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HOW TECHNOLOGY IS HELPING TO REDUCE LONELINESS AMONG THE ELDERLY

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by Phil Marshman, founder and CEO of Sentai

 

In the UK, it is estimated that nearly a third of people aged 65 and over live alone, with 1.4million of those people describing themselves as often, or always, feeling lonely – that’s not even taking into account the impact the COVID-19 pandemic has had this year. Two national lockdowns and ongoing social distancing measures have kept those who live alone restricted from the outside world, naturally increasing the already distressing number of people suffering with some form of loneliness.

Indeed, it is expected an additional 600,000 elderly UK residents will also suffer with loneliness by 2025, taking the overall total to over 2 million people. Another concern is the increase of people aged 50 and over falling into that category, showing that more people below the age of 60 are reporting feeling lonely.

Like most problems in today’s world, we often turn to technology to find a solution. Caring and supporting the elderly and vulnerable is no different and there has been a high and ongoing demand to offer people who live independently a product that can bring them companionship to combat loneliness, which in the worse cases can lead to depression, stress and anxiety. Family caregivers have also been calling out for a solution that can offer them peace of mind when they can’t physically be present for their elderly loved ones. The stresses around caring for vulnerable family members can also cause poor metal wellbeing for the caregivers themselves – it’s a double-edged sword.

Thankfully, we are now seeing technology being utilised for this suffering sector. Research shows that every £1 invested into tackling loneliness can save up to £3 in health costs, so it makes sense to be looking into technology that can solve the problem, save costs in the long-term, and reduce pressure on our health services.

Phil Marshman

The recent introduction of Artificial Intelligence (AI) and Augmented Voice Technology has allowed developers to create agile products that not only assist and support someone who lives alone, but learns from their behaviours to interact in a more personal, meaningful manner.

Take your standard hands-free and voice-controlled smart device, for example. It speaks when spoken to and responds to the user’s commands, which is very useful. Now imagine that device is in the home of someone who lives alone with dementia or another type of memory loss illness. What good is it then? The question then becomes how can we create a two-way conversation where the device is prompting and reminding the user to take their routine medication, for example, or have a videocall with the grandkids. By using a complex algorithm that can learn from its contextual experiences with the user, then loneliness can be significantly reduced among the older population, and even eliminated in some cases.

It is remarkable that 49 per cent of elderly people in the UK state that the TV or their pets offer them their main source of company. Neither can speak back to you and sometimes that is all someone really needs; a meaningful conversation. Pioneering AI and Augmented Voice Technology can offer conversations while helping the user to sustain a healthy and quality lifestyle. Whether it’s talking to someone who lives alone about their day ahead, suggesting they should get some fresh air and exercise with a walk at 2pm, giving them a new recipe to try out, or reminding them their favourite TV programme starts at 5pm, the possibilities are endless and increase the fostering of companionship and even friendship. Furthermore, the device’s warm, friendly voice can be regionalised to suit the user, making them feel even more comfortable and less alone. It may sound unrealistic and too far into the future for a person and a device to interact in this way, but it’s already happening now, and will soon be commonplace in the homes of people across the UK.

While machine learning isn’t revolutionary, using it to reduce loneliness and support caregivers who can’t always be there for their loved ones is. And where does the caregiver fit into this new relationship between their family member and the ever-evolving smart device? Well, products are now available on the market that come equipped with sensors that can monitor the user’s movements, providing text updates on their mobility to relatives and carers, and alerting them in emergencies. Caregivers can even stay connected via a smart app, with daily performance logs and push notifications enabling them to get peace of mind – anxiety and stress is alleviated with this best-in-class independent care.

Although still a fairly new and evolving field of development, technology built to combat loneliness and improve poor mental health will soon be integrated into more typical IOT in the household, allowing it to control other smart devices around the user’s home.

Overall, as more advancements are made in the field of AI in caregiving, we can expect to see more caregiving devices popping up in the homes of people who fall into the 1.4million that feel lonely, and ultimately, that can only be a good thing.

