It’s safe to say the Internet of Everything (connecting people, processes, data and things) is impacting nearly every aspect of our lives.
When we wake up in the morning, we can check our smartphones for weather updates and use that data to decide if we need to wear an extra jacket or bring an umbrella. In some cities, sensor-based parking spaces can allow us to check a smart parking app to determine where to park our cars and how much it will cost to park in a certain space.
But the Internet of Everything (IoE) does not just impact our morning routines or where we park our cars – it also is transforming healthcare and is reshaping the patient experience. IoE for healthcare is all about better health outcomes, increased productivity, and more patient choice that drives an enhanced patient experience. Read More »
Tags: healthcare, Internet of Everything, internet of things, IoE, IoT, Tapan Mehta, telehealth, telemedicine
In years past, a visit to the neighborhood bank branch often featured face-to-face meetings with a trusted advisor who would guide customers through their most challenging financial journeys — often over a cup of coffee. Today, many banks have ceded that privileged position of trusted advisor. While banks have made great strides in using technology to cut costs and streamline transactions, customer experience and engagement have suffered.
In a Cisco survey of 7,200 bank customers in 12 countries, 43 percent of customers said their primary bank does not understand their individual needs. As a result, many respondents feel that their choice is between bad financial advice or no advice all. Moreover, nearly one in four bank customers intend to choose another provider for their next financial product or service. Increasingly, that provider could be a non-bank such as Apple, PayPal, or a retailer. Four out of five customers would trust a non-bank to handle their banking needs.
Clearly, the perceived value that customers receive from banks is declining, along with their trust in banks to represent their interests. Banks are seen as commoditized — and replaceable — providers of transactions. Meanwhile, in the wake of the financial crisis of 2007-2008 and some well-publicized banking scandals, banks’ “trusted advisor” status has suffered. Moreover, it is easier than ever to switch to a non-bank that customers believe has a better understanding of their needs.
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Tags: analytics, banking, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE, IoT
Today’s banking consumers are used to experiences that reflect their likes, dislikes, past histories, and even their future plans. But not always from their banks. These kinds of interactions are more common when buying an online book, streaming a movie, or planning a vacation. Despite numerous omnichannel initiatives, many banks continue to lag in providing contextual, relevant, and convenient experiences to their customers. And while many customers yearn for personalized financial guidance, a Cisco survey of 7,200 smartphone users and bank customers in 12 countries found that for too many bank customers, the choice is between no advice, or what they perceive to be generic advice delivered inconveniently.
As a result, bank customers often try to attain their most important financial goals on their own, via “friends” on social media, or from non-traditional providers of financial services. Moreover, since the financial crisis of 2007-2008, banks’ brand equity has fallen. Read More »
Tags: analytics, banking, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE
A couple weeks ago, I had the opportunity to travel to China and South Korea to meet with Cisco customers and partners. The meetings went well, but it was clear that these countries share what seems like a universal condition afflicting so many cities all over the world: traffic.
I know what you’re thinking, “Traffic? Really?” Fair enough, but bear with me on this one.
Admittedly, the traffic may have been top of mind for me because of a recent advertising campaign Cisco unveiled foreshadowing the last traffic jam. The irony is that sitting in bumper-to-bumper traffic in Hong Kong gave me time to think about this in a more critical way.
Why, in today’s modern, technology-advanced era, have we not yet discovered a way to avoid traffic or at least control it? Sitting idle in traffic for many is an accepted daily annoyance, but it can also present serious consequences to the welfare and economy of many people and organizations. In the U.S. alone, it’s estimated that traffic costs $124B in lost productivity, fuel waste and higher prices for goods as a result of higher transportation costs. Multiply this by a global factor, and you begin to get the enormity of this so called “annoyance.”
At Cisco, we’re focused on creating solutions that deliver business outcomes for our customers: faster decision-making, lowering costs, increasing productivity, etc. Being close to Cisco’s data center solutions and the company’s Internet of Everything vision, I got to thinking how we’re not that far off from leaving the traffic jam in the dust.
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Tags: Cisco ACI, Cisco UCS, data center, Fast IT, Frank Palumbo, IoE
The world is faced with overwhelming social issues, from climate change to poverty. Students and young entrepreneurs are taking advantage of the growing number of devices connected to the Internet, turning them into products that will one day solve these global problems.
A competition developed by Cisco France employees in 2014 aims to harnesses this innovative spirit. Now in its second year, Le Defi Cisco (The Cisco Challenge) invites university students and young entrepreneurs to develop solutions to social and environmental challenges using the Internet of Everything – the connection of people, processes, data, and things
Students collaborate during the Le Defi Cisco Competition, brainstorming new ways to apply technology to global social issues
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Tags: Cisco CSR, cisco networking academy, corporate social responsibility, Internet of Everything, IoE, le defi