Technology

Five Key Technologies That Will Reduce The Strain On Privacy

A study by the World Economic Forum identifies a series of new technologies that banks and other institutions can implement to exchange data in order to protect privacy between them. This exchange allows a comprehensive analysis to identify possible risks in the industry and prevent financial crises.

Beyond the benefits to the system, this type of technology, called “privacy improvement techniques” helps improve data exchange with the aim of preventing fraud and offering advice financial, among other useful functions.

In this way, these techniques allow reducing the tensions that arise from the exchange of data. Instead of threatening the privacy of the client, this new technological wave protects and improves the collaboration of the industry.

This type of technology has been around for years, but it is now when they are ready to implement in the real world of banking and other types of financial services. If these tools are used, they will be a new era of the much more collaborative sector in matters related to risk and product development.

These five technologies specified in the World Economic Forum are:

  • Differential privacy: it is a statistical system that allows data collection and analysis without compromising the identity and privacy of those who provide such data.
  • Federated analysis: each of the parties share the ideas of their analysis without sharing the data itself.
  • Homomorphic encryption: data is encrypted before sharing. This allows them to be analyzed, but not decoded in the original information. This type of figure prevents organizations from using cloud computing to extract data.
  • Zero-knowledge tests: users can demonstrate their knowledge of value without revealing the value itself.
  • Multi-part secure calculation: data analysis is distributed among multiple parts so that no single part can see the complete set of inputs.

The report describes how each technique works at a high level (thinking of a non-technical audience) and illustrates how this technology could be used in the financial industry through several hypothetical use cases.

These technologies, used separately or together, greatly reduce the risks associated with data exchange and have the potential to redefine the dynamics of data exchange in financial services fundamentally. Opportunities for these technologies include the ability to:

  • Improve detection and prevention of fraudulent activities
  • Identify the risks of the entire system and prevent financial crises
  • Allow new forms of personalized digital advice

Putting them into practice will require a certain degree of technological experimentation. However, the benefits of large-scale adoption are clear and speak of greater alignment and action among stakeholders, the key to issues of systematic importance.…

Five Technologies That Will Surprise You In 2020

Constant change and innovation without limits have been part of our reality during the last decades. And it has become a reality the fact that every year brings new ways of doing things, new platforms, programs, and technological options that not only affect the way we work, think, or even live.

Cybersecurity

This is a topic that has been booming for a few years and will continue to be a priority in 2020. Protecting all the digital information, data, and the range of content that each person has or generates on the internet has gained more and more important as they pass years. Therefore, for next year, there will be more and more advanced cryptographic techniques, innovative ways to protect your identity on the web, and the rules on how it is the best way to strengthen security in the online world.

Edge Computing

This technology is a new way to process and understand data. Basically, until now, all the devices that collect data or that are associated with the Internet of Things were responsible for acquiring this data and then uploading it to the ‘cloud.’ However, edge computing aims to change this “passive” behavior with its new philosophy. And this development allows the data to be analyzed closer to where they were created or collected, saving time and giving results or analysis practically in real-time.

Artificial Intelligence

Although there have been several years in which artificial intelligence has been highly relevant, in 2020, it seems to be even more so. And it is in this advance of technology is where today many hopes are placed on improving the day to day of companies. This is because it is the ideal tool to improve customer experience, facilitate services, and manage information more efficiently and productively. And although we already know a little about the way in which this technology works, we must think that next year the idea is to be incorporated in a more organic, more intuitive, and a more ‘natural’ way for users.

Data for Decisions

Decision making within a business is always one of the most important pillars. That is why in the face of the new one that comes, technologies such as the Internet of Things or Big Data analysis continue to occupy the highest positions in the ranking. The idea of ​​being able to use data to give a basis or support to an important decision is a way to ensure that the decision will be well-founded and that in one way or another, there is evidence that serves as proof of why it will work.

5G Technology

Although we have been preparing for the arrival of 5g technology for years, 2020 seems to be the year in which this technology will shine like never before. And although it has not yet been launched, experts say it is a more up-to-date, faster, more stable, and, above all, stronger connectivity, which will revolutionize the way in which we understand, process, and act on information.…

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