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Key technologies shift costs to drive revenue in digital business

Amazon API Gateway

Amazon API Gateway

Ensconced in the notion of “digital business” that holds customer experience, there’s a rapid shift in focus. This goes from internally focused systems and initiatives to externally focused initiatives to support new products, services, and experiences.

The very role of the CIO is shifting in digital business

The Gartner 2018 CIO survey makes the point “The 2018 CIO Survey plainly reveals that the job of the CIO is changing.” As digitalization and innovation put more emphasis on the information rather than the technology in “IT,” the CIO’s role is transforming from delivery executive to business executive.

From controlling costs and re-engineering processes to driving revenue and exploiting data, “This new-found focus of driving revenue happens at the edge.” Cost savings while necessary when overemphasized is a naval gazing exercise that alone is a trap. The right balance of driving revenue and saving money is a must and right now for those for whom the pendulum is not pressing on the revenue side, they are missing out.

Just doing the same thing cheaper will not win Markets. Innovation and great customer experiences are external. Innovation is essential not only to drive revenue but to drive a stake in the ground for existing markets served and carving out new markets that did not exist prior.

Disrupt or be disrupted. Who would have thought Jeff Bezos, Warren Buffett, and Jamie Dimon—the CEOs of Amazon, Berkshire Hathaway, and JP Morgan would come together to disrupt healthcare. No company can rest on its laurels.

Key technologies

Let’s touch on a couple of key technologies to support innovation… for the purpose of engagement.

Finally, check out the IDC research, our eBook on co-create and co-innovate.

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