Retail 2.0: The Rise of Instant Gratification and the Tech That Feeds It

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Over a century ago, the advent of commercial flights marked a pivotal moment in globalisation, shrinking the time-distance between cities and nations. Less than a century later, the first video call foreshadowed a future where conversations could span continents in real time, compressing the space-distance between people.

The world feels smaller, not literally, but in how we experience space and time. Messages that once took days to deliver arrive instantly. Distances between cities are now measured in hours, not miles. A product designed in New York is manufactured in Shenzhen and reaches London shelves within weeks. In essence, things traverse the world with far less friction than it once did.

Welcome to The Immediate Economy!

The gap between desire and fulfilment has narrowed, driven by technology’s speed and convenience. This time-space annihilation has ushered in what we now call The Immediate Economy.

Such transformations haven’t gone unnoticed, at the click of a button is now a native (sort of cliché) expression. Amidst all this innovation, a new type of consumer has emerged – one whose attention is fleeting and easy to lose. Modern consumers have compelled industries, especially retail and ecommerce, to evolve, creating experiences that not only capture but also hold their interest.

Beyond Usability: Crafting a Memorable User Experience

Selling a product is no longer about just the product itself; it’s about the lifestyle, the experience, and the rush of dopamine with every interaction. And it’s all because of technology.

In a podcast interview with the American Psychological Association, Professor Gloria Mark from the University of California, Irvine, revealed a significant decline in attention spans on screens, from 150 seconds in 2004 to 40 seconds in the last five years. Social media platforms have spoiled the modern consumer by curating content that caters instantly to desires. Influence spills into the retail sector, compelling retailers to create experiences matching the immediacy and personalisation people now expect.

Modern consumers require modern retail experiences. Take Whole Foods, and their recent partnership with Amazon’s Dash Cart, transforming the mundane act of grocery shopping into a seamless dance of efficiency. Shoppers can now glide through aisles with carts that tally selections and debit totals directly from their accounts, rendering checkout lines obsolete. It’s more than convenience; it reimagines retail – a choreography of consumerism where every step is both effortless and calculated.

Whole Foods can analyse data from their Dash Cart technology to gain valuable insights into shopping patterns. The Immediate Economy revolutionises retail, transforming it into a hyper-efficient, personalised experience.

Retail’s new Reality: The Rise of Experiential Shopping

Just as Netflix queues up a binge-worthy series; retailers create shopping experiences as engaging and addictive as your favourite shows.

It’s been a financially rough year for Nike, but that hasn’t stopped them from expanding their immersive retail experience. Nike’s “House of Innovation” leverages 3D holographic tech. Customers can inspect intricate details of sneakers, including the texture of the fabric, the design of the laces, and the construction of the sole. The holographic display can also adjust to different lighting conditions and present the sneaker in various colours, providing a truly immersive and personalised shopping experience.

Fashion commerce platforms like Farfetch are among many integrating Virtual Try-On (VTO) technology. Leveraging the camera and sensors of customer devices, their AR technology overlays a digital image of a handbag onto a live view of a customer, enabling them to see how different styles and sizes would look on you. This approach to ecommerce enhances experiences, elevating interaction.

The 3D holographic display and the AR tech, are unique and visually appealing ways to showcase products, allowing customers to interact with products in a way that is not possible with traditional displays. Each shopping trip feels like the next episode of retail therapy.

The Evolution of Shopptertainment

The bar for quick content consumption is higher than ever thanks to platforms like TikTok and Instagram.

A prime example of this trend is Styl, a tech startup from two Duke students, with their “Tinder for shopping” application. Styl offers a swipeable interface for discovering and purchasing fashion items, seamlessly integrating the convenience and engagement of social media into the retail experience.

Styl goes beyond a simple swipe. By leveraging AI algorithms, it learns your preferences and curates a personalised feed of clothing items that align with your taste. Streamlining the shopping process, they deliver a tailored experience that caters to the modern consumer’s desire for convenience and personalisation.

Interestingly, Styl isn’t even a retail company; it pools items from websites, redirecting the users with relevant interest. They combine ecommerce with AI, creating the ultimate shopping experience for today’s customer. It’s fast, customised, and changing the way we shop.

