还有人工智能, 云和其他进步, it will take a cultural shift to overcome the obstacles of overlapping standards, legacy-system complexities and firms not optimizing their own data’s power.
我们在一个日益数据驱动的环境中运作. 人们正在利用数据来应对当今的许多挑战, providing new insights to assist with areas such as risk management, 运营绩效评估和客户体验.
近年来, 随着对数据访问的日益关注和增长, 随着金融市场越来越数字化, the data capabilities have expanded alongside the development of a broader set of methods and formats for data exchange. 然而,, this increased focus on data has not resulted in improved methods for managing, 在整个行业中有效地使用和交换数据.
到目前为止, while the industry has focused on standardization of data exchange across organizations, little attention has been placed on developing standards for how data is managed within firms. 同时, 公司贸易生命周期的几个方面仍然是手工的, 比如交易后流程, meaning that some data never gets analyzed or even stored in modern technology platforms.
There are several reasons why data management and exchange are inefficient today, including:
- Data exchange is often dictated by overlapping standards and formats that require a high degree of maintenance.
- 在大多数组织中存储数据的方式, 通常在筒仓中, 防止其用户充分利用它.
- Many data sets that financial institutions rely on today do not have the data quality standards necessary for decision support and automated decision-making.
- Operational complexities remain, including manual processes in the 帖子-trade lifecycle.
To effectively address these challenges and capitalize on the power of data, firms should consider two key priorities: accelerating innovation, including the adoption of new technologies; and embracing greater levels of industry collaboration.
Technology is constantly evolving and being adopted in ways that both enable and necessitate change and drive innovation in data management and exchange. This is true for new technologies like artificial intelligence and distributed ledger technology, but also is clearly demonstrated when looking at the most rapidly adopted technology that can support improved data management – cloud computing.
存 research finds that most firms expect to have applications that are fully cloud native, 或者完全采用云计算, by 2024, meaning the industry is currently balancing the need to re-architect the way it handles and manages data as well as the risk management concerns that can arise when introducing third-party technologies into an organization.
但面对这些采用的挑战, the industry is also benefiting from cloud’s ability to deliver solutions to current data management inefficiencies. 具体地说, firms can exploit the power of data leveraging cloud’s scale and automation capabilities, 这意味着更快的洞察力, 更快的业务流程, 最终实现更高效的vnsr威尼斯城官网登入业.
其他新兴技术, 比如人工智能和机器学习, can also be impactful in data management through their ability to improve data processes, 但许多公司在使用这些技术方面仍处于起步阶段.
例如, 在许多早期的人工智能实验中, financial institutions lacked the large-scale clean data sets needed to take full advantage of AI. Identifying solutions to today’s data management challenges can support firms’ innovation and modernization journey not only by providing access to clean data sets, but also in enabling new technologies that can be leveraged for processing and analysis.
然而,, this increased focus on data has not resulted in improved methods for managing, 在整个行业中有效地使用和交换数据.
While technology can be an incentive and an essential tool to improve data management, 任何真正的行业转变都需要合作. 在存, we have already seen industry experts collaborating in this area and expect to see increased levels of data sharing between partners and counterparties in the near future.
The culture surrounding the next generation of data exchange and sharing will be more collaborative than ever before, 受新技术的支持和业务需求的驱动. Organizations across the industry will need to embrace openness and greater flexibility. Collaboration efforts will need to be supported by strong governance around data, 以及在隐私和安全方面的高标准.
New paradigms will enable participants to transfer data to places in the trading and data ecosystem where it can be amplified. 将会有更多的数据共享, especially of standardized reference information between partners and counterparties, leading to the emergence and growth of data utilities that serve new and existing clients.
当我们展望未来, 数据必须可访问, 安全, interconnected through ecosystems and deliver powerful insights. 今天, the future advancement of data management is blocked by overlapping data standards, 遗留技术的复杂性, 公司没有充分利用自己的数据力量. These challenges can be addressed through a cultural shift in the industry’s thinking around data exchange while embracing new technologies and a culture of collaboration and sharing.
通过拥抱创新, 利用技术并确保持续的行业对话, 数据的力量可以充分发挥其潜力. 未来行业的发展将由数据驱动.
This article first appeared on the GARP web site on October 13, 2023.