Archives for February 2022

February 23, 2022 - Comments Off on You can use artificial intelligence to fix your broken code

You can use artificial intelligence to fix your broken code

February 23, 2022

by Todd Erickson

Mainframe systems are used across industries and around the globe, with over 10,000 currently in worldwide use. They are relied on by some of our most important institutions, including 96 of the world’s 100 largest banks, nine out of 10 of the world's biggest insurance companies, 23 of the 25 largest U.S. retailers, and 71 percent of Fortune 500 companies. Unfortunately, often because of a lack of detailed understanding of these mainframe systems, making source-code changes can be costly, risky, and can tarnish the organizations' reputations.

Phase Change President Steve Brothers recently wrote an article for BuiltIn.com titled, "You Can Use Artificial Intelligence to Fix Your Broken Code," which explains how artificial intelligence (AI) can help developers better understand the codebase, and help them find code responsible for application behavior at machine speed. Developers will no longer have to pore over millions of lines of code to unearth the intent of previous developers and find the source code that requires change.

Read the entire article here.

Todd Erickson is a Technology Writer with Phase Change. You can reach him at terickson@phasechange.ai.

February 16, 2022 - Comments Off on How banks should leverage the power of automation

How banks should leverage the power of automation

February 16, 2022

by Todd Erickson

Mainframes are widely considered the backbones of many global financial services firms because they deliver unparalleled security, stability, and processing power. From credit card payments and ATM transactions to loans and mortgages, mainframes are relied on by 44 of the top 50 banks to host core applications that deliver secure experiences based on real-time data analytics.

Phase Change President Steve Brothers recently penned an article for TechBullion.com titled, "Banking automation: How banks should leverage the power of automation," in which he examines how these critical mainframes systems also present modernization challenges.

Mainframe systems are complicated and require meticulous processes to continue providing core operational value. While they are fully capable of running newer applications and systems to create new products and revenue streams, their ongoing support and modernization are challenging.

Brothers believes automation and artificial intelligence (AI) could greatly assist banking firms in maintaining and enhancing their mainframes because the key to sustaining these systems is precisely identifying the functionality created by the source code that is intertwined throughout the system — and changing that behavior without unintended consequences. Using a new AI approach that's designed to sift through large quantities of code in the same way humans do, AI-powered tools can aid developers in their frequent search through the deluge of code to rapidly identify where they need to make a change.

Read the entire article here.

Todd Erickson is a Technology Writer with Phase Change. You can reach him at terickson@phasechange.ai.

February 7, 2022 - Comments Off on AI Powers the Future of Financial Services — Just Not in the Ways You Think

AI Powers the Future of Financial Services — Just Not in the Ways You Think

February 7, 2022

by Todd Erickson

Phase Change President Steve Brothers was recently interviewed for an article in The Fintech Times that considers the role AI could soon play in the financial industry. The article, "Phase Change: AI Powers the Future of Financial Services — Just Not in the Ways You Think," examines how AI will help maintain the software that runs the global financial enterprises, as well as other mainframe-based industries.

AI is already utilized by financial-industry players to automate investments, insurance, trading, banking services, and risk management, primarily on mainframes originally developed in the 1960s. Mainframe computing systems provide high security; high-speed, high-volume transaction processing; and reliable uptime. However, they can be complicated to use and require constant maintenance. Plus, they struggle to evolve quickly enough to support the increasing number of banking services supported by cloud mobility and big data.

New AI technologies can soon be used to automate software maintenance by helping developers better comprehend the source code — and make changes rapidly and precisely. The programmers that developed and maintained these huge and complex systems are in high demand (and are paid like it) or aging out of the workforce, and the financial institutions that rely on them are scrambling to understand the codebases with less experienced developers.

Rather than relying on knowledge transfer protocols to pass along specialized domain and program knowledge, financial institutions can now deploy advanced AI-powered tools to automate the process of identifying specific code that requires attention, regardless of how entangled that code is throughout the system.

Read the entire article here.

Todd Erickson is a Technology Writer with Phase Change. You can reach him at terickson@phasechange.ai.