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The Future of the Software Developer Role – ReadWrite

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Bruce Orcutt


Software developers have been one of the most challenging jobs to fill in the U.S. for nearly ten years, so it’s no surprise that the developer shortage is set to escalate, with new figures showing a 35% shortfall by 2025.

With analysts predicting that as much as 90% of organizations will be going digital and deploying robotic process automation (RPA) by the end of 2022, this talent gap can significantly impact operational efforts, hiring processes, and growth efforts in every industry.

According to one study, it takes 50% longer to hire talent for tech roles than other positions, and, on average, it takes 66 days to hire the right fit.

IT leaders must figure out how to handle developer talent challenges to ensure their intelligent automation initiatives are not stalled or derailed.

What are software developers, and why is there a shortage?

Software developers are the masterminds behind computer programs and systems. In the realm of intelligent automation, they integrate and manage capture solutions. The solution then gets direct business-critical data from customer communications. Automation then automatically classifies, extracts, validates, and directs business solutions.

Other automation then is focused on identifying, creating, and improving operational processes.

Most of their work focuses on writing code and overseeing and monitoring systems and applications.

Business leadership and knowledge workers depend on the work software engineers do to have access to the large amounts of data within content and processes to be able to discover patterns and insights that can improve customer experiences and better business outcomes.

Technology constantly evolves, which usually leads to increased demand for software developers, but there currently isn’t enough talent.

The Shortage

The widely reported software developer shortage has a considerable impact on enterprises – ranging from overwhelming workloads and halting innovation to not keeping pace with competitors.

Additionally, building intelligent automation projects takes time, often several months to more than a year. While it varies from workflow and complexity of the business process, the time it takes to build and monitor after implementation can be resource-consuming.

One telecommunications company we recently engaged with had 80 bots running continuously, with 45 people managing them. It is quite possible to reduce that to one person.

Automating the automated

Learning to code is similar to learning new languages, but what if you could add code within the enterprise as fast and easy as adding a skill to Alexa to turn on the lights? What if your automation could create and improve other automation?

RPA bots could be the best area to start with this concept, but automating automation can be applicable to almost everything.

For example — automatically capturing, classifying, and distributing customer content during onboarding or account opening ensures error-free. Think verification of data, making it available for business processes.

We’ve heard of building code that can code, and the same concept could be applied to automation that can monitor, understand, and create another automation within a business process.

Self-Healing Automation

Then, imagine taking a step further and implementing self-healing automation. Once you create automation, you can continuously monitor it to see how it’s working with process intelligence.

If it’s not working well, you can create alerts that take action and trigger another automation to fix the broken automation. Ultimately, you would make automation that can repair itself.

The self-healing solution can create a cycle where developers are no longer delegated to mundane tasks and have more time to use their creativity to identify new innovation opportunities within the company.

The future of developers demands a new strategy

.Digital transformation has always focused on making processes easier for the business side. IT professionals have been used to manage new, complex technologies and keep them running.

No, and low code

To address the developer scarcity while meeting innovation demands, leaders need to turn to low-code and no-code (LCNC) platforms to make it easier for business users to become citizen developers and be empowered to quickly design, train, and deploy skills to intelligent automation platforms.

In fact, Gartner estimates that by 2024, 75% of large enterprises will have four or more low-code development tools for IT application development and citizen development initiatives.

A growing area within LCNC platforms is adding content intelligence skills to RPA.

The content intelligence skills are added to other automation platforms that enable it to understand, extract and classify content without needing an expert in machine learning.

For example, an accounts payable analyst could add a pre-trained invoice processing skill to enable the bot to read and understand fields within invoices. In addition, pre-trained skills for different document types are now becoming easily accessible from digital marketplaces and can be trained and deployed within days vs. months.

Knowledge workers can be more hands-on with LCNC platforms and get insights from documents to increase productivity and improve operational efficiency.

To illustrate this concept, picture an office worker who uses copy-and-paste from one document or system to another or clicks the same area on a screen dozens and maybe even hundreds of times a day. Copy and paste is a repetitive, mundane routine that is ripe for mistakes.

Imagine a message pops up on the screen from a bot that recommends automating that task? Then an alert would tell the worker when a bottleneck occurs. When automation is on board, the bot will recommend a different workflow to avoid future delays or deviations.

Automated automation and self-healing automation work in tandem to keep the worker’s tasks and overall business processes operating efficiently.

Automation is usually implemented when the business user initiates the automation — not a developer.

As the developer shortage continues and organizations seek to keep a competitive edge in an ever-growing digital world, they must embrace more accessible and more innovative ways of achieving intelligent automation.

Adapt quickly for the digital transformation

Leveraging low-code/no-code platforms with the necessary cognitive skills will help you achieve automating the automated and adapt quickly to meet the rapid, continuous changes in digital transformation.

Image Credit: Christina Wocintechchat; Unsplash; Thank you!

Bruce Orcutt

Bruce Orcutt is VP of Product Marketing at ABBYY, a Digital Intelligence company. He helps organizations to gain complete understanding of their business and raise their Digital IQ.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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