A peek into #TheNeXt decade

Ronald van Loon is a frequent influencer & public speaker for significant AI, Big Data, IoT, and Data Science events. He is a globally acknowledged thought leader in the industry and also recognized as a Top 10 Global Influencer in Artificial Intelligence, Machine Learning, Digital, Digital Transformation, Business Intelligence, and Predictive Analytics.

How did he get there? In his own words: by collecting and sharing knowledge three hours a day, seven days a week. It is only natural that van Loon takes stage at the NASSCOM Technology and Leadership 2019 (NTLF 2019) and offers a peek into the what’s in store for the next decade.

Data Technology Development

According to van Loon forecast for the data technology development, the frontier of data technology centres around customer experience (CX).

In a connected world, nothing propels the bottom-line more than seamless CX. Customers expect that, and businesses must anticipate where the customer is. A Gartner report that van Loons quotes, states that by 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human.

CX transformation

If CX is the key, then digital transformation must transform CX also. Loon offers a few insights on the capabilities that will do this. The usual suspect prevails: mobile Artificial Intelligence (AI).

Mobiles, or devices, are smart. And they’ll get smarter. They hear, see, speak, and more importantly, learn. They also understand and talk to us – think Siri, Echo, Cortana and all those virtual personal assistants. A Huawei study says that in 2025, 90% of the population will be using smart assistants. The CX storm will hit most industries via the small screen.

As digital disruption accelerates, van Loon warns that certain industries like Banking, Insurance, Retail, and Media among others will find themselves hit by the CX hurricane. If the experience isn’t’ delivered, there is only destruction.

Disruption accelerated

Digital disruption business is a tough game to play: more the disruption, the more costs for ill-equipped organizations. AI is the next digital disruption. Machine learning, big data techniques and cloud power this AI storm. By some estimates, only 20% of data is collected and mine, the rest 80% is digital dust.

To this effect, van Loon illustrates the power of data and AI with real-time visual computing pipeline for managing traffic flow. This system uses transcoded live video streams which are read and processed by visual computing algorithms. The output is structured data that is used in alerting, optimizing, and even monitoring vehicular flow, trajectories, accidents, and even predicting fatalities.

On the other hand, is AI disruption in the manufacture segment of the three ‘digital twins’. van Loon presents the case of Maserati, the automobile manufacturer. The manufacturer digitalised all aspect of building a car throughout all levels. It employed data streams to create virtual product and virtual production. These digital iterations enable development and simulated simultaneously to streamline and accelerate the product development process.
Maserati used data of both the real and the virtual models concurrently to optimise manufacturing process. As a result, costs were reduced, and development time was slashed by 30%.

Rise of the platforms

Ronald prophesizes that the next decade will see the ‘battle of the platforms’. Digital platforms will continue to evolve paving the way for further digitalization and partnerships with enterprises.

Companies across various industries must drive the shift even more and invest in the digital landscape either in their own platforms or infrastructure that gets them one.

Businesses built on digital platforms will become increasingly more vulnerable unless they offer the CX that customers need and deserve. van Loon predicts that companies more willing to adopt platform strategies and risk revenue streams in cross industry transformation in new digital offerings will see positive results.

Talent redefined

CX models will be built on the brute force and scale of AI mass personalization. To facilitate this, organizations will have to change also. van Loon expects the Rhombus shape of talent structure to dominate the coming decade with the leader-manager empowered by AI.

The bell curve of the Industrial Age is over. As business processes become smarter and more automated, it is master craftsman who will be the lynchpin to create value. These “hyper performers” are people companies must attract, retain, and empower to innovate and fuel growth.

Ronald van Loon is a digital evangelist with one foot in the future. For companies to successfully implement data and analytics strategies in the next decade he summarises five key points: a clear business vision, agile multidisciplinary teams, embedded data-driven culture, end-to-end data management and analytics, and improved accessibility to best data sets.

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