During your morning workout at the gym, a device on your arm measures each step and connects with…your bank. By monitoring your healthy lifestyle, the bank can then arrange a lower rate on your health insurance. Later, when walking toward your office, you notice an apartment for sale in a neighborhood you have been scouting for real estate deals. So you point your smartphone at the building to view an augmented-reality image superimposed on the building. In turn, you see the price, square footage, and a live link to your bank’s virtual mortgage advisor.
These kinds of scenarios could become commonplace, once banks embrace the opportunities of the Internet of Everything (IoE) era. While today’s digital consumers demand experiences that are relevant to their current context, many feel that banks don’t understand their needs. Contextual interactions may be common when buying books or streaming movies, but customers sense a “value gap” with their banks. And many are willing to trust disruptive innovators from outside the traditional realm of financial services to fill this void.
Banks can keep pace with customer demand by adopting IoE-enabled solutions that offer expert advice, value-added services and convenience, whenever and wherever customers need them — and do so securely. Wearables and augmented reality are among the more forward-looking innovations that banks should be exploring today. But there are many other ways for banks to reconnect with customers.
In a recent Cisco survey of banking customers in 12 countries, respondents were extremely receptive to five core IoE-enabled banking solutions centered on advice (virtual financial advice, virtual mortgage advice and automated financial advice) and mobility (branch recognition and mobile payments). Seventy-five percent would move their money to another provider for one or more of the five concepts. In emerging markets, respondents are twice as likely to move their money.
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Tags: analytics, augmented reality, banking, biometrics, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE, Wearables
“One year ago this week, Cisco announced a plan and a billion dollar investment to build the world’s largest Intercloud – a globally connected network of clouds from Cisco and our partners. As we arrive at the one-year anniversary, I took a few minutes to chat with Cisco President Rob Lloyd and Cloud SVP Nick Earle – two of the ‘architects of the Intercloud’ – about how the idea came about, and what they have learned in the year since the vision was unveiled.”
Click here to read the full post by David McCulloch
A Q&A with Cisco President Rob Lloyd and Cloud Senior Vice President Nick Earle
Happy Birthday, Intercloud!
Tags: Cisco cloud, David McCulloch, Hybrid Cloud, innovation, InterCloud, Internet of Everything, internet of things, IoE, nick earle, partners, private cloud, Public Cloud, rob lloyd, service providers
Powerful technology trends including, social, mobile, cloud, and Big Data are converging, creating unprecedented “digital disruption.” We are in a unique period of time where business and technology leaders have the opportunity to create new value and win market share by leveraging the advantages of a hyper-connected world.
Agile competitors with better business models seemingly emerge overnight. Ingrained ways of thinking and working make changing to an innovative culture painfully slow. Needed talent and resources lie outside the four walls of the organization in a wider ecosystem of capabilities. And while technology challenges abound as we confront the future, people and process changes are even more vexing for most organizations.
So how do executives keep their companies from being added to the growing heap of once venerable brands that didn’t transform fast enough?
It’s not easy.
According to Gartner research, by 2020, 75 percent of companies will be a digital business or will be preparing to become one, yet only 30 percent of these efforts will be successful. The number one reason companies fail to transform is because they don’t re-imagine and reinvent the business from top to bottom before they begin.
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Tags: Cisco, digital business, digital disruption, Digital transformation, IMD, innovation, Internet of Everything, IoE, leadership, research
A Q&A with Cisco President Rob Lloyd and Cloud Senior Vice President Nick Earle
One year ago this week, Cisco announced a plan and a billion dollar investment to build the world’s largest Intercloud – a globally connected network of clouds from Cisco and our partners. As we arrive at the one-year anniversary, I took a few minutes to chat with Cisco President Rob Lloyd and Cloud SVP Nick Earle – two of the ‘architects of the Intercloud’ – about how the idea came about, and what they have learned in the year since the vision was unveiled.
David McCulloch: Can you take us back to early 2014 and remind us why Cisco needed to evolve its cloud strategy?
Rob Lloyd: In late 2013, even as sales of Cisco’s SaaS and cloud enabling technologies continued to rise, we started to see demand for a new cloud model: a hybrid cloud model that took into account our customers’ current IT investments and augmented those with a choice of cloud providers, and access to local and national cloud options to more easily comply with data privacy and industry regulations. We realized that if we could deliver all of that with one holistic hybrid cloud strategy that gave customers a high degree of control over security, policy and application performance, we had a huge opportunity on our hands.
DM: Enter Cisco Intercloud! How did the idea come about?
