Digital transformation

Share to Twitter Share to Linkedin The auto industry is leading major sectors of manufacturing that are embracing digital transformation for their own reasons and at different paces. The global automotive sector has become the biggest spender on digital transformation, ABI’s latest study found, forecasting that the industry will invest nearly $100 billion this year and more than $238 billion annually by 2030 in its transformation to electric vehicles from internal-combustion powertrains. Automakers need software to design new types of vehicles and work with Tier One parts suppliers to assure performance requirements and the demands of mass customization, while the OEMS will need to transition production to the new types of vehicles without harming production volumes, ABI said. Meanwhile, automakers are bringing some best practices to bear that have become common across manufacturing as they sink hundreds of billions of dollars into their operations in … [Read more...] about Auto Industry Leads In Digital Transformation Investments

Share to Twitter Share to Linkedin Jackie Shoback is co-founder and managing director of 1414 Ventures, an early stage venture capital fund focused on digital identity. The digital identity market has experienced accelerated growth and major transformation in recent years. This is the result of the increase in digitization, the proliferation of more virtualized business models and increasing requirements around privacy and security, coupled with reduced friction and more operational efficiency. The digital identity market, as defined by my company, 1414 Ventures, is comprised of 50 subsectors, and it has a valuation of $663.9 billion, up 8.5% from a valuation of $612 billion in 2021, and is projected to cross $1 trillion by 2024 according to our calculations. The digital identity market's growth is not a surprise given the key dynamic market drivers in the industry. The sharp increase in identity fraud (costing $43 billion in 2020) and … [Read more...] about Four Key Drivers Of The Digital Identity Market’s Growth

Share to Twitter Share to Linkedin Swedish start-up ClimateView has released an ‘Impact Intelligence’ upgrade to its SaaS platform ClimateOS, in order to help planners unlock crucial funds for city decarbonization and net zero transition. Effectively it provides a digital twin for a city, enabling planners to effectively model the impact of planning and investment decisions. Cities are one of the key levers for action on climate change, sitting as they do at a pivotal point between national policymaking and local action. The numbers are well known, in terms of their importance. Urbanization continues to be a macro trend, with roughly half the world’s population living in cities and already connected to over 70% of the world’s CO2 emissions . By 2050 cities are expected to be home to around 70% of the global population and decoupling that growth from emissions is a major challenge, one that will take significant investment to overcome. Catharina … [Read more...] about Digital Twins: Solving The City Climate Funding Gap

Share to Twitter Share to Linkedin Martin Birch, CEO and president of ibml , has 20 years of experience as a global leader in the intelligent information management industry. We’ve all read the headlines touting the benefits of digitizing your business. But it’s time to set aside the hype and talk about what is really going on in our organizations. Companies are, by and large, in the early stages of becoming truly digital. Digitization includes fully adopting artificial intelligence (AI) and machine learning, investing in tech, and converting all existing information into digital formats. Over the last few years, the pandemic drove significant change that inspired businesses to begin their digital transformations. This had to happen to support the new remote workforce, and IT departments particularly felt the brunt of this change. Many other IT projects were pushed to the back burner, so IT teams could focus all of their effort on transforming … [Read more...] about AI Is Powerless Without HI: Why Human Intelligence Is Irreplaceable

Share to Twitter Share to Linkedin Jakob Rost, CEO, Ayoconnect . According to the World Bank, financial inclusion is one of the main ways to monitor progress in reducing social inequality, the global spread of economic well-being and related issues, such as gender equality. The Washington-based institution provides statistics on the issue via its Global Findex Database every three years. The latest edition reports 76% of adults globally to have an account at a bank, other financial institution or with a mobile money provider—up from 68% in 2017 and 51% in 2011. Around the world, however, there are discrepancies from country to country. In the U.S., 94.95% of people 15 or older have an account, while the figure is 51.76% and growing in Indonesia, fueled by one of the most dynamic economies in the world. Is fintech helping to improve financial inclusion? In short, yes. A recent study by the Cambridge Centre of Alternative … [Read more...] about How Fintech Impacts Financial Inclusivity

