Business and Management, Law, and FinTech

The Technology of the Future is Changing Business Today

- Business and Management

Business and management is the coordination and organization of managing business activities. This usually includes the production of materials, money and machinery, and involves innovation and marketing. Management is responsible for planning, organizing, directing and controlling corporate resources to achieve policy objectives. 

As a business manager, your primary responsibility is to manage the administrative tasks of the business. A company may want you to assist with its marketing plan. The company may also want you to do a budget analysis to see how the company can cut costs. You should have a solid understanding of the accounting, marketing and administrative procedures required to run a business.

- The Acceleration of Third Platform Innovation

Digital transformation is the adoption of digital technologies by organizations to digitize non-digital products, services or operations. The goal of its implementation is to add value through innovation, invention, customer experience or efficiency.

The third platform is a term coined by marketing firm International Data Corporation (IDC) for a computing platform model. It is advertised as the interdependence between mobile computing, social media, cloud computing and information/analytics (big data) and possibly the Internet of Things.

The third platform is based on an online computing “cloud” and its interaction with various devices, including wirelessly connected devices such as smartphones, machinery, and sensors (collectively referred to as the “Internet of Things”).

- Building Next-Gen Digital Platforms

The enterprise world is changing faster than ever. To compete, it is now necessary to do business at an almost unprecedented size and scale. In order to achieve this scale, winning companies are establishing digital platforms that extend their organizational boundaries. With the Internet as the platform for innovation and the emergence of the information-fueled economy, technology is both a strategic requirement and a strategic advantage. 

While the term “digital platforms” includes anything from search engines (such as Google), to social platforms (such as Facebook), all the way to IaaS providers and PaaS providers (such as AWS and Azure), digitalized business technology is becoming increasingly refined. 

Digital platforms are virtualized, containerized, and treated like malleable, reusable resources, with workloads remaining independent from the operating environment. Systems are loosely coupled and embedded with policies, controls, and automation. Likewise, on-premises, private cloud, or public cloud capabilities can be employed dynamically to deliver any given workload at an effective price and performance point.

[Stanford University]

- Law Categories and Legal Technology

Law is a popular subject in the humanities, with a wide range of research fields. Some areas of common law study include business law, commercial law, environmental law, international law, medical law, constitutional law, cyber law, family law, and more. 

Legal technology, also known as legal tech, refers to the use of technology and software to provide legal services and support the legal industry. Legal tech companies are often startups formed to disrupt the traditionally conservative legal market. 

Different methods and techniques have been used for legal tasks. Traditional software architectures and web technologies have been used for tasks such as providing access to case law. Machine learning methods have been used to help find documents for due diligence or discovery. The work of making contracts easier to use involves all aspects of user experience design.

- Financial Technology

Financial technoly (abbreviated fintech or FinTech) is technology and innovation designed to compete with traditional financial methods in providing financial services. It is an emerging industry that utilizes technology to improve financial activities. 

The use of smartphones for mobile banking, investing, lending services and cryptocurrencies are examples of technologies designed to make financial services more accessible to the public. 

Fintech companies include start-ups and established financial institutions and technology companies that seek to replace or enhance the use of financial services provided by existing financial companies. The subset of fintech companies that focus on the insurance industry is collectively referred to as insurtechs or insurtechs.

[More to come ...]