Updates from the Gartner IT Expo
I attended this year’s Gartner IT Expo in India, held in the beautiful sea side town of Goa. It was a rather large gathering (1200+ participants as I hear), blocking the capacity of most Goa hotels already in holiday season. The talks were rather interesting and engaging (including one by Guy Kawasaki), but I guess the opportunity of catching up with technologists from peer companies and other industries was the high note.
Data: As Big Data becomes the state of the play across industries, the value of metadata becomes more prominent. Particularly in an era where the boundaries of analytical insight span data sources beyond the enterprise, the value of metadata in establish trust is rather immense. We no longer “collect” data, but rather “connect” to it from multiple sources to create temporary data structures to run analytics (with mechanisms such as data virtualization).
Blockchain: Given that this was a cross industry event, I was surprised by how much everyone was talking about this topic. It was not just the bankers and insurance teams, but everyone from manufacturing to agriculture-tech was talking about its potential in enhancing trade across industries and managing assets more effectively. Every industry seems to be running a pilot and exploring its practical potential.
Connected ecosystems and IOT: This was a big theme, particularly for the manufacturing, automotive, industrial and consumer industry areas. The 7 Billion connected people and 30 Billion connected things (as Gartner projects by 2020) will create a huge potential for a new services. An interesting presentation was on connected cars, where they highlighted the case of a fully autonomous car of the future with all seats were turned inwards – resulting in the need for new forms of entertainment and allied services to engage commuters.
I also picked up some interesting FinTech statistics along the way.
- The total valuation of Fintech startups firms is already at 30% of valuation of global banks! That was news. Not sure how accurate it is though, I expected it to be closer to 9-10%.
- A huge number of non-banking entrants to banking: For example, Starbucks which currently processes $9-10B in quarterly float due its loyalty payment solution (and without any associated financial regulation)
Overall, a rather useful forum, not just to pick up these nuggets, but for meeting interesting people.