2016 is the year Big Data gives way to the Algorithm Economy, the year Wall Street technologies come to Main Street, accelerating enterprise digital transformation.
Peter Sondergaard, SVP, Global Head of Research at Gartner, addresses this evolution of Big Data, “Data is inherently dumb. It doesn’t actually do anything unless you know how to use it; how to act with it. Algorithms are where the real value lies. Algorithms define action. Dynamic algorithms are the core of new customer interactions.”
This was the keynote theme at the Gartner Symposium/ITxpo where Gartner’s recently released book Digital to the Core took center stage, and Sondergaard’s keynote presentation (which you can view on YouTube) discussed the coming paradigm shift, with algorithmic businesses driving the digital innovation agenda and wielding the power to disrupt entire industry’s — just as Wall Street’s Flash Boys have done over the past decade in the capital markets.
From advanced execution services to arbitrage trading, Wall Street’s algorithms assimilate massive amounts of globally distributed data in real-time, to make automated decisions at the speed of light, and in the process define both the winners and the losers — the disruptors and the disrupted.
Success in the Algorithm Economy depends on high performance platforms that favor speed, integration, and interconnectedness. Modern platforms assimilate real-time data for automated decision making, taking cloud and XaaS integration to new heights, while seamlessly interconnecting with legacy infrastructure and applications in on-premise environments.
Wall Street’s top trading firms already leverage such high performance, global platforms to run their algorithms. In 2016 those enterprises that seek to prosper through digital disruption will do the same. In his keynote, Sondergaard challenged CIOs and senior IT executives to lead their companies through the digitial disruption by “moving from control to influence — divesting activities better done elsewhere by partners, the crowd, or in the cloud.” At the same time he urged a new approach to security “designed for inclusion to connect rather than exclusion to protect.”
Are you positioned to accelerate your business’ transformation and become a digital disruptor in the year of the Algorithm Economy? Join the dialog at #Digital2Core.