Category: Trending Technology

Welcome to the Tech2Exec Trending Technology category, where we spotlight groundbreaking advancements in emerging technology that are reshaping industries and influencing global markets. Our goal is to provide a comprehensive overview of the latest innovations that tech executives must comprehend and integrate into their strategic plans to remain competitive and ahead in the ever-evolving business landscape. We delve into a wide range of technologies, from artificial intelligence breakthroughs that are revolutionizing automation and data analysis to cutting-edge developments in blockchain that promise to enhance security and transparency. Additionally, we explore advancements in fields such as quantum computing, the Internet of Things (IoT), and 5G connectivity, all poised to drive future success and growth. Stay informed and equipped with the essential insights and knowledge you need to navigate the dynamic and rapidly changing tech ecosystem.

Legacy Mainframe Environment

Today, tech execs are concerned about the mainframe computer application code. Many companies have had mainframe computers since the 70s and 80s. Large companies, particularly in insurance and finance, built applications during that time that still run on mainframes now. These applications consist of mostly COBOL code, with millions of lines.

SIDE NOTE: COBOL is the oldest still used programming language, developed in 1959. The only other language even close in age is C, which was developed in the early 70’s.

Today’s mainframe computers have powerful processors and seamlessly run COBOL applications alongside Docker containers. Tech executives face challenges with complex COBOL, PL/1, and Assembler code, as well as managing decades of data in diverse environments like DB2, MySQL, and Oracle. We’ll discuss data in a future post.

Mainframe applications have long been vital for enterprise business processing. They were game-changers, and still handle key workloads effectively. However, the drive to convert or move these applications has been slow. Today, tech execs face fierce competition in aggressive markets. Outdated systems hinder companies from keeping up with innovative rivals. Cloud computing enables competitors to invest in new systems without hardware burdens. Consequently, older companies face disadvantages and must modernize their legacy application environment. The three reasons for this transformation are:

Agility: Companies need IT systems that can be updated for functional processing requirements in a timelier manner. Shorter development cycles are a must for organizations to keep pace.
Cost: The mainframe is the costliest computer available. In many organizations, it’s also difficult and time consuming to maintain. The complexity of the code and data environments makes keeping the systems up and running difficult. Modern cloud technologies offer a significant reduction in cost of ownership.
Risk: Knowledge of legacy environments is fading away as programmers who developed this code many years ago retire. Skills in COBOL, PL/1, CICS, etc. are becoming scarce, making managing the applications and responding to major incidences more challenging.

To remain competitive, organizations must tackle legacy mainframe systems. The transformation should uncover the current state and map out an ideal future state. Develop a value proposition with a total cost of ownership analysis for transitioning to the cloud. When it comes to maintaining the mainframe and harnessing the power of the cloud, it’s worth considering strategies from industry leaders like IBM. Take into account the costs of migration and retooling, but also weigh them against the benefits of ownership. Furthermore, take the time to explore the numerous advantages that cloud computing has to offer.

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Importance of Technical Skills

Technology is reshaping the business landscape, and employees must adapt to avoid obsolescence. As organizations rely more on digital tools, adapting to technological advancements is key to professional resilience. Particularly, tech executives must prioritize the importance of technical skills to remain at the forefront.

Understanding emerging technologies impacting your work is essential. For instance, ChatGBT exemplifies a tool that replaces certain human tasks, offering advanced conversational capabilities and efficiency, though it’s not the only transformative technology. As a technology leader, it is your duty to prepare your organization for such shifts. This preparation involves understanding the impacts of new technologies and devising strategies to integrate them into existing processes.

With the importance of technical skills as a high priority you need to develop a comprehensive plan.

Grasp the technological impacts on the workforce and business as a whole. Align the technology team with business leaders to develop an employee training strategy, focusing on necessary technical skills and strategic thinking to leverage technology effectively. Encourage a culture of innovation where employees feel comfortable experimenting with new tools and methodologies.

The cloud greatly impacts business operations, transforming IT service approaches and enabling businesses to engage in decision-making with more agility and efficiency. By using cloud capabilities, businesses achieve seamless enablement and enhanced agility—the ultimate goal of investing in a flexible, globally deployable infrastructure. The shift to cloud technologies enables organizations to scale operations quickly, respond to market demands with agility, and optimize costs. Relying on vendors for infrastructure management creates new opportunities for IT departments, making a strong training plan crucial. This involves equipping teams with the skills to manage vendor relationships and ensure that cloud solutions align with business objectives.

IT is transitioning from infrastructure support to business enablement.

The IT team needs Agile skills, vendor collaboration, quick identification and implementation of new technologies, and active engagement in becoming more business-centric. This transformation requires IT departments to change their mindset, focusing on understanding business goals and how technology drives value. Training should develop these skills, enabling IT professionals to be strategic partners in the organization’s growth and innovation.

One way for tech executives to stay informed about emerging technologies is by networking with other professionals in the industry. Attending conferences or joining online communities can provide valuable insights into current trends and innovations.

Besides technical skills, soft skills like communication, collaboration, and adaptability are increasingly important in the tech industry.

As technology advances, teamwork and effective communication between departments and teams are crucial for successfully integrating new technologies.

In summary, technology is constantly evolving, and individuals and organizations must adapt to thrive in this fast-paced digital landscape. As a tech executive, staying informed, planning for effective technology integration, and fostering a culture of innovation are crucial. By staying ahead and enhancing technological expertise, you can become an invaluable asset in today’s tech-driven business world.

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Pandemic’s Influence on Technology

The pandemic’s influence forced tech execs to prepare and to look at digital technologies and business applications in a different way.

Before the pandemic, 65% of companies invested in digitalization. In the beginning of 2023, the spread of digital investments has surged even more: 75% of companies plan to invest in these areas due to a hybrid work model. This shift has led to the widespread adoption of digital technologies in personal and professional settings, driven by the necessity of remote work and online communication during social distancing measures.

The pandemic’s influence has forced businesses to make substantial investments in new tools and platforms to facilitate remote work and uphold productivity levels. These investments encompass a wide array of resources such as advanced collaboration software, cutting-edge video conferencing platforms, efficient project management tools, and versatile cloud-based services. The surge in demand has ignited a wave of innovation and heightened competition within the digital technology market, prompting companies to continuously enhance their offerings to provide optimal solutions for remote work environments and seamless communication processes.

Moreover, the global pandemic has underscored the critical role of cloud computing in facilitating smooth and secure remote access to data and applications. The scalability and adaptability of cloud platforms have emerged as indispensable assets, ensuring uninterrupted business operations and continuity amid the unprecedented challenges brought about by these times.

The future holds promising advancements in infrastructure and information system security. Moreover, it encompasses the development of business-supporting models by leveraging cutting-edge technologies like Big Data, IoT, and Cloud Computing. These technological advancements are set to revolutionize the way businesses operate, ensuring improved efficiency and effectiveness in the long run.

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