According to a recent report an API can be defined as:
“An interface to a software component that can be invoked at a distance over a communications  network using standards based technologies.”

The API Economy represents a new—but already proven—way  of doing business: flexible, powerful, on demand integration with  almost any external system.
Today’s technology trends of mobile expansion, social  elements in most processes and the accelerating shift  to the cloud are all software-driven at their core and are  radically changing industries. The effects are broad and deep:

    Internal processes are starting to be automated, the first  step to becoming  optimized.
        Processes that used to be slow are now taking place in  real or near real time.
       An increasingly large amount of data is becoming  available for making business decisions, and data  quality is improving steadily.
       The workforce is now fully mobility-enabled.
       Ancillary IT functions are gaining new efficiencies.

Software is creating a new business reality—the increasing  automation of processes, transactions and distribution across  every industry and organization. 

This shift has to do not only  with the use of software in particular processes, but also with exposing software interfaces to others—internal developers,  partners, customers and the world at large. 

The result is a  transformation for individual businesses that makes them  radically more flexible and better able to engage with others.

Further, at a global level, this trend heralds a new global business reality—the API Economy.

The one-two-three punch of cloud, mobile and social computing  has accelerated the need to put flexible software at the core
of what organizations do, and this requires APIs (Application  Programming Interfaces) to universally access an organization’s core systems and resources.
By exposing data, business  processes and other services and resources through APIs, organizations are creating compelling new business platforms. 

Organizations must explore this fundamental shift from yesterday’s siloed way of doing business to today’s radically different world. 

       How software is impacting business.
       How APIs underpin much of this change.
       How organizations can take advantage of the API Economy  and meet many of the concrete challenges they face today.

The key benefits of the API Economy could be structured into the following trends:

- mobile enablement;   
- ecosystem growth; 
- expanding reach; 
- powering new business  models and 
- catalyzing internal innovation.



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