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A.I. And Blockchain Are A Perfect Match When Used Together

In preparation for the Digital Enterprise Transformation Assembly taking place in June, we are dedicating this week on Digital Diary to all of the most innovative tech trends disrupting all leading industries. (Hint: they will also most likely make an appearance on our agenda during the assembly…)

Anyone who has an interest in digital transformation or technology, in general, is aware that A.I. and blockchain are two topics that have made a huge splash in a variety of industries. Whether you have personally worked with these two concepts, it is beneficial to be familiar with them if you want to be prepared for the future of tech.

There is a ton of content out there regarding both blockchain and A.I. They both have proven to be extremely disruptive, and experts believe it will only grow from here.

“Last year was massive for the creation of exponential technologies leveraging Artificial Intelligence (AI) and Machine Learning (ML)… Blockchain has been laying the foundation for a new decentralized internet at the same time. Last year, the total amount of capital raised via ICOs was a little over $5 billion.” Forbes reports.

Down To The Basics

It was always common for both of these trends to be discussed on different playing fields. Well, the future is knocking and it predicts that these two tools will be used together in business. Before your mind completely explodes, don’t worry. Let’s recap!

A.I. (artificial intelligence if you are just now tuning in) is essentially when machines can perform tasks in an intelligent way. The word intelligence relates to the idea of these machines possessing qualities that resemble those of humans. With the help of machine learning and deep learning, neural networks allow for cutting-edge technologies to appear through these machines. A good example of this would be robotics. Remember last week Walmart reported that robots will appear in-stores to help carry out human tasks? That is exactly what A.I. is.

A.I. is not going anywhere. In fact, it is just getting started, especially because of how fast data is growing throughout these leading industries like retail, marketing, and healthcare.

Blockchain is simply a place where data is stored in a digital way, whether it be encrypted, or through a disrupted ledger format. Blockchain is eligible if you are a highly intelligent system. Hmm, sound familiar?

A.I. And Blockchain Can Work Together

According to Forbes, A.I. and encryption are a match made in heaven.

“Data held on a blockchain is by its nature highly secure, thanks to the cryptography which is inherent in its filing system,” Forbes reports.

Not only can A.I. read encryption in a stellar way, blockchain can also help us track decisions made by artificial intelligence. Since A.I. can be hard for humans to understand, blockchain can work to make this language more accessible through a database.

“If decisions are recorded, on a datapoint-by-datapoint basis, on a blockchain, it makes it far simpler for them to be audited, with the confidence that the record has not been tampered with between the information being recorded and the start of the audit process.” Forbes reports.

A.I. and blockchain can be a disruptive force. Both tools can use their best assets in order to help humans understand the complex world of algorithms and data. If businesses can successfully merge these two trends, they may be able to stay above the curve and ahead of the competition.

Of course, if you are interested in merging these two trends, you will have to have a strategy. You can start with an A.I strategy and then be able to move onto blockchain. We got you covered.

ABOUT THE DIGITAL ENTERPRISE TRANSFORMATION ASSEMBLY

As more and more businesses look to digital technology and strategies to transform their business, CIOs know that data and information technology have never been more important. Understanding the convergence of mobile, social, and cloud is the first critical step for organizations looking to create opportunities and stay ahead of the competition.

The Millennium Alliance is thrilled to present our bi-annual Digital Enterprise Transformation Assembly, put together by the industry, for the industry. Join us in Miami, FL. for a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company maintains its competitive advantage.

Download the Sponsorship Prospectus to see if your eligible to sponsor our event >>

Rhonda Vetere, CIO & Global Technology Executive to Keynote Upcoming Digital Enterprise Transformation East

The Millennium Alliance is excited to announce Rhonda Vetere, CIO, Global Technology Executive and Author, Grit & Grind, will be the Keynote Speaker at The Digital Enterprise Transformation East Assembly taking place at The Ballantyne Hotel in Charlotte, NC from March 19-20, 2019.

About Rhonda Vetere:

Rhonda Vetere is a seasoned C-Suite technology executive who has worked across industries in global technology. A change agent for digital transformation, she has led the way for growth with more than 23 mergers and acquisitions at companies.

A passionate leader in technology across industries, Rhonda has worked in global executive positions at Estée Lauder Companies, AIG, HP Enterprise Services, Barclays / Lehman, Bank One / JPMorgan Chase, CompuServe, UUNET, MCI, and Worldcom. She has lived and worked internationally – in New York, Hong Kong, Singapore, London, Mumbai, and across India – and has managed teams of more than 20,000 people. As an industry expert and influencer, Vetere has been a keynote speaker and panelist at many conferences and events, including World Economic Forum/Davos, WIT (Women in Technology) Connect, Microsoft Global CIO Summit, Dell EMC World, and the U.S. Vice Presidential Candidate Debate.

