Tag: Product Engineering

Best Practices for Protecting Data on Connected Devices in Hitech

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Key Takeaways:

  1. IoT networks are expanding all the time – but are vulnerable to cyberthreats
  2. Limited compute power, legacy firmware and a lack of visibility can all be exploited
  3. A proactive, multi-layered approach can extend strong security network-wide
  4. Expert implementation can tailor security solutions to specific organizational needs

If your organization works with advanced technology, then you’ll almost certainly have expanded your use of connected devices and the Internet of Things (IoT) in recent years. At present, there are believed to be nearly 20 billion IoT devices in existence around the world – and this total is forecast to double by 2034.

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The Impact of GIS Data on the Insurance Industry: A Strategic Framework

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Key Takeaways:

  1. Unpredictable climate is accelerating demand for GIS data in the insurance industry
  2. Real-time mapping enables smarter, faster decisions.
  3. Increased ROI through precise risk assessment and faster claims

The Digital Revolution in Insurance

In today’s digital-first world, the insurance industry faces new challenges: rising risk from climate change and evolving customer expectations. One tool that’s helping them overcome these challenges is Geographic Information Systems (GIS). In insurance, data derived through GIS applications enables smarter underwriting, faster claims validation, and sharper risk visibility.

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Design by Data: How Social Media Micro-Trends Are Reshaping Product Development

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Key Takeaways:

  1. New trends emerge and die out quickly on social media platforms
  2. Agile product development allows retailers to get to market fast and take advantage
  3. AI and machine learning can reveal new consumer trends earlier than ever before
  4. Evolving design processes is key to expediting development workflows

The advent of social media and digitally led product development has turned the world of retail on its head. Trends that previously lasted 10 or 20 years now only last months or even weeks. In turn, product development that previously may have taken 24 months has been dramatically compressed, with some retailers able to get new products to market in as little as 24 hours.

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How Photonic Quantum Computing Solves Complex Financial Modeling Challenges

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Key Takeaways:

  1. Financial modeling has been held back by limited insights and a lack of agility
  2. Photonic quantum computing adds new levels of speed, accuracy and computing power
  3. Fraud detection, portfolio optimization and risk management can all be transformed
  4. Quantum expertise and pilot projects are vital for sustained long-term success

Financial modeling systems have an essential part to play in enabling informed decision-making and predicting the future as accurately as possible. However, many of these systems haven’t met financial services firms’ requirements or expectations: this can be because of human errors, flawed assumptions, complex models and a lack of proper documentation and validation.

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How Mobile Financial Applications are Driving Innovation in the Digital Finance Era

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Key Takeaways:

  1. Consumers are coming to expect secure, personalized, user-friendly finance apps
  2. New innovations better serve underbanked communities and lower costs
  3. Integrated ‘super apps’ and AI assistants are leading new developments
  4. Working with expert partners to remain competitive is vital

Mobile banking has come on leaps and bounds in recent years. It wasn’t so long ago that we at Ciklum were developing simple SMS and WAP-based banking services, but these have rapidly evolved into the mobile banking applications we use everyday on our smartphones. 

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Digital Assurance in MedTech: Building Safe, Compliant Software That Lasts

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Key Takeaways:

  1. MedTech software now rivals hardware in clinical importance.
  2. Digital assurance embeds software quality, compliance, and risk control.
  3. ISO and IEC standards are core to FDA compliance and software delivery.
  4. SaMD provides insights on its own while SiMD supports device function.

Software is becoming just as critical, if not more so, than the hardware in modern medical devices. A mobile app might now deliver real-time glucose readings from a wearable sensor. An AI algorithm might detect signs of stroke on a CT scan before a radiologist does. The examples are growing by the day.

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Travel Predictions 2025: The Future of Travel and Customer Experience

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Key Takeaways:

  1. Customer expectations are redefining travel business offerings
  2. Integration, personalization and flexibility are key
  3. AI and augmented/virtual reality will drive future changes
  4. Differentiation through tech is vital for market share

Travel Predictions 2025: The Future of Travel and Customer Experience

The travel industry has been fundamentally transformed in recent years – from new technologies enabling mobile booking and AI-powered personalization, to the disruption of the COVID-19 pandemic changing the game regarding remote work and business travel.

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What’s Next for Retail in 2025: Ciklum’s Predictions

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Key Takeaways:

  • The retail sector continues to evolve at pace
  • Technology blending physical and digital is driving innovation
  • Seamless, unified experiences are crucial for customer satisfaction
  • Cost efficiency is a priority amid economic turbulence

Future of Retail 2025: Ciklum’s Predictions

The retail sector is experiencing rapid digital transformation, driven by evolving consumer expectations. According to Gartner, 86% of customer service leaders across all industries say improving customer experience is a top priority for them.

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Cyberattacks in Australia’s Critical Infrastructure: The Growing Need for Cybersecurity Awareness and Resilience

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A recent report by the Australian Signals Directorate has revealed a stark reality. Over 11% of all cybersecurity incidents in the past year targeted critical infrastructure, encompassing vital services like electricity, water, gas, education, and transportation. This unsettling trend underscores the urgent need for organizations to bolster their security posture, as the frequency and sophistication of cyberattacks – continue to grow.

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Fintech Innovations: Software Solutions for Fraud Prevention in Finance

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Key Takeaways:

  1. Cybercrime and fraud is a pressing issue for FinTechs
  2. Fraud prevention and detection should go hand-in-hand
  3. AI can be instrumental in spotting unusual patterns of behavior
  4. Human education and best practice should also be considered

Fintech Innovations: Software Solutions for Fraud Prevention in Finance

Digital transformation is proving to be a real game-changer in the finance world – but increasing adoption also means increased risk of fraud. According to Gartner, nearly 80% of finance organizations have invested in artificial intelligence technologies, but only a quarter have a mature AI strategy in place.

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