Meet on future of software design

Wealth management technology solutions provider Envestnet India and Nasscom will jointly host a conference on ‘Architecting Intelligence’ for software architects as part of the Nasscom Tech series here on Saturday.

Envestnet Inc is listed on the NYSE and has a development centre here. It provides wealth management technology and services to investment advisors based mainly in the US.

The event will provide software architects with insight into how software design and architecture will evolve, said Anilal Ravi, executive vice-president and senior managing director of engineering at Envestnet India.

It will also help them learn how deep learning algorithms, big data analytics and cloud computing can be leveraged to provide artificial intelligence-as-a-service.

Software-as-a-service is a distribution model in which applications are hosted by a vendor or service provider and made available to customers over a network on demand.

It works out cheaper since they need not purchase the software or applications but pay for their use only.

The Envestnet model enables financial advisors to find client-specific data in a matter of seconds and report them to clients - and do so on-demand from anywhere in the world.

The possibility of infusing intelligence onto systems and the concept of artificial intelligence-as-a-service are going to transform the design and architecture of software, Ravi added.

Bill Crager, president, Envestnet Inc. says that disruptive threats to financial advisors continue to grow as more digital advice platforms incorporate artificial intelligence into their architecture.

Rajiv Vaishnav, Vice-President, Nasscom, said the rapid rise of artificial intelligence in a variety of industries presents many opportunities for IT professionals in India.

Meanwhile, Envestnet is talking to a couple of fund houses in India as part of a proposal to enter the domestic market.

“The local market has not evolved to the desired level but there are signs it soon will,” Anilal Ravi said. “Our solution/platform has generated interest here and we are exploring options.”