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Tech News

15-09-2017
Innovation and Technology Venture Fund

The Government has launched the Innovation and Technology Venture Fund on 15-09-2017. It is now open for application by venture capital funds to become co-investment partners (Deadline: 15-01-2018). A briefing session will be held on 03-10-2017 at the Hong Kong Science Park. Interested venture capital funds are welcome to attend.

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21-02-2019
MyDoc and Homage partner to make access to healthcare affordable

MyDoc, an Asian value-based digital managed care platform, has announced its partnership with Homage, a provider of personalized nursing services. The partnership will integrate nursing care into MyDoc to make it more affordable for employers and insurers to offer higher quality and comprehensive onsite healthcare. Meanwhile, through MyDoc, Homage will be able to offer its community of patients enhanced outpatient healthcare support.At Budget 2019, Singapore’s Finance Minister Heng Swee Keat spoke about making quality and cost-effective healthcare available to the country’s pioneer generation, as well as those in the general population suffering from chronic conditions, regardless of income. A key pillar of MyDoc’s strategy includes simplifying healthcare to catch chronic diseases before it is too late. Using a data-driven clinical triage, MyDoc aims to deliver the right care at the right time to employees and their families in Singapore. The company selectively trains and integrates strategic partners with capabilities to enhance the patient experience and steer patients onto effective personal care pathways that help each individual get well, stay well and out of hospitals.There will be two patient care models as a result of this partnership:Expanding Onsite Clinics staffed by nurses who are supported by remote doctors Expanding Clinic Care Capabilities to enable patient follow up care at home and better distribution of patient load from one clinic to another less busy oneMyDoc will train Homage nurses and certify telenurses to monitor patient oxygen levels, heart rate, respiration, blood glucose and more. Patients will be able to contact their nurses through MyDoc to get help. Nurses will also be able to launch teleconsults with doctors from patients’ homes or offices to provide comprehensive doctor and nurse care, just like in brick and mortar clinics or hospitals, but at an affordable cost for each onsite visit and consult.“MyDoc remains focused on building a healthier society while reducing the cost of healthcare,” said Dr. Vas Metupalle, CIO and co-founder of MyDoc. “Adding nurses to the MyDoc CARE team is a natural step in our strategy to enhance our patient-centric primary care continuum. Nursing care at home would be a significant value add to patients who need post hospital discharge follow up services like wound reviews, dressing changes, intravenous therapies and vital monitoring.”Gillian Tee, CEO and founder of Homage said, “Ultimately, it is our goal to enable wellness and recovery for our care recipients through the delivery of personalized caregiving services and we see working with a trusted partner like MyDoc on providing a marquee, integrated solution as a key step in making healthcare more holistic, accessible and affordable in this region.”In a 2018 joint study by the Lien Foundation and the National University of Singapore (NUS), it was found that home care services are overtaking nursing homes as a primary form of long-term care in Singapore – especially as the country is estimated to possess an aged population of around 1 million people by 2030. However, the report also cited the remaining challenges of the high costs of care as well as the need to establish proper safeguards that ensure quality and measurable care outcomes for patients.Homage is the most recent addition to MyDoc’s value-based digital healthcare platform. Other strategic partners in the region include Guardian, IHP, Acumed, Aetna, AIA Vitality, Cigna and more.  

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21-02-2019
Orange Tee & Tie partners with MVL Foundation to enhance property agents' customer service capabilities

MVL Foundation (Mass Vehicle Ledger, MVL), the company behind blockchain-based ride-hailing application TADA in Singapore, will be working with real estate agency OrangeTee & Tie to empower their agents to enhance their customer service capabilities.Through this partnership, agents working for the OrangeTee & Tie will be able to enjoy TADA’s ride-hailing services through the agent mobile application, giving them access to TADA’s 28,000 vehicles, where they can book a ride for themselves or their clients for meetings.“MVL is committed to improving the mobility experiences for all Singaporeans, and this partnership will help benefit the OrangeTee and Tie agents in their daily work, allowing them to do their jobs more efficiently. This will also allow our drivers to have an additional opportunity to receive ride bookings,” said Kay Woo, CEO of MVL.“Customer service is an integral part of how our agents go about their business. With access to the TADA platform through Agent App, they can provide better customer experiences by conveniently hailing a ride for their customer to a property for sale. They can also call for a ride themselves easily through Agent App which they are already doing work on, saving much valuable time in the process,” said Steven Tan, Managing Director of OrangeTee & Tie.The platform-to-platform integration between OrangeTee & Tie and TADA is expected to be completed by Q3 2019, and will see both teams working closely together to help OrangeTee & Tie bring additional value to their existing and prospective clients. 

