Emerging data trends to keep an eye on in 2022
This year, the dominant theme is about the need to respond to changes in all relationships—the threads that form the new fabric of life.
Data – sharing made easy
· Sharing data while preserving security and privacy.
· Combining data with privacy-preserving technologies, such as fully homomorphic encryption (FHE)
and differential privacy, and you can now share encrypted data and perform computations on it’s own without having to decrypt it first.
· FHE market alone is growing at an annual rate of 7.5% and is expected to reach US$437 million in value by 2028.
· Data gains value when it is shared. Gartner predicts that by 2023, organizations that promote data- sharing will outperform their peers in most business metrics.
· Expanding ability to use external data
· “Data collaboration” to tackle common challenges and pursue mutually beneficial revenue, operational, and research opportunities.
· Acquire external data easily at the push of a button – “sharing-as-a- service” model.
The way forward:
· Opportunities to create seamless, secure data-sharing capabilities that can help monetize information assets and accomplish business goals using other people’s data.
· Continuous need for strong data governance; tagging and metadata are still necessary.
· The ability to collaborate and operate in a safe, compliant, trusted way with data is going to open up radical new possibilities for business.
· If today’s data exchange platforms become the next generation of barcodes, opportunities may arise to monetize data or open new partnerships.
Cloud goes vertical
· Industry-specific cloud solutions can enable organizations to automate manual tasks and shift their
focus to competitive differentiation.
· Cloud giants, software vendors, and system integrators are developing an array of cloud-based
solutions, accelerators, and APIs that are preconfigured to support common use cases within
industry verticals
· What’s new is that we’ve moved from procuring generic functions and libraries to the digitization
and availability of actual industry-specific business processes.
· Organizations increasingly expect cloud vendors to create “common core” solutions that address
shared needs across industries and ecosystems
· Over the next 18 to 24 months, its expected to see a growing number of organizations across
market sectors begin exploring ways that industry clouds can help them meet unique vertical
needs. Projection is that the value of the industry could reach US$640 billion within the next five
years.
Cyber AI: real defence
· The cost of cybercrime continues to climb; it’s expected to double from US$3 trillion in 2015 to
US$6 trillion by the end of 2021 and grow to US$10.5 trillion by 2025.
· Attack surface for such crimes is ever-expanding as trends such as the adoption of 5G mobile
· Using pattern recognition, machine learning algorithms, and predictive and behavioural analytics,
AI can help identify and repel attacks and automatically detect abnormal user behaviour, allocation
of network resources, etc.
· These emerging AI techniques can help human analysts focus on prevention and remediation and
developing a more resilient security posture. And as AI is adopted across the business, it can also
be leveraged to help protect valuable AI resources and combat AI- powered attacks.
Field notes from the future
Technologies that will likely dominate the digital landscape a decade or more from now:
1. Quantum technologies, which are poised to transform computing, sensing, and communications within the next decade
2. Exponential intelligence, the next generation of AI technologies that promises to understand human emotion and intent
3. Ambient computing, which will make technology ubiquitous in our work and home environments
Future of Regtech
· The global RegTech market is expected to grow to $7.90 billion in 2021 and to reach
$18.8 billion in 2025.
· The key market drivers include the rising demand to improve the quality and security of
billion in 2025.cross various jurisdictions, increasing focus towards maintaining transparency
in financial regulations, and the stringent government policies such as GDPR.
· The key market trends include the growing need to reduce the cost of compliance, regulatory
sandbox approach to support RegTech innovations (allows businesses to test innovative
propositions in the market with real consumers), and lower entry barriers for SaaS vendors.
A more streamlined, frictionless life will become a reality for many of us today, and certainly for our children.
Start living life beyond the glass right now.
Source used Deloitte
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