Presently, every government agency has to take a hard look at their data capabilities and decide whether their current infrastructure supports their workflow. For many, it doesn’t. Most data systems are developed with a strict set of parameters in mind before implementation, which can limit flexibility and long-term use. Particularly during a crisis, flexible “living systems” offer tremendous advantages as they’re able to change capacity rapidly. Building living data systems with the cloud in mind allows organizations to respond to a changing world with confidence.

Last summer, the Government Business Council conducted a survey of government employees to understand the impacts of data efficiency on government operations. The report Built to Last: A Survey on Organizational Data Efficiency in Times of Crisis offers key insights into organizational efficacy and whether organizations can adapt to a crisis at speed. It also highlights differences between traditional data systems and living data systems. 

Data needs to be readily available

When the pandemic first hit, many agencies needed to create or transition their systems to allow employees to work remotely. This change tested the limits of existing data systems. Even after finding a cloud service provider, agencies encountered the challenges of migrating their data to the cloud. 

Government organizations had decades of data stored in paper records. Most have been working to transfer these records to a digital format, but the process has been slow. They are also faced with collecting sizable amounts of data in real time from their ongoing services,  which involves interfacing with the public, external vendors, or third-party institutions. 

Building the cloud into a flexible data system can solve both issues. Old records can be digitized and given an easy-to-access home for those who need them. Incoming data, both internal and external, can be made accessible as well. Migrating data to the cloud also doubles as a way to create backups of raw data, adding an extra layer of security. Most importantly, building in the cloud unlocked the capacity to scale when demand rises. 

Data should be updated in real-time

One of the key takeaways from the Government Business Council report is the fact that agencies are better able to adapt at speed when data efficiencies are higher. 74% of organizations with pandemic related functions reported a moderate to severe impact to their jobs at the onset of the pandemic. Of those organizations, the ones reporting their data efficiency as “very good” have largely already recovered. That adaptability directly affects an agency’s ability to make informed decisions during a time of a crisis.

Having a real-time data solution in place lets agencies make near real-time decisions. A great example of this from early in the pandemic is vaccine distribution. Google Cloud supported multiple states, such as the State of Wyoming, in distributing vaccines efficiently while handling challenges such as reaching rural populations. Data systems that gathered real-time patient data made a difference in the number of vaccines distributed. Knowing population data and patient risk factors enabled quick and effective decision-making.

A global pandemic is far from the only crisis that needs effective data analytics. Natural disasters, food deserts, public health issues, and more can all be handled more efficiently by having real-time data at hand. Effective data analytics systems are the digital equal of “having your ear to the ground” in each community. They provide valuable insights into what people  need.

Data needs to be accessible and easy to use

Making data easy to work with and understand sets phenomenal data systems apart from functional ones. Having data in the cloud is a great first step, but agencies need to be able to easily access and quickly use the data to accomplish their goals. This is where traditional data systems fail most often. Traditional IT systems and data strategies are designed for a specific purpose, usually identified before development and implementation begin. That means that when the data living in those systems needs to be used differently, adapting to new requirements can be difficult. 

Data can often feel “locked” in traditional systems; the data is there, but there’s no way to get to it or work with it in a way that meets the needs of a crisis. Flexible data systems address this by allowing for greater accessibility. Google Cloud, for example, has customizable tools, such as Contact Center AI and Document AI, which let agencies work with data in ever-changing ways. This also produces greater data transparency since data sets can be worked with and accessed more easily.

Governments need to respond to the changing needs of their constituents in emergencies. While traditional data systems can handle slowly shifting demands on the system, they do not serve agencies well in a crisis. When urgency, accuracy, and accessibility all matter, flexible systems rise to the challenge. The pandemic has pushed agencies to adapt in real time, and many have realized they need a system that adapts with them.