Rhonda has been recognized with for her leadership and influence, notably with a 2017 Stevie Award for Excellence in Transforming Business and as a multi-year Top 100 CIO/CTO Executive Leader in STEM by STEMconnector.

Grit & Grind is Vetere’s second book – she is also the co-author of an HP special edition book, Enterprise Service Management for Dummies.

An avid sports fan and real-world corporate athlete, Rhonda stays focused and sharp by competing in marathons and triathlons on a regular basis – over 70 events thus far, including triathlons, half-marathons, marathons, and IRONMAN 70.3 mile triathlons. She recently ran 55 miles in the Serengeti as part of a girls and women’s empowerment fundraiser: the first women-only run of its kind.

About The Digital Enterprise Transformation East Assembly:

Thanks to the success of our Digital Enterprise Transformation Assembly series, in 2019 The Millennium Alliance in partnership with our Advisory Board, we are adding more events to the list! This exclusive Assembly will bring industry experts and the best solution providers to our Senior Members based on the East Coast.

Platform: The Art and Science of Personal Branding

In her new book with Penguin Random House, top industry expert Cynthia Johnson gives the why-to and how-to to everyone looking to develop and manage a personal brand, find an audience, and nurture their followers in the digital age. This indispensable guide to developing a personal brand is available wherever books are sold on February 5th.

Platform: The Art and Science of Personal Branding, is an honest and thought-provoking guide about effectively navigating the current digital landscape using the power of storytelling and marketing to proliferate influence through one’s personal brand. As the boundaries between the digital world and our physical world come together, it is as important than ever to be able to differentiate yourself against competitors, both on and offline. Understanding how to channel genuine engagement and create meaningful relationships is a necessary skill set for entrepreneurs, speakers, and professionals, across various industries, alike, in order to achieve their goals.

“I believe I’ve created something very versatile,” says Cynthia Johnson. “Personal branding is a strategic element anyone can utilize to proliferate influence and, in turn, accomplish their goals. However, not only does my book explore different avenues to take, but it also then fuels the reader’s imagination and desire to turn the concept of personal branding into something entirely their own. It’s in the name – a story must be raw, genuine and personal. I’m hoping to prepare the readers of my book for a journey they may not have known they needed or even wanted.”

Order your copy of Platform today everywhere books are sold. Visit cynthialive.com to learn more about Cynthia and her digital marketing and public relations agency, Bell + Ivy.

The Millennium Alliance is mentioned in Platform, check out our feature below!

Platform is the indispensable guide to developing a personal brand, finding an audience, and nurturing followers, by digital marketing thought-leader Cynthia Johnson, hitting shelves next week!

About Cynthia Johnson

Cynthia Johnson is a global entrepreneur, marketing professional, author and keynote speaker. She is Co-Founder at Bell +Ivy, a marketing and PR firm in Santa Monica, CA, and Las Vegas, NV. Previously, she was Partner & Director of Marketing for RankLab, a digital marketing agency listed in Inc. Magazine’s Fastest Growing Private Companies in 2015. In July 2015 RankLab was acquired by American Addiction Centers. She is an Advisory Board member for The Millennium Alliance, a leading technology, business, and educational advisory firm serving Fortune 1000 C-Level executives.

Cynthia has been a keynote speaker for companies and events such as Alibaba Group in China, World Government Summit in Dubai, Global Ventures Summit in Indonesia and Mexico, and Web Summit in Lisbon, among others. She has been involved in influencer and marketing campaigns for PayPal, Joseph Carr Wines, and several other leading brands. Cynthia was listed as top personal branding experts in 2017 by Entrepreneur, top 50 marketers on SnapChat by Mashable, top 12 Female Entrepreneurs that Inspire by Darling Magazine, and top 20 people in SEO by Guardian. She is a contributing columnist to Entrepreneur, and has had work published in Forbes, TIME, and several other industry-specific and top-tier publications. Her first book Platform will be published in February 2019 with Penguin Random House.

Phil Fasano, CEO of Bay Advisors and Former Global CIO To Keynote Upcoming Digital Enterprise Transformation Assembly

The Millennium Alliance is excited to announce Phil Fasano, CEO of Bay Advisors and Former Global CIO will be our Keynote Speaker at The Digital Enterprise Transformation Assembly taking place at The Mandarin Oriental in Miami, FL from June 25-26, 2019.

About Phil Fasano:

Philip Fasano is a visionary thought leader, award-winning corporate executive and Fortune 500 board level business strategy expert who brings more than 20 years of experience in the financial services, technology, insurance and healthcare industries. He is widely respected as an expert on technology innovation, risk management, financial growth and oversight, corporate governance, cybersecurity, and public policy, among others.

Currently serving as Chief Executive Officer (CEO) at Bay Advisors LLC, a strategic advisory firm he founded, Fasano is considered an influential voice in the push to evolve how companies create, market and use technologies to transform future growth and profitability, customer engagement and sales, internal and external operations, and ultimately to provide products and services that productively transform our world. Current advisory clients include Virtual Rehab, Open Data Group, Zenefits, NeoEyed, Espressive, Semefone, Microstrategy, Emirates Airlines and Genpact.

In addition, Fasano is working directly to fill advisory or board roles within the portfolios at numerous venture capitalist fund and private equity firms, including SymphonyAI, Wing, Sierra Ventures and others. He also serves on the boards of the New York Institute of Technology, New York Academy of Medicine, OpenData Group, and Fornetex. Fasano is a sought-after award-winning media spokesperson who has been interviewed and quoted by numerous prestigious national media, including Forbes, Fortune, The Wall Street Journal, Reuters, The New York Times, CIO Magazine, US News and World Report, InfoWorld, San Francisco Business Times, The Denver Post, Modern Healthcare, Technology Week,Healthcare Executive, ComputerWorld and TedMed, among many others.

Prior to founding his new consultancy, Fasano served as the first Global Chief Information Officer (CIO) and Executive Vice President (EVP) at the Fortune 500 global insurance company American International Group (AIG). At AIG, he worked as a part of the Executive Leadership Team and led AIG Technologies as Chairman of the Board of Directors. In these roles, he guided global technology strategy, capabilities and operations for more than 65,000 employees within 120 countries, including the USA, UK, Japan, as well as many in continental Europe, among others. Fasano also served in many other key leadership roles at Fortune 500 companies. Prior to AIG, he served as CIO and EVP at Kaiser Permanente (KP), the largest managed care organization in the United States. At Kaiser, his role had COO responsibilities in addition to IT, successfully drive the turnaround of technology capabilities and overseeing all central operations, including marketing, strategy, company vision and innovation.

Described as the “Steve Jobs of Healthcare,” Fasano is the author of Transforming Health Care: The Financial Impact of Technology, Electronic Tools, and Data Mining (2013, John Wiley & Sons), a futurist perspective on how technology is transforming the healthcare industry and what it will mean for future investors and entrepreneurs. Before joining KP, Fasano served as Senior Vice President (SVP) and Chief Business Information Officer at Capital One, CIO and SVP at J. P. Morgan Chase, CIO and EVP at Deutsche Financial Services, and Managing Director of Global Trading and Private Banking at Bankers Trust, to name a few. During his career, Fasano served on many Boards (member or peer) for innovative companies and organizations, including Cisco Systems, Oracle, Sprint, Hewlett-Packard Company, CIO Strategy Exchange, Infoblox, NCIRE: The Veteran’s Health Research Institute, Diamond Exchange and McKinsey & Company.

Under Fasano’s leadership, Kaiser’s IT initiatives received numerous awards, including upwards of ten Continuous Availability Awards from Uptime Institute (a globally recognized advisory organization), four consecutive years from Computerworld for 100 Best Places to Work in IT and Top 12 Green-IT Organizations, and a Healthcare Information and Management Systems Society (HIMSS) Davies Award, (the top award for healthcare IT excellence across all aspects of care delivery). While at AIG, Fasano was awarded the CIO 100 Award for IT innovation that drives business results and the ACORD Case Study Award, an internationally recognized insurance industry award for a business process improvement in data governance, standards, and data risk. Fasano was inducted to the CIO Hall of Fame, the summer of 2017.

In his spare time, you will find Phil enjoying life with family and good friends. He lives in Virginia and Northern California with his wife, Judy and five adult children.

About The Digital Enterprise Transformational Assembly

The Millennium Alliance is thrilled to present our bi-annual Digital Enterprise Transformation Assembly, put together by the industry, for the industry. Join us in Miami, FL.

34 Tech Companies Have Come Together To Stand Behind Cybersecurity

Progress was made in the tech world today, specifically in the cybersecurity realm, thanks to 34 global technology and security companies who took part in a Cybersecurity Tech Accord.

