U.S. Business Leaders Believe 5G Will Aid Recovery From Economic Impact Of COVID-19: Verizon Business Survey

What you need to know:

* Seven in 10 (69%) decision-makers believe 5G will help their company overcome the negative impact of the COVID-19 pandemic

* Nearly half (48%) of decision-makers said their companies have already provided or are planning to provide a 5G-capable smartphone or device to employees within the next six months

* 76% of respondents say that mobile edge computing (MEC) is important to their company

* Decision-makers largely agree that 5G will create new opportunities for their company (80%), their industry (79%), and their role (79%)

Verizon Business today released findings from its “Verizon 5G Business Report” highlighting the impact 5G technology is expected to have across the United States. The findings show that technology decision-makers overwhelmingly agree 5G high-speed communications networks and devices will create new growth opportunities and applications for their companies and industries within the next two years.

“Over the last year, 5G has become top-of-mind for businesses as they manage through condensed digital transformation timelines,” said Tami Erwin, CEO of Verizon Business. “Today’s findings underscore the critical role 5G will play in economic recovery and growth, and we stand committed and ready to help our partners make that transition quickly and seamlessly.”

In terms of use cases, 73% of decision-makers polled also said they already know which 5G applications will be most beneficial to their enterprises, and seven in 10 believe that 5G technologies will help them accelerate their companies’ recovery from issues posed by the COVID-19 pandemic.

Approximately 80% of decision-makers agreed that 5G would provide new growth opportunities for their companies. While upfront costs of 5G ranked as the highest barrier to adoption (41%), an inability to make a clear business case (10%) ranked among the lowest barriers, highlighting the high confidence among business executives regarding the power of 5G.

Businesses driving adoption

According to data from a 5G consumer study conducted in December 2020 shows that businesses are ahead of consumers in driving 5G adoption.

Key Stats:

Businesses are more aware of 5G than consumers, and they prioritize it

Most business decision-makers say they have heard “a lot” about 5G (55%) versus 1 in 5 adults when asked the same question (23%)

5G adoption is well underway across businesses

Almost half (48%) of decision-makers say their company has already provided or is planning to provide a 5G-capable smartphone or device to employees within the next six months

76% of respondents say that mobile edge computing (MEC) is important to their company

Decision-makers largely agree that 5G will create new opportunities for their company (80%), their industry (79%), and their role (79%).

A transformative impact

Among industries, a variety of distinct use cases emerge as well as nuances to drive 5G adoption.

Sports, Entertainment and Media

Key Stats:

In rethinking the live event experience, 78% indicated that leveraging 5G to incorporate augmented and virtual reality experiences would be of value

Similarly, 66% saw making virtual live events through AR and VR like the in-person experience as a valuable use case of 5G

More than half of technology decision-makers in the industry (52%) indicated that 5G planning and adoption is a top priority for C-level leaders at their organization

Government/Public Sector

Key Stats:

74% saw real-time video to monitor crowds and increase safety as a valuable impact of 5G

70% viewed faster data transfers to and from first responders as they get to and from emergency sites as a benefit of 5G

36% felt that 5G would have a transformational impact on cybersecurity

Healthcare

Key Stats:

More than 3 in 4 technology decision-makers in healthcare said 5G will change how their organization interacts with customers (78%)

Decision-makers in healthcare view use of remote health monitoring devices (81%) as the most valuable application of 5G in their industry, while use of mobile networks for high-quality telemedicine is viewed as the application that respondents believe their organization is most likely to implement, interact with, or respond to in the next two years (78%)

Operational efficiency (75%) was named as the area in which 5G will have the most noticeable impact for respondents’. organizations.

Manufacturing

Key Stats:

Supporting system automation ranked highest amongst all industries and specific use cases for 5G deployment (49%) by manufacturing respondents

Real-time supply chain tracking from shipment to shelves to respond to inventory demands and help combat theft and fraud ranked highest in terms of sector specific benefits (88%) and tied with real-time tracking of capacity and production in terms of likelihood of being deployed in next two years (82%)

Retail

Key Stats:

77% of retail respondents indicated that businesses that do not adopt 5G technology will fall behind their peers

80% felt that giving customers the ability to shop from anywhere using AR and VR via 5G would be a valuable use case

Enhancing wireless internet speed and reliability (60%) was named the top priority for usage of 5G

The survey, which was conducted in partnership with Morning Consult, polled 700 business technology decision-makers across the United States to gauge interest in deploying 5G and specific use cases within the Sports/Entertainment/Media, Government/Public Sector, Healthcare, Manufacturing, and Retail industries

In the past several months, Verizon Business has been active in bringing 5G to enterprises through agreements with companies like Digital Catapult, General Motors, Honeywell, Walgreens, and WeWork. The agreements cover a variety of use cases ranging from Network as a Service (NaaS) to commercial indoor deployments

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control

Future-Ready Organizations Leveraging Digital To Operate Smarter Could Help Unlock $5 Trillion in Economic Growth: Accenture Study

The pandemic-driven acceleration of digital adoption and the resulting new agile ways of operating could unlock $5.4 trillion in profitable growth if applied broadly, according to a new report by Accenture (NYSE: ACN).

