Digital Innovation Is Key To Achieve A Safer, Cleaner & Healthier Future

Digital Innovation Is Key To Achieve A Safer, Cleaner & Healthier Future

Digital Innovation Is Key To Achieve A Safer, Cleaner & Healthier Future

Inken Braunshmidt, Chief Innovation & Digital Officer, Halma PLC

Having completed her Business Administration and Innovation & Technology Management at Kiel University (including a PhD in Technology Management), and Finance at the London Business School, Inken is a technology veteran with close to two decades of experience working across niche tech verticals.

In an exclusive interaction with CEO Insights, Inken explicates about the latest digitization trends, its use cases, and importance in an organization’s success.

What are your thoughts on the current state of digitization in the B2B space of India?
Technologies are developing at an incredible pace in this age, and companies need to keep themselves abreast with the developments if they wish to remain relevant and ensure sustainable growth. The rising levels of digitisation and digital adoption in India, though noteworthy, are still not enough to bring the bottom layers of the pyramid under the coverage of digital benefits. This is a global challenge and impacts both developed and developing nations a like.

How is the convergence of technology transforming and disrupting business models across diverse industries?
Allow me to illustrate with an example. Devices like Fitbits and other wearables that provide personal health data makes us more aware of our health and wellbeing, which can only be a good thing for the wider healthcare sector. The data might not be as good as data from clinical grade instruments, but based on the higher amount of data and intelligent algorithms, this might be neglectable in future. This technology is shaping mindsets and influencing human habits, and therefore, the mindset of companies. Our own ophthalmic cameras - Volk Optical are connected tech, monitoring and screening for preventable and curable blindness in hard-to-reach rural communities from Ghana to Bolivia. Businesses should transition from hardware centric business model and adopt more data driven or insights-based business models or services. Hardware may be commoditised, but the integration of digital technology,
including AI and predictive technology models is fast becoming the norm.

How are you leveraging the might of digital innovation to achieve your philosophy of working towards a safer, cleaner & healthier future for everyone?
The world population is 7.7 billion and growing, and Halma’s core philosophy is to grow a safer, cleaner and healthier future for everyone, every day. To ensure that we achieve such ambitious targets, we are focused on providing customers globally with solutions that are data and insight driven in order to scale-up and multiply our impact.

What suggestions do you have in mind for emerging as well as the well-established businesses to seamlessly adapt the ongoing digital transformation?
The list of industries disrupted by digital technology is lengthy. Retailing, media, telecommunications, tourism have all succumbed to the irresistible march of Internet-driven innovation. Exciting new developments in driver less vehicles and blockchain technology have raised expectations that transportation and financial services will soon be next.

Businesses need to transition from hardware centric business models and adopt more data-driven or insights based business models or services

Businesses large and small should understand that it is strategy and not technology that enables digital transformation. Integrating digital technology in as many areas of business will fundamentally change how a business operate and deliver value to customers.

For emerging businesses, my suggestion would be to watch carefully the developments on digital innovations and evaluate only those that will be best fit for that business. Digital transformation will look different for different business, and a one-size- fit-for-all approach is not possible.

The most basic reason why an organization would look for digitization is ‘survival’. By nature, digital transformation questions status quo, and an organization that has ambitious growth targets cannot undermine the absolute need for digital transformation. A seamless adoption can be achieved when the organization is culturally open to change. Another reason for companies to go digital is the great opportunity to tap into new customer segments & needs and growth.