The news broke on all major media outlets, and soon enough, social media sites like LinkedIn caught on. Why? Well, it may have something to do with the fact that this is the first time that a large group of companies has agreed on something so important like cybersecurity. The magnitude of this topic is so important because cybersecurity is affecting customers on a large scale everyday.

Cybersecurity: No More?

The idea that of cybersecurity is one that can send shivers down the spines of customers everywhere, especially those who have fallen victim to online crime. Besides from customers, enterprises suffer when cybercrime strikes as well, because of the constant fear of failing to protect their own customers.

“The devastating attacks from the past year demonstrate that cybersecurity is not just about what any single company can do but also about what we can all do together,” said Microsoft President Brad Smith.” Cyber Tech Accord reports.

Unfortunately, even in the modern world we live in, there are very little solutions to cybercrime. Protecting your company and customers against malware malicious attacks by cybercriminals is not only a priority, it is a necessity at this point, and now, major tech giants are backing these efforts.

Enterprises Come Together

Now, 34 security and tech companies came together in order to sign an agreement that vows to defend customers from the vicious world of cybercrime.

“The 34 companies include ABB, Arm, Cisco, Facebook, HP, HPE, Microsoft, Nokia, Oracle, and Trend Micro, and together represent operators of technologies that power the world’s internet communication and information infrastructure.” Cyber Tech Accord reports.

These companies have promised for a stronger defense against cybercrime, and to above all else, protect customers no matter what walk of life they come from, or how serious or dangerous the attack is by signing a tech sector accord. The accord is meant to help take a principled path towards more solutions that will defend customers from attacks.

The Cybersecurity Tech Accord

The tech industry has rallied around The Cybersecurity Tech Accord, by promising to be devoted to protecting against vicious crime online. First, all major companies promised to recognize that protection is needed among all customers and organizations.

Next, the companies will not participate in any type of government cyber attacks against citizens and enterprises. Instead, the companies will protect against tampering with their products and services by being involved in each and every stage of the tech development that takes place.

All 34 companies have agreed to empower technology, and encourage it among enterprises and customers, regardless of prior principals and beliefs.

“The Tech Accord remains open to consideration of new private sector signatories, large or small and regardless of sector, who are trusted, have high cybersecurity standards and will adhere unreservedly to the Accord’s principles.” Cyber Tech Accord reports.

Overall, this accord will help push positive efforts about cybersecurity forward. It will work on taking action against cybercrime online, and most importantly, will protect customers from attacks. The fact that top tech enterprises are coming together to agree on one movement, proves that this topic is not just important, but it is essential that it is taken seriously.

ABOUT TRANSFORMATIONAL CISO EAST IN CHARLOTTE, NC

Due to the success of our National Transformational CISO Assembly, in 2019 The Millennium Alliance in partnership with our Advisory Board, is launching the first Transformation CISO East Coast.

This exclusive Assembly will bring industry experts and the best solution providers to our CISO Members based on the East Coast.

Are you a CISO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

The Challenge For Content Creators Today

“Content is king” – Bill Gates

Creating content is hard. Producing high quality, high volume, consistent content is even harder. That being said, marketers to the C-Suite know the content challenges all too well. It can be even harder when your teams are siloed and duplicating efforts for different channels, which ultimately leads to difficulties.

While it is indisputable that content marketing is making waves in the business world, many marketers still complain about challenges they face on a daily basis. Now, consumers are demanding the right content – when and where they want it, and how they want to receive it. With many brands struggle to respond, one solution remains clear in the midst of uncertainty: Optimization.

What happens when you optimize your content?

If you feel as though your content production has slowed down, it may be time to revaluate the processes within your teams. If you have extra steps, tools and processes in your content production, this may be slowing you down. Over the last few years, we have seen companies add to their marketing departments for specific needs, bending their workflows to accommodate poorly matched tools and systems. As a result, this can leave these companies unable to produce consistent content fast enough.

According to Better Ways by Quad, there is a better way. Brands that optimize their creative operations processes can:

Get to market faster with better content
Use the best technology for what they need
Have the right people doing the right things
Have resources that make them more productive
Get more efficient every day

To optimize, you have to know what your inefficiencies are. Since one size never fits all, it could be sufficient to think about how you would like your production process to work. Although your personnel, your products, your mission and your consumers are completely unique, if a business were to think strategically, you can get your marketing team moving toward the same endpoint – ultimately resulting in a optimized and streamlined content marketing effort that your customers will notice.

