FUTURE TRENDS - Cardless ATMs and the Continuing Development of Fintech

(City National Bank)

Less than a generation ago, cheques were ubiquitous.

In 2000, cheques were used in more than 40 billion US transactions, and by 2012 that number had plummeted by more than 50%.

In contrast, the use of debit cards skyrocketed.

But with the rapid development and adoption of fintech – technology that enables digital financial transactions – debit cards may face their own rapid end.

Multiple coexisting pressures drive the potential shift.

On the one hand, there is pressure to find an alternative to debit cards, and to introduce technology that is seen as more secure and reliable.

Banks have been dealing with a significant decline in trust for years now, while fintech companies have been gaining trust.

And debit card fraud is a concern for many users.

Although chip cards have reduced the frequency of debit card fraud, they have not eliminated the risk, and consumer trust remains low.

On the other hand, rather than pushing away from consumer distrust and faulty technology, is the positive draw of new technology and the many opportunities opening up within the realm of wearables and bearables – the portable, personal, personalizable, Internet of Things that users either carry with them, or wear as watches, necklaces, or other accessories.

Even Siam Commercial Bank Pcl, which is a 1000-year-old institution in Thailand, is excited about the potential in this digital future.

They’re working on a comprehensive app that would go beyond day-to-day banking and allow users to do everything from finding and paying for entertainment, to becoming a major portal for businesses attracting and engaging customers.

Those types of major banking redesigns are coming to banks globally, but for now, in North America, users can anticipate a smaller but no less momentous shift as banking cards go the way of checks.

And what will replace them?

Cellphones.

JPMorgan Chase, Bank of America, and Wells Fargo all either have plans to introduce cardless ATM transactions within the next year, or have actually rolled out the technology in test cities.

Canadian bank BMO introduced cardless ATM machines in some US locations last year, and Spain has had them since 2011.

PayPal also offers some ‘cardless cash’ services, and both Apple Pay and Android Pay have introduced tap technology in both phones and watches.

Mastercard and Coin have also teamed up to offer wearable options.

Most of these ‘wearable and bearable’ IoT technologies rely on near-field chip technology, a growing tech sector that is set to take off in 2017.

There are security risks that come with the new technology, particularly because the IoT itself introduces risks.

Connected devices are often only as secure as the least secure device in the network, and that can leave mobile users open to threats.

Despite these risks, the potential is exciting.

Cardless ATM transactions take a fraction of the time that traditional transactions do, and the prospect of robust and comprehensive financial apps that streamline and secure the payment process across multiple types of purchase is definitely appealing.

About Tiffany Sostar

Tiffany is a published academic, an editor with the Editors Association of Canada, an independent scholar and researcher, and a self-care and narrative coach. She is particularly interested in the intersection of technology and identity - how our tools shape our selves and change our stories, and in how the nature of work is changing as we incorporate more technology into our daily lives.

DIGITAL - Predicting the Future of the Internet of Things

As the year comes to an end, experts are making predictions for 2017.

Forrester released their report - Predictions 2017: Security And Skills Will Temper Growth Of IoT - to help companies tackle the rapidly changing Internet of Things (IoT) landscape to deliver and enable connected products and businesses processes.

Their predictions include:

• IoT will be distributed across edge and cloud, boosted by Artificial Intelligence (AI) and containers
• The first prototypes of smart contracts built on blockchain
• AI and machine-learning cloud services will increasingly be used to mine the data coming from IoT devices
• There will be a large-scale IoT security breach
• Hackers will continue to use IoT devices to promulgate DDoS attacks
• IoT will simultaneously shrink and enrich mobile moments.

UK magazine Infosecurity agrees with Forrester’s predictions about security issues, quoting experts from Bitdefender, a data security company.

“We will see a marked rise in IoT attacks against individuals and companies alike, continuing trouble with encrypting ransomware, IoT botnets, adware and the revival of darknet markets for illegal goods and services.”

The growth of blockchain is also being predicted by Database Trends and Applications Magazine with their 10 Big Data and IoT Predictions for 2017.

“Blockchain transforms select financial service applications...For enterprises, blockchain presents a cost savings and opportunity for competitive advantage. In 2017, there will be select, transformational use cases in financial services that emerge with broad implications for the way data is stored and transactions processed.”

