No business can do everything. In the past, companies might have been limited by their capabilities. Today, they can harness new, scalable digital technologies to build networks of collaborative partners – or ecosystems – and offer much broader propositions.
With more than half of all businesses already interacting with their commercial partners in globe-straddling webs, overcoming the barriers to taking full advantage of the Business 4.0™ environment has become imperative.
Technology is converging with the specific needs of wide and complex networks. Successful companies are passing on the wisdom they’ve accrued for harnessing an abundance of talent, capital, data, and computing resources to solve business problems and deliver exponential value.
These developments, and more, will be examined at the 15th annual TCS Summit, held in San Antonio, Texas, starting Sunday, September 8. During the three-day event, high-level speakers, including Natarajan Chandrasekaran, Chairman of Tata Sons, Rajesh Gopinathan, Chief Executive Officer and Managing Director of Tata Consultancy Services, and CxOs from Fortune 500 companies will share the experience of their successes and deep dive into ecosystem challenges. They’ll discuss topics from mass personalization and disruption to funding digital transformation.
Ecosystems are networks of relationships and channels that have emerged as the fabric of Business 4.0.
Turning the conventional notion of a supply chain on its head, they are dynamic, real-time connections between business partners. They are non-linear and non-hierarchical webs of collaboration in which no single large entity dictates terms or information flows, and the contributions of all players, large and small, are equally valued.
Because they offer participants an abundance of talent and resources, ecosystems also promote business agility and fail-fast processes, which in turn drives innovation.
The companies that have most successfully identified and exploited such opportunities are those that have shrugged off prior ingrained assumptions common in older business models.
They’ve overcome cultural resistance to operating within a globally collaborative nexus. Also, they’ve jettisoned the idea that rivals can’t be partners; in the Business 4.0 era, everyone can offer something in the pursuit of meeting customer needs, even a long-standing competitor. And they’ve moved from a contract-based way of working to a looser, more creative means of engaging with partners.
Most visibly, however, they’ve put their faith in technology – cloud, the internet of things (IoT), analytics, automation, robotics, and artificial intelligence (AI) – which is what really makes Business 4.0 possible.
It’s providing the lightning-fast connectivity that’s enabling companies to interact and transact in real time. It’s also generating and capturing streams of data – and the processing power needed to interpret them – that has become the lifeblood of business.
Until recently, companies had knitted together the disparate capabilities of the digitalized environment to create this new business milieu. But now a new generation of software and hardware has emerged, nurturing the behaviors of Business 4.0.
At Summit, TCS will unveil Bringing Life to ThingsTM, its newest IoT Business Framework platform, which delivers self-awareness in IoT setups to help enterprises build new business models, optimize value chains and forge unparalleled customer experiences.
TCS will also announce the latest update to its Machine First Delivery Model™, an AI-driven platform that powers enterprises’ transformation and growth strategies. It’s a full-service proposition based on the Machine-First concept that enables companies to leverage their technology, skillsets, products, platforms, and tools to carve out new ecosystems and prosper within existing networks.
Driven by rapid advancements in technology, the global economy is experiencing disorientating disruption. TCS Summit will help senior executives make sense of this disruption, providing insight and analysis of what it takes to gain a competitive advantage in a Business 4.0 world.