A New World of Opportunities: NineSigma’s Innovation Projects Drive Digitalization Across Different Industries
The Digital Revolution has dramatically changed the world in the last fifty years, leading to increased efficiency and growth in various industries. NineSigma is at the forefront of this change by facilitating organizations to find, adopt, and maintain innovative digital solutions. Our team leverages the knowledge, resources, and expertise of our global network of experts through our one of a kind platforms, the Open Innovation platform and NineSights, to provide targeted insights and informed decisions for businesses.
Our recent survey received 215 responses from experts across 22 countries and 15 different industries, showcasing the global reach of digitalization and its impact on various business functions. In 2022, the most significant impacts of digitalization were in the areas of smart factories, AI in healthcare, digital management technologies, AR/VR/Metaverse, and AI-driven customer service. The results of the survey indicate that the digital advancements most eagerly awaited in 2023 are in the areas of AI, Business Process Automation and Internet of Things. NineSigma helps companies tackle their most pressing innovation challenges with reduced risk and increased confidence. By leveraging the power of our networks and expertise, businesses can remain competitive and drive digital transformation.
Innovation is the key to unlocking limitless potential in the digital age
Over the last half century, we have witnessed our world being reshaped by the Digital Revolution. As modern business and conventional industries have adopted new, more advanced and autonomous ways of operation, there has been an unparalleled increase in efficiency, thus leading to prolific growth and success within respective markets. In today’s ever evolving economy, businesses are constantly at a brink of change, where one right step towards digitalization could open countless doors of opportunities.
At the heart of Digitalization lies innovation, and at the heart of innovation lie ideas. NineSigma is working with a wide range of industries and a large network of experts to bring forth the most innovative, adaptable and resilient solutions that can drive digital change in today’s dynamic world and transform businesses.
What Drives Digital Transformation
Globally recognized digital expert David L. Rogers, in his book The Digital Transformation Playbook, highlights five key digital forces: value, data, competition, customers and innovation. He writes, “Taken together, we can see how digital forces are reshaping five key domains of strategy”. NineSigma’s Mission to harness the most dynamic force of Digitalization, Innovation, by facilitating organizations in the process of finding, adopting and maintaining novel digital solutions.
Digitalization is a complex process in today’s day and age. Businesses need targeted insights into their respective particular problems. Due to limited internal sources, expertise, perspective and time, companies are unable to expand their innovation approach and produce an effective solution. There are several questions businesses need to ask themselves before investing in a new technology or innovation project:
- What is the project trying to solve? How critical is it to the company’s success?
- What are the project’s benefits, impact on growth, profitability, customer satisfaction?
- What are the risks? Financial, operational, reputational?
- Who is the target market? Defined market for product/service?
- What is the competitive landscape? Similar solutions/products?
- What is the project timeline? Realistic and achievable with resources?
- What is the next step? Company’s plan for moving forward.
NineSigma can help you answer these questions by leveraging a wealth of data, expert insights, and global perspectives, thereby empowering you to make informed decisions with greater confidence and reduced risk, maximizing your potential for success. Our team surveyed our global network of experts on their one of a kind Open Innovation platform to gain insight on popular avenues such as quantum computing, blockchain and metaverse and highlight the top digitalization trends of our age. By using the power of collective intelligence, NineSigma gives its clients a competitive edge in the innovation race. Our talented delivery team scours the landscape to uncover the most relevant solutions for your business, and optimizes until the perfect fit is found.
How NineSigma Keeps Up To Date with Trends
NineSigma can help a business address their most complex and urgent innovation challenges by leveraging the knowledge, resources and expertise of external partners, and gaining a broader understanding of the problem. Open innovation can also help businesses to bring new ideas and solutions to market faster, and with less risk. This process of exploring, finding and connecting with new ideas is conducted through the use of their one of a kind network Open Innovation Council (OIC).
The OIC is a group of experts and thought leaders that provide insights on latest innovation, best practices, trends, and challenges from various industries and disciplines, including business, science, and technology, who provide perspectives on how to effectively implement innovation programs to cater to a specific problem. When NineSigma receives an innovation challenge from its clients, we activate this network to navigate the complex landscape of the problem and set a stage to solve it. The council helps NineSigma to stay abreast of the latest trends and developments in innovation, and to identify new opportunities for growth in different sectors.
Over the past year, corporations have leveraged the power of OIC to gain valuable insights into several areas. These include:
- Determining the most effective Digital Management Technologies for monitoring construction progress at construction sites.
- Investigating innovative applications of Digital Technology, IoT, and Artificial Intelligence in the installation and operation of wind power generation.
- Acquiring hands-on experience with the practical challenges in developing digital biomarkers and incorporating them into the new product development process.
- Gathering a diverse range of global expert opinions on the coevolution of digital and human/society to inform future visions by 2050.
- Generating new business ideas on the utilization of automobile data in the medical field.
- Examining the future relationship between the automotive industry and quantum computing technology.
