The case for digital reinvention
McKinsey & Company
Digital technology, despite its seeming ubiquity, has only begun to penetrate industries. As it continues its advance, the implications for revenues, profits, and opportunities will be dramatic.
As new markets emerge, profit pools shift, and digital technologies pervade more of everyday life, it’s easy to assume that the economy’s digitization is already far advanced. According to McKinsey’s latest research, however, the forces of digital have yet to become fully mainstream. On average, industries are less than 40 percent digitized, despite the relatively deep penetration of these technologies in media, retail, and high tech. The research-survey findings, taken together, amount to a clear mandate to act decisively, whether through the creation of new digital businesses or by reinventing the core of today’s strategic, operational, and organizational approaches.
Technology for People – The Era of the Intelligent Enterprise
Technology changes are all around us, and coming faster than ever. But no longer are we waiting and wondering how the latest digital technology innovations will change things; rather, we’re taking control and shaping technology to fit our needs, large and small. Digital disruption has a new direction. We’re using technology to disrupt ourselves.
Accenture’s research report is all about technology for people. The five IT trends and innovations in the 2017 Technology Vision will empower people to invent and achieve more in the era of the intelligent enterprise.
Deloitte Global Predictions 2017 – Growth opportunities for the year ahead in TMT
The addition of machine learning to smart phones has shattered how humans interact with technology. Will fingerprints trailblaze security? What types of cyber attacks will prevail? What inventions could propel self-driving? What’s the future of 5G?
Deloitte take a deeper look into insights on a broad range of topics relevant to the TMT ecosystem. This year’s report includes ten Predictions focused on critical business challenges and opportunities including:
- Biometric security reaches the billions
- DDos are the new cyber threat
- New self-driving technology
- The evolution of 5G
As the pace of technology expands, forward-thinking companies have the opportunity to rethink and revitalize their business models.
The Revolution Is Upon Us – The Exponential Changes In Commercial Property
Be under no doubt, we are in the midst of a global revolution, driven by demographic, technological and economic factors that will see global cities take on a new context, the jobs market turned on its head, and the manner in which office space is constructed, leased, managed and occupied by end users changed forever.
There will be more change in commercial property in the next five years than we have seen in the last 30 years. In this paper, Knight Frank review the factors fuelling this revolution, identify current trends, and forecast what lies ahead for commercial property in Australia and beyond.
Digital Australia: State Of The Nation
The EY Digital Australia: State of the Nation report provides a comprehensive view of digital engagement, attitudes, and behaviours amongst Australians. This study builds on last year’s report that highlighted Australia’s place in the digital age. Drawing from primary and secondary research, the report asks and answers a number of questions that help understand the how and why of digital engagement. The EY Digital Australia: State of the Nation 2015-16 report is the first stop for informing and optimising digital strategy now and in the future.
The Digital Transformation Of Industries
A Panel Discussion At The World Economic Forum’s Meeting In Davos
The conversation about digital technology has shifted over the past five years. No longer seen as the exclusive domain of tech companies or a driver of marginal efficiency gains, digital technology is now considered a powerful enabler of fundamental innovation and industry disruption across the value chain. What big bets are companies making in the digital transformation of their business models and organization structures?
At the World Economic Forum’s annual meeting in Davos, a panel of business leaders focus on three aspects of this question:
- Defining digital transformation
- Making the right investment decisions
- Designing a digital culture
Commercial Real Estate Industry Outlook – A Nexus Of Technology Advancements And Consumer Behaviour Changes
There are a number of dynamics that have great potential to fundamentally change the commercial real estate (CRE) business over the next decade. Market disruptors in technology—including cloud computing, mobile, social media, and analytics—have primed the sector for some of the most important shifts in its history. It’s important that industry leaders continue to think about the longer-term strategic issues at play and how they can stay ahead of the disruptive forces.
