Logica unveils pilot projects of collaborative innovations
By Kukil Bora   |   Wednesday, 26 May 2010, 00:33 IST
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Bangalore: "Innovations are no longer inside the labs. They are moving out of the labs across the world today", said GBS Bindra, Global Innovation Director, Logica, on Tuesday, while unveiling some of the propositions that have pilot projects being run to implement solutions based on them. According to him, because of the wide usage of internet today, knowledge is also spread across the globe. Therefore, for a good innovation, companies have to look for sources outside their labs. The sources can be different, ranging from other companies and business partners to even customers. On the benefits of innovation, rather collaborative innovation, Bindra told that successful collaborations can be very beneficial for companies regarding the production of higher quality of products, access to market and customers, financial benefits and so on. In today's world, where people are becoming more and more technology savvy, demand for the tech products have increased a lot. That's how Information and Communication Technology (ICT) has been bringing the growth to the world. Talking about the growth that has been brought by ICT, Bindra mentioned that there are 3.3 billion mobile users in the world now. Apart from that, 30 billion radio frequency Identification tags are produced globally today. Electronic transformation of funds from one bank to another is a Logica innovation, claims Bindra. According to him, in coming years, the present form of currency would no longer be there. There would be no coins or notes because, transaction would become electronic. In 2003, there were 68 billion credit card transactions, he added. One of the key innovations of Logica is a usage-based auto automotive insurance solution named as Crimson. It calculates premium using distance, unlike the current insurance schemes which are based on time. According to Rakesh Aerath, Head - Programme Delivery, Logica, most of the innovations of Logica like Crimson, EMO and Emerald are developed in India. It has its head quarters in Bangalore and Chennai. Logica's EMO is a system for wireless monitoring and reporting of vehicular emissions on real-time basis. On the other hand, Emerald is an innovative web-hosted service that enables carbon labelling of products. Logica has collaboration with Indian companies like Ei Labs and Fara Technologies for hardware manufacturing, said Aerath. In association with INSEAD, a leading business school, Logica conducted a pan-European study on innovation. One of the key findings of the study was the development of an Innovation Readiness Model (IRM), named the Innovation Scan Tool. It ranks an organization's ability to innovate successfully.

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