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21-02-2019
January 2019’s most wanted malware: a significant new threat speaks up

Check Point Software Technologies has published its latest Global Threat Index for January 2019.The index reveals a new backdoor Trojan affecting Linux servers, which is distributing the XMRig crypto-miner. The new malware, dubbed SpeakUp, is capable of delivering any payload and executing it on compromised machines.The new Trojan currently evades all security vendors’ anti-virus software. It has been propagated through a series of exploitations based on commands it receives from its control center, including the 8th most popular exploited vulnerability, “Command Injection over HTTP”. Check Point’s researchers view Speakup as a significant threat, as it can be used to download and spread any malware.In January, the top 4 most prevalent malware variants were cryptominers.Coinhive remains the top malware, impacting 12% of organizations worldwide. XMRig was once again the second most prevalent malware with a global impact of 8%, followed by Cryptoloot miner with an impact of 6% of organizations globally. While there are four cryptominers in January’s index, half of all malware forms in the top ten can be used to download further malware to infected machines.Maya Horowitz, Threat Intelligence Group Manager at Check Point commented: “While January saw little change in the malware forms aimed at enterprises worldwide, we are beginning to see new ways to distribute malware. Threats like these are a stark warning of bigger threats to come. Backdoors like Speakup can evade detection and then distribute further, potentially more dangerous malware to compromised machines. Since Linux is used extensively in enterprise servers, we expect Speakup will be a threat that will grow in scale and severity throughout the year.”January 2019’s Top 3 ‘Most Wanted’ Malware*The arrows relate to the change in rank compared to the previous month1. ↔ Coinhive – Crypto Miner designed to perform online mining of Monero cryptocurrency when a user visits a web page without the user’s knowledge or approval the profits with the user. The implanted JavaScript uses a great deal of the computational resources of end users’ machines to mine coins, and may crash the system.2. ↔ XMRig – Open-source CPU mining software used for the mining process of the Monero cryptocurrency, and first seen in-the-wild on May 2017.3. ↑ Cryptoloot – Crypto-Miner that uses the victim’s CPU or GPU power and existing resources for crypto mining – adding transactions to the blockchain and releasing new currency. It is a competitor to Coinhive, trying to pull the rug under it by asking a smaller percentage of revenue from websites.Hiddad, the modular backdoor for Android which grants privileges to downloaded malware, has replaced Triada at first place in the top mobile malware list. Lotoor follows in second place, while Triada has fallen to third place.January’s Top 3 ‘Most Wanted’ Mobile MalwareHiddad – Modular Backdoor for Android which grants super user privileges to downloaded malware, as helps it to get embedded into system processes.Lotoor – Hack tool that exploits vulnerabilities on Android operating system in order to gain root privileges on compromised mobile devices.Triada – Modular Backdoor for Android which grants super user privileges to downloaded malware, as helps it to get embedded into system processes. Triada has also been seen spoofing URLs loaded in the browser.Check Point researchers also analyzed the most exploited cyber vulnerabilities. CVE-2017-7269 remained in first place with a global impact of 47%. Following closely behind, Web Server Exposed Git Repository Information Disclosure was in second place and OpenSSL TLS DTLS Heartbeat Information Disclosure followed in third, impacting 46% and 45% of organizations around the world respectively.January’s Top 3 ‘Most Exploited’ vulnerabilities1. ↔ Microsoft IIS WebDAV ScStoragePathFromUrl Buffer Overflow (CVE-2017-7269) – By sending a crafted request over a network to Microsoft Windows Server 2003 R2 through Microsoft Internet Information Services 6.0, a remote attacker could execute arbitrary code or cause a denial of service conditions on the target server. That is mainly due to a buffer overflow vulnerability resulted by improper validation of a long header in HTTP request.2. ↑ Web Server Exposed Git Repository Information Disclosure – An information disclosure vulnerability has been reported in Git Repository. Successful exploitation of this vulnerability could allow an unintentional disclosure of account information.3. ↓ OpenSSL TLS DTLS Heartbeat Information Disclosure (CVE-2014-0160; CVE-2014-0346) – An information disclosure vulnerability exists in OpenSSL. The vulnerability is due to an error when handling TLS/DTLS heartbeat packets. An attacker can leverage this vulnerability to disclose memory contents of a connected client or server.Check Point’s Global Threat Impact Index and its ThreatCloud Map is powered by Check Point’s ThreatCloud intelligence, the largest collaborative network to fight cybercrime which delivers threat data and attack trends from a global network of threat sensors. The ThreatCloud database holds over 250 million addresses analyzed for bot discovery, more than 11 million malware signatures and over 5.5 million infected websites, and identifies millions of malware types daily. 