Google Cloud has a suite of tools to create integrated data ecosystems. These ecosystems can scale with increasing demand, meet dynamic development needs, and adapt to a changing landscape. Data-first decision-making is a core tenet of “living data systems.” Google Cloud data systems have handled everything from administering vaccines to detecting fraud. In each of these applications, a core tenet of data-first decision making was implemented at scale. 

For more insights on how flexible data systems help the public sector, download the full report “Built to Last: A Survey on Organizational Data Efficiency in Times of Crisis.”

Access to the cloud has advanced the distribution and consumption of financial information on a global scale. In parallel, the global financial data landscape has been transformed by an influx of alternative data sources, including social media, meteorological data, satellite imagery, and other data. Exchanges and market data providers now find they need to include these new datasets to enrich their products and compete, which has meant they now must consider cloud-based models to keep up with the demands of their customers who expect easy, quick, flexible and cost-efficient ways to consume market data.

To address these needs, today we’re announcing the general availability of Datashare for financial services, a new Google Cloud solution that brings together the entire capital markets ecosystem—data publishers, and data consumers—to exchange market data securely and easily.

Datashare helps organize third-party financial information, making it accessible and useful to market data publishers and data consumers. We open-sourced the entire Datashare solution so market data publishers can now onboard their licensed datasets to Google Cloud securely, quickly and easily, while data consumers can consume that data as a service in tools of their preference, such as BigQuery.

Three ways to distribute and consume your data

Batch data delivery

Datashare provides a batch data delivery mechanism for data publishers to deliver their reference data, historical tick data, alternative market data sources and more via BigQuery, reducing the administrative burden on data consumers to extract insights from data. 

Real-time data streaming delivery

By using this event-based data delivery channel for rapidly changing instrument prices, tick data, orders, news and others via Pub/Sub, data consumers can reliably process individual messages or rewind to a point in time to replay a prior market scenario and test model changes.

Monetizing licensed datasets

Market data publishers can onboard their licensed datasets to Google Cloud and make them available via a one-stop-shop on Google Cloud Marketplace, enabling a new sales channel to expand market reach.

Reference architecture

Check out the diagram below to see how you can share your batch and real-time data directly to your Google Cloud customers with BigQuery and Pub/Sub.

As you can see in the above reference architecture, both publishers and consumers can derive several benefits from the solution:

Benefits for data publishers

• You no longer have to maintain your own delivery and licensing infrastructure.
• You can easily package and deliver granular data products and experiments with SQL.
• You can have a solution that scales with your business as data volumes and number of customers grow.

Benefits for data consumers

• Your data is ready for analysis and machine learning (ML)— you no longer have to maintain extract, transform, and load (ETL) pipelines to load files and transform data.
• You can avoid the expense and burden of maintaining multiple copies of large data files.
• You can be more targeted with consumption of data using BigQuery queries, improving performance, and compliance, and reducing cost.

Accessing the datasets

Google Cloud has been working with multiple industry firms on innovating in the market data space. By using Datashare for publishing, data publishers can make their entire datasets available on Google Cloud. Early adopters of Datashare include firms such as OneTick and Accern. OneTick’s datasets include reference and historical futures data (that can be accessed in our console with your login). Accern’s datasets include alternative data such as market sentiment and credit analysis data (that can be accessed in our console with your login).

To make it more helpful, we partnered with Accern to create a hypothetical scenario to describe the data acquisition and analytics process step-by-step.

Accern use case 

As a sustainability analyst, you require an economic, social and governance (ESG) dataset to determine which sector is the most widely covered ESG sector by analysts, and to also identify the sector with the lowest ESG sentiment score. Now, you can discover and acquire an ESG dataset in Google Cloud.

Step 1. Navigate to the Financial Services solutions page in the Google Cloud console:

Step 2. Click a dataset, for example Accern AI-Generated ESG Insights, then review the overview details, plans and pricing, documentation and support information. To view the available pricing tiers, click ‘View All Plans’. Once you’ve decided on a tier that you would like to subscribe to, click ‘Select’, choose a billing account and review and accept the terms of service to complete the subscription. Once the steps are complete, click ‘Subscribe’ at the bottom. An overlay window will appear, click ‘Register with Accern’ to activate and complete the subscription.

