“Over the next decade, the electricity industry is predicted to unlock approximately $1.3 trillion in value through development and digitization of infrastructure, including platforms, devices, as well as cloud and advanced analytics.”
With the “greatest opportunities are predicted at the retail (8.5% EBIT improvement) and generation (6.6%) levels.”
Original source: Digital transformation in power generation and delivery
“More specifically, our definition will include leveraging technologies, such as AI, machine learning or robotic process automation, but it’s really about data and how we’ll utilize it. Like most insurers, we have decades of outcome data. Now, with evolving capabilities, the availability of new data sources and advances in analytical modeling, we can marry historical data with real-time data to create something more powerful. The ultimate goal is establishing new ways of working that are more data-driven in order to become more proactive and valued in our customers’ lives.”
Original source: A look inside American Family Insurance’s digital transformation office
“Thirty-six percent of those reported premium over $1 billion per year; those companies also said they planned to increase IT budgets by about 11% on average. Carriers between $500 million and $1 billion in premium plan an average increase of 5%.”
Original source: Largest insurers plan biggest IT budget increases
So why is everyone, including us of course, so excited? Because the benefits are extensive:- decentralisation, reliability, simplification, transparency, traceability, cost saving, reduced room for error, faster transactions and improved data quality… just to mention a few!
I don’t really understand any of this, but it seems like a thing.
Source: 5 Ways Blockchain will Transform Financial Services
“IDC predicts the cloud computing market to reach about $70 billion this year and the number of new cloud-based solutions to triple within the next four to five years….the biggest cloud computing verticals worldwide will be discrete manufacturing, banking, professional services, process manufacturing, and retail. IDC expects the five verticals to represent 45 percent of the market’s total spend.”
IDC: Industry-specific solutions to drive public cloud computing
Citrix has a new DaaS service provider survey out. I’m often overly harsh on virtual desktops and, by extension, DaaS. I’m always curious who actually uses this stuff, so the vertical breakout is interesting:
The largest number of service providers who responded listed financial services, healthcare and manufacturing as the vertical markets they served. This is an interesting change in the vertical market ranking compared to the December 2011 Citrix Service Provider survey. In 2011, service providers indicated their leading verticals were healthcare, legal and public sector/government. Manufacturing finished fifth in the 2011 survey ranking of most popular verticals and third in the 2014 survey. The growth of manufacturing as a DaaS vertical is a keen indicator of new trends in the vertical market ranking, which is usually dominated by healthcare and financial services.
Citrix has, of course, chosen to not sell DaaS directly but rather be a supplier for others who’d like sell DaaS. They seem to be doing well according to what they reported to us for a recent 451 report: 50% y/y growth from service providers. Amazon and VMware, and others, have gone the opposite route. We’ll see what happens.
Who’s using DaaS
The deal is one of the best and most lucrative examples so far of applying a Google-style data-science mind-set to an existing industry — in this case, the world’s oldest and most popular: Farming.
Farming analytics startup goes for $930m