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21-02-2019
Business execs not confident in identifying financial data inaccuracies

A global survey of C-suite executives and finance professionals commissioned by BlackLine has revealed that over half (55%) of global respondents and 19% of local respondents are not completely confident they can identify financial errors before reporting results.BlackLine commissioned independent global research firm Censuswide to survey over 1,100 C-suite executives and finance professionals in large and midsize organizations across the world to establish accuracy confidence levels in financial data and perceived impact of errors on business. This includes 50 C-level and 50 finance professionals in Singapore from companies earning a minimum revenue of S$20 Million.Not only is there evidence of a disconnect between C-suite respondents and finance professionals when it comes to confidence in the accuracy of financial data, but more than seven in 10 respondents in Singapore believe that their organization has made significant business decisions based on inaccurate data. Many identified this as a hidden problem, with close to half (45%) stating concern over errors that they know must exist, but of which they have no visibility.The BlackLine survey results show an overwhelming acknowledgment that inaccurate financial data has negative implications both externally and internally, yet also shows that many organizations continue to be challenged by human error, ever-increasing volume of data sources, as well as outdated technology.“It is concerning that so many organizations are not confident in their ability to identify errors and ensure accurate reporting,” Mario Spanicciati, chief strategy officer at BlackLine, said.  “The high profile misreporting scandals we see in the news could be just the tip of a larger financial inaccuracy iceberg. It seems clear that not only are reporting errors prevalent, but that many of these inaccuracies remain hidden below the surface. There is no longer any excuse for not having full visibility into accurate numbers from which to report and drive business forward.”Survey highlights include:Misplaced C-suite trust in the numbersAlthough almost four in ten (36%) of respondents in Singapore still claim to completely trust the accuracy of their own financial data in general, there is a significant discrepancy between the views of the C-suite and that of finance professionals. While 40% of C-suite respondents claimed to completely trust the accuracy of their financial data, only 32% of finance professionals said the same. Globally, a higher percentage of 54% respondents claim to completely trust the accuracy of their own financial data.Many organizations are betting their business on inaccurate financial dataMore than seven in 10 (74%) of respondents in Singapore think that either they themselves or their CEO has made a significant business decision based on out-of-date or incorrect financial data as compared to a lower percentage of 69% globally. 18% in Singapore and 36% globally cite that this has definitely occurred in their organization.Low confidence levels in ability to spot errors to ensure accurate reportingAbout six in ten (62%) of respondents in Singapore said that a company they’ve worked for had to restate their earnings due to inaccuracies in financial data that weren’t identified prior to close. Only 27% of respondents agreed that they could trust that their finance team/CFO had identified all errors to ensure they are reporting accurately. Respondents cited human error (51%), complexity of collecting and processing data (50%),  multiple data sources (40%) and clunky technology (39%), as well as the lack of awareness of competence for co-workers who inputted data (32%) as contributing factors to their lack of trust.Counting the cost of hidden inaccuraciesNearly all (98%) C-level respondents and finance professionals in Singapore agreed that if inaccuracies in financial data were not identified prior to reporting, the impact would be negative. These negative impacts included significant reputational damage (52%), spending considerable time reworking the accounts (47%), increasing debt levels (45%), and an impact on their ability to secure additional investment (45%). Many global large organizations are constantly having to fix financial errors in their accounts – in almost a quarter (22%) of cases, C-suite respondents said it takes up to 10 days per month for their organization to identify errors and make adjustments, potentially wasting as many as  days each year. Singapore respondents shared that seven in ten (70%) takes up till five days to identify potential errors and record the necessary accounting adjustments.Accepted margins of error worryingly wide, despite recognition of pressure to close accuracy gap54% of respondents in Singapore acknowledged that the acceptable margin of error with accounts is decreasing in today’s technology-driven world. Despite this, 39% indicated that their organization still wouldn’t consider USD$2 billion of accounting errors reported in their financial statements as material.The research suggests that CEOs are making business decisions on numbers in which they are confident, but the people preparing the statements and reports are not.  The result is a heightened and unnecessary level of risk for many large organizations.The implications of this are potentially severe. They include not only the financially negative impact of strategic decisions based on inaccurate numbers, but also the repercussions of failing to comply in an ever-expanding regulatory global business environment.Spanicciati concluded: “Unless there is recognition that this is an unacceptable and unnecessary level of risk, we can expect to see an increase in large-scale financial misreporting. Business leaders have a responsibility to ensure that the processes and technology are in place to enable continuous visibility and accuracy of financial data. At a time when advanced tools to help automate controls and ensure accuracy are available and proven, there’s really no excuse.” 

