Gary Storr, Vice President of Commercial Solutions at Chainyard, presents a webinar to Hyperledger on Trust Your Supplier.

The original article can be found at https://www.hyperledger.org/learn/webinars/hyperledger-member-webinar-supplier-digital-passport-using-trust-your-supplier

Today, blockchain is driving a paradigm shift in the way businesses are thinking. BlockchainÔÇÖs potential to transform many processes across most industries has been noticed by enterprise, government, and education leaders across the globe. Gartner predicts that blockchain will generate an annual business value of over US$176 billion by 2025 and in excess of US$3.1 trillion by 2030.

Where can blockchain be used for business?  Does it replace our ERP system? Is there an easy way to identify blockchain for business use cases?  This blockchain article explores some of the basic questions asked by leaders looking to apply blockchain to their businesses.

What is blockchain?

From a technical point of view, blockchain is a distributed ledger technology where every transaction (block of data) is stored across every network computer. Each block is added after reaching consensus among all the network members. More precisely, each block is appended only with a hash of the previous block and a timestamp.  This combination gives blockchain platforms four core characteristics of immutability (tamper-proof), decentralization (peer to peer), consensus (integrity) and finality (transparency).

From a business point of view, blockchain is a trust protocol. The data is a single source of truth across members without the presence of a centralized official copy, eliminating the need for remediation we often see with todayÔÇÖs business processes. The immutability and transparency ensure provenance and traceability of changes.┬á The decentralized nature enables a peer-to-peer sharing economy. Most importantly, smart contracts ensure immutable logic (a business contract), which is executed without human interaction as per the conditions and trigger agreed between the parties.┬á Together blockchain enables trust by minimizing the amount of trust required from any one member in the network.

Can blockchain replace ERP systems?

The short answer is No. Blockchain shines well when there are multiple parties involved and there is a lack of trust among them. Most ERP environments are within an enterprise, where trust is not an issue so blockchain isnÔÇÖt a full replacement.┬á

However, the scenario changes drastically when enterprise ERPs start to integrate with organizations (partners, vendors, customers) outside the trust boundary of their supply chain.  The untrusted data coming in from the supply chain can damage supply chain visibility, inventory projections, and trade relations. Blockchain is known for its potential to unite a large supply chain network using a decentralized network. Instead of each party in a supply chain network having their own version of data, the blockchain ensures single source of truth across all participants.

Industry is emerging in such a way that ERPs and blockchain will work together to strengthen the integrity and efficiency of supply chains. Trusted blockchain data will feed into the enterprise-specific ERP system for greater business insights. Similarly, production data from the ERP system will enrich the blockchain with information needed for the supply chain ecosystem.

Where can blockchain be used for business?  

The blockchain use cases for business are immense particularly with removing the overhead costs associated with maintaining trust known as trust tax. The blockchain use cases fundamentally provide three opportunity pillars: 

  1. Integration of trusted data reduces need for reconciliation of data
  2. Process automation with smart contracts facilitates automation and improves efficiency
  3. New business models with p2p economy removes intermediaries and presents new revenue opportunities

Based on the above pillars, the following are business patterns where blockchain shines:


To learn more about ChainyardÔÇÖs blockchain consulting services and executive workshops email ÔÇô [email protected].

This article was originally published on Trust Your Supplier..

Today in the world of Supplier Information Management speed and risk mitigation are tremendously important in establishing the partnerships so critical to business growth and success. Unfortunately, most organizations have been unable to address these challenges. Did you know that the typical timeframe to onboard a new supplier within many enterprise organizations is more than 30 days? In a world where speed is currency, that can have a huge impact on a businessÔÇÖs ability to pivot, grow, and innovate. A lot of that has to do with the┬áinformation required to vet a new supplier, and the work required to do that vetting. Numerous spreadsheets, portals, systems, and unsecured document exchanges make this a very cumbersome process. And on the supplier side, each customer demands this same information, creating an incredibly repetitive and non-value added work effort. In summary, itÔÇÖs a lot of inefficiencies and unnecessary attracted cost for everyone.

