Innovations coming from outside the traditional healthcare industry span a wide spectrum of products and services, but all take advantage of advances in digital technologies and the ability to analyze and present large amounts of data in new ways. From new biosensor technologies and smart devices to portals and physician guidance tools, there are numerous exciting breakthroughs that allow enhanced self-monitoring capabilities and patient adherence - and ultimately superior clinical decision-making and treatment success. In this article, Ulrica Sehlstedt, Nils Bohlin, Fredrik de Maré and Richard Beetz of Arthur D. Little discuss how a pharma company should act in the midst of this rapid change if it is to stay ahead.
The way customers interact with banks and insurance companies has changed: according to Eurostat and The Financial Brand, as much as 40% of banking customers in the EU are active online banking users. That number rises to 61% in the US. We expect this number to rise to 83%-89% in the EU by 2020. In this article Alejandro Gonzalez and Pedro Fernández of Arthur D. Little, discuss how financial institutions can develop digital strategies as bricks and mortar become obsolete.
Banks and insurance companies that are able to transform themselves will be well placed to benefit from digitalisation. However, most companies remain unprepared. According to a 2015 pan-European survey by Arthur D. Little, financial institutions are less adapted to digitalisation than the cross-industry average. Although most companies have undergone considerable investments in order to update their IT capabilities and architecture, other key functional aspects are lagging behind, organisation being one of the most critical ones. In this article, Alejandro Gonzalez, and Pedro Fernández of Arthur D. Little explain how financial institutions can transform to ride the digitalization wave.
Together with Mastercard, Deutsche Telekom will launch a credit card that includes a chip for Near Field Communications (NFC) enabling a contactless exchange of data at the cash box. From 2013, the credit card shall be an important part of the mobile wallet which is a digital platform that can be used by banks, businesses and other credit card companies. “It will be hard to profit from huge emerging business”, says Dr. Michael Opitz from Arthur D. Little’s TIME Practice in Germany. “As of today there is no business model that is proven to make money.”
Due to regulations, new IP-technologies and innovative over-the-top-competitors, traditional turnover with telecommunication-services like voice- and mobile transmission are at stake: According to a recent Arthur D. Little-study, European Telecommunication-companies will face an annual drop of about 2% in turnover until 2015. Still though, the consultants from Arthur D. Little see several opportunities in adjacent markets like Financial Services, Automotive or the internet of things for the Telcos, to mitigate the decline.