Step 3. Once activation is complete, you’ll be directed to the Datashare ‘My Products’ screen. Voila! You are now subscribed to Accern’s ESG Scores dataset and can access it in your Google Cloud instance using BigQuery. To access the data, click the hour glass icon on the corresponding ‘My Products’ record that you just purchased. An overlay will present you with the details on the dataset and/or table. Click the ‘Navigate to Table’ button to navigate through to the BigQuery console.

Step 4. Now that you have access and are in the BigQuery console, it’s time to generate data insights.

^{For this example, we’ve eliminated the company identifying information that is included as part of the subscription and aggregated company ESG in a view where each row represents a day, an industry sector, a specific identified ‘ESG Issues’ (event_group and event) and the respective ‘ESG Sentiment’ per issue.}

For example, row 1 indicates that within the ‘Healthcare’ sector, there was a ‘Social – Civil Society’ issue identified and it had a negative ESG sentiment score of -15.35.

Step 5. Generate a report by exporting it to Data Studio to build visualizations and conduct additional analysis on the ESG data.

Select ‘Export’ and ‘Explore with Data Studio’.

Step 6. Build a simple/basic report.

Now that the ESG data appears in Data Studio, you can start by building a simple chart to help you understand which industry sectors have the highest volume of discussions around ESG and the overall ESG Sentiment per industry sector.

To build the chart:

• Select the chart type ‘Table’.

• Include Entity_Sector as your dimension to aggregate results by ‘Industry Sector.’
• Include Signal_ID as a measure to count the number of ESG passages identified per ‘Industry Sector.’
• Include AVG(Event_Sentiment) as a measure to display the overall ESG Sentiment per ‘Industry Sector’ across ESG Issues.

You can see sectors that are  most discussed when it comes to ESG related topics and their corresponding ‘ESG Sentiment’ scores.

Step 7. Build your final report in Data Studio.

As a next step you can further drill into the data to understand ESG data specific to each ‘Industry Sector’ and identify positive and negative ESG practices. 

Accern has built a more complex sample dashboard and made it available publicly here. You can interact with this report and play around with the data. The dashboard can help to identify material ESG insights for each sector to inform your investment and risk processes. If you have additional questions, you can reach out to Accern directly.

Discovering, accessing and analyzing licensed datasets is quick and easy. Stay tuned for more updates on new licensed datasets.

Publishing your data via Datashare

If you are a publisher of market data, alternative, or exotic data, you can use Datashare to get it published on Google Cloud Marketplace.

Start by joining the Partner Advantage program by registering for the Partner Advantage Portal and applying for the Partner Advantage Build Model engagement. Visit our getting started guide for information to get started on publishing licensed datasets in the Marketplace. Stay tuned for a future blog post about using Datashare to publish datasets in the Marketplace.

More solutions for capital markets

Check out other Google Cloud solutions for capital markets.

With the rise of digital assistants and conversational interfaces, people have grown accustomed to hearing and speaking to synthetic voices. But what do those voices sound like? Often, pretty repetitive. We’re all familiar with the Google Assistant voice, for example.

That’s why we are excited to announce the general availability of Custom Voice in our Cloud Text-to-Speech (TTS) API, a new feature that lets you train custom voice models with your own audio recordings to create unique experiences.

For businesses looking to build a strong brand identity, establishing a unique voice can help turn mobile app interactions or customer service based on interactive voice responses (IVR) into differentiated customer experiences. Our TTS API has included a speech synthesis service with a static list of voices for some time, but now, with Custom Voice, moving beyond these predefined options is easier than ever.

Custom Voice lets you simply submit your audio recordings to get access to the new voice directly in the TTS API. Custom Voice TTS includes guidance on the audio requirements to help make sure you generate a high quality custom TTS voice model. Once this new model is trained, all you have to do to start using the newly trained voice is reference the model ID in your calls to the Cloud TTS API.

