IT Architect

Redefining Enterprise Architecture: Responding to Tech Demands

When you think about major corporations and their approach to sustaining their business model and brand long-term, how often is information technology the first thing you think about? For most people it’s staying relevant through crafty marketing and branding initiatives, or big partnerships, all of which are important factors but none of which solely can sustain a business today. 

As we know, technology permeates every aspect of business operations. Digital transformation starts with a solid architecture, one that leverages various technological components, such as infrastructure, networks, databases, software applications, and security measures. To be clear, the exact definition for “enterprise architecture” according to Gartner is “a discipline for proactively and holistically leading enterprise responses to disruptive forces by identifying and analyzing the execution of change toward desired business vision and outcomes”. 

Embracing a Proactive Approach

The key takeaway here is that technology is not a reactive measure; it’s something that needs to be a proactive and integral part of an organization's approach to long-term sustainability. The key term is “proactive” because the last thing an enterprise can afford is to, again, be reactive in situations where they’re caught off guard by advancements and disruptions. 

The world lucked out with AI in the sense that there’s been time for companies to explore its potential and experiment with its capabilities. AI offers transformative opportunities for corporations today who can now redefine their business models and align with the demands of the digital era.

How We’ve Always Known Enterprise Architecture (EA)

EAs have been that guidance that creates, integrates, and manages data and technology to align IT capabilities with the business's goals. The focus for enterprises is now on the tech aspect more so than project delivery or strategizing because that stuff is less comprehensive than the role technology plays in the business landscape today. What we’re outlining in this section is the elimination of the need to balance competing priorities and resources within EA.

The Key Technologies and Business Functions That EA Teams Focus on Today

In 2020, a report from Gartner estimated that 60% of organizations in 2023 would rely on EA to lead their approach to digital innovation. While we don’t have exact figures for that to compare against today, we do have an understanding of the technological and business functions that are a focus for EA teams which include:

  1. Application Architecture

  2. Data recovery

  3. Governance, risk, and compliance

  4. Cloud management

  5. Mobile device management

  6. Intelligent automation

  7. Cybersecurity 

Think about two manufacturing companies:

One relies heavily on innovation and strategic thinking, so they establish the following:

  • Dedicated space for R&D: They allocate a specific area or facility to experiment, prototype, and test concepts before integrating them into the EA.

  • Agile methodologies: This could involve methodologies such as Scrum or Kanban, to promote flexibility in their development process. This is what’s going to be key for them to respond quickly to market changes and customer demands.

  • Collaborate with other companies: Typically for IT operations, data governance, and business strategy. This is going to leverage expertise and resources that will contribute to innovation and consistently meet objectives. 

  • Investments in new technologies: This includes exploring emerging technologies relevant to the industry and leveraging them to enhance their manufacturing processes, product development, and overall operational efficiency.

  • Data-driven Decision Making: They prioritize the collection, analysis, and utilization of data in their decision-making processes. This helps them identify opportunities and inefficiencies which further contributes to consistently meeting goals. 

The other company is very project-driven so their focus is on the following: 

  • Project management: This company will emphasize strong project management, with dedicated teams and resources for each project. They have well-defined plans, timelines, and milestones to ensure execution is efficient.

  • Resource allocation: They prioritize allocating resources based on the specific requirements of each project. This includes assigning personnel, budgeting, and managing project dependencies.

  • Stakeholder collaboration: The company emphasizes collaboration and communication with stakeholders, both internal and external, to ensure alignment on project goals, requirements, and expectations.

  • Risk management: This company would likely have robust risk management processes in place to identify, assess, and mitigate potential risks and issues that could impact the success of the project.

The whole point of this comparison is for companies to understand the importance of their EA team focusing on one aspect of projects and strategy either on the side of the business or technology. The best EA teams maximize one area before moving to the next and they never skip steps. 

Actionable Recommendations

Closely align your priorities with your business's goals when defining your focus. Gain as much expertise and capabilities as possible in that area, collaborate with stakeholders, and consistently monitor how much you progress. 

You always want to make the value of your EA known to decision-makers by demonstrating how it helps meet objectives. Showcase tangible outcomes and demonstrate the ROI of EA initiatives.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to Fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

 
 

11 Programming Languages to Integrate AI Into Your Insurance Platform

The insurance industry has long been a sector that relies on person-to-person interaction. When a customer calls up an insurance broker, they’re talking to someone who understands and can even sympathize with their needs. They’ll look over policies and agree on an ideal plan… We could go on but frankly, this is all pretty dry, even for a technology company.

