The latest cloud computing trends in 2019

It’s 2019, and the Cloud is everywhere—from the apps we use every day to the infrastructure of global tech giants.

According to researchers at Gartner, revenue generated from public cloud services is projected to grow 17.5 percent in 2019. This amounts to a total of $214.3 billion, up from $182.4 billion in 2018.

More than a third of organizations surveyed by Gartner saw cloud investments as a top three investment priority. With this kind of growth, tech organizations are racing to get onboard with cloud-only software and platforms. Here are some of the trends to look out for this year:

Hybrid Cloud, Multi-Cloud and Mergers

IBM announced its purchase of Red Hat last October, calling it the “most significant tech acquisition of 2018.” This combined Red Hat’s extensive network of open-source clouds with IBM’s Hybrid Cloud team.

Mergers like these are likely to become a trend this year, as companies see the vast benefit of using multiple clouds across all sectors of their organization. Furthermore, this system will dominate in the future, as businesses find public clouds inadequate to meet every one of their requirements.

As a more flexible and functional solution, many organizations will shift to a network of multiple private, public and hybrid clouds in the coming years.

Serverless Cloud

Serverless computing is a young market in technology, but it will continue growing in 2019. Serverless computing isn’t actually “serverless.” Instead, it is a cloud-computing model in which the cloud provider itself runs the server on a dynamic, as-used basis (FaaS).

Rather than buying server space, developers can simply use a back-end cloud service to code, only paying for the server space they actually use.

As this relatively new technology develops, we can expect to see more companies providing and expanding their “serverless” offerings.

Artificial Intelligence

Although cloud technologies are growing exponentially, artificial intelligence (AI) could prove an even greater economic driving force. This is because according to Accenture, the impact of AI could double economic growth rates by 2035 in developed countries. 

Around 80 percent of large companies have adopted some form of AI, according to the Harvard Business Review.

Amazon, Twilio and Nvidia, to name a few, are thus, incorporating AI with cloud computing, next-gen GPUs and the Internet of Things (IoT). This has led to the developing of applications with “smart assistants,” and voice-to-text technologies.

Such a combination of AI and the cloud provides an extremely powerful and unconstrained computing network.

Security

Digital transformation is already underway, with Gartner also projecting that 83 percent of all workloads will shift to the cloud by 2020. However, this movement presents issues of cybersecurity.

Many businesses have not properly secured their cloud-stored data. For example, marketing and data aggregation firm Exactis left around 340 million records exposed on its cloud servers. This was uncovered in a data breach last year.

Mitigating factors

The implementation of the General Data Practice Regulations (GDPR) makes this even trickier. The GDPR affects cloud security, and IT companies will likely struggle to comply with these new laws while protecting sensitive information.

Cloud computing services are progressing exponentially, as are their new developments. As a result, 2019 will surely be filled with businesses pouring investment into enterprise solutions. This while expanding, securing and implementing cloud technologies to their fullest extent.

Bridget is a freelance writer and editor, and the founder of Lost Bridge Blog, where she writes about traveling as a Millennial woman on a budget. When not writing, you can find her traveling, drinking inhuman amounts of caffeine and scrolling through the latest tech & political news.
N26 Bank
N26 Bank

Sell easily with the aid of smart tech

Practical online software can – without a shadow of doubt – help your business (large enterprise or Start-up) get on top of its operations.

The most common operational tasks most of us use are sales and customer support. Though very important they cannot, however, be used in isolation to other business processes.

There are also other ‘bits’ and ‘bobs’ that can be built-in or integrated with to ensure that your business processes are fully automated. And automation saves you time and therefore, money!

Core operations that a good ERP can manage for your business are not limited to the following:

  • Sales (the lifeblood of your business)
  • Customer Support (now extended to Customer Engagement)
  • Accounting and Finance (all your banking, invoicing, payments and taxation)
  • Supply chain and logistics management (Cataloguing, Inventory, stock management, warehousing, storage and deliveries)
  • Retail (B2B, eCommerce, Point of Sales)
  • Human Resources (Staffing, holiday bookings, Salaries and wages, recruitment).
  • Marketing (Branding, campaign management, targeted ads etc.)

Can you imagine these have been in use since the industrial revolution and the introduction of chain stores? 

Trading
Trade with IQOption

ERP is the abbreviation for Enterprise Resource Planning and is basically the software your business uses on PCs/cashier systems, scanners, and all points of sale devices.  

One of a kind

We identified and reviewed a specialised ERP called  SmartSaleERP. It is an integrated tech platform targeted for retail business owners to help you get in control of your business. 

Granted, there are hundreds of ERP solutions out there including those from known brands such as Microsoft Dynamics, Salesforce, Zoho etc.

A distinguishing feature on SmartSaleERP however, is the kind of technology they use over and above the traditional features and user interface (UI).

This ‘edge’ comes from the use of  biometric and smartcard tech to provide you with a better customer/user experience.  The sales experience can be derived from both the customer and the business side.

Read the full feature to find out more about this distinct ERP here.

A True Prisoner’s Dilemma

Banks are no strangers to controversy – we only get a glimpse of their colossal levels of errors of judgement during times like the great financial crash of 2008.

