Our digital lives began with one change in behavior: downloading an app that transformed our transportation, entertainment, banking or vacation-planning habits, for instance, or sending images rather than texts from our smartphones to share information, experiences or impressions. These pinpoint changes have created a ripple effect that now enhances our interactions worldwide.
Similarly, we believe such precision twists on digitization can also bring value to entire organizational value chains. We call this “digital process acupuncture,” or the targeted use of digital technologies to relieve operational stress that builds up at critical process bottlenecks. The result: new forms of value, improved business outcomes and a better experience for all participants. Examples include capturing images with drones to reduce insurance underwriting risk and bring insurers closer to real customer needs; using digital wallets and beacon technologies to create shopper awareness and boost retail sales; using sensors, IoT or RFID for real-time monitoring to streamline business supply chains.