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| Chip Wagner of Alsbridge, a solution provider at the marcus evans Chief Information Officer Summit 2015 and the Chief Procurement Officer Summit Fall 2015, discusses how organizations can prepare for a future being reshaped by autonomics. |
NEW YORK, N.Y., Aug 20, 2015 - (ACN Newswire) - "Robotics, autonomics and cognitive computing will alter the CIO's landscape more than anything else in the last decade," says Chip Wagner, Chief Executive Officer, Alsbridge. "Automation has historically focused on industries like automobile manufacturing, but is now extending into software engineering, IT support and customer services, as well as repetitive processes that are often outsourced to lower cost locations. Software agents that mimic human labor and perform functions better and faster than humans will allow us to move people upstream to perform higher value-add functions."
Alsbridge is a solution provider at the marcus evans Chief Information Officer Summit 2015 and the Chief Procurement Officer Summit Fall 2015.
- How can CIOs and CPOs support their organization in the transition?
The key is to be progressive and evaluate these radical new technologies and how they can be applied. Challenge the current environment to make the future more productive from a cost, speed and business support perspective. The fact is, cost dynamics will be radically altered in the very near future. The CIO who can leverage the opportunity will become a hero in the organization.
- What information do executives need to make informed business decisions on buying the products and services they need?
First and foremost, they need a clear business case and an understanding of the implications of the technology they are purchasing. If they are injecting new technology such as robotics into the picture, how will it impact their baseline cost? How will the business model change? What is the return on investment and the payback period?
They need to model the business case and how the new technology will impact the operating model, as well as assess what the economics will look like on the backside. This requires assessing new options and alternatives, and modeling and demonstrating the implications, risks and benefits of your choice.
- What tools can executives use to help them make informed decisions?
Benchmarking can be a valuable tool to gain insight into the existing environment and to assess the potential benefits of new technologies such as robotics. However, the experience that many CIOs have had with traditional benchmarks is that they are expensive, time-consuming and painful, and as a result many have concluded that benchmarks are not really relevant in today's rapidly changing environment. But the fact is that benchmarks have evolved dramatically and CIOs should be aware of this.
- Why has benchmarking traditionally been "expensive, time consuming and painful"? What has changed?
Traditionally, benchmarks have employed an antiquated "peer" approach, which requires collecting data from a group of businesses of the same size and in the same industry, and then artificially and subjectively modeling the company against those peers.
Another problem is that old-style benchmarks have required manual collection and analysis of data, involving significant resources and stretching the process out for months. And, benchmarks have only looked backwards, to a static point-in-time of historical performance. That is not very helpful today when innovations are happening on a daily basis.
Today, we see a movement to market-based benchmarks, which apply market standards to assess the function being benchmarked and are much more agile than the ineffective peer approach. Rather than comparing yourself against competitors, you compare against best-in-class.
In addition, collecting and analyzing data has been largely automated, and this is a game-changer. What used to take months can now be done in days or weeks. This makes the exercise faster, cheaper and more flexible.
Perhaps most importantly, we are now able to make benchmarks a forward-looking projection of future impact. By incorporating heuristics and regression analysis, we can do real-time assessments of how new technologies are impacting pricing today and six to 12 months from now. We can also base the projections on very limited data, which is critical with robotics, since it is an emerging field and data is by definition limited.
For more information please send an email to press@marcusevanscy.com or visit the event websites below:
Chief Information Officer Summit 2015
www.cio-summit.com/ChipWagnerInterview
Chief Procurement Officer Summit Fall 2015
www.cpo-summit.com/ChipWagner_Interview
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Please note that the Summit is a closed business event and the number of participants strictly limited.
About Alsbridge
Alsbridge provides clients the industry's fastest, most accurate and cost effective solution for price benchmarks cost benchmarks, performance benchmarks and contract benchmarks. Our deep databases of information from hundreds of clients and thousands of contracts enable us to benchmark price, cost, performance and contract terms across functional areas, industry verticals and geographies.
Alsbridge can deliver a benchmark in weeks instead of months, with relevant data modeled to the client's scenario, at as much as 70% below the market cost for a benchmark. www.alsbridge.com.
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: +357 22 849 313
Email: press@marcusevanscy.com
Topic: Trade Show or Conference
Source: marcus evans Summits
Sectors: Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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