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Emerging Technologies in The Healthcare Sector

Posted by Anna Mielczarek on 15-Nov-2018 07:30:00

‘Consumers around the world are ready to embrace AI and robotics for their healthcare needs’ says Dennis Brown from PwC.

According to PwC research more than half of customers (54%) are willing to engage with Artificial Intelligence (AI) and robotics for their healthcare needs. Easier and quicker accessibility (34%) as well as faster and more accuracy (31%) are seen as the main advantages of using new technology in the healthcare, while ‘human touch’ (47%) and trust (38%) are the biggest challenges.  

As the healthcare industry is experiencing its most rapid pace of change and innovation, it comes as no surprise that people are finally ready to embrace emerging technologies, which, undoubtedly, have the potential to transform the healthcare, and make it faster, better, more accurate and accessible than ever.

But what are the emerging technologies and how exactly can they change, and improve the healthcare sector?

Let’s find out now!

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Topics: Emerging Trends, Emerging Technology, AI, AR and VR, Healthcare

Lloyds Bank Invests in New Digital Banking Platform

Posted by Anna Mielczarek on 13-Nov-2018 07:30:00

On Tuesday, the 6th of November Lloyds Banking Group announced that it had invested in a FinTech company as a part of digital shake-up aimed at enhancing the bank’s digital presence.

A £3bn transformation and technology investment programme includes the investment of £11m for a 10 % stake in cloud-based core banking start-up Thought Machine, which focuses on building technology to revolutionise current online banking system.

Thought Machine’s core product, Vault is able to run any type of banking product. It aims to simplify outdated online systems while providing customers with maximum security and reliability.

However, that’s not all – Lloyds Bank plans to cut 6,240 jobs whilecreating 8,240 new digital positions as part of its huge shift towards Digital Transformation.

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Topics: Digital Transformation, Challenges, Change and Innovation, Finance

7 Barriers to Digital Transformation

Posted by Anna Mielczarek on 08-Nov-2018 07:30:00

Every business today is undergoing some kind of transformation. Emerging technologies; increasing demands of the customers regarding their relationship and experience delivered by companies; pressure to change and innovate, enterprise mobility – all these factors make firms realise that they cannot carry on for much longer without implementing Digital Transformation into their business, and changing their operating models.

But of course, just like any other change or transformation, even when necessary, implementing Digital Transformation enterprises will face certain challenges and barriers in their digital efforts.

From a plethora of potential barriers to Digital Transformation, whether small or big, we’ve chosen the top 7 you should definitely know about.

Have a read and see if you can recognise any of them in your business.

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Topics: Digital Transformation, Challenges, Change and Innovation

Digitalisation Will Make Most Banks Irrelevant by 2030 - Gartner

Posted by Anna Mielczarek on 06-Nov-2018 07:30:00

Traditional banks and insurance companies are facing extinction in the next 12 years due to increased digitisation in the financial services sector. 80 percent of traditional banks and financial services firms will be made irrelevant by 2030, and only 20 percent of traditional financial firms will remain as ‘winners’ according to a new research by Gartner.

These findings were presented to the audience on the 29th of October at Gartner Symposium/ITxpo 2018 on the Gold Coast, Australia by David Furlonger, vice president and distinguished analyst at Gartner.

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Topics: Digital Transformation, Challenges, Change and Innovation, Finance

Building Your Digital Dream Team

Posted by Anna Mielczarek on 01-Nov-2018 07:30:00

Digital Transformation has become a buzzword lately. A lot has been said about the positive impact of digital changes on firms. And no one is surprised that Digital Transformation is the key to the great success and longevity for many businesses. In our previous articles, we addressed some of the crucial aspects of implementing a successful Digital Transformation, ranging from key success factors and success stories, common mistakes to avoid, to how Digital Transformation is impacting different industries such as finance or retail.

Do you remember our 4 Steps to Digital Transformation? You need to empower your people! But what kind of people? In order to successfully implement Digital Transformation, you need to build a team that is going to support you all the way there.

In this article, you will find out how to build your Digital Dream Team, because the right team will have as much impact on your success as any of the other elements.

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Topics: Digital Transformation, Challenges, Leadership, People, Success

Going Digital Creates New Risks in The Financial Sector

Posted by Anna Mielczarek on 30-Oct-2018 07:30:00

The massive global movement of companies going digital is continually forcing essential changes in what new products and services are created, and how they are delivered to financial services customers.  The position of well-established, traditional banks is changing dramatically due to the emergence of new start-ups companies, and new business and operating models they use and promote.

