The recent call by Grenada’s Prime Minister for the unification of the region via ICT is an opportunity for Caribbean countries to explore the seemingly endless potential of technological advancements, to create a powerhouse of our own. If we were to redefine the IT department into a fully functional business unit, focused on business areas and business value, this marketing-type perspective can allow the delivery of competitive services rather than just support services.

The technology already exists that can give Caribbean businesses an edge in the global market. Some of these include –

• Pervasive Computing – used by mobile apps to automatically “find the user” based on the situation. Now this is exciting for Caribbean mobile users as 12 out of 16 countries surveyed in 2013 show mobile/cellular subscriptions densities over 100%
• Seamless Collaboration – it is easier than ever for people almost anywhere to work together in this digital age. Employees are expected to take advantage of the ever increasing popularity of social media without any formal training. By adjusting the work and processes to be more social-driven and collaborative, the organization can become more productive, efficient and innovative.
• Cloud – there is no question about using the Cloud, just “how” to use it. This will be determined by the organization’s proactive approach to the growth of hybrid cloud, especially in equipping the relevant staff with the skills required to allow the components to work seamlessly.
• Active Defence – breaches in security can pose risks to business operations during disruptions; the reputation of the organization becomes sullied should customer information be compromised; and of course the financial impact of either of these can be crippling. No longer can IT security be about monitoring and prevention alone but pre-emptive action must be taken to stay flexible, adaptable and always one step ahead of the potential danger.

There are many more innovations available to us here in the Caribbean but one aspect of implementing and using new technology that is overlooked or given little attention is the human aspect. It is not always possible to engage all employees in the decision making process but consultation with staff most impacted can allay fears of the impending changes. Rumours are often believed before any real communication occurs and this is where the IT unit can be used as the internal change agent group to facilitate the communication process between management and staff.

The possibilities IT present are endless to businesses serious about enhancing the customer and employee experience while positioning themselves to be more responsive to opportunities and threats.

Original article: ICT can help!'">Taking Caribbean Businesses Forward ICT can help!

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Note that an FFI is any financial institution such as banks, credit unions, insurance companies, bond brokers or money managers. However, FATCA also impact any foreign entity (call Non-Financial Foreign Entities, NFFE) who is the recipient of a US sourced payment, and the NFFE will have to show its FATCA status. Withholding tax may also be imposed on those NFFE who does not provide information on each of their “substantial US owners”.

The FATCA essentially turns all FFIs into agents of the IRS, reporting the status of account owners who are US citizens. It is the Responsible Office (RO) who is required to make certifications to the IRS regarding compliance with FATCA. The IRS can terminate the FFI compliance agreements if the required certifications are not made and the FFI will be subject to the withholding tax. There are also penalties to pay for incorrect reporting for compliant FFIs.

You can find more information from the IRS Website.

Here are some other FATCA facts that you may not know.

• Increased Bank Fees – FFIs will need to re-engineer their business processes to meet the FATCA compliance. This means that much cost will be incurred initially and on and ongoing basis to meet FATCA compliance. The Banker’s Association of Trinidad and Tobago (BATT) estimates the cost to implement FATCA will be around US$100 million. This cost will be passed onto the customer, resulting in higher bank fees.
• New IT Investments – New information technology infrastructure and software processes will be required to capture the necessary information and securely transfer the information to the reporting agency or the IRS.
• New Legislation – New legislation is necessary to allow FATCA, especially in terms of privacy and transfer of financial data. Because of legal implications, the IRS entered in Inter-Governmental Agreements with countries to overcome those issues. Several countries have already signed IGAs with the IRS. You can find a list at this web page.
• Non-US Citizen Flagged as a US Citizen – The due diligence performed by FFIs look for US indicia, which includes an account holder having a US address and US telephone number. If you are like me and many of the T&T population, you have a Skybox address tied to your credit card.
• Business Impediments – Even if you or your FFI is FACTA compliant, if you are sending money to a vendor, or through an FFI, who is not FACTA compliant, then they may be faced with the withholding tax, preventing the business transaction from proceeding. It’s quite possible that those entities may impose a 30% premium on goods or services provided. Update: Not all income is subject to the Withholding Tax. Payments that are subject to Withholding Taxes are any payment of interest, dividends, rents, royalties, salaries, wages, annuities and licensing fees if such payment is from sources within the United States, including any gross proceeds from the sale or disposition of U.S. property of a type that can produce interest or dividends. These payments also include passthru payments.
• FATCA Offers No Returns to Signing Countries – FATCA is not expected to bring any returns to non-US countries. Agreements are being signed to simply not lose money or risk being blacklisted in one way or the other.
• FATCA Offers No Returns to the US – FATCA is expected to bring the US about US$10 Billion over a 10 year period, far more than it’s going to cost the US or the rest of the world to implement and continue the FATCA process. This implies that FATCA is unfeasible, but the US is still proceeding with it; I believe that there is more in the mortar than the pestle.
• There is a Lot of Opposition to FATCA – Just Google “FATCA illegal”, or check out the website Repeal FATCA.

