Business Transformation Requires Transformational Leaders

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.”

In this week's edition of The Cutter Edge, we'll explore how to leverage visuals to make your BA initiatives more effective, and examine the five technologies that could help automate your software development efforts.

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.

About a quarter of surveyed organizations have appointed a “chief customer officer” (CCO) to ensure that the organization provides a unified and seamless customer journey/experience across all customer channels.

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.