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Session 9

The document discusses technology and world change topics including assessments, building an Uber-like app, the API economy, API usage examples, OAuth authentication, fintech disruption driven by APIs, and understanding the fintech value proposition in four segments.

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0% found this document useful (0 votes)
58 views18 pages

Session 9

The document discusses technology and world change topics including assessments, building an Uber-like app, the API economy, API usage examples, OAuth authentication, fintech disruption driven by APIs, and understanding the fintech value proposition in four segments.

Uploaded by

creatine0407
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Technology & World Change

Session 9

SMU
Shirish Rangnekar
Assessment - Recap
• Class Participation, Debates & Essay: 20%
• Technology & Entrepreneurship (Pitching) 20%
• Technology & Industry (Group Project) 20%
• Technology & Society (Online Test) 10%
• Final Examination: 30%
• Total: 100%
How to build an UBER like app?

Map current location


using

Customer requests
vehicle via Uber App Confirm booking using Credit card payment using Send notiNcatwn
of vehicle arrrving

Check vehichke availability


using

SN
API Economy
• The API economy refers to the set of business models and practices
designed around the use of APIs in today's digital economy. It
involves the exposure of an organization's digital services and assets
through application programming interfaces (APIs) in a controlled
way. of Revenue Generated APIs
Percentage Through
salesforce @ Expedia ebay
@ Expedia 90%
60% 60%

ebay
Salesforce.com has Expedia's APIs allow eBay to list its auctions on
a marketplace (App people using third- other websites, get bidder
Exchange) for apps party websites to tap information about sold
created by its its functionality in items, collect feedback on
partners work
that order to book flights, transactions, and list new
on its platform; cars, and hotels. items for sale all of
salesforce 50% they now number which give additional
more than 300
exposure to eBay items and
partners. increase revenue.
API Economy
r
IBM Watson
APis Cloud Provisioning
Xtify
Mobile App Assemblers
Developers & Partners
Insurance Life
APIs Home
Auto
Claims

Bank Mortgage
Online Payment New Customers
APIs Loans
Account Query
Calculators
___

Pee' ¢
Auto Dealer Price 4, a 5

APIs Availability
Location Wiley
>

Configuration i
7 4
I

Map Provider Address


Locator Zillow.com
API Weather
Traffic

a
API – Driving symbiotic synergies
Access denied
000
OAuth is an open-standard authorization
2. App calls google
protocol or framework that provides
1. Push sign in
Button
3. Google shows
login window,
applications the ability for “secure
000
designated access.”
5. Submit 6. Return idToken
then verify

For example, you can tell Facebook that


credentials

4. Enter credentials

Aj ooo it’s OK for ESPN.com to access your


Signed in 7. Transmit NET profile or post updates to your timeline
O
idToken : Core

11. Access
private data
Loading data
Authentication API
without having to give ESPN your
Facebook password.
9. Submit
8. Return Access token
Access token

A 000
Service API
Private
Data 10. Grant access
& return private data
Fintech Disruption – Driven by API
venmo
ii LendingClub Cove: Ho a $3 SOF

storms tasers!

Amu Wets Fao:

"anegement

O™ «ane

at. 4
¥
A
4
tary >

@endingHome" nerdwallet sXwealthfront @.. +

PRIVLO CredtQKama Betterment


Understanding Fintech value proposition
The broader fintech category can be segmented into four variants.

Technology Infrastructure providers Large technology


seeking to help financial ecosystems using financial
institutions digitize and services to strengthen
modernize their technology relationships with users
stacks
Examples:
Examples: Apple, Ant Financial, Tencent
FNZ, Margeta, Onfido

Origin
Financial New entrants, startups, and Incumbent financial
services attackers seeking to enter institutions making significant
financial services using new investments in technology to
technologies. lift their game

Examples: Examples:
SoFi, TransferWise, Wells Fargo, Ping An
LendingClub

Low High
Source: https://www.mckinsey.com/industries/financial-services/our-insights/synergy-and-disruption-ten-trends-shaping-fintech Scale
How should banks respond to this?
Figure 2: MIT Sloan Disruptive Technology Response Matrix

High
Focus on your own business Adopt & separate
or
or
Adopt & keep internal
Ignore the technology or
(it is not your business) Attack back: Disrupt the disrupter
a
0

7
2 Attack back: Disrupt the disrupter
Focus on your own business or

Embrace the Disruption and scale it up

Low

Low Motivation To Respond High

Source: MIT Sloan


Open Banking – Using a Bank’s APIs
Third Party Apps
and Services

Open API's >


Customer
Data
CS >
Automating monitoring through API calls
Tweet volume

Basic

Average tweet length

13 billion API calls / day (May 2071


#Hashtag Unique hashtag count Total hashtag count

Google 5 billion API calls / day (April 2010)


Total mention count

Daily Twitter Features


facebook 5 billion API calls / day octover 2009)

Retweet Average number of retweets Retweet ratio


10 billion API calls / Month ¢ganuary 2021)
Platform Specific
8 billion API calls / month (Q3 2009)
URL URL ratio Event,
Percentage,
3 billion API calls / MONTH arch 2009) Date,
Product,
1@ Likes Average number of likes Location,
1.1 billion APl-delivered stories / Month darn Organisation,
2010) Person,
GPE
Over 50% of all traffic via API otarch 2008) NORP
Named-Entities Total count of each NE category:
Money

