siliconindia | | April 201819customers. Companies are utilizing the advancements also to open up opportunities beyond the traditional models to reach the previously unserved populations.Example: Telemedicine, banking services on low range mobile networks (mesh network)Data Currency: Future ready companies rely on a large amount of current data to make decisions. Congruity of the emerging technologies like, IoT, Blockchain, and Cognitive Analytics creates an abundance of data, transparency of data and accessibility to data; that is enabling companies to make better strategic decisions. Reasoned Decisioning: Smarter machines and AI are playing a primary role in developing robo-advisers in the financial services and intelligent claims processing in the insurance segments. Dispersed Workforce: Millennial-generation prefers work flexibility over compensations. Organizations are experimenting with technology solutions driven by mixed reality, proliferating with mobile technology to allow employees work from anywhere in the world. A good example for this would be the India stack initiative which enables organizations that are Indian market specific to digitally transform the lives and ensure that the impact reaches the unpenetrated sections of the society. This stack comprises of a four layers; layer one enables users to remotely identify themselves for any service from anywhere in the country (Presenceless layer), layer two enables individuals to move their documentation for identity without humongous paper work (Paperless layer), layer three comprises of a digitally enables network enabling individuals and business to transact without physical cash via e-wallets like BHIM powered by payment networks like UPI (Cashless Layer), and finally layer four that provides a pre agreed network among governmental agencies and third parties to share agreed data freely and securely (Consent Layer).Hence, in an evolving marketplace, a business must proactively innovate to stay ahead of the competition. It must assess, test, analyze and judge the legacy systems faster than ever. The aim of all innovation should be to solve a business problem using the technological advancements businesses should not retro-fit technology so that they can seem innovative.Innovative solutions aligned to Digitalization, and focus on quick turnaround of Proof of Concepts (PoCs) and prototyping, along with flexible engagement models and flawless delivery are some of the key strengths that would define organizations of the future. The synchronicity of digital technology and lean business models is that it not only makes you more efficient, it can also allow you to be something completely different from what you were beforeAparna Pallavi
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