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PodChats for FutureCFO: Capturing opportunities under an evolving payments landscape
As economies in Asia move towards some semblance of post-pandemic normal, one observable trend is the continuing shift away from traditional cash and cheque methods of payment to a diverse landscape that includes digital wallets, digital currencies and innovative fintech solutions.
Propelling this growth of non-cash transactions is a consumer base that is becoming accustomed to cross-border transactions, e-wallets, instant payments, and QR-code-based solutions. With the Asian Development Bank forecasting the digital economies of the Asia-Pacific region to be worth up to US$1 trillion, how should CFO of corporate entities approach the evolving payment landscape?
In this PodChats for FutureCFO, Edward Metzger, vice president for payments efficiency at LexisNexis Risk Solutions, shares his perspective on capturing opportunities under an evolving payments landscape.
1. Before we go into the future, let’s first look at the recent past and current situation. How has the payments landscape changed over the last few years, especially after the pandemic?
2. All of that is great if you are the consumer and merchants. But what about corporate entities? What is the impact of instant payments in terms of how CFOs manage the finances of the organisation?
3. Given this direction towards instant payments, what are the key challenges that CFOs must grapple with as their organisations move to adopt these instant payment solutions?
4. Efficiency remains a high priority for CFOs. What does the CFO need to put together as they look to service providers like LexisNexis Risk Solutions?
5. Coming into the new year, what technology trends and regulations will have the most significant impact on companies?
6. How should CFOs rise on these trends while supporting growth targets?
7. How about regulations, are there any trends that will arise as organisations adopt instant payments?
8. What is your advice for CFOs as they optimise these new trends?
PodChats for FutureCISO: Data immutability for regulatory compliance
It is said that the best-run organisations prioritize cybersecurity spending as a business decision first. Gartner’s Hype Cycle for Data Security 2023 reflects the increasing dominance of this approach. As key technologies needed for assessing and quantifying cloud risk mature, we see the continuing emergence of new technologies purpose-built to protect against emerging threats that inevitably arise along these new technologies.
One such is data immutability – a concept that grew in prominence with the invention of blockchain technology in 2008. The concept has since gained traction outside of the confines of its origin including in data protection and cybersecurity.
So, what is data immutability? How does it impact organisations under regulatory compliance?
In this PodChats for FutureCISO, Martin Creighan, vice president of Asia Pacific at Commvault, sheds light on the topic.
1. What do you mean by data immutability?
2. Why are organisations evolving towards data immutability?
3. How can AI be used to detect and prevent ransomware attacks and enhance data immutability within an organization's data infrastructure?
4. In what ways can AI be utilized to identify and flag any attempts to alter immutable data, thus providing a defence against ransomware attacks?
5. How can the integration of AI and data immutability technologies help organizations recover from ransomware attacks and ensure that their data remains secure and unaltered?
6. What are the potential benefits of combining AI-driven threat detection with data immutability to mitigate the impact of ransomware attacks on an organization's data assets?
7. 2024 is just around the corner. How do you see AI and data immutability evolve in terms of adoption or integration given that cyberattacks will continue to rise in velocity and ingenuity?
PodChats for FutureCIO: The CIO of the future
In the WW C-Suite Tech Survey by IDC, 59% of respondents acknowledged that digital initiatives are now co-owned by C-Suite/LOB. More and more c-suite roles are gravitating around technology and CIOs are rising, more than ever, to the call of technology leadership.
Together, they are modernizing their organizations digital core and scaling innovation. Asia/Pacific Japan’s c-suites top tech investments include GenAI, automation and cybersecurity, while top CIO technology priorities include IT and cloud operations, cybersecurity and compliance, and hardware and software support, among other things.
FutureCIO recently spoke to Linus Lai, vice president for Digital Business and Trust, IDC Asia/Pacific, to get his perspective on a number of technology trends and their impact of the enterprise in 2024.
PodChats for FutureCISO: The future state of passwordless authentication
Clifford Stoll, author of The Cuckoo’s Egg, an investigation into the hacking of the Lawrence Berkeley National Laboratory that led to the capture of hacker Marcus Hess, famously said: “Treat your password like your toothbrush. Don’t let anyone else use it and get a new one every six months.”
