrastructure can extend to multiple clouds. This results in server sprawl and siloed data, posing additional data management solutions. This is where, they need to adopt Cloud Data Protection and Management solutions that can manage and protect these sprawling environments. These cloud solutions can also secure an increasingly remote workforce and bypass stalled supply chains and traditional data centers’ limitations considering the unprecedented pandemic situation.

The cloud also offers robust resiliency and business continuity – with backup and recovery tools. Storage-as-a-Service provides a flexible, scalable, and reliable storage environment based on various storage technologies like file, block, and object — with guaranteed SLAs. Furthermore, it allows end-users to subscribe to an appropriate combination of storage policies for availability, durability and security of data that can meet various expectations on data resiliency and retention.

Backup & Recovery as a service offers an end-to-end flexible, scalable, and reliable backup and recovery environment for all kinds of physical, virtual, file system, databases, and application data. This solution further extends the richness of backup capability by using agents to interface with and do data transfer or image-based method with a combination of full and incremental backups. This combination provides an extremely high level of protection against data loss as well as simplified recovery.

Today, organisations understand the value of cloud data protection solutions, which is much more secure than traditional hardware-based architectures. They are adopting platforms to protect data where it is being created — in the cloud — from anywhere with on-demand scalability (object storage), robust compliance capabilities, and industry-leading security standards.

While cloud migration efforts have been underway for several years, it has been dramatically accelerated this year. A remote workforce, growing ransomware threats, and questions about data governance have significantly accelerated the demand for a cloud-first approach to data protection.