Digital Innovation Magazine - June 2024

SENIOR LEADERS FROM ZS AND AMAZON WEB SERVICES JOIN US TO DISCUSS END-TO-END TRANSFORMATION IN THE PHARMACEUTICAL INDUSTRY TO PRIORITISE PATIENT OUTCOMES FROM DISCOVERY TO DEPLOYMENT AND BEYOND

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FROM THE EDITOR

Welcome to the June 2024 edition of INNOVATION Magazine!

e’re bringing you four exclusive interviews this month, together with the latest global technology news and features.

For our cover interview this month, I speak to senior leaders from ZS and Amazon Web Services (AWS) about placing patient outcomes front and centre in the pharmaceutical industry: from discovery to deployment and beyond. It was my pleasure to sit down with Kapil Pant, Global Head of Enterprise Data Management & Analytics and Asheesh Shukla, Managing Principal at ZS, along with Dennis Lauth, Head of Life Sciences Commercial Strategy & Solutions, and Chris McCurdy, Chief Architect for Healthcare and Life Sciences at AWS to dive into pioneering transformative cloud-based solutions to help modernisation along the entire life science value chain and reimagine care delivery ( Bogdan Iliescu, Vice President of IT Products at METRO.digital joins me to explore how the company is wielding new technologies and transforming its supply chain to disrupt the retail industry, driving growth and enhancing customer experiences (

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Innovation Magazine is a specialist technology platform with over 166,700+ readers.

Our community consists of C, V and D level executives from a wide range of industries. A unique blend of thought leadership interviews and features that cover digital transformation, cloud & cyber, enterprise IT, artificial intelligence, machine learning and sustainability.

I sit down with Nishith Srivastava, Vice President of Continental Europe at Tech Mahindra, who shares his insights into the company’s approach to innovation of ‘Looking Inside the Box.’ Nish believes this methodology signifies a paradigm shift – a huge step towards innovation rooted in practicality and customer-centricity, redefining how businesses perceive and embrace innovation in the digital age

Swagat Choudhary, Global Director – Perfect Digital Store of Mars Wrigley offers his insights on the creative transformation journey based on his 21-year career at the forefront of new-age marketing, constantly looking for ways to make it better for people, businesses and the world (

Our features this month cover how AI is transforming the FinTech sector ( shopping experiences in enhancing e-commerce strategy ( ), research revealing the top ten most successful startups of the decade ( ), insights from a recent whitepaper on the potential of ) and five major takeaways for the MedTech industry from the Future of Digital Health 2024 report (p92).

is Soley – the company using product mining to help companies with p100

Please enjoy our latest edition. If you would like to be considered as an interviewee or you have a story for us to include, please do get in touch.

editorial@ithink.media connect with me on LinkedIn.

+44 (0) 203 890 1189 enquiries@ithink.media

Senior leaders from ZS and Amazon Web Services discuss clouddriven innovation in the pharmaceutical industry

Bogdan Iliescu highlights supply chain strategy

METRO.digital’s growth innovation

Revealed: the most startups of the past

30

Five ways AI is transforming the FinTech sector 68

22

48

Elevate your e-commerce strategy with live shopping experiences

38 highlights the strategy behind growth and

58 successful decade

100 JUNE 2024 transforming

Exclusive Q&A with Swagat Choudhury, Global Digital Commerce Director of Mars Wrigley

Meet Soley, our Startup of the Month

Nishith Srivastava on Tech Mahindra’s cutting-edge approach to innovation

82

Discover the potential of WiFi 7, the latest generation of wireless networking technology

92

Key takeaways from Boston Consulting Group’s Future of Digital Health 2024 report

PUTTING PATIENTS FIRST WITH CLOUD-DRIVEN PHARMACEUTICAL INNOVATION

Senior leaders from ZS and Amazon Web Services (AWS) join us to discuss end-to-end transformation in the pharmaceutical industry to prioritise patient outcomes from discovery to deployment and beyond.

LIFE SCIENCES ORGANISATIONS MUST

LEVERAGE DATA-DRIVEN INSIGHTS TO MAKE INFORMED DECISIONS THAT DRIVE INNOVATION, OPTIMISE OPERATIONS AND IMPROVE

PATIENT OUTCOMES ACROSS THE HEALTHCARE CONTINUUM.

owever, unlocking the full potential of data analytics while maintaining regulatory compliance and data privacy is a significant challenge.

Through a powerful collaboration, ZS, a leading consulting and technology firm, and Amazon Web Services (AWS), the world's most comprehensive and broadly adopted cloud, are pioneering transformative cloud-based solutions to help modernisation along the entire life science value chain and reimagine care delivery.

In this exclusive interview, industry leaders from ZS and AWS discuss the cutting-edge innovations developed using AWS to transform drug discovery, clinical trials, commercial operations, manufacturing and

supply chains as well as patient services.

Today, we are joined by Kapil Pant, Global Head of Enterprise Data Management & Analytics, Asheesh Shukla, Managing Principal at ZS, Dennis Lauth, Head of Life Sciences Commercial Strategy & Solutions, and Chris McCurdy, Chief Architect for Healthcare and Life Sciences at AWS.

The executives explore how AWS’ secure, scalable and cost-efficient cloud infrastructure powers ZS's advanced data and analytics capabilities. They delve into use cases demonstrating how these cloud-native solutions enable pharmaceutical companies to extract powerful insights, enhance decision-making, increase

operational agility and deliver improved health outcomes.

Co-Innovating for Improved Patient Outcomes

ZS’s work with AWS is founded on a shared passion for leveraging cloud technologies and data-driven insights to help transform patient care across the healthcare ecosystem.

“AWS is one of our key collaborators,” states Kapil Pant, Global Head of Enterprise Data Management &

Analytics at ZS Associates. “Our complementary expertise allows us to co-develop differentiated solutions that unlock value for clients spanning the pharmaceutical value chain and broader healthcare domains.”

Asheesh Shukla, Managing Principal at ZS, highlights two central pillars of the collaboration. “First, we are connecting fragmented patient experiences by integrating structured and unstructured multimodal data while upholding stringent compliance and privacy standards. Second, we

are empowering last-mile care by translating data-driven insights into enhanced patient services and optimised care journeys with agility and responsiveness.”

“ZS and AWS both prioritise customer-centricity,” Asheesh adds. “This innate focus on those we serve – patients, providers and the healthcare industry – is tremendously beneficial as we innovate together.”

Dennis Lauth, Head of Life Sciences Commercial Strategy & Solutions at AWS, explains the complementary value proposition. “Our collaboration combines ZS's deep domain proficiency with AWS’ transformative technologies and enables a shared vision of an integrated, frictionless healthcare system powered by interoperable data,” says Dennis. “For

over 17 years, Amazon Web Services (AWS) has delivered innovative cloud solutions to millions of customers globally across diverse use cases. More than a decade ago, AWS launched a dedicated healthcare and life sciences practice focused on unlocking the power of health data and transforming the life science value chain enabled by cloud technologies.”

Chris McCurdy, Chief Architect for Healthcare and Life Sciences at AWS adds, “We have developed an array of purpose-built, HIPAAeligible solutions like AWS HealthLake, AWS HealthOmics and Amazon Comprehend Medical to help customers unleash the value of health data. At AWS, we believe technology can make healthcare better, faster, more equitable and sustainable.”

Complementing AWS’ transformative cloud technologies is ZS, a pioneering life sciences consultancy adept at solving intricate challenges across the R&D and commercialisation lifecycle. ZS combines deep domain proficiency with industry-leading solutions architected on the AWS cloud.

Dennis cites the growing demand for personalised healthcare experiences that improve outcomes, enhance patient journeys and reduce costs as a key motivator for innovating together.

“Nearly every customer I've spoken to within the last two years seeks to put the patient at the centre through connected, integrated care,” explains Dennis. “However, patients currently face a fragmented, siloed experience. We must transform care delivery by empowering patients and providers through technology-enabled solutions that leverage multi-modal data to decode complex patient journeys. AWS and ZS share a belief that cloud innovations can reimagine

care experiences and the entire pharmaceutical value chain.”

