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

 
 
 

37 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

7 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 (NewCo) and slashing the workforce of 20,000 by 30 per cent ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 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 the double tragedies of MH370 and MH17" ...
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

UN gives Rwanda $7.2 mn for policy planning
Kigali, Oct 25 (IANS) The government of Rwanda and One UN Rwanda Friday signed 7.2 million dollars financing deal to build capacity in data generation and enhance evidence based on policy planning.
 
 
US nurse with Ebola to be discharged from hospital
Washington, Oct 24 (IANS) A US nurse infected with the Ebola virus disease while caring for a patient from Liberia in Texas will be discharged from hospital soon, the US National Institutes of Health (NIH) said Friday.
 
 
Hundreds of thousands of Ebola vaccines to be ready in 2015: WHO
Geneva, Oct 24 (IANS) Assistant Director-General of World Health Organisation (WHO) Marie-Paule Kieny Friday said hundreds of thousands of Ebola vaccines might be ready for use in the first half of 2015 to turn the tide against the deadly epidemic.
 
 
EU increases aid to fight Ebola in Africa to $1.27 bn
Brussels, Oct 24 (IANS/EFE) The European Union (EU) will increase to one billion euros ($1.27 billion) its contribution to combating the Ebola epidemic in the West African countries worst affected by the deadly virus, European Council President Herman Van Rompuy said Friday.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla