Mobile & Workplace

Of all the tech megatrends, none is reshaping the workplace as fundamentally as mobility. It is changing not only how we work, but how we think about how we work. Until now, FSIs have focused mobility initiatives on the customer; it’s time to bring real mobility to colleagues.

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How you can use the RetailTech Model

The first stage is Research & Development, when an innovation is not fully-fledged and has not yet been adopted beyond prototypes, trials or POCs.

New technologies typically go through 5+ years of R&D, though the timeframe will vary substantially depending on the degree of innovation entailed.

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Model Stages

The Leading Edge stage indicates when an innovation has moved out of R&D and into operation. Approximately 5% of the market adopts the innovation at this stage, usually start-ups and a few industry players known for being forward-looking.

Sometimes, an innovation is picked up from another sector. As indicated in the timeline below, it typically takes 1 to 3 years to move from the Leading Edge to Early Adopters stage.

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Model Timeline

At this stage organisations are more risk averse than those at the Leading Edge, but are still keen to be in the industry’s upper quartile and adopt a new technology.

The broad timeline for technologies to remain at this stage is 2 to 5 years at which point they will have reached around 25% market adoption.

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Model Origins

By this point a technology or business innovation can be considered as Mainstream since it will have been implemented by around 50% of the market.

2-5 years is the typical timeframe for this stage.

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Model Lenses

Technologies in the Late Adopters stage have been widely adopted across the industry with 80% - 100% of the market using them after a further 5+ years.

Not all technologies end up being adopted by everyone, with some 20% of technologies never reaching full adoption.

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R&D

The first stage is Research & Development, when an innovation is not fully-fledged and has not yet been adopted beyond prototypes, trials or POCs.

New technologies typically go through 5+ years of R&D, though the timeframe will vary substantially depending on the degree of innovation entailed.

. .
5+
Leading Edge

The Leading Edge stage indicates when an innovation has moved out of R&D and into operation. Approximately 5% of the market adopts the innovation at this stage, usually start-ups and a few industry players known for being forward-looking.

Sometimes, an innovation is picked up from another sector. As indicated in the timeline below, it typically takes 1 to 3 years to move from the Leading Edge to Early Adopters stage.

. .
5%
1-3
Early Adopters

At this stage organisations are more risk averse than those at the Leading Edge, but are still keen to be in the industry’s upper quartile and adopt a new technology.

The broad timeline for technologies to remain at this stage is 2 to 5 years at which point they will have reached around 25% market adoption.

. .
25%
2-5
Mainstream

By this point a technology or business innovation can be considered as Mainstream since it will have been implemented by around 50% of the market.

2-5 years is the typical timeframe for this stage.

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50%
2-5
Late Adopters

Technologies in the Late Adopters stage have been widely adopted across the industry with 80% - 100% of the market using them after a further 5+ years.

Not all technologies end up being adopted by everyone, with some 20% of technologies never reaching full adoption.

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80%-100%
5+

The first stage is Research & Development, when an innovation is not fully-fledged and has not yet been adopted beyond prototypes, trials or POCs.

New technologies typically go through 5+ years of R&D, though the timeframe will vary substantially depending on the degree of innovation entailed.

The Leading Edge stage indicates when an innovation has moved out of R&D and into operation. Approximately 5% of the market adopts the innovation at this stage, usually start-ups and a few industry players known for being forward-looking.

Sometimes, an innovation is picked up from another sector. As indicated in the timeline below, it typically takes 1 to 3 years to move from the Leading Edge to Early Adopters stage.

At this stage organisations are more risk averse than those at the Leading Edge, but are still keen to be in the industry’s upper quartile and adopt a new technology.

The broad timeline for technologies to remain at this stage is 2 to 5 years at which point they will have reached around 25% market adoption.

By this point a technology or business innovation can be considered as Mainstream since it will have been implemented by around 50% of the market.

2-5 years is the typical timeframe for this stage.

Technologies in the Late Adopters stage have been widely adopted across the industry with 80% - 100% of the market using them after a further 5+ years.

Not all technologies end up being adopted by everyone, with some 20% of technologies never reaching full adoption.

Using mobility to disrupt the workplace

For some time now, greeters at the bank branch have used tablets to direct customers to self-service areas or the appropriate colleague. However, these greeters have typically lacked access to customer-specific data that would help them triage customers, prioritizing those with critical transactions. But this is changing. Some banks are now deploying CRM-like capabilities on tablets to personalize the customer experience from the moment the customer steps in the door. Customer advisers are also using tablets to model scenarios dynamically based on different saving and investment strategies. The ability to sit side by side and speak with a customer creates an atmosphere of transparency and partnership that supports relationship-based selling.

Colleague productivity can also be increased through mobile app stores that streamline common administrative tasks, such as requesting leave, staff scheduling and password reset. Managers on the go can save time by using mobile apps that streamline approval workflows down to one or two clicks. In addition, mobile intranets can foster colleague engagement and knowledge by providing access to newsfeeds, communities and product updates.

Speech recognition and natural language processing are improving to the point that software agents, such as Apple's Siri and Microsoft's Cortana, are nearly ready for widespread enterprise adoption. For knowledge-based tasks that revolve around words rather than numbers, voice is a far more natural interface. Indeed, a number of larger banks are exploring voice and natural language processing to support Customer Relationship Managers in wealth management and commercial banking. Cognitive computing and so-called artificial intelligence will steadily expand the range of tasks that can be executed by intelligent agents, freeing up humans for areas that depend on relationship skills. Chat bots are already being widely used to automate IT service desks interactions.

Explore these and other trends in the Mobility & Workplace lens of our Innovation Model.

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Mobile & Workplace Expert

Danny Brandt
DXC Workplace & Mobility Practice

Arrange a meeting with Danny Brandt

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