End-to-End Innovation

ZS aims to work with AWS to transform patient outcomes and use technology to remove frictions in the healthcare system. But how do they approach this ambitious goal? The answer lies in end-to-end innovation, from discovery to deployment and beyond.

“R&D is a vast space, and at ZS, we see the research and development aspects as distinct, each with its own unique characteristics and requirements,” says Asheesh. “However, at the very start of the process, we bring the patient into the core of our R&D endeavours, which implies three critical factors.

“The first factor is productivity. We must consider how to leverage existing patient data to inform both the R&D and clinical sides of care,” says Asheesh. “The second factor is

“Our complementary expertise allows us to co-develop differentiated solutions that unlock value for clients spanning the pharmaceutical value chain and broader healthcare domains”

Kapil Pant, Global Head of Enterprise Data Management & Analytics at ZS

precision, ensuring highly accurate information to support the discovery of new molecules, the development of targeted product profiles, and the addressing of unmet market needs. The third and most crucial factor is the patient experience, putting the patient first at every stage of the journey.”

Elaborating on ZS’s work with AWS to promote productivity, precision, and patient experience, Asheesh describes how the two companies collaborate and harness data-driven insights and technology to serve patients better. Using patient experience and precision within the R&D process as examples, Asheesh highlights critical challenges in the journey, including awareness, engagement and representation –areas where ZS and AWS are working to drive meaningful change.

“When a patient participates in clinical development, three major challenges are how they find a relevant trial,

how they engage in the process, and how healthcare stakeholders engage with patients,” says Asheesh. “This is a significant focus area, where we prioritise enhancing the patient experience through a multitude of technologies. This includes providing cloud-based digital solutions that can be built and deployed at scale to facilitate and streamline the two-way communication between researchers and trial participants. This not only alleviates friction points and lowers barriers to patient’s involvement in trials, it also promotes transparency, reduces the risk of missed appointments or data gaps, and fosters trust between all stakeholders.”

Turning to the precision element of the patient-driven approach to R&D, Asheesh emphasises the need to target ideal patients for improving outcomes.

“Technology helps to mine through a plethora of structured and

“AI-powered solutions can help to intelligently match patients against the complex inclusion and exclusion criteria of clinical trials”

Asheesh Shukla, Managing Principal at ZS

unstructured multimodal-multiomics data to identify patients who might benefit most from these therapies,” says Asheesh. “AI-powered solutions can help to intelligently match patients against the complex inclusion and exclusion criteria of clinical trials. These criteria often involve intricate combinations of factors, such as age, medical history, comorbidities, genetic markers, and laboratory values, making manual assessment challenging and prone to errors. By augmenting this process, AI can rapidly evaluate large patient populations, accurately identifying those who meet the eligibility requirements, to find suitable candidates and optimal trial locations for more effective recruitment, ultimately accelerating trial timelines, and bringing life-saving therapies to patients faster.

“Moreover, ZS is exploring ways to bring trials directly to patients leveraging AWS, ensuring awareness and facilitating participation, especially in areas like oncology, where patients are highly motivated to

contribute to the development process to support the advancement of new medicines.

“When it comes to precision, we should not only monitor patients participating in clinical development or trials but also do so with a deepseated respect for patient privacy and consent throughout the entire process. We are working with AWS to reshape how technology can help to capture patient consent in a frictionless way and enable seamless longitudinal follow-up of patients to carry forward the knowledge gained from them in the future without compromising their privacy or personal data.

“Recognising the health inequities that exist in society, ZS is working with AWS to proactively develop socially responsible solutions to aim to ensure that the patients targeted for participation in the global R&D processes represent a truly equitable cross-section of society. By enshrining diversity in patient recruitment based on factors such as race, gender, age, and more, the industry can bring more

real-world diversity into processes and products.”

Kapil emphasises the pivotal role of data-driven patient insights in driving healthcare innovation.

“Data is the key differentiator,” asserts Kapil. “Collaborating with AWS and our own broader company processes prioritise accurate, timely, and realworld data to inform, improve, and accelerate decision-making across the value chain. However, the true excitement lies in the future potential of leveraging data with a patientcentric approach – whether deploying it to simulate disease progression or assess precise treatment decisions, harnessing data and artificial intelligence will empower the entire healthcare sector to deliver better outcomes for patients.”

Chris underscores the importance of data in addressing major research and development (R&D) challenges in the

life sciences sector, particularly the industrywide declining return on investment from innovation and the substantial costs associated with failure during the drug development process.

“R&D in the life sciences industry remains highly challenging,” acknowledges Chris. “Over the past decade, we've witnessed a constant decline in the return on investment from innovation. There's immense pressure on the pharmaceutical industry to enhance efficiency and productivity, especially considering the rising costs of R&D. We estimate it takes $2-3bn to bring a new drug to market, and when factoring in the cost of failure, where only an estimated one in ten products make it through phase three trials, the total costs are staggering. Ultimately, the pharmaceutical industry needs to significantly improve overall efficiency and productivity in R&D.”

Chris emphasises the pivotal role of data in addressing these challenges:

“This is precisely where data can play a fundamentally important role in transforming the status quo. The life sciences sector handles massive volumes of data, from genomics to clinical trials, traditionally stored in onpremise environments. However, these environments are struggling to handle these demands and scale efficiently. From my perspective, this is one of the key advantages of the cloud, as only cloud-enabled technologies can effectively manage these massive data volumes. The cloud enables secure access to traditionally siloed internal and external data, enabling easy transformation of multimodalmultiomics data to uncover hidden insights in research data sets.”

Expanding on the advantages of AWS's purpose-built data solutions, Chris elaborates: “Multiple purposebuilt data solutions from AWS help customers make sense of all the data, enabling researchers with rapid data ingestion and processing. On top of this, you can apply advanced analytics, artificial intelligence, machine learning, and generative AI to transform data into actionable insights. For researchers, this is invaluable, as they are seeking more efficient and faster ways to make sense of data, run complex algorithms, simulate drug interactions or analyse longitudinal health data without any bottlenecks.”

Addressing the growing importance of data collaboration, Chris states:

“We are seeing in the industry that collaboration on data is becoming increasingly crucial. Many recent innovations in the life sciences industry stem from academia, necessitating seamless data collaboration between pharmaceutical companies and academic institutions, as well as within the industry itself. Collaborating on combined data sets is complex, as matching data securely often requires months of development time, and companies want to avoid sharing sensitive information.

“From the AWS side, this is why we have developed services like AWS Clean Rooms, which helps users more easily and securely analyse and collaborate on their collective datasets—all without sharing or copying one another's underlying data. This unlocks the true value of shared data – which is especially important for accelerating R&D.”

Building on the pivotal role of data in research and development (R&D) efforts, Dennis reiterates the burgeoning importance of artificial intelligence (AI) and machine learning for the life sciences industry.

“The promise and potential of AI and machine learning lie in their ability to decipher the intricate interactions between potential drug targets and human proteins,” explains Dennis. “Being a biochemist by education, understanding the complex and often elusive nature of protein-protein interactions has always been the holy grail in our field. Unravelling

“We must transform care delivery by empowering patients and providers through technology-enabled solutions that leverage multi-modal data to decode complex patient journeys”

Dennis Lauth, Head of Life Sciences Commercial Strategy & Solutions at AWS

the intricacies of these interactions requires a deep understanding of the structural and functional aspects of the proteins involved. By leveraging the latest advancements in deep learning and structural biology, AI models can predict the threedimensional structures of proteins with unprecedented accuracy, even for complex and previously uncharacterised proteins. And now, we can perform very complex simulations, which might have previously taken days or even weeks, in a matter of minutes. This is only possible with the power of the cloud, high-performance computing, and the application of AI and machine learning, which allows researchers to rapidly analyse vast amounts of data, including vast repositories of scientific literature and experimental data, to identify patterns, generate novel hypotheses, and simulate potential drug-target interactions to generate and evaluate promising drug candidates, advance precision

medicine, and ultimately accelerate discovery pipelines.”

