Digital Transformation Trends - Fortune 500 Companies

Goals

To understand the trends, top of mind ways of thinking, philosophies etc when it comes to driving digital transformation in Fortune 500 enterprises. Also to identify C Suite executives who are considered innovators in the implementation of digital transformation. The end goal is to develop a pitch for Cognizant.


Early Findings

OVERVIEW

  • As a result of the decreased costs to store data and the increasing effects that heightened interconnectivity and growing amounts of available data for analytics, AI algorithms and machine learning capabilities have become more and more accurate. The end result is an "increasingly efficient smart grid."
  • These technological advancements have created the use of "Big Data," were calculations encompass all data with no errors in sampling. The end result has been the enabling of machine algorithms to perfrom "precise, predictive, and prescriptive analytics.

FORTUNE 500 COMPANIES AND DEALING WITH DIGITAL TRANFORMATION

  • Tailor-Made Solutions: The automotive industry has been one of the industries hit hard by digital transformation. As part of it's digital tranformation strategy, BMW turned to Huawei to develop servers with capabilities to shorten the engineering R&D cycle time and imrove their computer aided engineering simulations.
  • The Rise of Technology and the CMO - The need to leverage and create partnerships with AI and analytics solution providers that utilize technology (IoT, AI, AR/VR) to track, analyze and predict consumer behavior will lead to the the shifting of roles of the CMO to more of a Chief Growth Officer.

INNOVATIVE C-SUITE EXECUTIVES

  • Reed Hastings, Netflix CEO - Through the use of open source and recommendation engines, Netflix has grown from a DVD courier service to scale its business to over 100 million customers in the world, of which only 5 million still use the DVD service.
  • Shiko Nakamura - Nissan Motor Corp - "Use of crowd sourcing in the digital age."
  • Lori Beer - CIO Global JP Morgan & Chase - Beear has made blockchain technology the primary focus of their digital tranformation road map. In addition she has been the driving force behind their automation of services.
  • Kenneth Corriveau - CIO Omnicom Media Group - In addition to focusing on blockchain and cloud computing, Corriveau is an influencer with insights into consumer branding and experiences.

Proposed next steps:

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