Share to Twitter Share to Linkedin Carmen Ene is CEO at 3stepIT and BNP Paribas 3 Step IT, Europe's leading circular Technology Lifecycle Management providers. In 2015, world leaders reached a historic consensus, agreeing to 17 global goals to tackle some of the world’s biggest challenges like climate change, world hunger, poverty and human rights abuses. The deadline they set was 2030. In 2022, we are at the critical halfway point and have made some progress, but we need to do much more. There’s still a $4.3 trillion annual gap in financing for the UN Sustainable Development Goals (SDGs). And there’s also a clear knowledge gap, as a recent survey found less than two in ten British businesses are aware of the SDGs—a critical miss at the most critical time. Nice To Have, Need To Have However, the days of blaming a lack of awareness will soon be over. While the SDGs are often criticized for being too broad and vague, it’s clear the … [Read more...] about The Forgotten Power Of The SDGs For Sustainable Business Operations

Share to Twitter Share to Linkedin Alexei Dulub is the founder and CEO of PixelPlex , an R&D company powering meaningful digital transformation across industries. In the aftermath of global crises and unfavorable macroeconomic factors, businesses have struggled to stay afloat and retain their existing customer base. Loyalty programs can be viewed as a viable solution to this issue. According to the State of Brand Loyalty 2021 poll, 83% of respondents admit that loyalty programs influence their decision to stay with a brand. Our team has seen how our clients and partners have been enthusiastic about producing top-notch, human-centered loyalty solutions that would provide their consumers with extraordinary experiences. The past and, unfortunately, present global challenges have prompted decision-makers to do a full 180 and perform more thorough research into their target audience’s needs, requirements and preferences to roll out … [Read more...] about How To Drive Customer Loyalty With Tech In The Post-Crisis Era

Share to Twitter Share to Linkedin “It wasn’t just the buffet lunches.” For Russell Miller, Director of Learning Solutions and Innovation at Imperial College Business School, the return in demand for on-campus executive training isn’t all that surprising. “People have undoubtedly missed the relationship-building and networking elements of in-person learning of the past few years, and so this is quite probably the key driver of the resurgence we’re witnessing.” The COVID-19 pandemic saw numbers for Imperial’s virtual courses overtaking on-campus executive courses, with virtual participation in 2020-21 reaching record levels. But the 2021-22 academic year has seen a sharp spike in demand for face-to-face Executive Education, from a wide range of programs including Finance, Innovation, Leadership, Strategy, and Health. While Miller acknowledges that a revival in the appetite for traditional Exec Ed – on-campus, in-person teaching – was inevitable, … [Read more...] about Online Or Back On Campus – How Business Schools Are Offering The Best Of Both Worlds

Share to Twitter Share to Linkedin Automotive strategists once talked about the evolution of all-electric vehicles (EVs) and completely autonomous vehicles (AVs) as tied firmly to one another. But Jim Farley has decided Ford can proceed with its transformation to an EV company without also trying to make sure no human has to drive its new vehicles. “Things have changed,” Farley said in a Ford statement that accompanied the company’s third-quarter writeoff of $2.7 billion after deep-sixing its investment in Argo AI. “Profitable, fully autonomous vehicles at scale are a long way off and we don’t necessarily have to create the technology ourselves.” That’s the exact opposite vision as the one cast by a Farley predecessor, Mark Fields, in 2016, when the then-CEO said, “Ford is going to be mass-producing vehicles with full autonomy in five years.” Fields was broomed out and was followed as Ford chief by Jim Hackett, who harbored similar visions. Now, Ford … [Read more...] about Ford May Be On To Something In Deferring Level 5 Autonomy

Share to Twitter Share to Linkedin A cream-colored scoop of ugali ( oo-gali ) maize porridge sits in my plate— a round, stiff ball— its circumference saturated by a colorful mélange of greens and tomatoes, and a perfect pink snapper, staring at me with one intact eye. I feel a twinge of nostalgia creep up on me in this eastern Kenyan town, more than 10,000 kilometers from home. Ugali reminds me of cou cou , the national dish of Barbados— my native country— and my Romanian father’s mamaliga that he’d boil into a lumpy mixture with milk. But although ugali shares some basic ingredients with other versions of maize porridge enjoyed around the world, its elevated meaning to the Kenyan people makes it truly distinct. Ugali is not a side dish like mashed potatoes or rice— it is a cultural phenomenon— and it’s so much more than just food. Songa ugali Eh | Foundation weka ya samaki | Ni katikati ya January | Kula ukashirishe kamati… Cook ugali … [Read more...] about Small Businesses Provide A Scoop Of Hope In Kenya, The Land Of Ugali