Nordic Business Forum 2018 – Key Takeaways

One of the central themes of this year’s Nordic Business Forum was Peak performance. In today’s information society, people are working in the midst of continuously increasing amounts of information. NBF18 catered various interesting presentations about everyone’s need for rest and recovery, tactics for concentration and finding the flow state, innovation culture, doing things differently and questioning matters and means of doing when necessary.

As the amount of information and web traffic increases, people don’t have enough resources to build sufficient protection and data analytics, but instead they have to seek for help from automation. Everyone needs to be offline at times, to relax, and not to worry about work. AI and automation have a growing role in how information society works when we are out and about. What has to be in order on the background for us to relax with a peaceful mind? How can we move from information flood to information security? When the cyber security of a company or an information system is verified by cyber security professionals, one can trust monitoring and protection solutions, and detach oneself from being on call and tracking different information streams.

“Companies, act your age!” – Aswath Damodaran

Aswath Damodaran is Professor of Finance at the Stern School of Business at New York University. At NBF18 he brought up the themes of corporate valuation and lifecycles. 

Companies should act according to their age and growth stage. Companies that don’t act according to their growth stage – try to accelerate their growth or slow down their aging – destroy value by supporting the ecosystem that makes money from these processes.

Developing cyber security according to different growth stages is also important, so that the information security is not forgotten at any stage. Managing the increasing amounts of data cannot be left as “once I have time” type of matter, but instead it’s important to cover one’s back by making sure information security is taken care of. Corporate growth and passion for doing business carries away easily. When company’s data storages grow, and the company is in charge of e.g. confidential customer data and large amounts of personal data, executives should remember to level up data protection to a corresponding level.

Blockchains and chicken nuggets – Don Tapscott

Don Tapscott announced the arrival of the second era of the digital age at NBF18. This era is characterized by e.g. AI, machine learning, VR, IoT and autonomous vehicles – and at the heart of this transformation is the blockchain technology. This technology will be a crucial platform for the evolution of a true sharing, network economy. Blockchains, by itself, won’t resolve everything, and it won’t build up by itself, but according to Tapscott the technology is our best aid in actualizing the digital economy.

The information security of blockchains is a common concern. According to Tapscott, disaggregation of an information security mechanism that is based on blockchains, is just as easy as transforming McDonalds’ Chicken McNugget back to a chicken. The information within blockchain infrastructure is as processed as a chicken nugget. If one would want to revert it back to its original form, a miracle would be needed.

elfGROUP develops and assesses cyber secure, networked information systems, whether they are based on IoT, blockchain or some other more established technology. Each of these systems has software in their core – software that is always close to our heart.

Obama, the highpoint of NBF18

Informatio security

It was definitely memorable to see president Obama on stage. He emphasized how the world is becoming smaller and how we can no longer live in silos, but instead we always have to consider the global community, whether it’s about environmental issues or technological development. According to Obama, there are no secrets left in this world in a sense that people from any part of the world can see how people live in other parts of the world and can strive for similar life conditions.

Obama also complimented the Finnish education system and emphasized the significance of education as well as investing in young people. He brought up how the integrity, sincerity and honesty of person’s first relationship affects our ability to be a leader and be in interaction with other people. It’s good to build wide and demanding entities on this foundation of trust – one sort of architecture planning as well 😉

 

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About the Author: Tuomas T.

Tuomas T.

Tuomas is the founder and CEO of elfGROUP. Identifying himself as more of a software, security and IT infra geek than a business leader, elfGROUP is his third self-initiated business endeavor in addition to previous technical positions in data security, insurance and financial corporations. In his daily role Tuomas is working hands-on with the elf team members to help our customers in the best possible way to improve their overall cyber security, both in the software and IT infra domains. Free time activities include jogging, snow mobile riding and recently also some martial arts.