High-Tech Wardrobe
A $3,250 wardrobe called ThreadRobe can fold your laundry, steam your wrinkled clothing, and even help pick out your outfits after you attach RFID (radio-frequency identification) tags and take photos of each item using the companion app. ThreadRobe will even display clothes you own that match a photo of clothes you are considering purchasing.
Our View: Innovative and disruptive technologies permeate our daily lives and can change even our most mundane tasks like getting dressed. Return on investment for innovation isn’t always best measured based on total ROI, but rather on how quickly those revenues are realized. In our research Enablers and Vectors: Accelerating Innovation Deployment, learn more about enablers, technologies or human behaviors that enable new products and vectors, platforms where things happen on top of them.
Third-Party Vendors Generating Corruption
The PwC Forensics Summit brought together financial crimes experts from the public and private sectors to share their ideas and practical approaches to stopping the ever-present threat of corruption from third-party vendors. Ninety-three percent of the companies participating in the Summit said it was likely that they would experience procurement fraud in 2017-18. Forensics Partner of PwC's consulting practice in Thailand, Vorapong Sutanont, said that while employees are the most common perpetrators of fraud, they often collude with third-party vendors to carry out their plans and this collusion often starts during the vendor selection process.
Our View: Taking the appropriate steps during the vendor selection process can mitigate the risk of fraud later in the procurement and payment activities, but the vendor selection process is time consuming and often started too late. Take control of the vendor selection process using our research Implement a Proactive and Consistent Vendor Selection Process.
JPMorgan Chase CIO Wins Leadership Award
HMG Strategy, the world's largest independent provider of executive networking events and thought leadership for technology executives, recently presented Dana Deasy, Managing Director & Global CIO, JPMorgan Chase & Co, with an HMG Strategy 2017 Transformational CIO Leadership Award. These annual awards recognize the highest performing Chief Information/Innovation/Technology Officers who have excelled in leadership, innovation, transformation, industry give-back, growth management, and legacy direction.
Our View: IT leaders, both new and existing, need to enact change and they need to do it quickly. It’s not just a transformation; they are leading a revolution – and the first rule of a revolution is speed. See our research to Inspire an IT-Led Revolution.
The Lift: 70-year-old Woman Runs Seven Marathons Around the World in a Week
Between January 25 and January 31, seventy-year-old Missouri woman Chau Smith ran 26.2 miles in Perth, Australia; Singapore; Cairo; Amsterdam; Garden City, New York; Punta Arenas, Chile; and King George Island, Antarctica. Running seven marathons on seven continents in seven days required extensive training for Smith, an experienced marathon runner. "It took me eight months to really train," Smith explained. "The last four months, I really put in long, long runs. Every week, I ran from 15 miles to 130 miles."