Keeping the end (and your brand) in focus

With an optimized workflow, you can expect major changes to efficiency in all aspects of your company. By eliminating redundancies and lowering overhead, your teams will be able to focus on more strategic initiatives for your company, not on what you need right now just to get by and into the perspective of your customers.

With more channels and more content to produce as customers demand more and more, simplifying and doing less can be tough. Breaking down what you need and what you need to do in order to get there will reduce inconsistencies in your content and ultimately strengthen your brand identity.

ABOUT TRANSFORMATIONAL CMO ASSEMBLY

The digital revolution has forever changed the balance of power between individual consumers and brands. This need to think “customer first” has made the marketing function more vital than ever before.

C-Level executives around the world are anticipating that digital technology will continue to drive business. We’ve put together a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions with our industry experts and advisory board.

Are you a CMO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Download your copy of the sponsorship prospectus to see if you are eligible to sponsor this event >>

Starting Your Digital Transformation? Think About This First

Technology is amazing. It shapes the world we live in today. It advances industries, like healthcare, marketing, retail, and the list goes on. Technology is growing and will continue to grow for years to come. The problem with the rapid growth of technology?

We must learn to grow with it.

“Business technology has evolved a lot in the last few decades, and the speed of this change has increased exponentially in recent years.”

I read reports frequently that suggest the fear about human beings not being able to keep up with the pace of technology. This is where the fear of “robots taking over the world” comes from. Aside from this dramatic approach, we reflect on how businesses can tackle these changes, embrace the advances that technology brings and even better, reap the benefits of having an updated infrastructure.

A new report from Forbes Technology Council helps business leaders understand just how to approach technology and use it to their advantage.

“Of course, the challenge with adopting new tech tools is figuring out what to do with outdated legacy systems. For many companies, the answer is either modifying their old technologies or scrapping them completely in favor of a more modern solution.” Forbes reports.

If It Ain’t Broke, Don’t Fix It Mentality

Many businesses have the mentality “if it ain’t broke don’t fix it.” This simply means that new systems being introduced to businesses may be intimidating, and unappealing. The secret to success is making sure that this mentality quite simply goes out the window.

Instead of rewriting entirely new infrastructures to fit technology in, businesses can try to understand old systems from top to bottom, in order to build a better and more efficient structure.

New platforms may be hard to introduce to the different functions of the enterprise, so without completely shocking every member of the company to this change, it may be easier for companies to rewrite old systems to just include these new changes.

This may also reveal the systems that you should keep in your business.

“Either a system is important enough to support the cost or it needs to be eliminated. Don’t drown in maintaining unimportant systems.” Forbes reports.

Understand What You Can, And Can Not Do

Before making a huge change to your business, it is important to understand exactly what your infrastructure is capable of. Being honest and upfront from the beginning of the process will allow for a technology transition that makes sense for all parties involved.

This can involve anything from pricing, and understanding how much manpower is required to execute certain jobs. If your infrastructure can’t support such changes, you can proceed with baby steps to make sure technology still plays a role in your business.

All in all, a technology makeover is great for any business to undergo. Before proceeding, make sure to follow simple steps to fully understand the impact of tech improvements.

ABOUT TRANSFORMATION CISO ASSEMBLY

The Millennium Alliance is thrilled to present our bi-annual Transformational CISO Assembly, taking place in Nashville, TN.

With the instances of cyber attacks increasing, businesses of all sizes are working tirelessly to secure their networks, devices, and data. Fortune 500 organizations are especially vulnerable as they have big data pools and thousands of people who need access. CISOs need to plan for worst-case scenarios, stay ahead of the latest IT Security transformation technology, and maintain their company’s information assets, all without losing sight of the corporate culture.

It’s Out Of This World! Samsung and NASA Partner On Immersive Moon Experience

With the 50th anniversary of the Apollo Program coming up this summer, the public surge of interest in space exploration has increased, especially as a trip to Mars becomes more realistic and possible. Due to this interest, NASA is working with Samsung to give the public a taste of what it is like to embark on a mission to the moon in “A Moon for All Mankind”.

The Complete VR Experience

Opening to the public this July in New York City, Samsung is debuting the immersive, 4D lunar gravity virtual reality experience “A Moon for All Mankind”. The experience will use the Samsung Galaxy S9+ smartphone and Oculus-powered Gear VR headset to gift customers will the power of a complete insight into what it is like to be apart of a mission to the moon.