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21-02-2019
MVI Systems, KT sign smart hotel agreement

Hong Kong based MVI Systems and South Korea's KT will collaborate to offer AI-powered smart hotel services in Asia-Pacific and the Middle East

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21-02-2019
Training key to addressing HK's IT skills shortage: CIOs

A plurality of Hong Kong CIOs believe that in-house training is the best method of alleviating the city's IT skills shortage

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21-02-2019
Apple working on cross-platform app capabilities

Bloomberg reports that Apple’s ‘Marzipan’ will make it easier for developers to write cross-platform code

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21-02-2019
How distributed denial of service attacks are evolving

Denial-of-service attacks have been part of the criminal toolbox for twenty years, and they’re only growing more prevalent and stronger

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21-02-2019
Singapore Budget 2019: Business and tech leaders’ perspectives

Following this week’s Budget Statement by Singapore Finance Minister Heng Swee Keat, the marketplace is abuzz with discussions about what it all means for citizens and businesses - particularly digital transformation, innovation, cybersecurity, and the future of healthcare and work.Global media intelligence firmMeltwater has compiled a report highlighting key social media statistics on the Singapore Budget 2019. Some highlights include:Over 2,700 social posts were generated on the day of the budget announcement (18 Feb), and over 500 social posts as of this afternoon (19 Feb). Social sentiments suggest that the budget announcement was well-received by Singaporeans, generating over 29% positive sentiments and 12% negative sentiments online. Conversations around taxes & GST (27%) were most discussed followed by the Merdeka Generation (24%) and the Bicentennial Bonus (17%)."The annual Singapore budget announcement never fails to get people talking, and this year is no different. With the large volume of conversation happening on social media, we can see that the Merdeka Generation Package and the Bicentennial Bonus are the announcements receiving the most chatter and resonating well. This isn’t surprising given that these are the packages have the most far-reaching, immediate and personal impact on the lives of citizens," said Mimrah Mahmood, regional director of media solutions, Meltwater.While citizens are sharing their sentiments widely on social media, corporate voices are just as important.Earlier this week, Enterprise Innovation has garnered some initial views of industry bodies and leaders. Here, more business and technology leaders share their comments on this year’s Singapore Budget.Benjamin Low, Vice President (Asia Pacific), Milestone Systems:The measures announced in this year’s Budget address two key issues for businesses – the ability to adopt new technologies and ability of people to work with them.For instance, the expansion of the Productivity Solutions Grant (PSG) will allow businesses to adopt new technologies which can give them a competitive edge, or reinvigorate struggling sectors such as brick-and-mortar retail.For example, using video analytics powered by AI and machine learning, retailers can identify hot and cold spots in a store and even see how people react to certain displays. This completely new way of finding insights can help retailers optimise their store layouts and marketing.As technology advances at an unrelenting pace, the new Professional Conversion Programme (PCP) will also help more people get crucial upgrades to their skills.In the security industry, for instance, the traditional role of a security guard has been to patrol a site and watch security surveillance feeds. But video analytics can help optimize the work of security guards, meaning our security workforce must start gaining higher value skills, such as the ability to operate more technical surveillance systems, in order to stay relevant.Abhijeet Vijayvergiya, President & Managing Director - Asia Pacific, Capillary Technologies:As highlighted by Minister for Finance Heng Swee Keat in his speech to Parliament, SMEs in Singapore need to look beyond conventional approaches and adapt to digital solutions and cutting-edge artificial intelligence to address changing consumer needs effectively.The government's new Digital Service Lab will enable companies to gain access to relevant digital technologies and skills training programmes. With shrinking borders, there is potential for them to further their reach into global markets through AI-centric means.Globally, AI is rapidly becoming a commonly-used competitive tool for businesses; from chatbots managing customer service to data analytics deriving predictive recommendations, its introduction for Singapore’s economy can only aid in the strengthening of productivity growth in the services sector.Pages1 2 » last »