Rob: A few weeks before Cisco’s annual executive leadership team meeting, Nick Earle, Edzard Overbeek (head of Cisco Services), Jim Sherriff (chief of staff) and I met to brainstorm what it would take to deliver the hybrid cloud strategy our customers wanted. We knew we had some valuable assets already: Cisco Application Centric Infrastructure (ACI) was capable of enabling consistent security and policy across clouds. Intercloud Fabric enabled portability of workloads between clouds. And our Integrated Architecture offers in the Data Center were already market leading. But we realized we could go further still if we fully embraced our extensive global ecosystem of partners. If we could combine Cisco’s strengths together with those of our partners, and move quickly, we knew we could disrupt current cloud models and become the market leader in hybrid cloud solutions.
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Tags: Cisco, cloud, Edzard Overbeek, innovation, InterCloud, jim sherriff, nick earle, rob lloyd
The world we live in today is one where people, process, data and – increasingly – things are connected as never before. The Internet of EveryThing (IoE), is driving the most dynamic area of innovation, creating new business models, economic, social and environmental sustainability and also has fantastic potential to improve our quality of life.
Just imagine: a blind man gaining independence because his once ordinary walking stick is able to communicate with his other senses through sensors, vibrations and GPS technology that guide him through the city maze. Imagine a connected car informed of traffic jams by analyzing traffic patterns and adjusting traffic light operations. Or think of smart manufacturing facilities that cut costs by reducing waste and energy consumption. And these are just the possibilities being realised today. Imagine what the future will look like in 5, 10 or 25 years from now.
We have barely begun to scratch the surface of what’s possible. We don’t know what applications and services will shape the Internet’s future. To continue innovating, we need the Internet to remain open, giving the most creative among us the chance to experiment with daring new ideas.
We also must be sure not to stifle the very innovation that we seek to encourage. If we do so, it could inhibit growth and new ideas alike. This is why today we should focus on putting in place the right policy principles that will further develop this new Internet of Everything.
In policy debates, net neutrality is often understood to mean that all bits should be treated equally, regardless of whether it’s a text, email, picture or video. While at first sight this may sound reasonable, the truth is that such a strict net neutrality principle would become an innovation straight-jacket. It would require us to re-design the Internet as we know it, doing away with tools that have become essential to its success.
Different Internet services have different requirements. It doesn’t really matter if an email arrives now or a second or two later. But if you’re dealing with real-time applications – such as video communication, or buying stocks or monitoring vital signs, delays can have an incredible impact on user experience and effectiveness.
So the truth is that you have to manage internet traffic to make sure that the data that has to get there immediately – does. This short video explains what traffic management entails and why it is so important.
Reasonable traffic management is so deeply embedded in the Internet’s core structure that it could not operate smoothly without it. This is the case already with the traffic loads of today, let alone in the future. Because management and scheduling are a crucial part of the Internet, we are closely following European efforts to formulate new net neutrality legislation. Cisco believes such legislation has merit but it could also have sweeping implications for reasonable traffic management and new services that would ultimately stifle rather than encourage innovation on the Internet. These implications can and should be avoided.
Fortunately it seems there is an increasing realisation among some policy-makers that net neutrality legislation, necessary as it may be, shouldn’t eliminate reasonable traffic management altogether. That approach would undermine rather than improve the quality of users’ experience. One way to establish net neutrality rules that prevent bad behaviour while maintaining a role for traffic management is to pursue a two-thronged approach where a line is drawn between the types of bad behaviour we do not want to see in the Internet and the necessary and reasonable traffic management techniques that ensure the fast, reliable and scalable networks that we all rely on, and need as consumers.
Equally, there is an emerging consensus that we must avoid overly prescriptive attempts to cast into law lists enumerating or narrowly defining the types of services other than internet access services that we deem “deserving” of specific levels of quality. Such attempts are bound to get it wrong in many cases. Moreover, any such neutrality law would quickly be outpaced and overtaken by reality. Building a Procrustean bed for the Internet is not the way towards a more vibrant digital economy in Europe. It is not necessary to have these prescriptive definitions and conditions on innovation as long as we maintain strong and clear safeguards to ensure an open and reliable Internet.
As the debate on neutrality in Europe enters its final phase, with trialogue negotiations starting this week, we hope the European Parliament will take a fresh look at the issue and we achieve a balanced final outcome.
In essence, the legislation we need should be sturdy enough to hold things together, but flexible enough for Internet entrepreneurs to continue adding new applications and services.
Just think about what the Internet looked like 15 years ago: a handful of wires, noisy connections that would bump you off from time to time, and streaming would be as quick as a snail. We have made huge strides, and we can continue towards an Internet of Everything – a smarter, more productive and efficient way at approaching life. But to get there, striking the right balance in Europe’s regulatory framework is more crucial than ever before.
Tags: Cisco, government, innovation, Internet of Everything (IOE), net neutrality