The payments industry is undergoing a rapid transformation, and ISO 20022 data is set to play a crucial role in this revolution. ISO 20022 is a global standard for financial messaging that facilitates seamless communication and exchange of data across different payment systems, thereby simplifying the process of exchanging information and conducting transactions among financial institutions. The increasing demand for faster and more efficient payment processing is a major driver of change in the payments sector. With ISO 20022 data, real-time payment processing is possible, enabling faster and more secure transactions. This standard provides a common language and syntax for communicating data across various payment systems, resulting in a more streamlined payment process.

In a widely circulated and discussed article on Forbes, Nallan Sriram, Global Technology Strategist of Unilever makes a compelling argument for the need for master data for AI initiatives in the enterprise. The article describes that master data gets siloed in operational systems like ERP with the key decision-makers realizing the need for correct master data when faced with revenue loss or increased operational expense. As master data provides context to business transactions, it is fundamental to business operations. In earlier times, we could manage master data through human intervention. But now with cloud data lakes and our aspirations to build predictive algorithms for business operations and operations, the need for clean, contextual and unified master data is all the more enhanced.

DeepMind, Google's UK-based AI subsidiary, has signed a new agreement with the NHS after the pair's February deal was scrutinized over the amount and type of patient data Google would have access to. An investigative report by the New Scientist revealed that Google would have access to a huge trove of patient data without the patients' express consent, a potential violation of NHS information governance principles. With the new announcement, DeepMind is taking care to avoid a repeat of that situation with a host of new data protections. The new agreement is a five-year partnership with the Royal Free London NHS Foundation Trust. It will be a deployment of DeepMind's Streams app, which helps doctors get information about their acute kidney failure patients – including blood tests– faster, which will enable faster diagnostics in situations where time is of the essence. Once the app gets through the Medicines and Healthcare products Regulatory Agency (similar to the United States' FDA), DeepMind plans to roll it out to NHS hospitals in early 2017.