Styl is not the first ones to do this, Instagram and TikTok provide individualised suggestions within their marketplace. But they differ by selling an experience, a vibe. That’s what sets them apart.

Tech-Powered Retail: The Heart of the Immediate Economy

History is filled with examples of societal innovation, but the Immediate Economy is transforming retail in exciting ways. In the 21st century, technology is both the catalyst and the consequence of the retail industry transformation. It began by capturing and fragmenting the average consumer’s attention, and now it’s reshaping consumer-brand relationships.

Today’s consumers crave personalised shopping. Whole Foods, with its AI-driven Dash Carts, is redefining convenience. Nike and Farfetch, through immersive AR and 3D tech, is making shopping an interactive adventure. Meanwhile, startups like Styl are leveraging AI to bring personalized fashion choices directly to consumers’ smartphones.  The world is shrinking, not just in miles, but in the milliseconds it takes to satisfy a desire. From the aisles of Whole Foods to the virtual showrooms of Farfetch, The Immediate Economy offers an immersive world, where time and space bend to technology’s will, and instant gratification is no longer a perk; it’s an expectation. The Immediate Economy is here, and it’s changing how we interact with the world around us. Welcome to the future of retail, and everything else.

The Experience Economy
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Future-Proofing Citizen Services: Technology Strategies for the Public Sector

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Innovation is a driving force behind new approaches, often occurring at the point of adoption rather than technology development. As public sector organisations increasingly focus on improving citizen services through technology, it is important to adopt a strategic approach that considers innovation as a complex journey of systemic and cultural transformation. This strategic approach should guide the integration of technology into citizen services.

Here is a comprehensive look at what public sector organisations should consider when integrating technology into citizen services.

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Download ‘Future-Proofing Citizen Services: Technology Strategies for the Public Sector‘ as a PDF

1. Immediate View: Foundational Technologies

The immediate view focuses on deploying technologies that are widely adopted and essential for current digital service provision. These foundational technologies serve as the backbone for enhancing citizen services.

Foundational Technologies

Web 2.0. Establishing a solid online presence is usually the first step, as it is the broadest channel for reaching customers. Web 2.0 refers to the current state of the internet, encompassing dynamic content and interactive websites.

Mobile Applications. Given that mobile usage has surpassed desktop, a mobile-responsive platform or a dedicated mobile app is crucial. Mobile apps provide a more specialised and immersive user experience by utilising device-specific features like GPS, document scanning, and push notifications.

2. Second-Generation Enablers: Emerging Technologies

As organisations establish foundational technologies, they should look towards second-generation enablers. Although less mature, these technologies offer emerging digital opportunities, and can significantly enhance service differentiation. 

Emerging Technologies

Interactive Voice Response (IVR) systems improve the efficiency and effectiveness of digital services by routing callers to self-service options and providing relevant information without human intervention. These systems operate outside typical government agency working hours, ensuring continuous accessibility. Additionally, IVRs generate valuable data for future Voice of the Customer programs, improving overall service quality and responsiveness.

Digital Wallets facilitate transactions by expediting fund transfers and enhancing transparency through meticulous transaction records. They streamline administrative tasks, simplify transactions, and encourage service usage and adoption. 

AI-driven Virtual Agents or chatbots revolutionise customer interactions by providing 24/7 support. They offer prompt, efficient, and personalised services, enhancing customer satisfaction and trust. In resource-limited public sectors, virtual agents are cost-effective, optimising resource allocation and meeting growing service demands. Specialised virtual agents for specific sectors can further differentiate service providers.

3. Futuristic View: Ambitious Innovations

The futuristic view focuses on forward-looking technologies that address long-term roadblocks and offer transformative potential. These technologies are currently speculative but hold the promise of significantly reshaping the market.

Innovations

Subscription Management models enable public sector information services to be accessed in highly personalised ways, thereby enhancing citizen engagement. This model supports regulatory oversight by providing common data insights and improves the management of services, ultimately benefiting the public by ensuring more responsive and tailored information delivery.