At Google, we are committed to building safe and accountable AI products, not only because it’s the right thing to do, but because it is a critical step in ensuring successful use in production. As part of Google Cloud’s Responsible AI governance process, we conducted a deep ethical evaluation of Custom Voice TTS, and its relation to synthetic media, in order to surface and mitigate potential harms that it may create. If you are interested in Custom Voice TTS, there is a review process to help ensure each use case is aligned with our AI Principles and adequate voice actor consent is given.

Additionally, to verify that voice actors are actually the ones producing the audio, you will need to submit an audio file producing a sentence that Google Cloud chooses (for example: “I agree that my voice will be used to create a synthetic custom Text-to-Speech voice).

We’re looking forward to seeing this API help businesses solve problems in an easy, fast, and scalable way. TTS Custom Voice is now GA in these languages:

English (US)

English (AU)

English (UK)

Spanish (US)

Spanish (Spain)

French (France)

French (Canada)

Italian (Italy)

German (Germany)

Portugues (Brazil)

Japanese (Japan)

We plan to continue expanding this lineup in order to meet your needs. Ready to try for yourself? Contact your seller to get started on your use case evaluation today!

For many enterprises, the venerable mainframe is home to decades’ worth of data about the company’s customers, processes and operations. And it goes without saying that the business would like access to that mainframe data — to report on it, to analyze it with big data analysis tools, or to use it as the basis of new machine learning and artificial intelligence initiatives.

At Google Cloud, we are eager to work with organizations to help them transform their mainframe assets for the cloud era. Of course, we can help them modernize their mainframe applications by migrating them to the cloud. At the same time, working with partners and customers, we’ve developed another, more lightweight approach that can help them start to leverage the cloud for their mainframe assets much more quickly than performing a full-fledged migration. We call this approach data-first digitization.   

In this rapidly evolving digital ecosystem, it’s imperative to understand the difference between ‘modernization’ and ‘digitization.’ With modernization you start with the current state and look forward, and rely on mainframe application migration approaches such as rehosting (emulation), refactoring (automated code transformation), reengineering — or simply replacing a custom application with a commercial package. With digitization, you start with the future state that you want to achieve, and work back to what is required to get there.

This data-first digitization approach includes a mainframe data-first integration framework comprising in-house and partner products and tools to migrate heterogeneous data sources from the mainframe to Google Cloud Storage. Once mainframe data has been copied to Cloud Storage, it can then be integrated and leveraged by Google Cloud tools such as BigQuery, AI and machine learning prodcuts  and Smart and Stream analytics platforms. The integration framework covers both bulk batch data transfers and real-time data replication (change data capture).

Data-first digitization is based on the tenet that ‘applications are transient, data is permanent.’ By bringing data first to Google Cloud instead of traditional ways of modernizing applications (for example, with Gartner’s 7 options to Modernize), this allows organizations to leapfrog to new business models, use cases and innovative ways to serve end customers. For example:

• Making decisions with smart and stream analytics platforms and AI/ML engines. These tools need data to make decisions. Google is a pioneer in extracting information and value from the raw structured and unstructured data, and this approach opens up mainframe data for use by BigQuery and AI/ML models. 
• Building new reporting applications. With access to mainframe data, you can use Google cloud products like Looker and Appsheet to build net-new reporting applications, expediting the process of retiring mainframe reporting applications, and accelerating your overall transformation.

In our experience, taking a data-first digitization approach to your mainframe offers a number of benefits:

1. Faster time-to-business: Because data-first modernization is built on existing products, the implementation cycle is much shorter.
2. Less capital investment: You spend your time integrating products, not developing applications.
3. Minimized risk: Data-first integrates with existing, proven and reliable Google Cloud products.
4. Faster overall mainframe transformation: When you shift your modernization center of gravity from the application to the data, you look at mainframe applications from a business perspective instead of just “keeping the lights on.” As a result, only the most business-critical applications are modernized and many support applications can be decommissioned, accelerating your transformation journey. 

