Cliche, but change is the only constant in this dynamic world. With rapidly changing technologies, rising customer expectations and competition coming in from new frontiers, C-suite executives have never had their hands more full.
With each passing day, the numbers of things which are being touched by this wave of digital disruption only grows in size and scope. From payment banks, to the way we shop, from meeting customer expectations to predicting the weather, this disruption is changing the fundamentals of how businesses are re-thinking their future. Fuelled by technologies such as Artificial Intelligence (AI), Cloud, Internet of Things (IoT) and Blockchain – this new era of digitization is producing data which is outpacing human capacity to understand the meaning and value hidden within data.
While the potential of what AI could do with data caught the attention of the world, another such technology which showed the promise of bringing in a great deal of disruption was IoT.
Today, we live in a world of interconnected devices. Wearable devices, environmental sensors, machinery in factories, components in a vehicle or devices in homes and buildings can all be connected to deliver insights and drive transformation. Can combining the power of AI to all the incoming data from a vast array of connected devices (IoT) help reach a new level of predictability and operational efficiency? How should businesses break through this clutter? To realize greater value and to radically transform their operating models – leaders are now integrating technologies which complement each other such as AI and IoT.
The answer to the above may also lie in a survey that was recently done by IBM’s Institute of Business Value called ‘Intelligent Connections: Reinventing enterprises with Intelligent IoT’.
Drawing conversations from more than 3,158 C-suite executives, a group of high-performing executives (called the Reinventors) understand that with the addition of AI, the full potential of IoT can be leveraged for business model reinvention. With AI, they expect to introduce new products, discover new opportunities, reduce risk and increase revenue.
Today, traditional methods of analyzing structured data aren’t designed to efficiently process the vast amounts of real-time data that streams from IoT devices. However, AI in combination with IoT has the potential to manage the both the scale and complexity.
Top achievers are already on the path to amplify their performance. They are capturing all forms of data from a variety of interconnected devices, using AI-based applications to curate that data to reach new levels of operational and financial proficiency.
IoT, working in tandem with AI, machine learning and blockchain technologies, are already set to transform verticals like healthcare, automotive, smart cities, insurance, financial services and retail, by helping stay ahead of the curve.
However the question still remains to many – can these converging technologies extend efficiency, speed and value across the enterprises? Will these times of disruption present both unique opportunities and challenges for organizations and their leaders?
Answering all of this and more would be IBM’s Chairman, President and CEO Ginni Rometty who will host the THINK Forum 2018. Scheduled to take place in Mumbai on Feb. 13 at the St. Regis Hotel, Ginni along with and other senior IBM leaders will share - how they are reacting to these disruptions and how IBM’s clients are taking advantage of new technologies to gain and become the disruptors.
Three engaging sessions will discuss how CEOs are addressing the challenge, the characteristics of the Cognitive Enterprise, and IBM’s Innovation Outlook, as well as a forward-looking view from IBM Research that supports the company’s investments. Other key speakers include industry veterans such as; Rajnish Kumar, Chairman, State Bank of India, Vishant Vora, Director – Technology, Vodafone India Ltd, Anup Purohit, Senior President and Chief Information Officer, YES Bank and Munish Mittal - Chief Information Officer, HDFC Bank to name a few.