Blockchain is shaking-up entire industries as one of the most disruptive technologies of today. From banking and insurance to agriculture, energy, healthcare, and media, it is disrupting entire industries and is about to transform global supply chains, thanks to SAP Ariba. The company plans to leverage blockchain across its cloud-based applications and business network to upend the way goods and services are traded.
Northern Trust is working with IBM and other key stakeholders, to launch the first commercial deployment of blockchain technology for the private equity market. While private equity returns can be attractive, the infrastructure supporting private equity hasn’t changed much in recent years at a time when investors are looking for greater transparency, security and efficiency.
Blockchain technology, a type of database system that enables multiple parties to share access to the same data with a high level of confidence and security, could reduce infrastructure costs for eight of the world’s 10 largest investment banks by an average of 30 percent according to a new report by Accenture and McLagan which is part of Aon Hewitt, a business unit of Aon plc. This translates to roughly $8 billion to $12 billion in annual cost savings for those banks.
If business organizations are not thinking about the experience customers have with their respective organizations, they run the risk of becoming another casualty of disruptive business models. In this age of the digital enterprise, customers have extremely high expectations regarding their encounters with your products or services, and a transition is underway — from digital to the cognitive enterprise — that will take those expectations into the stratosphere.
As a military man, Major General Donald Dunbar knows that no battle plan, no matter how sound, survives an encounter with the enemy. It’s a fog-of-war principle that argues not against planning but for the ability to make adjustments on the fly.
The same applies to the fog of cyber war, and that’s why Dunbar, adjutant general with the Wisconsin National Guard, has forged an alliance with the state of Wisconsin and private businesses to develop a strategy to defend the homeland from cyber attacks. Not just any cyber attack but one that knocks the electrical grid out of commission for a prolonged period of time.
The Disruptive Healthcare Conference, held Tuesday in Madison, featured a keynote session titled, “Interoperability – Can’t we all get along ?” WTN News, invited senior executives from leading rival electronic medial records software vendors Epic and Cerner to publicly set the record and dispel disinformation about each company’s point of view on interoperability and patient data exchange. The conversation was civil and revolved many issues that the public has been exposed to and where these competitors agree and disagree on industry standards and how they should be adopted by their customers. Examples were cited that both company’s work closely togethe with mutual clients and when other healthcare provider organizations make a request to link their systems.
Heading into the event it may have been easy to assume that an Epic executive sitting next to a Cerner executive is either a rarity or an impossibility. “It is actually highly usual for us to be sitting next to each other,” said Peter DeVault, vice president and director of interoperability at Epic. “There’s been much too much made about the rift between Epic and CommonWell. There’s a whole lot of water under the bridge.”
When a company is hacked it is usually an issue for the IT department. Cyber crime is reported to cost businesses about $100 billion in the U.S. yearly. The average cost of a data breach for companies with 1,000 employees is estimated at $15.4 million., according to a study commissioned by IBM. This is a 82% increase from 2009. Some companies have reported losses in excess of $65 million. Target and Sony’s CEO’s lost their jobs as a results of their breaches. The message is poor cybersecurity planning and response can get them fired. Jeff Immelt, CEO GE, personally leads the company’s cyber task force. However, far to many CEO’s and their boards don’t know how to best, lead, fund and take a very active role in planning and response plans that are continually updated.
HealthMyne, Inc. has added Milton Silva-Craig, J.D., MBA to its board of directors. Silva-Craig, currently CEO of Q-Centrix, brings more than 20 years of executive management expertise in the field of healthcare IT to the board.
Epic’s President and CTO representing the leading electronic medical records company will speak Monday, November 9 at The Fusion Executive Summit in Madison out best practice to protect against cyber breaches. www.fusionsummit.com
Cyber Liability – the Risk and Solutions
Last week, a teenager hacked the Director of the CIA John Brennan’s emails, as well as those of Homeland Security Secretary Jeh Johnson. The teen explained to Wired how he did it. Easy.
Retail and consumer services are just as vulnerable. The Anthem, Home Depot, JP Morgan Chase, Target, Ebay, and NASDAQ hacks all occurred just this year.
