New York City
Incedo Innovation Series: Emerging Technologies and Innovation in the Enterprise
As a part of Incedo Innovation Series, we hosted a panel discussion on ‘Emerging Technologies and Innovation in the Enterprise’ on March 30, 2017 at the Harvard Club in New York City.
Eminent Industry Leaders discussed new trends in emerging technologies and their implications for enterprises. This panel discussion was moderated by Anurag Rana - Sector Head and Senior Equity Analyst for Software and IT Services at Bloomberg Intelligence.
Cloud, data science, chatbots, block-chain. New technologies emerge or become more sophisticated every year, but companies need to take the time to evaluate the solutions – what issues they solve, how they provide value, and what the unintended consequences may be – before they invest. What works in one business environment may not work in another, and you also have to understand your customers and what they want in order to determine what ROI you’ll receive.
There are several tipping point technologies in the industry currently, each with their own set of opportunities and unintended consequences. A lot of banks are taking on RPA, which is being utilized for everything from checking if someone is a money launderer to making customer service agents more productive – but will also eliminate a large portion of entry level jobs. There is also incredible buzz around machine learning for areas such as fraud detection, compliance, wealth management, online lending and more, but again, this technology may result in lost jobs or even unintended discrimination – for example, a machine may analyze a person’s credit and make a lending decision based on where they went to school and other factors that an actual human would not. And of course block-chain holds promise in many areas, but security has not been fully thought out. As new technologies emerge, enterprises constantly need to determine how to implement them and how to best innovate for the good of the company and their customers – as our panelists discussed at the event.
Sector Head & Senior Equity Analyst for Software and IT Services, Bloomberg
At Bloomberg, Anurag covers large-cap stocks including Microsoft,Oracle, SAP, Salesforce.com, Workday, VMware, Adobe, IBM, Accenture, Capgemini,Tata Consultancy Services, Infosys and Cognizant. Mr. Rana has covered the IT and Business Services sector since 2003 and was a Senior Analyst at KeyBanc Capital Markets Inc., prior to Bloomberg. Before that, he was with KeyCorp's risk management division focusing on market risk review for its Capital Markets group. Mr. Rana earned his MBA from SUNY Buffalo and his BS in physics from the University of Delhi.
Managing Director, Chief Operating Officer for Global Technology, BlackRock
“We don’t need tech for the cool factor. We want to know how it’s going to change things from a business perspective. We spend a lot of time separating out what we need the technology to do and the business value it needs to have.”
Ms. Dallmer serves as a member of the Global Operating Committee and the Technology & Operations Executive Committee. As a member of the senior leadership team, Ms. Dallmer partners with senior leadership to drive strategy, planning and execution to achieve business objectives. Ms. Dallmer joined BlackRock in October 2014 from NYSE Euronext where she was Chief Operating Officer and Executive Vice President for European Markets responsible for all aspects of the operating model. In this capacity she led a $1billion portfolio consisting of both product revenue and the pan-European consolidation of market services for European cash equity and fixed income trade operations for four years.
Award-winning Chief Information and Technology Officer, global executive, strategist and transformation expert.
“If you’re comfortable, you’re too comfortable. You have to try new things and fail fast. But ultimately, it’s about ‘what’s the value to us, to our customers, and how are you going to measure it?’ Nine times out of ten, that’s where the conversation stops.”
Steve Rubinow is a multifaceted, global executive, strategist and award-winning Chief Information and Technology Officer, with deep experience in transforming companies, working on many boards and teaching in university classrooms. Most recently he was EVP and CTO for Catalina, a personalized digital media company based in St. Petersburg, FL. Before that, Steve was CIO at Reuters’ Marketplaces Division in New York, NY. As Executive Vice President and Chief Information Officer at the New York Stock Exchange’s Euronext in New York, he was responsible for all aspects of technology for the largest global exchange in the world. He, combined operations across continents, and designed and developed new data centers, the financial industry’s first cloud and a new culture of innovation for global trading. In 2012 Steve won the CIO Hall of Fame award.
Global Head, CTO Data Services
“Whenever anything new comes up, in the early stages of adoption, there will be skills shortages, but the market forces eventually catch up. To combat this, our code logic is our intellectual property and the only thing that changes is the engines underneath it – the new tech coming in. Then all we have to do is train our team to use the new technology.”
Milind Nagnur is the Global Head of CTO Data Services organization enabling global functions and other sectors with modern solutions for all their data and analytics needs. Milind and his team deliver strategic solutions to clients focused on revenue discovery, regulatory compliance, and business performance transformation leveraging digital and data analytics. While at Citi, Milind has been a leader & a mentor for several notable programs, such as WLC’s DTP program & serves on the advisory board for Citi Ventures for the firm’s data and analytic investments. Milind has more than 18 years of business & IT experience across Data, IT Strategy, Architecture, Infrastructure and Application Development disciplines.
Head, Global Product Development and Innovation, Citi TTS
“We make sure that when we’re introducing new technologies, we’re thinking about the client’s journey. Are we just introducing tech, or are we changing the client’s experience? And does that attract more business, either from the client or from new clients?”
Ramiro Muñoz is head of global product development and innovation for Citi’s TTS Payments and Receivables business, based in NY. His team identifies new product solutions that drive differentiation and provide value to clients and to the growth of the Payments and Receivables business. The team manages the end to end development process from concept formation to strategy, business requirement, design and development, pilot launch, global rollout, and commercialization leveraging respective product capabilities to develop efficient, integrated and market-leading solutions that grow Citi’s market and wallet share, improve client experience and help reduce risks and costs. Ramiro has worked in Bogotá (Colombia), Miami, Lagos (Nigeria), Budapest (Hungary), and Los Angeles in multiple roles across retail and corporate banking. He holds bachelor’s and master’s degrees in engineering.