First Crowdsourced Technology Innovation Forum for Business Processes Launched by Genpact
Genpact collaborates with MIT Center for Collective Intelligence to help re-imagine large enterprise operations
NEW YORK, NY, November 24, 2014 – Genpact Limited (NYSE: G), a global leader in designing, transforming, and running intelligent business process operations, is collaborating with the Center for Collective Intelligence (CCI), a research unit of the Massachusetts Institute of Technology (MIT) which examines how the latest technologies are changing the way people work together. The goal of this expanded collaboration is to generate non-incremental innovation in information-based operations through a new online community enabling the crowdsourcing of ideas. The Intelligent Operations Exchange (IOX) community helps participants "stumble into" innovative uses of leading edge technologies in business process operations.
The Genpact and MIT CCI collaboration first began in 2012 to identify novel technology-based practices for process operations, and contributed to the maturation of groundbreaking practices such as Operations Network Analytics which applies big data social network analysis to large organizations in order to improve the effectiveness of operations.
IOX's unprecedented use of “crowdstorming” (crowdsourcing + brainstorming) drives a deliberate collision of creative and serendipitous perspectives of thousands of people with diverse backgrounds such as industry experts, MIT scientists, Genpact practitioners, and clients. When confronted with novel technologies and asked to find applicability in their own world, this community will become the first place for process operations professionals to unleash their creativity.
The IOX community is exploring the application to business process operations of technologies across hardware, software, and analytics – such as wearable devices and remote-controlled telepresence robots, personal automated assistants, rapid automation, and collective intelligence activities like prediction markets. Genpact, MIT CCI, and the community will continuously evaluate and select high-potential ideas for further investment and development.
“Our center’s mission is to gain a deeper understanding of internet-enabled collective intelligence,” said Robert Laubacher, Associate Director of CCI.“We’re excited to work with Genpact to apply this approach in the realm of intelligent operations.”
“The underlying pace of technological change is accelerating and the real obstacle to change is the ability of leaders to re-imagine the fabric of their business processes and make their operations ‘intelligent' - able to predict, act, and learn from experience,” said Gianni Giacomelli, senior vice president for product innovation and chief marketing officer, Genpact.“With MIT’s Center for Collective intelligence, we want to ‘innovate innovation’ in a space where subject-matter experts often silo themselves into narrow domains, dampening the power of a key ingredient of innovation: diversity.”
The collaboration will involve senior executives from the Genpact Research Institute on Intelligent Operations, a specialized think tank already harnessing the collective intelligence of Genpact, its clients and partners. The Genpact Research Institute conducts research on important topics related to the future of enterprises’ operating models, from front to back office, across nine industries.
About MIT Center for Collective Intelligence
The MIT Center for Collective Intelligence brings together faculty from across MIT to conduct research on how new communications technologies are changing the way people work together. This first-of-its-kind research effort draws on the strengths of many diverse organizations across the Institute including; the MIT Media Lab, the Computer Science and Artificial Intelligence Laboratory, the Department of Brain and Cognitive Sciences, and the MIT Sloan School of Management. More information is available at http://cci.mit.edu/.
Genpact (NYSE: G) stands for “generating business impact.” We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that foster growth and manage cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEPSM) proprietary framework integrates effective technology and data-driven insight into the fabric of enterprise processes to help our clients be more competitive. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have rapidly grown to over 67,000 people in 25 countries with key management and corporate offices in New York City, but our global critical mass doesn’t dilute our flexible and collaborative approach and our management team still drives client partnerships personally. Our clients attribute much of our success to our unique history – behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
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For more information:
Gail Marold (For Genpact Media Relations)
Matthew Kirdahy (For Genpact U.S.)
Quintin Keanie (For Genpact Europe)
+44 (0)207 309 1053