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21-02-2019
TerraPay partners Pan Asia Bank for instant money transfers to Sri Lanka

TerraPay has partnered Pan Asia Bank so TerraPay's network partners can instant cross-border money transfer to all bank accounts in Sri Lanka.The partnership allows Sri Lankan migrants worldwide to instantly transfer funds to the bank accounts of friends and family back home through TerraPay's partner outlets, website or mobile-app.TerraPay is a real-time, low value payments network, which connects all financial instruments globally. The company enables interoperability of mobile wallets in international, regional and domestic markets. TerraPay's interoperability engine enables customers to send and receive real-time transactions across diverse payment instruments, platforms and regions.Aniruddha Sane, Chief Business Officer of TerraPay, commented, "We are delighted to partner with Pan Asia Bank, a leading bank in Sri Lanka, for instant money transfers to over 10 Million bank accounts. Globally, TerraPay enables more than 1.5 Billion bank accounts and 200+ Million mobile money wallets in over 50 countries to receive real-time cross-border money transfers. Our target is to double these figures by 2020 and Asia will be at the forefront of this growth."Gerald Wanigarathne, DGM- Information Technology of Pan Asia Bank, said, "We are elated to partner with TerraPay as a part of our expansion strategy in the remittance business and to offer our customers a convenient and fast remittances service through our banking network. Without a doubt this will further strengthen Pan Asia Bank's ability to provide a broader range of banking services to our existing and potential customers."

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21-02-2019
OCBC Bank launches digital security soft token on m-banking app

OCBC Bank has rolled out a digital security token – OCBC OneToken – on the OCBC Mobile Banking app, replacing all hardware security tokens for customers.Integrated for use with biometric authentication or access code and PIN, OCBC OneToken offers customers access to all digital banking services on-the-go and on their desktop, eliminating the need for SMS one-time passwords (OTP) or hardware tokens.This service has been available to all OCBC Singapore customers since January 2019. OCBC Malaysia customers will be able to use this service from March 2019.After a simple one-time set-up, OCBC OneToken is instantly activated on the customer’s mobile phone. Customers can then perform all digital banking services – from basic services such as viewing bank accounts, to making payments and transfers, and even high-risk transactions such as adding payees and updating personal details, without the need for SMS OTPs or their hardware token.The digital security token automatically authenticates transactions on the OCBC Mobile Banking app, and allows customers to approve transactions on their registered mobile phone when banking on other devices. Even if a customer is travelling or has no data network connectivity, OTPs can be generated offline on their OCBC OneToken-registered mobile phone. Customers can also instantly re-activate OCBC OneToken on another phone if they switch or upgrade devices, which happens once every 2 years on an average in Singapore.“The move towards digital security tokens will allow our customers to ditch their hardware tokens and bank more seamlessly and securely with us. Everyone has their mobile device with them almost all the time, so having OCBC OneToken on their mobile makes digital banking totally frictionless – no SMS OTPs, no hardware tokens, no passwords needed for authentication. We are excited about the positive initial customer response, and are confident that a majority of our digital consumers will embrace this,” said Aditya Gupta, Head E-Business, Singapore & Malaysia, OCBC Bank.

