Recently we welcomed Ravi Teja Bommireddipalli as our CEO. Ravi is a rare blend of engineering, business development, design thinking and transformational business strategy. Ravi is a global digital consulting leader with experience across diverse industries in the US, Europe, Africa, Asia and Australia.
Technology is evolving faster than ever before, and it has become critical but harder for enterprises to keep up with this dynamic technology landscape. According to a survey, rapid technology changes are a more prominent threat to global businesses, even bigger than the political or economic changes. However, today’s enterprises have to solve for a 2-fold challenge, changing industry dynamics owing to technology advancements and ever-changing consumer expectations.
In such a scenario, to stay competitive, enterprises will have to adapt and adapt faster than ever before.
Emerging technologies are making things exciting in every realm of life; things which were imagined only in fairy tales are becoming a reality today. Mobile made it possible to communicate with anyone we want to from anywhere and anytime, Virtual Reality is opening up possibilities to be anywhere we want to anytime we want to.
When the first commercial flight took off over a century ago, carrying 1200 passengers in a short span of 4 months, little did we know that airline industry is going to change the way people travel forever. Back then, it was a mode of travel only for the elite; the first air ticket ever sold was purchased for $400 (a sum that would be equal to $10,000 today). Today, air travel has become accessible to most and carries a humungous 3.6 billion passengers per year. The airline industry has not just seen an avalanche of passengers but also an immense shift in the way it operates, thanks to the new and exciting technologies impacting the airline landscape.
With billions of smartphone users across the world spending a humongous share of their day interacting with the device, every business is trying to get into the fertile land of mobile apps to engage with their customers. No wonder the number of apps in the app stores has skyrocketed to around 5 million. While every business big or small wants to get into the mobile platform, most aren’t sure of the investments they will have to make for a viable mobile app.
There are millions of apps out there in the app stores vying for users’ attention. The apps which do get downloaded are abandoned in an eye’s blink. Almost 77% of users never use an app again 72 hours after installing. Time spent on apps is also low with 34.1% of mobile app engagements lasting less than one minute.
In this scenario, how can app developers make sure that their apps are not just downloaded but are retained as well?
The first ever aeroplane took flight on 17th December 1903. Today, over a hundred years later, with 3.7 Billion passengers a year and delivering one-third of the world’s trade, the airline industry has come a long way.
With the growth of airline industry, the players have also mushroomed, each trying to win over customers by delighting them through value and innovation. The customer too expects something more with every flight they take. Airlines are stepping up their game with technology and are trying not just to meet customer expectations but exceed them.
In 2008, when we decided to enter the ‘mobile-app development-as-a-service’ business, little did we realize the extent to which the industry would change in less than 10 years. At launch, the App Store had just about 550 applications and a majority was paid (with most ranging from $0.99 to $9.99). The novelty factor of apps and the App Store drove the thinking behind app concepts back then. So we had apps which let out funny sounds when you waved the phone, mimicked a glass of beer and so on. Enterprises saw the benefit of getting on to the platform with news, finance and soon, e-commerce leading the way. Over the years, businesses have embraced mobile apps largely as a necessity than a fad.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” – Charles Darwin
In today’s world, the above quote stands true for businesses as well. Digitisation is changing the landscape of every industry, and industries which are ready to adapt, and adapt fast will be the ones who will survive and flourish. Just like many other industries, the healthcare landscape is also seeing transformation owing to technology advancements.
If you ask every executive in America about their top priorities this year, chances are the wide majority of them would say: digital transformation. No different than in 2016 when half of all business leaders thought the same.