Most big banks have a mandate (without your consent) to use funds deposited to trade and participate in complex and highly risky investments like stocks, currencies, futures and derivatives – but to what extent?

This also brings to the fore a potential issue of what is known as the principal-agent problem. Where the agents – bank employees, are given a ‘license to “ deal’ in all sorts of investments, often under the radar of both local and global financial authorities.

When one of such agents makes an overwhelming error in judgement, causing a large chunk of investment monies to be lost;  the agent is said to ‘go rogue’.  Questions arise as the agents often do not operate alone without supervision or consent from their seniors/managers.

A good example is that of a convicted bank fraudster; imprisoned and released on good behaviour, 38-year-old Kweku Adoboli who was eventually deported from Britain to Ghana.  A country he has lived in for 26 years in comparison to Ghana where had lived for a mere 4 years. This ends a long-protracted appeal process to allow him to remain and continue living in the UK after serving his sentence.

Some say he was a scapegoat for the deportation policies in the UK and argue that the colour of a person’s skin has no bearing on the immigration policy of Britain. This assumption holding some substance after what happened with the Windrush scandal

Others have also contended that he was the perfect scapegoat to throw in jail as a warning shot that the UK was willing to crack down on fraudulent bankers especially after the 2008 financial collapse which banks played a significant role in.

N26_banner-300x250-ENThis is also the reason why no top manager went to jail at UBS. Had Adoboli believed regulators did not know about money laundering and illegal trading in central London? The banks want to continue raking in profits and the last thing they wanted was a former insider with an appetite to take them on. These are the practices that have made them powerful. Adoboli failed to recognise that.  

“Adoboli did not syphon money to a private personal account, he did not pay himself a golden parachute, he did not launder money for terrorists or drug cartels, he did not manipulate interest rates and did not cause financial loss to the UK government. Other UK bankers who were never prosecuted however did.”

The word scapegoat is applicable because the banks that needed bailouts like RBS were savings banks, unlike UBS which was at least at that time, an investment bank. Adoboli did not syphon money for himself, he did, however, recklessly trade to make money for the Bank.

UBS is a bank which ordinary folks do not readily have access to. The very practices by Adoboli that lost the bank $2 billion led them to eventually record an overall profit of over $3 billion that same year. We, therefore, need to deprive our minds of the fact that Adoboli defrauded taxpayers of the UK and was a rogue agent of the bank.

He was, however, not alone in this practice and UK taxpayer bore no responsibility for the money that he lost. Therefore, in several ways, the own architect of his misfortune; either advertent or inadvertently.  

Let us, however, turn our attention to finance because this is what this post is about. And even before that, it is essential to get some perspective before jumping on to ‘lynch’ Adoboli. The Royal Bank of Scotland which manages cheque accounts of ordinary workers had to be given taxpayers money of £45,5 billion as a bailout.

It appears that the government will not get the money back according to the current chair of UBS, Sir Howard Davis. Interestingly enough, no one was arrested for causing financial loss to the state (that happened). UK taxpayers had to take a hit for this.

 Another interesting issue worth considering is the LIBOR scandal which was the manipulation of interbank lending rates by a host of global financial institutions. These banks, incidentally, including UBS by the way, have been implicated in manipulating interest rates for profit sharing. This was as far back as 2003 according to the counc39935_1200x628il of foreign relations. Again, no one was jailed for this ‘heist’. Before addressing Adoboli ’s case again, some large multinational banks were publicly known to launder money (for terrorists and drug cartels) guess who was convicted? That’s right, no one.

We do not refute that what he did constituted a crime –  it apparently was and perhaps he deserves the jail time he got. But the way he was plastered all over the newspapers in the UK in 2011 as some poster boy for out of control banking in the UK was why the term “scapegoat” was used.

  In investment banking, trading of commodities and currencies can go wrong which is why he should have insured his bets. But then, what no one is willing to talk about is the reward associated with high risk (uninsured) betting in the financial markets. That is the modus operandi of these banks; which does not make for sufficient juicy material for the corporate press. 

This is the height of the power of the big financial institutions and what they can get away with. Lose taxpayer’s money and there is no consequence. Fund terrorist or drug cartels and you will just be fined a fraction of your profits; fix international interest rates and all you receive is a fine. However, dare to lose their money through a risky bet and you will be undone just like Adoboli was.

Until the current financial framework is considerably changed to end monopolies of big financial institutions, the risky bets will continue. With blockchain and cryptocurrencies, who knows what the future hold? All the best to the “rogue trader” in his future endeavour nonetheless.

**This is a summarised section of a column by Julius Owusu-Paddy.  He is a staunch advocate for challenging social norms that elevate the powerful and suppresses the powerless. The full article can be read here. This section attempted to cover the issue of principal-agency problem and related issues in the financial industry.

One unanswered question is why investigators never scrutinised the practices of the entire UBS bank rather than just hauling two comparatively low-level managers to court (the afore-mentioned Kweku Adoboli and another Ron Greenidge). UBS did, however, make a profit that year despite the loss of $2 billion attributed to Adoboli.