Based on a global survey of 1,100 senior-level executives and externally validated financial data, the report, “Fast Track to Future-Ready Performance,” assessed the impact of achieving progressive levels of business operations maturity with the highest level being “future-ready.” The higher the maturity, the greater the degree of digital capabilities, such as artificial intelligence (AI), cloud, and data analytics.

Accenture’s findings indicate that even amid the current economic uncertainty, a small core of companies —about 7%—have achieved nearly twice the efficiency and three times the profitability of peers. These future-ready companies have doubled-down on digital transformation and retooled operating models, pivoting from incremental improvements to wholesale reinvention.

“Uncertainty has also put a premium on new, agile ways of doing things, reinforcing the idea that operations can be a catalyst for competitive advantage, transformational value and growth,”  said Manish Sharma, group chief executive of Accenture Operations. “But this only works if companies think big— transforming how the work actually gets done across technology, processes and people.

Achieving Future Readiness

Future-ready enterprises transform how work gets done by using rich data for decision-making, augmenting people with artificial intelligence (AI) and employing agile workforce models — with striking differences in digital adoption and operational maturity. The areas they focus on include:

Cloud: Nine in 10 future-ready organizations (90%) — versus 76% of other organizations — use cloud infrastructure at scale, and 78% are also exploring new areas to scale and maximize value.

Machine Intelligence: With a focus on augmenting people with technology, 71% of future-ready organizations have fully adopted AI and data science capabilities — an 18-fold increase from just 4% three years ago — and 38% now scale AI practices, compared with just 3% of other organizations. That number is growing, with 63% of future-ready organizations expected to scale AI practices by 2023.

Automate at Scale: Two-thirds (67%) of future-ready organizations have adopted end-to-end digital processes and 58% continue to scale leading practices, compared with 32% and 6%, respectively, of other organizations. Four-fifths (82%) are expected to scale leading practices by 2023.

Smarter Data: Future-ready organizations are more than 10 times as likely as other organizations (52% vs. 5%) to use analytics at scale—paired with better, more diverse data sets (45% vs. 6%)— to generate actionable insights and inform decision-making. Three-fourths (75%) are expected to use analytics with diverse data by 2023.

Agile Workforce: One-third (34%) of future-ready organizations have adopted an agile workforce strategy at scale, compared with just 4% of other organizations, enabling them to tap into an expanded talent pool among ecosystem partners to mobilize special talent as needed.  Accenture estimates 71% will adopt an agile workforce strategy by 2023.

“Future-ready organizations know that it’s about maximizing talent in an era when people are critical to success,” Sharma said. “They’re harnessing change by retooling operating models in ways that capitalize on human ingenuity and machine intelligence to transform the way people work and the business performs.”

Organizations are currently on different levels of operations maturity in all industries. The findings indicate the percentage of future-ready organizations in insurance (10%) and high tech (9%) are generally higher than other industries. However, as the pandemic forced unprecedented digital acceleration, Accenture forecasts some industries will leap ahead by 2023—with automotive (48%), insurance (42%) and banking (37%) expected to emerge as front-runners in future readiness.  

By assessing what Accenture calls “transformational value” — a concept that factors in financial performance and the differentiated experience delivered—the research found future-ready organizations achieve average efficiency gains of 13.1% and lift profitability by 6.4%.

Additionally, organizations that advanced to the ‘future-ready’ level in the past three years reported improvements in the speed of product and services innovation (cited by 83%), employee engagement and retention (80%), customer experience (75%), business value generated from data (73%) and employee talent mix and reskilling efforts (68%).

While the majority are making progress, Accenture’s findings report 93% can do more and advancing business operations maturity even by one level pays off. On average, companies with one higher maturity level in 2020 were 7.6% more efficient in terms of lower operating expenses per dollar of revenue, and 2.3 percentage points more profitable in terms of EBITDA as a percentage of revenues.

