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Innovation Workshop. The digital CIO: Why embrace digital innovation? Technology is changing industries wholesale.

The digital CIO: Why embrace digital innovation?

Digital innovation – the web in particular – relentlessly commoditises and rewrites the rulebook for business. Everyone knows the stories about HMV and Amazon; Blockbuster and Netflix; Thomas Cook and Expedia – but many assume it only happens to other organisations. By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy. Businesses that are seemingly well established are facing new threats at an accelerating rate from previously unencountered opposition using technology. How digital innovation is transforming banking. A new wave of technologies – such as blockchain, digital wallets and robo-advice – is revolutionising the way we manage, control and distribute money.

How digital innovation is transforming banking

Gone are the days where you had to enter a bank to carry out a transaction. Just whip out your smart phone with your mobile banking app and you’re set. In fact, today you can even seek financial advice courtesy of automated computer programs – no human interaction required. Almost every area of the finance industry is being disrupted by these new technologies, forcing the traditional banking sector to re-evaluate and invest in digital innovation, and changing the face of money as we know it. According to Alan Tsen, founder of Block+Labs, a thematic innovation lab that aims to develop new ventures in the blockchain technology sector, blockchain has had the biggest single impact so far. Mastering the Digital Innovation Challenge. Bringing digital innovation to an established company such as Volvo Cars requires carefully balancing new capabilities and core competencies.

Mastering the Digital Innovation Challenge

In 2010, a small group of managers at the automaker Volvo Car Corp. assembled to craft a vision for the future involving wirelessly connected cars. They recognized that the company needed to renew its innovation capability to compete more effectively in an increasingly digital environment. Doing so, of course, was easier said than done. One problem was that many managers didn’t see a need to innovate digitally.

Digital Innovation and the Future of Storytelling: A New Golden Age? The media world was taken by surprise when HBO — and subsequently CBS — announced they will allow consumers to bypass traditional pay TV distributors to access entertainment content directly via the Internet.

Digital Innovation and the Future of Storytelling: A New Golden Age?

This move was seen as both validation of and a direct challenge to Netflix, whose rapid growth has dramatically changed the way consumers experience entertainment content. How far we’ve come. Sixty years ago broadcast television was a game-changing technological platform that provided a unique opportunity for creative talent to experiment with new forms of storytelling. And, the programming that emerged became a part of our cultural fabric — with families gathering around the living room TV set to experience stories that were later shared in hallway and telephone conversations by kids and adults throughout the nation.