Summary
More and more companies are turning to new low-cost mechanisms to accelerate their digital innovation agenda. Firms are leveraging hackathons, internally funded incubators, digital labs, and open APIs to keep up with customers rising expectations and traditional as well as startup-based competitors. These options lower the cost and shorten the time required to bring new products, apps, and services to market. However, these options, in conjunction with other deflationary pressures like cloud and open source, further squeeze the consulting and services providers. Embracing these new innovation options is a key element in the orchestration role at the center of the CIO's business technology (BT) pivot.
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