The fourth industrial revolution or the technology revolution has the potential to change just about every part of our lives. NIR TENZER of Microsoft says that embracing this change will present opportunities for business of now and those of the future.
Technology has become ubiquitous and central to growth and innovation in today’s business. It is embedded in a vast array of services and devices, and accessible to businesses to do what was previously impossible.
When we talk about this fourth industrial revolution, just like the first three with steam, electricity and information technology, it had a pretty broad impact in the way we live, the way we work, the way we entertain ourselves, the way we communicate.
And now, when we talk about this fourth industrial revolution with digital technology, we’re talking about it having perhaps even a broader, deeper impact on all those aspects of our lives. The way we engage is changing, the way we work is changing and the way we solve, address problems and innovate is changing – the pace of the change is also getting faster and faster. The world of the future is going to be different to the world we live today – there will be businesses and jobs that we cannot even conceptualise today. The change and the disruption will come from many directions, including Industry disruption and Technology disruption. Cloud, mobility, social and insight coming from data will contribute to this massive wave of disruption.
The tumultuous period of change for us in our businesses and how we navigate that presents much opportunity for the businesses of today and those of tomorrow.
Opportunity in transformation
As we embark into the depths of this fourth industrial revolution, we come to learn that every business is a technology company. Every company has the potential to transform itself into a digital business.
What is a digital business? It’s more than presenting a website or online service to customers, or simply using technology to run your business. According to leading technology analyst firm Gartner, “Digital business is the creation of new business designs by blurring the digital and physical worlds.”
Contextualising this, here are some examples of what companies are doing today to digitise:
· Innovating with crowdsourcing and data—organisations are changing how they deliver new products and services by integrating customer, employee and general ecosystem feedback into their innovation process. In some cases, they are directly incorporating customers into the process. In others, they are collecting detailed data from the products they have in market in order to better understand usage and enable improvements. During the development process of Windows 10 for instance, Microsoft received millions of pieces of feedback from more than seven million fans who joined the insider programme, tested the software, and helped shape the finalised version of the operating system.
· Working smarter with smart machines—increasingly, smart machines such as digital assistants (like Cortana) are empowering employees and consumers be more informed and productive in how they work and live.
· Adapting the business through intelligent operations—enterprises today are connecting their operations and making them more agile and responsive to changing market conditions and customer needs. For example, a vehicle manufacturer can employ machine learning (quick data analysis) to identify and distinguish between model features that buyers actually need and nice-to-have features that they want based on customer demand, within various demographics across the globe. This will enable the car maker to cater to the needs of customers better with the right standard features everyone needs, while providing most of the cool features many people want as options.
· Staying ahead by anticipating what’s next—machine learning and advanced analytics are enabling organisations to anticipate and predict customer needs and market changes better and faster, helping them be more competitive in the market and wow their customers.
· Delighting customers with richer experiences—in order to deliver engaging customer experiences, businesses today are leveraging digital technology like interactive digital displays, second screen strategies, and mobile/local offers to enrich physical experiences with digital ones to help drive customer engagement and loyalty.
In order to successfully navigate the transformational wave, organisations need to form partnerships that will enable them to utilise systems of intelligence that will help them gain insight and take action from big data, optimise their operations and change the very nature of the business models around their industrial products.
Leaving a legacy of innovation, rather than a depending on legacy systems
Common stumbling blocks that prevent companies from effectively supporting business priorities through digital transformation include the burden of legacy systems. Enterprises and large corporations within sectors such as financial services and retail often find themselves being disrupted by smaller, more agile competitors such as SMEs and start-ups that are not burdened by legacy system that is very complex to manage.
As Microsoft, we are similarly impacted and disrupted and are experiencing our own digital transformation. We have adopted interconnected ambitions that represent more than our ambitions – they are our response to this imperative to transform and designed to help our customers deliver transformation within their organisation.
By adopting the mind-set of a digital company, any business can transform through the four pillars of digital transformation. The first of these is empowering your customers through tools like a customer management system and approaches such as driving viral find, try and buy opportunities that help cross-sell and up-sell, and build these capabilities into offerings. Next up, companies have to empower employees through knowledge and insight tools, enabling staff to access data and collaborate from anywhere, anytime, using any device or platform.
The penultimate pillar is optimising your operations, which is achieved by migrating services to the cloud and focussing automation. Last but not least is transforming your products, which is done by creating connected services and generating insights to see what can be monetised to unlock new business models. Previously businesses designed, built, produced and shipped a product, then customers bought it. That was the end of the cycle. Now organisations are building in continuous feedback loops – sensors in product, after-market services, and customer feedback from a variety of channels. Transformation requires these rich systems of intelligence. And it isn’t simply about technology…systems of intelligence represent the combination of technology, people and process that enable these feedback loops, and define an organisation’s competitiveness and ability to change the entire landscape of the industries in which it participates.
Moreover, organisations, will require a cultural change within the company that sees staff being more open to learning, using and integrating new systems, tools and solutions into their daily routines and processes.
* Nir Tenzer, Microsoft South Africa’s Marketing and Operations Director.
Now download a bank account
Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.
This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.
“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.
“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”
The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:
- Download the Absa App
- Choose the account you would like to open
- Tell us who you are
- To keep you safe, we will verify your cell phone number
- Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
- Tell us where you live
- Let us know what you do for a living and your income
- Click Apply.
How we use phones to avoid human contact
A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.
Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances.
Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?
The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.
In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.
Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.
Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”
To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:
· I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?
With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.
· Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?
Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.
· I’ve lost my phone! How will I keep myself entertained now?
Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.