Image source: Pixabay Digital business transformation is not easy or inexpensive, but the benefits are significant. Scientists from the MIT Center for Information Systems Research found companies that have executed a digital transformation have significantly higher financial performance — with average revenue growth of 17.3 percentage points and net margins of 14.0 percentage points above industry averages. …
Image Source: Pixabay Rule-based systems, process robotics, and machine learning – artificial intelligence (AI) take on many different faces in use. Not all of them are used equally in Germany, according to a Deloitte study. Which AI technologies are companies currently using? What implementation strategies are they pursuing? And where do you see the biggest …
Algorithms, data and models are not an end in themselves, because they should ultimately result in increased efficiency in our own production or new products or business models. However, we caution against rushing to develop new ML-based products without increasing OEE to at least 90 per cent in-house. The short excerpt presents three applications. Image source: …
Image source: Pixabay Four lessons to guide the industry’s innovation transformations: With digitally enabled innovation, our work has shown that consumer packaged goods (CPG) companies can bring new products to market 50 per cent faster, at a third lower cost, and with double the return on investment. While the industry has embraced new technologies in …
Image source: Pixabay Companies today need to continuously reimagine themselves to stay relevant. In a hyper-competitive, fast-moving business landscape, we cannot rest on our laurels or put off digital transformation projects for a better time. This mindset is critical to surviving at a time when digital transformation is flipping traditional business models to better enable …
Although online shops remain an important building block in e-commerce strategies, they are increasingly overshadowed by marketplaces in terms of sales. The consequences of the pandemic are reinforcing the trend, as more companies are now showing a presence there, thus increasing the attractive range for customers. With the help of industry representatives and exhibitors such as …
Despite the trend towards online and social media shopping, vital city centers are still popular with young customers when it comes to shopping. This is what a research project by Das Telefonbuch and the University of Koblenz found out. How can local trading companies optimally exploit their potential with Generation Y and Z? Image source: …
The use of social networks is declining slightly. Has the pandemic changed our use of social media? Image source: Pexels Social media suffers from fatigue. During the pandemic, the usage went up significantly. Now, in the perceived “post-pandemic”, the social media focus has worn off a bit. However, not every player is on an equal …
Customer data is the key to a new competitive strategy driven by digital. A new book, The Future of Competitive Strategy: Unleashing the Power of Data and Digital Ecosystems explores ways companies can nurture revenue-generating digital customers. As companies reimagine products and services for the digital world, customer data is the linchpin for creating fresh …
The future of retail includes embracing ecosystems and the experience economy, reconfiguring stores, and preparing for Web3 and the Metaverse. Image credit: Photo by Nathália Rosa on Unsplash Michaels, the arts and crafts chain, used to have employees teach art classes at some of the company’s stores. Looking to scale this program, Michaels built a …
Many market observers are convinced with the arrival of Metaverse. Like the mobile internet, the new virtual world could change the way companies and brands communicate with their customers and target groups. Since the Facebook parent company changed its name to Meta in October 2021, there has been no stopping it: everyone is talking about …
Fighting misinformation, understanding powerful algorithms, and mitigating harms are top concerns for social media experts. With social media playing a major role throughout society, understanding how to shape and manage its power is an urgent challenge. Experts discussed the complicated social media landscape and meaningful solutions at the second annual Social Media Summit @MIT, hosted by …
Machine learning pioneer Andrew Ng argues that focusing on the quality of data fueling AI systems will help unlock its full power. The last 10 years have brought tremendous growth in artificial intelligence. Consumer internet companies have gathered vast amounts of data, which has been used to train powerful machine learning programs. Machine learning algorithms …
Super apps are preparing to bundle previously separate functions in one application. This is convenient for the consumer and lucrative for the provider – read below why and how it is changing the market. So-called “super apps” are a fixture in Asia, and this trend is now slowly establishing itself in Europe as well. Behind the …
As companies explore what a robust Metaverse means for them, executives from Second Life and Roblox offer guidance. The idea of a “Metaverse” reached critical mass last fall when Facebook announced its new company name, Meta, and its intention to build “a 3D place where people can work, play, and connect with others in immersive, …
Biometric authentication solutions are slowly gaining ground in more and more areas. Read below as to what is lacking and why they will still permeate our everyday life. The number of case studies in public space is increasing and by no means only in China: biometric authentication solutions are about to conquer everyday life. The …
The world is becoming more and more digital, and so is the office. Smaller and medium-sized companies are increasingly using artificial intelligence, which makes manual work easier or superfluous. But experts say there could be a lot more. What are the reasons for the reluctance? And what does it take for AI to become widespread? The future has already …
What is the Metaverse? We present the latest trend from Silicon Valley. Using an exemplary day of a young woman in 2035, we explain what this vision could look like and what this could mean for retail in concrete terms. Unsere Protagonistin ist Mia, 25 Jahre alt. Wie sieht ihr Tag genau aus? 8 a.m.: Mia …
Metaverse is the latest hype in Silicon Valley and the tech giants are investing billions of US dollars. But what is the Metaverse anyway? How can you or should you get in now? Metaverse Metaverse is a vision for a shared online world that does not currently exist. It merges the virtual world, augmented reality …
Technological trends in retail 2022 The journey from brick-and-mortar retailing to e-commerce has now moved on to mobile commerce and other technology trends in retailing. Prof. Dr. Richard Geibel explains in an interview why technologies such as 5G will only play a supporting role and voice commerce, on the other hand, has considerable potential. You …