Experiences like “A Moon for All Mankind” will give people a true chance to engage with brands and experiment with VR technology, which is still relatively new and yet to gain widespread traction across all industries.

How Does It Work?

To recreate a realistic moon mission, Samsung collaborated with the team working on the Active Response Gravity Offload System, which trains astronauts to function in low-gravity environments, at NASA’s Johnson Space Center in Houston. The experience was also created in partnership with creative agency Iris and creative studio Framestore.

“Visitors can experience a full space mission, including a briefing about how astronauts move on the moon. They will wear a flight suit, harness and Gear VR headset to experience what it’s like to walk on the moon. The headset uses dedicated sensors and a wide viewing field to offer an immersive experience” MarketingDive reports.

Since VR is not ubiquitous just yet, this partnership presents an interesting way to introduce the public to it, especially since it is based around an experience very few living people have had since the Apollo mission took us to the moon in 1969.

Get Excited For July!

The timing around the Apollo anniversary makes it a more meaningful experience than just showing off new technology, and it is a smart way for Samsung to generate more interest in the other virtual reality projects they have recently launched, including some sports and entertainment ventures last year that included VR content partnerships with NBC for coverage of the 2016 Summer Olympic Games in Rio and Six Flags to add VR roller coasters to its amusement parks.

Just by glimpsing into the future, it is exciting to think about where VR can take us as technology continues to advance. The C-level suite is slowly taking notice of this technology, and when they uncover the infinite possibilities VR, it will be likely that business will be forever altered from as we know it. Overall, this creative campaign taps into Samsung’s technology in a smart way and ties it to a bigger cultural experience at the right time, which is what is sometimes needed to begin a true technological transition.

ABOUT DIGITAL RETAIL TRANSFORMATION EAST

In the 21st century, retail is an ever-shifting landscape. Today’s cutting-edge trend is

tomorrow’s outmoded way of doing business. Customers and their preferences can change with startling speed, and retailers who don’t keep up risk getting left behind by their more ambitious competitors. What can you look forward to next year? Our regional Digital Retail Transformation East assembly is here to answer just that.

Are you an executive in Digital Retail interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Looking Backward To Move Forward: Payments In 2019

Originally posted on Forbes.

As Justin Trudeau remarked at the World Economic Forum earlier this year, “The pace of change has never been this fast, yet it will never be this slow again.” That message rings true in payments, where each year the level of innovation and progress continues to accelerate, creating new market dynamics, opportunities and challenges for all participants.There was no shortage of developments in payments in 2018. The following stood out as particularly significant:

PayPal goes on a shopping spree. In Q2 PayPal made four acquisitions, purchasing iZettle($2.2bn) to expand its SMB footprint in Europe, Jetlore to deepen its personalization capabilities, Hyperwallet ($400m) to expand its marketplace payments strategy and Simility ($120m) to enhance its anti-fraud suite.
Stripe’s value proposition deepens. In July Stripe made a seemingly unexpected yet highly strategic move into the issuer-processor sector with the launch of Stripe Issuing. Two months later it launched Stripe Terminal (following its acquisition of Index earlier in the year) to expand into brick-and-mortar payments.
Adyen goes public. Following its win of eBay’s processing business in February, Adyen enjoyed a successful IPO in June, listing on Euronext Amsterdam. With the offer price set at €240 ($272.37), shares are now north of €450 and its market cap exceeds €13bn.
Payment Services Directive 2 goes into effect. PSD2 took effect in the EU in January, bringing about significant changes pertaining to customer authentication and open banking. While the full effects have yet to be seen, the stage has been set for a significant shift in retail banking strategies.
Visa and Mastercard get behind Secure Remote Commerce (SRC). In an effort to create a consistent, secure and streamlined checkout flow for digital commerce, Visa and Mastercard are guiding the card payment ecosystem toward EMVCo’s SRC framework, which remains in development.
Vantiv closes Worldpay deal. Cincinnati-based Vantiv acquired London-based Worldpay in August 2017 in a deal valued at roughly $10.5bn. The acquisition officially closed in January, creating a global payment processing powerhouse, handling $40bn in annual transactions and $1.5 trillion in payment volume.
Zelle expands in its first full year live. Zelle, US banks’ response to Venmo and Square’s Cash App, saw P2P transaction volume increase 83% Y/Y (from Q3 2017 to Q3 2018), with 375 million transactions valued at $106bn processed in that time.
Verifone overtaken by private equity. Amid challenging times in the POS hardware market, Verifone was acquired by PE-firm Francisco Partners in April in a $3.4bn deal.