Trust Your Supplier┬á(or TYS), addresses these pain points and more. Built on IBM Blockchain, TYS is a strategic collaboration between┬áChainyard┬áand IBM and a revolutionary solution that brings efficiency and optimization to address these challenges. ItÔÇÖs compellingly different than any supplier management network in operation today. Simply put, TYS creates a Trusted Source of Supplier Information and Digital Identity that simplifies and accelerates Supplier Onboarding and Lifecycle Management. Supplier-provided trusted data, their identity, is used by buyers to validate and manage the partnership. ItÔÇÖs immediate access to┬áreal-time data┬áthat generates massive savings and reduction of risk. The value proposition is compelling for suppliers too. The single blockchain-based profile eliminates redundant submission of the same information multiple times to different buyers and reduces time to the first transaction and ultimately when they get paid. They are also┬ádiscoverable┬áon the network, creating opportunities for new business with other buyers on the network.

And the game-changer is the┬áTYS Data Marketplace. Such as an App Store on your mobile device, this marketplace is a collection of gold-standard services available from firms that are the worldÔÇÖs leading authorities on financial health, sustainability, risk & resilience, and a host of other capacities that help evaluate the performance of your partners. Renowned firms like Dun & Bradstreet, Rapid Ratings, Ecovadis, and many others offer their services directly on the network where their ratings, scores, and evaluations are aggregated into a single, seamless view for the user. This dramatically reduces the time required to conduct due diligence and qualify a partner, saving time and cost. Best of all, free content is available from practically all of these providers, while advanced premium services are can be purchased ala carte to meet your specific needs.

To ensure state of the art, enterprise-grade trust, TYS is built on Blockchain, creating a decentralized system that is not controlled by a single company. It can quickly become a global standard for supplier and buyer collaboration as well as increasing the participation of third parties who can provide services into this neutral environment.

ItÔÇÖs clear the new normal in supplier management centers on trust. Knowing and trusting your suppliers, in corporate responsibility, sustainability, diversity, financial stability, and a host of other areas are key to ensuring enterprises can responsibly conduct business. Suppliers need to build that trust and continually demonstrate this commitment to their partners. The partnership has never been so important.

I attended the┬á#Blockchain For Supply Chain┬áconference held this week on May 21 & 22, 2018 in Houston and hosted by the University of Houston under the┬á#XChain2┬áumbrella. The event was MC’d by Daryl Price , former NFL star from the 49ers. The consultant team executing the event was great and even had an interview session with Michaella Black.

The University of Houston, Port of Houston and Port of Antwerp provided the sponsorship to this conference and help understand the business case for blockchain in Oil and Gas, energy, container management and shipping. Though there is debate on exactly when, it is expected that port operations will transition from the archaic systems and processes they use today to a more modern approach between 2028 to 2040. There was mention of the Maersk-IBM joint venture, though I wish someone from either firm was there to talk about this.

I met a number of senior folks from various companies including Port of Houston, Port of Antwerp, Shell, BP, Kuhne and Nagel, Ricoh, University of Houston, NxtPort, ShipNext, T-Mining etc. The opportunities in the energy industry are enormous. A number of the consulting companies talked about #blockchain and demonstrated standard PoCs around food provenance, track and trade, Invoice and settlement upon POD receipt, coffee beans provenance etc. Few vendors demonstrated PoCs, though some touted them as production ready. 

Many participants were not aware of the #Hyperledger Project nor the enterprise capabilities of┬á#Hyperledger-Fabric. However, look at the bright side. I learnt about the opportunities where Chainyard can contribute and lead. Here are some key takeaways –

Port Operations have several opportunities to explore how blockchain can help. They include:

Oil and Natural Gas Companies have also been exploring various use cases and some of the ones that I noted:

The Government especially the Customs and Border Patrol also finds blockchain as a potential technology in areas such as

Supply Chain Operations can improve processes around waybills, Bill of Lading, Proof of Delivery and Invoicing.

Overall, I find mini and focused conferences are more useful than massive ones with thousands of participants where having one on one conversations often is limited to a few minutes.