Deloitte Center for Financial Services have identified four themes that they believe will result in significant disruption for the commercial real estate industry:
- Collaborative economy
- Disintermediation in brokerage and leasing
- War for talent
- The last mile
Intelligent Assets Unlocking The Circular Economy Potential
World Economic Forum
The exponential growth of connectivity has had a sweeping impact on our society in the last decade. It is widely understood that this increased connectivity between people, products and systems can create significant new sources of value for citizens and economies. Recognizing the importance of this trend, in 2015 the World Economic Forum identified The Future of the Internet as one of its 10 Global Challenges.
This report illustrates opportunities for innovation and creativity across a spectrum of industries and sectors: it looks at how we manufacture and use electronics and advanced equipment, how we create our energy infrastructure, how we build and transform our buildings, and how we produce food. It assesses how smart cities might evolve to become a focal point for the transitions to follow. There are profit opportunities for companies to play for but perhaps more importantly, there’s an opportunity for society to redefine its relationship with resources.
This document aims to provide the rationale for these opportunities that the intersection of the circular economy and smart connected devices could unlock for your business, city or region.
Megatrends That Will Shape Or Future
At EY, they describe megatrends as large, transformative global forces that define the future by having a far-reaching impact on business, economies, industries, societies, and individuals. We live in a world in constant motion. Goods, capital, and labour are traveling globally at a faster pace than ever and moving in novel patterns. Technological innovation, including digital, is rewriting every industry and the way in which human beings manage their lives. In this world, the ever-increasing acceleration of change is one of the few constants.
EY has identified six megatrends which they believe will have the present and future capacity to disrupt and reshape the world in which we live in surprising and unexpected ways.
Industry Outlook For Technology In Real Estate Development
Ron Nyren – ULI
Members of four of ULI’s product councils discuss how technology is changing development in their sectors, how growing up with technology has influenced the millennial generation, how the greater availability of data can benefit property owners and developers, how technology can support more sustainable development, and what potentially game-changing technologies lie ahead.
Catching The Next Wave Of Disruptive Real Estate Technology
Patrick J. Kiger – ULI
In the coming years, it will be possible to access mountains of aggregated market data and do real-time valuations for industrial, retail, and office properties, and buildings will be traded online the way that stocks are traded now. That is the world envisioned by a panel of real estate information technology providers at ULI’s 2015 Fall Meeting in San Francisco, and they expect to see it happening in the next few years, thanks to IT innovations of the sort that have reshaped other industries.
Patterns Of Disruption – Anticipating Disruptive Strategies In A World Of Unicorns, Black Swans, And Exponentials
John Hagel III, John Seely Brown, Maggie Wooll, & Andrew de Maar – Deloitte University
Established industry incumbents perpetually face the risk of being disrupted by new entrants using new technologies, business models, or approaches to capture marketplace leadership. Are there ways for incumbents to recognize these threats in advance? As the first of a two-part series, this article takes an incumbent’s point of view to understand what turns a new technology or new approach into something cataclysmic to the marketplace—and to incumbents’ businesses. Why are these developments hard to see coming, and why are they difficult to respond to effectively? In search of patterns, the authors looked far and wide across arenas as varied as voice-over-IP, furniture manufacturing, fantasy sports, and travel guides.
Deloitte Mobile Consumer Survey 2015: The Australian Cut
This annual report provides a unique demographic insight into Australians’ mobile device usage and related preferences, specifically in relation to: smartphone penetration, dependency on devices, network preferences (WiFi/4G/3G), content consumption, payments and retail, Internet of Things/wearables, to name a few. The report also contains some global comparisons as the survey was conducted in 30 countries around the globe.
In the Deloitte Mobile Consumer Survey 2015: The Australian Cut, Deloitte call out these five trends important for all businesses whether finance, retail, technology or telecommunications.