Personally, I believe that FATCA should strongly opposed by everyone. I simply cannot understand how FATCA could be legal by international standards.

What is your take on FATCA? Give your comments below.

Original article: How we in the Caribbean are likely to suffer for it!'">Facts about FATCA How we in the Caribbean are likely to suffer for it!

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While the report focused more on Latin America (the only Caribbean country with significant attention was Jamaica), our close proximity to South and Latin America means that we should consistently remain abreast of the developments there.

I read the reports and have distilled some of the highlights for you.

In General

A general increase in cyber incidents were reported by most countries. However, the belief is that this was due to better detection and security mechanisms put in place, indicating that attacks were happening all the time but were previously undetected. The report noted that in many instances there was no rating or scale used for the incidents that were detected.

Growth of Hactivism

An interesting trend that was noted was the growth in hacktivism or politically motivated hacking. These instances were not driven by financial gain, but were coordinated attack campaigns in response to legislative initiatives. These attacks brought the issue of cyber security to the forefront, and may have provided some benefit by making those in authority more aware of the threats out there.

Financial Losses

The report wasn’t able to quantify the losses caused by hacking, stating that it was impossible to gather, but still said that it was very high, possibly even greater than losses of any other form of crime. I find this a rather dubious claim though, and would prefer to see more evidence before stating such.

Threat to Industrial Control Systems

Industrial Control Systems (ICS) are at an even greater risk in the region, than in many other parts of the world. I gather that the report also included financial, transportation, healthcare, and telecommunications as having ICS. Trend micro found many ICS devices connected to the Internet, possibly for remote management and administration. This may not be a problem in itself, but it found that these systems will both unprotected by a password or unpatched. I know of a few cyber scams that have hit telecommunications companies within the region, but none that have hit industrial systems… as yet!

Keeping up with Cybercriminals

Trend micro found that the hackers in the region were learning from their counterparts in other developed countries, mainly from Eastern Europe. Meanwhile, law enforcement authorities were having a hard time keeping up with the cybercrime developments. The report cited inexperienced cybercrime investigators and the shortage of prosecutors who specialize in technology related offenses. There is also a need for highly skilled professionals who can secure networks, diagnose intrusions, and effectively manage cyber incidents.

Inadequate Security and Awareness of the General Citizenry

One of the conclusions formed was that the greatest form of attack was via file infections. This is an indication of insufficient security mechanisms on personal PCs and a lack of awareness of the general citizenry of how to protect themselves from cyber threats.

Impediments to Cybersecurity within the Region

The report brought to fore some of the major issues impeding the region’s cyber security efforts.

• Lack of information being shared about security events such as breaches, intrusion attempts, or attacks.
• Lack of law enforcement or federal laws and regulations.
• Skewed data about security incidents that may not be factual or just anecdotal evidence (“I heard that this happend…”).
• Differing standards as to what constituted a cyber incidents. Some countries only counted attacks on the Government as incidents, while others count everything.
• Lack of National Computer Security Incident Response Team (CSIRT).
• Lack of highly skilled professionals in the area of cyber security.

Recommendations

The report included three recommendations for governments and organizations in the region to help improve the state of cyber security.

1. Raise awareness of safe cyber habits and general cybersecurity awareness among Internet users, critical infrastructure operators, and government employees.
2. Invest in and promote enrollment in technical degree programs to ensure an ample pool of qualified candidates from which to draw professionals that would be needed to fill the increasing number of information security careers.
3. Continue strengthening policy mechanisms to assign governmental roles and responsibilities related to cyber security and codifying information sharing and cooperation mechanisms.

I would also include that the formation of CSIRT’s at both the organizational and the national levels, even at the regional level. This would help coordinate activities in addressing cyber security. And while I do not think we need to go as far as having degree programs, we do need to increase the pool of people who deeply know information security.

I recommend that you read the report here (pdf), and please forward it to others, especially those in the position to take the cause forward.

Do you think that enough efforts are being made to improve cyber security at both the organizational and that the governmental levels? Leave your comments below.

Original article: ... and what we can do about it!'">Trend Micro – Cybercrime on the Rise in Latin America and the Caribbean ... and what we can do about it!