This article was originally published on LinkedIn

Last week on Thurs and Fri, RTP held the 2018 #IoTSlam (https://iotslam.com/). Thanks to David Hill, I had the chance to become familiar about the community and attend this exciting event and the sessions. The annual event by the #IoT Community was well orchestrated from start to finish. 

My first exposure to sensor technology goes back to 1984 when I was working with Dr. Sunderrajan, Head of Research at DCM Data Products, India. I was supporting DCM Data Loggers and PLCs, and learning about Process Control Systems. Our core product was MICON from Powell Systems, USA. Connectivity was achieved via daisy chaining RS232C ports and MUX cards. We were controlling processes by measuring humidity, temperature and other parameters that drive paper and nylon industries .

The primary goal of the IOT Community is to educate developers, thought leaders and C-levels, and drive the adoption of IoT within the enterprise through various means such as their expert working groups, CoE initiatives, advisory groups and events. I spoke with some of the Sponsors such as IBM, SAS, DNA Group, SIMTelligent and RIOT and got to understand the work that this community has been doing.

The key note addresses┬áby Chris O’Conner (IBM GM of IOT) provided great insights into the science. He illustrated the volume of data being generated and how analytics is helping address problems and identify new revenue streams.┬áThe CTO of SAS Software Mr. Oliver Scambenberger talked about the progresses leading to IoT and AI, and the SAS Strategy around IOT and tools to process data in real time using statistical tools and machine learning.┬áSome key enablers for IoT and AI are advances in #5G, sensor technology and availability of AI and cognitive platforms like #IBM #Watson. They have enabled key developments such as machine/computer vision, connectivity, automation, augmentation, image recognition and intelligence.

Some cool messages include – “Data without Analytics is unrealized value, and Analytics without Monetization is unrealized revenue”.

The evolution of sensor technology has greatly helped in the adoption of IoT based applications especially in #HealthCare, #Logistics and #Supplychain. Advancement in 5G is enabling the driver-less revolution such as see-thru sensing, autopilot driving, platooning, advanced entertainment, augmented and virtual reality. Sensor technology is being applied to railroads to address the Positive Train Control mandate. They also help with managing rail safety via sensors attached to axles, wheels and ball-bearings.

With so many devices communicating on the network, the need for security becomes a key concern to prevent a variety of threats ranging from DoS , ransom attacks, spamming to infiltration. Someone talked about a great example from Vegas where millions were stolen from a casino just by attacking a harmless IoT based fish tank thermometer. Nancy Shemwell, CEO of Entegra and Dipto Chakravarty of Echostar emphasized the importance of security. 

I really enjoyed @Rahul Vijay, Global Head of Telecom at Uber, talk about the various Uber Businesses and how IoT is a key driver behind all their future business strategies.

I explored the relevance of #blockchain with many of the minds out there for both identity and access management (#IAM) of IoT devices, maintain accurate records of important IoT readings as inn #coldchain #supplychain applications or even better, drive IoT behavior or workflows through #smartcontracts .

Solving HealthcareÔÇÖs Provider Directory Challenge With a Single Source of Truth

Provider directories are one of the most fundamental parts of the healthcare infrastructure: They list all the physicians in the area broken down by the insurance plans they accept and the medical services they offer, and some might include professionals like nutritionists or physical therapists. Without these essential directories, it would be difficult or even impossible for patients and providers alike to understand the medical resources available in a given area.

Provider directories become better with more data, but they also become more complex to manage. Details such as a providerÔÇÖs address, contact information, service offerings, equipment availability, insurance affiliations, and more can (and┬ádo) change frequently. With this, keeping everything updated for hundreds or thousands of providers ÔÇö ones with various healthcare networks and ever changing service offerings ÔÇö proves to be a serious administrative challenge. Without the time, staff, or tools to keep up with the pace of change, we get inaccurate provider directories that only make healthcare less accessible and efficient.

Various mandates require directories to undergo complete updates monthly, quarterly, semiannually, or yearly. This repetitive provider directory management undertaking contributes to the estimated┬á$300 billion┬áthe healthcare industry spends every year due to administrative complexity ÔÇ£that could be eliminated without harming consumers or care quality.ÔÇØ Everyone agrees we need a better way to manage provider directories ÔÇö and emerging technologies could certainly provide that solution.