AI concierge leverages advanced technologies like Natural Language Processing, Computer Vision, and Speech Technologies to provide personalised and proactive customer service. They redefine customer management, ensuring a seamless and tailored experience.

Immersive reality technologies, such as augmented and virtual reality (AR/VR) create captivating customer experiences by allowing interactions in virtual environments. These technologies establish a shared virtual environment, helping customers to engage with businesses and each other in new and immersive ways. As an emerging customer management tool, immersive reality can transform the dynamics of customer-business relationships, adding substantial value to the service experience.

The Future of Industries
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Innovation in Government: Social, Economic, and Environmental Wins

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Governments worldwide struggle with intricate social, economic, and environmental challenges. Tight budgets often leave them with limited resources to address these issues head-on. However, innovation offers a powerful path forward.

By embracing new technologies, adapting to cultural shifts, and fostering new skills, structures, and communication methods, governments can find solutions within existing constraints.

Find out how public sector innovation is optimising internal operations, improving service accessibility, bridging the financial gap, transforming healthcare, and building a sustainable future.

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Click here to download ‘Innovation in Government: Social, Economic, and Environmental Wins’ as a PDF

Optimising Operations: Tech-Driven Efficiency

Technology is transforming how governments operate, boosting efficiency and allowing employees to focus on core functions.

Here are some real-world examples.

Singapore Streamlines Public Buses. A cloud-based fleet management system by the Land Transport Authority (LTA) improves efficiency, real-time tracking, data analysis, and the transition to electric buses.

Dubai Optimises Utilities Through AI. The Dubai Electricity and Water Authority (DEWA) leverages AI for predictive maintenance, demand forecasting, and grid management. This enhances service reliability, operational efficiency, and resource allocation for power and water utilities.

Automation Boosts Hospital Efficiency. Singapore hospitals are using automation to save man-hours and boost efficiency. Tan Tock Seng Hospital automates bacteria sample processing, increasing productivity without extra staff, while Singapore General Hospital tracks surgical instruments digitally, saving thousands of man-hours.

Tech for Citizens

Digital tools and emerging technologies hold immense potential to improve service accessibility and delivery for citizens. Here’s how governments are leveraging tech to benefit their communities.

Faster Cross-Border Travel. Malaysia’s pilot QR code clearance system expedites travel for factory workers commuting to Singapore, reducing congestion at checkpoints.

Metaverse City Planning. South Korea’s “Metaverse 120 Center” allows residents to interact with virtual officials and access services in a digital environment, fostering innovative urban planning and infrastructure management.

Streamlined Benefits. UK’s HM Revenue and Customs (HMRC) launched an online child benefit claim system that reduces processing time from weeks to days, showcasing the efficiency gains possible through digital government services.

Bridging the Financial Gap

Nearly 1.7 billion adults or one-third globally, remain unbanked.

However, innovative programs are bridging this gap and promoting financial inclusion.

Thailand’s Digital Wallet. Aimed at stimulating the economy and empowering underserved citizens, Thailand disburses USD 275 via digital wallets to 50 million low-income adults, fostering financial participation.

Ghana’s Digital Success Story. The first African nation to achieve 100% financial inclusion through modernised platforms like Ghana.gov and GhanaPay, which facilitate payments and fee collection through various digital channels.

Philippines Embraces QR Payments. The City of Alaminos leverages the Paleng-QR Ph Plus program to promote QR code-based payments, aligning with the central bank’s goal of onboarding 70% of Filipinos into the formal financial system by 2024.

Building a Sustainable Future

Governments around the world are increasingly turning to technology to address environmental challenges and preserve natural capital.

Here are some inspiring examples.

World’s Largest Carbon Capture Plant. Singapore and UCLA joined forces to build Equatic-1, a groundbreaking facility that removes CO2 from the ocean and creates carbon-negative hydrogen.

Tech-Enhanced Disaster Preparedness. The UK’s Lincolnshire County Council uses cutting-edge geospatial technology like drones and digital twins. This empowers the Lincolnshire Resilience Forum with real-time data and insights to effectively manage risks like floods and power outages across their vast region.