Methodology: Accenture surveyed 1,100 senior-level executives worldwide, 44% of whom were C-suite executives, across 11 countries and 13 industries.  The research, conducted in 2020, assessed four levels of business operations maturity — stable, efficient, predictive and future-ready — with each level underpinned by progressing digital capabilities, such as AI, cloud, and data. The business impact was assessed by combining survey responses with externally validated financial data from 810 of the 1,100 organizations surveyed.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 514,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.

Study Reveals Chennai And Delhi Lead The Demand For Education Related Services

* Placement Consultancies, Job training & Entrance Exam Coaching are the top leading service categories

A study undertaken by Sulekha.com, India’s leading AI-driven tech platform for expert services has unveiled interesting trends and insights about the education related service categories that have seen an increase in December 2020.

This study is based on visits and searches by nearly 2 lakh +users across top 8 cities that landed on Sulekha in December 2020.

Key findings of the study:

* The Top 3 education related service categories that have seen a spike in online searches include: Placement Consultancies, Job training & Entrance Exam Coaching.

* The education related service categories grew by 30% across the top 8 cities (November Vs December)

* The top 5 cities that are leading in online searches across service categories include: Chennai Delhi and Bangalore followed by Hyderabad and Mumbai.

* In Chennai, the top 3 education related services that are leading include: Job Training, Placement Consultancies and Language Training. These services have grown by 20% since November.

* In Delhi, the top 3 education related services that are leading include: Placement Consultancies, Job Training and Competitive Exam Coaching. These services have grown by 43% since November.

* In Bangalore, the top 3 education related services that are leading include: Placement Consultancies, Job Training and Distance Education. These services have grown by 20% since November.

* In Hyderabad, the top 3 education related services that are leading include: Placement Consultancies, Job Training and Competitive Exam Coaching. These services have grown by 30% since November.

* In Mumbai, the top 3 education related services that are leading include: Placement Consultancies, Job Training and Distance Education. These services have grown by 32% since November.

* In Pune, the top 3 education related services that are leading include: Placement Consultancies, Job Training and Entrance Exam Coaching. These services have grown by 40% since November.

* In Kolkata, the top 3 education related services that are leading include: Distance Education, Job Training and Placement Consultancies. These services have grown by 20% since November.

* In Ahmedabad, the top 3 education related services that are leading include: Job Training, Placement Consultancies and Entrance Exam Coaching. These services have grown by 54% since November.

Satya Prabhakar, Founder & CEO, Sulekha.com, said, “According to CMIE (Centre for Monitoring Indian Economy), India's unemployed count in December rose to 38.7 million. This data is consistent with the education related service categories that have witnessed an increase in the month of December i.e. Placement Consultancies and Job Training.”

Canara Bank Q3 Of 2020-21 Net Profit Grew By 112.21% To Rs 696 Cr

The bank's total income (consolidated) during October-December period of 2020-21 rose to Rs 24,490.63 crore from Rs 15,531.80 crore, Canara Bank said in a regulatory filing.

State-owned Canara Bank on Wednesday reported consolidated net profit of Rs 739.20 crore in the third quarter ended December of the current fiscal.

It had earned a net profit of Rs 406.43 crore during the same period a year ago.

However, the profit of Q3FY21 is not comparable year-on-year as the latest figures are of the amalgamated entity after the merger of Syndicate Bank into Canara Bank.

The amalgamation came into effect from April 1, 2020.

The bank's total income (consolidated) during October-December period of 2020-21 rose to Rs 24,490.63 crore from Rs 15,531.80 crore, Canara Bank said in a regulatory filing.

'Figures of December 31, 2019, and March 31, 2020, are related to standalone Canara Bank financials to pre-amalgamated period, hence, not comparable with post amalgamation financials of September 30, 2020 and December 31, 2020,' the bank said.

On asset front, the gross non-performing assets (NPAs) of the bank fell to 7.48 per cent of the gross advances as of December 31, 2020, as against 8.40 per cent by end of December 2019.

In value terms, the gross NPAs or bad loans were of the order of Rs 49,988.56 crore as against Rs 36,860.49 crore.

Net NPAs were 2.65 per cent (Rs 16,796.15 crore), down from 5.05 per cent (Rs 21,377.86 crore).

Provisioning for bad loans and contingencies stood at Rs 4,327.34 crore for the quarter under review, higher than Rs 1,815.32 crore parked aside for year ago quarter. Of this, the provision for bad loans was of Rs 2,658.48 crore as against Rs 1,205.85 crore a year earlier, the bank said.