Chris reinforces the importance of data as a differentiator to leverage the value of AI and machine learning and the challenges the industry needs to be prepared for in terms of scale.

“When we discuss the benefits of precision medicine as a means of enhancing research and discovery, as well as accelerating clinical trials, we cannot overlook the significant data challenges,” Chris asserts.

“The sheer size of a single human genome, which can reach up to several gigabytes, highlights the immense storage and processing requirements for handling this deluge of genetic information. Moreover, the number of stored genomes is expected to grow exponentially, with estimates suggesting that by 2025, the total number of stored genomes could reach 100 million or more. As sequencing technologies evolve and

improve, more and more data will be extracted from biological samples –further increasing the immense size of the raw data in only one example within the life sciences.”

Chris emphasises the industry's imperative to seamlessly manage this data challenge.

“For the industry, it is imperative to manage this data challenge seamlessly – not only processing and storing it but drawing value from it as well,” says Chris. “That is why AWS has developed AWS HealthOmics, a purpose-built service that helps healthcare and life science organisations store, query, and analyse genomic, transcriptomic, and other omics data at petabyte scale and then derive insights from that data to improve health. It is great to collaborate with organisations such as ZS to bring these services to customers and help them tackle their most challenging data problems.”

A Delicate Balance When Deploying Therapies

As therapies progress towards deployment, the focus shifts to ensuring patients gain timely access while balancing patient needs, improved outcomes, and the industry's commercial strategies. Here Asheesh, Kapil, Dennis and Chris explore this delicate balance.

Asheesh divides the deployment of therapies into three phases for

serving patient needs and improving outcomes: ‘Get,’ ‘Start,’ and ‘Stay’.

“'Get' means finding the right patients for the therapies. 'Start' is ensuring they begin their journey with the treatment. 'Stay' refers to keeping them on track with the treatments and ensuring they are right for the patients,” summarises Asheesh. “Within this, there are two interconnected aspects: the patient narrative and the provider narrative.

“The patient narrative involves navigating the ‘get, start, stay’ journey, while the provider journey unfolds in parallel, as they guide patients. Identifying potential patients in the ‘get’ phase leverages data capture across clinical care settings. Once identified, streamlining the onboarding experience through patient services is crucial, as an estimated 40% of patients never fill their first prescription due to systemic frictions. The ‘stay’ portion focuses on motivating patients to adhere to therapies, which may involve addressing pre-authorisations, side effect management, gamification or lifestyle changes. Simultaneously, providers must be aligned to drive optimal outcomes.”

According to Asheesh, joining the patient and provider narratives involves closing the gap between current practices and evidence surrounding new therapies or products.

“The industry is focusing its efforts on providers by engaging with them

to share compelling evidence and differentiated value new products or therapies bring to the market," says Asheesh. “It's all about convincing physicians to change their behaviours and adopt the best, evidence-based care practices – without friction, to secure the best care experience and outcomes for the patients.

“This process involves understanding providers' existing practices, inclination for change, learning channels, and overcoming obstacles to treatment adoption, such as patient access, reimbursement, and prescription writing. Leveraging data from multiple sources creates a ‘context stream’ around providers, enabling individualised influence rather than broad categorisations.”

Weighing in, Kapil emphasises the importance of a purposeful data strategy.

“A deeply considered data strategy is crucial,” says Kapil. “What are we trying to drive from our use case? What are the interventions we're doing across the patient lifecycle? How can we refine our processes to enhance patient outcomes? Beyond the strategy, we then must take the underlying insights and build patient data products and solutions, weaving in AI and machine learning, to increase the value of these underlying datasets. We have to bring all of these things together to execute our vision.”

Meeting patient needs must align with executing commercial strategies, explains Dennis. Solutions like the Intelligent Commercial Insights Foundation (ICIF) and Patient Analytical Hub (PAH) from ZS, running on AWS, are invaluable in this regard.

“Commercial teams need faster access to actionable insights, and this is still a

“What ZS built for customers with ICIF on AWS is a data mesh architecture to make it very easy for customers to unleash and democratise these insights, while simultaneously empowering them to make better decisions, faster”

Chris McCurdy, Chief Architect for Healthcare and Life Sciences at AWS

major struggle in the pharmaceutical industry,” says Dennis. “We deal with more complex data now – it's not only first-party data from customer touch points. It's longitudinal health data, de-identified patient data, electronic health records, claims data, real-world evidence, and many other sources. All those data need to be ingested and made comprehensible. Modern business users demand agility, speed, and accurate data quality to generate actionable and timely insights at their fingertips.”

Chris adds, “What ZS built for customers with ICIF on AWS is a data mesh architecture to make it very easy for customers to unleash and democratise these insights, while simultaneously empowering them to make better decisions, faster.”

“ZS has also built solutions like Patient Analytical Hub (PAH) for customers to manage the complex patient data ecosystem and provide a foundational environment for securely integrating

data sources and configuring business rules and data quality checks. This enables the right foundation data layers to enable sophisticated patient analytics,” adds Asheesh.

Beyond deployment, nurturing relationships with patients involves dynamics beyond purely medical factors.

“We need to pay close attention to patient outcomes after delivering new therapies,” says Asheesh. “Of course, we heed the clinical marker-based progression to see if therapies are effective. But there is more to this than a purely clinical focus – and we call this process non-medical marker-based tracking.

“This includes monitoring healthcare resource utilisation, disease burdens, quality of life, generating real-world evidence, and addressing non-medical factors like personal, social, and economic determinants of health.

Solutions like ZAIDYN™, developed

with data partners on AWS, aim to address care gaps and health equity by creating a level playing field.”

Wrapping up our conversation, Dennis circles back to the concept of placing the patient at the centre of the healthcare industry.

“When we think about this endto-end patient journey, with all the intervention points along the way

and opportunities to unleash data to better help patients, the last crucial piece of the puzzle is to think beyond point solutions,” summarises Dennis. “Integrated healthcare solutions offer numerous benefits by breaking down traditional siloes, facilitating better information sharing, coordinated care, and personalised interventions. This can lead to earlier detection, more effective disease management, improved patient engagement and adherence.”

Dennis emphasises the importance of integrating solutions into provider workflows.

“If the solutions are not seamlessly accessible for the providers, they will fail,” Dennis warns. “If the solutions are integrated into core elements like electronic health records or daily use workflows, you reduce the friction from the provider side to use the digital health solutions. Only by making it frictionless for patients, providers, and other healthcare stakeholders can you unlock the full potential of integrated care, leading to improved patient outcomes, increased efficiency, and a more sustainable healthcare system.”

Looking ahead regarding the future of ZS and AWS’s work together, Asheesh believes there is no limit to the potential.

“We are doing a fantastic job leveraging AWS technology” says Asheesh. “Our goal for the future is to strive even further along this path with AWS to build cloud-enabled, integrated solutions for patients and their providers, addressing the fragmented nature of healthcare today while also helping the industry modernise their entire value chain with data and technology.”

Dennis highlights the shared objective as the driving force behind the collaboration's success. “The most important thing is to have the same purpose. What I love about our collaboration with ZS is we are

driven very much by a joint belief that technology has the power to make healthcare better, faster, more equitable and more sustainable.”

Chris echoes the sentiment, emphasising the focus on seamless deployment and customer empowerment. “We will continue to work with ZS to innovate as they bring solutions for healthcare and life sciences that aim to transform the industry along the entire value chain,” says Chris. “We also want to develop solutions that are seamless for customers in terms of deployment on top of their existing IT infrastructure.

“ZS’s solutions being deployed in the customer’s AWS environment is a strength, allowing customers to better control and own the solution roadmap for further evolution and enrichment while enabling cost-effective scaling and the needed flexibility to customise, drive adoption, and integrate with their existing capabilities. We believe that in order to address all the significant challenges the industry is facing, customers need to build comprehensive enterprise capabilities with the help of partners and then enrich and scale from there to empower use cases along their unique value chains to create the intended impact.”

