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Hottest Trends in DevOps for 2024 and Beyond

January 25, 2024

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DevOps Trends for 2024 and Beyond

DevOps has played a crucial role in shaping digital finance. Learn how it will continue to propel FinTech towards greater flexibility and agility.

The future lies in a hybrid IT landscape. To keep pace with the evolving digital ecosystem, FIs must embrace loosely coupled modular architectures, enabled by flexible and convergent infrastructures. This requires data management, AI-powered automation, and governance processes to mature.

DevOps enables refining product development processes to reduce time-to-market while improving the quality, security, and reliability of the ecosystem. The technology is expected to exhibit a CAGR of 23.95% between 2023 and 2030, reaching a market size of $56.2 billion by the end of the period. Embracing DevOps maturation is key to staying ahead of the competitive curve. Here are the top 4 trends set to shape DevOps through 2024 and beyond:

#1 Integrating Edge Computing with the Cloud

As customer-centrism and hyper-personalization penetrate deeper into decision-making, operations get closer to data sources. This proximity will facilitate extracting insights much faster, leveraging advanced analytics to propose solutions in real-time. 

Integrating the cloud with edge computing improves the percentage of outcomes achieved through the 4 integration stages – Ad Hoc, Tactical, Integrated, Super-Integrated.

 

Source: Ericsson

Edge computing is an enterprise-level framework that leverages data observability and shifts development closer to data sources. This includes data extracted through wearable, handheld, or fixed user devices that capture user data and data servers that manage and analyze it. This strengthens agility and adaptability in the DevOps-based development environments while significantly elevating cloud performance. Edge computing will also add more intuitiveness and facilitate early identification of potential failures, allowing predictive maintenance.

“While training a machine learning model can be very data-intensive and may require the scale of public cloud infrastructure, inference and prediction can be pushed to edge devices. This means that inference and prediction can be accomplished at the edge, close to where new data is collected.”

– Sean Maday, Google

The FinTech industry can take advantage of this to accelerate response times and product design. Edge computing can be translated into business benefits. Edge-based containerization and Edge-as-a-Service, to augment cloud-based operations, will define DevOps for the financial ecosystem.

#2 Transforming Developer Experiences to Bolster Innovation

Cloud-based platforms form the bedrock of software deployment and robust operations for the flourishing FinTech ecosystem. As Platform Engineering takes center stage, advanced tools such as CI/CD (continued integration/continued delivery), IaC (Infrastructure as Code), and real-time monitoring will become ubiquitous and deeply integrated with cloud-based development. Platform engineering aims to improve developer experiences and efficiency to accelerate innovation and incorporation of customer feedback.

Source: https://www.lyrid.io/post/platform-engineering-paving-golden-paths-to-developer-efficiency

The emergence of Ephemeral Environments will facilitate deeply integrated security within DevOps, enabling continued testing throughout product development. These environments serve as isolated safe spaces to test bug fixes, add-on features, and even version launches. The proliferation in internal developer platforms (IDP) will be a game-changer for developers, giving them a comprehensive model, integrated with industry best practices, to help them adopt standardized development and testing mechanisms. This will enable them to autonomously managing applications.

“We don’t want individuals to think innovation is just for a single group of people,” said Andrew McKibben, international head of Technology and Operations at Bank of America, when BoA became the most innovative bank of the year, in 2023.

“Every person is empowered to innovate (with platform engineering),” he added.

Platform engineering makes way for a cultural shift nurturing innovation at scale while reducing time-to-market and powering DevSecOps. It will increase the efficiency of collaborations among development teams while improving code quality and shortening feedback loop cycles.

#3 Emergence of Ethical Auto-MLOps

Auto MLOps is the convergence of AI-driven automation, data science, machine learning, and operations. The FinTech industry will adopt Auto-MLOps for its capability to identify bottlenecks, diagnose system errors and fix them; monitor and analyze data from diverse sources; integrate feedback and assess outcomes; and integrate with existing cxloud-based platforms.

Source: Arrikto

The emergence of LLMOps (low latency machine learning operations) enables ChatOps, while the integration with AI facilitates MLOps-automation. Intelligent recommendations, real-time report generation from market and user data, and incorporation of collaborative chat platforms with DevOps will foster enhanced management of intricate workflows. These will have a transformational impact on credit scoring, fraud detection, and trading segments, while also enabling more customer-centric and proactive product development.

“The operationalization of responsible AI capabilities powers better decisions, increases revenue, and provides more rewarding customer experiences for businesses worldwide,” says Scott Zold, Chief Analytics Officer at FICO, a company with multiple registered patents for the use of blockchain to advance responsible AI.

As the technology matures, it will play a key role in altering the financial services landscape, assisting both FinTechs and banks to refine operations. Ethics will get deeply embedded in AI automation and ML-driven operations will maintain data security and user privacy, driving responsible innovation. Self-managed environments will ensure consistency in code validation, versioning, and traceability, fostering transparency within development operations. This will enhance reproducibility and reusability, making the systems more scalable and flexible.

#4 Embracing Hyperconverged Infrastructures

While data continues to be King, harnessing infobesity demands unified, scalable (horizontally and vertically), and easy-to-manage infrastructures. Hyperconverged infrastructures (HIs) facilitate the virtualization of storage, computation, networking, and management (automated) of data. The goal of incorporating HIs with DevOps streamlines management, improves system performance and expedites disaster recovery.

Source: https://www.bmc.com/blogs/hyper-converged-infrastructure/

The modern consumer expects 24×7 visibility from financial services providers at low latency and costs, while maintaining the highest levels of security. HIs reduce maintenance costs by optimizing resource utilization and enabling horizontal scaling. This then facilitates consolidation of workload for application development and management, along with data maintenance. FIs can turn HI into a competitive advantage by employing the technique for building virtual desktop infrastructures, integrating ephemeral environments, and making incidence recovery plans more reliable and robust. HI will usher DevOps into an era of simplicity and efficiency in the digital landscape.

Opus Technologies is a leading provider of DevOps and DevSecOps Consultation and Transformation services, as well as solutions to enhance monitoring. The aim is to maximize ROI benefits of the modernization to banks, FinTechs, and credit unions. Get in touch with our experts to learn how staying on-trend with DevOps can drive business growth.

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