10 Ways the New ICT technologies will Change Enterprise Innovation

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10 ways the New ICT Technologies will change Enterprise Innovation-1

Information and Communication Technology (ICT) is conquering the world and enterprises are undergoing digital transformation via the new ICT technologies like Cloud Computing, Big Data, Internet of Things, Mobile Broadband & SDN. Through the use of these technologies, the entire world becomes more connected and productive. This will impact consumers, businesses and enterprises and make the planet more efficient and more social.

What does this mean? How will the world be improved by more connectivity and increased use of new ICT technologies?

Here are 10 ways I see the New ICT being an integral part of moving towards to a more connected world.

        • Data shared between your assets and your bank.

          The complex process of comparing prices, choosing a vendor and paying for the service or product will become much simpler. When your car breaks down on the side of the road, your bank will provide price and service comparison for the nearest auto mechanics. Once you choose, payment will be processed directly from the bank with just a few clicks of a button. All these changes are made possible by more adopted use of Cloud Computing where banking services are being reshaped by customer’s data and their omni-channel banking services are becoming more agile.

        • Data from sports and entertainment events streamed anywhere

          Borussia Dortmund has the largest football stadium in Germany, a temple to soccer, that maintains a very high average attendance of some 80,000 fans (a Bundesliga record). To better connect the team with the fans, Dortmund has deployed stadium-wide Wi-Fi coverage of a sellout capacity, making for an unprecedented smart stadium experience. This Agile Stadium was built to redefine the stadium experience for 80,000 screaming football fans,  with real time sharing, in-game questionnaires, instant replay, ticket purchase, and even  geolocation/direction all included. Not only does this enable a quantum leap in terms of the fan experience, it brings whole new business opportunities for the club and the stadium.

        • Data flow between homes and food suppliers.

          The Internet of Things has the potential to connect us all. Sensors, trackers and monitors collect data for us to work more efficiently. Elion Resources Group in China has established a brand new production model by using the Internet to connect its meadows and consumers and to collaborate with various industries. For the first time the IoT enables live checking of the complete stock breeding process. Via the system, consumers can choose a particular type of livestock, check their growth and choose the delivery service on the e-commerce platform, enjoying a personalized consumption model.

        • Lines blurred between one industry and the next.

          When everything is inter-connected, the various industries will become deliverers of solutions. Businesses will focus on taking away the consumer’s pain and will cooperate with businesses in other industries to do that most effectively.

        • Lines blurred between hardware and software.

          In a truly connected world, the difference between hardware and software is no longer important. The focus is on methods of communication, whether these are accomplished by a certain device or in the cloud.

        • Businesses will use big data to gain deeper insights.

          Big data has already made its way into the business strategy of large enterprises. The more data is available, the more businesses can understand their consumers and the better they can serve them. Like China Merchant Bank, the data analysis capabilities have always been a decisive factor in the growth and competition of the banking industry. It develops a variety of innovative services, improves its service accuracy, real-time performance and customer satisfaction. Now its online historical detail function supports queries for of the previous seven years, compared with one-year data queries in the past. The potential customer forecast for small and micro credit improves the conversion rate by 40 times. The error rate of contingent financial asset forecast is reduced by half. Effective purchase customers can be covered by less than 20% of the original amount of recommendation texts. The credit investigation duration for credit cards is reduced from two weeks to less than 10 minutes.

        • Lines blurred between customers and partners.

          Connectedness means that customers are not simply end-users with minimal contact. Instead, they become partners in improving your business. They communicate their needs and tell you how to fulfill them.

        • Collaboration, speed and efficiency will become the norm.

          Time is a precious commodity and yet, we waste so much of it just gathering information or acting on estimates instead of facts. A world in which data is freely available necessarily enhances efficiency and escalates the speed at which things are accomplished. We will no longer be surprised at efficiency; instead we will be astonished when we are on the receiving end of slow or inept customer service.

        • Open platform and sustainable ecosystem.

          We’re already living in an age where open-source platforms are beating out propriety technology. The ecosystem of a smart phone is an example. This phenomenon is becoming even more widespread. For example, ICT infrastructure and platform today are now more open. Vertical industry solutions could be built and replicated more quickly, easily and globally.

        • Real-time, online, on-demand and DIY services.

          Consumers will take back their power. They will be able to purchase what they want when they want it, wherever they are. Customers will spend less time on each purchasing decision, leaving them more leisure to buy more. And this superior user experience can be summarized by several words. First, “real-time” – users will enjoy zero-wait time enabled by sufficient bandwidth. Second, “on-demand” – users will be able to freely use whatever services they want. Third, “all-online” – devices will be online all the time. Fourth, “DIY” – users will be able to tailor their services, apps, and network requirements. Fifth, “social” – social networks are part of life. Together, these words spell “ROADS”. The ROADS concept represents “open roads” and is the direction that industries will take during their Internet transformations.

The benefits of new ICT are undeniable. Can we integrate it into our near-future? Chinese Tech leader Huawei, has made a fully connected world an integral part of the corporate vision.

Mr. Yan Lida, President of Enterprise Business Group, Huawei speaking at the CeBIT 2016 Global Conference said: “A cloud-pipe-device integrated new ICT architecture is emerging to help enterprises accelerate digital transformation.”

Based on technology innovation, Huawei says it aspires to build a sustainable and win-win ecosystem by developing an open, flexible and elastic platform so as to jointly innovate with partners to create value for governments and enterprises across industry sectors, helping them lead the new ICT age and build a better connected world.”

The development of new ICT technologies is definitely an exciting leap forward in the right direction. Seeing how companies such as Huawei further develop the concept of connectedness and bring people closer together, will certainly be interesting. In my opinion, these technologies will humanize businesses, including the largest enterprises. The key will be the close partnerships that will be developed with consumers, the insights gained about their customer base and then translating all of this date into creating enhanced experiences. By optimizing this relationship with data driven decisions, these companies will be able to break down barriers between the “regular people” and big business. This new, smarter, digital age is making positive inroads in bridging the corporate/ customer divide.

Exciting times.

Here’s a video about a connected world that may make things a bit clearer.

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