As the global workplace evolves with the uncertain future of work, so does the enterprise storage infrastructure. With business happening anywhere and at any time, business data needs to be agile and always available. Legacy storage hardware simply cannot keep up. So if you’re looking to build for the future of work, software-defined storage is the only way to go.
Here’s what the storage infrastructure for the future of work needs and why software-defined storage is the best way to build it.
What to expect when building a storage infrastructure for the future of work
Regardless of the state of the future of work, here are five things your storage infrastructure needs to account for to be truly future-proof:
Business data should be highly available
Leaving aside the “where” and “when,” business data should be readily available. Customers don’t like to wait. Delays hurt business and reputation.
If your customers, or DevOps, have to wait for you to find a way to access data, it will hurt your business.
Note: High availability differs from data protection. High availability means making sure that data is always accessible no matter what state it’s in. This implies that high availability does not prevent accidental/malicious deletion, virus infection, or ransomware attacks.
Make sure you can scale storage when needed
The one thing that’s certain about data is that it will grow. Plan ahead and build a storage infrastructure that is easy and quick to scale.
Be sure to balance things out. You don’t want to amass tons of idle servers or run out of available storage space too soon.
Data protection is a must
Ransomware attacks are a real threat. With each attack, ransomware evolves. Your defense against ransomware needs to keep up.
When building a storage infrastructure, don’t compromise on data protection. It shouldn’t be an after-thought or last priority. Because it’ll cost you a lot more than the cost of using data protection features.
Will data protection add more to your budget? For sure. Will it be worth it, though? Most definitely.
You’ll probably need cloud storage too
Statista estimates that as of 2020, about 50% of all corporate data is stored in the cloud. Regardless of scale or the industry, chances are that you’ll need public/private cloud storage.
When building storage infrastructure or acquiring new storage systems, it’s good practice to make sure that cloud connection is included.
Storage management should be easy
Flexible storage infrastructures are often difficult to manage because of the diverse range of their capabilities. Depending on the software, the more features you add the steeper the learning curve is.
Once you’re done putting together the hardware and software capabilities, don’t forget to consider ease-of-use and storage management.
Management overhead, if overlooked, can outweigh the utility of multi-purpose storage infrastructures.
It’s challenging to build a storage infrastructure that checks all the above requirements. And that’s where software-defined storage comes in.
Future-Proof Your Storage Infrastructure with Software-Defined Storage
Software-defined storage enables you to overcome legacy infrastructure limitations and build future-proof storage capable of keeping up with the future of work.
With the right software-defined storage solution, you can:
Dynamically provision highly available storage
Virtualize available storage resources into a pool to distribute and allocate storage to different user groups, projects, and applications on the fly.
Software-defined storage delivers cloud-like storage provisioning capabilities. You can provision storage with a few clicks without disrupting any critical operations.
Look for the following storage features for high availability:
- Synchronous (real-time) replication
- Asynchronous replication
- Multi-site/multi-appliance replication
- Storage clustering with automated failover and failback
- Load balancing
Scale storage capacity quickly and seamlessly
Software-defined storage enables you to:
- Scale allocated storage, CPU, and memory with a few clicks.
- Expand capacity using integrated public/private cloud storage repositories.
- Reclaim and repurpose idle capacity for new projects.
The ability to scale quickly and without delay also enables to control the cost of storage by starting small and scaling as data grows.
Make your storage ransomware-proof
Most software-defined storage solutions come with some form of data protection. However, data protection features are offered as optional upgrades; which means the price is not included in the standard license. Except for StoneFly’s software-defined storage which offers them by default, for no additional cost.
Data protection features you should look for in a software-defined storage solution:
- Air-gapped volumes
- Immutable storage snapshots
- Write-Once Read-Many (WORM) repositories
- S3 object lockdown
- Advanced encryption (such as AES 256-bit at rest and SSL/TLS tunneling)
- Anti-ransomware and anti-virus
Cloud integration is built-in
Software-defined storage enables you to connect your servers and applications to cloud storage. Supported Cloud Service Providers (CSPs) vary depending on the vendor.
Manage everything from a single GUI
Software-defined storage solutions are designed with a focus on simplifying management. While capabilities and GUI vary depending on the vendor, most software enables you to manage storage and features from a single browser-based GUI.
Management features that you should look for in your software-defined storage solutions:
- Automated storage tiering
- Real-time monitoring and reporting of resource consumption (storage, network, bandwidth, CPU, and system memory usage).
Better Total Cost of Ownership (TCO)
The ability to reclaim unused storage space, integrate cloud storage, and monitor resource consumption effectively puts you in control of your storage and helps reduce TCOs.
The future of work requires data storage that is highly available, can scale dynamically, supports cloud storage, and is easy to manage. The best way to build such a storage infrastructure is to use software-defined storage solutions.
Software-defined storage provides better control, reduces storage costs, and puts you in control of your storage resources.
If you’re looking to build a storage infrastructure that can adapt to office, remote-based and hybrid work environments, software-defined storage is your best bet.
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Fintech Kennek raises $12.5M seed round to digitize lending
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!
Fortune 500’s race for generative AI breakthroughs
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!
UK seizes web3 opportunity simplifying crypto regulations
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!