The financial services sector was one of the first to be impacted by digitization, and for many years, banks (and also insurers) have been innovating their offerings to respond to the increasing demands of customers, changing regulations, and heightened competition. But the real disruption — which has changed banks’ business models and the way they interact with consumers — began with the emergence of fintech. Increasingly, small, nimble, technology-savvy companies are unbundling the offerings of traditional banks; consider online lenders that provide loans to customers who, due to strengthened credit criteria, have lost access to conventional bank loans, or remittance companies that allow customers to send money abroad at the fraction of the cost charged by banks. In recent months, the trend has been observed even more strongly in the insurance space with the rise of insurtech, which impacts the whole insurance value chain, from customer onboarding, through risk assessment, to selling the products, and finally to claims processing. Digital transformation has become inevitable, and banks and insurers are looking for the most efficient strategies for the digital age. 

The financial services sector was one of the first to be impacted by digitization, and for many years, banks (and also insurers) have been innovating their offerings to respond to the increasing demands of customers, changing regulations, and heightened competition. But the real disruption — which has changed banks’ business models and the way they interact with consumers — began with the emergence of fintech. Increasingly, small, nimble, technology-savvy companies are unbundling the offerings of traditional banks; consider online lenders that provide loans to customers who, due to strengthened credit criteria, have lost access to conventional bank loans, or remittance companies that allow customers to send money abroad at the fraction of the cost charged by banks. In recent months, the trend has been observed even more strongly in the insurance space with the rise of insurtech, which impacts the whole insurance value chain, from customer onboarding, through risk assessment, to selling the products, and finally to claims processing. Digital transformation has become inevitable, and banks and insurers are looking for the most efficient strategies for the digital age. 

Big data, the Internet of Things (IoT), and the cloud are technological innovations that need to demonstrate corresponding business value. While the aforementioned technologies have distinct identities of their own, they are also interdependent. Innovating with these technologies at a business level demands a multidisciplinary, holistic approach that also incorporates an understanding of how to manage risks. The Big Data Framework for Agile Business (BDFAB) provides a basis for fostering innovation and managing the risks associated with it in the big data, IoT, and cloud space. This article discusses the nature of innovation in the context of big data, IoT, and the cloud and its application in practice.

Big data, the Internet of Things (IoT), and the cloud are technological innovations that need to demonstrate corresponding business value. While the aforementioned technologies have distinct identities of their own, they are also interdependent. Innovating with these technologies at a business level demands a multidisciplinary, holistic approach that also incorporates an understanding of how to manage risks. The Big Data Framework for Agile Business (BDFAB) provides a basis for fostering innovation and managing the risks associated with it in the big data, IoT, and cloud space. This article discusses the nature of innovation in the context of big data, IoT, and the cloud and its application in practice.

The business environment is changing at a faster rate than ever before. One of the drivers of change is clearly technology, which is disrupting business at multiple levels. Within the organization, technology is disrupting business processes and the roles people play. Outside the organization, technology is enabling new business models, leading to new forms of competition. Today’s customers have much more access to technology and devices, and they expect to use those to interact with businesses. They also expect businesses to offer more sophisticated, smarter products and services tailored to their needs and preferences.

The business environment is changing at a faster rate than ever before. One of the drivers of change is clearly technology, which is disrupting business at multiple levels. Within the organization, technology is disrupting business processes and the roles people play. Outside the organization, technology is enabling new business models, leading to new forms of competition. Today’s customers have much more access to technology and devices, and they expect to use those to interact with businesses. They also expect businesses to offer more sophisticated, smarter products and services tailored to their needs and preferences.

In this article, I discuss key drivers for adoption of digital business, propose a framework organizations can use to guide their digital transformation efforts, and consider the value digital transformation is delivering in areas of healthcare, travel, and government. 

In this article, I discuss key drivers for adoption of digital business, propose a framework organizations can use to guide their digital transformation efforts, and consider the value digital transformation is delivering in areas of healthcare, travel, and government. 

This article examines the impact of digital technologies, including virtual reality (VR), on the sharing and archiving of life events and explores the potential business opportunities that are apt to arise from these technologies. It also seeks to illustrate, through exploring the impact of disruptive technologies on the photographic industry, the lessons to be drawn when either tackling the technological challenges in a long-established traditional business or seeking to create a new market opportunity enabled by disruptive technologies.

This article examines the impact of digital technologies, including virtual reality (VR), on the sharing and archiving of life events and explores the potential business opportunities that are apt to arise from these technologies. It also seeks to illustrate, through exploring the impact of disruptive technologies on the photographic industry, the lessons to be drawn when either tackling the technological challenges in a long-established traditional business or seeking to create a new market opportunity enabled by disruptive technologies.

