3 Predictions for Corporate Innovation in 2019

first_imgFollow the Puck AI is Not the Holy Grail of Sales, at Least Not… Renee Johnson Never have enterprise firms had such a short shelf life. Innosight’s 2018 Corporate Longevity Forecast found that, if the current churn rate holds, fully half of S&P 500 companies will be replaced in the coming decade. Could half of the S&P 500 companies be replaced in the coming 10 years?While 80 percent of executives surveyed by Innosight said they “strongly” or “somewhat” agree that they need to transform, 55 percent of those same executives said they expect their competition to come from existing industry players rather than new competitors.Corporate leaders may be right on the first point, but they’re likely wrong on the second. One of the most significant threats to corporations is disruption from agile startups with a culture of experimentation and risk-taking. For example, Petsmart was forced to make the largest e-commerce acquisition to date in late 2017 when it was blindsided not by industry peer Petco, but by Chewy.com. Similarly, the entire ground transportation industry was turned upside down by ride-sharing companies Uber and Lyft, which have captured more than 70 percent of the U.S. business traveler market, according to a report by Certify.Petsmart and dozens of other enterprises learned the truth of corporate innovation the hard way: Companies that don’t look to the future will soon become part of the past.What’s Coming in Corporate InnovationThe news isn’t all bad for enterprise leaders, though. Three trends show corporate innovation is alive and well in 2019:Corporations will look beyond traditional R&D and toward partnerships.Over the past three decades, return on R&D spending has declined by two-thirds. As corporations see diminishing returns on internally focused innovation, they’re increasingly looking to external partners for innovation. Fortunately, one-on-one startup-corporate partnerships are no longer their only option. Although they take more effort, accelerators and semi-internal incubators are two emerging solutions. Mastercard’s Start Path program accepted 11 new startups last year, for instance, most of which were directly relevant to Mastercard’s own financial services. Others, like Google parent company Alphabet, are spinning off startups built by internal team members.The quickest, newest way to get an external perspective, however, is through corporate innovation consultants like Cie Digital. Chief operating officer Alvin Fong argues that it’s Cie’s experience with companies of multiple sizes spanning across different industries that sets it apart. “Startups and corporations come at innovation from two totally different perspectives,” explains Fong. “The best solution is often to find a partner who’s seen the subject from both sides of the fence.”Artificial intelligence will be a primary source of innovation.Although barely one-third of enterprises have adopted AI to date, according to Gartner’s 2019 CIO Survey, that’s changing rapidly. The research giant also found that the number of companies implementing one or more AI technologies has grown by 270 percent in the past four years. Chris Howard, distinguished research vice president at Gartner, suggested in a press release that corporate innovation around AI can’t wait for the right talent. “In order to stay ahead, CIOs need to be creative,” Howard explained. “If there is no AI talent available, another possibility is to invest in training programs for employees with backgrounds in statistics and data management.” What subfields of AI are the best bets for corporate innovation? Machine learning pilot programs doubled last year compared to the prior one, Deloitte data showed, and are expected to increase again by 2020. Particularly in the healthcare industry, natural language processing is a hotspot, growing to nearly $8 billion by 2022 from $667 million in 2016.Improving the customer experience will be a top priority. Even as brands invest more in technologies like AI, consumers are clamoring for more human customer experiences. A PwC report released last March showed that 75 percent of consumers want more social interaction in the future, while 64 percent think companies have lost touch with the human side of CX. What’s more, consumers say they’re willing to open their wallets for a better CX. “CMOs take note: Our research revealed that 65 percent of U.S. consumers find a positive brand experience to be more influential than great advertising,” David Clarke, PwC principle and experience consulting leader, said in a press release. “Our findings quantify the potential ROI on experience investments, upwards of 16%.”While AI has a role to play in all types of corporate innovation, many of the best CX changes brands can make are low-tech. Respondents to the PwC survey said fast and efficient service, knowledgeable and helpful employees, and convenience is their top three CX priorities. For today’s companies, corporate innovation is literally a life-or-death choice. This past decade is proof that their scale, history, and expertise aren’t enough to keep smaller peers from surpassing them. Without an eye on the customer experience, investments in AI technologies, and the right partnerships, 2019 might be a brutal year. What it Takes to Build a Highly Secure FinTech … Related Posts Why IoT Apps are Eating Device Interfaces Tags:#agile corporations#AI#artificial intelligence#corporate innovation#Partnerships I’m a freelance writer and mother living in the Bay Area. I write about parenting, tech, gadgets, and am absolutely thrilled that my work allows me to be there raising my children. last_img read more

