360° Coverage : For IT Success, Cognizant CEO Braces For Hyper-Connected World

2 Updates
For IT Success, Cognizant CEO Braces For Hyper-Connected World

For IT Success, Cognizant CEO Braces For Hyper-Connected World

Feb 5 2014, 3:45pm CST | by

At Davos, everyone with a mic in their hand is considered the smartest guy in the room. So when global business executives speaking at the World Economic Forum recently said that one of their main...

Filed under: news

 
 
 

33 weeks ago

For IT Success, Cognizant CEO Braces For Hyper-Connected World

Feb 5 2014, 3:45pm CST | by

At Davos, everyone with a mic in their hand is considered the smartest guy in the room. So when global business executives speaking at the World Economic Forum recently said that one of their main growth concerns is technology, the ears of CEOs at IT consultancies start to burn. Of course, this is music to their ears.

Call it “hyper-connectivity” or Web 3.0, one thing is clear: a company’s computer system is no longer an issue relegated to chief information officers. Technology is now a CEO level agenda item. “CEOs have a dual mandate of improving current business performance and investing in the technology that will get them there,” says Francisco d’Souza, CEO of Cognizant Technology Solutions, a $27.4 billion multinational IT outsourcer from Teaneck, NJ.

Technology drives corporate growth. It also drives entire economies. The best paying jobs in the U.S., and the companies that are hiring, are the Apple's of this world. Cognizant added around 5,000 people to its global payroll last quarter alone.

Companies from Target to Bank of America recognize the importance of social media, online banking transactions, mobile and cloud computing. Google spent $3.2 billion to acquire Nest Labs, a company that allows you to control your home’s heating system remotely. Hyper-connectivity. This is the song that gets guys like d’Souza out on the dance floor.

“Today we have about seven billion things connected to the internet and in the next decade you’ll go from 50 to 100 billion things,” Cognizant CEO told FORBES in a post-earnings calls on Wednesday. That connectivity includes Nest Labs’ thermostats, to medical machinery operating across platforms and oceans.

Known as the IoT, or the “internet of things”, the smart phone connected to your Thermador stove and your washer/dryer is just one possibility of products and machines being connected through broadband. The current IoT market is around 4.5 billion euros, expected to hit around 4.5 billion euros this year and 8 billion euros in the next six years.

“Not since the dot com boom have CEOs been talking about the implication of these new technologies on their businesses,” d’Souza said. “Depending on what business you were in, you might have thought that the internet was only disruptive for media companies and not industrial machinery manufacturers. Today, people see new technology as being disruptive for the vast majority if not all industries.”

Last year, in the company’s biannual journal called Cognizanti, researchers did what Cognizant researchers love to do: coin phrases. SMAC was the acronym they used to define social, mobile, analytics and cloud. Their latest beyond-internet tech term is “code halos”.

Think about your personal mobile and computing gadgets, and all the things you do with them: connect with friends, play games, manage money, read books, work, watch movies, listen to music, get directions and shop. Consider also all the digital information flowing daily between every computing device – tablets, mobile phones, gaming consoles and things like cars, televisions and airplanes. Each is surrounded by a blanket of invisible energy. But it’s not electricity; it’s a halo of digital information connecting people, organizations, processes and devices, the reports authors led by Malcolm Frank wrote last year. Frank and his colleagues put a book together on the topic of the same name. Code Halos: How the Digital Lives of People, Things, and Organizations are Changing the Rules of Business comes out by J. Wiley & Sons in April.

It used to be that companies that made the best product for the money or provided the best customer service, would succeed. But that’s no longer the case.  ”Future-ready businesses understand that it’s the digital information that customers, products, partners and employees build and share that can create unprecedented levels of insight and business value,” report authors wrote.

Web 3.0, hyper-connectivity, code halos, whatever it gets called, broadband interconnectivity is on every CEOs mind. “The job of the IT consultancy is to understand where the value from these technologies will come from for their particular client, not just for the outsourcer who will benefit from these changes,” said d’Souza.  ”Business leaders want to be able to use these new technologies of interconnectivity to either gain parity with their competitors,” he said, “or beat them.”

