Cloud, cognitive computing and IoT are hot. At the recently held IBM Cloud Innovation Forum in Bangalore, they were the points of discussion. The Big Blue experts and IBM partners spoke about how these three are going to impact the businesses in the near future.
In the next wave of digital transformation, the business will have to go to the cloud, adopt cognitive computing to be IoT ready. They will have to own their data in a very different way – evolve an all new customer experience, because that is what is going to be the main differentiator. As Vanitha Narayanan, Managing Director, IBM India puts it, “80 percent of the CEO across the world no matter whether you are large or small is talking about better customer experience. It is all about better customer experience. That is where you focus on, where the competition is coming from. They are truly causing the disruption. That is why developing an ecosystem will be more important than ever before. It is about creating an ecosystem to innovate – co-innovation, co-development, co-funding. That’s the new normal.” She explains that while technology brings capabilities, the real disruption and digital transformation will only be possible when there is a disruption in the mindset, business model and customer centricity.
During the discussions at this mega event, some key ideas came to the fore which is important especially if you are going in for the much talked about digital transformation.
Here are they are:
# 1: Cloud is the foundation of the innovation journey. It enables rich user experience. Its implementation is rapid and accessibility unlimited. Gives better access to compute power. Cloud finally drives out cost and improves efficiency.
#2. Cloud and digital transformation is really opening up opportunity to look at everything. Cloud and disruption is giving a chance to businesses to go back and look at doing things in a different ways. The businesses have to look at user experience and different ways to engage customers. Bring to customers new things that they have never done before. And this is what cognitive in cloud enables.
#3: Cloud is an enabler and an accelerator. It gives you access to any resource anywhere and anytime in an easy to use way.
#4: Data is the new currency, the new gold. How you deal with this new resource is what creates that differentiation. That is where cognitive comes in. Cognitive is the sweet spot. It allows you to use data in an innovative way based on analysis.
#5: Use big data context to improve analytical insight to make better decisions. Nurture your data. Go from data to decision and do it. Use data insights to transform business model but humanize the model. Bring people from user experience and digital artisans together to create the human experience. Share and bring the information to life – what we call the human tech interaction, design thinking.
#6: IOT is digitizing the physical world. It is enabling us a predictive power. The IoT driven sensors today are allowing us to predict failure of machines, and thereby creating a cost saving which can help us further improve consumer experience.
#7: Video will transform every single industry, every single market. Combining the power of cognitive technology and video, you can address every issue on the ground.
#8: APIs have taken a new form of that of a product, which is fueling collaborative innovation. It is the API economy that has the power to disrupt industries.
#9: Cognitive computing helps businesses deliver on anticipatory analytics, which is the heart of AI driven smart services. AI driven smart services will be the next level of customer relationship management.
#10: To succeed, companies must master both the sides – the digital customer experience as well as digital operational excellence. But, one must also remember that automation should not kill personality, in other words, it should not kill the emotional connect with customers. That is humanizing technology will the business.