Competing on Speed: Bringing Intelligence into the Customer Experience
The Big Read
The Aricent Technology Vision focuses on the latest trends that determine a company’s ability to compete on speed by creating revolutionary products that learn to sense what their customers want before their customers know themselves.Download the full report
Just when you thought things couldn’t get any faster… they have
People want products that understand them, anticipate their needs and above all improve their lives. Once they experience something new that excites them, it becomes the standard for everything that follows. The bar is raised for all other products they interact with.
And the bar is rising very fast. When Toyota set out to design the futuristic Concept-i car, it aimed to define a new relationship between car and driver through artificial intelligence—one that’s friendly, helpful and learns with the driver. Algorithms are able to diagnose pulmonary hypertension better than cardiologists. Within five years, quantum computing will bring exponentially faster simulations and predictions to cyber security, gene therapy, manufacturing and more.
In a time when anything is possible, loyalty to a company hinges on its ability to see beyond the immediate and lead its customers into the future. If it can’t, customers will look elsewhere.
Companies are also challenged to keep pace with the waves of technology that, when combined, produce profound breakthroughs. Blockchain, a shared ledger that is secure by design, was just a whisper a year ago and is now a phenomenon. From product development to global supply chains, the promise is greater efficiencies and opportunities for distinctive business models.
There are consequences for companies that can’t move at the right speed. Globally, digital disruption is shaving 45% off the revenue growth of incumbent companies and 35% off their earnings. As the digital economy accelerates, the brands and companies that can harness the power of overlapping technology waves will win.
So, the race is on. Companies in every sector are eyeing transformative opportunities to turn products into platforms and add digital services that differentiate their brands. All this at a mind-numbing pace, which makes innovating to stay ahead—or just to keep up—especially challenging for companies whose products were not born digital.
...but when you overlap technology innovation–the forces amplify then returns start to really take off!
This year, the Aricent Technology Vision focuses on the latest trends that determine a company’s ability to compete on speed. We look at four trends that allow a company to create revolutionary product designs that learn to sense what their customers want before their customers know themselves.
We encourage you to reflect on the implications of these trends for your company’s offerings and strategic direction and, most importantly, for your company’s ability to deliver exceptional experiences to your customers.