To learn more about ZS and AWS, visit their websites: zs.com and aws.amazon.com.

Disclaimer: Article is sponsored and paid for by ZS.

Bogdan Iliescu, Vice President of Product - Supply Chain at METRO.digital on the company’s strategies for supply chain and technological innovation, driving growth and enhancing customer experiences.

industry

In 1964, METRO opened as a cash-and-carry store in Germany. Sixty years later, METRO the leading wholesaler and partner for around 15 million customers in the hotels, restaurants and catering (HoReCa) industries, as well independent traders across Europe and

ETRO.digital is the tech product-led company of METRO which develops customised IT services and products worldwide for all METRO countries.

Speaking to us today about how the company is wielding new technologies and transforming its supply chain to disrupt the retail industry is Bogdan Iliescu, Vice President of ProductSupply Chain at METRO.digital.

To begin, he explains the METRO ambition – the company’s goal to reach €40bn in sales by 2030 – and the strategy behind that objective.

“The METRO ambition is driven by three main pillars: the wholesale stores, food service distribution (FSD) and the digital marketplace,” says Bogdan.

serve the traditional business while functioning as efficiently as possible for our FSD customers.

“In each and every pillar we are applying the latest technologies to drive success, and the same goes for every component of our supply chain. To improve forecast accuracy, for example, we’ve been using machine learning and AI models for the past three years. With this technology, we managed to improve the accuracy of our forecasts by more than 20% in the last year alone. This solution allows us to improve the stock availability to a level of around 97%.”

“When we talk about wholesalers, we’re talking big volumes,” says Bogdan. “We need to be efficient and to make the journey of the goods optimised in a way that both we and the customers can benefit from. To achieve this we are transforming our entire cash-and-carry METRO is around restaurants well as Asia.

“Our growth is driven primarily by the FSD sales, which are set to more than triple by 2030, leveraging our widespread network of more than 600 locations. That means the supply chain transformation is essential, especially around the stores’ transformation into multi-channel fulfilment centres. What we’re working on now is leveraging our assets to still

At METRO.digital, the purpose of putting this technology in place is to create an autonomous supply chain, streamlining operations.

operations and digital solutions to be autonomous and task-driven.”

For Bogdan, working on this process of transformation is a source of tremendous pride.

“We’re facilitating convenience in our customers’ lives,” he says. “Using the scan and go technology we’re embedding into our mobile apps is simple and saves time for our customers. They can shop, scan, go and locate the item and that’s it. It makes the process a nice experience for the customer, as well as making things easier for our employees. Everything has become more efficient by injecting technology into the equation.”

“Our IT strategy is built on the principle of ‘best of breed,’” says Bogdan. “Yes, we are a technology company. Yes, we are following best practice. Yes, we are continuously innovating our processes with datadriven strategies. But in the end, we know we cannot do everything alone, particularly in the area of workforce planning.”

One such boost for the company’s efficiency has been its work with intelligent software solution provider SISQUAL.

“People are at the core of our operations, so we wanted to make sure we were working with a professional partner to implement

“There are also a lot of legal regulations we must comply with, which SISQUAL has been great at working with. They’re open to new ideas, and we have collaborated in a terrific way”

a strong workforce planning solution. So, we decided to work with SISQUAL, who are expertly implementing these processes in accordance with our specific needs. It’s amazing what they can do.

“It’s not easy to be a worker in a store moving huge quantities of goods, so we want to ensure shifts are properly planned to serve not only the business, but also our people’s needs. There are also a lot of legal regulations we must comply with, which SISQUAL has been great at working with. They’re open to new ideas, and we have collaborated in a terrific way.”

For Bogdan, transforming the supply chain at METRO.digital has been another keystone to catalysing change for the business.

“Everything we’re doing, we do for our customers and their needs,” says Bogdan. “And this stems from the heart of the company, the supply chain. In an era of speed and labour force challenges – particularly in the HoReCa industry – you need a strong partner to supply you with the right assortment, the right quality

and the right quantity at the right time. And that’s what we’re doing at METRO. Our core proposition is to be a trusted partner of independent businesses, and that’s where the inspiration for innovation within the supply chain is coming from.”

However, this process of technological innovation is not done blindly.

“People take technology for granted,” says Bogdan. “It’s easy to do. There are so many ideas and so many things to do. But while we’re investing in new technologies, there’s one element that makes a difference. What METRO is doing is identifying the right opportunities and tackling them in a prioritised way using clear objectives and performance indicators. We’re always staying focused on doing what makes an impact for us instead of just delivering new features day by day.”

This philosophy towards innovation has helped the company grow at scale and will continue to drive growth in the years to come, Bogdan believes.

“When I look to the future from a METRO.digital perspective, it’s a matter of being consistent on the road to building extraordinary products,” says Bogdan. “Technology is evolving, as are the opportunities that come with it. We are continuing to leverage technology to create

game-changing solutions for our customers. At the end of the day, it’s a marathon that we need to run together to deliver quality to our customers – not a sprint.

“In supply chain, we’re focusing on doing what creates excellence for the business and the customers. That way, the innovation will continue finding ways to make even more use of the technology to reduce both the physical and cognitive load on our workers.”

These workers, Bogdan concludes, are crucial to company growth and the development of a flourishing culture at METRO.

“When I talk about METRO. digital, first I like to look at the passionate people on our team,” says Bogdan. “It’s a multicultural business, with a lot of nationalities across our locations in Germany, Romania and Vietnam. There’s a wide spectrum of knowledge and culture, but what’s consistent is the value of respect and the drive to grow and learn. I’ve climbed the ladder at METRO step by step and each day I’ve felt supported and felt that I learned something new. I’ve been in the company for 12 years, and I’m enjoying it now as much as I did on my first day.”

For further information on METRO.digital, visit metro.digital.

ADDED VALUE

Further reading

“I think we are responsible for our own growth, and the growth of others,” says Bogdan. “I’m always considering how I’m supporting my people’s growth and development while providing them with new opportunities. To help this development, I always encourage people to read Empowered by Marty Cagan, which delves into innovative approaches to delivering technology to transform businesses. But mental development is equally important. I found that reading When the Body Says No by Gabor Mate made me very aware of a lot of things working deeply inside the body. I enjoy reading and learning about psychology in this way, as it helps me know myself and my journey better.”

Leading success

“I used to be a football referee, which was an amazing learning opportunity,” says Bogdan. “Doing this taught me what it means to be fair and taking responsibility. That experience of guiding and supporting has shaped me to this day.”

Connect with Bogdan

5 exciting ways AI is transforming the FinTech sector

AI algorithms are overhauling traditional banking operations.

The integration of AI in FinTech is revolutionising the way financial services are delivered, leading to greater efficiency, personalisation and technological innovation. As AI technologies continue to evolve and mature, the finance industry will likely witness even more disruptive changes.

Here are five ways AI is revolutionising FinTech:

Increased accuracy in fraud detection: 1.

One of the most significant uses of AI in the finance industry is for fraud prevention. Traditional fraud detection methods often struggle to keep up with rapidly evolving tactics, but AI algorithms can analyse vast amounts of data in real time, spotting patterns and anomalies that may indicate fraudulent activities. As AI-powered fraud detection services learn and adapt, they can identify intricate relationships and correlations that would be difficult for humans to discern, preventing even the most sophisticated fraud attempts.

Intelligent process automation

AI is automating various financial processes, streamlining operations and reducing the risk of human error. Intelligent process automation (IPA) combines AI with robotic process automation (RPA) to automate complex and knowledge-intensive tasks such as document processing and data extraction.

AI is enabling financial institutions to provide highly personalised services tailored to individual customer needs. By analysing customer data, including transaction history, spending patterns and investment preferences, AI can deliver personalised recommendations, product offerings and financial advice.

