Organizations should undertake the digital cognitive journey, says Rajdeep Saha, IBM
Rajdeep Saha
If you look across the banking, insurance, Micro finance Institutions (MFIs) or Non-Banking Financial Company (NBFC) sectors there are disruptions from customer preferences to your competitors who are innovating very different models, this forces the organizations to take notice of. For example, through Google Pay you can now buy a gold, very different model and banks are taking notice of it. So a lot of things are coming and to implement it we help the organizations in shaping their thought process, so as to guide them to some of the initiatives or strategies that they should bucket as a quick win and then progressively take it over.
Giving insights on the three elements which are important for any business model, Saha said, if you look at any business model the three important elements, is the ‘3D’ lens which is — to defend, disrupt and differentiate. These are the three buckets where companies strategy would lie and for each of these buckets, there are various technologies that are there out in the market. It requires a lot of deliberation and calibration of the strategy. With organization capacity and vision we need to move ahead as a joint team.
Emphasizing on the challenges, he said, the challenges which we are facing in the industry today are more from the regulatory perspective, customer, competition or coming together to telling an organization that you have to move out of your comfort zone. Hence, we looking today at the proliferation of technologies. Everyone is trying out, some of them have moved beyond the POC (Proof of concept) stage and some of them are still in the pilot of the POC stage.
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