On standalone basis, the net profit in Q3FY21 stood at Rs 696.06 crore as against Rs 329.62 crore. Total income was at Rs 21,479.86 crore, against Rs 14,001.63 crore on standalone basis.

Shares of Canara Bank traded at Rs 133.30 a piece on BSE in afternoon trade, down 0.22 per cent from their previous close. 

Pooja Bajaj, An Accident Survivor Hoists The Indian Flag At Manipal Hospitals

Surgery does not stop the strong willed in pursuing their passion! This Republic Day, Manipal Hospitals honors Bengaluru based Ms. Pooja Bajaj, a self-driven, ardent motorcyclist, and entrepreneur who underwent a devastating surgery in Manipal Hospitals, Old Airport Road and bounced back on her feet to pursue her passion. 

Symbolizing that Life’s On, Pooja Bajaj was back on her bike within 26 days after facing a serious accident that crushed her entire collar bone. Her surgery was done only after 6 days at Manipal Hospitals, and multiple titanium plates, bolts & screws cover 85% of her right shoulder. Her passionate persona is sure to inspire the youth in taking all that life can throw and being perseverance to accomplish one’s dreams.

This Republic Day, Manipal Hospitals also highlights that India has proved yet again to the world that our country’s healthcare infrastructure is far superior and advanced than ever. Today, the country has another reason to celebrate, as the nation stands on par with the western countries in successfully developing and distributing a vaccine for the ongoing virus. 

On this special occasion, Dr Manish Rai, Hospital Director, Manipal Hospitals, Old Airport Road, stated, “This year’s Republic Day celebrations has a completely different sentiment compare to the previous years. With the outbreak of the pandemic last year, it left the country rattled and hesitant to even dream of a Republic Day celebration. With the successful vaccine roll out, today, we are delighted and honoured to celebrate our nation’s progress in the healthcare infrastructure and strength to face the global pandemic.”

About Manipal Hospitals: 

As a pioneer in healthcare, Manipal Hospitals is among the top 5 healthcare providers in India serving over 3 million patients annually. Its focus is to develop an affordable, high quality healthcare framework through its multispecialty and tertiary care delivery spectrum and further extend it to homecare. With 11 tertiary / quaternary care facilities and 4 secondary care hospitals spread across India and abroad, Manipal Hospitals today operates and manages about 6,000 beds across 15 hospitals. Manipal Hospitals provides comprehensive curative and preventive care for a multitude of patients from around the globe. Manipal Hospitals is NABH, AAHRPP accredited and most of the hospitals in its network are NABL, ER, Blood Bank accredited and recognized for Nursing Excellence. Manipal Hospitals has also been the most respected and patient recommended hospital in India through various consumer surveys.

Harpic Mission Paani Hosts India’s Largest Waterthon On Republic Day

* Leading policymakers, celebrities and corporates celebrated w ater heroes

* The 8-hour long Waterthon addressed the criticality of water for hygiene

As India celebrated its 72nd Republic Day, Harpic Mission Paani hosted its first Waterthon celebrating the country’s water heroes. The 8-Hour long Waterthon brought together leading policy makers, celebrities from all walks of life, the Armed Forces and corporates to address the criticality of water for hygiene and conservation.

India’s largest Waterthon witnessed a series of thought-provoking sessions deliberating on efficient solutions and the need to prioritize efforts towards water conservation. Mission Paani has partnered with WWF-India and Swarovski Waterschool to mobilise their Waterschool curriculum for encouraging early water conservation habits in children.

Laxman Narasimhan, Global CEO, Reckitt Benckiser Group commented, “Hosting India’s largest Waterthon on Republic Day is highly symbolic and a matter of pride for us at RB. People from all walks of life have come together today on the Harpic Mission Paani platform, united towards a common goal of saving water. This day has celebrated India’s water heroes who have selflessly led and addressed the criticality of water for hygiene. We are hopeful that Harpic with its key initiatives will successfully drive behavior change towards water conservation and hygiene with Mission Paani.”

Speaking on building purpose-led brands, Harold van den Broek, President, RB Hygiene said “At RB, we are pioneers of Health, Hygiene and Nutrition and we deliver our purpose- to protect heal and nurture in the relentless pursuit of a cleaner and healthier world. Our brands like Harpic, Finish and Lysol have been at the forefront of driving behaviour change. We are committed to building brands with purpose with a clearly defined fight that is linked to key societal issues in line with UN’s defined Sustainability Development Goals.”

