Some key new findings have emerged in the latest Accenture 2018 Consumer Survey on Digital Health. Healthcare is going through massive change with the incorporation of digitization. Three-fourths of those surveyed in this have claimed that technology is helping them improve health by tracking the right data. Consumer interest is now extremely high on robotics, virtual care and the use of AI. The use of wearable technology has grown nearly four times. On a similar note, mobile apps are now being used by nearly half those polled to track health. Consumers do not at all mind sharing the data procured with their doctors. This data warehousing being done is being used to understand the true symptoms of many a patient for better overall treatment. These same patients are however less keen on sharing such data with the government or their employers. Virtual care is growing at extremely fast pace. It helps in cost reduction, accommodating patients’ schedules and in providing timely care.

Source:https://www.accenture.com/us-en/insight-new-2018-consumer-survey-digital-health?c=psv_consumersurveydtwitter_10289023&n=smc_0618

Uploaded Date:28 July 2018

While the Internet of Things (IoT) is relatively better known now, another opportunity round the corner is Industrial IoT (IIOT). GE Digital aims to be one of the leaders in this field and is already growing at a 100% rate Year-on-Year (YoY) through its Predix platform. GE Digital’s CTO Eddie Amos mentioned how the company aims to be a market leader in the three major upcoming technological trends, although at present expertise remains concentrated in one area. That remains IIOT partnered with its operational expertise. Another trend where GE Digital aims to gain a foothold is Artificial Intelligence (AI) and Machine Learning using Big Data to glean useful business insights. AI and ML are being used at the company’s Monitoring and Diagnostics Center in Atlanta to store vital data on global power supply. The insights tracked will be used in corporate training sessions as material. A third area of interest is the mainstreaming of Augmented Reality (AR). The acquisitions of Medium, Wise.io and Service Max have all been done with an eye on tracking the huge volumes of data at hand.

Source:https://www.industryweek.com/leadership/putting-act-iiot-ge-digital-cto-talks-operational-expertise?linkId=54714258

Uploaded Date :28 July 2018

All kinds of companies big or small have taken up to digitization in some way or the other. This also includes firms engaged in traditional industries such as agriculture and manufacturing. But the efforts at a holistic transformation are falling short at most places. Sometimes different units within the same conglomerate fight within a limited pool in the same market. The concept of organizational structure needs a rethink. Instead of careers, “tours of duty” could be started to improve talent recruitment ofmillennials. Another dilemma is whether to stock up an organization with all kinds of specialists or to team up with expert partners. The operating model too needs a rethink. Ambiguity needs to be weeded out on who or which department takes care of futuristic applications such as cybersecurity, external partnership management and business analytics. Thus, Bain recently conducted a survey to gauge the digital readiness of firms. Among those going for conventional transformation, a mere 12 percent succeeded, 38 percent failed outright and the rest half settled for a somewhat diluted level. The rate of success is even more abysmal in the digital transformation, standing at just five percent. 19 percent failed outright here, while seventy-one percent accepted a watered-down version. Any holistic transformation effort needs to look into the structure, capabilities, accountabilities, internal governance and the style of working.

Source:http://www.bain.com/publications/articles/organizing-for-a-digital-world.aspx

Uploaded Date:28 July 2018

Digitization is here to stay, so companies ought to invest in it with a long-term perspective. The likes of Uber, Netflix and Amazon remain the mainstays of this trend. Even traditional companies such as UPS and Caterpillar have leveraged their enormous data warehousing capabilities to trim their costs, understand their customers better and finally to improve productivity. Some early critics commented on digitization being a mere fad that would pass away just as fax machines, Six Sigma or process reengineering did. However, several experts today point out that in fact it is barely beginning. Digitization requires a change in company culture, its processes and the talent management norms in pace regarding people or skills. Under the processes, one fan further sub-categorize flex structures, ideation routines and tracking storms. An entire mindset shift is needed to effect this transformation. It isn’t merely about the technology, but how the same can impact customer aspirations. One is never too late to digitize, not ever too early.

Source:https://knowledge.insead.edu/leadership-organisations/a-10-point-framework-for-the-digital-journey-6801

Uploaded Date:24 July 2018