Insurance is yet another sector that’s about to be turned on its head by Artificial Intelligence. Like many other major industries in 2023, the insurance sector has begun to realize the possibilities available through the use of AI and is now exploring ways to integrate this technology into its service delivery model. 

A good example can be seen from Pypestream which is sort of like Chat GPT meets your Insurance provider. Pypestream alone saw its revenue jump around 450% between 2021-2022 which gives a sense of the level of opportunity available in this market. 

Anyone could argue about the implications of AI and try to dance around it as much as possible. The point is these tools are efficient which is really what AI is all about - promoting efficiency through process automation. With that being said, the only way companies can truly embrace this change is by having the right software infrastructure in place that can support the service model. 

At ISU Corp, we have years of experience serving the insurance industry so we’ve seen a lot of different approaches and want to give our insights on some of the best programming languages that can assist companies when trying to integrate AI to their platforms.

Development Teams Handling AI Integration

Any development team taking on AI integration must be proficient with Machine Learning (ML) infrastructures and the programming languages that go into them. The IT Project Manager must ensure that they bring on developers who are proficient specifically with Python, R, and Java as these are the keys to a solid infrastructure. 

Now, this alone won’t do a lot for a business starting its digital transformation journey, so with that said, let’s dive into some of the best options for programming languages and what they do:

1) Python - When it comes to data manipulation, statistical analysis, and building machine learning models, Python is the top choice. Insurance companies can use Python to develop predictive models that analyze customer data and identify risks, which will also improve underwriting and pricing decisions.

2) R - R is another popular language that we’ve outlined before, it’s commonly used for data analysis and machine learning. R is great for statistical modelling, data visualization, and exploratory data analysis. In the case of an insurance company, they might use R to create advanced analytics models, such as predictive modelling and fraud detection.

3) Java - Yet another widely used language for enterprise applications that is known for its reliability and scalability. Insurance companies will use Java to build AI applications that need to process large amounts of data and integrate with existing systems.

4) C++ - C++ is a top choice language for AI and just building overall high-performance applications, which of course makes it ideal for developing AI algorithms that need to run quickly. Insurance companies are going to be using C++ to build models that analyze large datasets and make predictions in real time.

5) MATLAB - This is a programming language commonly used in data science and machine learning. It’s particularly useful for performing complex computations and creating algorithms for statistical modelling and predictive analysis which is essential for AI integration in any platform. For insurance companies, this can help with tasks such as fraud detection, risk assessment, and claims analysis.

6) Scala - This is certainly a versatile programming language as it combines object-oriented and functional programming paradigms. It’s designed to be concise, expressive, and scalable, which makes it ideal for building large-scale, distributed systems. For insurance companies, this can help with tasks such as processing large volumes of data, managing complex workflows, and implementing real-time analytics.

7) Julia - Specifically designed for scientific computing and numerical analysis. Julia is very easy to use and has a syntax that is similar to MATLAB, which makes it a popular choice for data science and Machine Learning applications. Insurance companies might use Julia to help with tasks such as actuarial analysis, risk modeling, and predictive modeling.

8) Swift - Swift is a programming language developed by Apple for building iOS and macOS applications. It is a fast and efficient language that is designed to be easy to learn and use. For insurance companies, this can be useful for developing mobile applications that integrate with AI platforms, such as chatbots for customer support or mobile apps for claims submission.

9) Go - Go was created by Google to build fast, scalable, and reliable software. It has a simple and efficient syntax which makes it easy to write and read code. For insurance companies, this will be a great tool when building distributed systems, processing large volumes of data, and implementing real-time analytics.

10) Ruby - Ruby is a programmer's best friend during web development. Like the majority of these languages, it too has a clean and easy-to-learn syntax. For insurance companies, this is going to be the go-to when building web-based applications meant to integrate with AI platforms, like chatbots or processing systems for web-based claims.

11) Kotlin - Kotlin is a programming language that was developed by JetBrains for building Android applications. It is designed to be a more concise and expressive alternative to Java, with features such as null safety and extension functions. For insurance companies, this can be great for building mobile applications that integrate with AI platforms, again, this includes chatbots or mobile claims processing systems.

Choosing The Right Tools For Your Insurance Company

Artificial Intelligence is something that demands businesses' full attention at this moment in time - we strongly believe that companies who fail to implement AI solutions in their service delivery models will be obsolete in 5 years. 