As an executive coach, I continuously hear new clients say, "All I want are results. Is it too much to expect people to deliver on their commitments?" After a few minutes of additional dialogue, we typically discover several organizational, technical, and managerial challenges that have culminated in some noticeable and negative result. In other words, I'm being asked to fix a problem that has escalated to a level that is no longer tolerable to those in leadership.

This is the first in a series of three Advisors on poorly managed and executed government IT systems and their effects on citizens.

Business people judge services by making sense of what they experience relative to their needs. Most business decisions about IT are, and will continue to be, made in this way. This is in contrast to the current IT delivery model and the product-centric process of “define, build, and operate,” which will become less relevant as future technology and increased complexity make defining and testing product requirements difficult, if not impossible, except at runtime.

Business people judge services by making sense of what they experience relative to their needs. Most business decisions about IT are, and will continue to be, made in this way. This is in contrast to the current IT delivery model and the product-centric process of “define, build, and operate,” which will become less relevant as future technology and increased complexity make defining and testing product requirements difficult, if not impossible, except at runtime.

When everything connects to everything and new value systems emerge, a number of things will start to accelerate disruption in society: the speed of change, the growth of data, and the number of innovations. For businesses, traditional models may suddenly be swept away by disruption, but this disruption can also introduce new opportunities. The proliferation of technology and the new value systems that emerge from it are driving changes in business strategies and IT strategies. A new style of IT has come to the forefront, and it is becoming one of the main drivers of change.

The information dysfunction endemic to politics does not stop or start with politics. It is deeply rooted in our human behavior. It is present in every aspect of our lives, starting with our own inner monologues that make up our consciousness, and extends to our families, our friends, our social networks, our organizations, our countries, and yes, to our global village.

In this on-demand webinar, you'll discover how a shift in perspective and reassertion of some key principles of EVM can make it a successful tool for managing performance on Agile projects.

Digital transformation requires investing early in digital technologies and involves organization-wide changes that pose significant challenges and uncertainties to business leaders. There are many research reports available today on digital transformation technologies, business models, and potential strategies. This Executive Update complements such efforts by assessing the enabling factors, organizational readiness, and skills gaps in Asia-Pacific for 2017. This research was undertaken in conjunction with the IT Conclave organized by the SP Jain School of Global Management in Mumbai, India; Dubai, the United Arab Emirates (UAE); Singapore; and Sydney, Australia, in February 2017. The survey involved more than 150 leaders and business professionals from over 120 organizations. The results were further discussed at IT Conclave events, and inputs were considered in drafting this Update.

Digital transformation requires investing early in digital technologies and involves organization-wide changes that pose significant challenges and uncertainties to business leaders. There are many research reports available today on digital transformation technologies, business models, and potential strategies. This Executive Update complements such efforts by assessing the enabling factors, organizational readiness, and skills gaps in Asia-Pacific for 2017. This research was undertaken in conjunction with the IT Conclave organized by the SP Jain School of Global Management in Mumbai, India; Dubai, the United Arab Emirates (UAE); Singapore; and Sydney, Australia, in February 2017. The survey involved more than 150 leaders and business professionals from over 120 organizations. The results were further discussed at IT Conclave events, and inputs were considered in drafting this Update.

The search for the ideal instantaneous speed to transmit information is well underway; it is already influencing the way we build computers and promises to revolutionize computing speed in both processing and information transmittal. This achievement has been in the making since the beginning of the 21st century: it is called quantum ­computing and is based on the principles of the most impacting and yet least understood branch of science, quantum mechanics, more broadly referred to as quantum physics.

The guiding Lean principle is a focus on consumer value. This compels everyone to clearly understand how (or if!) their efforts contribute to consumer value. This can be a challenge, since many functions interact only with internal customers or intermediaries, having little or no line of sight to the consumer.

Cutter Consortium has been conducting a survey to gain insight into how organizations are adopting — or planning to adopt — blockchain technology. We are also seeking to identify important issues organizations are encountering or foresee encountering in their blockchain efforts. This Executive Update, Part I in a series, examines initial survey findings pertaining to the general status of blockchain in the enterprise as well as whether enterprises have dedicated groups to lead the blockchain initiative. 

Cutter Consortium has been conducting a survey to gain insight into how organizations are adopting — or planning to adopt — blockchain technology. We are also seeking to identify important issues organizations are encountering or foresee encountering in their blockchain efforts. This Executive Update, Part I in a series, examines initial survey findings pertaining to the general status of blockchain in the enterprise as well as whether enterprises have dedicated groups to lead the blockchain initiative. 

IT is often highly complex and difficult for nonspecialists to understand, yet it is crucial for business executives to understand enough about IT to make far-reaching strategic decisions. IT portfolio management (ITPM) forges a critical link between the strategic planning process and the PM process, enabling management to reach consensus on the best use of resources by focusing on projects strategically aligned with the goals of the business.

Today, big data platform providers and third-party security vendors offer enterprise-grade security solutions designed specifically for protecting and securing data maintained in Hadoop and other big data environments.