Personalised financial services

Credit risk assessment 4.

The way financial institutions assess credit risk and make lending decisions is being transformed by AI. Traditional credit scoring models often rely on limited data sources and may fail to capture the full picture of an individual or a business’ creditworthiness. However, AI can analyse a wide range of data sources including social media activity and transactional data. This comprehensive overview enables more accurate and unbiased credit risk assessments, leading to better lending decisions and reduced default rates.

Compliance with financial regulations is a crucial aspect of the finance industry, and AI is playing an increasingly important role in ensuring adherence to these regulations. AI systems can analyse vast amounts of data, including financial transitions, communications and documents to identify potential compliance violations or suspicious activities. These compliance solutions can also automate the process of monitoring and reporting, ensuring that financial institutions meet regulatory requirements in a timely and efficient manner. This minimises the risk of noncompliance while reducing the burden on compliance teams, allowing them to focus on more complex and strategic tasks.

Source: Trantor

Looking Inside the Box: Contextualising Innovation for Digital Transformation

Nishith Srivastava, Vice President of Continental Europe at Tech Mahindra, divulges the company’s approach to innovation of ‘Looking Inside the Box.’ Nish believes this signifies a paradigm shift – a shift towards innovation rooted in practicality and customercentricity, redefining the way businesses perceive and embrace innovation in the digital age.

In a dynamic landscape defined by rapid technological advancements, Tech Mahindra stands at the forefront of innovation. With a steadfast commitment to delivering transformative solutions, the company adopts a unique approach – one that involves 'Looking Inside the Box' to contextualise innovation.

At the helm of this endeavour is Nishith Srivastava, Vice President, Europe at Tech Mahindra, who provides invaluable insights into the company's strategic deployment of innovative solutions devoid of mere buzzwords. With over 146,000 employees across 90 countries, Tech Mahindra has emerged as a global leader in IT

“Embracing new technologies is imperative for companies seeking to transform and stay ahead in an ever-evolving landscape”

Nishith Srivastava, Vice President of Continental Europe at Tech Mahindra

consulting and services, boasting specialised domain verticals catering to diverse technological needs.

Amidst this vast landscape, there exists a unifying horizontal – the BORN XDS. This integrated entity, comprising 31 niche agencies acquired over the past five years, serves as the backbone for Tech Mahindra's CX, eCommerce, Experience Design and MarTech transformation services.

Nish joins us today to unveil his comprehensive approach to innovation, emphasising the need to transcend buzzwords and delve

deeper into the core of technological evolution. For Nish, innovation is not just about adopting new technologies – it’s about understanding the problem at hand and crafting tailored solutions that resonate with specific business objectives.

“Embracing new technologies is imperative for companies seeking to transform and stay ahead in an ever-evolving landscape,” says Nish. “To harness the full potential of any technology, be it AI, composable commerce, or marketing automation, it's essential to conduct an introspective analysis.

“Look within your organisation, examining your business landscape, IT infrastructure, and intricate processes, envisioning the ideal future state. From there, draw inspiration from exemplary use cases, both within and outside your industry, to tailor solutions to your specific needs.

“Merely because a competitor adopts AI doesn't necessitate immediate replication. Instead, consider alternative approaches. Perhaps your challenges could be more effectively addressed through advanced data analytics tools. Prioritise enhancing your data science capabilities and optimising existing analytics tools before layering AI for incremental outcomes. By following this strategic sequence – first optimising your analytics foundation and then integrating AI – you can derive enhanced effectiveness and achieve incremental gains in performance and efficiency.

“This underscores the critical importance of ‘Looking Inside the Box.’ By this, I mean thoroughly assessing your organisation's pain points and business requirements in relation to your existing technology stack. It's imperative to optimise this infrastructure to its fullest potential, extracting maximum effectiveness before considering any transformative measures.

“Only after this foundational optimisation should you embark on the transformation journey. This involves evaluating, defining outcomedriven use cases and selectively introducing new technologies into your ecosystem. The objective and key results (OKR) framework serve as guiding principles throughout this process, ensuring alignment with overarching business objectives.”

The initial step towards meaningful innovation, Nish advises, involves gaining a deep understanding of emerging technologies and evaluating their relevance through the prism of specific business goals. “Immerse oneself in the best use cases of these new technologies across verticals,” says Nish. “This broader perspective enables businesses to contextualise these new technologies and their logical use cases within their unique operational framework.”

"That being said, we expect your priorities to change over time as the business or market evolves. You just need to be sure your technology will support this. For instance, Spryker, our partner for B2B e-commerce, has an innovative and extensible platform which allows us to keep evolving as needed. We can adjust processes and add capabilities based on what we're learning or depending on what new developments are happening at the customer. That's why within a very short space of time they’ve placed themselves in the top league of e-commerce platform companies.”

Here, Nish introduces Alexander Graf, Co-Founder and Co-CEO at Spryker, a valued strategic partner of Tech Mahindra and BORN XDS.

“Technology is the enabler not the driver of business transformation,” weighs in Alexander. “To remain competitive and responsive in an ever-evolving market landscape, businesses must continuously adapt their processes to meet changing market demands and customer expectations. The need for flexibility and agility has never been more important. At its core, Spryker’s composable technology enables enterprises to continually adapt

and innovate their e-commerce in response to shifting market demands, essentially future-proofing their business and enabling enterprises to continuously differentiate.”

Once a company has identified its business requirements and identified the technology’s relevance to its business strategy and consumer expectations, BORN XDS employs a structured approach to implement the transformation approach. Nish

“Technology is the enabler not the driver of business transformation”

Alexander Graf, Co-Founder and Co-CEO at Spryker

Lead Tomorrow’s E-Commerce Market with Spryker’s Agile Commerce Solutions.

The global business landscape is evolving at an unprecedented pace, making adaptability more critical than ever before to stay ahead of the curve. Spryker’s composable commerce platform offers unparalleled agility, enabling your business to respond quickly to new market trends and consumer demands.

With Spryker, enterprises can optimise and scale their commerce operations seamlessly, fortifying their operational excellence and competitive edge. Are you ready to embrace a solution that accelerates innovation and equips you to face future challenges confidently?

LEARN MORE

outlines the following clear steps:

1. Comprehensive Auditing

2. Market Analysis

3. Roadmapping

4. Implementation Planning

By following these systematic steps, BORN XDS ensures the seamless deployment of innovative solutions tailored to meet the client's specific objectives such as driving revenue, creating efficiencies, cost-

effectiveness, client-centricity and employee empowerment.

“Every brand aspires to offer premium services, surpassing customer expectations and setting new benchmarks for brand experiences,” says Nish. “At BORN XDS, we believe in reaching for the stars—this mantra encapsulated in the acronym ‘STARS,’ standing for Strive to Achieve Record Sales. It's the reason we've christened our framework ‘STELLA,’ deriving its name from the word ‘star.’”

STELLA Framework

But how does the STELLA framework function?

“In the first layer of STELLA framework lies the Brand Experience (BX) layer, where brands craft their identity and expression across all omnichannel touchpoints,” explains Nish. “BX encompasses a strategic approach, defining the markets served, the path to competitive dominance, tone of voice, customer segmentation, user journeys, and competitive analysis, among other elements. Upon closer examination, four pivotal experiences emerge within this layer:

• Attracting a Prospective Customer

• Engagement with the Customer

• Performing Transactions

• Reacting to Feedback

“Enabling technologies and platforms within this layer include eCommerce, Digital Experience Platforms (DxP), Marketing Automation, Performance Analytics, and Campaign Management systems. These technologies play a crucial role in empowering brands to deliver exceptional brand experiences and

drive customer engagement and loyalty across diverse channels.

“The second layer is for Behavioral Experience (BE) to leverage insights into how your audience seamlessly engage and transact across all omnichannel touchpoints. These touchpoints encompass websites, mobile apps, retail stores, print, events, social media, and IoT devices. The BE layer delves into understanding the reasons behind and mechanisms driving people’s behaviours across diverse omnichannel touchpoints.

