A new study builds upon the January 2017 report, Accenture Strategy conducted for CTIA on the economic impact of 5G deployment, which estimated a $500 billion boost to U.S. GDP and the creation of 3 million new American jobs. It unveils how policy innovation around 5G small cells could unlock an additional $100 Billion in economic growth.
“5G is a crucial factor in creating new and agile business models across industries that are predicated on wireless,” said Sanjay Dhar, managing director, Accenture Strategy, Communications, Media & Technology. “The economic benefit we isolated can only be achieved with robust mobile ecosystems that quickly usher in the age of 5G. IT allows the energy grid to be more accurately monitored, improving management, reducing costs, and adding $1.8 trillion in revenue to the U.S. economy.”
As discrete and process industries, energy, and healthcare are on the cusp of major industry transformation, these benefits become even more pronounced. As enterprise mobility shifts the power into the hands of prosumers through active involvement and decision-making over expanding choices, it requires a reimagining of technological architecture and business models.
In an SAP live course, Smart Service Welt – Data and Platform-Based Business Models, Frank Riemensperger at Accenture demonstrates how the Smart Services Welt model positions organizations for information and product provisioning through leveraging open IoT operating systems where additional services increase availability.
In this new paradigm “where all components are intelligent and connected to the internet, the ability to unlock the potential involves processing data that is dynamically configured and personalized: smart services through the collection of sensor data of operationalized products.”
It is achieved through the Layer Model framework consists of:
- Service Platform
- Software-defined architecture
- Network Physical Platform
- Technological Infrastructure
In addition to the expanded capabilities, it opens up opportunities for new pricing models, new services, optimal performance, and higher value outputs among all users and contributing stakeholders.
As Reinhold Groß discusses, the shift is also a cultural and organizational transformation, whereby trust is deemed most important – delegated responsibility, decision making, access to budget and capacity, reduced information and coordination processes are all critical factors for achieving success. As Smart Services dynamically evolve, so does the reward system for value creation to one that is based on creativity, implementation speed, and the incline of learning curves associated with new and emerging technologies and shifts from products to more service-oriented solutions.
SAP’s acquisition of Core Systems, a Switzerland based pioneer in crowd service and a leading field service management platform, to be part of the SAP Service Cloud portfolio:
The artificial intelligence (AI)-powered platform provides advanced scheduling of field service activities in real time, and easy-to-use mobile apps that enable service technicians in the field to perform installation, maintenance, and repair tasks. With its unique crowd-sourcing capabilities, service organizations can build and expand service networks beyond their own workforce.
It’s a clear indication of their commitment to extending these capabilities as mobility projects take on more strategic, mission critical roles. Their deep industry expertise in the Energy, Power, and Utilities industry is propelled by not only market factors, but by deeper trends such as the need to reduce Co2 emissions, the diversification of renewables, and an aging workforce. Through a more enterprise, platform-enabled focus, they can extend and leverage the integrative power of HANA and the Intelligent Enterprise to achieve shared objectives:
Field service has become not only a critical factor when it comes to the overall customer experience, but a key competitive differentiator in many industries, including discrete manufacturing, industrial machinery, medical equipment, telecommunications, utilities, and home and office appliances. But creating and managing an agile, high-performing field service organization is a huge challenge.
Interested in reading more –> The Digital Utility Unlocking New Business Value with Digital Technology
As SAP continues its leadership position in Gardner’s Magic Quadrant in the Utilities Systems for the 13th consecutive year, and announcements of SAP C/4HANA, the release of SAP Cloud for Energy and the launch of SAP Leonardo Blockchain all create momentum leading up to the SAP Utilities Conference.
The SAP for Utilities Conference, the largest industry event in the U.S., is being held in San Antonio from October 15-17, 2018.
Register now to get involved and discover how your organization can collaborate and capitalize on the New 5G Mobile, Energy Economy.