Smart Cities for Sustainability. Bologna, Italy leverages the digital twins of its city to optimise urban mobility and combat climate change. By analysing sensor data and incorporating social factors, the city is strategically developing infrastructure for cyclists and trams.

Tech for a Healthier Tomorrow

Technology is transforming healthcare delivery, promoting improved health and fitness monitoring.

Here’s a glimpse into how innovation is impacting patient care worldwide.

Robotic Companions for Seniors. South Korea tackles elder care challenges with robots. Companion robots and safety devices provide companionship and support for seniors living alone.

VR Therapy for Mental Wellness. The UAE’s Emirates Health Services Corporation implements a Virtual Reality Lab for Mental Health, that creates interactive therapy sessions for individuals with various psychological challenges. VR allows for personalised treatment plans based on data collected during sessions.

The Future of Industries
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The Future of Healthcare: The Rise of AI Startups and Digital Innovation

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Healthcare delivery and healthtech have made significant strides; yet, the fundamental challenges in healthcare have remained largely unchanged for decades. The widespread acceptance and integration of digital solutions in recent years have supported healthcare providers’ primary goals of enhancing operational efficiency, better resource utilisation (with addressing skill shortages being a key driver), improving patient experience, and achieving better clinical outcomes. With governments pushing for advancements in healthcare outcomes at sustainable costs, the concept of value-based healthcare has gained traction across the industry.

Technology-driven Disruption

Healthcare saw significant disruptions four years ago, and while we will continue to feel the impact for the next decade, one positive outcome was witnessing the industry’s ability to transform amid such immense pressure. I am definitely not suggesting another healthcare calamity! But disruptions can have a positive impact – and I believe that technology will continue to disrupt healthcare at pace. Recently, my colleague Tim Sheedy shared his thoughts on how 2024 is poised to become the year of the AI startup, highlighting innovative options that organisations should consider in their AI journeys. AI startups and innovators hold the potential to further the “good disruption” that will transform healthcare.

Of course, there are challenges associated, including concerns on ethical and privacy-related issues, the reliability of technology – particularly while scaling – and on professional liability. However, the industry cannot overlook the substantial number of innovative startups that are using AI technologies to address some of the most pressing challenges in the healthcare industry.

Why Now?

AI is not new to healthcare. Many would cite the development of MYCIN – an early AI program aimed at identifying treatments for blood infections – as the first known example. It did kindle interest in research in AI and even during the 1980s and 1990s, AI brought about early healthcare breakthroughs, including faster data collection and processing, enhanced precision in surgical procedures, and research and mapping of diseases.

Now, healthcare is at an AI inflection point due to a convergence of three significant factors.

  • Advanced AI. AI algorithms and capabilities have become more sophisticated, enabling them to handle complex healthcare data and tasks with greater accuracy and efficiency.
  • Demand for Accessible Healthcare. Healthcare systems globally are striving for better care amid resource constraints, turning to AI for efficiency, cost reduction, and broader access.
  • Consumer Demand. As people seek greater control over their health, personalised care has become essential. AI can analyse vast patient data to identify health risks and customise care plans, promoting preventative healthcare.

Promising Health AI Startups

As innovative startups continue to emerge in healthcare, we’re particularly keeping an eye on those poised to revolutionise diagnostics, care delivery, and wellness management. Here are some examples.

DIAGNOSTICS

  • Claritas HealthTech has created advanced image enhancement software to address challenges in interpreting unclear medical images, improving image clarity and precision. A cloud-based platform with AI diagnostic tools uses their image enhancement technology to achieve greater predictive accuracy.
  • Ibex offers Galen, a clinical-grade, multi-tissue platform to detect and grade cancers, that integrate with third-party digital pathology software solutions, scanning platforms, and laboratory information systems.
  • MEDICAL IP is focused on advancing medical imaging analysis through AI and 3D technologies (such as 3D printing, CAD/CAM, AR/VR) to streamline medical processes, minimising time and costs while enhancing patient comfort.
  • Verge Genomics is a biopharmaceutical startup employing systems biology to expedite the development of life-saving treatments for neurodegenerative diseases. By leveraging patient genomes, gene expression, and epigenomics, the platform identifies new therapeutic gene targets, forecasts effective medications, and categorises patient groups for enhanced clinical efficacy.
  • X-Zell focuses on advanced cytology, diagnosing diseases through single atypical cells or clusters. Their plug-and-play solution detects, visualises, and digitises these phenomena in minimally invasive body fluids. With no complex specimen preparation required, it slashes the average sample-to-diagnosis time from 48 hours to under 4 hours.

