Of all the findings in this year's 50 Most Innovative Companies report, BCG Senior Partner, Michael Ringel, sees the rise of digital as the most noteworthy. #50MostInnovative https://lnkd.in/gakrPve
The pace at which digital technologies are disrupting the world is phenomenal. A few years back, we did not have chatbots so prevalent in India. But today, almost every fintech app features a chatbot. Similarly, the rise of robo-advisors has been remarkable. There are various othe domains apart from fintech that have benefitted from the digital disruption. But it does not necessrily mean that the existing businesses have to just wait for their demise. Rather, they are the ones who can ride the wave the best. One survey by Vocalink showed that consumers usually expect the existing brands to roll out new features using the latest digital technology. Though they welcome disruptors, they also generally have expectations from the existing businesses and can stay as loyal customers with old brands too. This is exactly where the strong innovators take the lead and surge ahead of weak innovators. The pace at which digital disruption is happening will certainly leave room only for the strong innovators.
Great insights, good learnings, thanks Michael.
Agree with these observations. The Innovators who thrive in this digital transformation recognize that it is not only about new business, but a new way for doing old business.
Elisabetta great insights that could prove beneficial to our Major choice!
Zeeshan Ali
6y
Data is the new Gold, no doubt about it. But let's not forget the Goldsmith. In the video Michael pointed out a very interesting fact that 5 year back and today we have a huge pshycological shift where we are finally accepting the importance of big data over product development. Impact is such that we are beginning to product development for big data (which is huge shift of mindset) But in the storm of big data(Gold), let's not forget the implications of AI/ML(Goldsmith) which will have on our society 10-15 year down the line. It's just a hint for our future society
And how is it that the most noteworthy is not the unfairness in wages paid to employees ? Why is everyone preoccupied with everything except the most important matters ?
This trend is set to accelerate as firms face growing pressure to reduce costs of the back office and look to digitise Finance in the Cloud. Modern finance platforms like WorkDay, Legerity, Oracle Fusion and SAP4/Hana are key enablers to this transformation. Legerity FastPost also offers IFRS17 IFRS9 IFRS16 and IFRS15 Compliance solutions.
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4ySoibam Sanahal Singh