Microsoft recently bought the Startup XOXOCO to adopt this emerging technology as an approach to adopt Artificial intelligence in their operation. In the business operation perspective, it represents as a significant investment for Microsoft. ChatBots the artificial intelligence technology was able to replace first-line/ Tier one customer support personnel. Secondly, ChatBots were able to decrease the language barriers for business if they out-source their support operation overseas. In comparison to oversea customer support, ChatBots provide a service that was able to decrease the language barriers and overall support time. For Microsoft, if the company adopt such technology into their operation, they will be able to decrease expenses on first-line customer support.
In a recent Webcast, “How Investors Can Identify Disruptive Innovation and What it can Add to a Portfolio”. It talks about disruptive technology should be able to do the following. First, “enable rapid cost decline” Second, the impact of the technology should pass across sectors and geographies. Third, prolong innovation process. In the article, it talks about how robotics can enable rapid cost decline. The value of disruptive technology can be varied from industries and sectors of business, by innovating the business process with automation, artificial intelligence and robotics can potentially “enable rapid cost decline”, however, such technologies require long-term investment in both time and capital. Hypothetically, if the company utilize such disruptive technology, it needs to evaluate the scale of impact in its operation, in-depth analysis of what benefit the firm can acquire in the long-term. For instance, Netflix, the well-known online streaming service, represents as a perfect example in disruptive innovation. First, the company reshapes the entire eco-system of how people watch TV shows and movies. Second, by hosting the platform online, the firm successfully decrease its operation cost by not opening any physical stores, unlike Blockbusters at the time. Third, it serves as a perfect example of how the streaming service can have the great impact geographically in a short period of time. Today, Netflix attain approximately 130 millions of users in 190 different countries. In conclusion, disruptive innovation must provide a method to enable rapid cost decline, across geographic and sector barriers and spawn innovation process to achieve its purposes as the game changer in the industry.
Mercy Technology Service, a healthcare technology company, designed a SaSS cloud-based PACS system to decrease expenditure and increase efficiency for medium size or small size hospital. According to the article from Healthcare IT News, the cloud-based technology is able to combine nine legacy PACS system into one entity.
The service is a solution to the current PACS technology in the United States, which smaller scale hospitals can save technology expenses on the PACS system. Moreover, the cloud-based technology allows the hospitals to increase efficiency by diminishing turnaround time by 50%, which mean radiologists now can enjoy a faster response time on generating the report. By diminishing the time of generating the report, in the business perspective, the hospitals can now decrease the waiting of the patients with this technology. With the implementation of the technology, the hospitals can now decrease the waiting time (which could be translated into money) and increase the efficiency among the radiology experts. If we look at the technology in MIS 4596 point of view, the solution is the product to increase the efficiency of the output without increasing the input of the product.