Smart Digitisation drives business
It is vital for organisations who wish to keep themselves ahead of the pack, in today’s ever-evolving and highly competitive economy, to be mindful of the models of business and emerging technologies available to help put them there. With the customer experience overtaking product and service as the driving force behind engagement, forward-thinking organisations simply must look to delivering disruptive services and products in order to completely change and improve the way they engage with their clientele.
Customers no longer want just a product or service, and traditional methods of engaging with customers need to be reviewed. Disruptive business models allow companies to find new ways of giving their customers the experience they seek, which in turn drives new and return business, as well as revenue.
Mark van Vuuren, Chief Operating Officer at The Jasco Group, recently discussed the challenges and benefits for companies who are looking to apply disruptive models of business within their organisations at the launch of Jasco’s Smart Digital Enterprise.
Hyper disruptive models of business, from subscription models and Internet of Things (IoT) engagement to ecosystem models, play an immense role on the perceived value that an organisation offers its customers. Increasing a company’s value proposition requires that it implements an action plan to improve on, or even replace, its current business models with ten-fold results, rather than settling for a mere 10% gain. The concept of this kind of “moon shot” thinking is the marriage of radical solutions to equally radical, cutting edge technologies in order to have a ‘shot’ at solving a problem.
Van Vuuren adds, “Companies need to stop ‘making do’ with traditional engagement models in a market that insists that businesses evolve as quickly as their customers’ demands do. In order to meet the need for better, faster and more exceptional ways to interact with customers, companies must dig deeper for solutions that work and keep them ahead of the curve.”
Smart digitisation demands that companies look to disruptive business models to evolve and progress at the speed at which the market does, but this does not need to be a complex and difficult process, nor is it reserved for large multinationals. Companies need to simplify their approach to digitalisation, moving away from complexity and allowing the transition from old to new, to take place in an almost seamless manner. This may seem an impossible task, but new technologies are constantly emerging and can be applied innovatively to answer these problems.
Digitalisation is no new concept, but we are part of the evolution to a fully digital world where the management of a solution is as simple as clicking a button on the internet.
Nybl: Saudi Startup to Expand AI Solutions
According to co-founder Nour Alnahhas, nybl was formed for the greater good. A visual data mining and machine learning platform, the platform will help organisations streamline their operations. ‘We wanted to centralise our vision around AI and machine learning’, said Alnahhas. ‘Something not just for profit, but added value. Conscious capitalism’.
Nybl aims to democratise artificial intelligence by making it possible for anyone to build an AI solution. What website builders like Wix and Squarespace did for site design, nybl will do for AI—allowing even non-coders to feel comfortable creating solutions. In fact, Alnahhas calls it a ‘Shopify of AI’, or a third-party platform that helps businesses deliver better service.
With hubs in Kuwait, the UAE, North America, and India, nybl is focused on launching operations in Saudi Arabia, Alnahhas’s home country. When the company first launched, it was difficult to convince Saudi Arabian businesses to work with a startup. Yet now, nybl has proven itself. ‘We had support in the UAE, so now we’re coming back’, said Alnahhas.
Alnahhas has launched a pilot with Saudi Aramco and has slowly built partnerships with paper, heating, HVAC air conditioning, and manufacturing companies. In addition, the Saudi government has started to invest in the Kingdom’s National Strategy for Data and AI, which means that nbyl, as a tech startup, has finally gained credibility.
No War for Talent
One of the most critical parts of nybl’s expansion will be hiring the right individuals. Thankfully, there’s a current surplus of talented researchers, developers, and data scientists within the Kingdom. Like nybl’s Alnahhas—educated at the University of Houston, the Wharton School of Business, and INSEAD— many Saudi Arabians have benefited from government-sponsored education abroad.
Last year, Saudi Arabia signed several partnerships with tech firms to advance the Kingdom’s skills in artificial intelligence. ‘It’s exciting to be in Saudi Arabia where there’s alignment and support’, Alnahhas concluded. ‘You’re getting an increasing talent pool. And even old and big family conglomerates are finally changing to use AI’.