When people think of blockchain, cryptocurrencies such as Bitcoin are probably the first thought that springs to mind. Where blockchain, with Bitcoin, has caused disruption in the financial sector, blockchain has the power to disrupt and solve problems in multiple other sectors, such as Marketing & Advertising. Transparency, trust and battling counterfeiters.
For the majority of people calling insurance companies isn’t the most favoured activity. The insurance industry is one of the least innovative areas for customer experience. This is changing however and artificial intelligence (AI) is now playing a great role in this change. AI technology has the potential to disrupt the insurance industry and revolutionise consumer experience.
Dog collars to toasters are connected as part of the Internet of Things (IoT), with experts predicting that by 2020 more than 50% of new businesses will run on the IoT. However, cyber security and privacy are the biggest challenges for IoT, collecting large amounts of personal identifiable information. As soon as some financial benefit from hacking smart devices appears, cyber criminals will find a way to take advantage of it.
The tech industry in the UK has issued a warming to ministers that a transition away from EU data protection standards following Brexit will damage the UK’s status as a technology hub. Amid the growing misunderstanding amongst Brexiteers that diverging from the tough EU data protection laws will give Britain a competitive advantage compared to other EU states in this fast growing sector.
WHOIS, one of oldest tools on internet for verifying real identities, is at risk of being killed due to tough data protection with new GDPR regulations. The General Data Protection Regulation (GDPR) comes into effect in May and is an attempt to strengthen European data protection. However, it is thought that some of the new rights and responsibilities will conflict with existing technologies that have provided transparency on the internet.
UK government is under increasing pressure to confirm whether BREXIT data flow between the UK and EU will be allowed to remain uninterrupted post-Brexit. Lack of even initial negotiations on data, now the lifeblood of the digital economy representing hundreds of billions of pounds of annual trade, raising concerns that the UK focus on tech in its post-Brexit plans, may run into problems if it can’t retain access to or process EU data.
Many have labelled the rise of Artificial Intelligence (AI) as a new type of industrial revolution. AI has the potential to improve productivity across a range of sectors, whilst lowering costs. However, there are risks of AI, similar to any technology that is not adequately managed or secured. The criminal network has been improving this capability for years through the use of botnets, and AI brings with it a new range of cyber security risks.
The digital economy now contributes approximately £97 billion a year to the UK economy and is attracting a significant amount of investment each year. It was very important that the technology sector was included in the sampled population for the questionnaire. The survey aimed to determine what the current use of the cloud is within this industry and additionally what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
Over recent months IBM has urged the government to consider the use of blockchain as a way of saving time, money and averting risk. IBM has stated that this technology needs to be seen as more than just the foundation for cryptocurrencies. IBM is amongst the growing number of companies offering Blockchain-as-a-Service (BaaS); a service that allows enterprises to pilot the technology without having to undergo huge capital expenditure in hardware and onsite development.
Hundreds of Scientific Research companies hold their headquarters or research facilities in the UK. not only do they represent a significant proportion of the UK economy, but also attract a great deal of Government and investment activity. The survey aimed to determine what the current use of the cloud is within this industry and what individuals from this sector view as the greatest challenges to their IT plans over the next few years.