The Cost of Provider Directory Management

Inefficient provider directory management might sound like a minor problem that creates a small cost. However, the healthcare industry spends┬á$2.1 billion┬áon provider directories annually ÔÇö and often with underwhelming results. (In fact, a Medicaid audit found that┬ámore than half of provider directories┬ácontain significant errors.) The scope of this problem should be cause for alarm. When provider directories arenÔÇÖt accurate and complete, there are implications beyond wasting a few billion dollars.

Those include patients who go to out-of-network providers, providers that struggle to keep their billing and administrative costs down, health information exchanges that cannot share information securely, and health plans that risk regulatory noncompliance. The point is, anything less than a perfect provider directory has negative impacts on both the healthcare industry as a whole and the patients it serves. Unfortunately, the scale and complexity of provider directory management make it highly prone to imperfection. ThatÔÇÖs where blockchain in healthcare comes in.

Blockchain Technology in Healthcare: A Revolution in the Making

ThereÔÇÖs no shortage of blockchain applications in healthcare, and there will be many more as healthcare-related digital transformation becomes a priority throughout the industry.

When it comes to provider directory management, blockchain could eliminate the need for directory managers to contact each provider directly to inquire about information updates. Instead, those providers could report that information to a blockchain ÔÇö a distributed ledger with┬áimmutable information┬áÔÇö whenever something changes (think phone numbers, office addresses, and so on).

At the same time, a smart contract can trigger such changes to all records that are applicable, thus reducing manual efforts. In this way, keeping a provider directory up to date would simply mean having providers update the blockchain directly in one place (rather than forcing insurance companies to make their own lists).

A decentralized repository of provider information ÔÇö one thatÔÇÖs verified by trusted third parties and acts as a single source of truth ÔÇö could also eliminate the need for multiple entities to manage common data elements across different directories. Finally, a provider directory based on blockchain could integrate with other technologies and data sources to become a high-value resource by providing additional services on top of such a network. These capabilities might include automated credential checks, real-time notifications on facility status, and the automation of repetitive and mundane tasks that go into managing provider data.

Blockchain and healthcare are natural partners because they have similar priorities: accuracy, security, privacy, efficiency, and accessibility. For the purposes of provider directory management (and countless other aspects of healthcare), a blockchain serves as a single source of truth that integrates all critical information under one umbrella for all participants. In this particular blockchain use case, it integrates up-to-date information from providers so individual entities donÔÇÖt have to solicit updates themselves or operate with an incomplete, out-of-date directory.

Even in other aspects of healthcare, blockchainÔÇÖs use cases promise to streamline almost all aspects of administration. Imagine what could happen if countless patient directories ÔÇö each with its own issues ÔÇö consolidated into one accurate, authoritative directory that also happens to be simple for the patient to privately control, manage, and share.

The network might provide sufficient privacy protections and protocols using zero-knowledge proof to exchange personal health record information without revealing sensitive information. Because it can safely integrate with systems, blockchainÔÇÖs applications in this healthcare function promise to upend expectations and elevate results faster and further than weÔÇÖd ever think possible.

In short, provider directory management is simply the foundation for many future healthcare-focused solutions that can be built on the blockchain. This sets the stage for a shareddigital transformation in the healthcarespherethat benefitsall parties ÔÇö whether thatÔÇÖs by paving the way for scalable precision medicine, ensuring pharmaceutical provenance, enabling real-time collaboration on healthcare claims, or one of its many other promising capabilities.

Now, the question for leaders in the healthcare sphere is this: How could blockchain-based digital transformation shift your organizationÔÇÖs day-to-day functioning for the better? Learn more about blockchainÔÇÖs array of use cases in digital transformation┬áhere, or┬áreach out to Chainyard┬áto discuss how it could fit in your own strategy.

