5G promises a new era of digital transformation globally. It improves on previous 4G networks, especially in highly-dense areas like malls/stadiums or mobile and dynamic situations by providing continuity, higher data rate, lower latency and a high number of simultaneous connections. As a result, companies are embracing high-speed 5G as a key enabler of their digital transformation journey and are also looking to monetize their investments. This digital transformation will help unify and streamline enterprise assets — healthcare devices, vehicles, factory equipment, etc. 5G is also a key driver for IoT applications by enabling the ability to connect to a large number of devices with more stringent energy and transmission constraints. And there is a correlation between 5G and other new digital technologies like AI, big data, machine learning, IoT, cloud computing, edge computing, blockchain, virtual reality, augmented reality, etc. New business models As a result, we believe that the deployment of 5G networks and its integration with new technologies are expected to create new business models, accelerate digitalization and generate new revenue streams across a wide range of industries. Below are some of the key B2B, B2C, and B2X opportunities: B2B (Business-to-Business) models: Network infrastructure providers: Companies that […]

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Linn Storäng, Regional Director Northern Europe at Axis Communications, considers the importance of modern network cameras in supporting digital transformation by improving processes and unlocking new possibilities. Linn Storäng, Regional Director Northern Europe at Axis Communications Network cameras have revolutionised the physical security industry. When the first network camera was developed many years ago, the full capabilities and potential it afforded could scarcely have been imagined. Yet today, network cameras are utilised across every industry and sector, both indoors and outdoors, in all weathers, with advanced analytics and artificial intelligence (AI) allowing them to perform ever more complex tasks and fully support security teams. Now, due to their vast potential, cameras, acting as sensors, are being incorporated into tailor-made smart applications that are designed to solve specific industry problems with no related security factor. Not only are businesses able to offer their customers a comprehensive security solution, but also a powerful business intelligence tool, combining camera visuals, analytics and artificial intelligence (AI) to streamline and optimise processes across industry. As one industry analyst explained : “Video sensors are forming an internet of video things; IoVT platforms are geared to deal with the specialist requirements of video sensors, managing video […]

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As the demand for business resiliency increases, the need to create new digital products and services is becoming increasingly pertinent. Today’s companies can no longer afford to rely on the same traditional business models for success and must begin to think about what their future business models should look like. IDC’s recent report Worldwide Services 2023 Predictions – APeJ Implications , outlines the expectation that by 2026, 40% of service providers’ revenues will be derived from digital business models and products/services. This highlights the importance of preparing for the future by developing innovative solutions that address customer needs, preferences, and behaviors. With economic expectations in the APeJ region remaining moderately pessimistic, companies should prioritize long-term investments that will enable them to stay competitive. This means identifying future trends and opportunities, tracking emerging technologies (e.g., AI, IoT, etc.), and leveraging solution-oriented IT services for digital transformation projects that can future-proof their business. Key findings According to IDC, IT spending plans in APeJ are expected to remain stable throughout 2022 as companies continue investing in digital readiness. IT projects will renew their focus to continue contributing to organizations’ digital business agenda by engaging with competent IT services vendors for closely tracked […]

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The COVID pandemic of the last couple of years significantly accelerated the pace of digital transformation in many sectors of the economy and society. Nowhere was this more apparent than in the banking sector. According to McKinsey1, banking is now the most digital industry with a 77 percent adoption rate among European consumers. Twenty-three percent of customers moved to digital banking during the past two years of COVID. Unlike some other sectors, this shift appears to be permanent – the same McKinsey research suggests that 82% of digital customers intend to continue using digital channels. Consolidate or Expand? The question banks face in 2023 is how do they capitalise on this opportunity? Faced with the headwinds of cost of living, inflation and energy crises, the temptation is to ‘bank’ gains, ‘batten down the hatches’ and ride out the storm. Many could be forgiven for pausing digital transformation to concentrate on cutting costs and prepare for the inevitable increase in defaults and other financial stresses from customers in retail and commercial banking. Yet to do so would miss a significant opportunity to further extend progress on digital transformation. Those that embrace the opportunity will find that it delivers not only […]

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The Insight Partners The global digital transformation market size to grow at a CAGR of 22.5% from 2022 to 2028, it is expected to grow from USD 725.62 billion in 2022 to USD 1,650 billion by 2028. New York, Feb. 20, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “ Digital Transformation Market Size, Share, Growth and Trends Forecast to 2028 – COVID-19 Impact and Global Analysis by Components (Solution and Services), Deployment Type (Cloud and On-Premise), and End-User (BFSI, Healthcare, Education, Retail, IT & Telecom, Logistics & Transportation, Manufacturing, and Others)” the global digital transformation market growth is driven by the adoption of digital and smart technologies and the emergence of artificial intelligence (AI) across diversified industries. North America led the market with the largest share in 2022. Global Digital Transformation Market – Report Scope: Market Size Value in USD 725.62 Billion in 2022 Market Size Value by USD 1650 Billion by 2028 Growth rate CAGR of 22.5% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022 No. of Pages 170 No. of Tables 27 No. of Charts & Figures 88 Historical data available Yes Segments covered Components; Deployment Type; and End-User Regional scope North America, […]

