7 Wrong Steps in Innovation

A new survey from PA Consulting has revealed seven very common wrong assumptions or mistakes companies make when deciding to get on the innovation bandwagon.

Among them is the assumption that innovation is a specifically technological concept and the setting up of a special innovation department, siloing activities.

Another thing that many businesses get wrong is failing to realize the full potential of innovation for fear of failing or for their unwillingness to copy successful innovation practices.

 

Virtualization, Hybrid Storage Drive Innovation

Workload virtualization and the increasing adoption of hybrid storage solutions are increasingly driving business innovation, a new research has found.

According to the 2017 State of Storage in Virtualization report by ActualTech Media and Tegile Systems, virtualization is especially popular, not just in file sharing but in other applications too, including Microsoft SQL Server and Microsoft Exchange.

At the same time, hybrid cloud services — flash and spinning disk — are also gaining prominence as businesses strive to boost efficiency.

 

A Security Boost Can Help Digital Transformation

IT is at the core of the digital transformation in today’s business world and it has gone a long way to enable this revolution.

Security is perhaps the biggest challenge along this way and some rethinking is in order so that businesses and individuals can fully embrace digital.

Applying the Agile approach to security is one way of doing this, strict regulation compliance from the start, and a holistic way of treating security are among the ways this issue can be addressed.

 

World’s First Infrastructure Accelerator Opens Doors in Virginia

The Smart City Works Infrastructure Actuator, the first business accelerator focusing exclusively on infrastructure and the built environment has opened in Virginia.

According to the state’s governor, the accelerator will look for tech startups with viable ideas for making cities smarter and creating new, more resilient communities.

The first cohort to benefit from what the accelerator has to offer consists of six tech and construction companies from Virginia, New York, Washington DC, and Illinois.

 

Asian Insurers Feel Threat of Insurtech

A PwC survey of Asian insurance providers has found that a majority of 74% believes the next few years will be challenging thanks to the emergence of insurtech competition.

Despite this threat, only 43% are planning to leverage financial technology to tackle it.

An even smaller minority, 28% is making an effort to join forces with fintech developers and just 14% are backing fintech incubators.

 

AI, Insurtech Are Among Top Fintech Investment Areas

Artificial intelligence, insurtech, blockchain, and cybersecurity are among the top five areas that have attracted the most investments in financial technology, according to the Financial Times.

The fifth area is a geographical one: China, where last year Ant Financial generated $4.5 billion in a single funding round — the sum constituted more than half of the total fintech investment spend in Asia.

A revolution is in the making for financial technology, where machine learning and big data analytics will lead to the replacement of a lot of humans with robots.