Actor and Mission Paani Ambassador, Akshay Kumar said, “Water is a wealth we have to conserve. The demand for water will rise by 40 percent in the next 9 years, which is something we will not be able to fulfill. Add to that, there are chances of a water crisis taking place in 28% of the country for which we all will be responsible. At the rate that humanity is going, in next 100 years, we will finish all the water available. Water can be sold at the rate of gold, it can even be costlier. We might even see a war on it. There might come a time where there won't be rivers, lakes. We will struggle to even find a drop. It is the need of the hour for us to take a pledge to save water so that we can live a life of a better tomorrow.”

At the event Narasimhan Eswar, Senior Vice President, South Asia, RB Hygiene, said, “Saving water is now more important than ever before. The pandemic has taught us that high levels of sanitation and hygiene are essential for all sections of society. Harpic Mission Paani is a defining people’s movement, aimed at creating a more direct impact on water, hygiene and sanitation. Our aim with Harpic Mission Paani’s ‘Swachhta aur Paani’ campaign is to increase awareness and encourage citizens on the urgency for efficient usage and conservation of water as well as hygienic sanitation.

Sukhleen Aneja, CMO & Marketing Director, RB Hygiene, South Asia said, “Children hold the key to our future and are hence the best evangelists for Mission Paani. With Harpic's Mission Paani we wish to bring about a lasting behaviour change. Last year, we released the Water anthem co-created with legendary AR Rahman and rendered by an all-children's choir urging India on the need for using water responsibly. This year Mission Paani has partnered with WWF and Swarovski School of Water to launch and has mobilised the water  curriculum focused on teaching children the importance of water conservation from an early stage.”

ABOUT RB:

RB* is driven by its purpose to protect, heal and nurture in a relentless pursuit of a cleaner, healthier world. We fight to make access to the highest-quality hygiene, wellness and nourishment a right, not a privilege, for everyone.

RB is proud to have a stable of trusted household brands found in households in more than 190 countries. These include Enfamil, Nutramigen, Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite, Air Wick and more.  20 million RB products a day are bought by consumers globally.

RB’s passion to put consumers and people first, to seek out new opportunities, to strive for excellence in all that we do, and to build shared success with all our partners, while doing the right thing, always is what guides the work of our 40,000+ diverse and talented colleagues worldwide.

For more information visit www.rb.com

*RB is the trading name of the Reckitt Benckiser group of companies.

CitiusTech Named Leader In Everest Group’s Healthcare IT Services Specialists PEAK Matrix® Assessment 2021

CitiusTech, a major provider of healthcare technology services and solutions, announced today that it has been named as a “Leader” in Everest Group’s Healthcare IT Services Specialists PEAK Matrix® Assessment 2021.

CitiusTech is positioned as a “Leader” due to its ability to drive transformational change across the healthcare value chain including payers, providers, life sciences and healthcare technology companies. Everest Group cited focus on delivering next-gen digital solutions, deep healthcare domain expertise and strong technology partnerships with Microsoft, IBM, AWS and GCP as key areas of strength.

“Our Leader positioning in Everest Group’s Peak Matrix Assessment 2021 is a testament to our strong focus on digital innovation and years of continuous investment in next-gen technology and healthcare domain expertise,” said Vinil Menon, CTO of CitiusTech. “We will continue to invest in future ready solutions, products and talent so we can consistently deliver higher value to our customers to enable better care and outcomes.”

“The move to new sourcing models has led to an increase in the role and influence of specialists within enterprises' portfolios,” said Chunky Satija, Practice Director at Everest Group. “While large service providers still dominate the services industry, these specialists have been able to carve out a niche for themselves, due to their superior domain expertise, quality of talent, and client intimacy. CitiusTech, with its extensive suite of IP and accelerators and strategic partnerships and reseller relationships with big-tech players, including AWS, GCP, IBM, Microsoft and Salesforce, has positioned itself as a modernization partner for healthcare enterprises. In addition, CitiusTech’s acquisition of FluidEdge Consulting, accompanied by healthcare domain expertise and presence across provider and payer segments, enabled it to be positioned as a Leader in Everest Group’s Healthcare IT Services Specialists PEAK Matrix® Assessment 2021."

The report evaluated digital service capabilities of 12 companies in the healthcare technology and consulting sector and mapped them on the Everest Group PEAK Matrix®, providing a data-driven comparative analysis of specialized healthcare IT digital service providers based on market success and delivery capability. It also observed that in a space dominated by global technology service providers such as Accenture, Cognizant and TCS, specialists like CitiusTech have been able to carve out a niche for themselves and gain market share through superior domain expertise, high quality talent and greater client intimacy.