CARE DELIVERY

  • Abridge specialises in automating clinical notes and medical discussions for physicians, converting patient-clinician conversations into structured clinical notes in real time, powered by GenAI. It integrates seamlessly with EMRs such as Epic.
  • Waltz Health offers AI-driven marketplaces aimed at reducing costs and innovative consumer tools to facilitate informed care decisions. Tailored for payers, pharmacies, and consumers, they introduce a fresh approach to pricing and reimbursing prescriptions that allows consumers to purchase medication at the most competitive rates, improving accessibility.
  • Acorai offers a non-invasive intracardiac pressure monitoring device for heart failure management, aimed at reducing hospitalisations and readmissions. The technology can analyse acoustics, vibratory, and waveform data using ML to monitor intracardiac pressures.

WELLNESS MANAGEMENT

  • Anya offers AI-driven support for women navigating life stages such as fertility, pregnancy, parenthood, and menopause. For eg. it provides support during the critical first 1,001 days of the parental journey, with personalised advice, tracking of developmental milestones, and connections with healthcare professionals.
  • Dacadoo’s digital health engagement platform aims to motivate users to adopt healthier lifestyles through gamification, social connectivity, and personalised feedback. By analysing user health data, AI algorithms provide tailored insights, goal-setting suggestions, and challenges.

Conclusion

There is no question that innovative startups can solve many challenges for the healthcare industry. But startups flourish because of a supportive ecosystem. The health innovation ecosystem needs to be a dynamic network of stakeholders committed to transforming the industry and health outcomes – and this includes healthcare providers, researchers, tech companies, startups, policymakers, and patients. Together we can achieve the longstanding promise of accessible, cost-effective, and patient-centric healthcare.

The Future of Industries

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IoT & Edge Transforming Financial Services

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In this Insight, guest author Anupam Verma talks about how a smart combination of technologies such as IoT, edge computing and AI/machine learning can be a game changer for the Financial Services industry. “With the rise in the number of IoT devices and increasing financial access, edge computing will find its place in the sun and complement (and not compete) with cloud computing.”

Anupam Verma, Leadership Team, ICICI Bank

The number of IoT devices have now crossed the population of planet earth. The buzz around the Internet of Things (IoT) refuses to go down and many believe that with 5G rollouts and edge computing, the adoption will rise exponentially in the next 5 years.

The IoT is described as the network of physical objects (“things”) embedded with sensors and software to connect and exchange data with other devices over the internet. Edge computing allows IoT devices to process data near the source of generation and consumption. This could be in the device itself (e.g. sensors), or close to the device in a small data centre. Typically, edge computing is advantageous for mission-critical applications which require near real-time decision making and low latency. Other benefits include improved data security by avoiding the risk of interception of data in transfer channels, less network traffic and lower cost. Edge computing provides an alternative to sending data to a centralised cloud.

In the 5G era, a smart combination of technologies such as IoT, edge computing and AI/machine learning will be a game changer. Multiple uses cases from self-driving vehicles to remote monitoring and maintenance of machinery are being discussed. How do we see IoT and the Edge transforming Financial Services?

Before we go into how these technologies can transforming the industry, let us look at current levels of perception and adoption (Figure 1).

Adoption and Perception of Emerging Technology in Financial Services

There is definitely a need for greater awareness of the capabilities and limitations of these emerging technologies in the Financial Services.