While 2019 has much to live up to to match 2018’s tempo, the following three trends will play an important role in influencing market developments and catalyzing progress in the year ahead:

Mobile (officially) takes center stage

According to 451 Research’s newly launched Global Unified Commerce Forecast, purchases made online are increasing more than six times as fast as those made in-store, and globally will account for nearly one out of every five dollars spent by 2022.

Double-clicking on the rapid rate of digital commerce expansion, another growth story emerges. Transactions initiated on smartphones and tablets in mobile apps and browsers are growing at a 24.5% CAGR through 2022, compared with 16.9% for e-commerce. This disparity in growth rates means mobile is increasing its share of digital commerce, at the expense of e-commerce.

In 2019, a mobile inflection point will be reached, where the volume of m-commerce transactions will surpass e-commerce for the first time globally. By 2022, mobile will deepen its lead as the dominant commerce platform, with its share of global digital commerce transactions increasing to 55%.

The implications of this shift for payments and commerce stakeholders are many. Consumers will increasingly expect to find, engage and transact with businesses in a single interaction, all from the comfort of a handheld device. While clunky e-commerce experiences can be tolerated to some extent, consumer tolerance for friction on mobile is significantly lower due to the small screen size. Businesses serving m-commerce customers must work to execute on shoppers’ desire for speed and ease-of-use, such as by eliminating laborious data entry and implementing responsive design.

Machine learning permeates the value chain

The past 18 months have seen increasing interest in AI and ML from participants across the payments and banking value chains. According to 451 Research’s Voice of the Enterprise: Artificial Intelligence/Machine Learning 2018 survey, financial services companies are among the furthest along in implementing ML, with more than one in five having already deployed, and an additional 31% currently developing ML capabilities or planning to within the next 12 months.

Fraud detection has emerged as the top AI/ML use case for financial services organizations in our global survey, with 42% of those currently using or planning to use citing it as their main business reason why. Several payments providers have already deployed ML-driven anti-fraud products into the market themselves, such as Stripe’s Radar offering. Others have chosen to add those capabilities inorganically, as evidenced by Mastercard’s reach for Brighterion in 2017 and PayPal’s $120m acquisition of Simility in June. More AI/ML-related anti-fraud acquisitions can be expected in 2019 as networks, issuers and processors look to better identify account takeovers, new account fraud, fraudulent transactions, false positives and other types of loss-generating events through improved utilization of transaction data. A variety of anti-fraud startups utilizing AI/ML remain up for grabs, including Feedzai, Forter, Sift Science and Kount.

In 2019, increased utilization of AI/ML for revenue optimization in merchant acquiring and processing will also be apparent. A top area of focus will be transaction declines, where ML-powered services like Adyen’s RevenueProtect and Worldpay’s AuthMax are already showing early evidence of the technology’s ability to lift authorization rates for merchants. Those processors best able to deploy ML to enhance revenue for their merchant customers will be best positioned to create stickier relationships centered on value instead of price.

Infrastructure moves into focus

The bulk of today’s innovation in payments is derived from the veneer that’s being built on top of existing infrastructure. Many of the most successful payments startups have dedicated themselves to building an abstraction layer that simplifies access to things like payment processing by creating an on-boarding process and interface that eliminates the complexity of working with decades-old infrastructure. This abstraction layer approach to payments has undoubtedly unlocked significant value, but deeper problems below the surface need solving to ensure long-term scalability.

In 2019, payments infrastructure will become a growing innovation area as financial institutions, payments providers and merchants look to prepare for the long-term needs of the market. Several trends driving the growing focus on infrastructure include:

Enterprises refocus on payments to meet rising customer expectations. Large retailers increasingly understand that payments are at the core of delivering a compelling shopping experience, but their ability to innovate is often held back by infrastructure limitations. In a global study conducted by 451 Research and commissioned by Stripe, ‘existing legacy infrastructure’ ranked as a top-four challenge faced by enterprise merchants when looking to implement new payment and commerce technologies, cited by 35% of respondents.
Real time races forward. Zelle has provided an early glimpse of real-time payments in the US, but much work remains before the country’s payment rails operate akin to real-time markets like the UK and Singapore. This will be a pivotal year for real-time payments as the Federal Reserve evaluates an entry into the market via its proposed Real Time Gross Settlement service and bank-owned The Clearing House looks to scale up its Real Time Payments system, which launched in late 2017.
Developer-centric distribution strategies take off. 2019 will be a defining year for integrated payments, since large players that have moved into the market inorganically (e.g., TSYS via its purchase of Cayan) have now digested their targets and will look to start executing more aggressively. The push toward developer-centric strategies can also be seen among POS terminal manufacturers (e.g., Ingenico, Verifone) and payment networks (e.g., Visa, Mastercard) that have launched API portals to expand collaboration with software and technology companies.