- Exploring the potential of AR/VR/Metaverse for product promotion and advertising.
- Surveying the trends of trade finance blockchain consortia.
Our survey of digitalization trends received a total of 215 responses from experts based across 22 countries and 15 different industries across the world. We asked the experts to share insights on their business functions that were most significantly impacted by digitalization in 2022, and also the digital technologies they are most eagerly awaiting in 2023. Our analysis of the responses revealed five compelling use cases of digitalization in 2022 that were most frequently mentioned:
- Smart factories, self-driving transfer robots, and simplification of production processes – Digital technologies such as IoT, big data and artificial intelligence (AI) are transforming the manufacturing industry, leading to increased automation, reduced energy consumption and improved production processes.
- AI in healthcare – Computer vision and AI are being used to improve the quality of patient care in the healthcare industry. For example, computer vision systems can help diagnose diseases accurately, while wearable technology and telehealth are transforming the way healthcare is delivered.
- Sales and Marketing digital transformation – B2B decision-makers view digital transformation as key to their business, with the main priorities being the activation of digital media and channels, use of data for targeting and segmentation, and the implementation of sales and marketing technologies.
- Cloud technology with improved security – As more data is collected, there is an increased need for secure storage and management of this data. Cloud technology with improved security is becoming an essential aspect of digital transformation initiatives.
- AR/VR technology – Augmented reality (AR) and virtual reality (VR) technology is being used across a variety of industries, particularly in the real estate sector, where it is being used to present homes to customers in a more immersive and realistic way.
Overall, the survey emphasized on the nature and use of most sought after and acclaimed trends such as quantum computing, block chain and metaverse. These results indicate how digital technologies are transforming various industries through the use of innovation, from manufacturing to healthcare to sales and marketing, leading to improved processes, increased efficiency, and better customer experiences.
We also asked experts to highlight the areas of digital transformation they would like to plan to invest in 2023 were most anticipating for the upcoming year. Our results established the following:
- Artificial intelligence (AI) is expected to continue to advance in the upcoming year and become more integrated into various industries. In sectors like manufacturing, food and construction, AI is expected to be used to optimize and automate production processes, leading to increased efficiency, reduced costs, and improved product quality. In the field of transportation, AI-powered autonomous vehicles are expected to become more prevalent. Additionally, AI is expected to play a bigger role in the field of customer service, allowing businesses to provide more personalized and efficient service to their customers. Furthermore, it is expected to play a crucial role in the field of cybersecurity and help companies to protect their data and networks.
- Business Process Automation (BPA) is expected to continue to grow in popularity in the upcoming year as companies look for ways to improve efficiency, reduce costs, and increase productivity. It is expected to be used more extensively in industries such as finance, healthcare, and retail, as well as in back-office functions such as human resources and IT. Additionally, BPA is expected to be integrated more deeply with other technologies such as artificial intelligence, machine learning, and the internet of things, to create more intelligent and sophisticated automation systems.
- In the upcoming year, it is expected that Internet of Things (IoT) will be used more extensively in industries such as manufacturing, healthcare, and transportation, to improve efficiency, reduce costs, and increase safety. Additionally, it is expected that IoT will play a larger role in the development of smart and sustainable infrastructure, with IoT-enabled devices and systems being used to improve energy efficiency, and public safety.
These three trends are expected to continue to evolve and become an increasingly important part of many industries, driving efficiency, innovation and growth. NineSigma has ample experience working with clients on each of these areas, leading successful innovation projects that not only contribute to a company’s success but also have a sustained positive impact on the society.
How NineSigma Brings Together The Best Ideas
NineSigma believes collaboration is the key to effective innovation, and so we have developed NineSights, an open innovation platform designed to connect organizations with ideas, collaborators and experts to share ideas, knowledge, and resources, with the goal of driving innovation and growth. NineSights offers a range of features and functionalities, such as: Collaboration tools, Search and discovery, Network and Project to help our clients get inspired by a diverse range of possible solutions to their problem.
Here are a few innovation based projects that NineSigma conducted through NineSights:
Stand Out with Innovation Intelligence
We at NineSigma believe that collective intelligence leads to limitless solutions. Any business, no matter how big or small can leverage the power of innovation to differentiate themselves in their industry.
Here are some steps You Can Take to Stand Out
- Explore New Technology Spaces relevant to your business.
- Discover New Business Opportunities to help you grow.
- Shape your Sustainable Future to make a longstanding impact.
- Accelerate your Innovation and be a pioneer for new ideas.
- Extend Your Capabilities by optimizing resources.
NineSigma can help you stay up to date with the top and most latest digitalization trends and deploy them at your own organization. Get in touch to find out how your business can stay relevant in the ever evolving market or stand out in the global digitalization landscape.
Get in touch to find out how you can benefit from NineSigma’s approaches to accelerate your innovation.
If you’d like to know more don’t hesitate to get in touch or send us an email at: firstname.lastname@example.org
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