THINK Week in Review: The “B2I” Edition

The distinction between B2C and B2B is no longer useful. Instead, we should begin thinking about “B2I,” in which the I stands for individual. Companies succeed or fail these days based on their ability to build and maintain lasting relationships with individuals. We have to earn our customers’ trust or those relationships will not grow. Forget B2C and B2B – We need B2I. “B2I as a concept may not fully mature for three to five years, but customers are already beginning to expect this level of engagement as a matter of course. The technology platforms that enable it won’t be long in coming. We need to be ready to move from primarily transactional relationships to more intimate, AI-powered personalized relationships with the individuals who buy our products and services.” Deloitte releases their 2018 Global Blockchain Survey. “When looking at the insights developed from our 2016 survey, the data suggested that blockchain adoption—and its move into production—would have happened at a faster pace than we have seen so far in 2018. Still, even though blockchain is rolling out in a more moderated fashion than expected, its adoption remains promising. As more organizations put their human and financial resources behind blockchain and come to better realize how it can improve their business processes and their bottom lines, we expect the technology to gain significant traction, as its cost savings, competitive advantages, and ROI benefits become more pronounced.” A new Accenture Report: Reworking the Revolution: Are you ready to compete as intelligent technology meets human ingenuity to create the future workforce? “"Business leaders must take immediate steps to pivot their workforce to enter an entirely new world where human ingenuity meets intelligent technology to unlock new forms of growth," said Mike Sweeney, ASEAN Products Talent & Organization, Accenture. "Workers are impatient to collaborate with AI, giving leaders the opportunity to demonstrate true Applied Intelligence within their organization." Confronting the greatest risks to Financial Services’ Future. “Change in business or on a personal level is scary. As opposed to waiting for something to happen, successful executives and companies must take the proactive shift necessary to deal with today’s increasingly rapid pace of change. Instead of a “don’t fix what isn’t broken” attitude, you must adapt to the change around you or face obsolescence. Banking executives and financial institutions must deliberately disrupt themselves … before the marketplace does it for you. Proactive disruption isn’t optional, because the change that is happening in banking is occurring through all sectors of the economy. It is time to eliminate complacency, stop resting on the laurels of previous successes, start playing to win, and stop being a “traditional banker.” An HBR Test - Assessment: How productive are you? “Productivity has many aspects. When thinking about your productivity, you need to first understand your priorities, and then you can plan your schedule to focus on your top priorities and downplay your routine functions. On a daily basis, you need to reduce the amount of time you spend on getting through the small stuff that clutters up your life, and hone your skills at more effectively dealing with your colleagues. Both will go a long way toward helping you achieve your goals.”