A recent study by PwC has confirmed that margins enjoyed by OEMs, dealers and suppliers will reduce substantially from a present 85% to about three-fifths of that by 2030 due to the digital auto revolution. The Strategy and Digital Auto Report 2017 was for the entire world but with specific focus on the biggest markets- US, EU and China. According to the report, cars are shifting towards autonomous and electric models. Customer experience is also evolving with increased personalization and digital commerce. Car companies are collecting enormous customer data and processing business analytics on the same to predict the kind of services they would be requiring. The digital infra is also going through specific changes such as increased scrutiny on cybersecurity and payment gateways. Horizontal and vertical integration is being sought between partners and suppliers. As per the business research undertaken by PwC, mobility will soon be a two-trillion plus industry, though the average spend per customer will reduce due to increased vehicle efficiency. Shared fleets and vehicle pooling will continue to grow and be worth equal to the e-commerce sector soon.

Source:https://www.strategyand.pwc.com/reports/fast-and-furious?platform=hootsuite

Uploaded Date:22 June 2018

Chatbots are nowadays used in a diversity of functions such as voice searches and customer queries using text. The more advanced chatbots use artificial intelligence to glean through past data and deduce user preferences and making recommendations along the way. Google in particular leverages this enormous quantity of data to glean business intelligence about individuals and segments to drive business solutions accordingly. Chatbots are now also being used extensively in management training and development. Employees get connected in this way to the company’s Learning Management System (LMS). It is proving to be particularly helpful in performance support. Five key factors have been identified that truly test the effectiveness of the performance support (PS). There must be strong workforce integration for a start. Then the IT department must be fully engaged in the performance support. The content must be reusable to ensure scale. PS must not be seen as a niche area but must instead proliferate across the organization. The overall learning experience must be smooth and fruitful for the users.

Source:https://elearningindustry.com/training-with-chatbots-rebirth-performance-support

Uploaded Dare :22 June 2018

Drones, remote sensors, portable devices and smart meters stream enormous amounts of data enhancing utilities’ productivity. There exist four stages towards a digitally connected workforce. The workforce management systems need to be modernized. This will also help in talent management, as the people will be able to use technology to help in their work. They will be able to access cloud stored data. The four stages are – legacy solutions, standardized operations, optimized scheduling and having a digital field force. There is little to no automation at the legacy stage, with low visibility of field personnel. At the next, certain processes get standardized with help from simple databases and spreadsheets. At most, GPS can help in vehicle tracking. Paperless processes get a start at optimized stage. Portable handheld devices are made use of. Real time business intelligence starts filtering in at the digital phase when the entire work and asset management gets digitized. Augmented reality tools, smart devices and network sensors get added to the system.

Source:https://www.bcg.com/publications/2018/how-utilities-can-boost-workforce-productivity-digital.aspx?linkId=49755624

Uploaded Date:19 June 2018

The universal desire for continuous cognitive development has led to several apps with dubious effects of brain training doing the rounds. One such is Lumosity, developed by scientists and leveraged by entrepreneurs, apparently enabling others to develop their brains. Yet, its effects are negligible as proven through a recent study by two scientists at the University of Pennsylvania. Lumosity has thus been fined recently by the Federal Trade Commission in the USA due to such faulty claims. But the field of healthcare and neuroscience is more fertile ground and is actually working on genuine product innovation. It is leveraging big data and artificial intelligence to map people’s behavior at various situations. Founded by INSEAD alumni, Bio serenity uses wearable sensors to diagnose epilepsy long before the patient can actually reach any hospital. i-PEPS is using Brain’us to collect data on social cognition using brain testing games. Neuroscience until recently has mainly been used as a market research tool, but now being used for wider applications, especially in healthcare.

Source:https://knowledge.insead.edu/blog/insead-blog/neuroscience-based-product-innovation-hype-or-hope-9196

Uploaded Date:14 June 2018