“Key enabling technologies and platforms in this layer include Customer Data Platforms (CDPs), Digital Asset Management (DAM) systems, Product Information Management (PIM), Order Management Systems (OMS), Cloud infrastructure, Security protocols, Data and analytics tools, Artificial Intelligence (AI), MarTech solutions and Automation solutions.

“In the third layer, known as the Books of Record (BR) layer, STELLA serves as the nexus connecting two outer layers with systems of record. i.e. Customer Relationship Management (CRM) systems capturing interactions and engagements with customers across various touchpoints. Next, the focus shifts to the back-office operations, particularly order orchestration between channels, facilitated by Order Management Systems (OMS). Enterprise Resource Planning (ERP) systems manage processes ranging from order to cash, procure to pay, and other vital financial metrics that

underpin the brand's financial stability, customer satisfaction, and supply chain efficiency.”

By utilising these layers with data science disciplines such as analytics, insights, and cognition, the STELLA framework catapults the overall user experience, serving as a cornerstone for informed decision-making, driving personalised experiences, operational efficiency, and long-term customer satisfaction.

“It’s not about theory, it’s about making it operational and effective,” says Nish. “A lot of ideas fall apart

ADDED VALUE

when rubber hits the road. We do a comprehensive feasibility analysis encompassing cost, effectiveness and cultural considerations. The key focus is on ensuring that the chosen technology aligns seamlessly with the existing infrastructure and processes. A smooth transition is paramount, and to achieve this, BORN XDS develops a detailed step-by-step blueprint. This blueprint covers all aspects of the transition, including employee education, support infrastructure, costs, timelines and other critical factors.

Learn more here.

Connect with Nish Fun Fact

Nish is crazy about aliens: his favourite show is Ancient Aliens which reconfirmed his belief that humankind on planet earth is a science experiment by aliens. There is a strong belief that very soon, aliens will make contact with us, and he hopes it happens in his lifetime.

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How could live shopping experiences elevate your e-commerce strategy?

A survey from Agora revealed consumers are looking for more interactive online shopping experiences.

Agora, Inc. (Agora), a pioneer and leading platform for real-time engagement APIs in the interactive live shopping sector, recently announced the results of a commissioned study examining consumer perceptions surrounding live shopping.

ive shopping is anticipated to grow into a mainstream online retail avenue, significantly transforming the consumer shopping experience. As retailers and marketplaces strategically position themselves to harness this burgeoning trend, they are shifting focus to curating immersive, unforgettable experiences that transcend the digital realm and provide a competitive edge in the evolving marketplace.

“To create successful live shopping experiences, online retailers and marketplaces must

first understand their customers' behaviour, preferences and motivations,” says Joe Kwong, Director of E-commerce at Agora. “Through these insights, they can enhance interactivity and curate exclusive offerings that truly resonate with customers, going beyond selling products to create immersive experiences that redefine retail as we know it.”

For the study, Agora surveyed over 1,000 consumers on their perception of interactive livestream shopping events, uncovering divergent views on interest, benefits and influential factors across different age groups.

Here's a closer look at what they found:

Shifting Tides in E-Commerce

Interactive live streaming shopping experiences are quickly becoming a cornerstone in the future of e-commerce, with nearly half (46%)

of respondents expressing interest in live stream shopping events. However, despite this increasing popularity, 28% of consumers continue to favour traditional online shopping, while only a quarter of respondents don't see the appeal of live shopping events at all.

Taking a deeper look at these trends the survey revealed intriguing age-

based differences in attitudes and perceptions towards live interactive streaming shopping events, with 61% of the under 55 group showing interest in live shopping experiences, while 71% of the 55+ group were uninterested or preferred traditional online shopping.

Despite these differences, product demonstrations, exclusive deals

and convenience emerged as key influencing factors across age groups.

“While younger consumers are more receptive to the immersive and interactive nature of live shopping events, older shoppers' reluctance to embrace this new format underscores the need to strike a balance between

“As we look to the future of online retail, it's clear that creating live shopping environments that not only prioritise convenience but also deliver engaging, immersive experiences is critical”

innovation and familiarity," says Joe.

“By tailoring their strategies to cater to the customers' diverse expectations, brands and retailers can create engaging and meaningful live shopping experiences that resonate across generations.”

Key Drivers for Live Shopping Engagement Identified

Convenience emerged as the predominant factor influencing consumer participation in these events as 40% of respondents highlighted ease of shopping as a primary motivator, underscoring live shopping events' ability to further enhance the online commerce experience.

Product demonstrations followed closely – 36% noted

the ability to see products in action as an influencing factor. Nearly a quarter attributed some form of interactivity such as engaging with influencers (15%) and interacting with other shoppers (9%) to their decision to participate in live shopping events.

“As we look to the future of online retail, it's clear that creating live shopping environments that not only prioritise convenience but also deliver engaging, immersive experiences is critical," said Joe. “Retailers who can successfully integrate features that centre real-time interactions and engagement will be well-positioned to thrive in the evolving landscape of live shopping and beyond. The key lies in striking the right balance between convenience and immersion, crafting experiences that seamlessly blend the two to meet the changing expectations of today's consumers.”

Real-Time Interaction and Entertainment Drive Live Shopping Appeal

Live commerce is rapidly becoming an important component of the online retail experience. According to the study, 27% of consumers see the

ability to inquire and receive instant feedback as the principal benefit over traditional online shopping. The entertainment factor is not far behind, with 21% of shoppers finding live streams more engaging and fun, transforming shopping from a chore into an experience. Additionally, 23%

are interested in exclusive deals which are often only available during these events.

“Consumers are waiting for that additional nudge when making online purchases – a demonstration of value, an assurance of convenience, or

perhaps a personalised experience that can pull them fully into the fold of a live shopping experience,” says Joe. “They're seeking more than transactions: they're seeking connections. Live shopping's interactive nature satisfies this desire, turning shopping from a solitary task into a shared experience.”

Source: Agora

PEOPLE, PROCESSES AND TECHNOLOGY Balancing DURING CREATIVE TRANSFORMATION

In his 21-year career, Swagat Choudhury has been at the forefront of new-age marketing, constantly looking for ways to make it better for people, businesses and the world.

wagat has worked across the breadth of retail, brand marketing, digital, media, content and e-commerce space. His last stint was a long 17 years with Diageo working across multiple markets, brands and digital business drivers. Swagat’s most recent achievement was to lead the digital content transformation at Diageo helping the company become more effective, efficient and sustainable.

He recently joined Mars Wrigley to lead the Perfect Digital Store experience in the Digital Commerce team. As Swagat says, “Digital Commerce has arrived to be the forefront of consumer experience that also drives instant conversion. It truly sits in the heart of the omnichannel experience.”

So what are the crucial steps to take before embarking on creative transformation?

“The word creative is confused with art and aesthetics,” explains Swagat. “People often believe they need to stand out to be creative. It is actually the opposite, you need to blend in seamlessly to deliver the business outcome and consumer experience. As the word transform indicates, you are remoulding something for a better outcome.

“So, the first step is to understand the challenge you are trying to address, to deliver a significant outcome. If you do not have this clarity, do not proceed.

“Yes, the shiny new technologies and trends will distract you, but stay focused until you make your creative transformation a shining star for your organisation.

“Only when you have clarity on the challenge and outcome, then explore multiple paths to realising your objective, including the current approach. Evaluate the pros and cons of each option. Remember what you have defined as the outcome in step one. Take help from your peers and partners as you may not be able to envision all opportunities. Also at times, we resort to our favourite ideas.

“Once, as a core team, you have a feeling you know the right path (balancing guts, heart and brain) and have a clear plan for execution be very clear on the resources and time

it will take to execute. And remember to return to step one at every stage to ensure you are staying true to the outcome.”

Below, Swagat outlines some key guidelines for ensuring success:

• Embrace an agency as your success partner. Ban the work/ client servicing and use product partners/owners instead.