If you are a company that stores sensitive customer data, credit card numbers for example, you are a potential candidate for cyber insurance. As the magnitude and boldness of recent data breaches grow, cyber risk mitigation and transfer rises as a top priority for C-suite executives.
Exact Sciences Corp. (Nasdaq: EXAS) today announced that the company continued its strong performance during the third quarter ended Sept. 30, 2015, completing 34,000 Cologuard tests, an increase of 60 percent from the second quarter, which resulted in $12.6 million in revenues. The cumulative number of ordering physicians grew to 21,000 during the quarter, an increase of 42 percent.
Infor, a provider of business applications built for the cloud, and Quality Reviews, Inc., a real-time consumer and patient feedback software, today announced a partnership to change the way hospitals collect and manage patient satisfaction data. Through this partnership, Infor is able to provide customers access to RateMyHospital®, a HIPAA-secure, cloud-based patient relationship management (PRM) tool that enables hospitals and other healthcare providers to measure, manage, and improve the patient experience.
For the second time, Nordic has ranked No. 1 in Epic Implementation Support and Staffing in the latest KLAS report, Epic Consulting 2014. KLAS is a provider of impartial ratings of healthcare technology.
This is the second KLAS report focusing specifically on companies that provide consulting services for organizations using the Epic EHR. The first report, published in June 2012, also ranked Nordic No. 1 in Epic Implementation Support and Staffing. The 2012 report included 13 fully-rated firms, a number that has jumped to 21 in 2014.
TEAM Companies, a TDS company and Midwest data center provider, has been recognized by the Auditing Standard Board of the American Institute of CPA’s. The data centers located in Fitchburg, Wi. Des Moines and Cedar Falls we’re approved as meeting the new compliance measures for the highest levels of security and availability.
Today’s urban legend and perception might be that Steve Jobs or Bill Gates invented the computer. The inventor with the best claim to making the first “automatic electronic digital computer” was actually John Atanasoff, as a 34-year-old associate professor of physics at Iowa State College, who earned his doctorate in physics from the University of Wisconsin. In 1930, Atanasoff began development of a calculating machine decades before the first personal computers emerged in the late 1970’s, and the mainframe and mini-computers that were originally developed in the 1950’s and thru 1970s and that are still sold and upgraded today.
With the increased reliance on IT from business leaders, it’s important for CIOs to understand the concerns of CEOs and the implications they may have on IT, according to Gartner. During this weeks Symposium/ITxpo Gartner analysts outlined the seven major concerns from CEOs that CIOs should address. “Business leaders see very uncertain times ahead in 2011, and they must defend growth despite falling business and consumer confidence,” said Mark Raskino, vice president and Gartner Fellow.
Gartner highlighted the top 10 technologies and trends that will be strategic for most organizations in 2011 during Symposium/ITxpo, this week in Orlando. Gartner defines a strategic technology as one with the potential for significant impact on the enterprise in the next three years. Factors that denote significant impact include a high potential for disruption to IT or the business, the need for a major dollar investment, or the risk of being late to adopt.
At the heart of the change, the next 20 years will be intelligence drawn from information,” according to Peter Sondergaard addressing attendees of Symposium/ITxpo. “Information will be the ‘oil of the 21st century’. Gartner analysts discussed four broad trends; cloud computing, the business impact of social computing, context aware computing and pattern based strategies that Gartner says will dramatically change IT, the role of the CIO and their impact on the global economy over the next 10 years.
Raven Software, video game developer behind Singularity and the Soldier of Fortune is reducing its staff for the second time in two years leaving it with one development team according to its parent company Activsion. “With the recent completion of Singularity, Raven Software is realigning its workforce to better reflect the studio’s upcoming slate,” said Activision in a statement.
The Defense Department’s Armed Forces Institute of Regenerative Medicine (AFIRM) will fund Statatech’s next phase of clinical trials of its flagship StrataGraft® living human skin substitute tissue for the treatment of traumatic skin loss.
Madison-based Stratatech is a regenerative medicine company focused on the commercialization of cell-based, tissue-engineered skin substitute products.