Capture the Benefits of Cloud Migration by Sticking to These Best Practices

Enterprise spending on digital business transformation continues to grow as companies look to take advantage of the benefits of cloud migration. Some of those benefits ÔÇö like reduced infrastructure and maintenance costs ÔÇö are seen almost immediately following a migration, whereas others are more cumulative. The efficiency and performance gains that come with streamlined operations, more rapid innovation, and generally improved security increase with cloud maturity, which is why leaders can no longer afford to delay the transition.

In 2020, 68% of CIOs indicated that cloud migration or expansion would be their top IT spending priority, according to Deloitte research. Data from Gartner revealed that more than 70% of companies had migrated at least some operations to the cloud by mid-2021.

Not every company has the same goals when migrating infrastructure to the cloud, and the decision might be influenced by a wide range of factors. Some companies might need to support a remote workforce in the wake of the pandemic, and others might seek greater resilience and flexibility amid uncertainty and disruption in their industries. Many hope to improve their ability to adapt to changing consumer expectations, and almost all are concerned about keeping their data safe in the face of more frequent and sophisticated cyberattacks.

Regardless of their initial goals, companies that do move to the cloud will inevitably experience the following benefits:

Managing Expectations

The benefits of the cloud are often transformative for organizations that can achieve them, but those transformations donÔÇÖt happen automatically. Depending on their current operational posture, the challenges of cloud migration can be numerous and difficult to navigate for some companies.

Application upgrades might be required in the migration effort, as some might not be ready for the cloud. More importantly, key personnel and processes will have to adapt, as the move from on-site infrastructure can create significant changes to workflows and require new skills and expertise.

If companies donÔÇÖt give teams enough time to adjust, theyÔÇÖll face significant limitations to adoption. Likewise, leaders must make time to evaluate requirements across cloud service providers and carefully review service agreements or risk locking themselves into suboptimal solutions.

To minimize these challenges, companies should adhere to the following best practices:

  1. Anchor your migration strategy in real business goals.

Companies that experience the most benefits of cloud migration view the cloud as a cornerstone of their business strategy rather than merely an accelerator. But before you use the technology to transform your enterprise, identify use cases that could potentially provide the most return on your investment while moving you closer to core strategic objectives (e.g., cost reduction, improved scalability, increased innovation, and so forth).

  1. Outline a governance model for cloud operations.

Sound data management processes and clearly delineated roles and responsibilities will be beneficial during your initial migration and beyond. Try to codify these and include them in a governance model along with policies for controlling costs, reducing waste, accelerating implementations, and meeting other organizational goals.

Over time, a well-defined model will help drive adoption across your company and ensure that cloud regulatory compliance and security are key considerations when planning for each new initiative.

  1. Ensure you have the right skills and expertise.

Making the most of the cloud requires not only technology, but also personnel with the knowledge, resources, and authority to drive initiatives. As more companies expand their cloud operations, the market for talent will get more competitive. Training programs that enhance the cloud capabilities of your existing workforce and partnerships with third-party specialists can help balance hiring costs and simplify change management.

  1. Standardize and automate.

A cloud migration project will present your company with opportunities to standardize new processes and tools, including those related to monitoring and security. Take advantage of these to improve your long-term operational support profile and streamline customer support.

Additionally, consider automating repetitive processes related to provisioning, scaling, monitoring, remediation, and other initiatives to maximize efficiency as your cloud usage accelerates.

  1. Minimize disruption.

Business disruption during and after cloud migration projects can eat into your overall return on investment and even pose existential threats. When planning your migration, consider the latency of cloud operations on internal and external users, and work with individual business units to determine the appropriate pace of adoption. Disruption can also occur after migration, most notably in the form of regulatory pressures. Given the ongoing evolution of data and privacy legislation, executives should regularly meet with their compliance and legal teams to ensure that the controls in place align with all relevant mandates.

For more information about how adopting cloud infrastructure could impact your organization, contact Chainyard to consult on how we can work together.

Chainyard has been recognized as one of Top Cloud Consulting Companies by DesignRush

In the Face of New Threats, Trust Your Supplier Is Helping Telecom Network Operators Build Stronger, More Resilient Supply Chains

Digital transformation in the telecommunications industry was already underway when COVID-19 arrived. But as in other industries, the disruption sparked by the pandemic has accelerated efforts to leverage technology on a variety of fronts. Of course, it has also introduced new obstacles that major firms in the sector are still figuring out how to navigate.

