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Moore's Law o In information age, technology growth is exponential (not linear) o Financial system benefits from technology advances o Magnify both positive and negative outcomes (leverage, chainsaw) Murphy's Law o Whatever can go wrong will go wrong o Human behavior plays an important role in Finance - Feynman o "Imagine how much harder physics would be if electrons had feelings" Technology high complexity & high coupling o Use advanced technology to cope with Murphy's law (0 growth) o Steve Jobs (iPhone, WALL-e) encapsulate technology complexity o Decoupling Moore from Murphy: Version 2.0
System wave from proprietary to Commercial off the shelf Device wave from dumb to smart Network wave from proprietary to open internet Content wave from voice to multimedia (big data) Service wave from general to personalized Architecture wave from centralized to decentralized and then to cloud
Cloud is end results from all of the above
Technology Evolution
Virtualized compute power and storage delivered via infrastructures of abstracted hardware and software accessed over the Internet. These shared, on-demand IT resources, are created and disposed of efficiently, are dynamically scalable through a variety of programmatic interfaces and are billed variably based on measurable usage. Making IT Services just like electricity, water, and natural gas services to household
Cloud computing delivers abstracted IT resources over the Internet
Abstraction of Hardware
Hardware as a device become smart It can be coded, therefore, it can be automated Reconfiguration lead to monetization of hardware
Presentation Summary
Benefits of Cloud Risks of Cloud Industry path of evolution to Cloud Components path of evolution to Cloud Financial Cloud and Future of IT
o o o
Regulatory Environment: Relationship with government Market: Relationship with customer Competitive Environment: Relationship with peers
Scalability
Control your infrastructure with your app Nothing to purchase and take delivery on Instant
Under Utilization
Pay for only what you use No need to buy in advance Zero Capital Outlay No contracts
Nothing to buy, nothing to risk Cancel immediately Change instantly, even operating systems Rebuild it instantly after testing Better at matching cash flow (risk hedged)
Instantly powered with all the hard to acquire skill sets Leveraging external expertise reduce project complexity (hiding intrinsic complexity from user) Relieve responsibility of maintenance, typically 70% of IT budget So that IT department can focus on what they do best in economic specialization, and innovation Instantly reach anywhere around the global, cross cultural, legal, and language barriers
The Evolution of IT
"It was not a cumbersome, laborious process. It was just click, click, click, and that was it," says IT Manager, WSJ
The Scariest thing to tell a compliance officer is "we are taking our data to the cloud".
Augustine's Laws
If a sufficient number of management layers are superimposed on top of each other, it can be assured that disaster is not left to chance The law of insatiable comfort: Decreased business base increase overhead. So does increased business base. Ninety percent of the time things will turn out worse than you expect. The other 10% of the time you had no right to expect anything. The optimal committee has no members. The optimal size is a small size
Cloud tap into the benefits of scale of ecosystem without costs of large system inefficiency as specialization possible
Colocation 1st step to outsourcing Managed Hosting dedicated servers managed by 3rd party take some pain away Cloud Hosting Lower cost, easier, lower risk, more reliable
Cloud computing is a disruptive innovation that all IT professionals should pay attention, because it will transform how IT services are delivered.
Costly, sometimes No contracts, usage month/year contracts, based, no upfront no CapEx costs Low High - virtualized
Low
Buy Servers & Colo Rent Servers & Rent based on usage costs whether used or Hosting costs whether only not used or not
Compute Clouds create demand for Storage Clouds Storage + Compute Clouds create Cloud Infrastructure
Cloud Infrastructure enables Cloud Platforms & Applications
Traditional IT Pyramid
Build upon a foundation Layers equate structure Building blocks: Infrastructure, Platforms, Applications Breadth vs. Niche
Software as a service Google Docs "Drive" to share editing of lectures TurboTax Tax Preparation Salesforce.com A cloud-based Customer Relationship Management (CRM) platform that can be used by a firm to connect with customers and employees.
Most common Cloud / Many providers of different services
Disadvantages: No control or access to underlying technology
Platform as a service
Google App Engine A platform cloud that enables developers to build and host web applications on the same systems that power Google applications. SalesForce Dev Platform
Good for developers, more control than Application Clouds, tightly configured
Financial Cloud
Security level much higher than Amazon Security level of military cloud SFTI (Secure Financial Transaction Infrastructure) NY4 Center Not based on statistical availability 99.99% available is not enough
Power
Connectivit y
Licensing
Break-Fix
Support
Performance
Environmental
Cabinet Layout
Applications
Installation
Installation
Virtualization
Design
Timing Services
Automation
Scaling
Anti-Virus
Hardware/OS
Trending
Security
Procurement
User Auth.
Patching
Capacity
Config Standards
IDS
IPS
Dedicated managed servers, storage, networking Tailored to customer needs Deploy in weeks
Dedicated blade servers Managed up through the OS Pre-provisioned for SFTI services Deploy in days
Managed or Unmanaged virtualized computing cloud Pre-provisioned resources with SFTI access Deploy in minutes
delivery of business capabilities Infrastructure Cost Reduction Headcount Reduction Elasticity and Scalability Speed to Market
Dominate Financial Services IT growth