Global consulting giant Accenture has long been known for its position as a “fast follower”. Instead of being an innovator, the company adopted the strategy of aping any innovation at scale. However, this strategy was failing in the digital age as by the time they would catch up the technology would fade away to be replaced by the latest innovation. While changes have been afoot for a while, the latest ones in digital marketing, cloud computing, mobile apps, cybersecurity, artificial intelligence, encryption and business analytics has given a total different dimension with more to come. Blockchain, immersive reality and quantum computing are not yet there, but coming for sure. Even the products that companies have been providing to customers for years are experiencing an evolution. IT in business is no longer a technical advantage but indeed a tactical one. New technologies are penetrating multiple parts of companies while also improving the productivity of workers.

Source:https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/richkarlgaard/2018/07/17/how-giant-accenture-learned-to-run-at-digitals-fast-pace/&refURL=&referrer

Uploaded Date:20 July 2018

Job automation is round the corner, and it can be scary depending on which side one is on. Over the next decade about two-and-a-half million workers could get replaced each year. A study has been anchored by business consulting giant Bain and Company to truly understand this trend. So as per the study, the service sector in particular in the US will experience massive shift towards automation over the 2020s. We have seen earlier generations where agriculture, manufacturing and construction got automated to a large degree. But now services is next, and at a truly transformative scale. Artificial intelligence, robotics and machine learning will sound the death-knell for several known jobs.

Source:http://www.bain.com/publications/articles/quick-and-painful-brace-for-job-automations-next-wave-labor-2030-snap-chart.aspx

Uploaded Date:20 July 2018

Industry 4.0 is ongoing at present which includes concepts such as robotics and big data. A study by BCG affirms that the pace of implementation has been roughly similar in the US and Germany. Manufacturing concerns are also seeking to align themselves on the lines of this industry 4.0. There are some visible conflicts at first glance though, such as a lack of imperative attached to it. Almost all industries especially the cost-sensitive ones like electronics, semiconductors and oil are most keen, yet are slow to respond. Most companies are only targeting cost reduction and improvements in productivity, not revenue growth. While some technologies such as cybersecurity, cloud computing and use of business analytics have already been eased in to the system, fewer have gone for robotics, additive manufacturing or augmented reality. A lot of obstacles have been noticed, but few concrete solutions have emerged. Finding the right talent for example, has been a huge deterrent to any company’s growth. For all the pessimism, there has been some genuine progress such as the improvement in quality by weeding out inconsistent production cycles. Processes have been streamlined, while development costs and lead times have been reduced. Market entry processes have been accelerated and some new services launched using the additional technologies. A cross-functional innovation team needs to be set up from the outset to define the work.

Source:https://www.bcg.com/publications/2016/lean-manufacturing-technology-digital-sprinting-to-value-industry-40.aspx?linkId=53241382&redir=true

Uploaded Date:04 July 2018

Retail has changed enormously over the years thanks to the influence of technology. Augmented Reality (AR) for example is helping customers to try out clothes virtually, while business insightson user preferences are now being gleaned out through the realms of data available using AI. In spite of this, instead of improving, customer experiences are actually going worse. Companies are touting their innovations, but unable to use them meaningfully to enhance customer experience. PwC recently conducted marketing research to understand this transformation. Shockingly, a handsome majority of three-fourths respondents claimed they needed more human touch. About two-thirds of those surveyed feel that positive customer experience can have ripple-off impacts much stronger than advertising can. To bridge this gap, companies must start by creating a community of commerce, inter-dependent. The work culture within the firm must be one that empowers employees. Talent recruitment must be done in a manner so that those in, must be able to gauge insights from the available data.

Source:https://www.strategy-business.com/article/Todays-Retail-Needs-Both-Tech-and-the-Human-Touch?gko=d0e8a

Uploaded Date:04 July 2018