In its recent paper ‘Moving from analog to digital: a new paradigm for risk management.’ EY states that industry transformation is afoot on an unprecedented scale.

Demographic change; radical new technologies and data usage; a changing regulatory paradigm; and a fast-changing and ever-more-complex ecosystem of competitors, partners and vendors are all listed as key trends that are supporting Digital Transformation. And although, they do force the necessary changes and provide firms with new opportunities, there are also associated with an uncertainty.

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Topics: Digital Transformation, Emerging Technology, Challenges, Finance, Risk Management

Digital Transformation of IKEA: Innovation Lab, Smart Home Products and Self-driving Cars

Posted by Anna Mielczarek on 25-Oct-2018 07:30:00

Digital Transformation is everywhere. Every industry and every business will need to, sooner or later, transform itself digitally. And IKEA is no exception. You might think that a major retail brand like IKEA won’t have to worry about it, but the truth is that in order to stay relevant in the industry IKEA must implement some pretty big changes to its operating model.

‘When you look at the changes Swedish furniture giant IKEA is implementing in its operations, it’s clear that they aren’t satisfied with the status quo,’ writes Bernard Marr in his case study of IKEA’s Digital Transformation.

So, what are some of the savvy moves IKEA has been taking to transform itself digitally, and do they mean that Swedish retail giant is slowly becoming a tech company like stated by Marr?

Let’s find out!

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Topics: Digital Transformation, Emerging Technology, Emerging Trends, Success, retail, General Tech News

Are Banks Still Not Ready for Digital Transformation?

Posted by Anna Mielczarek on 23-Oct-2018 07:30:00

Digital Transformation can be a real challenge for the financial sector. In the past few years a great majority of well-established, traditional banks have tried to become more digital in order to address the emergence of new challenger banks that have been slowly taking away their customers. But unfortunately, many projects end in failure as financial institutions have a hard time getting real results. Most banks are focusing on polishing the front end so much that they almost seem to forget that it must be supported by back end as well. And this approach results in crushing systems which leave customers unable to log into their bank accounts.

So, what are some of the examples of banks not being fully prepared for digital changes they have implemented?

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Topics: Digital Transformation, Emerging Technology, Finance, Challenges

Artificial Intelligence in the Banking Sector

Posted by Anna Mielczarek on 18-Oct-2018 07:30:00

The pace at which companies are investing in artificial intelligence (AI) continues to gain momentum and the financial sector is no exception. In fact, according to Business Insider report ‘AI is one of the most commonly referenced terms by financial institutions (FIs) and payments firms when describing their vision for the future banking sector as it can be applied to almost every area of financial services.’

But that’s not all! As stated by global management consultancy Accenture, banks that invest in AI and human-machine collaboration tools could boost their revenue by over a third (34%) by 2022.

Moreover, AI is considered one of the most important disruptive technologies for today’s banks, as a recent PwC survey revealed that 72% of senior management see AI and machine learning (ML) as key sources of competitive advantage. The same survey also highlighted that 52% of firms in the financial services sector are already making substantial commitments to AI, with 66% projecting significant investments by 2020.

So, it seems that these numbers speak for themselves – when it comes to financial services AI is a must!

But how exactly AI can help banks improve their operations and bring them closer to their customers?

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Topics: Digital Transformation, Emerging Technology, artificial intelligence, Finance, AI

How Digital Transformation Can Help You Improve Customer Engagement

Posted by Anna Mielczarek on 16-Oct-2018 07:30:00

Over the past several years, a great majority of organisations have been focusing their efforts on deploying Digital Transformation into their businesses. Nowadays, there is a growing need for digital innovation that can bring a company closer to becoming a digital enterprise. And only new technologies have the power to enable companies to create more agile environment, become more flexible, scalable, while also delivering a seamless and consistent customer experience across channels.  

But while Digital Transformation can indeed help businesses achieve all that, for many, it may seem that this movement towards world run by technology and automation would make brands more distant from the consumers, instead of connecting with them more personally.

However, it is not true, and in fact, if implemented successfully, Digital Transformation is more than likely to help companies improve customer engagement.

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Topics: Digital Transformation, Emerging Trends, retail, Emerging Technology, General Tech News, Engagement