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The insurance industry is based on risk and a person purchasing insurance does so based on all of the possible costs that may be incurred based on the probability of the risk occurring. So someone may spend the $50 to buy some accident insurance that has a probability of 1 in 100 happening that can may incur a cost of $1000.

Now securing IT is also based around the cost that may be incurred based on risk of an incident occurring. So for example if I have a piece of equipment that costs $500 that holds data that is worth $500, then I may spend $50 to secure that $1000 worth of equipment and data from a risk that has a 1 in 100 chance of happening.

Do you notice any similarities? Of course!

I may have oversimplified a few things, but the concept is basically the same.

The only thing to consider is that in insurance, they only insure you against the risk of something happening; IT security on the other hand puts mechanisms in place to minimize the risk of something happening.

With insurance you must take appropriate steps to prevent what to avoid it particular accident from happening, while with IT security, you’re spending money to reduce the risk of a particular threat happening.

The thing with IT security, as with insurance, is that you may never eliminate a risk. You may spend thousands and millions of dollars and still a risk may remain. But if you look at the similarities of IT security and insurance it doesn’t stop there.

Another way in which they are very similar is the way that they are sold. Have you ever been sold insurance before? I have, and I personally hate insurance agents! Insurance agents sell and fear uncertainty and doubt – FUD. They sell with statements such as, “You must think about your family,” or, “What would happen if you are sick or an accident happens and you are unable to work; how are you going to support them?”
They play on fears and appeal to your darkest emotions.

IT security vendors play a similar game. They also use FUD to put buyers in an uneasy and uncomfortable position where they believe that their risk is much greater than they may perceive it to be. This is one of the reasons that I hate sales pitches from IT security vendors.

Now don’t get me wrong, I believe that IT security devices are an important part of protecting an enterprise environment. But what I also believe is that a lot of people overestimate what is required to protect their environment and, in some instances, underestimate what they should be protecting.

IT Security is not as simple as just throwing technology in there and thinking that you are protected.

IT Security involves a full holistic approach with technology, your people and executive management to bring a certain level of awareness and behaviour that will ensure a secure environment. However many businesses don’t look at the people aspect and use too much technology for their IT security needs, often based on the advice of the same IT security vendors.

Take my advice and take everything that IT Security vendors say with a tablespoonful of salt.

I understand that having a lot of IT Security systems in place helps you feel comfortable and secure. But just as you can have too much insurance, you can have too much IT Security systems.

And too much IT Security systems can have the opposite effect of what you are trying to achieve. More on that point in another article.

Original article: Two sides of the same coin'">IT Security and Insurance Two sides of the same coin

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I’ve come up with eight technologies that we should continue to monitor and consider how you can use them in your business.

1. Cloud Services (SAAS and PAAS)

What is it?

Cloud computing is a model whereby you may make on-demand access to computer resources and services. There are three models of cloud computing, Software-as-a-Service (SAAS), Platform-As-A-Service (PAAS) and Infrastructure-As-A-Service (IAAS). I will go into more detail about cloud computing in a later article.

Why is it important?

Cloud Services has the potential to save businesses on infrastructure costs and simplify administration.

By cloud services I am referring specifically to SAAS and PAAS. I know that cloud services is not new, but it continues to have a serious impact on how businesses are run, and the direction that software vendors are now going. Almost all vendors are now offering some type of SAAS package – even Microsoft has embraced SAAS with their new Office 15. I see some impact of IAAS on voice and video services.

What should your business do?

Take some time to evaluate your current infrastructure and determine whether there are gains to be made by moving to cloud services. All costs should be considered as businesses often do not consider the price of changing providers.

Understand privacy and security issues as many of the cloud services are hosted in the United States and falls under their jurisdiction. One of the major concerns with Caribbean businesses on cloud services has been on how secure is their data.

2. Big Data and Data Analytics

What is it?

Big Data is the term given to vast amounts of data that companies may have amassed through the years. This data may be based on sales, marketing, production or customer behaviour. Data analytics is the process of going through that data to gain valuable insights for future decisions.

Why is it important?

Coming on the tails of Cloud Computing, Big Data and Data Analytics have become buzz words with many large enterprises, mainly because cloud computing allowed the analysis of these large amounts of data. Analysing data is not something new, as companies large and small have used historical data to determine trends. Big Data is used to find insights that never existed before. For example, historical analysis might show that sales are seasonal and when is the best time to bring out a new product. Big data may show who the most likely people to buy a product are, when the most likely time they will buy the product is, and how you can encourage them to buy your product.

