Episode 55: (Data Bites) The New Apple Credit Card is an Essential Step Towards Convergence

Following up on Monday’s Episode we talk about what a convergent set of technologies would actually look like using the example of the brand new Apple Credit Card!

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Music for the show: Foolish Game / God Don’t Work On Commission by spinmeister (c) copyright 2014 Licensed under a Creative Commons Attribution (3.0) license. http://dig.ccmixter.org/files/spinmeister/46822 Ft: Snowflake


Welcome to data tour the podcast about data culture at work at home. And on the go. I’m your host, Jordan Bohall. To stay up to date with everything data controller, be sure to like and subscribe down below. Furthermore, be sure to follow us around the internet at data to her pod on Twitter, at data couture podcast on Instagram, and at data couture pod on Facebook. Of course, if you’d like to help keep the show going, then consider becoming a patron at patreon. com forward slash data couture. Now, no under the show,
Welcome to dare to couture. I’m I’m your host Jordan on today’s database, we’re going to reel it back a bit from Monday’s episode where I was kind of stretching out way into the future maybe not that far in the future when it comes to figuring out what the next thing after the convergence of technology is. And I kept calling it a synchronicity and playing synchronicity is the part of it. But what I meant was the singularity. In any case, I want to talk about something that’s much closer to home. Namely, I want to talk about an example of convergence or at least the first steps towards convergent when it comes to finance. And so before we do that, I want to once again announce that we are having a contest to name the new Tuesday and Thursday episodes that will be videos on YouTube. Like I said, I was thinking data couture don’t data and drive for data driving or you know, something done like that. I don’t think it rings very well. So the person who comments THE BEST name will win a set of stickers from the show. So be sure to do that. In any case, let’s get on with it.
Okay, welcome to the show. So to reiterate, Monday’s show, you’re talking about a book from Craig LeClaire called invisible robots in the quiet of the nights. And specifically, I was focused on his fourth chapter that talks about the notion of convergence, which to remind my listeners is that moment when technology or AI, ml, PA, Internet of Things, edge computing, all these sorts of things start to mesh interchangeably from our everyday lives, whether that be work or at home. Now, I wanted to give another example that he didn’t necessarily cover in his short chapter that’s already hitting this, where we live. I, like so many other people, I’m a fan of Apple, I love their ecosystem, I love that all my devices talk to each other, blah, blah, blah, I’m not gonna sit here and fanboy Apple, but what we will be talking about is an Apple product, namely, the new Apple credit card, the apple card, I of course, had to get one. And so I signed up. And unlike most financial institutions, you can use the card right away with your Apple Pay, which is living in the wallet of your iPhone, I’m sorry, Android users. But that’s just the way it is. It’d be like that sometimes. Any case. Also, they send you out a very robust card that if only very slightly sharpened further can definitely pass as a weapon. So big metal card, or it’s not a big metal card, but it’s the credit card size card, that’s metal, and it’s heavy. And it’s gorgeous, right? Now, why I want to use this as an example of convergence has been because frankly, it’s not there yet. What happens, you use it like any other credit card or use it like any other sort of touch lyst pay. One nice feature is that as soon as you pay for something that pops up on your alerts that hey, this mount was charged at this location, you can click on the actual charge, see on a map exactly where it happened. And you can, you know, determine if it’s fraudulent or not. Similarly, you can very easily
change your card numbers, you can do all sorts of cool stuff, you can see your spending habits of bar charts, which I’m not a huge fan of our charts. But nevertheless, it is a handy way to visualize information for your spending for the month, they also make it very easy to pay your bill. And they also encourage you to not incur any sort of interest by paying certain amounts. And it tells you that with a nice little donut chart that you can spend a little toggle and you can pay as much as you need to to not incur any interest on the charges you’ve made. So how will this become an an act of convergence? Or how would this show convergence? Well, just think about the next steps after the sort of revolving line of credit through the credit card that Apple’s offering, with the help of major financial institution. Let’s say they get into loans, other types of loans, so mortgages, or auto loans, or Home Equity, or home equities, or he locks or anything in any of your traditional loan vehicles, they have the same sort of features, the same usability, the same ease at which you can use the product, all these sorts of things, right? Now, all of a sudden, you have your entire at least loan portfolio in your wallet up. And of course, you know, they have Apple cash, which acts more or less like a checking account or savings account. And so now they’re starting to look like they have all of your financial information, you they have everything in one handy app that makes it much more user friendly than some other online tools from almost any other bank or credit union. Right? Great. That’s still not convergence. Why isn’t it convergence, because it’s just like any other banking product, it looks like an Apple product. So it’s pretty user friendly, and all that kind of stuff. But it’s still just a banking product, it’s like the apple credit card is just a credit card, you can get the same information from any credit card maker issuer, as of right now, right. So they didn’t do anything truly novel that way, it just, it has that be on the air of Apple quality Apple design. And so that’s why it’s kind of sexy. Know, for this to be a convergent technology, it’s going to have to pair with lots of things. And so it’s going to have to pair with say, You’re smart speaker, which I’m sure my already pair with the apple home speaker device. But you know, it doesn’t matter which home speaker or smart speaker, it should be able to pair with that or should be able to at least be accessed by those technologies. And then once it is access with those technologies, all of a sudden, you can integrate it with any of your smart home devices, your refrigerator or your stove or what that whatever that might be in your own home. So when this becomes more of a convergent technology, not only will it be your entire financial portfolio, but it also be connected to your smart home devices. And then guess what, you just have to make sure that those smart home devices when they run out of perhaps a pre ordered set of things that you always want to have on hand saying your refrigerator. Well, the fridge notices, hey, you’re low on soy milk, or you’re low on almond milk, which I’m preferring at the moment. And then what happens? Well, because your fridge notices you’re low on that particular item, it sends out a call to some food delivery service, whether that be Amazon’s food delivery, or I guess Walmart’s doing it now i’m sure target will get in the game. Hopefully, Costco and all the other big brands. And guess what it shows up on your charge card. You don’t have to do anything, you just going to learn Oh, that’s cool. My almond milk is going to be delivered tomorrow by Gus or whomever, it probably won’t even be a person right? To be truly convergent. It’ll be a drone, or it’ll be some sort of robot and all that, like you didn’t have to do anything. And all of a sudden Apple’s financial products become convergent with your life, it becomes one of these converging technologies because it lines up with everything else. You don’t have to make any decisions really other than setting that list up of the things that you have to have in your fridge. And all of a sudden it just shows up. How amazing would that be? In any case, let me know if you are afraid of this convergence. Or if like me, you are very excited to not have to think about what’s in your fridge or have to go grocery shopping because I personally dislike that task. So until next time, I will talk to you soon. That’s it for the show. Thank you for listening and if you liked what you’ve heard, then consider leaving a comment or like down below. Stay up to date on everything data couture, be sure to follow us on Twitter at data couture pod consider becoming a patron@patreon.com forward slash data couture
music for the podcast. It’s called foolish game. God don’t work on commissioned by the artist spin Meister us under a Creative Commons Attribution 3.0 license, writing, editing and production of the podcast is
by your host Jordan Bohall.

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