Accenture: Join the journey to digital reinvention
Artificial Intelligence (AI) is the power behind a digital reinvention in industry which will pave the way for a profitable future, according to a survey by Accenture. From self-driving cars to virtual assistants, Industry X.O is using AI to turn ordinary products into extraordinary game-changers.
“Most industrial companies recognise AI’s potential,” reports Accenture. “When we surveyed 500 manufacturers across six industrial sectors in six countries, we found no shortage of AI enthusiasm.”
“The re-invention of industrial products with AI is still in its early stages, and getting it right is anything but easy,” said author Eric Schaeffer, Senior Managing Director, Industrial. “However, the successes of the AI leaders in our sample show that it can be done and that the business case for AI in industrial is very strong.”
When combined with other powerful digital technologies, AI creates Industry X.0 products that evolve with their users and enhance the customer experience.
X.O products are a convergence of breakthrough technologies from analytics, AI mixed reality and more which enables mass customisation with smart, connected products, in real-time.
If industry can establish digitally reinvented products in the market at scale, they will boost top-line growth, and thus their market capitalisation, claims the report. Winning companies start out with the conviction that AI can shape the future of their products and businesses.
Research found that only a small group is leveraging AI in a way that Accenture refers to as Applied Intelligence. This equates to intelligent technology and human ingenuity, combined with analytics and industry expertise, applied at the core of business.
It was found that 98% have begun integrating AI into their products in one way or another. “They understand that by combining AI with other digital technologies they can drive higher operational efficiencies and a differentiated customer experience,” says Accenture.
But many struggle to realise their AI dreams. Only 24% recognise that digital reinvention drives top, as well as bottom-line growth. More than 75% take a scattergun approach to the challenge.
A four-stage journey to success
The survey by Accenture confirmed all successful companies stay on this four-stage journey towards digital reinvention:
Companies need to have conviction and believe in the power of AI to shape their future and to bring key stakeholders with them. The good news is seven in 10 display such conviction.
“Articulate your belief in the digital reinvention of the product and communicate it with simple and authentic passion,” reports Accenture.
When it comes to transforming conviction into a commercially viable vision, however, only 16% of survey respondents qualified. Industrial visionaries see the big picture: 82% rank enhanced customer loyalty and insights from product and service usage as key value drivers.
“Define the product you want to digitally reinvent, identify the value to be built and owned and determine the impact on both top and bottom lines,” says Accenture.
Armed with a vision and data-driven strategy, the next step is to commit management and finances to two areas: gaining the skills needed to ensure integration of new IT and shifting elements of the business model to embed AI.
Ensure that senior management is committed to securing the strategic and tactical partnerships that create value and mitigate risks.
Only 2% of survey respondents achieved the scale they needed to drive market value from their digitally reinvented products.
The report states: “Leverage your ecosystem to innovate, adopt a ‘fail fast’ approach to the journey, and empower your workforce to develop and service digitally reinvented products across their lifecycle.”
By moving forward with conviction, leading players are developing new business opportunities and accelerating the implementation of new models that can enhance customer value and thus their own.
“The time to join the journey to digital reinvention is now,” concludes the report from Accenture.
NetNumber: Time for a cloud-native transformation
NetNumber is accelerating the transition in the telecom industry to 5G as it starts a shift to cloud-native architecture to address the fast-paced demands of global subscribers and businesses.
NetNumber is offering the industry’s first cloud-native platform designed to ensure InterGENerational™ network performance addresses both the legacy and next-generation requirements of telecom networks.
“NetNumber has developed the industry’s most robust cloud-native, InterGENerational platform that addresses both the legacy and 5G requirements of telcos,” said Matt Rosenberg, Chief Revenue Officer of NetNumber.
The platform provides vertical and horizontal scale-out with low latency, coupled with a suite of data replication capabilities, which provide flexible architectural options that can evolve with the changing network over time.
“Cloud-based solutions from other vendors tend to be limited in terms of supporting particular network generations or protocols. We’ve created our latest platform TITAN.IUM to allow customers to take any generation of applications, any generation of legacy services and protocols and move them into the new world of cloud-native architecture,” said Rosenberg.
“This is a really important part for a carrier to harmonise their network, bring data services together, bring legacy with new together in order to make a more effective and efficient network, as well as reduce their cost as they scale forward,” he said.
Established in 1999, NetNumber has fostered a strong team environment that leverages the industry’s best skills to offer software solutions tailored for carriers of all dimensions. Based outside of Boston and with presence in over 20 countries, the company delivers a range of products that address all generations (2G, 3G, 4G, 5G) of network functions in the core network, deep rooted security products and services, STIR/ SHAKEN and set of options around data services in more than 90 countries.
Steeped in experience in building telecom solutions, software, protocol stacks, and integration of third party tools, the company’s development organisation has proven to supply to the industry with the most reliable and flexible solutions on the market.
“At NetNumber, we focus on our core competencies – we are dedicated to providing industry expertise in signaling, routing, security, subscriber management and data services. We provide customers a strong ROI through platform-based solutions that reduce Capex and Opex in the long-term,” commented Rosenberg.
Five reasons why customers choose NetNumber:
- Expertise - NetNumber has experts with deep knowledge in signaling/routing, security, and subscriber database management.
- Integration - An industry-first platform brings together domain services, applications, security, and global data services.
- Scale - NetNumber has the ability to seamlessly increase network efficiency using vertical and horizontal scaling.
- Speed - World-class solutions have the power to help companies create new service offerings and accelerate time to ROI.
- Savings - Customers enjoy significant savings in capex and opex, flexible deployment models, and investment protection.
NetNumber and Virgin Mobile MEA
“We're very proud of our partnership with Virgin Mobile MEA as they've taken the concept of the InterGENerational platform into their regional network strategy,” commented Rosenberg. “That’s accelerated how they develop exceptional services across the Middle East and Africa region.
“We work with them hand-in-hand to deliver multiple applications onto our platform which has enabled them to provide exceptional, advanced and innovative services to their customers across the Middle East, who demand high quality services.
“What they've really taken advantage of is scale. What I mean by that is they are putting multiple generations of applications and services onto the same platform and distributing that data across their network. That has resulted in an advantageous position of time to market and operational savings.
“Rather than having different applications for many different vendors that cause operational chaos, they've been able to consolidate that and reduce their operating costs by having everything on one common architecture. We’ve had a long-term relationship with Virgin Mobile in Saudi Arabia, and recently signed an agreement with Virgin Mobile in Kuwait.”
Rosenberg says that with these solutions, Virgin Mobile MEA can take advantage of getting to the market much quicker and faster—which is what today’s discerning customer demands.