Business Lab

The World Bank Group has a massive mission to “help developing countries escape poverty and share prosperity,” says Vijay Yellai, program manager for enterprise resource planning transformation at the World Bank Group. For example, it provides an wide array of financial products and technical know-how in a complex and ever-changing global setting. Therefore, for an institution like the World Bank Group, which provides funding and resources to countries with low bandwidth and infrastructure, IT modernization is no small feat. “So in an ever-changing environment–complexity, risk, and security threats with a global workforce–the World Bank is under pressure to do more with less,” says Yellai. He explains that the challenge is to increase real-time business, as well as quickly respond to changing needs of customers and employees. But also, Yellai continues, “security, risk, and data are key elements. Not to mention the continuous need for business intelligence and quick decision making.” T

Although the world population has continued to steadily increase, farming practices have largely remained the same. Amid this growth, climate change poses great challenges to the agricultural industry and its capacity to feed the world sustainably. According to the World Bank, 70% of the world’s fresh water is used in agriculture and droughts and heat waves continue to threaten crops. And that is where the challenge arises to feed the world while mitigating the environmental effects of agricultural practices. The answer to this challenge, according to Thomas Jung, head of IT Research and Development at Syngenta, is regenerative agriculture. Just as important as clean water and clean air, soil is the critical foundation of agriculture. The crux of regenerative agriculture is to grow more food with less environmental impact by enhancing the health of soil. “So not much has changed, but we need to feed more and more people,” he continues “How do we address this challenge of feeding the wo

The last five years have seen large innovations throughout drug development and clinical trial life cycles—from finding a target and designing the trial, to getting a drug approved and launching the drug itself. The recent use of mRNA vaccines to combat covid-19 is just one of many advances in biotech and drug development. Whether in preclinical stages or in the commercialization of a drug, AI-enabled drug development is now used by an estimated 400 companies and has reached a $50 billion market, placing AI more firmly in the life sciences mainstream. “Now, if you look at the parallel movements that are happening in technology, everyone’s in consensus that the utility of what AI can do in drug development is becoming more evident,” says senior vice president at Medidata AI, Arnaub Chatterjee. The pandemic has shown how critical and fraught the race can be to provide new treatments to patients, positioning the pharmaceutical industry at an inflection point, says Chatterjee. And that’s b

Memory and storage solutions for technology are built into our everyday life, from mobile applications, cars, health-care systems, and more. To meet that need and help propel innovation, Micron Technology said it would invest $150 billion into research and development to build factories for its semiconductor memory chips. This investment looks to expand not only the reach of memory chips but also to innovate new solutions to common problems, says Naga Chandrasekaran, senior vice president of technology development at Micron. “The day we stop innovating, not just in memory, but as a human race, the day we stop innovating, we stop progressing and that's not where we want to be. We want to continue to drive innovation,” says Chandrasekaran. With each iteration of new technology, from phones to cars, consumers are looking for improved performance, lower latency, more storage, and lower costs. Meeting these expectations means finding solutions at an atomic scale and making micro changes to

In any enterprise, digital transformation is not only a technology transformation but enables business transformation itself, driving new products, solutions and innovations. Having an efficient data strategy is critical to any successful digital transformation but requires careful investment into both people and systems. “To achieve that goal, availability of good data, of the right data, and availability of that to the right people and systems is very, very critical. So that forms the data strategy for any enterprise today,” says chief architect for data and AI services at Kyndryl, Sundar Shanmugam. Getting the most out of digital transformation investments means evaluating and optimizing agility throughout an enterprise to drive actionable insights, says Shanmugam. A strong data governance framework also goes a long way in keeping data high-quality. Often data governance primarily serves regulatory requirements. But truly effective data governance is holistic, he adds. Data usage, r

As more business, shopping, and banking is done online and from, well, anywhere, customers increasingly expect high-quality digital-first services that remove the need to go into a physical store or bank. “People were working from home, shopping from home, banking from home, and are more tech and digital savvy than ever,” says Mike Dargan, group chief digital and information officer for UBS. “And if you look at the financial services industry, the ecosystem is constantly evolving, so it becomes more competitive, open, connected, and location-independent every day.” Banks like UBS are experiencing a cultural transformation that makes technology itself integral to the business offering. Because technology is often the first—or only—medium via which customers encounter a business, the quality of that digital customer experience is key to the value it provides. To make that digital-first experience a differentiator for a business, Dargan explains, requires strategically and substantially i

A heritage financial services institution isn’t necessarily the first place a technologist looks to grow their career. But that hasn’t been a problem for JPMorgan Chase, which has made itself an appealing career destination for technologists. “Technology is not an afterthought,” says Gill Haus, chief information officer of consumer and community banking at JPMorgan Chase. “It is in everything we do, from our offices to our branches to our contact centers to our web and mobile applications.” Haus explains that there’s more to being a technology company than using technology to solve problems. “What really makes a technology company is how you think about the way you hire teams, the way you groom teams, the way you build software, the way you deploy that software,” says Haus. “It's how you organize around products, not around your business units.” Like a technology startup, the technical teams at JPMorgan Chase solve real-world problems. “Every single day, we are launching new features a

