What is digitalisation?

I am now an adult student. When I was a young student in the 1990s, the word digitalization was not yet known. However, we were studying computer science at the time. However, at that time, the use of computers was becoming more common in companies and households. In computer classes, we considered whether it would be possible to make video calls from the other side of the world in the future. Today we live in a world where these video calls have been possible for a long time and artificial intelligence has also come along. I asked ChatGPT; what does digitalization mean? Artificial intelligence answered that this means the widespread use of digital technology in society, businesses and households. Key features include the use of technology, such as mobile applications and cloud services, and how work and services become more efficient. In addition, manual tasks can be replaced by, for example, robotics. Digitalization has also created online stores. Collecting and analyzing different types of data enables better decision-making. The customer experience improves. Digitalization is visible in many everyday activities, from smartphones to streaming services and electronic services. Digitalization has brought many opportunities, but it also brings challenges.

I currently work in the finance sector. In my work, I handle banking matters for agricultural entrepreneurs, such as financing negotiations and preparing credit applications. The bank operates in a strongly digital environment. Digitalization brings a lot of help to employees, for example through robotics. The operating environment is constantly changing and we have to keep up with this. Digitalization has significantly reduced the use of cash. Services have been moved online. Bills are paid using online banking and mobile applications. Daily purchases are made with card payments. Customer negotiations are conducted online at the bank and documents are already largely signed electronically. Personal face-to-face service has decreased significantly. Digital services are very popular with young people, but the older generation still misses traditional banking services. Digitalization has brought many opportunities to the financial sector. Customer needs must be met and managed in a customer-oriented manner. Digitality and good banking service can be combined to create a good service experience. Digitalization, which will develop in the future, for example due to the development of artificial intelligence, will enable the automation of routine tasks. This will free up time in the future for more personalized service through the channel that is most convenient for the customer.

The risks of digitalisation

Digital security plays a central role in society. We have heard a lot about cyber harassment. Cyber ​​and information security is particularly important for the functioning of key services in our society. The Digital and population Information Authority has produced a guide to digital security risk management. According to the law, organizations are required to determine what risks are faced by data processing and how to size information security measures based on the risk assessment. There are five areas that must be considered in digital security.

  • Risk management
  • Security management
  • Continuity management and preparedness
  • Information security
  • Data protection

The General Data Protection Regulation (GDPR) provides guidelines for the collection, storage and management of personal data, which businesses and organizations must adhere to. In my work, data protection and information security are of crucial importance. Knowledge in these areas is regularly maintained, and training sessions are both frequent and mandatory.

The General Data Protection Regulation (GDPR) sets out the requirements for companies and organisations to collect, store and manage personal data. In my own work, issues related to data protection and data security play an important role. Competence in these matters is maintained and training is regular and mandatory.

Information security

It should be noted that information security and data protection are different things. For example, information security means that you only log into computers with your own user IDs, which are naturally not given to others. Information comes in many forms, including electronic, spoken, and written forms on paper. Information in electronic form and its security is cybersecurity. The aim is to prevent and protect this information from being disclosed to outsiders. Everyone in the organization has a responsibility to follow information security guidelines. Remote work has increased significantly in recent years. Information security must also be taken care of at home. For example, the computer must not be left open and cannot be lent to other family members. In the financial sector, accuracy and care are also required when moving information. For example, documents sent from the bank to the customer are always delivered via secure connections.

Data protection

Privacy protection, or data protection, is the processing of personal data. Personal data is all information from which a person can be identified. In addition, there is special personal data, for example, religious beliefs, political opinions or information concerning health. In banking, personal data must be processed in everyday customer work. Personal data must be processed legally, appropriately and transparently from the data subject’s perspective. In a bank, customer identification is also of paramount importance and this must be documented.

Reflection

Information security and data protection are things that must always be kept in mind. We live in such a strongly digital world, which brings with it many challenges. It is good when there is a lot of information available, but it must also be viewed critically. There is also a lot of bad and false information in the world of the Internet. I am especially worried about children and young people, how they can be guided in the right direction. In addition, the elderly can get into trouble when there are shortcomings in digital skills. The war in Ukraine has also increased various types of harassment that we have encountered. Information and cyber security must be taken care of. This affects us all. There are also various scams such as phishing, online shopping scams and investment scams that are of concern. In the worst case, you can lose large sums of money to scammers. I personally recommend that everyone use a mobile certificate and use bank codes only for banking transactions.

Testing Chat GPT

At the beginning of my blog, I asked artificial intelligence what digitalization means. Now I asked a new question. How has digitalization affected banking? I got a fairly broad answer. The key impacts of artificial intelligence were online banking, payment developments, automation, legislation, and information security and cybersecurity. I think the answer was quite comprehensive. In the last sentence, artificial intelligence believed that digitalization has enabled flexible, efficient, and customer-friendly service. There are certainly factors that have become more efficient, but digitalization has also brought challenges. If digital services are not working or are congested, then at the very least, customers will miss someone who can traditionally be reached by phone. Yes, we humans are still needed 🙂

Self Assesment

The topic of this blog post was quite thought-provoking. During my own career, digitalization has developed enormously and revolutionized the world. I have had a long career in the banking world, over 30 years. During these years, I have become familiar with how digital development has brought changes to the banking industry. Through the assignment, I went through many aspects of digitalization. I am familiar with issues related to data protection and security, but it is always good to review these. Testing artificial intelligence in particular was new to me. I have used it very little. Artificial intelligence brings many opportunities, but also negative aspects. Can artificial intelligence “take over” in the future?

I commented on Juha Hiltunen’s blog, https://blogi.savonia.fi/juhahiltunen/

and Inga’s blog, https://blogi.savonia.fi/ingachirvanen/