What should your business do?

Start pulling your data sources together. In the Caribbean, we don’t have as much data as other parts of the world, as we do not have as large a market and we haven’t been collecting data as much or as long as we should. If you aren’t collecting data, then you should start. Just be wary of collecting customer’s data without their consent, especially if you plan to give that data to another party.

Understand the options for analysing data and have an idea of what kind of insight you are looking for. It’s no use crunching a whole bunch of data hoping to find something; there is a scientific method of analysing data by coming up with a hypothesis then testing it.

If you plan to analyse data then get a statistician or data analyst on board who understands how to do the type of analytics required. Do not think that the IT department has those set of skills, as they generally do not.

3. Truly “Personal” Computing

What is it?

The personal computer is meant for use by individuals. By “personal” computing I mean that computers become more customised to the individual user offering services and information suitable to that person.

Why is it important?

People want information quickly, but not just any information, the right information. But each person is unique and this involves an individual allowing a huge amount of personal information to be gathered so that trends can be analysed for better guesses later on. Google Now is one service that is making some serious headway with this.

What should your business do?

As people become more expectant of real-time, accurate information, your business will also need to be able to meet such needs. Consider portals that users can connect to that provide information on orders, queries and billing so that there is less hassle. Ensure that this system is secure to limit the risk of malicious attacks.

Collect data on customers for analysis so that you can be better equipped with information more suited to the individual rather than your entire market, even if you have them categorised by groups.

4. Smartphones

What is it?

Smartphones are feature-rich mobile phones, typically running a mobile operating system that allows the installation and running of third-party applications, so that they may be used, almost, as a personal computer.

Why is it important?

The numbers of smartphone purchases are steadily increasing as the number of non-smartphone (called feature phones) are steadily decreasing. As smartphones become cheaper, almost everyone will have one, and, coupled with higher and cheaper data rates by service providers, will allow users to have on-the-go access to information, both work and personal. The number of applications available for smartphones now range from games, to social networks (Facebook, Twitter, etc), to cloud-based services.

Customers and consumers can use smartphones to research products in the store and get feedback and reviews from friends or strangers. More users are using their smartphones for general purpose web-browsing and e-mail access rather than desktops.

Employees can now use smartphones to connect to company applications to perform business tasks, such as sales order generation or invoicing, in real-time. As more employees are coming in with their own smartphone into the workplace, the bring-your-own-device (BYOD) movement will become more important. I’ll speak more on BYOD in a later article.

What should your business do?

Start by developing a mobile strategy from both the corporate side and the consumer side. By mobile strategy, I mean how your business is going to position itself to take advantage of the advances in mobile.

Understand the risks of mobile, particularly with company data on mobile devices; mobile devices are lost regularly and the data on the devices are usually more valuable than the device itself.

5. Augmented Reality and Location-Based Services

What is it?

AR is the enhancement of the visualisation of the physical environment with computer generated information. An example of this is the Google Project Glass concept.

LBS is specific services that is offered based on your location. An example of this is performing a search on Google for restaurants – a search while you are in Trinidad will bring up Trinidadian restaurants, while a search if you are in Barbados will bring up Bajan restaurants.

Augmented Reality (AR) and Location-Based Services (LBS) are two different applications, but the business potential are similar. LBS is available now, while AR is still under development, but I believe that AR will make some rapid leaps this year.

Why is it important?

AR and LBS will allow businesses to offer more relevant information to consumers, and combined with data analytics, can offer valuable insight into your customers’ behaviours.

What should your business do?

How you use AR and LBS will depend on your mobile and marketing strategy. Using LBS, you can develop a mobile application that notifies a user of a sale on a particular item when they are close to a store, for example, and then use AR to help that user navigate your store. Remember that AR is a developing technology, while LBS is currently in use.

6. The Internet of Things and Pervasive Computing

What is it?

The Internet of Things (IOT) and Pervasive Computing envisions a world where everything is connected in some way to an “Internet”; Internet is in quotes, because that Internet may not be the Internet we now know. This technology will allow us to communicate with everyday devices such as clothing and refrigerators, to the machinery in the manufacturing plants.

Why is it important?

Pervasive computing can open the market to new products using old products. For example, Nike created it’s Nike+ series of products that allows consumers to gather biometric information while at play to help them measure and improve their performance.

Businesses can use the IOT to gather information from the plant to make more timely business decisions such as supply chain management and enterprise resource planning.

What should your business do?

Start thinking inside the box, where you look at your current products and determine if there are advantages to the consumer of connecting your product to the internet.

Review your current plant infrastructure and determine if you can benefit from more real-time information of how they are being used.

