How can you succeed in this fast-moving world? That’s the hot topic under discussion at the TCS Summit Europe 2019 in Geneva

This year is the 14th TCS Summit Europe. Over the years, it has established itself as a key event to help senior business and technology leaders understand today’s and tomorrow’s business challenges. 

The world of Business 4.0 is as challenging as it is exciting – and to be successful, companies must be agile in adapting to, and driving, digital transformations.

Speakers and panel sessions at the Summit will examine critical Business 4.0 behaviours that TCS believes companies need to adopt: mass personalization, creating exponential value, leveraging ecosystems, and embracing risk.

Highlights of this year’s event will include the launch of a new initiative to leverage the power of the Internet of Things and an update about the next stage of TCS’s flagship MFDM TM (Machine First Delivery Model). 

Geneva will play host to the 14th TCS Summit Europe this year. Source: Shutterstock

Driving growth

Successful transformation journeys require a fundamental mindset shift within organizations and the Summit will look at how to bring this about. The Summit will highlight how today’s leading companies have a great opportunity to move away from past philosophies that hold them back.

Too many business leaders focus on what they don’t have, concentrating on optimizing scarce resources, which distracts them from realising they are surrounded by an abundance of talent, capital, data and computing power.

In order to harness that to drive exponential growth, business leaders need to forge new relationships, not only with the people in their organizations, but with partners outside the corporate fold. 

Even today’s competitors can become partners when innovative thinking is applied to building new business ecosystems. Driven by data analytics, companies can start to think about opportunities in market segments they never believed they could serve.

New partnerships

These new ecosystems demonstrate the principle of being greater than the sum of their parts, magnifying the power of the enterprise by driving innovation and delivering new services and products.

Take, for instance, a bank that is helping its mortgage customers reduce their energy costs and carbon footprint by embracing smart home technology. It not only builds massive customer loyalty; it also makes their homes more valuable when customers need to move on.

Bringing a smart home technology company into a bank’s ecosystem would have been unthinkable before TCS planted the seed of an idea which has grown into a successful business opportunity.

Smart home devices are part of the Internet of Things which is creating enormous opportunities, greater connectivity and breaking down boundaries between businesses, their end users and suppliers. Key to this is the flow of information, enabled by IoT, automation and Artificial Intelligence (AI). 

TCS believes the true power of connectivity will be realized when IoT develops beyond delivering real-time data and we are able to build self-aware devices which can interact and react independently. It’s what they call “Connectivity in Context” and TCS says it will enable new business models and transform customer experiences.

Source: Statista

Data at the heart

Leveraging new AI technologies and building ecosystems that empower innovation will allow companies to become more agile, leaving behind non-core markets and deploying their expertise in new areas. 

Data will be key, enabling mass personalization of products and go-to-market tactics. The age of mass marketing is ending. In the future, AI-driven analytics will build a clear picture of the needs and behaviours of potential customers and allow marketers to address them in a language that resonates with their requirements.

Naturally, change is never without risk. But to adapt an adage, the person who never took a risk never made anything. They certainly never made a successful business. Understanding and managing, rather than avoiding, risk is fundamental to Business 4.0. 

TCS Europe Summit will demonstrate how mastering Business 4.0 can unlock new revenue streams and expand customer bases by powering innovation.