A video created by Deloitte Consulting some moons ago aptly describes why Regulatory Tech or RegTech as it was affectionately called would go beyond being just a part of FinTech. In other words, it has moved way beyond being just a buzzword half-a-decade ago, thanks to ever-increasing costs of compliance coupled with the growing list of stringent regulations in the entrepreneurial world. Today there are several players who offer these solutions with real-time compliance analytics that support enterprises and regulators while protecting consumer interests. One such name is Bahwan CyberTek, a player that ideates on new regulations and risk management principles and brings innovative solutions to meet the ever increasing demands of compliance within the financial industry. In an exclusive interaction with CXOToday, Jaya Vaidhyanathan, President, Bahwan CyberTek, explains why RegTech is on the rise and why it matters in the age of compliance.

For some time now, 'experience' has been the buzz word that has been increasingly gaining prominence in most business sectors and the banking sector is no exception. Today, around the world, we see thought leaders saying - it is not the goods that are being marketed any more, it is personalised experiences. Back in 1998, Joseph Pine and James Gilmore authored an article titled'Welcome to the Experience Economy' that appeared in the Harward Business Review. The literature points out that the experience economy is the next economy that would follow the agrarian economy, the industrial economy, and the service economy. While the idea seemed ahead of its time back then, 20 plus years into the future, the idea perfectly describes the state of businesses today.

A recent report by Harvard Business Review cited that close to 71 percent of CEOs view human capital as the topmost factor for sustainable economic value, while according to 43 percent, investing in people is a major priority. However, it hasn't been an easy job for the recruiters to tap the right talent for the jobs on list. According to a survey by worldwide recruiter Hays, organizations are expected to hire in high volumes in 2018, but their plans may get hampered due to shortage of skills that they are looking for. As a result, employers and recruiters are continually working towards improving the ways of sourcing, hiring and retaining the best talent. Recruitment continues to be one of the toughest problems that businesses are facing today – one of the reasons being the right candidates are unaware of the opportunities that are suitable for them. Technologies such as Artificial Intelligence (AI), Machine Learning (ML), Robot Recruiters, Talent Analytics and Big Data are gradually bring in sweeping changes within the recruitment world as the recruiter finds himself in an interesting point between man and machines.

In the last few years there have been numerous developments involving Artificial Intelligence (AI) and Machine Learning (ML), and the ways in which both are being used are constantly expanding. On the video editing front software and tech giants have been heavily investing in AI and ML, and as a result it has fueled a wide range of innovations. Several years ago IBM made headlines when it created a movie trailer using its Watson supercomputer. Using ML, Watson'learned' from other movie trailers and subsequently curated and identified video footage that could be used in the trailer for the horror film, Morgan. Since then AI and ML have been used frequently to curate videos for editing. Recently Google released its Clips camera that uses AI to automatically record short video clips that it thinks will be interesting.

Voice technology is gaining mainstream acceptance thanks to the new voice based devices from the leading companies like Amazon, Google. Simultaneously Artificial Intelligence (AI) is becoming more efficient in identifying user intents. Many industries are experimenting with the devices and AI powered abstraction layers to identify areas that they exploit to deliver superior customer experience. According to Google, 20% of the searches are already by voice and they expect this to increase to 50% by 2020. Quantum leap in voice accuracy is another trend that is seen by the technology analysts over the last couple of years.

The world is evolving faster than ever thanks to the proliferation of technology brought about by an increasingly connected global market. And while the changes in education system was slow a few decades ago, the course curriculum was not required to be updated frequently. However, with today's fast pace changes in market needs, new curriculum is required almost every few months. This is primarily due to the fact that while technology, knowledge, and the job market can and do change almost overnight, the education system is rigid, often bureaucratic, and in many cases even resistant to change. This ever expanding gap between academia and the real world has resulted in a whole generation of students who while undoubtedly talented, intelligent, and hardworking simply do not have the skillsets required for employment.

Every day a new headline is made with Artificial Intelligence (AI) that is well-poised to drastically change the way people use technology to get work done. With the suitable dataset behind it, AI can help ease many monotonous and redundant tasks, changing the way humans perform their tasks. AI has achieved a higher level of advancement this year, affecting certain aspects of life. But what is happening behind the scenes, in development facilities where researchers and techno heads are constantly striving to beat the levels achieved by previous AIs? In its latest blog, Infiniti Research, a market intelligence solutions provider, has listed the top AI trends that will dominate businesses this year.

Artificial intelligence has already made its mark in the insurance sector. According to a McKinsey report, the insurance industry is on the verge of a seismic, tech-driven shift. A focus on four areas can position carriers to embrace this change. The researchers believe, insurance executives must understand the factors that will contribute to this change and how AI will reshape claims, distribution, and underwriting and pricing. With this understanding, they can start to build the skills and talent, embrace the emerging technologies, and create the culture and perspective needed to be successful players in the insurance industry of the future.

The threat landscape has moved far beyond programmers trying to show off their exploitative coding skills to their peers. Modern cybercriminals choose efficacy over spectacle and employ a variety of attack methodologies to breach network security. They leverage the most cutting-edge tech to launch swifter, more powerful, and highly sophisticated attacks. With advanced technologies such as machine learning and artificial intelligence now being integrated into cyber attack methodologies, security experts believe that 2018 could be the year that witnesses the first wave of attacks with true AI capabilities. This spells trouble for global businesses already struggling to deal with high attack volumes and multidimensional attack vectors.

Technology is the core of almost every task we undertake even on a minutelevel,and industries are taking up the cause of automation. This relegates technology's positionfrom being just an enabler into a disruptor of traditional ways, which cannot be overlooked. Transformational strategies require to be molded around the benefits of technology, to leverage maximum profitability. Sector-wise, technology is riding the horse of fortune and guiding companies to prolific growth, with ease. If one talks about the banking sector, the adoption has been gradual, when compared to other sectors.