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Name: Vishal Gupta Company: Lexmark International Job title: Global CTO & CIO, SVP Connected Technology Date started current role: February 2021 Location: Washington, D.C. Vishal Gupta is senior vice president and chief information and technology officer for Lexmark International . He leads global information technology, software development, data science, corporate strategy and Lexmark Ventures in a unified Connected Technology and Ventures team responsible for making connections — between customers, employees, products and strategy. Gupta joined Lexmark as CITO in February 2021. Prior to Lexmark, Gupta was global chief technology officer and senior vice president of Products and Platforms for Unisys Corporation, where he led a team of more than 1,500 engineers and drove innovation through emerging technologies like cloud and AI. Gupta is a member of the Forbes Technology Council, Wall Street Journal CIO council and founding board member of WashingtonExec CTO council. He is frequently quoted in the media as a technology expert. What was your first job? My first job was that of a management consultant, after I had finished my master’s at Dartmouth College. I was lucky to have four job offers, and I picked the management consulting role since I wanted to learn about strategy […]

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David’s Bridal has transformed digital bridal shopping. getty The bridal industry is steeped in tradition. But modern brides require a modern, digital customer experience. As the bridal world evolves, industry leader David’s Bridal knew it needed to transform to meet customers where they were. Chief Merchandising Officer Nancy Viall put it this way : “A key focus for us this year has been on reimagining our brand architecture and exploring niche opportunities to expand our product offering to our customers.” Instead of only selling wedding dresses, David’s Bridal aims to meet customers earlier in the planning process and expand to better meet brides’ needs. Online and App Planning Tools Today’s brides plan their weddings online by browsing Pinterest and social media before setting foot in a store. David’s Bridal created a digital experience to be with customers every step of the journey. David’s Bridal unveiled a host of digital wedding planning tools like apps with checklists and virtual vision boards that brides can create and share with family and friends. The brand also rolled out virtual styling services where brides create and share a mood board and invite their family and bridesmaids to the Zoom session to create a […]

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The financial industry’s accelerating digital transformation has culminated in the adoption of new technologies and processes by financial services firms to remain competitive and meet clients’ evolving expectations. Yet, when it comes to building client relationships, there is a real risk of overreliance on digitalization, which can — and often does — result in adverse effects. Human, personalized, face-to-face interactions are still needed to create a healthy and strong bond with clients. Even in the face of a rapidly evolving industry landscape, including digital transformation, financial services firms should not lose sight of the bigger picture and refocus on forging deep and meaningful client relationships. Owing to external developments, such as the COVID-19 pandemic, geopolitical instability and increasing regulatory and compliance obligations, financial services firms’ sales and marketing teams have, in recent years, been compelled to spend more time on tactical and non-revenue-generating activities, such as technological upgrades. This has stifled their focus on building deep and meaningful ties with clients, key to new and incremental revenue generation. Nonetheless, financial services firms can refocus by emphasizing more personal interactions in three areas: client meetings, marketing communications and customer service.

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Only 45% of software projects deliver or exceed their expected return on investment (ROI), according to a new survey of CIOs from digital adoption platform Userlane and consultancy PwC . With the average spend on new software projects exceeding £2,200,000, large businesses are losing upwards of £6,000,000 annually. Although almost two thirds of CIOs (65%) are concerned that the state of the economy will affect their digital transformation plans, 62% still intend to deepen their investment in technology over the next 12 months. Cost increases are anticipated across cloud-based software (61%), on-premises software (54%) and software training for employees (54%). Furthermore, the survey of 250 CIOs and IT leaders at large UK-based companies reveals that software ROI is most frequently measured in terms of productivity improvements (76%), new business generated (73%), streamlined processes (70%), a reduced need for hiring (70%), and higher customer satisfaction (69%). CIOs will face significant pressure to deliver RIO for software projects under the challenging economic circumstances, including supply-chain issues and talent shortages. Respondents consider their most significant areas of responsibility to be digital transformation (43%), followed by digital adoption (37%). Other key focus areas include business productivity (35%), employee experience (33%), and learning and […]

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PROLIM launches “Digital Innovation Center” at Hubballi, India Hubbballi / Bangalore, India / Plano, TX , Feb. 20, 2023 (GLOBE NEWSWIRE) — PROLIM announced today the opening of “ Digital Innovation Center (DIC) ” to bring business strategy and cutting-edge technology to build “Digital Transformation” platform and solutions. Located on PROLIM Campus at Aryabhata Technology Park in Hubballi, the Digital Innovation Center includes multi-domain Software Engineers, Architects, Application Engineers, Cloud Experts to build 3 verticals: Mendix Factory , PLM Factory and Cloud Factory – a set of tools, accelerators, apps and services that enable and accelerate customers to migrate to Cloud. PROLIM, a global leader in PLM, IT, IoT Solution provider, has evolved since it was founded in 2005. PROLIM has been helping organisations accomplish their business goals with strong Technology and R&D capabilities and has bagged several awards and recognitions. The company has been focused on product innovation by leveraging IT, IoT and PLM technologies. “ Being a global Siemens Digital Industries Platinum Partner, PROLIM experts will build Digital solutions on top of Siemens Xcelerator portfolio that includes software products Solid Edge, NX, Teamcenter, Siemens EDA and Mendix. As an AWS Select Consulting Partner and demonstrated expertise in […]

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