The paper, How Effective is Multifactor Authentication (MFA) at Deterring Cyberattacks? concludes that implementing MFA leads to a 99.22% reduction in the risk of compromise across the entire population, and a 98.56% reduction even in cases where credentials have been leaked.
To be clear, MFAs can be hacked. Roger Grimes, defense evangelist at KnowBe4, published a 41-page ebook in which he details over 12 ways to hack MFA but that’s for another podchat.
In this Podchat, we revisit the continuing evolution in password use, and the potential influence of artificial intelligence on both sides of the identity protection fence. Andrew Shikiar, executive director with FIDO Alliance, joins us once again, to walk us through key findings in the Online Authentication Barometer and what this means to use in Asia.
1. FIDO was founded in 2012. Twelve years on, why are organisations/users still relying on passwords to access systems and data?
2. How has generative AI reshaped the cybersecurity landscape, particularly when it comes to identity access management?
3. How can passwordless authentication methods, like biometrics or passkeys, help protect against AI-driven cyber threats?
a. What makes them (passwordless authentication techniques) more secure than traditional password systems?
4. Are there any specific industries or sectors that are particularly susceptible to AI-fueled scams?
a. Why are these organisations at greater risk from AI-fueled scams?
5. How can they benefit from implementing passwordless authentication to enhance their security posture?
6. 2024 is just around the corner. What can we expect as regards how organisations secure access to data and systems?
7. As more enterprises use cloud, how should CISOs and CIOs engage their cloud service providers as regards the use of passkeys and other authentication technologies?
PodChats for FutureCIO: Transitioning AI from hype to intent
Forrester predicts that 2024 will usher in the era of intentional AI where gimmicks and technical experimentation of GenAI will give way to more focused and strategic initiatives.
With us today on PodChats for FutureCIO is Fred Giron, VP, senior research director at Forrester to help us under how to transition AI from hype to intent.
1. Forrester sees AI as enabling organisations to pivot into leadership roles. There have been other technologies that we predicted to transform organisations. What makes AI different?
2. Given the disparity in the level of maturity of markets in Asia, including low levels of data literacy and the scarcity of experienced local staff, how do you see organisations outside of large and MNC companies, capitalising on the potential of AI?
3. Realistically, what would need to be done (or to happen) for local enterprises to start their AI journey? [click mouse]
4. Speaking of risks, in many parts of Asia, regulatory frameworks around the use of AI have yet to be set. Will this present adoption challenges for local players in regulated sectors like healthcare and financial services? [click mouse]
5. Technical debt continues to be a growing concern among non-IT leaders in organisations. Do you see AI adoption as further driving organisations into debt they can’t afford?
6. Are there any proven approaches to better managing costs (technical debt) without giving up on the AI dream of a better future?
7. Any guidance for business leaders looking to balance the benefits and risks associated with emerging technologies like AI, even as they aspire to capture the promises of these yet to be field-tested in commercial environment solutions? [click mouse]
8. 2024 is just around the corner. What are your predictions for AI use in the coming year?
9. Do you see AI taking over jobs?
PodChats for FutureCIO: AI’s impact on data centres in Asia
The Global Data Centre Outlook report from JLL suggests that the mass adoption of cloud computing and artificial intelligence (AI) is driving exponential growth for the data centre sector.
The report posits that the demand for data centre capacity to support AI is growing rapidly, with most research reports indicating that the global data centre market for AI is expected to grow at CAGR 25%+.
Eric Hui, Director, IOT Business Development, Asia-Pacific, Equinix shares his perspectives on the impact of the artificial intelligence boom on data centres in Asia.
1. How is Generative AI impacting the data centre (DC) industry in Asia?
a. Please identify the top 3 opportunities.
2. What are the technological requirements—design, location, etc.—for AI-ready DCs? What changes should DC operators implement to support the demand? [Segment between hyperscalers and colocation DCs]
3. What are the top 3 challenges in developing AI-ready DCs in Asia, and how do you see the industry managing the (a) challenges and (b) opportunities?
4. How well placed is the DC [hyperscalers and colocation DCs] industry to achieve sustainable growth?
5. DCs have gone through several revolutionary waves: the internet, virtualization, and the cloud. What is the future of DCs? [2024-2026]
6. How do you see security issues/concerns impacting data centre developments?