Transformation of Financial Services

The BFSI sector is increasingly moving away from selling a product to creating a seamless customer journey. Financial transactions, whether it is payment, transfer of money, or a loan can be invisible, and Edge computing will augment the customer experience. This cannot be achieved without having real-time data and analytics to create an updated 360-degree profile of the customer at all times. This data could come from multiple IoT devices, channels and partners that can interface and interact with the customer. A lot of use cases around personalisation would not be possible without edge computing. The Edge here would mean faster processing and smoother experience leading to customer delight and a higher trust quotient.

With IoT, customers can bank anywhere anytime using connected devices like wearables (smartwatches, fitness trackers etc). People can access account details, contextual offers at their current location or make payments without even needing a smartphone.

Industries of the Future

Use Cases of IoT & Edge in Financial Services

IT and Digital Leaders in Financial Services are aware of the benefits of IoT and there are some use cases that most of them think will help transform Financial Services (Figure 2).   

Top Use cases of IoT in Financial Services Industry

However, there are many more potential use cases. Here are some use cases whose volume will only grow every day to fuel incessant data generation, consumption and processing at the Edge.

  • Smart Homes. IoT devices like Alexa/Google Home have capabilities to become “bank in a speaker” with edge computing.
  • In-Sync Omnichannels. IoT devices can be synced with other banking channels. A customer may start a transaction on an IoT device and complete it in a branch. Facial recognition can be used to identify the customer after he/she walks in and synced IoT devices will ensure that the transaction is completed without any steps repeated (zero re-work) thereby enhancing customer satisfaction.
  • Virtual Relationship Managers. In a digital branch, the customer may use Virtual Reality (VR) headsets to engage with virtual relationship managers and relevant experts. Gamification using VR can be amazingly effective in the area of financial literacy and financial planning.
  • Home and Auto Purchase. VR may also find use in home and auto purchase processes with financing built into it. The entire customer journey will have a much smoother experience with edge computing.
  • Auto and Health Insurance. Companies can use IoT (device installed in the vehicle) plus edge computing to monitor and improve driving behaviour, eventually rewarding safety with lower premiums. The growth in electric mobility will continue to provide the basis for auto insurance. Companies can use wearables to monitor crucial health parameters and exercising habits. The creation of real-time dynamic rewards around it can change behaviour towards a healthier lifestyle. Awareness, longevity, rising costs and pandemic will only fuel this sector’s growth.
  • Payments. Device to device contactless payment protocol is picking up and IoT and edge computing can create next-gen revolution in payments. Your EV could have an embedded wallet and pay for its parking and toll.
  • Branch/ATM.  IoT sensors and CCTV footage from branches/ATMs can be utilised in real-time to improve branch productivity as well as customer engagement, at the same time enhancing security. It could also help in other situations like low cash levels in ATMs and malfunctions. Sending live video streams for video analytics to the cloud can be expensive. By processing data within the device or on-premises, the Edge can help lower costs and reduce latency.
  • Trading in Securities. Another area where response time matters is algorithmic trading. Edge computing will help to quickly process and analyse a large amount of data streaming real-time from multiple feeds and react appropriately.
  • Trade Finance. Real-time tracking of goods may add a different dimension to the risk, pricing and transparency of supply chains.

Cloud vs Edge

The decision to use cloud or edge will depend on multiple considerations. At the same time, all the data from IoT devices need not go to the cloud for processing and choke network bandwidth. In fact, some of this data need not be stored forever (like video feeds etc). As a result, with the rise in the number of IoT devices and increasing financial access, edge computing will find its place in the sun and complement (and not compete) with cloud computing.

The views and opinions mentioned in the article are personal.

Anupam Verma is part of the Leadership team at ICICI Bank and his responsibilities have included leading the Bank’s strategy in South East Asia to play a significant role in capturing Investment, NRI remittance, and trade flows between SEA and India.

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The Winning Formula – Achieving Success with AI

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Last week I wrote about the need to remove hype from reality when it comes to AI. But what will ensure that your AI projects succeed?

It is quite obvious that success is determined by human aspects rather than technological factors. We have identified four key organisational actions that enable successful AI implementation at scale (Figure 1).