Database Trends and Applications experts go on to predict big data and IoT will evolve to help businesses prosper during uncertain times in five ways:

“Self-service data prep will unlock big data’s full value; organizations will replace self-service reporting with embedded analytics; IoT’s adoption and convergence with big data will make automated data onboarding a requirement; 2017’s early adopters of AI and machine learning in analytics will gain a huge first-mover advantage in the digitalization of business; and cybersecurity will be the most prominent big data use case.”

The continued growth of IoT is definitely not in question - IoT was the number one search topic not only among CIOs but across all Forrester clients over the past six months.

Read the entire article about Forrester’s IoT 2017 predictions.

INNOVATE - Kirobo Mini Robot a Step Forward in Interactive Technology

Kirobo Mini is an interactive robot being released by Toyota in Japan next year for a cost of just under $400 USD.

(AP)

 

The robot is small enough, at around 10 cm, to carry in a purse or keep in a car’s cupholder, and is being described as a companion for its owners.

It speaks Japanese (and will presumably speak other languages if it rolls out in other countries), responds to facial expressions, and can engage in conversation.

It’s difficult to say which branch of interactive technology has taken a leap forward with the introduction of Toyota’s Kirobo Mini.

On the one hand, the little machine is like a lot like a Hatchimal, the interactive evolution of Gen Xers beloved Tamagotchi.

Like the Hatchimal, the toy that has taken over the Christmas buying market this year, the Kirobo Mini is an interactive companion that responds to input from the user.

Kirobo Mini is designed to provide companionship for Japan’s often lonely population of seniors and young singles.

The general manager in charge of the Kirobo Mini project, Fuminori Kataoka, told The Associated Press, “This is about the existence of something you can talk to. A stuffed animal might not answer back, but people do talk to it... But if it talked back, wouldn't that be better?”

The connection to interactive toy technology is clear.

But the Kirobo Mini could just as easily be seen as an evolution of the Internet of Things, because unlike Hatchimals, the Kirobo Mini is a connected device.

The communication capability happens via Bluetooth connection to a smartphone app and processing in the cloud.

This introduces both a clunky interface and significant security risks.  

The Kirobo Mini is a “communication partner,” and joins a growing market of robots filling service and companionship roles.

Last year, the interactive robot Pepper was released in Japan and in 2016 Pepper was introduced in Silicon Valley.

Pepper is used primarily in retail and hospitality venues, and can respond not only to the facial expressions and voices of customers, but also tracks their activity within the space in a way that previous technology has not been able.

These robots mark a convergence of technologies, both connected and interactive, and although this was an inevitable step forward, it also comes with some risks, especially regarding the security of the information that the robots are collecting.

Despite the risks, interactive robots like Kirobo Mini and Pepper are changing users’ relationships with machines.

Kirobo Mini is a significant investment by Toyota, part of a push towards AI and robotics.

If the robot is effective in fostering an emotional connection with its owners, this could significantly increase drivers’ trust in any self-driving and autonomous cars that Toyota releases.

By changing the relationship with robots and introducing an element of emotional connection and a feeling of reciprocity, Kirobo Mini has the potential to push the Internet of Things beyond being a network of connected devices, and into a network of relationships between devices and humans.

About Tiffany Sostar:

Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.

INNOVATE - Olli Automated Buses to Launch in 2017

Tiny (they only seat 12), talking, electric, driverless buses – they’re approachable, environmentally responsible by multiple metrics, app-summonable, and they aim to bridge the gap between people and robots.

There’s a lot to get excited about with Olli, the automated buses that Local Motors will be launching in Las Vegas and Miami in 2017.

For one thing, they represent a leap forward in fully automated, driverless vehicles – potentially years ahead of fully autonomous passenger vehicles.

Although most predictions agree that the technology is years away from full automation, many companies are vying for dominance in the growing field.

Delphi and Mobileye are making waves with their hopes to release a version of a self-driving car kit in 2017, and given some of their industry advantages, they have the potential to jump ahead of their competitors.

According to the Society of Automotive Engineers outline, Olli buses would be Level 4 on the automated driving system scale, which is beyond any self-driving passenger cars currently available.

Unlike the Uber self-driving car launch in Pittsburgh this year, the Olli buses will be supervised remotely but do not appear to have a back-up driver riding along. That driver, who takes over when things get tricky, keeps the Uber fleet at a Level 3.