Among the biggest challenges faced by the telecom industry today is a persistent and sophisticated cyberthreat. As companies become more reliant on digital infrastructures, malicious actors ÔÇö whether theyÔÇÖre working independently or under the direction of adversarial foreign governments ÔÇö are increasingly setting their sights on organizations that are invaluable to the global IT supply chain. That includes the worldÔÇÖs largest telecom providers, whose clients often include major government agencies.

ThereÔÇÖs also the well-documented semiconductor shortage. When chip manufacturing plants shut down and ports succumbed to gridlock during the pandemic, chipmakers scrambled to meet excess demand. Given that semiconductors are critical components of all advanced technologies and that demand surplus isnÔÇÖt expected to subside any time soon, the telecommunications industry will continue to grapple with supply shortages.

And then, of course, thereÔÇÖs the issue of compliance. The patchwork of data privacy legislation that now spans much of the globe is creating additional pressures for companies in a wide range of sectors, and telecom players are no exception. Although digitalization in the telecom industry has largely been aimed at increasing speed and agility, new regulations calling for greater transparency in reporting and more robust data security practices tend to be at odds with those objectives. Like companies in other industries, telecom providers have struggled to be nimble while sharing an ever-increasing amount of data and adhering to more stringent legislative mandates.

Innovation as an Equalizer

As history has demonstrated countless times, pressure is often a key ingredient for innovation ÔÇö including all things related to telecommunications transformation. The issues above have forced telecom providers to respond with solutions, and many are now answering the call. Firms such as Nokia, Vodafone, and BT have joined forces with Chainyard and leaders in other industries to implement Trust Your Supplier (or TYS): a blockchain-based solution that improves supplier qualification, validation, onboarding, life cycle information management, compliance, and risk management.

TYS is accelerating digital transformation in this sector and others by allowing for greater transparency and visibility across every supplier touchpoint. In the process, it supports more robust compliance activities, such as those supporting diversity, sustainability, cybersecurity, and anti-corruption.

See More, Know More

Before TYS, most telecom providers faced a complex supplier onboarding process that typically occurred apart from other core processes (such as those associated with sales and contracting). TYS integrates with the enterprise resource planning platforms leading telecoms have already deployed, leveraging existing data to automate integral onboarding functions. This has significantly reduced the time needed to onboard new suppliers and allows qualified suppliers to immediately assume the vital role of supporting telecoms and their customers. By making it easier for procurement and partnership teams to collect, manage, and access supplier data associated with, say, diversity and inclusion activities, TYS also alleviates some of the pressures created by stringent compliance mandates.

Without the ability to continuously monitor supplier performance in todayÔÇÖs fast-paced global economy, organizations will continue to struggle with capturing the full benefits of digital transformation in the telecom market (and in other markets). TheyÔÇÖll face higher acquisition costs, greater procurement risks, potential compliance fines, and less resilient supply chains. TheyÔÇÖll also miss out on the opportunities that come with access to supplier performance analytics and a more diversified supplier base.

Moreover, companies that implement TYS are achieving these three major benefits:

1. Supply chain network visualization.

Increased transparency is enabling companies to more easily identify vulnerabilities ÔÇö think bottlenecks or supplier clusters in potentially risky areas. They also are able to build and maintain risk profiles for all suppliers, vendors, and third parties, allowing for ongoing visibility as risks fluctuate.

2. Continuous monitoring.

TYS is giving companies the ability to single out specialty or single-source suppliers and other vendors that could directly or indirectly exert outsized influence on their business results. They have near real-time insights regarding business processes that might lead to shortages or other disruptions, allowing them to address potential issues proactively and avoid unnecessary costs associated with remediation.

3. Improved supplier diversity.

A homogenous supplier base can pose an existential threat to a telecom providerÔÇÖs business, especially if it relies heavily on suppliers in areas characterized by high geopolitical or environmental risk. TYS can provide participating companies with greater access to a network of qualified suppliers, allowing them to mitigate these risks and to ensure remediation processes are in place should they be needed.

