Accenture previews digital disruption
By Kokumo Goodie, Lagos, Nigeria
Global management consultancy firm Accenture has promised to continue to enhance digital transformation and business efficiency through the application of relevant solutions and technology.
The firm, which is Oracle’s first diamond partner, said the rise of social media platforms has changed the game, stressing that data has become another source of revenue for telcos after revenue from voice appears to be peaking.
Oracle Alliance Lead at Accenture, Olatunde Olajide, who spoke at Oracle Day in Lagos, said the firm has been at the forefront of the digital disruption process, with innovative solutions that have helped telecoms companies and other organisations to transform their businesses.
Digital Disruption was the theme of this year's celebration. Olajide said Accenture is a co-innovator with Oracle which it has partnered with for about 30 years and that the company is very close to its clients globally, understands what they want and together with Oracle, addresses the needs of these customers. While making a presentation on digital transformation, he stated that in any given technology revolution, changes enabled by technology propagate many aspects of economic, political, business and personal life.
On how technology would enhance economic activities, he affirmed that it has made labour less important as production capital, lead to collaborative consumption, and a rise in the role of Internet protocol and a shift from venture capital to equity and public funding with examples in the area of fiber optic deployment and smart cities. Commenting on technological changes and its link with economic business models, Olajide said this has led to new emphasis on data and new sources of value: attention, identity, reputation, social graph, machine intelligence, robots, genetic modeling, new buyer values, change in control points and a winner takes all phenomena. And on institutional changes, he said the digital disruption has led to new types of competition among countries, changes in concepts of employment, approaches to work, privacy and identity concerns as well as educational learning patterns with the help of the Internet.
He explained that digital technologies are already beginning to affect many aspects of social life through social media interaction, and online shopping and buying processes. According to him, platforms such as Twitter, Google and Facebook constitute a true paradigm shift. What gives them power is their ability to grow, specifically, their speed to scale. Even politics is increasingly transformed by digital technologies. Furthermore, Olajide affirmed that the banking sector is not left out in the digital disruption process, citing as an example Guaranty Trust Bank plc in Nigeria, which has introduced its 'social banking' service on Facebook.
On future implications, he said the next two to four years will see much accelerated digital change and disruption. According to him, by the end of this year, Pay-as-you-drive insurance will rise significantly to account for 10 percent of overall annual auto insurance premiums, and enterprise software spend will increase by 25 per cent from current figures as a consequence of the proliferation of smart operational technologies. Also by 2016, three automakers will have announced concrete plans for upcoming automobile launches that will offer autonomous vehicle technology.
And 20 years from now, biotechnology will be in a mature phase and that the world will routinely turn off genes that protect disease and aging, computer displays will be fully integrated with reality. “Search engines will know you like a friend and will be aware of your concerns and interests at a detailed level, almost everyone will have access to the world’s best educational materials, people will be able to prove what they know with competency-based credentials, and a born-mobile workforce will be constantly connected to both work and home life,” he predicted.