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21-02-2019
Akamai, MUFG enter JV for blockchain-based online payment network

Akamai Technologies, Inc. and Mitsubishi UFJ Financial Group have established a joint venture, the Global Open Network, Inc. (GO-NET) and announced their plans to offer a new blockchain-based online payment network enabling next-generation transaction security, scale and responsiveness.GO-NET is the result of more than three years of close collaboration between Akamai and MUFG.  Both Akamai and MUFG will be investors in GO-NET, which is expected to make the new payment network available in Japan during the first half of 2020. GO-NET aims to provide a comprehensive set of services, including support for existing payment processing functions, pay-per-use, micropayments and other developing IoT-enabled payment transactions.Critical to the joint venture will be Akamai’s innovative Blockchain as a Service solution, which will leverage its globally distributed Intelligent Edge Platform to power the online payment network.Akamai’s Blockchain solution touts the ability to process more than one million transactions per second at under two-second latency per transaction. In addition, transactions executed on the platform will be secured and accelerated by Akamai’s cloud security and performance offerings. MUFG will provide extensive know-how of financial services and expertise in business development to bring sustainable growth and success to the joint venture.“This joint venture with MUFG sets the stage for a new blockchain-based online payment system that can better serve customers’ and partners’ payment processing needs,” said Dr. Tom Leighton, CEO and co-founder of Akamai. “The collaboration between MUFG and Akamai over the last three years has demonstrated what is possible when industry leaders join forces to solve a challenging problem. Akamai and MUFG are committed to delivering innovative solutions at a level of security, scale and responsiveness never before achieved.”“Financial services need to embrace digital innovation to meet greater demands for security, capacity and efficiencies, and to serve evolving market and consumer needs,” said Hironori Kamezawa, Group CDTO of MUFG and CEO of GO-NET. “MUFG has high expectations for our joint venture with Akamai. Our goal is to enable rapid innovation in digital payment services, leveraging a transformative platform, with built-in security, hyper-scale and efficiencies. GO-NET aims to expand the payment network business to a global scale, and enhance the services to support diverse payment ideas in the upcoming IoT era.”

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20-02-2019
Gartner: 10 data and analytics tech trends for 2019