The stench of unfulfilled promises in ‘model’ Phulpur

first_img“This is our own little Prayagraj,” laughs Pramila Pal. Her sarcastic allusion to the Sangam, the confluence of the Ganga, Yamuna and the mythical Saraswati, is aimed at the huge pool of mud and slush formed at her door because of drain water running from different directions. “We face a lot of problems in moving about. But it becomes most embarrassing when we have visitors,” says Ms. Pal, who belongs to an OBC (Other Backward Class) community. She lives in Jaitwardih, a village roughly three kilometres from the banks of the Ganga in the Phaphamau region of Allahabad. While residents remember the village as always being bereft of civic amenities and basic infrastructure, their grouse is that there have been no real improvements despite its adoption as as a ‘model village’ after the Narendra Modi government came to power in 2014. Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya, who adopted the village, was the local MP till last year and the upcoming bypoll on March 11 is to elect his successor.Barring a few patches, most of the roads and gullies in the village are kuccha, uneven and in a decrepit state, marked by overflowing drains. Lone developmentThe lone development that has taken place in the village since it was adopted was the installation of toilets, says Magru Yadav, a resident. Sachin Yadav, a property dealer, complains that Mr. Maurya never paid heed to the civic issues nor delivered on constructing the promised pathways. Locals also say that while the power supply is satisfactory, water supply in the village is irregular. A few blocks away, in the Jatav locality, Kanchan Bharatiya says the village “urgently needs a colony to come up as most of its residents were still living in mud houses.” Another issue facing the village is that of security. The solar lights in the local Sulabh complex were recently stolen.Mahavir Yadav, the pradhan, says the poor roads and the absence of a good drainage system are the bane of the village. He, however, says that a water tank, one Sulabh toilet complex and 92 electric panels have come up in the village after Mr. Maurya adopted it.Mr. Keshav Prasad Maurya was not available for comment.last_img read more

Aguilar, Ginebra escape Star despite costly foul and poor FT shooting

first_imgAlso, had the Kings lost the game, they would have likely blamed it to their horrible 12-of-30 free throw shooting.“Because of our missed free throws we kept them in the game. We just have to make our free throws and lessen our turnovers,” Aguilar said.Sports Related Videospowered by AdSparcRead Next Robredo should’ve resigned as drug czar after lack of trust issue – Panelo NATO’s aging eye in the sky to get a last overhaul Cardona makes PBA return with GlobalPort: ‘I feel like a rookie again’ MOST READ Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games “What I was trying for is to go over him. But he stopped, pulled back, and went for a pump-fake. He was able to foul bait me,” recalled the athletic forward.With Ginebra leading by three, 95-92, Aguilar fouled Hill, who was attempting a three-point shot with 0.6 tenths of a second left. FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games openingHill cooly made his free throws to send the game into overtime.Fortunately for Aguilar, he was able to atone for his mistake with a follow-up dunk in OT that sealed Ginebra’s sixth straight win. Celebrity chef Gary Rhodes dies at 59 with wife by his side Japeth Aguilar. Tristan Tamayo/INQUIRER.netJapeth Aguilar could only heave that sigh of relief after Barangay Ginebra eked out a heart-stopping win over Star Sunday night.And he had every reason to feel relieved after almost costing the Gin Kings the game with a careless foul on Malcolm Hill at the last-second of regulation.ADVERTISEMENT Hotel says PH coach apologized for ‘kikiam for breakfast’ claimcenter_img “I’m proud of my teammates. As the match escalated, we picked each other up and helped each other. It was really a test of character for us,” he said after finishing with 12 points, nine rebounds, and two assists in 30 minutes of play.“We really got tested in this game. They really came out with ferocity. They played with fire and intensity.”Ginebra coach Tim Cone explained that there’s no reason for him to dwell on Aguilar’s play with the game still on the line.“It just happened. We were trying to switch out and we had Japeth out there specifically because he has the ability to switch out on smaller guys. So his instinct on a pump-fake is to jump for the shot, and he just went to his instincts,” Cone said.“Obviously, it wasn’t a good instinct and it wasn’t the right thing to do, but he just went to his instincts, and in those situations, you just gotta try to stay disciplined,” he added. “But it’s the last play of the game. There’s 15,000 people in the stadium and they’re screaming, and it’s Manila Clasico, so you just gotta move on from it. It’s not that big of a deal, but you just gotta move on.”ADVERTISEMENT LATEST STORIES Lacson: SEA Games fund put in foundation like ‘Napoles case’ Don’t miss out on the latest news and information. Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Trump signs bills in support of Hong Kong protesters Celebrity chef Gary Rhodes dies at 59 with wife by his side View commentslast_img read more