About Jordan McKee

I’m a Research Director at 451 Research, a leading IT research and advisory firm focused on innovation and emerging technologies. I direct 451’s global coverage of the payments ecosystem, with an emphasis on the major trends impacting payment networks, issuing and acquiring banks, payment processors and point-of-sale providers. Prior to 451 I was an analyst at mobility research firm Yankee Group covering mobile money strategies. I am listed on the Electronic Transactions Association’s Forty Under 40 list for 2018 and speak regularly at a variety client and industry events, including SXSW, Money20/20 and Interop. Additionally, I serve as a judge for the GSMA’s Global Mobile Awards. I hold a bachelor’s degree with a concentration in marketing from Bryant University.

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Digital transformation has set its sights on the financial services and insurance industries. CIOs from North America’s top institutions are working to leverage new technology such as Artificial Intelligence to deliver products and services that answering changing customer needs.

While financial services and insurance CIOs will deal with many challenges in the coming years, one particular technological challenge raises to the top – dealing with the complexity of data. The massive explosion in data is creating unprecedented manageability issues for firms around the world. As firms expand customer touch points through the use of digital platforms like social media, CIOs are dealing with an overwhelming volume of structured and unstructured data, resulting in an increased need for tighter security.

Super Bowl 2019: What To Expect For Marketing

The two participating teams for the Super Bowl 2019 have recently been confirmed: New England Patriots will take on the Los Angeles Rams in Atlanta, Georgia on February 3rd.

Besides the parties and great company to look forward to, consumers also are preparing for the highly anticipated Super Bowl commercials making their debut on this special day in football. The best part? We get to judge and take away key components of each commercial and even see some previews beforehand.

That’s where Digital Diary comes in. Let’s take a look at what we can look forward to.

One word: Beer!

If we know one thing for sure, it is that beer makes a pretty big impact on the SuperBowl. It has become a signature drink among fans and beer brands have taken full advantage of this. This year will be no different as brands gear up to present unique ads.

Last year, Natural Light made a big splash in the commercial space when it comes to advertising its product. In an attempt to draw the attention of Millennials with college debt, the beer company started a “College Debt Relief Program.” And it’s back for a second year.

“So, Natty Light is not only bringing back its College Debt Relief Program in 2019 but has also pledged to give away $10,000,000 over the next 10 years to help pay down student loans.” PR Newswire reports.

Yup, college students, you heard it here first. Natty Lite wants to help pay down your loans. What better way to display this than the SuperBowl? All it takes is entering an inspiring story, social media, and #NattyStories & #Contest attached to both.

In an effort to remind fans about the good service Natty Lite did last year, it will display last year’s winners in this year’s SuperBowl commercial.

Not only is Natural Lite attempting to give back to their loyal customers, but they are also expressing a message of empathy and relatable content that will resonate with many young fans tuning in on February 3rd.

Audi Is Back In The Game

Audi, the luxury automaker will return to the SuperBowl displaying its ambitions and vision for the coming year. Move over Elon Musk, electric cars are in this companies future as well.

This will be Audi’s 10th SuperBowl appearance, after skipping last years. You will be able to watch during the second quarter for 60-seconds.

Gillette Strikes Controversy

Last week, razor brand Gillette made headlines by releasing a very controversial advertisement ahead of the SuperBowl.

Once the commercial hit the air, critics were quick to draw their own opinions about the message of the ad.

“Gillette strategically released this ad just before the Super Bowl to benefit from the spotlight on advertisements, but without getting lost in the clutter of Super Bowl Sunday,” ad expert Spencer Gerrol said. He is chief executive officer of SPARK Neuro, a research firm that uses neuroscience to study how brains react to advertisements and entertainment. USA Today reports.

Basically, the ad sends a strong message about changing the conversation among men, following a very similar context to the #MeToo movement that we saw last year.

The ad is set to take the stage at the SuperBowl, where you can view it if you haven’t already.

The SuperBowl is definitely not going to disappoint with these commercials and many more. So sit back, relax and enjoy the show.

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North America’s most prominent digital marketing technology and business leaders from all major consumer-driven industries to discuss the latest technology, innovations, and strategies driving digital marketing in 2019 and beyond.

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