(Copyright 2014 SAE International J3016)

Olli buses aim to do more than advance self-driving car technology.

CEO Jay Rogers told CNN that he imagines a near future where Olli can “deliver medicine, provide advertising on demand, or roll up en masse in an area where there is an active shooter and block people so they can get out of harm's way."

The buses will use IBM’s Watson, cutting edge “cognitive technology” that hopes to provide an engaging, responsive, conversational interaction for passengers.

IBM and Local Motors want to foster a friendly relationship between customers and the robot. Watson may also connect to users’ social media, for more personalization.

Watson is also an Internet of Things platform, and the connectivity of the buses to a wide range of other connected devices such as apps, maps, sensors, and monitors both on the vehicle and beyond is a critical part of what will make the buses safe and effective.

The buses use haptic sensors to ensure that they stop when they contact anything, and uses lidar to see the surroundings.

Olli’s production model also hopes to address some of the environmental impact of vehicle production.

Not only is Olli entirely electric, with wireless recharging, the production includes 3-D printing for parts of the vehicle. These materials generate fewer carbon emissions, and they can be broken down and reused.

Although Olli hasn’t debuted yet, and will have a limited first release on campuses and airports, chances are you will see on-demand, driverless, highly interactive buses in a city centre near you within a few years.

By Tiffany Sostar

Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.

DIGITAL - Pokémon GO Popularity is Declining

Pokémon GO peaked on July 15 with around 45 million active users.

(Chris Helgren, Reuters)

At that point the game was making more than all other mobile games combined. The mobile game was revolutionizing Augmented Reality (AR), and suddenly bringing the Internet of Things to the front of people’s minds.

The game, and its immediate uptake among an unprecedented number of users, was the first of its kind in terms of immediate enthusiasm and user engagement.

It had, and has, implications for anyone interacting with the digital world (which, at this point, is nearly everyone).

Now, the game’s popularity is in decline.

Interest in Augmented Reality, which was piqued by Pokémon Go’s popularity, has also started to decline, while interest in Virtual Reality (VR) remains high.

Was all the hype about AR unwarranted? Probably not.

AR intersects with the Internet of Things in ways that VR currently cannot – products like Microsoft’s HoloLens allow for a blending of digital and physical worlds that even the coolest Vive game can’t.

Despite that, both industries are growing, and with the development of the Virtual Reality Venture Capital Alliance (VRVCA) and the continued interest in AR technologies such as the award winning HoloAnatomy for HoloLens, that growth isn’t likely to stop anytime soon.

So while the AR hype will probably fade for a while, the industry remains vibrant and growing, and Pokémon Go’s success will be something that developers look to recreate.

Pokémon Go’s popularity decline is probably not just a temporary dip.

So, is Pokémon Go is on its way out?

Again, probably not. Between mid-July and mid-August, the game lost approximately 25% of its active users, and a linear projection would see the game dead in the water by winter.

However, the decline is not surprising.

The average mobile game only maintains 22 percent of users a month after they first play the game. Other estimates put that number even lower.

Even if the game loses users at the standard rate, there will be a “long tail” of user engagement. Ars Technica estimates that it’s possible as many as 26 million people could still be playing the game in mid-2017.

Niantic’s plans to release Legendary Pokémon in special events are sure to draw the older fans back into the mobile game even if they’ve dropped off from daily play.

And the developer has other plans to continue engaging players, including the introduction of player-versus-player battles.

There are many ways the game can keep itself afloat, and regardless of where Pokémon Go ends up, the doors it has opened for marketers, developers, and users won’t be closing anytime soon.

By Tiffany Sostar
Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.

DIGITAL - Internet of Things for Wildlife and Conservation

(internetofelephants.com)

The Internet of Things (IoT) has the potential to revolutionize the way conservationists engage the public with their work, and even how they do their jobs.

Through sophisticated tracking equipment, Project RAPID (Real-Time Anti Poaching Intelligence Device) is able to protect endangered rhinos and other endangered animals.

The project relies on satellite signals, heart rate monitors, and even video streaming.

The monitoring team is notified when an animal’s heart rate spikes, and they can observe the animal through a small camera implanted in the rhino’s horn. From there, help can be dispatched.

