ITC to deploy crowd-sourcing systems to drive digital switch

Date: 2021-02-08   Author: Pankaj Singh  Category: #news

ITC to deploy crowd-sourcing systems to drive digital switch

Leading multinational conglomerate, ITC, which has incorporated digital technologies for its businesses, is reportedly heading towards the next phase of a digital switch.

Following its plans, the enterprise has come up with two initiatives, namely, Young Digital Innovators Lab, to crowdsource digital strategies from the ITC’s businesses, as well as DigiNext, a dedicated Digital Council of senior ITC managers, designed by Sanjiv Puri, the Chairman of ITC, to ideate and sponsor highly powerful digital interventions to harness synergies.

Reportedly, the initiatives would leverage cloud-technologies, social-media engagement tools along with a digital marketing and analytics platform to ensure contextual communication and rapid product development with the help of key marketing insights.

Citing this move, the Indian conglomerate revealed that accelerated digital transformation is currently an integral part of the enterprise’s future-ready strategy and digital innovations are widely being harnessed to enhance their competitive value in terms of business efficiencies, consumer engagements, and logistics. It also stated that all its businesses, including the supply chain and distribution ecosystem, are deploying novel technologies like industry 4.0, artificial intelligence, machine learning, big data, industrial internet of things (IoT), and smart robotics in order to improve their operational effectiveness.

It has been disclosed that this next phase of transformation would be achieved using a two-step process , and substantial investments have been made by the company to create the digital ecosystem. ITC also divulged that several of its digital initiatives had significantly contributed to its business outcomes.

Owing to this, digital natives, an empowered team of innovators from different ITC businesses that fall under the Young Digital Innovators Lab would now have access to the multinational company’s digital assets to evaluate the digital initiatives. These professionals would distinguish the best-in-class digital technologies as well as identify opportunities across the value-chains. The team would also assist ITC to leverage emerging opportunities and upgrade its operational effectiveness across businesses through digitization.

DigiNext, together with ITC’s businesses, would lend support to the Young Digital Innovators Lab to crowdsource ideas and offer valuable inputs.

Source Credits: https://www.business-standard.com/article/companies/itc-plans-digital-switch-by-crowd-sourcing-systems-setting-up-core-group-121020700433_1.html

 



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Glucosinolates Market Valued at USD 140 million in 2018 | Trends, Competitive Landscape, Geographical Overview

Author: Rahul Varpe

DecResearch Inc. published a comprehensive study on the Glucosinolates market. The report cover the top trends in the industry, key players, major segments, geographical analysis and some of other parameters that support to drive the business into...


Industrial Margarine Market Segmentation Analysis, Competitive Outlook, Growth Factors and Forecast till 2026

Author: Rahul Varpe

DecResearch Inc. published a comprehensive study on the Industrial Margarine market. The report cover the top trends in the industry, key players, major segments, geographical analysis and some of other parameters that support to drive the busines...


Grapeseed Oil Market Valued at USD 410 million in 2018 | Trends, Competitive Landscape, Geographical Overview

Author: Rahul Varpe

DecResearch Inc. published a comprehensive study on the Grapeseed Oil market. The report cover the top trends in the industry, key players, major segments, geographical analysis and some of other parameters that support to drive the business into ...