Innovation is a core component of virtually all business growth strategies, and digital business transformation is on the agenda of most of companies. At the same time, technology innovation is progressing at a relentless pace, manifested in technologies such as cloud computing, big data analytics, the Internet of Things, mobile apps, and social media. IT’s ability to translate this technology innovation into business innovation opportunities is rapidly becoming a core attribute of world-class IT performance. This is a complex, multifaceted issue involving business partnering capability maturity, technology innovation competency, innovation process integration, and the maturity and business savvy of technology talent, along with enterprise innovation culture.
Exponential improvement in core digital technologies is fuelling exponential innovation. The cost-performance of three core digital technology building blocks—computing power, storage, and bandwidth—has been improving at an exponential rate for many years. As the rate of improvement accelerates, we are experiencing rapid advances in the innovations built on top of these core “exponential” technologies. The current pace of technological advance is unprecedented in history and shows no signs of stabilizing as other historical technological innovations, such as electricity, eventually did.
Exponential innovations are rapidly moving across boundaries, causing traditional definitions to blur and blend. They are combining with entirely new categories of technology such as molecular biology and materials science, enabling advances and causing disruptions across an ever-expanding range of industries, functions, and disciplines.
“The transition to the digital age, however, promises to turn everything upside down — and the evidence of that eventuality is now clear and obvious. As this realization dawns on top executives, they now seek capabilities that will help them cope with the uncertainty and disruption that the digital age has wrought.”
The changes brought by exponential innovation are increasing the pressure on companies to perform. Yet the same platforms and ecosystems that amplify exponential innovations can also help institutions and individuals connect with each other, empowering them to combine technologies, practices, and business models in interesting ways to create a seemingly endless array of new products, services, businesses, and new technologies. This ability to combine and recombine technologies and people and build on existing innovations is the core of exponential innovation.
The Guild along with VMware, a global leader in virtualization bring to you, Business Innovation Tour, a unique emerging-businesses focused technology session, which will articulate how businesses like yours can accelerate its digital transformation agenda. During this exclusive session, we will discuss how emerging enterprises technologies like mobility, end-user computing, virtualization, business continuity & disaster recovery etc enable business to achieve more with less.
“You can simplify accelerate your innovations and digital transformation with VMware’s proven virtualization and mobility solutions, built for the growing business. Real manageability starts here”