• Always stay compliant and responsible.

• Keep key partner teams aligned and feeling equally excited about the approach, timeline and resources.

Once the direction, desired outcomes and KPIs are set, innovators have to bring together people, processes and technology in order to execute creative transformation. Swagat believes that, for this process to be successful, it has to be straightforward.

“People, processes, technology and KPIs are integral parts of creative transformation,” says Swagat. “You cannot separate them. To bring forth lasting transformation, you should be able to explain the whole process in one sentence. For example: ‘These people will deliver this outcome, driving this KPI, using this process and technology.’ If you make it any more complicated then you will never be able to drive transformation. Of

course, this will need to be backed up in numerous details, but this single line should inspire people to want to spend hours on those myriad details.”

While Swagat stresses the importance of staying focused on the goal of any endeavour, he also emphasises the importance of keeping an eye out for additional opportunities along the way.

“We need to be aware that we will find many surprises throughout the process, but a good start and envisioning the outcome will definitely reduce them,” shares Swagat. “In a creative transformation process, it is critical to keep evaluating and being agile to adapt. On one hand, this will throw challenges we did not

anticipate, but it will also show you opportunities you never envisioned.

“In one of my recent projects, we started with a vision to create a governance platform (for execution) for media spending with CreativeX, but as we got deeper we realised this unlocks creative visibility, content performance blended with media impact and creative wastage mitigation to name but a few developments. And the learning goes beyond as the process we built was able to be used repeatedly in different parts of the business.”

Something that Swagat outlines as being key to empowering and enabling creative transformation is strategic partnerships.

“In today’s world, strategic partnerships are crucial,” says Swagat. “It’s important to clearly define your expertise and identify other necessary tools and people to achieve success. This is where we need subject and product experts who are passionate and committed to their field.”

Below, Swagat explores some decision dilemmas and how you can challenge them:

• If you or your team are excited to do it all, ask yourself ‘Is this my bread and butter? Am I good at this? Would it be more beneficial for me to learn from the experts?’

• If your generalist agencies want to do it, consider if it’s within their expertise. Sometimes a generalist agency can be a great change manager as you may be time or resource crunched. I have often used this model, and it works when they are clear on their role in getting stuff done.

• If your technology team wants to do it in-house, you need a clear commitment. Ask ‘Will you be committed to delivering in an ever-evolving tech environment?’

• Often, the right answer is making sure that you’re going to the partner who is the best for this specific need. This is their bread and butter, it’s what keeps them awake at night.

“IN MY EXPERIENCE, TOOLS LIKE DRAGONFLY GUARANTEE THAT YOU CAN PREDICT CUSTOMER ATTENTION WITH AI”

Swagat also offers some tips to nurture strategic partnerships for staying at the forefront of innovation:

• Build relationships beyond the project. Learn from them as a student. Give the partner the freedom to come back and tell you what else you should be doing and what more it will deliver.

• In a similar vein, give them feedback to participate in their evolution and development. Several times, I have helped partners understand their product games and, as a result, they built something that not only worked for me but also became a winning product that they could commercialise.

• Consider their team as an extension of your own and see how you can inspire them further.

To conclude, Swagat advises on the key areas of strategic partnerships he considers crucial for creative transformation.

“Partnerships within your teams and agencies to define change and outcomes are critical,” says Swagat. “Explore and make the most of the evolving ecosystem of insights using technology and AI. Today you have the tools to help you storyboard and test concepts in no time at all. You

should also bring in your creative agencies early to understand what technology tools you will use.

“In my previous role working with some of the world’s largest brands, we brought our creative agency into the journey well ahead for them to understand how we will be using virtual content productions. This ensured the right teams were brought in to deliver the project, driving ambition and efficient and agile content creation. It also allowed the agency to know what level of modular creativity they needed to develop.

“You should also make sure you have the right tech stack for content, virtual production and adaptation. This means you can adapt endlessly with fractional resources. Having the right tools is crucial to optimising your creative output. In my experience, tools like Dragonfly guarantee that you can predict customer attention with AI, and tools like CreativeX ensure that AI is testing millions of creative concepts and keeping them ready to perform. Last but not least, with the emergence of GenAI-led analytics, make the most of technology to help you generate insights to optimise.”

Connect with Swagat

The top ten most successful startups of the decade

The Startup Success Index analysed over 1,000 startups to determine the top performers.

ew data from the Startup Success Index by software development company Vention has revealed the top ten most successful startups of the decade. The Index was developed through the analysis of company valuation,

public perception of the company through search volume, growth score and the number of employees. Results for each category were converted into an overall score of 100 to determine the ranking.

In ascending order, here are the top ten most successful startups of the decade:

Source: Vention

Chime 10

Starting off the list is fintech company Chime, with an index score of 47.92. The company offers a fully digital baking experience, and is worth $20bn more than competitor Monzo.

In ninth place, with an index score of 52.84, is digital collaboration platform Miro. Formerly known as RealtimeBoard, the company was created to streamline remote team communication and project management. Miro

Epic Games 8

With an index score of 53.29, Epic Games takes eighth place on this list. The American video game and software developer has a value of $23bn with just over 4,000 employees, and is perhaps best known for Fortnite, one of the most-played PC games globally.

Canva 7

Although graphic design company Canva sits at number seven on this list with a score of 56.09, it had the highest score for public perception out of all companies listed. The company is also googled almost two-thirds more than the number one startup on this list, with over 98 million monthly searches.

Revolut 6

In sixth place is fintech startup Revolut, with an index score of 60.15. Headquartered in the UK, Revolut is a global neobank that offers banking services – including the buying, selling and exchanging of cryptocurrency – to retail customers and businesses.

Databricks

Valued at $10bn more than Revolut is Enterprise AI cloud data platform Databricks, with an index score of 60.82. The company offers a cloud-based platform that can help businesses to build and scale data and AI.

Stripe 4

Fintech startup Stripe ranks fourth, with an index score of 67.42. It has the fourth highest company value, at $65bn, and the fourth largest number of employees in the top 10, at 7,000.

OpenAI 3

In third place is ChatGPT developer OpenAI, with an index score of 76.56. The study revealed that the AI research and deployment company has the second-highest valuation at $80bn and the second-highest growth score at 8.98.

Despite having the lowest number of employees of the top 10 at just over 700, OpenAI has the fourth biggest monthly search volume of all the companies, with 10,574,600 global searches.

ByteDance 2

At number two, TikTok owner ByteDance had the highest valuation of any company on the list, with a value of $225bn. The company also ranked highest for its number of employees, with 50% more than the number one startup on this list, and scored the highest index score of ten for its growth.

SHEIN

Online fashion retailer SHEIN was ranked number one, scoring an impressive 87.12. The study revealed that SHEIN ranked in the top three for every category. Notably, the company is being searched for 277 times more than ByteDance, the second most successful startup of the decade.

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Exploring the potential with Heights

Take

Leading

telecommunications solutions provider Heights Telecom recently released its in-depth whitepaper Wi-Fi 7:

Unlocking a New Era of Wireless Connectivity.

The paper delves into the transformative potential of Wi-Fi 7, the latest generation of wireless networking technology.

While still in its early stages of adoption, Wi-Fi 7 stands poised to redefine wireless connectivity standards. Its significantly increased speed, reduced latency and enhanced network capacity promise unparalleled performance gains for consumers and businesses alike.

Heights Telecom's whitepaper explores the technical aspects of WiFi 7 but also examines its far-reaching implications. Here are the key benefits of Wi-Fi 7, as laid out by the whitepaper.

The need for speed

Increased network speed is one of the key features and primary improvements offered by Wi-Fi 7. This latest iteration of wireless technology provides the faster network speeds that both businesses and

consumers have been searching for. Wi-Fi 7 products are expected to have a maximum speed of 46 Gbps, approximately 4.8x the speed of Wi-Fi 6.