Keys to Unlock AI Nirvana - Enabled by Upskilling

#1 Establish a Data Culture

The traditional focus for companies has been on ensuring access to good, clean data sets and the proper use of that data. Ecosystm research shows that only 28% of organisations focused on customer service, also focus on creating a data-driven organisational culture. But our experience has shown that culture is more critical than having the data. Does the organisation have a culture of using data to drive decisions? Does every level of the organisation understand and use data insights to do their day-to-day jobs? Is decision-making data-driven and decentralised, needing to be escalated only when there is ambiguity or need for strategic clarity? Do business teams push for new data sources when they are not able to get the insights they need?

Without this kind of culture, it may be possible to implement individual pieces of automation in a specific area or process, applying brute force to see it through. In order to transform the business and truly extract the power of AI, we advise organisations to build a culture of data-driven decision-making first. That organisational mindset,  will make you capable implementing AI at scale. Focusing on changing the organisational culture will deliver greater returns than trying to implement piecemeal AI projects – even in the short to mid-term.

#2 Ingrain a Digital-First Mindset

Assuming a firm has passed the data culture hurdle, it needs to consider whether it has adopted a digital-first mindset. AI is one of many technologies that impact businesses, along with AR/VR, IoT, 5G, cloud and Blockchain to name a few. Today’s environment requires firms to be capable of utilising a variety of these technologies – often together – and possessing a workforce capable of using these digital tools.

A workforce with the digital-first mindset looks for a digital solution to problems wherever appropriate. They have a good understanding of digital technologies relevant to their space and understand key digital methodologies – such as Customer 360 to deliver a truly superior customer experience or Agile methodologies to successfully manage AI at scale.

AI needs business managers at the operational levels to work with IT or AI tech teams to pinpoint processes that are right for AI. They need to make an estimation based on historical data of what specific problems require an AI solution. This is enabled by the digital-first mindset.

#3 Demystify AI

The next step is to get business leaders, functional leaders, and business operational teams – not just those who work with AI – to acquire a basic understanding of AI.

They do not need to learn the intricacies of programming or how to create neural networks or anything nearly as technical in nature. However, all levels from the leadership down should have a solid understanding of what AI can do, the basics of how it works, how the process of training data results in improved outcomes and so on. They need to understand the continuous learning nature of AI solutions, getting better over time. While AI tools may recommend an answer, human insight is often needed to make a correct decision off this recommendation.

AI Research and Reports

#4 Drive Implementation Bottom-Up

AI projects need alignment, objectives, strategy – and leadership and executive buy-in. But a very important aspect of an AI-driven organisation that is able to build scalable AI, is letting projects run bottom up.

As an example, a reputed Life Sciences company embarked on a multi-year AI project to improve productivity. They wanted to use NLP, Discovery, Cognitive Assist and ML to augment clinical proficiency of doctors and expected significant benefits in drug discovery and clinical trials by leveraging the immense dataset that was built over the last 20 years.

The company ran this like any other transformation project, with a central program management team taking the lead with the help of an AI Centre of Competency. These two teams developed a compelling business case, and identified initial pilots aligned with the long-term objectives of the program. However, after 18 months, they had very few tangible outcomes. Everyone including doctors, research scientists, technicians, and administrators, who participated in the program had their own interpretation of what AI was not able to do.

Discussion revealed that the doctors and researchers felt that they were training AI to replace themselves. Seeing a tool trying to mimic the same access and understanding of numerous documents baffled them at best. They were not ready to work with AI programs step-by-step to help AI tools learn and discover new insights.

At this point, we suggested approaching the project bottom-up – wherein the participating teams would decide specific projects to take up. This developed a culture where teams collaborated as well as competed with each other, to find new ways to use AI. Employees were shown a roadmap of how their jobs would be enhanced by offloading routine decisions to AI. They were shown that AI tools augment the employees’ cognitive capabilities and made them more effective.

The team working on critical trials found these tools extremely useful and were able to collaborate with other organisations specialising in similar trials. They created the metadata and used ML algorithms to discover new insights. Working bottom-up led to a very successful AI deployment.

We have seen time and again that while leadership may set the strategy and objectives, it is best to let the teams work bottom-up to come up with the projects to implement.