Also be cognisant of data security when connecting devices to networks, so ensure that access to these devices are protected.

7. 3D Printing

What is it?

3D printing is a process for making 3-dimensional objects from computer generated designs. The process is currently performed by using a layering or additive method by laying material upon each other until the object is completed. The majority of 3D printers create plastic objects, but there are some that create metal ones.

Why is it important?

3D printers have been around for some time, but now have become much more affordable; even domestic printers are available for hobbyists.

These printers allow manufacturers to create rapid prototypes, allowing them to test designs before moving them to more permanent lines. Because the cost of prototyping is less, designers can be more open to trying new and creative designs that may have been previously cost prohibitive.

The printers also allow for rapid manufacturing where small quantities of parts might be required for a small order. Manufacturers will not need to adjust a line just to create those parts.

What should your business do?

If you are a manufacturer, explore your design process and determine if there are opportunities for rapid prototyping and whether 3D printing can help improve your time-to-market of new products.

8. New and Improved Human-Machine Interfaces

What is it?

A human-machine interface is the process by which humans interact with a machine or a computer (sometimes called a human-computer interface). This interface is mostly known as the keyboard and monitor, but can also be the control screens of process plants, or the touch screens of phones.

Why is it important?

After many years of interacting with computers by keyboard and mouse, technology has improved where voice commands are more reliable, and gesture controls are more capable. Not only do these new interfaces allow you to improve the speed of computerised processes, but it’s also very cool.

Apple’s Siri generated a lot of interest when Apple introduced it back in 2010; although it has not quite lived up to the hype, it opened ourselves to a new way of interacting with our mobile devices.

Microsoft’s Kinect system, while originally developed for it’s Xbox gaming system immediately found favour with hacking enthusiasts who used it to create gesture controls for computer applications including educational and medical uses.

What should your business do?

As always, peruse the technology landscape and see what improvements are available to allow you to improve your business processes.

Don’t be afraid of being innovative and try to develop new ways of using these technologies in your current processes to improve usability.

Conclusion

So there they are, my predictions of the eight technology trends that will likely have a great impact on Caribbean businesses, and well, all businesses in general.

What do you think? Is there any technology that you think that I should have mentioned? Or do you think that I am wrong with my current predictions? Chime in below.

Original article: and what should your business do about them.'">8 Tech Trends for Businesses to Watch for in 2013 and what should your business do about them.

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In an address to the audience during a recently concluded seminar entitled “Cloud Vision”, the Honourable Minister of Science, Technology and Tertiary Education (MSTTE), Fazal Karim, said that technology services should take into consideration our mobile penetration. The seminar was held by the Trinidad and Tobago Coalition of Service Industries (TTCSI) and the Trinidad and Tobago Information and Communications Technology Society.

In the Caribbean, there is an average mobile penetration of 62%, compare that to Trinidad and Tobago with a penetration of 141%, which means that many people have more that one phone. This is quite high, but the question is what type of phones; unfortunately we don’t have an answer for that. Based on data gathered from Asymco, 70% of worldwide phone are non-smartphones. See Chart 1.

The US is not much different, with about 65% of phones being non-smartphones (see Chart 2). My guess is that the landscape is no different here.

So if we are to develop applications to take advantage of our mobile penetration, what platform should we develop on? The answer, all depends on who our market is.

If you are building for a niche, with graphic user interfaces (GUI) then you should develop in one of the other OS platforms. I think that Android will have a higher penetration among smartphone users, since many low cost manufacturers are porting the OS onto their hardware as it is free and open source. This may mean though that the OS may become heavily fragmented with developers having a difficult time coding their application to support the many versions out there. iPhone has less fragmentation, but the price premium may keep it out of reach of lower income households. See Chart 3 on the current US OS share and installed base for smartphones.

HTML5 has a lot of promise, but this is dependent on web services being available on mobile phones. This usually comes at a price and may not be available wherever there is cell service. Additionally, not all mobile platforms may natively support HTML5 in the phone’s browser, essentially rendering the application unusable.

If you are building an application for the masses, then the application should be SMS (Short Message Service) based. SMS will work on both smart and non-smart phones, is a familiar interface for many users, and will work reliably once there is cell service.

In conclusion, mobile applications being built for citizens at large, should still operate on the SMS platform. In the foreseeable future, I think it is unlikely that smartphone penetration would overtake non-smartphone penetration. However, skills should be kept up-to-date to take advantage of any changes in policy or technology that allows smartphone use to increase dramatically.

Original article: Mobile Applications for the Mobile Phone Market

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