Digital Strategy, Operating Models & Technology Implementation Insight
Boost business success via insights on emerging trends in digital transformation and IT strategy; practical frameworks you can apply; and guidance from the world’s experts in leadership, IaaS, investment prioritization, operational excellence, sustainable innovation, change management, enterprise agility, and applying emerging technologies.
Doug Hadden’s article focuses on the opportunities and threats for governments in developing countries and emerging economies. Governments in developed countries exhibit a sophisticated policy design, enabling them to better exploit Industry 4.0, while developing countries and emerging economies, which have lower government effectiveness and less-sophisticated manufacturing, face more obstacles to benefit from Industry 4.0. Hadden discusses the government and country context that must be considered when developing policy interventions to optimize the potential of 4IR while mitigating vulnerability. In this context, the author suggests that policymakers use a VUCA (volatility, uncertainty, complexity, and ambiguity) analysis to determine potential and vulnerability. He then recommends public policy interventions to maximize potential and reduce vulnerability.
Joel Nichols discusses the barriers and challenges facing regulated industries as they attempt to implement Industry 4.0 technologies and change their culture. The article examines the questions that regulated industries must address as they embrace digital transformation and the advances that specific Industry 4.0 technologies can yield. The author argues that although digital transformation may require more time in regulated than in nonregulated industries, “the impact of regulated industry transformation on producers and consumers alike ultimately will be greater than that of the nonregulated sector.”
People’s increased mobility, facilitated by air travel, has resulted in the increased spread of contagion across geopolitical boundaries. A growing awareness that bioterrorism agents could spread in the same way has raised the level of concern even more. Many practitioners and researchers agree that contact tracing, which is the identification and locating of people who may have been in contact with an infected person, represents an important factor in mitigating the spread of a pandemic.
Scientific-based modeling systems contain extraordinary amounts of data and produce mountains of output. These systems offer almost limitless options for providing the user with informed knowledge. This Advisor seeks to use the concept of technology embeddedness to delineate factors that are prohibiting emergency managers from harnessing the capability of scientific modeling systems when responding to disasters.
The growing prevalence of the Internet of Things, together with plummeting component costs, has made it possible to connect just about anything, from the very simple to the very complex, and to offer remote access, sensing, control, and monitoring. These technologies make it possible for healthcare providers and patients to work together to improve health in novel ways that were previously unimaginable. A critical element in this new model is that focusing on what is happening with the patient when they are not in front of a health professional, using sensors to deliver remote monitoring and a more complete picture of an individual’s health, is more likely to have an impact than focusing on the brief amount of time spent during in-person medical visits.
Here in Part II of this Executive Update series on customer experience (CX) management, we look at survey findings covering budgeting trends for CX initiatives and the status of the “chief customer officer” (CCO) in the enterprise.
The financial industry is currently focusing on AI solutions using ML and NLP technologies. Software, fintech, and regtech vendors are developing and improving models using data and supervised (training) and unsupervised learning. This proves more effective than previous AI approaches. This Advisor explores the current state of practice in the financial industry’s application of AI.
Many companies are unsatisfied with their innovation efforts and part of this is undoubtedly due to challenges around ideation and idea management. The required contribution of breakthrough innovation is ever-increasing, adding to this pressure. However, it is clear that some companies have developed strong processes and are reaping the rewards. The best practices outlined in this Advisor can help.