#5 Invest in Upskilling

The four “keys” are important to build an AI-powered, future-proof enterprise. They are all human related – and when they come together to work as a winning formula is when organisations invest in upskilling. Upskilling is the common glue and each factor requires specific kinds of upskilling (Figure 2).

Upskilling needs vary by organisational level and the key being addressed. The bottom line is that upskilling is a universal requirement for driving AI at scale, successfully. And many organisations are realising it fast – Bosch and DBS Bank are some of the notable examples.

How much is your organisation invested in upskilling for AI implementation at scale? Share your stories in the comment box below.

Written with contributions from Ravi Pattamatta and Ratnesh Prasad

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Microsoft Flight Simulator Launch

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Last year Microsoft announced it was developing a new version of Flight Simulator which caught many of us by surprise. Flight Simulator? Really? The last launch of a new version of the game was in 2006 – 14 years ago, now!! How does something come back after all these years?

Now that it has launched about a week ago, the initial feedback has been extremely positive and it appears that Microsoft has a winner here. An analysis even claims that it will spur $2.6 billion in hardware sales of PCs, game accessories and the like!

I wanted to unpeel the onion a bit to take a closer look at what is going on and discovered a world of interesting developments around this product.

My first thoughts on hearing the announcement was that Microsoft, who has been steadily losing the battle of consoles to Sony’s PlayStation platform, was reviving this old favourite to resuscitate its drooping share.

Not a bad move. Flight Simulator has a core of die-hard fans – it even boasts of professional pilots who play the game as relaxation. It has a long history and a captive fan community. But it is old. That loyal community is not part of the demographic that a gaming company would normally look at today.

The other interesting aspect to consider is the COVID-19 situation this year. Obviously, Microsoft did not know this at the time they embarked on this project but the pandemic has turned everything on its head – hardware sales are through the roof – including accessories, at a time when people have been homebound and looking for entertainment within the four walls of one’s abode. The Ecosystm Digital Priorities in the New Normal study finds that 76% of organisations increased their hardware investments when the crisis hit – and 67% of organisations expect their hardware spending to go up in 2020-21. And that is only on the enterprise side of things. On the consumer side, at this point joysticks are in short supply – a trend that seems to have been accelerated by the Microsoft launch last week, interestingly – and so are PCs. The PC vendors are all enjoying a bumper year of growth. This is an ideal time to launch a really cool new version of the game.

Microsoft’s Bigger Game

The reality however is that while Flight Simulator will add to the revenue and also give Xbox One a fillip, Microsoft is probably after a much bigger “game” (excuse the pun!). The company has called its ‘Xbox Game Pass’ the Netflix of the gaming market. With multiple cloud-based gaming platforms having been launched – many with subscription services – the battle is on to decide the winners in a relatively new space. To this end, Microsoft has announced an intention to make Game Pass available across different devices – XBox console, PCs, tablets, phones. Having a title like Flight Simulator available through Game Pass, will act as a key hook to get customers to sign up for the subscription.

The new Flight Simulator version has been developed using AI and real-world imagery brought in with data from Bing Maps. With the newly added realistic scenery, it also seems like a great fit for use with the HoloLens Virtual Reality headsets. In one shot Microsoft is showcasing their lead in areas of technology which are likely to prove attractive to developers in a big way. I believe that this is a way for them to entice more developers on to Azure and to Microsoft cloud to develop their games – “AI SDKs anyone? Virtual Reality tools anyone?”

What seems at first glance like the launch of a new “future is here” version of a great game will turn out to be a possible big swing at multiple targets by Microsoft – at leadership in gaming with Game Pass; at reviving Xbox fortunes; at leadership in game development platforms, with Azure packing AI services, Bing Maps, AR/VR tools, among other technologies to move more development on to the Microsoft cloud. In the process Microsoft launched a highly enjoyable game and got closer to their ultimate aim to indeed become the Netflix of gaming.

Great move Microsoft! Tip: This could also give them a foothold in the virtual travel and virtual vacations market! That would be a hot seller in these times.

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