Countries With The Fastest Internet Speeds

Source: Forbes Business

 
Update
2

4 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (Ne ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

4 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of t ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Man dies two years after being struck by stray bullet
Santiago, Sep 30 (IANS/EFE) A 23-year-old Chilean man died after two years in a persistent vegetative state as a result of being shot in the head unintentionally by a law enforcement officer during a student protest in October 2012, his family said Monday.
 
 
Over 2,000 Germans volunteer to help battle Ebola
Addia Ababa, Sep 29 (IANS) Over 2,000 Germans have heeded the government's call to register as volunteers for deployment to fight the Ebola virus disease outbreak in Guinea, Liberia and Sierra Leone, the African Union (AU) said in a statement Monday.
 
 
India open minded, wants change, Modi tells top US executives
New York, Sep 29 (IANS) India is open-minded and wants change, Prime Minister Narendra Modi told top executives of American companies, including Google and Citigroup, during a high-powered breakfast meeting here Monday.
 
 
World hunger falls but 805 mn still chronically under-nourished: FAO
Abu Dhabi, Sep 29 (IANS/WAM) Despite the overall progress made in global hunger reduction, 805 million people are estimated to be chronically undernourished in 2012-14, down more than 100 million over the last decade, and 209 million lower than in 1990-92, the UN's Food and Agriculture Organisation (FAO) said Monday.
 
 
 

Latest from the Network

Argentina mulls decriminalising drug use
Buenos Aires, Sep 29 (IANS/EFE) The Argentine government said Monday that it is considering two proposals to modify the law to decriminalise the use of illegal drugs along lines suggested by the head of the country's...
Read more on Politics Balla
 
Clintons meet Modi, praise clean Ganga effort
New York, Sep 29 (IANS) Prime Minister Narendra Modi met former US president Bill Clinton and his wife and former US secretary of state Hillary Clinton who were full of praise for his efforts at cleaning the Ganga...
Read more on Politics Balla
 
Fighting terrorism: Syria accuses US of double standards
United Nations, Sep 29 (IANS) Syria's Deputy Prime Minister Walid Al-Moualem Monday accused the US of using a policy of double standards in fighting terrorism at a high-level debate at the UN. Al-Moualem said that...
Read more on Politics Balla
 
Portugal to take part in global coalition against IS
Lisbon, Sep 29 (IANS) Portugal will be part of the international coalition combating the Islamic State (IS) terrorist organisation, said the country's Defence Minister Jose Pedro Aguiar Branco. "Combatting Islamic '...
Read more on Politics Balla
 
Belgium's biggest terror trial begins
Brussels, Sep 29 (IANS) Belgium's biggest ever trial for alleged terrorism offences began Monday in the northern city of Antwerp. The trial involves 46 defendants accused of conspiring to overthrow Western democracies...
Read more on Politics Balla
 
Italy on terror alert
Brussels, Sep 29 (IANS) Italy was put on a high level of alert for possible terrorist attacks even though no specific threats have been made, Interior Minister Angelino Alfano said Monday. "The alert for Italy is high...
Read more on Politics Balla
 
Spain appeals against Catalonia referendum in Constitutional Court
Madrid, Sep 29 (IANS/EFE) The Spanish government filed an appeal before the country's Constitutional Court Monday after Catalonia's regional president decreed that a referendum be held Nov 9 to decide if the wealthy...
Read more on Politics Balla
 
France, Germany to offer drones to monitor Ukraine truce
Paris, Sep 29 (IANS) France and Germany have offered to deploy drones as part of the Organisation for Security and Cooperation in Europe's (OSCE) efforts to monitor the ceasefire in Ukraine, a government official said...
Read more on Politics Balla
 
Over 2,000 Germans volunteer to help battle Ebola
Addia Ababa, Sep 29 (IANS) Over 2,000 Germans have heeded the government's call to register as volunteers for deployment to fight the Ebola virus disease outbreak in Guinea, Liberia and Sierra Leone, the African Union...
Read more on Business Balla
 
UN chief discusses Syria, Iraq with Turkish foreign minister
United Nations, Sep 29 (IANS) UN Secretary General Ban Ki-moon Monday met Turkish Foreign Minister Mevlut Cavusoglu, and discussed the situation in Iraq and Syria, including international efforts to combat the threat...
Read more on Politics Balla