With that said, just like AI, programming languages are meant to do different things to produce different outcomes which will all be based on the company's vision. The whole point of custom software development is to create solutions that fit the specific needs and objectives of YOUR business. 

Software developers can’t necessarily come up with the dream for you, but they can bring yours to life with the right tools. We can also identify the gaps in your processes that can be filled with AI. This is something insurance companies will want to make sure they’re aligned with when consulting with Artificial Intelligence software architects.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to Fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

 
 

What Software Engineering in Finance is Like in 2023

We talk a lot about software development in the financial world, and for good reason— this is a hot-button topic that needs attention. Financial services are data intensive and heavily rely on the analysis and interpretation of that data. This can include (but is not limited to) interest rates, stocks, income/cash flow statements, and balance sheets. 

It can be a lot to take in when looking at how IT brings innovation to an organization; in this article, we’re going to break it down simply. We will look at why software engineering is so important in the financial industry and some examples of what businesses should look out for to ensure they have the best possible team leading their digital transformation journey.

Every financial firm will have its unique requirements, the software is just there to help keep everything functioning seamlessly. Development teams working for financial service providers need to be aware of this, by recognizing the unique requirements of the industry and remembering they are there to provide solutions…

Why would we say that? Software developers know what to do for FinTech companies right? 

Software development for financial firms is high pressure since the business is naturally extremely high pressure, which means that there’s just about no room for error in any utilized IT systems. 

When errors do arise it can be extremely detrimental, in the United States alone, faults from IT systems take out $150 billion from the economy annually. 

This is intimidating for both software developers and the companies who invest in their services, but it is why reliability, credibility, and transparency are such important aspects when it comes to choosing a software development team.

The Best Software Engineering in Finance Looks Like…

Finance and banking are among the top 5 industries demanding software engineers according to industry reports, with entry-level salaries starting at over $110,000. In addition, more than 95% of financial companies deem it “critical” to have solid software engineers in order to sustain the company long-term.

The job of a software engineer is strictly to examine, make predictions, and come up with comprehensive software solutions based on the variables they’ve examined. As a software engineer working for a financial service provider, the projects in scope may include:

**If you don’t recognize some of the topics, check out our previous blogs on them**

When a financial service provider hires a software development team, they’re not looking for someone to put a bandaid on their current processes, they want innovative solutions and digital transformation to make their services stand out in the most competitive market in the world. 

Digital transformation, like anything else in running a business, will look different for everyone. 

However, with experienced software engineers, you can find the future that looks exactly like the vision of success you’ve always wanted. This may include (but again, is certainly not limited to):

  1. Cloud computing: This is one of the most prevalent trends in software development as a whole for its ability to store and access data. For a banking/finance company, this is everything to their users and it leads us to the next point.

  2. Mobile Banking Services: Let’s not forget, two-thirds of the American population alone use mobile banking for their day-to-day needs. In 2023, mobile banking is a nonnegotiable for young consumers especially, which tells you everything you need to know about where the industry is headed. 

  3. AI: By now, Artificial Intelligence has entered normal dialogue though it’s caught some people by surprise. For the financial industry, it’s brought many great benefits when it comes to:

    • Repetitive task automation

    • Minimizing errors

    • Aiding in the decision-making process

  4. Cybersecurity: The major threats financial firms have to consider when implementing software systems in 2023 include: 

2,200 - The estimated number of attempted cyberattacks each day.

$9.4 million - The average loss financial firms saw from ransomware attacks in 2022

Cybersecurity is a necessity in an age where FinTech service providers are at the pinnacle of banking. Companies need to protect their assets and data which is why when software programmers today build systems to protect service providers, they must remember they can mitigate a breach before it is attempted. 

Each of these aspects leads to a well-rounded platform that users will feel comfortable relying on. More than that, it’s something that can be sustained long-term which makes it better for companies who want to scale their operation. 

Where Custom Software Makes Scaling Easy

When you invest in custom software, it’s not a temporary fix— rather, it’s a foundation being implemented that when it continuously undergoes innovation can take a company from a startup to a large-scale enterprise. 

For instance, a custom mobile app could help a FinTech startup grow its user base by reaching new users, while customized cybersecurity measures can protect against potential threats as the company scales. It’s the little things like this that make a big difference long term.

The Takeaway

Software engineering is where the majority of the heavy lifting happens since execution is based on the analysis done during this time. To maximize the results a company sees from software development, prioritizing the planning stage is a crucial step. Lay everything out on the table; current pain points, long-term goals, market research, etc. Putting this in the hands of the right software development team will guarantee the best possible outcome. 

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.