A stable connection

In the age of remote work, consumers’ home Wi-Fi networks

have to support more devices and network traffic than ever before. As a result, the need for a stable and reliable Wi-Fi connection where end users can efficiently access all the resources they require is paramount. As Wi-fi 7 products operate in a greater bandwidth than previous wireless technologies – doubling the existing bandwidth

to 320 MHz – they can allow more devices to be supported across the network.

Enhanced security measures

In an era defined by digital connectivity, cybersecurity now

“Wi-Fi

7 looks to provide a seamless connection while also fortifying the security infrastructure”

stands out as a crucial concern.

As connectivity solutions become increasingly ingrained in the fabric of everyday life – particularly amid the growth of ‘the smart home’ – connected devices will be increasingly at risk. The rise of Wi-Fi 7 looks to address these challenges, providing a seamless connection while also fortifying the security infrastructure – offering users peace of mind in an increasingly connected world.

Reliable low-latency performance

The growth of services such as augmented reality and interactive gaming is driving the need for increasingly robust performance among connectivity services. The emergence of Wi-Fi 7 offers a beacon of opportunity for CSPs. With its lowlatency performance, Wi-Fi 7 provides minimised delays and rapid data transmission to create a high-quality connectivity experience.

“The growth of services such as augmented reality and interactive gaming is driving the need for increasingly robust performance among connectivity services”

Connecting smart homes

For smart home ecosystems, Wi-Fi 7 is a game-changer. Its low latency and robust connectivity seamlessly manage the ever-growing number of connected devices, from smart speakers and thermostats to security systems and wearables. Imagine a truly responsive smart home, where devices anticipate your needs and function flawlessly in perfect harmony.

Unleashing productivity and efficiency with organisational benefits

While Wi-Fi 7 boasts impressive technical feats like Multi-Link Operation and low latency, its true power lies in unlocking organisational benefits. Picture

employees collaborating seamlessly through flawless video conferences and file sharing, unhindered by lag. Imagine a future-proofed infrastructure handling the inevitable rise of data-hungry applications and connected devices.

“The telecoms industry is on the cusp of a revolution, and Wi-Fi 7 is the catalyst, as a company committed to staying ahead of the technology curve, we understand the importance of building expertise in this cutting-edge standard,” says Christian Gabetta,

Managing Director of Heights

Telecom. “This whitepaper aims to serve as a valuable tool for our customers with a clear understanding of how Wi-Fi 7 will reshape the way we connect, work, and interact online."

Source: Heights Telecom

FIVE KEY TAKEAWAYS FROM BOSTON CONSULTING GROUP’S FUTURE OF DIGITAL HEALTH 2024 REPORT

The report offers predictive insights for those in the MedTech industry.

Source: Boston Consulting Group

GLOBAL MANAGEMENT CONSULTANCY BOSTON CONSULTING GROUP (BSG) HAS

RECENTLY RELEASED ITS LATEST FUTURE OF DIGITAL HEALTH 2024 REPORT.

Here are five key predictions from the experts for the future of the MedTech industry.

1

THE RISE OF OPEN-SOURCE SOFTWARE IN DIGITAL HEALTH WILL SHIFT THE NARRATIVE FROM TECH TO VALUE.

Over the past year, we have seen growing traction for open-source projects within healthcare from companies challenging the restricted access of the industry. With more consumer tech companies entering the healthcare arena, we will see opensource software becoming even more accessible and available to consumers of digital health.

These shifts will increase the competition for service providers and should reduce the costs of technology in serving patients.

DRUG AND DEVICE MANUFACTURERS ARE DEVELOPING USE CASES THAT IMPROVE KNOWLEDGE-INTENSIVE TASKS IN MANUFACTURING.

One example of AI-assisted document generation is the creation of annual product quality reviews, which involves automating the integration of policy guidelines, site-level pipeline data and relevant production data. This includes the generation of personalised content for physicians, pharmaceutical representatives and patients. Over the next year, BCG has forecasted more GenAI pilots within production, with increased adoption and scale.

3

WE WILL SEE MORE SPECIALISED DIGITAL MENTAL HEALTH AND WELL-BEING SOLUTIONS EMERGE.

Despite the huge investment in this space, there are still many extremely underserved areas that require more tailored approaches. Last year, we saw mental health and well-being propositions appear across chronic disease management, reproductive and fertility journeys for all genders, and bereavement and loss. Now, BCG predicts that we will see more tailored mental health and well-being propositions aimed at specific use cases and customer segments.

4

THE FEMTECH LEADERS OF 2024 WILL OFFER AN INTEGRATED, END-TO-END CARE PATHWAY FOR WOMEN.

As FemTechs race to become one-stop shops for women’s health, a big challenge is to scale quickly enough to provide comprehensive care pathways without compromising on the experience they offer. To succeed, FemTechs will need to join forces. The winners in this space will be those that can position themselves as orchestrators of the emerging ecosystems – using data effectively to personalise the patient experience and thoughtfully integrating with chosen partners.

THE NUMBER OF “VIRTUAL

WARDS”

WILL GO FROM THE TENS OF THOUSANDS TO THE HUNDREDS OF THOUSANDS.

The healthcare trend of virtual hospital wards is poised to revolutionise patient care through the use of remote monitoring, telemedicine and data analytics. Enabled by these advanced technologies, virtual wards will facilitate the continuous monitoring of patients, primarily through wearable devices, reducing the necessity for in-person hospital visits. With the potential to detect early warning signs and prevent hospitalisations, they are set to enhance patient outcomes and increase patient autonomy and choice while contributing to cost efficiency.

How Soley is using product mining to help companies with sustainable business success.

eading SaaS provider of Product Mining technology Solely GmbH (Soley) aims to optimise complex product portfolios through its intuitive product mining software. As one of SAP’s industry cloud solutions, it aids manufacturers in making informed decisions to enhance profitability and sustainability while reducing supply chain risks.

In volatile markets, it can be a challenge for manufacturers to successfully match supply with demand – and all too often, unnecessarily complex product portfolios make the task even more difficult. Many manufacturers don’t

performing well and complying with customers’ targets for lower carbon emissions, making it more difficult to declutter portfolios by phasing out the least profitable and sustainable products. The resulting product portfolio complexity makes it tough to analyse supply chain dependencies and identify and mitigate potential supply risks in a timely way.

Soley’s Product Mining Software transforms complex product data into actionable insights. Drawing on data from the ERP and Business Warehouse, the software analyses information such as product hierarchies, bills of materials (BOMs) and product carbon footprint. It then creates an enterprise digital twin using advanced graph technology to integrate the product data while identifying value patterns to automatically detect potential areas of risk. Finally, the solution digitalises and orchestrates decision-making processes, providing and documenting clear recommendations for portfolio optimisation.

“You

need to know which products are the most critical to the overall success of your business. Then you can focus on safeguarding the value chain for those products, taking proactive steps to avoid any potential supply risks”

Alexander Springer, CEO of Soley

With straightforward access to product performance insights and targeted action recommendations, manufacturers can make agile, data-driven decisions to optimise product portfolios, improve inventory management, and reduce supply chain risk.

Improved value chain transparency means they can deliver better service to their customers and support ongoing business growth. Meanwhile, comprehensive, real-time analysis at the touch of a button replaces days of tedious report preparation work. This improves employee experiences and frees staff to execute on decisions that deliver tangible financial, operational and environmental impacts.

The software’s key benefits and outcomes include:

• 10% increase in EBIT, optimising net working capital.

• 53% reduction in end-of-life products, increasing capacity for product innovation.

• One minute spent on BOM (bills of materials) analysis – down from 480 hours.

• 75% increase in delivery reliability and resilience, through proactive detection and mitigation of supply risks.

• 40% inventory reduction within nine months, increasing liquidity.

• Less than 12 months to achieve a return on investment.

“You need to know which products are the most critical to the overall success of your business,” says Alexander Springer, CEO of Soley. “Then you can focus on safeguarding the value chain for those products, taking proactive steps to avoid any potential supply risks.”

Learn more about Soley here.