FountainBlue’s April 7 VIP roundtable was on the topic of IT Trends and Predictions.
Please join me in thanking our executives in attendance and our gracious hosts at Flex, who also joined the interactive discussion. Below is a compilation of their ideas and thoughts on IT trends and predictions.
- The overarching theme for the conversation was a remarkable level of convergence of ideas, technologies, and business models across industries, companies and leaders.
- Another theme was around the need to integrate the vision, planning, development, growth and expansion of any individual solution, working in collaboration with a wide range of stakeholders – investors, corporations, entrepreneurs, government, etc.,
- Disruption is sometimes planned and sometimes fortuitous, but always requires an open mind, an ability to see larger trends, and a tendency to listen to what the customers are doing and saying. Having the people, data, and support to ensure that these disruptions take place will also support the innovation agenda for the organization.
- Growing a concept from the tactical (like solutions for cars) to the category description (like mobility and transportation) will help companies to broaden their outcome and better see inter-relationships and opportunities.
- Digital will be at the heart of innovation, but only if it can provide the AI and data to support customized solutions for a demanding customer base.
- An integrated ecosystem of stakeholders requires collaboration between leaders, companies and industries in order to develop integrated, scalable solutions serving a wide range of customers. Being that type of leader and company worthy of trust will define the level of success for any endeavor, so competence and integrity are key.
- The volume of information will increase, the expectations from customers, investors and other stakeholders will also be elevated. So it’s all about the execution at scale, at pace. Make the processes repeatable, the solutions robust, and the technology modular and flexible.
- Everybody wants to leverage data to make a business case, but unfortunately, the data can point to some irrelevant and superstitious or self-serving conclusions, which wastes time, energy and money. To address this challenge, make sure that you are asking the right questions, that you have high-integrity leaders asking those questions, that you approach the questions with an open mind, and that you include the right data to address these questions. Then look not just at what the data is saying, but also at what it’s not saying and the implications for both. In other words, Big Data is not relevant unless you have Big Answers.
- Core to the success of a solution and initiative is the question ‘who will pay for that innovation’? This is especially valid in highly regulated markets like healthcare. We might have a big-data-driven, sophisticated IT and AI solution, but if the patient, the provider, the insurer, the government, the caregiver can’t pay, the quandary becomes who will pay and what’s the pay-back for them if they do?
- Policy will limit and define opportunities, so business models must take policy trends into account.
- Inviting the diverse, out-of-the-box team members will reflect well on the company culture, the corporate exec, the forward-thinking entrepreneur, and the bottom line. Think about hiring people not necessarily for their technical capabilities, but also for their creative abilities.
- It will always be about the people, so recruit, develop and retain those who can perform well, learn well, adapt and grow. They will shape the future of IT and business in general.
Below is a list of opportunities ahead for IT:
- In a connected world with so many devices and solutions, integration and communication between devices is key.
- Having that secure access to integrated devices and solutions is equally key.
- The sheer volume of data will continue to grow. But big data solutions are not enough. There will continue to be a huge market for solutions which filter out only the ‘relevant’ data, as defined by the customer, to ‘normalize’ that data reducing redundancies and inconsistencies, so data-based decisions can be made.
- Big data solutions which provide diagnostic solutions leveraging AI and IT will create and expand markets in all sectors.
- Leverage open source solutions and collaboration models to build ecosystems and solutions.
- Leverage technology to address the social challenges which matter to the millennials, a large and growing customer constituency.
- The markets will be niche and regionalized, the range will be global, so plan solutions accordingly.
In conclusion, I would say that today’s challenges are tomorrow’s opportunities, but nobody can be everything to everyone and the winners will be part of an coordinated, comprehensive ecosystem of providers, customers, integrators and innovators.