- Game of Phones’ – the battle of devices
- Managing our multi-dimensional lives – Australia’s Social Revolution
- The need for speed – anywhere, anyhow, anytime – all the time and lots of it
- Retail Reinvented – shifting ‘down-time’ into ‘browse-time’
- Grandmas Taking Selfies – and posting
Mobile Consumer Survey 2015 – The Australian Cut
The Australian Cut is part of Deloitte’s Global Mobile Consumer Survey, a multi-country study of mobile phone users and usage around the world. The 2015 study comprises of 49,000 respondents across 30 countries and five continents. Data cited in this report is based on a nationally representative sample of approximately 2,000 Australian consumers aged 18–75. This report provides a perspective on the insights that the survey has revealed. Additional analyses including: reasons for buying mobile devices, reasons for joining/leaving mobile operators, attitudes towards triple/quad play, our responses to mobile advertising, tablet usage and other views on the mobile consumer market.
Big Data: The New Raw Material Of Business
Think you know Big Data’s future? Think again. From machine learning to enhanced artificial intelligence to creating an economy of prediction, it’s bigger, smarter and transforming business as we know it. Data Expert and Futurist Kenneth Cukier explains how in the latest film in Institutional Investor’s series “Conversations With Tomorrow.”
Millennials: Cafe Culture Comes To Wall Street
Christopher O’Dea Investments And Pension Europe (IPE)
Millennials are already changing the face of business and lifestyle. Christopher O’Dea looks at how this new-technology era is affecting economies and investment.
At a glance
- The Millennials are the generation of individuals born between 1980 and 1999.
- The demands of this new digital generation are already reshaping the economy.
- Millennials themselves are simply the most obvious manifestation of the development of new technologies.
- These digital natives typically earn less than their parents, are willing to live in small spaces and often socialise in coffee shops.
Super Connected Jobs
Understanding Australia’s Future Workforce
Super Connected Jobs – Understanding Australia’s future workforce: The Australian nation and economy will change profoundly over the decade to 2025. The population will increase from 24 million to 28 million. The workforce will increase from 11 million to 13 million. And the way Australians work, where they work and the type of work done, will change. The NBN has prepared the Super Connected Jobs Report to help us understand the significant benefits technology can bring and identify where employment will change over time.
Securing Australia’s Future – Technology And Australia’s Future: New Technologies And Their Role In Our Security, Cultural, Democratic, Social And Economic Systems
The Australian Council Of Learned Academies (ACOLA)
Adaptability and innovation are central to a healthy and prosperous future. New technologies (their creation and their uptake) are critical in enabling Australia’s innovative capacity and productive potential. This project examines the risks and opportunities of a broad range of new and emerging technologies, and evaluate their transformative implications for Australia’s society, democracy, environment, security and trade. It also explores what it takes to win in the technology race and manage the human costs of disruptive technology.
Technology, Real Estate, And The Innovation Economy
The innovation economy – where ideas and IP are king – is evolving, growing, and urbanising exponentially. At the same time, disruptive technologies including mobile connectivity, the internet of things, and 3D printing are attracting trillions of dollars of investment and increasing the power of agile small companies to hit the big time.
Mega disruptors are feeding the growth of this new economy. Big data, digitisation, the sharing economy, and the global war for talent, are all transforming how people and companies work and think. This disruption is driving more variety, volume, and quality, unsettling old business models, and forcing down barriers to entrepreneurship. Critically, they are also changing the patterns of demand for workplaces, buildings, urban districts, and even for cities themselves.
In this report, ULI explore and explain how all of this creates a new normal for real estate. The business cycles of innovation sectors mean they need flexible leases, operate under different revenue models, and need access to grow-on space. They also need fully customised workspaces, reliable utility systems, and often a lively mix of retail, performance and event space built in. These specific and bespoke demands mean that any ‘one size fits all’ approach is destined to fail. What is more, these new requirements are no longer solely the demands of innovators. The influence of innovation is stretching to traditional sectors and tenants, rapidly transforming the real estate landscape. The lessons from some of the world’s ground-breaking innovation spaces and districts suggest that real estate needs to revolutionise its modus operandi if it is to effectively service and profit from the innovation economy. It can no longer rely just on bricks and mortar; these changing patterns add up to a fundamental change to the business model for real estate.
Future-Proofing The CRE Industry – Is Commercial Real Estate’s Innovation Curve Moving Fast Enough?