Project RAPID highlights many of the benefits and also some of the challenges involved with using IoT technology in conservation. Every rhino being monitored this way needs to be caught, sedated, and the video camera implanted. Replacing the batteries will be a challenge.

Another collar-based wildlife project is Elephants Without Borders, which tracks elephant movement across political boundaries, and highlights the impact of human development on wild animals.

War and conflict can change wild animal’s behaviour as they avoid dangerous areas, and the EWB project has shown that in areas where conflict has ceased, such as Angola, elephants are returning.

This project also tracks other large herbivores, such as giraffes.

Most current GPS tracking devices for wild animals have a 9-12 month battery life, and each battery change requires capturing the animal again.

These project teams are probably looking forward to self-charging batteries, which have been in development for years now, and appear to be close to launching for some devices. Once they become viable they will be an important part of the IoT for animals and people!

Instant Detect is another IoT innovation in animal conservation, using a range of technologies to create early-warning systems for poaching activity in protected areas without having to capture the animals.

Camera traps, as well as seismic and magnetic ground sensors, collect data and are designed to recognize the presence of humans.

This information is sent via satellite to individual users. Rather than relying on information connected to the animal itself, Instant Detect takes advantage of the environmental sensors that are the hallmark of so many IoT applications.

As InfoStream previously reported, the International Space Station is going to be used for wildlife tracking and conservation efforts through the ICARUS Initiative - with the ability to monitor and track hundreds, or possibly thousands of birds, bats and other animals in real time.

The Internet of Elephants is using the IoT in yet another way, gamifying conservation to engage members of the public. The project uses game mechanics to allow users to interact with wild animals through the app.

Internet of Elephants founder Gautam Shah is also looking for future applications of the IoT for conservation.

The Hackathon for Wildlife, which took place in at Solstice Mobile’s Chicago headquarters last November, generated app ideas as varied as incorporating VR into child education, and a “Habitap” app that would allow users to follow animals in real time.

The Internet of Things offers huge potential for conservationists.

Whether they’re bringing wild animals into people’s phones, or deploying rescue teams in response to remote sensors, conservationists are bringing the wild closer in order to keep it safer.

By Tiffany Sostar

Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.

DIGITAL - Internet of Things for Pet Professionals

The Internet of Things, with its ability to bring remote monitoring and highly sophisticated sensor technology to industries that have previously relied heavily on in-person observation and data collection, is significantly changing things for pet professionals.

Silent Herdsman collars

This is most obvious in farming, where new technologies like Silent Herdsman provides collar-based monitoring to detect estrus and other health issues in dairy cows. Silent Herdsman was developed in Scotland and is already being used globally.

The Moo Monitor, developed in Ireland, is another successful wearable device for cow health monitoring, and has been welcomed by farmers who are increasingly reliant on technology to increase profitability and animal health.

According to a 2015 Cambridge University case study, the IoT has the potential to help farmers by “capturing and recording multiple attributes for each animal, for example, age, pedigree, growth rates, health, feed conversion rates, meat quality and killing out percentage.”

As demand increases at a rate that current farming practices cannot sustain, finding ways to support farmers and farm productivity will become more critical.

Farmers are not the only pet professionals whose industry is changing to include more IoT devices.

Vets will be able to access information from consumer products like the FitBark and Anicall collar in order to gain a more comprehensive view of an animal’s daily eating and activity habits.

There is also Vetrax, a health monitoring system that allows vets to track the success of medical care programs for issues such as chronic illness, obesity, surgical recovery, and geriatric care.

Although it is directed at consumers, the implications for veterinary practice are significant. Even technology like Bistro, which has the potential to help keep cats healthy by monitoring weight and hydration, as well as by using facial recognition to ensure that even in multi-cat households, cats only have access to the right kibble, could show up in your vet’s list of recommended treatments for health-impacting obesity.

Another industry that is being impacted by the IoT is dog walking, with the introduction of the GoFetch dog-walking app in Canada.

Pet owners are matched with dog walkers and then tracks the walk through GPS so that owners can see how long the dog walked for, when they played with other dogs, and other information. It’s being referred to as Uber for dogs.

As consumers look for more and more on-demand service, the IoT will make it possible for other animal professionals to do their jobs more effectively and with more mobility.

Pet grooming, petsitting, vet care, dog training – as the IoT grows, so will the number of industry professionals who rely on it.

By Tiffany Sostar

Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.