 

Phil Marshman is the founder and CEO of Sentai, a British technology start-up using innovative artificial intelligence to help caregivers independently support the elderly from the comfort and safety of their own home, via a machine-learning smart device. Being launched to help provide a solution to the UK’s ageing population crisis and rise in loneliness – accelerated by the coronavirus pandemic – Sentai monitors and supports the elderly to help bring peace of mind to relatives who can’t always be present.

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Business

TAKE THE NO-CODE LEAP TO DIGITAL INNOVATION WITH A FUSION TEAM

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Chris Obdam, CEO, Betty Blocks

 

In the last couple of years, a new sector has emerged alongside enterprise financial organisations—an ecosystem of fast-growing Fintech startups that develop innovative solutions for the banking sector. These small, flexible startups and scale-ups began filling a gap the ‘big boys’ left quite some time ago. Then, they gained even more ground during the pandemic. According to KPMG, Fintech investments worldwide amounted to $98 billion USD in the first half of 2021, compared to $121.5 billion over the whole of 2020[1].

 

The massive surge has financial regulatory bodies scrambling to balance the benefits of modernising the industry with the necessity of strong oversight. But, what if traditional financial enterprises could combine their durability, reliability and years of experience with the flexibility of a startup? They can! More and more enterprise organisations are becoming agile, empowering digital-savvy colleagues and improving competitive value.

 

Fusion teams

Their approach? They break through patterns and almost literally through walls in their organisation. The most successful organisations team up with genuine problem solvers. It’s a solution-oriented approach, which can be really successful if governed the right way. We like to call it a fusion team, a team that empowers digitally-skilled and solution-oriented employees to work side-by-side with the IT department while using a low-code and no-code development platform.

 

Citizen development

A fusion team brings together people with diverse professional backgrounds who use data and technology to achieve shared business outcomes. Ideally, a fusion team combines pro-developers with citizen developers. A citizen developer is a business person without coding experience that builds apps using a no-code or low-code platform.

The purpose of the professional developer, in a fusion team, is not to train the citizen developer to become a pro-developer but to bring guidance and governance to the project. Before building successful software, a fusion team will require knowledge and guidance through the software development life cycle (SDLC) phases. IT feedback is crucial to helping a fusion team understand what makes good software and how new platforms can (or cannot) integrate into an existing system. Citizen developers should receive coaching to make decisions that lead to architecturally sound, value-adding applications.

 

What are the challenges that a fusion team can tackle?

  • Modernisation of legacy systems. Many banks have been around for years, expanded their software, but regularly have to deal with legacy systems or even a vendor lock-in.
  • Regulations can change fast; that’s why financial organisations need to increase flexibility and improve adaptability. A flexible layer on top of core systems or legacy systems can profit the whole organisation.
  • Counter shadow IT. Thousands of employees means that a lot of solutions are single handedly-built. All these solutions can be beneficial for the employees and even for your customers, but the thing is that they are not checked and governed by IT. For example, you run the risk that they are not meeting all your security requirements.
  • Digitisation of processes, like the onboarding process for customers, is still a long paper process within financials. What if this could be 100% digital and automated? This could save you a lot of repetitive work, energy and money.

 

Create an environment for innovation

Banks tend to have difficulties setting up the right conditions to empower the workforce to innovate towards the future. Our first reaction to possible security risks is to impose more rules and restrictions, while the solution lies in a coaching attitude, independent of strict regulations. You can empower digital transformation by using a no-code or low-code platform.

A fusion approach encourages better software governance, allowing IT to help mitigate the risks of shadow IT projects. With a no-code or low-code platform, you can combine existing secure systems, extract data more efficiently, effectively communicate and convey between systems and thus better manage qualitative information. Governance is not a simple process or a task to check off and forget about; the essential governance feature for low-code or no-code development is a platform provider with the flexibility to adapt to specific needs of an enterprise. The provider should be a partner in expanding the role of citizen developers within the organisation.

Taking the leap into no-code software development with a fusion team will empower the entire organisation in digital transformation. It’s a strategic move that helps enterprises become more resilient against unexpected challenges – such as a pandemic or new consumer demands. Furthermore, you create a modern and innovative working environment with digitally-capable and engaged employees.