Taking a data-first approach to digitization is still relatively new, but we’re heartened by customers’ early successes. Watch this space for additional insights, reference architectures and technical white papers around data-first. And if you think this approach may be right for you, reach out to mainframe@google.com.

Learn more:

• Liberating your mainframe data with Confluent and Google Cloud
• Beyond mainframe modernization: The art of possibilities

The future of AI is better AI—designed with ethics and responsibility built in from the start. This means putting the brakes on AI-driven transformation until you have a well-functioning strategy and process in place to ensure your models deliver fair outcomes. Failing to recognize this imperative is a threat to your bottom line. The following post provides a simple framework to follow to keep your business on the right track as you place more trust in algorithms. 

AI is inherently sociotechnical. AI systems represent the interconnectedness of humans and technology. They are designed to be used by and to inform humans within specific contexts, and the speed and scale of AI means that any lack of responsibility—such as bias, safety, privacy, scientific excellence etc—will also replicate at that same speed and scale. Without ethics and responsibility built in by design, AI systems lack the critical “inputs” or societal context that enable long term success. 

Lawsuits stemming from AI systems that are biased towards certain groups are stacking up. In August 2020, IBM was forced to settle a lawsuit with the city of Los Angeles for misappropriating data it collected for its weather channel app. Health services company, Optum, is being investigated by regulators for creating an algorithm that allegedly recommended that doctors and nurses pay more attention to white patients than to sicker black patients. And Facebook, which granted Cambridge Analytica, a political firm, access to the personal data of more than 50 million people, is buried in legal work.  Google has also run into its share of issues with algorithms making egregious mistakes. 

While lawsuits are real, the foundational reason ethical AI is critical to your bottom line is trust. Without it, increasingly, consumers will ignore you and choose a brand they do trust. Research from Kantar, which runs one of the largest global brand equity studies (4 million consumers, 18,000 brands, across 50 markets), revealed that almost 9% of a brand’s equity is driven by corporate reputation, of which responsibility is a key attribute. Over the last decade, the importance of responsibility to consumers in relation to making brand choices has tripled. 

The study stated brands perceived to be among the world’s most trusted and responsible shared three crucial factors that proved particularly important for building consumer trust and confidence, even when a brand might be new to a market. These are:

• Honesty and openness
• Respect and inclusion
• Identifying with and caring for customers

Brands that develop these associations more strongly tend to outperform their competitors in defending and growing their brand value.

Technology and business leaders need to focus on four areas to accomplish a well-functioning ethical AI strategy. Lopez Research refers to this group of tasks as SEED, which stands for security, ethics, explainability, and data (SEED). Each of these topics could be an article in itself, but this post will define several essential components. 

SECURITY (S)  

It might not seem obvious, but a robust AI strategy requires an embedded security strategy. Companies should look for hardware-level security in components such as GPUs and CPUs. IT leaders should build software security into models to minimize attacks such as poisoning, evasion, deepfakes, backdoors, and model extraction. The threat of adversarial data poisoning attacks machine learning models by maliciously introducing inaccurate data designed to corrupt the model’s ability to be accurate. Another security threat is model extraction, also known as model cloning, where a hacker finds a way to either reconstruct a black-box machine learning model or extract the training data. The first line of defense against all security attacks is to design security at the outset, but the next best step is to frequently test models to ensure they are operating as planned. Business leaders, data science experts, and IT leaders must work together to regularly review the outcomes of AI models.

ETHICS (E)

Today, organizations must understand that ethics should be designed into the solution at its outset. The ethics process starts with defining the potential positive and negative outcomes of the model that your business is creating. Once the team has evaluated potential harmful effects, which means unpacking the systems, beliefs, power hierarchies and dynamics that interconnect with the technology, it’s your responsibility to eliminate or minimize the impact of these outcomes. It’s also critically important to review the impact of models in production and shut down models demonstrating issues. An example of this was the public beta release of the Tay chatbot that Microsoft deployed and rapidly shut down because it propagated negative biases. 

