Digital is the new imperative and organisations who haven’t already made the shift have no time to lose, writes NTOMBI MHANGWANI, Africa Director for Integrated Marketing & Communications at Accenture.
We are in the midst of a major technology revolution. Digital now dominates every sector of the economy – it is reshaping industries, disrupting businesses and introducing new operating models. It is also opening up new opportunities to create jobs and boost economic growth. Businesses that are not ready for this revolution will struggle in the next seven years and beyond.
In January 2012, Eastman Kodak Co. filed for Chapter 11 bankruptcy. It marked the end of an era for one of the world’s greatest innovators, a company that played an important part in the lives of millions of people for more than 130 years through the famous “Kodak moment”. The change came swiftly. In a span of just seven years from 2005 to 2012 the company lost half its revenue as new digital technology wiped out its lucrative film business.
Kodak’s experience is not all that uncommon. Many businesses today are reluctant to take bold steps in the face of innovation, new trends or challenges. Soon, these businesses will be vulnerable to more forward-thinking and innovative competitors.
Digital is the new imperative and organisations who haven’t already made the shift have no time to lose. They must take hold of the opportunity to innovate today to ensure that they survive tomorrow. Those who “Seize the Now” and embrace innovation are most likely to ride the wave of digital disruption. They may even have the opportunity to lead in their industries.
Tomorrow’s winners are those businesses that constantly look for new ways to fuel growth, that welcome the agility that cloud technologies bring, that embrace intelligent-enterprise capabilities, and strive to understand and deliver on customer expectations.
Fuel for growth. Digital is driving convergence across a number of industries, enabling new competitors to enter, and forcing companies to redefine how they compete. At the same time, there is added pressure from active investors in various industries who have a higher expectation for profitability. Speed is the new normal and companies are determined to survive this perpetual state of uncertainty by becoming lean and agile enough to focus on aggressive, sustainable growth. The task may be great and the stakes high, but the path forward is clear: to grow, companies must proactively identify activities that drive value, take out costs that are not contributing to business goals and reinvest those savings into growth.
Journey to cloud. Cloud is not the future. It’s already here, and more businesses are finding that the sooner they adopt cloud technology, the better positioned they will be to compete in an increasingly brisk, aggressive marketplace. Companies that want to achieve the type of agility they need to succeed in today’s business climate, migrate to cloud while embracing a robust ecosystem of cloud solutions. And they’re teaming with Accenture to make the journey a safe, affordable and profitable one.
Intelligent enterprise. The next level of operational excellence will emerge from the latest gains in software intelligence. Business and technology leaders must now view software intelligence not as a pilot or a once-off project, but as an across-the-board functionality – one that will drive new levels of evolution and discovery, propelling innovation throughout the enterprise. Artificial Intelligence (AI) is one of the many great examples.
Intelligent customer management life cycle. New research commissioned by Accenture Interactive in partnership with Forrester Consulting finds that most brands are falling short and customer expectations are outpacing experiences. Only seven percent of brands are exceeding customer expectations and, even worse, 25 percent don’t meet customer expectations at all. Customers’ expectations are forged by their experiences of leading brands across industries. They are brand and quality conscious‚ they seek out the latest trends but watch their budget‚ and look out for personalised as well as unique shopping experience. However, many companies are still failing to deliver on these expectations.
Businesses who are not ready for innovation – driven by digital disruption – will lose customers who are prepared for this modernisation; and companies that meet their needs first will gain a competitive advantage difficult for rivals to overcome.
A business that recognises the power of now, does not hesitate to innovate, take new technology on board and stay ahead of the competition. It is always primed and ready to leap ahead, leaving opponents in its wake.
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”