 

[1] Source: KPMG:

https://home.kpmg/nl/en/home/media/press-releases/2021/09/record-fintech-investeringen-in-eerste-helft-2021.html

 

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Business

IDENTITY SECURITY IN THE ERA OF SOX

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By Steve Bradford, Senior Vice President, EMEA, SailPoint

 

The Sarbanes-Oxley Act (SOX) is a federal law that mandates practices in auditing and financial regulations for public companies. Its original intent being to restore trust in a corporate and financial system that had been rocked by major accounting scandals such as Enron, WorldCon and Tyco. Legislators believed if there was no trust in the major corporate institutions of America, then the whole fabric of capitalism could be brought into question.

Initially only applying to American companies, every major institution that dealt with America had to comply with SOX. It was a huge a success with the number of financial scandals emanating from the US dropping dramatically since compliance. But can The UK follow suit?

 

Preparing for “SOX UK”

The UK has had its own high profile business collapses – notably BHS and Carillion. So, the government has launched a consultation programme that mimics the US SOX rules. The consultation on reforms aims to ‘restore trust in audit and corporate governance’ and applies to auditors, companies, directors, audit committees, investors, other stakeholders, and the regulator.

A focus is on companies with a significant public interest, otherwise known as Public Interest Entities (PIEs). These include financial institutions, banks, insurance companies, underwriters, and alike – many of which are already familiar with a high degree of financial scrutiny. A noteworthy difference is the stated preference to expand the UK SOX controls beyond public interest companies, which could include large companies in retail, manufacturing, logistics and automotive.

UK SOX may seem like a massive undertaking if unfamiliar, but with the right technologies in place manual tasks can become automated, reducing time which can be then redirected to greater priorities or risks, and everyday operations will be guided by a strong set of well-defined controls.

 

A growing threat

The Sarbanes-Oxley Compliance 9-Step checklist provides a series of recommendations to protect the validity of all reported information and help businesses to ensure they are following the rules. This includes the need to establish controls to prevent data tampering, track data access, test the effectiveness of safeguards and detect security breaches – any of which need to be reported to SOX auditors on time.

As both physical and digital information are affected, accurate management is an integral part of compliance. Remote working, blockchain integration, and the emergence of cloud-based banking (Banking as a Service) have led to growing cyber threats, privacy concerns and compliance requirements through the complexities of connectivity.  For example,  multiple devices now connect to networks from different locations, accessing the vast amount of information in the cloud. There is now critical need to close security gaps outside the perimeter.

Some of the greatest threats lie within an organisation – either human error or more likely, the rise in risk facing the access today’s workforce has to technology. Complex corporate structures and departmental silos hinder management’s visibility into workforce roles, responsibilities, and data access. Traditional reliance on spreadsheets and manual processes for tracking data access and user identities leads to inaccuracies and inconsistencies.

Apart from being an auditing and reporting nightmare, the situation creates system gaps that are ripe for exploitation by threat actors.

 

Maintaining security through identity

To meet security and compliance regulations, companies and organisations must act smarter in how they protect their “perimeter”, which is centred on its people – the new threat vector of choice. Companies must prepare to automate business processes and embrace new security practices that fully protect the workforce and the tools they need to  do their job.

Staying in compliance with regulation is important for the safety of the company, but it is crucial that the right safety measures are in place. Identity access management can reduce the risk of insider threat, data breaches and human error for financial reporting – enabling automated logging and report generation for companies to make smart decisions whilst uncovering and remediating hidden or unknown issues that pose inherent risk.

 

The countdown to SOX

One commodity companies don’t have is an abundance of time. With less than 18 months to go until the SOX recommendations deadline, any form of automated access system is an essential first step in ensuring companies are prepared. Starting early is critical – given an implementation programme can take 18-24 months for a company that is used to stringent financial regulations. It’s time to get identity and access compliance right – automation can save a significant amount of effort and money, whilst improving the accuracy of identity management processes.

As seen in the US, UK companies not used to financial compliance procedures will have to catch up or ask for help – learning from the financial sector – and scale up their auditing and control to comply with more stringent regulations. The rules are there to help provide the security that regulators need for a secure commercial environment. Now is the time to act in order to reduce the risk.

 

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