Augmented analytics, continuous intelligence and explainable artificial intelligence (AI) are among the top trends in data and analytics technology that have significant disruptive potential over the next three to five years, according to Gartner.Rita Sallam, research vice president at Gartner, said data and analytics leaders must examine the potential business impact of these trends and adjust business models and operations accordingly, or risk losing competitive advantage to those who do.“The story of data and analytics keeps evolving, from supporting internal decision making to continuous intelligence, information products and appointing chief data officers. It’s critical to gain a deeper understanding of the technology trends fueling that evolving story and prioritize them based on business value,” she added.Gartner’s Donald Feinberg, vice president and distinguished analyst, noted that digital disruption is creating too much data, presenting a challenge to organizations to tap and make sense of the deluge. At the same time, he conceded the same data deluge will create unprecedented opportunity.The vast amount of data, together with increasingly powerful processing capabilities enabled by the cloud, means it is now possible to train and execute algorithms at the large scale necessary to finally realize the full potential of AI.“The size, complexity, distributed nature of data, speed of action and the continuous intelligence required by digital business means that rigid and centralized architectures and tools break down,” said Feinberg. “The continued survival of any business will depend upon an agile, data-centric architecture that responds to the constant rate of change.”Gartner recommends that data and analytics leaders talk with senior business leaders about their critical business priorities and explore how the following top trends can enable them.Trend No. 1: Augmented AnalyticsAugmented analytics is the next wave of disruption in the data and analytics market. It uses machine learning (ML) and AI techniques to transform how analytics content is developed, consumed and shared.By 2020, augmented analytics will be a dominant driver of new purchases of analytics and BI, as well as data science and ML platforms, and of embedded analytics. Data and analytics leaders should plan to adopt augmented analytics as platform capabilities mature.Trend No. 2: Augmented Data ManagementAugmented data management leverages ML capabilities and AI engines to make enterprise information management categories including data quality, metadata management, master data management, data integration as well as database management systems (DBMSs) self-configuring and self-tuning. It is automating many of the manual tasks and allows less technically skilled users to be more autonomous using data. It also allows highly skilled technical resources to focus on higher value tasks.Augmented data management converts metadata from being used for audit, lineage and reporting only, to powering dynamic systems. Metadata is changing from passive to active and is becoming the primary driver for all AI/ML.Through to the end of 2022, data management manual tasks will be reduced by 45 percent through the addition of ML and automated service-level management.Trend No. 3: Continuous IntelligenceBy 2022, more than half of major new business systems will incorporate continuous intelligence that uses real-time context data to improve decisions.Continuous intelligence is a design pattern in which real-time analytics are integrated within a business operation, processing current and historical data to prescribe actions in response to events. It provides decision automation or decision support. Continuous intelligence leverages multiple technologies such as augmented analytics, event stream processing, optimization, business rule management and ML.Trend No. 4: Explainable AIAI models are increasingly deployed to augment and replace human decision making. However, in some scenarios, businesses must justify how these models arrive at their decisions. To build trust with users and stakeholders, application leaders must make these models more interpretable and explainable.Unfortunately, most of these advanced AI models are complex black boxes that are not able to explain why they reached a specific recommendation or a decision. Explainable AI in data science and ML platforms, for example, auto-generates an explanation of models in terms of accuracy, attributes, model statistics and features in natural language.Trend No. 5: GraphGraph analytics is a set of analytic techniques that allows for the exploration of relationships between entities of interest such as organizations, people and transactions.The application of graph processing and graph DBMSs will grow at 100 percent annually through 2022 to continuously accelerate data preparation and enable more complex and adaptive data science.Graph data stores can efficiently model, explore and query data with complex interrelationships across data silos, but the need for specialized skills has limited their adoption to date, according to Gartner.Graph analytics will grow in the next few years due to the need to ask complex questions across complex data, which is not always practical or even possible at scale using SQL queries.Trend No. 6: Data FabricData fabric enables frictionless access and sharing of data in a distributed data environment. It enables a single and consistent data management framework, which allows seamless data access and processing by design across otherwise siloed storage.Through 2022, bespoke data fabric designs will be deployed primarily as a static infrastructure, forcing organizations into a new wave of cost to completely re-design for more dynamic data mesh approaches.Trend No. 7: NLP/ Conversational AnalyticsBy 2020, 50 percent of analytical queries will be generated via search, natural language processing (NLP) or voice, or will be automatically generated. The need to analyze complex combinations of data and to make analytics accessible to everyone in the organization will drive broader adoption, allowing analytics tools to be as easy as a search interface or a conversation with a virtual assistant.Trend No. 8: Commercial AI and MLGartner predicts that by 2022, 75 percent of new end-user solutions leveraging AI and ML techniques will be built with commercial solutions rather than open source platforms.Commercial vendors have now built connectors into the Open Source ecosystem and they provide the enterprise features necessary to scale and democratize AI and ML, such as project & model management, reuse, transparency, data lineage, and platform cohesiveness and integration that Open Source technologies lack.Trend No. 9: BlockchainThe core value proposition of blockchain, and distributed ledger technologies, is providing decentralized trust across a network of untrusted participants. The potential ramifications for analytics use cases are significant, especially those leveraging participant relationships and interactions.However, it will be several years before four or five major blockchain technologies become dominant. Until that happens, technology end users will be forced to integrate with the blockchain technologies and standards dictated by their dominant customers or networks. This includes integration with your existing data and analytics infrastructure.The costs of integration may outweigh any potential benefit. Blockchains are a data source, not a database, and will not replace existing data management technologies.Trend No. 10: Persistent Memory ServersNew persistent-memory technologies will help reduce costs and complexity of adopting in-memory computing (IMC)-enabled architectures. Persistent memory represents a new memory tier between DRAM and NAND flash memory that can provide cost-effective mass memory for high-performance workloads.It has the potential to improve application performance, availability, boot times, clustering methods and security practices, while keeping costs under control. It will also help organizations reduce the complexity of their application and data architectures by decreasing the need for data duplication.“The amount of data is growing quickly and the urgency of transforming data into value in real-time is growing at an equally rapid pace,” Feinberg said. “New server workloads are demanding not just faster CPU performance, but massive memory and faster storage.” Caption: Image from iStockPhoto/sorbetto

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20-02-2019
Smart payment gaining traction among HK retailers, consumers

The second AlipayHK Smart Payment Popularity Index shows increasing willingness among both Hong Kong consumers and retailers to adopt smart payment

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20-02-2019
HKSTP to hold 2019 Career Expo on March 9

More than 150 technology companies will be exhibiting at the annual Hong Kong Science Park Career Expo next month

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CyberLink Vol.125 February 2019

Be inspired by thriving entrepreneurs’ daring spirit at “We Dare to Venture” Season 2

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CyberLink Vol.124 January 2019

Cyberport spotlights FinTech and InsurTech at Asian Financial Forum 2019

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CyberLink Vol.123 December 2018

Cyberport parades FinTech start-ups at the region’s largest tech events

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