The current 5G evolution in network connectivity is expected to drive unprecedented demands for bandwidth, reliability, and security. However, a network of this magnitude and robustness doesn’t pop up overnight and enterprises and consumers are just beginning to realize the myriad use cases a 5G network can support. For example, consider the increased number of connected devices in a house like smart thermostats, security cameras, tablets, smartwatches, and mobile phones, of course. Raj Savoor, the vice president of network analytics and automation at AT&T Labs explains, “Currently we estimate the average consumer home footprint has about 13 connected devices, including mobile and other devices.” And although that sounds like a large number, he continues to explain the real scale, “That's going to increase to 30 to 40 devices over the next five years, so a really big increase.” And the real challenge he continues to explain is that, “This growth needs advanced network architectures to

The skills and capabilities needed to undergo digital transformation are in high demand as every company jockeys to gain a competitive advantage. To address the skills gap, some companies are prioritizing upskilling and reskilling. But to be effective, learning and development itself must undergo a transformation. According to Daniela Proust, global vice president and head of global people enablement and growth at Siemens, learning and development is at the core of digital transformation. “In light of a major transformation that businesses are facing, either by new business models arising or new innovation and technologies driving a certain business area forward, you see that you need to accompany that structural change, that structural workforce transformation in order to drive business transformation,” she says. Traditional training methods need to also transform. Given the speed of technological change and need for business agility, multi-day offsite training (some of which may not

Like many banks, National Australia Bank (NAB) decided to outsource a large part of its operations in the 1990s. “We pushed all our operations and a large part of our development capability out to third parties with the intent of lowering costs and making our operations far more process driven,” says Steve Day, the chief technology officer of enterprise technology at National Australia Bank. Unfortunately, achieving these goals had an unintended consequence. “We froze our operations in time,” says Day. “If you roll forward to 2018, we realized that we were still operating like we're in the 1990s. We were very waterfall driven. Our systems were highly processed driven, but in a very manual way, and it took us a very long time to roll out new products and services that our customers really needed.” Meanwhile, young financial services companies were coming to market with innovative products and services and NAB was finding it difficult to compete. “Many customers today are expecting an Am

With its Emirates Mars Mission, also known as the Hope Probe, the UAE has established itself as only the fifth country in history to reach Mars and the seventh in the world to reach the orbit of another planet. The UAE’s first mission to Mars, Hope’s goal is to provide the first, complete picture of the Martian atmosphere and its layers to help scientists understand the planet’s climate better. The Emirates Mars Mission is unique in that the troves of data collected by Hope are being released to the public. “This contributes to a more knowledge-based economy and fosters the science community's capabilities as a collective. This step was taken to encourage the science community to break the barriers and work together for the greater good,” says Maryam Yousuf, a data analyst for the Emirates Mars Mission. The Hope probe has three main objectives, the first is to understand the lower Martian atmosphere and its weather and climate. Yousuf continues, “The second objective is to correlate th

In many areas of the world, environmental conditions are not conducive to traditional farming. As a result, these countries are food dependent. They rely on imported food, which is subject to supply chain issues and nutrient loss during transportation. A company in the United Arab Emirates called Smart Acres is looking to change all that through hydroponic vertical farming. “Living in a region with a lot of non-arable land and in arid conditions, we're not able to produce a lot of the crops needed for consumption for the nation. The UAE actually imports 90% of the food for consumption,” says Aphisith Phongsavanh, lead project manager of Smart Acres. Smart Acres is an indoor vertical hydroponic farm that grows pesticide-free leafy greens using 1/10 of the land and 90% less water than traditional farming. The Abu Dhabi-based farm grows 13 cycles of lettuce a year, yielding 20 times more food than traditional farming would on the same square meters of land. The Smart Acres farm consists o

For many people, the concept of directed energy, or lasers, conjures images of lightsabers and bank vault security systems—the stuff of Hollywood movies. However, the fact is, lasers are commonly used in everyday life applications, from surgery to optical communications. At Technology Innovation Institute’s (TII) Directed Energy Research Center (DERC), scientists and engineers are using directed energy to solve some of the world’s most complex challenges and make the world a better place. Directed energy is “the ability to create a high amount of energy in a controlled volume at a given distance in order to trigger physical reactions to study the interaction between the energy and the matter,” says Dr. Chaouki Kasmi, who is the Chief Researcher at DERC, which is part of the Abu Dhabi government's Advanced Technology Research Council. The research at DERC reflects the multitude of applications that are possible using directed energy, but the research projects have at least one thing in

