“It’s no longer about the digitalisation of the banking business, but about the future of banking in a digitalised world. – Christian Sewing

The Deutsche Bank provides broad-ranging financial services, and like all financial companies is increasingly using online technology to provide these. The Deutsche Bank has entered into a partnership with Jovoto to shift their corporate mind-set, which was always aimed at competitiveness, towards a more agile flowing mind-set aimed at growth. Open innovation, specifically the “Crowdstorming” platform, contributes to the new “digital” strategy that many companies in the financial sector are implementing. Technology such as artificial intelligence (AI) and automation software is taking over many repetitive tasks at businesses, with the financial services sector leading the charge.

Jovoto helps existing organizations in innovation. Jovoto sets up online sites and manages them to collect ideas about questions asked by companies. Jovoto gives companies the option to launch a co-creation process, where one can brainstorm with 80 000 other creative professionals around the world. Within these platforms, the public and the company come together to make innovative changes. The vision of Jovoto is therefore: ‘Mass collaboration on the Jovoto platform leads to fresh ideas, from product design and marketing campaigns to innovative business scenarios of the future’

Jovoto posted the challenge ‘share your vision of how Artificial Intelligence can help Deutsche Bank reinvent its customer service experience – see video below for a glimpse of the challenge: How Deutsche Bank Crowdstorms the Future of Banking with Jovoto

Jovoto managed these platforms/competitions and determines which people can share ideas on the platform. This ensures that only professionals can upload ideas on the platform and thus the quality of this way of working remains high. For Deutsche Bank, using Jovoto, was a really lucrative way to get new ideas about AI without having to invest in Research & Development (R&D). Using conventional R&D methods (which are more expensive) companies are unable to get so many inputs of ideas or such high-quality ideas. The success of this type of projects ensures that companies are increasingly using platforms like Jovoto.

References
Jovoto.com (2017). Available at: https://www.jovoto.com/creatives/. [Accessed on 09/10/2017]

Deutschebank.nl (2017). Available at: https://www.deutschebank.nl/nl/content/over_ons_campagnes_cfo_event_de_cfo_en_innovatie.html. [Accessed on 09/10/2017]

“I would expect logistics companies to be, not worried exactly, but concerned, as it would represent a big upset to their operating model’- Andrew Underwood, partner and head of UK supply chain management practice at KPMG.

The logistics world will change significantly over the next fifteen years due to unmanned aircraft (UAVs), also known as drones. Drones have the potential to change the way supply chains and deliveries are organized. In particular, these UAVs will provide a good solution in places with major traffic jams and at the more remote locations. UAVs can be introduced for many different purposes. The implementation of the UAVs can provide the following benefits: faster and up to five times cheaper than transport by truck, the ability to fly solar or other non-fossil fuels, reduce local congestion and improve urban air quality and liveability.

Companies like Google, Amazon and DHL strongly believe in the UAVs potential and the regulatory framework for commercial UAV deliveries will be facilitated in the coming years, making the above-mentioned parties invest in this technology. To take DHL as an example: DHL has been testing UAVs for commercial delivery of goods in remote settings. The first major project focuses on delivering urgent medicine from the countryside in Germany to the island of Juist (12 km away). See a glimpse of this project in the video below – https://www.youtube.com/watch?v=AeWjnKfpXq4

Currently the UAV is being tested for delivery of goods to a DHL parcel locker in a remote mountainous region in southern German. Leading concept is that the distribution centre is instructed to deliver a particular package through the air by a fully autonomous flying device. At the destination, there is a special station where the drone or the aircraft leaves his package and the recipient can pick up the package. This test was once again successful, which means that DHL wants to continue to test / develop further at other locations and in other countries. If companies as DHL are able to demonstrate the safety of UAVs and society accepts package distribution with drones, then the chance that package distribution with UAVs will become mainstream within the foreseeable future is considerable.

References

DHL.com (2017). Available at: http://www.dhl.com/en/press/releases/releases_2015/group/dpdhl_group_to_foster_global_growth_through_pioneering_innovation_approach.html. [Accessed on 02/10/2017]

Mobiliteitsalliantie.nl (2017). Available at: https://mobiliteitsalliantie.nl/wp-content/uploads/2017/02/Feitenonderzoek-versie-1-september2016.pdf. [Accessed on 09/10/2017]

Deingenieur.nl (2017). Available at: https://www.deingenieur.nl/artikel/pakketvliegtuig-dhl-bezorgt-autonoom. [Accessed on 09/10/2017]

Theguardian.com (2017). Available at: https://www.theguardian.com/technology/2014/sep/25/german-dhl-launches-first-commercial-drone-delivery-service. [Accessed on 09/10/2017]