A recent study by Accenture has shown that the smarter use of digital skills and technology could boost the global economic output by up to $2 trillion by 2020.
Optimizing the use of digital skills and technologies could generate $2 trillion of additional global economic output by 2020, according to a new study by Accenture (NYSE: ACN). The study also reveals the vast role digital plays in economic activity, with more than one-fifth of the world’s gross domestic product (GDP) attributed to some form of digital skills, capital and goods and services.
The Accenture Strategy report, Digital Disruption: the Growth Multiplier, provides a new and comprehensive measure of the scale of the digital economy in 11 major countries. It estimates the value added to GDP by hardware, software and related technologies and by workers who need these digital assets to do their jobs. It also calculates the value of intermediate digital goods and services used in production.
A little more than one-fifth (22 percent) of world output is linked to this digital economy of skills and capital. The US is the world’s most digital economy, with existing digital investments accounting for 33 percent of its output. Forty-three percent of the U.S. labour force and 26 percent of its accumulated capital are capable of supporting digital related activity. The digital economy in other markets varies from more than 30 percent in the UK and Australia to 13 percent in China.
“Businesses and governments are turning to digital to secure faster growth amid an uncertain global economic outlook, but the size of the digital economy is no guarantee of growth,” said Mark Knickrehm, group chief executive, Accenture Strategy. “Organizations need to act aggressively in shifting the focus of their digital talent and technology from making efficiencies to creating entirely new business models. That requires not just greater digital investments, but broader organizational and cultural transformation in order to yield the greatest returns.”
The report states that in order to generate higher rates of growth, companies will need to improve their Accenture Strategy Digital Density score, which tracks the extent to which digital penetrates a country’s businesses and economy. This includes digital skills and technology, as well as broader enabling factors such as the ease of access to finance and the openness of a country’s regulatory environment.
For example, a 10 point increase in the overall digital density of the U.S. economy would result in a $368 billion uplift to 2020 GDP, 1.8 percent higher than current forecasts. But Accenture Strategy calculates that an optimal combination of improvements to digital skills, capital and other accelerators could lift U.S. GDP by an even greater $421 billion by 2020, representing a 2.1 percent boost. The countries with the greatest opportunity for improving their overall digital performance are Brazil (6.6 percent), Italy, (4.2 percent), China (3.7 percent) and Japan (3.3 percent).
The study shows how each national economy could best prioritize its extra efforts to achieve the greatest boost to revenues and economic output. For example, 70 percent of Brazil’s extra digital efforts should be focused on the improved application of technology, such as cloud and analytics, whereas greater efforts in digital skills would generate less of an economic return. In the US, however, just 10 percent of extra digital efforts need to be injected into technology, while a greater return will be gained from boosting digital skills and broader enabling factors.
Platform based models are the key to growth
According to the report, platform business models represent one of the greatest opportunities for digitally driven growth. These models allow organizations to create new markets and uncover value by bringing partners and customers together across a common digital platform. In many cases, platform players can enjoy strong growth without having to own or manage assets, helping them expand with low marginal costs.
While ‘born digital companies’ dominate the platform economy today, the Accenture Strategy report suggests that traditional industry incumbents could be among the greatest beneficiaries of platform strategies by combining their customer reach and product portfolios with the networking power of the platform.
“The high growth rates experienced by many digital companies can now be enjoyed by traditional industry incumbents if they apply platform models to create an ecosystem of partners and customers in which they can offer new value added services,” said Bruno Berthon, managing director, Accenture Strategy. “Companies need to shape their platform strategies and define their role as platform leaders or participants before aggressively forming partnerships that can deliver new value.”
The report recommends three broad actions that can improve the application of digital business models to drive higher levels of productivity and growth:
· Prioritize digital investments based on value opportunities: Assess carefully the balance of digital investments so that an optimal combination of improvements to skills and technology can maximize returns on digital investments
· Compete using an industry-specific digital strategy: Be clear on which platform, what roles, and which data are fundamental to compete successfully in your industry.
· Create the right environment for digital transformation: Improve your “digital IQ,” teaming with government to open up cross-industry relationships and change the rules of competition.
Huawei goes ultra-premium
Porsche Design and Huawei have launched the Porsche Design Huawei Mate RS in South Africa exclusive to MTN and retailing for R 26 459.
The Porsche Design Huawei Mate RS boasts features like the world’s first dual fingerprint design, including an in-screen fingerprint sensor, the world’s first Artificial Intelligence (AI) processor and Leica triple camera with 40MP image capture.