Content-based Topics Number of clusters Cluster tweets ratio


H
Sentiment Sentiment score

Source: https://www.arabesque.com/2020/08/11/what-can-twitter-really-tell-you-about-the-stock-market/
Blockchain - APIs
• •Microsoft, which partnered with ConsenSys to introduce Ethereum blockchain-as-a-service on
Microsoft Azure in 2015.
• •Amazon, which has introduced Amazon Managed Blockchain, a service that "makes it easy to
create and manage scalable blockchain networks" using open source frameworks including
Ethereum and Hyperledger Fabric.2
• •R3, a consortium of global financial institutions that produced a distributed financial ledger
called Corda.3

: ORDERING SERVICE
FA
Operator
Member 1 Member 2
Hyperledger Cello

Fabric Fabrice

Users Users Lambda


Wed App API Gateway Aut hority Amazon Managed Authority

r
Users Users

Infrastructure Blockchains
Endpoint
Peer Peer
Node
Nod Node
Users Users

Users Users Users Users Users


Secrets Manager
Les)
VPC Endpoint
@ Investopedia
2010 -- --
2011

AI on the cloud
Apple acquires Siri, the Al voice assistant. IBM Watson wins at Jeopardy, defeating two
former champions-a moment displaying
Microsoft launches machines' capabilities to understand human
Kinect for Xbox 360,
the first example of a
0 language.
gaming device capable
of tracking movements
using just a 3D camera
and infrared detection.
11
2013 -_

NEIL-Never Ending Image Learner-


Computer Neural
vision
@ networks
is computer program created to leam
cea

information about online images and


12
commonsense relationships.
The German Traffic Sign Recognition
Tesla announces the first version of competition is won by a convolutional neural
its AutoPilot on their Model S. This is a network.
hands-on driver assistance system that
Speech hosts myriad features.
3
recognition
@ Autonomics
2014 -
2015
Google's open source deep learning
framework, TensorFlow, is released.
lan Goodfellow
creates the OpenAl, a nonprofit
first Generative
Adversarial 4 organization with the
intent to research the
Deep Virtual Network. field of Al, is founded
by Elon Musk.
Amazon's Alexa, the virtual Al assistant,
learning agent is released.
2017
5
-

Two chatbots are


2016 trained by the Facebook Al Research lab
Machine Google DeepMind's AlphaGo beat world to learn how to negotiate and speak. As
Chatbot champion Lee Sedo] at computer program
Go four out of five times.
the chatbots conversed with each other,
learning however, they diverged from human language
PyTorch, an open source machine learning 6 (programmed in English) and invented their
own language to communicate.
library based on the Torch library and used
for apps such as computer vision and
natural language processing, is released. 2018
Machine Image Waymo, the company owned by Alphabet

reasoning recognition
Google Assistant, an Al-powered virtual
assistant, is released. 7 Inc. that is attempting to create a fully
autonomous vehicle, reaches 10 million
self-driven miles.
2019 _-_

Deepfake detection challenge begins with the


help of AWS, BBC News, CBC News, Facebook,

Natural
First Draft, Microsoft, The New York Times, 18
@ Knowledge Witness and XPrize.

language representation Google researchers work with Northwestem


Medicine scientists to create an Al system
processing that detects lung cancer more accurately
than human radiologists. 9
Engagement & Personalization at Scale
Users want engagement, personalization at scale, gamification, instant
gratification, and consistent multi-channel experience

OljIM}
010101
Welcome to the Industrial Revolution 4.0 101010
010101

.0 2.0 3.0 4.0

Mechanica Electrica Internet Blurring the


Mechanica Mass Automated physical and
production production production
cyber digital divide
equipment Impact
Socio- Economic
O1010 Industry
TO1O10 Government
NUP
O1010 Individual

784 1870 1969 Today

EMPOWERING EMPOWERING
CORPORATIONS PEOPLE
Impact on society
bigger than industry
Scalable efficiency Scalable adaptability
Doing things right Doing the right thing © The Dualarity
Late 187 -

Mechanization
early 191 Century
industrial cities
Steam engine and mechanical production
Sl
Late 197 -
mid 20" Century
1 a il
Mass Production
Electricity and division of labor

Second half of 201 Century


cost
Automation
Electronics and information technologies

8! Early 21" Century


value
Robotization
Cyber-physical systems
THE DAWN OF THE

FOURTH
INDUSTRIAL Mobile Devices

REVOLUTION Cloud Computing loT platforms

Location
Augmented Reality detection
technologies

Multilevel customer
interaction and
4. Advanced
human-machine
customer profiling interfaces
3.0. 969-2010s
Computing / Internet
Nuclear Energy
Authentication &
CL)
0000
2.0 8305-011
Big data analytics fraud detection
Assembly Line

1760-1840
Smart Sensors 3D printing
Steam Engineering
shockoe
Enterprise Mobile Solutions

Apps for the Fourth Industrial Revolution


Containerization
Applications Applications
Applications Applications
Operating System Operating System
Runtime Runtime
Applications
Applications Applications
Applications Applications
Operating System Operating System
Operating System Operating System
Operating System Operating System
Runtime Runtime

Runtime Hypervisor Container Engine

Operating System Operating System Operating System

Hardware Hardware Hardware

Physical Server Virtual Machine Container

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