Other parts of this series:
Are you ready to close the innovation achievement gap with Future Systems? Let’s find out.
In my previous posts, I reviewed the qualities of Future Systems and looked at four companies using new technologies to scale innovation. Today I’m sharing some practical tips and a checklist to help you assess your Future Systems readiness.
Three practical steps to create boundaryless, adaptable and radically human systems
To implement future-ready insurance systems and derive ideal benefits, insurance leaders need to develop both a tactical and a strategic vision and plan. A vital component of this is an appropriate investment plan that includes many new technologies. Accenture research shows that leaders focus on three practical steps to maximize the business impact of this vision and plan:
Are you ready to innovate with Future Systems?
No plan for innovation is the same, but every enterprise needs to have a strong foundation of technology adoption, technology architecture, systems trust and data trust, and organizational culture. With these cornerstones in mind, how does your organization stack up? Assess your Future Systems readiness below to find out.
Future Systems are boundaryless.
- More than 80 percent of enterprise systems in the cloud
- Use of edge computing, newer cloud models
- Systems innovation touches seven or more of 13 enterprise business processes
- Decoupled data, infrastructure and applications
- Use of platforms to enter new markets
- Interoperability through a uniform and holistic approach to data, security and governance
- Established paths for exploring unconventional business/tech partnerships
Key takeaway: Cloud is just the beginning—know that it is your springboard to integrating other technologies.
Future Systems are adaptable.
- Enterprise-wide automation and artificial intelligence (AI), including strategy and use of self-optimizing processes
- Tracking and measurement of automation/AI results against industry benchmarks
- Consistent elimination of work and eradication of unnecessary processes before automating
- Stable and constantly evolving architecture
- Confident data supply chain in the cloud, powered by machine-led techniques
- Use of machine-led compliance, traceability, transparency and security
Key takeaway: Let go of old ways of working to make room for flexible, adaptable architecture.
Future Systems are radically human.
- Structured, fail-fast approach to evaluate the potential of emerging technologies (i.e. natural-language processing, computer vision, voice and extended reality)
- Cross-functional design and engineering approaches
- Systematic application of responsible AI frameworks to build human-machine trust
- People-led problem solving powered by design thinking; use of human-centric design as a standard practice
- Personalized experiences at scale
Key takeaway: Don’t wait to experiment with new technologies.
Do you have a workforce of the future?
Finally, while your systems are important, talent is the integral investment to ensure the success and operation of those systems. Nurturing talent as a key mindset and method for innovation at scale.
Key attributes of a future–ready workforce include:
- A dynamic workforce, with personalized and continuous skill reassessment and learning
- An agile culture that breaks down barriers between business and IT
- Hybrid IT roles filled by a combination of human + machine talent
- Reimagined talent strategies looking at tasks—not jobs—and workforce skill gaps
The mindset and method of Future Systems Leaders are those of deliberation, adaptability and purpose. With scaled innovation in their sights, Leaders are thinking outside the box to see what works for them—both now and in the future.
Is your enterprise ready for Future Systems?
For more insight on the Future Systems for insurance, download Future Ready Systems and Full Value. Full Stop., or get in touch with me here.
What’s more important than understanding future systems within your organization?! Great read! I particulalrly liked the “let go of old ways”, we all need a reminder of than now and again.