Since the 1940s scientists have studied ways to increase rainfall with the goal of increasing precipitation in arid and semi-arid climates. Today, that endeavor is making incredible leaps and bounds as scientists and engineers apply nanotechnology to improve the effectiveness of cloud seeding. “The global water shortage has continuously intensified by rapid population growth and economic development around the world. Conventional water resources such as rivers, lakes, and groundwater have become very limited, which is driving scientists and engineers to look for alternative water resources,” says Dr. Linda Zou, a professor of civil and environmental engineering at Khalifa University of Science and Technology. Dr. Zou leads a groundbreaking research project using nanotechnology to develop cloud seeding materials. Cloud seeding is a form of weather modification that mimics what naturally occurs in clouds but enhances the process by adding particles that can stimulate and accelerate the c

Few today won’t agree that sustainability is important not only to the future of the planet and society but to business practices as well. And approaches are evolving beyond designing products to be used as long as possible. “If we’re going to design a product or use a product, we’re thinking from the very first moment what happens afterwards,” says Corey Glickman, vice president and head of the sustainability and design business at Infosys. “How do I source those materials? How does it function efficiently? And then ultimately, can it be reused? Can it be recycled?” Consumers are driving sustainability efforts as well. They’re beginning to weigh company values when choosing where to shop and what to buy. And business leaders are taking note, Glickman says. They’re looking at things like return on investment, whether they can afford to change, or afford not to change. “We call it single bottom-line sustainability, where I look at the single bottom line of all those elements, and I star

Fueled by innovations in AI, IoT, and blockchain, digital transformation has been accelerating rapidly across industries. But as the world’s data is growing at the edge, the stark differences in digital equity and inclusion have become clear. Access to technology, underrepresentation within tech companies, and bias within technology itself contribute to this stark digital divide, says Janice Zdankus, vice president of strategy and planning and innovation for social impact at HPE. From healthcare to manufacturing to agriculture, many organizations don’t have a handle on the data they generate. While data is being created quickly, companies often lack a strategy to organize, share and account for bias in their data. ”I think we see today that there's not an equitable exchange of data and those producing data aren't always seeing the value back to them for sharing their data,” says Zdankus. Democratizing data access is key to bolstering data inclusion and equity but requires sophisticated

Across industries and geographies, the pandemic has triggered a paradigm shift in the way companies—and their employees—conduct day-to-day business. The move to work-from-home and hybrid work models has increased the need for collaboration to facilitate communication and innovation from remote locations, and to keep teams connected and engaged when in-person meetings are difficult or impossible. Successful collaboration requires creating an equitable experience for all team members, says Faiza Hughell, RingCentral's chief customer officer. “Participant equity is predicated on the ability to empower your employees with the tools, technologies, and programs they need to reach success, to remain productive at all times,” she explains. And it’s more important than ever for companies to evaluate the new technologies teams are implementing to ensure they are facilitating the desired outcomes, as well as to assess a particular technology’s potential application to other areas and teams in the

Artificial intelligence helps build physical infrastructure like modular housing, skyscrapers, and factory floors. “…many problems that we wrestle with in all forms of engineering and design are very, very complex problems…those problems are beginning to reach the limits of human capacity,” says Mike Haley, the vice president of research at Autodesk. But there’s hope with AI capabilities, Haley continues “This is a place where AI and humans come together very nicely because AI can actually take certain very complex problems in the world and recast them.” And where “AI and humans come together” is at the start of the process with generative design, which incorporates AI into the design process to explore solutions and ideas that a human alone might not have even considered. “You really want to be able to look at the entire lifecycle of producing something and ask yourself, ‘How can I produce this by using the least amount of energy throughout?’” This kind of thinking will reduce the imp

Next-generation solutions and products are hitting a wall with wi-fi: it’s not fast enough, and latency and connectivity issues mean it’s not reliable enough. What’s an innovator to do? Focus on what’s next: 5G and software-defined networking. Nick McKeown, senior vice president and general manager of the network and edge group at Intel Corporation says this technical leap is what will make future innovation possible, “Once you've got a software platform where you can change its behavior, you can start introducing previously absurd-sounding ideas,” including, he continues, “fanciful ideas of automatic, real-time, closed-loop control of an entire network.” While nascent, these technological advancements are already showing promise in practical applications. For example, in industrial settings where there’s more analysis happening at the edge, having greater observability into the network is allowing for fine timescale responses to mechanical errors and broken equipment. “Corrective acti

The internet of things and smart devices are everywhere, which means computing needs to be everywhere too. And this is where edge computing comes in, because as companies pursue faster, more efficient decision-making, all of that data needs to be processed locally, in real time—on device at the edge. “The type of processing that needs to happen in near real time is not something that can be hauled all the way back to the cloud in order to make a decision,” says Sandra Rivera, executive vice president and general manager of the Datacenter and AI Group at Intel. The benefits of implementing an edge-computing architecture are operationally significant. Although larger AI and machine learning models will still require the compute power of the cloud or a data center, smaller models can be trained and deployed at the edge. Not having to move around large amounts of data, explains Rivera, results in enhanced security, lower latency, and increased reliability. Reliability can prove to be more