Inside CTO/CIO - February 14th, 2019 | Inside.com

Inside CTO/CIO (Feb 14th, 2019)

Brexit's bite begins, recession looms, Elon Musk as a CIO

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1. Bank of America's Brexit bill is $400m after moving key operations out of London -- with no chance of the company's return. BofA Vice Chairman Anne Finucane told the European Financial Forum the decision would not be reversed even if Brexit gets canceled. "Dublin is our headquarters for our European bank now -- full stop," she stated. This is just another sign that Brexit is packed with losses: major brands like Sky, Unilever and McDonald’s have slashed their UK ad spend in prep for Bexit, and the British Chamber of Commerce has stated that uncertainty over Brexit is stifling business investment. Making matters scarier, a Bank of England policymaker told press today that Brexit is currently costing £800M a week. --RTÉ


2. Today US retail sales had their biggest slide in nine yearsThe bad news aligns with a dire warning just issued by Vanguard Chief Investment Officer Greg Davis, who predicts a global recession within two years. At the at the annual Inside ETFs conference he stated the odds of a recession this year have jumped to 35% from 30%, with chances for a 2020 recession in the 40% to 50% range. This might be a really good time to revisit guides on IT spending and budget decision-making during a recession. --GUARDIAN


3. Experts at CHIME CIO Forum told attendees IT is not a go-to solution for better customer outcomes. At the conference of the nation’s top health-care Chief Information Officers, electronic health record application was cited as creating unnecessary divisions between doctors and patients. The US healthcare industry is currently spending twice as much as other countries on tech yet still delivers "poor [patient] outcomes." And despite recent advances in potentially game-changing tools like AI, speakers cited the disappointing results of IBM's Watson Health venture as indicative that useful AI for healthcare isn't here yet. --EWEEK


4. CIOs must lead organizational cultural change for successful digital transformation, according to Gartner. “In 50% of cases, transformational initiatives are clear failures and CIOs report that the main barrier is culture,” said Christie Struckman, research vice president at Gartner. She said CIOs must begin with culture change at the outset of digital transformation, not wait until it's too late. --INFORMATION AGE


5. JP Morgan Chase is introducing JPM Coin, the first US bank-backed cryptocurrency intended for use by corporations in its massive wholesale payments business. Even though JP Morgan's Jamie Dimon once slammed bitcoin as a "fraud," the bank will begin trials in a few months. --CNBC

6. What would Elon Musk do (as CIO)? In an amusing exploration, TechRepublic details the many ways Musk might be a fascinating and unusual innovator if he applied his style to IT leadership, including no tolerance for the impossible and audacious innovation. --TECH REPUBLIC

7. Thirteen Forbes Technology Council members shared their top budgeting strategies for IT departments and it's a list worth your click. From choosing low-commitment subscription services to collaborating with line-of-business units, especially with it comes to IoT. --FORBES

8. There's a case to be made for the enterprise business opportunities offered by the Apple Watch. Organizations including Capital One, SAP, Salesforce, and IBM all have easy-access collaboration and information management tools for the device. --COMPUTERWORLD

9. Juniper Networks Inc. just finished its seven-year cloud move, in which it closed the last of its 18 data centers and moved 85% of its applications to Amazon Web Services. Listen up: Juniper CIO Bob Worrall offers a ton of lessons learned and actionable advice. --WSJ

10. Docker and Kubernetes containers have been revealed to be badly vulnerable, along with many other flavors of container. The "doomsday" security hole is as bad as it gets, so teams need to drop everything and patch. --ZDNET


This newsletter is curated and authored by author and reporter Violet Blue, who covers security and privacy for outlets ranging from CBS News and CNET to Financial Times and ZDNet. Ms. Blue has been featured on The Oprah Winfrey Show and CNN, she writes the Engadget column "Bad Password," and she is the author of The Smart Girl's Guide to Privacy. Violet is on the Advisory Board for privacy nonprofit Without My Consent and a member of the Internet Press Guild. Find her sharing thoughts on Twitter @violetblue.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies) and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).


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