Telecom providers are playing a leadership role in the ongoing development of TYS. However, the above benefits are giving companies across many industries an advantage. As the risks associated with regulation, cybersecurity, and supplier consolidation continue to mount, TYS is giving participating firms the ability to navigate them with confidence.

3 Tips for Effective Change Management During Digital Transformation

Enterprise spending on digital transformation technologies was already increasing across almost all sectors prior to the pandemic. Now, the race to modernize legacy IT systems has become an all-out sprint ÔÇö and no organization wants to be left behind.

Although the heightened sense of urgency is indeed warranted, it has caused some leaders to forgo the critical planning that drives successful business transformation projects. But neglecting to plan for change management throughout the digital transformation process can be a recipe for failure.

The Cost of Failing to Plan

Problems with digital transformation begin when companies commit to implementing solutions that arenÔÇÖt aligned with their overall business goals. Leaders who feel that theyÔÇÖre a part of a technological arms race want to move fast. However, without a clear agenda linking initiatives to corporate priorities, they risk moving in the wrong direction. A sound digital transformation strategy is the most effective tool for preventing this scenario.

In general, the best strategies identify the objectives that, if met, will deliver the most value to an organization over time. They can help leaders prioritize digital transformation efforts by highlighting the actions and investments that add immediate value and present opportunities for collecting feedback to inform future progress. Even the most powerful digital transformation technologies canÔÇÖt deliver value without a plan for implementation, and a sound strategy will also strengthen enterprise readiness by outlining the personnel, skills, processes, and other components necessary to ensure solutions yield the most favorable results.

The Importance of Purpose

Every company has unique goals, which means identifying an optimal outcome isnÔÇÖt always straightforward. If youÔÇÖre struggling to define your end goal, start by defining the problem.

Jay Ferro, CIO of Quikrete, recommends creating a problem statement that reveals the ultimate purpose behind your plan. ÔÇ£The ÔÇÿwhyÔÇÖ of your organizationÔÇÖs digital transformation might be around improving customer experience, reducing friction, increasing productivity, or elevating profitability.ÔÇØ By succinctly articulating why this transformation is necessary, you can ensure that a clear purpose guides your subsequent actions and technology investments.

Digital transformations are complex and often require you to make wholesale changes to various components of your operations simultaneously. These might include process transformations, business model transformations, organizational transformations, or other changes that must occur to facilitate the successful integration of new technologies and capabilities. These and other changes must occur to facilitate the successful integration of new technologies and capabilities. Below are a few steps you can take to manage these effectively over the course of a digital transformation project:

  1. Map out the full impact of change.

Your problem statement can help pinpoint where change is needed most. As you reach the tactical planning stage, start thinking about the smaller changes that will occur during the transformation and their potential effects.

Ask yourself what outcomes they support and whether those are aligned with your larger goals. Does a change improve regulatory supportability or expose you to compliance risks? If itÔÇÖs the latter, are you prepared to manage those risks? Does the change improve the security and operational profile of your company? Will it lead to new revenue streams or result in unnecessary fragmentation? Is it necessary to remain competitive or maintain market share? Is it a reaction to imminent threats or a response to long-term predictions?

The status quo might be unsustainable, but itÔÇÖs also unwise to initiate change for its own sake. Understand the potential consequences of each change youÔÇÖre considering, and weigh those carefully against your larger goals before moving forward.

  1. Address skill gaps promptly.

Most companies in the early stages of digital transformation have some knowledge and skill deficiencies to be addressed to ensure effective change management. So once youÔÇÖve mapped out the scope and impact of your various business transformation projects, decide how youÔÇÖll fill existing gaps.

Hiring additional in-house talent is an option, though it could be expensive given the unprecedented demand for technical talent in the current labor market. Otherwise, you could partner with experienced consultants to help you coordinate and manage your processes, which will both help you fill the skill gaps and provide additional speed and flexibility.

All in all, make sure the team you choose to oversee the transformation has the necessary skills to make the important decisions that will determine your success.

