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Vikas Vij headshot

Deloitte Ignites Innovation to Build a Better Future for All

By Vikas Vij

Companies driven by a mindset for innovation are better placed to find new and sustainable solutions that can help solve some of the world’s most pressing problems. Due to their expanding knowledge base and widening perspectives in their zest to innovate, these companies are able to act more responsibly and make the world a better place.

Deloitte’s 2018 Global Impact Report shows that the company is demonstrating a new mindset for action and innovation, redefining corporate success, challenging expectations, and leading by example. Deloitte insists it is a key participant in the global technology and innovation ecosystem that is driven by a goal of building a better future for all.

Innovating through Business Activities

The era of digital technology continues to open up new opportunities every day. Deloitte says it is working to bring together collaborative capabilities across ecosystems and disciplines to help shape the future in areas such as energy, banking and mobility.

Digital Revolution: Deloitte makes the case that it is leading businesses into “Industry 4.0” by showing how to integrate the physical and digital environments, and utilize data from multiple sources to bring transformative changes to how businesses operate.

Addressing Healthcare Challenges: Deloitte claims it is providing innovative healthcare perspectives and strategies to produce superior health experiences and outcomes. The company is currently designing an XPRIZE system that aims to make early detection of cancer and enable greater accessibility of treatment options.

Preparing Business for AI Disruption: As the evolution of the “augmented worker” continues, Deloitte says it is helping businesses adapt their operations to the new evolving technologies, including robotics and artificial intelligence (AI). At the same time, the company is preparing their people to thrive in the wake of forthcoming AI disruption.

Promoting the Sustainability of Resources: Deloitte is advising businesses manage the impact of natural resources consumption, energy use, waste generation and release of carbon emissions in a sustainable manner. It is enabling companies to turn analytical insights into actionable risk mitigation opportunities, delivering cost savings and improving economic value.

Innovation through Cooperative Endeavors

Deloitte is engaging with global leaders, business managers, incubators, and startup hubs about new business management practices and models that help transform how people lead and innovate. For example:

Singularity University Alliance: In FY2018, Deloitte and Singularity University extended their alliance to help organizations reduce threats and benefit from new technology opportunities. The university, along with Deloitte, has already conducted 30 technology conferences, engaging over 3,700 clients.

Social Innovation: Deloitte has expanded its partnership with New Profit, a ‘venture philanthropy’ nonprofit. The company believes that social innovators should receive the same support that enables businesses to reach millions of people with their products and services.

Strategic Alliances: Member firms of Deloitte have created alliances with some of the world’s leading companies, including Amazon, Facebook, HP, SAP and Oracle to develop new approaches that forge new business models and shape markets.

“To drive individual and collective prosperity, business needs a new mindset for action,” said Punit Renjen, Global CEO and David Cruickshank, Global Chairman of the Board, in their letter to the shareholders. “For Deloitte, that mindset centers on our commitment to helping people prepare for the work of the Fourth Industrial Revolution.”

Image credit: Deloitte

Vikas Vij headshot

Vikas is an MBA with 25 years of managerial and entrepreneurial experience. He is the author of “The Power of Money” (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas runs a digital content development company, and personally loves to write on global sustainability issues.

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