ARGUS Software, Voyanta and Altus Group recently commissioned IDC to conduct a global research survey on the state of technology innovation in the CRE industry.
The Altus Group CRE Innovation Report, based on the global survey results, provide a unique look at adoption of data-driven CRE technology innovation and the risks of not innovating quickly enough.
This report addresses the following questions:
- How can the industry take advantage of the unprecedented opportunities available?
- What are the gaps and opportunities in the use of data, analytics and reporting and their impact on decision-making and investor returns?
- What can the CRE industry do to future-proof itself?
- What do they feel will be their biggest challenges?
The Future Of Mobility: How Transportation Technology And Social Trends Are Creating A New Business Ecosystem
A fundamentally new business ecosystem is emerging due to the societal and technological shift toward shared and self-driving vehicles, with impacts that will extend far beyond just the automotive industry. Will technological advances and shifts in social attitudes lead to our no longer owning or driving vehicles? The global auto industry’s transformation has far-reaching implications for how we move from point A to point B and, in turn, affects carmakers, energy companies, insurers, health care, government funding, and more. Value shifts as a new ecosystem of mobility emerges.
The Shift To The Cloud
Michael Poulsen – Magellan Asset Management
Michael Poulsen takes us through the profound changes underway caused by cloud computing, and shows how companies like Amazon and Microsoft are changing the way business is done.
Digital Solutions. Simplified – Presented At Connected Consumer NSW
James Ingram – Presented At Connected Consumer NSW
With constant improvements in technology, consumers are becoming increasingly connected and have expectations which are not being met by the current retail experience. In order to remain relevant and deliver on these expectations, retailers have to look at taking the benefits of the online experience, and bringing them in-store with technology. The retail space has a perfect opportunity to deliver personalised experiences using a variety of technologies. Just like websites in the 90’s, early adopters are investing now in delivering high definition platforms to their consumers in-store, setting their businesses up with a solid foundation for meeting growing demands in the future.
Who Owns The Road? The IoT-Connected Car Of Today—And Tomorrow
Simon Ninan, Bharath Gangula, Matthias von Alten, & Brenna Sniderman – Deloitte
The connected vehicle has been the most visible and familiar example of Internet of Things technology. But as cars become increasingly software-driven, the real IoT developments in the auto industry are behind the scenes, as automakers and software providers both lay claim to the driver’s seat.
IoT’s About Us: Emerging Forms Of Innovation In The Internet Of Things
James Guszcza, Harvey Lewis, & John Lucker – Deloitte
The observation that the Internet of Things encompasses people holds a number of transformative business and societal implications. The data and information flows that continually emanate from people and devices can be aggregated and analysed to create fundamentally new types of products and services that go with.
The More Things Change – Value Creation, Value Capture, And The Internet Of Things
MICHAEL E. RAYNOR AND MARK J. COTTELEER – Deloitte
Most “things,” from alarm clocks to Zambonis, the human body included, have long operated largely “dark,” with their location, position, and functional state unknown or even unknowable. No longer, thanks to the Internet of Things (IoT), a suite of technologies and associated business processes that allow us to track and count, observe and identify, evaluate and act in circumstances heretofore effectively invisible and beyond reach.
In relaxing many of the constraints that have traditionally defined fundamental business processes, the IoT demands that we revisit the two defining questions of strategy: how to create value, and how to capture it.
Deloitte argue that embracing the new challenges of information-based value creation without abandoning the time-tested tools of value capture—where to play, and how to win—is a powerful first step in creating an effective IoT strategy for your organization.