“After the overwhelming success of the Porsche Design Huawei Mate 10 Pro in South Africa, we now bring you our latest offering, a perfect blend of innovation in a smartphone and luxury design,” said Likun Zhao, Vice President of Huawei Consumer Business Group Southern Africa. “From three-point security feature including facial recognition, rear fingerprint scanner and the new innovative in-screen fingerprint to the Leica triple camera system. it culminates in an unprecedented experience for our customers.”
The device incorporates Porsche Design’s signature design language and Huawei’s breakthrough technology. The phone has a 6” 2K curved OLED screen and symmetrical look, minimalist feel and 8-edged 3D curved glass body.
High performance is symbolised by the naming of the smartphone: the term “RS” in the world of Porsche motorsport stands for outstanding racing performance.
Huawei provided the following information on The Porsche Design Huawei Mate RS benefits and features :
· The world’s first dual fingerprint scanner for enhanced convenience, allowing users to wake and unlock the device simply, thanks to an in-screen fingerprint sensor. Hover to wake the device, touch to unlock it
· The winning combination of Leica triple camera with 40MP RGB sensor technology and exceptional photography powered by Master AI. This combination puts effortless, eye-catching photography at the fingertips of those looking to immortalise their favourite moments. Combined with 5 x hybrid zoom, and the world’s first AI image stabilisation on a smartphone camera ensures photography lovers can capture the best shots with exceptional clarity in almost any situation
· The Porsche Design Huawei Mate RS is the first Huawei handset to allow quick wireless charging, making it even easier to keep the phone topped up and ready to go and, thanks to its long lasting battery, users will easily be powered through the busiest of days
· An ‘intelligent’ smartphone, the powerful AI processor automatically tailors the performance of the phone according to how it is used – constantly learning, understanding and anticipating needs, it is the perfect personal assistant for the pocket
· 256GB of internal storage means those constantly on the go and constantly on their phone can be worry free
· Dual SLS (super linear system) speakers with DOLBY ATMOS enable users to have a superior experience, with the best immersive surround sound and entertainment on the go
· Splash, water and dust resistant, which means there is no need to worry about damaging the device in the rain or accidentally dropping it in water
Jan Becker, CEO Porsche Design Group, said: “Both Porsche Design and Huawei seek to imagine and develop products that stand for precision and perfection, intelligent functionality and highly sophisticated design. Our aim was to create an outstanding device that goes one step further. We believe we have reached this goal by taking our partnership to the next level.”
Porsche Design and Huawei have worked in tandem to develop a smartphone that fuses together the two brands’ DNA, wealth of experience in design and technology, industry-leading expertise and exceptional performance. Through the use of colour in the device’s body, software themes and accessories, the new handset is accentuated with Porsche Design’s distinguished aesthetic and purist, minimalist feel.
The Porsche Design Huawei Mate RS will be available to purchase exclusively from MTN at R 26 459.
Cross-channel chat launched
Clickatell has launched a cross-channel live chat service, Touch Go, that transforms omni-channel customer care.
It enables live chat across a company’s website as well as social platforms (Twitter and Facebook) and mobile apps, bringing customer care and engagement into a single business platform.
“Today’s consumers expect to engage with your brand on the digital channel of their choosing,” says Deon van Heerden, Clickatell Engage CEO and Group CFO. “They want to message your business and instantly have queries resolved, find the information and services they are looking for, without the need for a voice call. Clickatell’s Touch Go makes that happen with the right level of capabilities for businesses of all sizes.”
Businesses can start using Touch Go immediately, with a free Starter option. Touch Go requires no credit card for sign-up and is fully featured with a simple setup process. It offers customisable branding, a unified chat desk business application as well as reports and analytics.
As the business scales up its digital customer care, it can opt-in for the Touch Enterprise offering. Touch Enterprise is designed for scaling up customer care efforts through advanced capabilities including AI driven virtual agents, sentiment analysis, automated workflows, enterprise integrations and in-channel mini-applications.
“Customer care has become a defining factor for sustained business success ” says Nirmal Nair, Clickatell Engage EVP Product & Marketing. “In an ever-increasing mobile native world, customers often choose to interact digitally, but they also expect to be able to reach a human immediately, should they need. Monitoring multiple channels and providing immediate action becomes challenging with siloed deployments. Touch’s unified solution allows businesses of all sizes to provide the customer delight in a simple modular approach.”