Yet, many organizations aren’t taking this action. The FICO study revealed that 93% of companies said responsible AI was critical for success but only 33% of these companies were measuring AI model outputs to ensure these models were operating as expected (measuring for model drift). Another survey by Pew Research revealed that 68% believe that ethical principles focused primarily on the public good will not be employed in most AI systems by 2030. 

Regulations may turn this tide, regardless of whether organizations plan to adopt an ethical AI framework. Laws governing the ethical use of data in AI are expected to be finalized as soon as 2022, such as the European Commission’s proposed legal framework for AI. Organizations that start with ethical use of AI in mind will be better positioned to deal with customer privacy concerns and regulatory compliance.

EXPLAINABILITY(E)

As models have become more sophisticated, it’s also become increasingly difficult to explain why a model created a specific outcome. In the FICO Responsible AI  report, 65% of respondents could not explain how specific AI model decisions or predictions are made, and only 35% said their organization made an effort to use AI in a way that was transparent and accountable.  However, it’s never been more important to clarify how AI models came to conclusions such as why a loan was denied, why a particular strategy should be implemented, and how AI selected a set of resumes to review for a position. The goal is to create an explainable AI model from the outset but many of today’s models lack this capability. Every business should review its existing models and use open-source toolkits that can be found on Github.com that support the interpretability and explainability of machine learning models. 

Keep in mind that explainability isn’t one-size-fits-all. Different stakeholders need different types of information. Much of explainability to date has focused on “opening the black box” which gets equated to information that is only useful for other data scientists. That’s important, but it doesn’t help the line of business users whose workflows AI is integrated into, or end users who deserve information about how decisions are made; or policymakers who don’t have data science backgrounds, and so on. 

DATA (D) 

An equally important item in ethics is data. Ethics starts with ensuring you have the correct data to create and update models. Three main issues include representative data, inherent biases within existing data, and inaccurate data. A critical issue that most companies miss in creating models is that current data sets frequently lack full market representation. A recent Capgemini Research Institute report revealed that 65% of executives “were aware of the issue of discriminatory bias” with these systems.

Awareness is the first step, but organizations must take action to remedy this issue. Historical data may no longer serve a company’s current needs for model creation. Historical records may contain biases against certain groups. For example, historical criminal data records show an imbalance in ethnic groups’ incarceration, which would lead to model biases. Additionally, laws and societal norms also change. Certain groups were prosecuted for sexual preference in the past, but today this information would create an inaccurate model. 

Companies have also discovered that using demographic data, a common practice in marketing, can also lead to model bias. For example, individuals that primarily used cash for transactions and others that lived in specific zip codes were at a disadvantage in banking models to determine creditworthiness. To minimize these issues, a company needs to augment its data with full representation in areas such as ethnicity, gender, age, behavioral and economic profiles.

Design AI models with a continuous feedback loop

Another, more prominent, yet tricky issue is data accuracy. As the adage says, garbage in, equals garbage out. The least appreciated but arguably the most essential component of the AI model lifecycle is ensuring the model has accurate data at all times. Inaccurate data from either poor data hygiene or data that was tampered with for security purposes can cause model failures. Organizations need to invest the time and resources to ensure they have the correct data. Data privacy is another key element that businesses must address, but the concepts of data privacy, sovereignty, and security are significant enough that we will come back to this in a separate article. 

Overall, it’s clear that while we may have an abundance of data, it most likely doesn’t represent what we want to model for the future. A successful AI strategy is an ethical AI strategy that requires the organization to be thoughtful in its model creation by ensuring it has a broad representation of accurate data and testing the outcomes to ensure the models are secure and operating as expected. 

Organizations that define an AI model lifecycle with a continuous feedback loop will reap the benefits of better intelligence. This will increasingly mean stronger, longer lasting trust with customers and staying on the right side of new laws and regulations.