Don’t focus so much on the technology, but rather on the problems you’re trying to solve. What you’re trying to accomplish matters more than the tech you use.
When businesses figure out their strategy, most start with value and then set their goals, benchmarking financial and product targets, instead of first focusing on values. Our panelist’s see a new world arising where companies have to lead with their hearts, and move from values to principles, visions, goals, strategies, tactics, metrics, and then, and only then, to value creation.
Despite launching with optimism and hope, about 70% of all digital transformation initiatives fail. Why? In our work with Fortune 2000 business leaders, five red flags typically emerge early on. They’re consistent, regardless of industry or geography. How and when your organization addresses these signs of trouble will determine whether your digital projects succeed or derail.
A year ago, “becoming digital” was seen by many as a desirable elective, but now — in our new world — it’s mandatory. The most common questions from business leaders from every industry and region have been: “I get the theory, but where do I start? What specific steps can I take today to ensure a healthy tomorrow?” These eight critical tactics will help.
During the pandemic, data’s centrality became decisively more apparent. Having your finger on the pulse of data turned out to be critical for adapting quickly in a rapidly and radically changing environment. But not many companies were good at that. Too many struggled because they didn’t understand what data matters.
As we enter a new and hopefully final stage of the pandemic, there’s plenty of uncertainty mixed in with the overall hope. Amid the unknowns, however, one thing is sure: artificial intelligence will play a major role in whatever the next years may bring.
The global pandemic has resulted in a dramatic increase in product engineering investments, as brands and enterprises look to quickly transform legacy systems and technology. Companies also are designing and building new software and products to engage directly with consumers and employees who were in their homes, digitally, and most importantly, on their terms.
While companies grasp the importance of experience, few are addressing it in holistic fashion. In a recent study, Forrester and Cognizant found that while 95% of respondents believe improving customer experience is either important or very important, only 18% are prioritizing and investing in it enough to be getting real business results.
Digitizing and thus improving the pillars of what we can all agree would make a better society – healthcare, banking, insurance, education, and government – is a key way to reconcile what might otherwise seem to be the contradictions between stakeholder capitalism and shareholder capitalism.
For businesses to become truly data-driven — as most are striving to do — they might be better off starting not on the supply side of the equation (grocery shopping) but with the question of demand: making dinner.
We live in an exciting time, when digital products and services are transforming industries, business models and jobs. There’s the uber-ization of everything from home automation to personalized medicine, and the blurring boundaries of digital and physical channels. Numerous industries are going through a period of mass disruption.
In the near future artificial intelligence is going to be as fundamental for business success as cloud is becoming to running a company’s information technology. After many years of gradual growth, we’re now finally seeing cloud take off. And AI is where cloud was five years ago. People are realizing there’s value here, and business leaders see that AI can help them fundamentally change how their company works, how they get work done, and how they serve customers.
Software today must be innovative, and it must be developed with agility. But often, when software is handed over to the end consumer, or just before that, testers or end users find malfunctions, or that the code does not serve the purpose. This is true for both business and consumer applications.
Techonomy’s David Kirkpatrick moderated the session, with Cognizant’s Ursula Morgenstern and Rajesh Nambiar and the event’s host, Cognizant Softvision’s Andres Angelani.
To recapture business lost to the pandemic, leading brands will need to focus not just on filling airline seats and hotel rooms but also on the entire experience ecosystem, which encompasses travelers, employees and business partners.
The healthcare industry is rapidly being recontoured by the forces of digital innovation, new industry regulations and growing consumer expectations for better healthcare experiences. From our observations, healthcare payers and providers increasingly have both the technology tools and the regulatory incentives to overcome the industry’s traditionally adversarial silos and barriers.
Many healthcare organizations we work with have set their sights on delivering holistic, frictionless customer journeys that span the boundaries between payers and providers and seamlessly blend physical and digital experiences. This vision stands in stark contrast to the disjointed, fragmented and inefficient processes that characterize today’s healthcare industry.
What is good today may not be relevant tomorrow, and a new service or product line today could be cannibalized by something much better depending on what comes next. But brands must do more than just keep up. They must rethink how they operate to better anticipate consumer needs.
At the Health+Wealth of America conference on Thursday, industry experts Sarah Kirshbaum Levy, CEO of Betterment, and Kevin Pleiter, managing director of capital markets at Cognizant, sat down with Worth to discuss the ways in which fintech will continue to permeate and improve the financial sector at every level.