The Internet Of Things: Mapping The Value Beyond The Hype
The Internet of Things—digitizing the physical world—has received enormous attention. In this research, the McKinsey Global Institute set out to look beyond the hype to understand exactly how IoT technology can create real economic value. McKinsey’s central finding is that the hype may actually understate the full potential of the Internet of Things—but that capturing the maximum benefits will require an understanding of where real value can be created and successfully addressing a set of systems issues, including interoperability. Viewing IoT applications through the lens of the physical settings in which these systems will be deployed creates a broader view of potential benefits and challenges. Rather than just analyzing IoT uses in vertical industries, McKinsey also look at settings, such as cities and worksites. This shows how various IoT systems can maximize value, particularly when they interact. McKinsey estimate a potential economic impact—including consumer surplus—of as much as $11.1 trillion per year in 2025 for IoT applications in nine settings. Interoperability between IoT systems is critically important to capturing maximum value; on average, interoperability is required for 40 percent of potential value across IoT applications and by nearly 60 percent in some settings.
Digital Demand – The Employment Of Digital Professionals Now And In The Future
AIMIA/ Shop Science
This retail report aims to give operators in the digital media space a view into the future. Commissioned by AIMIA, this resource by Shop Science will empower readers to leverage their business and professional skills to make strongest impact in the industry. The digital demand report is a comprehensive outlook on where the industry is heading. It is operating against a backdrop of a rapid evolution of the digital services marketplace. The Digital Demand report investigates how the industry overall is affected by the continual emergence of new digital tools and capabilities, changes in consumer utilisation of various digital services which collectively are encouraging large organisations to continually enhance their digital capabilities.
Sensis Social Media Report
The Sensis Social Media Report, now in its fifth year, provides not just a view on past trends, but dives into how consumers and businesses are engaging with social channels. The report maps out the rapid changes that are taking place online. It is a vital tool for all business owners, whether they are looking to establish their online presence or improve their existing profile.
The Digital Imperative
As entire industries are disrupted by bold digital entrants and business models, more and more companies are at risk of extinction. Digital strategy and transformation must therefore be a top priority of the CEO and the senior management team. Companies can’t just dabble at the edges by appointing a charismatic chief digital officer or CIO, adopting the latest shiny technologies, or “letting a thousand flowers bloom.” They must prototype their strategy, disrupt their own businesses, digitize their core business, get the most value from data, and position their business in the broader ecosystem. To create successful businesses in the new digital economy, leaders must take action in these five areas.
In recent years the convergence of business intelligence and big data has given rise to data-driven organizations—organizations that use data not only as a check against gut intuition, but to direct business practices, marketing, new product development and any number of other operational activities. But business intelligence platforms typically miss an important dimension of data analysis: location.
In this report Forbes Insights looks at real world location intelligence use cases in the public and private sectors, and how organizations within these sectors have used location to reveal insights. We have interviewed senior executives and officials from a number of industries to understand the efficiencies and competitive advantages location intelligence helps their organizations create.
ICT & The Future Of Transport
Imperial College London And Ericsson
Transport is one of the most interesting industries from the perspective of industrial disruption due to the amount of disruption that the industry is undergoing at the moment. Transport is therefore indicative of the emerging issues that may face other industries, from the use and application of data to the development of autonomous vehicles based on sensors and wireless connectivity, leading to numerous regulatory complexities.
Many technological advances are being developed within the transport industry covering chemistry, physical engineering and nanotechnology. This report focuses solely on the ICT aspects that create industrial disruption, and these other material science aspects are beyond the scope of the report.
Deciding With Data: How Data-Driven Innovation Is Fuelling Australia’s Economic Growth
Data-driven innovation is transforming Australia’s economy and society, and is emerging as an essential tool to improve our growth and prosperity.
In 2013, data-driven innovation added an estimated $67 billion in new value to the Australian economy, or 4.4 percent of GDP. However Australia has substantial room to improve and left an estimated $48 billion on the table in potential value from data-driven innovation in 2013.
The Power of Zoom – Transforming Government Through Location Intelligence
Anesa “Nes” Diaz-Uda & Joe Leinbach – Deloitte
The Power of Zoom represents an evolution in the way government sees and interacts with the world. When location data is coupled with existing government data and expertise, every point on the map can provide historical and predictive perspective to inform complex policy decisions.
The map itself has been transformed from a static picture to a living platform for shared decision making and real-time collaboration, focusing the energy of the crowd and empowering government and citizens to work together to respond quickly to challenges at any scale.