  1. Keep communication open and ongoing.

Ongoing, transparent communication is essential for ensuring overall readiness prior to implementation and for securing organizational buy-in once itÔÇÖs completed. Moreover, it can help you prevent unnecessary turf wars among business units and minimize disruption during the transition.

You should regularly meet with the team responsible for administering your initiatives and give frequent updates to the employees, customers, and other stakeholders ultimately impacted.

By making effective communication one of your highest leadership priorities throughout your businessÔÇÖs transformation, you can foster a digital transformation-ready company culture that embraces continual evolution. In todayÔÇÖs fast-paced business world, thatÔÇÖs exactly what it takes to win.

The healthcare industry is under intense pressure to improve its efficiency. However, interoperability between technology and various integrated systems presents many challenges that are hindering health facilities from being fully connected and productive.

We have known for years that healthcare needs solutions that artificial intelligence can provide. But the initial proofs of concept have taken too long to materialize. Without clear boundaries and use cases showing how AI in healthcare can work, leadership teams are unable to horizontally collaborate with each other.

How AI in Healthcare Could Solve Interoperability Problems

Technology has the potential to transform the way healthcare works for patients, but right now, interoperability is difficult to attain. Despite industry guides such as the Fast Healthcare Interoperability Resources, data is still a messy business. Data is stored in different ways and in different silos ÔÇö and not every facility has the ability to read and understand the information contained within the respective silos and make it actionable.
This has a heavy impact on how practitioners work with technology. A radiologist reading film and a doctor making a diagnosis for a chronic pain patient only have access to their siloed expertise. With AI solutions in healthcare, data can be drawn from different disciplines and diagnosis can become faster and smarter.

When used in conjunction with AI, blockchain technology has the power to help practitioners and organizations work together without security risks. Because the blockchain represents a transparent, single source of information that cannot be changed, it can store data from multiple sources and create a harmonized picture of truth that different users can access without bias. In addition, limits can be put in place as to who has access to the data.

This helps healthcare experts form a central hub where the very best knowledge, therapies, and drug research can be pooled, therefore helping target diseases more effectively while keeping patient and research data absolutely secure and private.

ItÔÇÖs clear that leaders at healthcare organizations need to remove the siloed approach and develop an atmosphere of increased collaboration. But how, exactly?

How Blockchain, AI, and Healthcare Can Work Together

Blockchain technology in healthcare helps fulfill all four kinds of interoperability defined by the Healthcare Information and Management Systems Society: foundational, structural, semantic, and organizational. BlockchainÔÇÖs uses in healthcare create a basis ÔÇö a structure ÔÇö where data can live safely and transparently. Then, blockchain can enable a rendering that helps different kinds of readers see and understand the data.

Two aspects of blockchain technology that are especially interesting to the healthcare industry are permissioned blockchains and smart contracts. A permissioned blockchain maintains the privacy of data, knows all the stakeholders, and makes data viewable by actors on the network who are authorized to see it. Smart contracts are ÔÇ£instructionsÔÇØ on the blockchain that are executed automatically once all necessary conditions or events are met. This means decisions can be made available automatically without human intervention. ThatÔÇÖs where the power of AIÔÇÖs uses in healthcare really materialize. This harmonized dataset ÔÇö coupled with safe and secure automation ÔÇö means that AI can be used to make faster, better, and more predictive decisions.

Data is the engine behind AI, but itÔÇÖs also becoming the engine behind healthcare systems and how doctors diagnose and treat patients. If we can aggregate and translate vast amounts of data into streamlined workflows, AI can be used to efficiently diagnose and monitor patients, detect illness, accelerate drug development, and seamlessly run clinical trials.

The ingredients for interoperability are all there, but itÔÇÖs now up to operators and developers to find ways to work together. The benefits of AI in healthcare are massively transformative ÔÇö as long as we can find ways to solve problematic perceptions of blockchain and data privacy and get human beings to open up their silos.

No one technology will save the future of healthcare interoperability. It will take collaboration between developers, operators, academics, drug researchers, and an interwoven stack of technologies to bring together a universe of data and put it to good use.

This article was originally published on Electronic Health Reporter.