What we need is digital disruption
The
IoT will improve efficiencies, but it will also throw up organisational and
leadership challenges in business
New
waves of technologies are transforming the industrial, business and governance
landscape. Sample how the Delhi government is engaging with citizens through
its e-governance app. Everything from reporting on dirty streets to water meter
readings is getting digitised.
On
another vector, YES Bank recently invested significant marketing monies to have
a presence at a Nasscom conference, where its key audience was the IT industry
and CIOs: they are building a business to enable digital and mobile commerce
and seeking to drive more, and deeper, relationships with technology houses to
drive growth.
Even
as companies embrace digital technologies, commonly referred to as SMAC
(social, mobile, analytics and cloud), leveraging them for business gains of
various hues, the next generation of technologies is getting ready to roll. IDC
has identified six key new technologies. Unlike SMAC, these six technologies,
or innovation accelerators, are going to impact businesses’ operating processes
and paradigms, driving deeper transformation.
New internet, virtual reality
Internet
of Things (IOT) is the label given to a connected world where inanimate objects
‘talk’ to each other, exchanging information without human intervention, and
triggering business processes.
For
instance, a trucking company in Delhi has used IoT to track its vehicles while
monitoring essential indicators such as speed, fuel consumption and the general
health of the vehicle, using an integrated system of sensors which feed data
into a mobile-network-connected device. This kind of application can save the
company anywhere between 10-15 per cent of operating costs through reduced pilferage,
prevention of unauthorised stops and preventive maintenance.
By
2020, we expect more than 30 billion devices to be connected on to one single
“new” internet.
Augmented
and virtual reality, the next accelerator, has already invaded the gaming ecosystem.
However, if you are a healthcare provider, you’ll soon be using visors to
virtually train key frontline medical staff. Or, if you happen to be the Army,
virtual battlefields will enable safe and effective training of soldiers.
We
also see applications in R&D, product development and in industries as
disparate as interior design, retail and chemical manufacturing. For us
consumers, expect it to completely transform the ecommerce experience soon as
you buy from a virtual supermarket while wearing your visor and pay at the
virtual self-service checkout. Technology vendors such as Samsung, Facebook and
many others are racing to develop next generation devices which enrich our
experiences.
3D printing, robots
This
can feel gimmicky, with hobbyists “printing” out things made of plastic
materials in their garages. However, this accelerator is already being used to
produce artificial body parts where organ replacements are required. A leading
brand is launching a custom-fit, 3D-printed shoe which is ‘manufactured’ in the
store. 3D-printed prototypes are replacing clay models whilst enabling far more
detail and accuracy in product development labs: and did I mention time savings
to the tune of 60-70 per cent?
3D
printing can, and will, revolutionise supply chains, inventory management
practices, product development and R&D methods and healthcare. Watch out
for the rise of hyper-local, micro-factories which democratise manufacturing,
changing it forever.
Next
generation robots come in two flavours: real and virtual. Physical robots can
now execute tasks that are extremely intricate. Swiss firm ABB recently
showcased a robot folding a paper aeroplane and launching it into the air,
demonstrating the next level of robotic dexterity, programmatic sophistication
and versatility.
Robots
will replace humans in all kinds of repetitive or dangerous tasks: from factory
shopfloors to uranium mines. The day is not far when hotel housekeeping and
even engineering functions see robots playing a bigger role.
Security, thought systems
The
final two innovation accelerators are not just important in themselves but also
have a pervasive impact on the four above, and on a much wider ecosystem.
The
tragedy of the digital age is the increasing incidences of cyber-crime — from
individuals suffering phishing attacks and stolen passwords to large
organisations losing confidential customer data. We are in a perpetual battle
with cyber-criminals, rogue countries and malevolent employees seeking to hack,
steal and sell.
Next-generation
security will blend the physical and digital. CCTV cameras with face
recognition technology built in ensure that if a bad actor enters the premises,
the cameras can instantly trigger alarms and activate relevant business
processes.
On
another front, projects are on to make passwords redundant. Using a combination
of biometrics and behaviour tracking, new age security systems will identify
you with more certainty. The paradigm of security is also being extended to
protect new age robots, IoT networks and virtual reality systems. Success is an
imperative: failure will halt the onset of the digital age in its tracks.
No
doubt, cognitive systems will be the most pervasive accelerator going forward.
The fundamental notion is that machines can self-learn, improve and deliver
superior outcomes over a period of time. This is possible due to breakthrough
technologies manifested in machine learning systems, artificial intelligence
platforms and big data systems. The possibilities in smart traffic management
in cities are also phenomenal with cognitive systems which learn from
historical traffic patterns and can, for example, automatically change the
rhythm of traffic lights, or indeed dynamically set parking charges.
As
a CEO, it is imperative that you understand implications of these emerging
technologies: figuring out how they work could be left to someone else, but
understanding what they can do is of critical importance to you.
Given
the breakneck speed of evolution, coupled with the worsening skills shortages,
it is not an easy or predictable ride. The promise of transformation can only
be realised with visible, sustained leadership from the top, a culture that
pardons innovation failures, the ability to stretch your business model and a
discrete innovation investment fund.
Source | Business Line | 9 June 2016
Regards
Pralhad
Jadhav
Senior
Manager @ Library
Khaitan
& Co
Best
Paper Award | Received the Best Paper Award at TIFR-BOSLA National Conference on
Future Librarianship: Innovation for Excellence (NCFL 2016) on April 23,
2016. The title of the paper is “Removing
Barriers to Literacy: Marrakesh VIP Treaty”
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