Google Cloud is a preferred destination for enterprises embarking on their digital transformation journeys. Over the years, we’ve helped leading retailers reinvent shopping, major manufacturers rethink production, and clients across industries reimagine their hybrid work environments. All of this has been made possible by partners building, innovating, and offering services on Google Cloud.
Google Cloud’s approach to industry solutions has been to provide purpose-built data and AI platforms and an open cloud for our partners, who bring industry domain expertise and offerings. Now, to bring our products, services, and technologies closer together with our partners’, we’ve launched the Industry Value Networks (IVN) initiative.
Industry Value Networks combine expertise and offerings from systems integrators (SIs), independent software vendors (ISVs) and content partners to create comprehensive, differentiated, repeatable, and high-value solutions that accelerate time-to-value and reduce risk for customers. And because they are pre-integrated, IVN solutions minimize the need for clients to build bespoke solutions for common challenges.
These formalized IVNs elevate our transformation and open cloud paradigms, helping customers swiftly apply solutions to solve industry challenges.
There are many industry challenges that still need to be addressed. “In retail, sub-optimal experiences and inability to find products is a leading cause of site abandonment and lost retail sales. This amounted to more than $2 trillion a year globally, with more than $234 billion in lost sales in the United States alone,” said Carrie Tharp, Google Cloud VP for Strategic Industries. Separately, in healthcare, a study by the American Medical Association (AMA) found that nearly nine out of 10 physicians reported that delays in prior authorization had a negative impact on patient clinical outcomes, with patients sometimes abandoning treatment entirely. These are just a few of the complex business problems that clients are facing every day.
Rayn Veerubhotla, Managing Director for Partner Engineering, Google Cloud, highlights that, “Google Cloud’s AI-based offerings enable clients and partners to accelerate their digital transformation. For example, Discovery AI provides Google-quality search, browse, and recommendations on digital properties. The Healthcare Data Engine generates longitudinal patient records across siloed data systems in near real time. Med-PaLM 2 harnesses the power of Google Cloud large language models (LLMs) to provide high-quality generative answers to medical questions. When these capabilities are integrated with partner offerings in the IVN framework, they provide end-to-end solutions for critical industry business problems.”
We also launched the Data & AI Cloud for Supply Chain initiative today. This will simplify access to the most relevant business data, further enabling IVN solutions to address critical industry use cases.
Which IVN solutions are we launching?
Supply Chain: Clients want resilient supply chains that can handle unpredictable demand, disruptions, and sustainability concerns. Accenture and Google are working with project44 and NGIS to target multiple use cases such as increasing first-mile sustainable sourcing validation of commodity suppliers and bringing real-time transportation intelligence for supply chain resilience. Google and Accenture are collaborating to provide optimized fleet management for mid-mile and last-mile deliveries to reduce emissions and bring cost savings.
Sustainability: Businesses need to adopt sustainable practices due to climate change, regulations, brand image, and consumer/investor demands. Deloitte is launching an IVN solution with Geotab to help companies with the end-to-end electrification of their fleets. With this, customers will be able to utilize an interactive dashboard to help easily map their entire electrification journey. This IVN will be augmented with incremental value from partner solutions that help measure clients’ progress towards carbon neutrality.
Financial Services: The financial services industry is heavily regulated and faces rising costs, competition, cybersecurity threats, and elevated customer expectations. Quantiphi is launching an AI-enabled insurance underwriting platform leveraging Unqork and Dociphi, Quantiphi’s IDP Platform on Google Cloud. This will help carriers automate the complex underwriting process in commercial insurance. In subsequent iterations, this IVN solution will be integrated for dynamic entity resolution and fraud analysis offerings from other Google Cloud partners.
“Quantiphi is committed to solving the most intricate business challenges in the financial services and insurance sector. This will expedite application processing times, improve quote-to-bind ratios, and improve broker-customer user experiences.” – Bhaskar Kalita, Global Head of Financial Services and Insurance, Quantiphi
What’s next?
In Q4 2023 and early 2024, we’ll launch more IVNs with strategic partners along with customers. Some of the IVN solutions that are in progress include:
Financial Services: Modernize core banking architecture for better customer experiences, product innovation, real-time reconciliation, and resilience for regulatory reporting with Thought Machine. In addition, we’re building an IVN for risk and fraud management, Know your Customer (KYC) and entity resolution (ER) with Quantexa and strategic SI partners.
Retail and CPG: Consumers will be able to research products and services through generative AI-powered interfaces. ISVs such as commercetools, Lytics and Oriient are building a retail media network offering that leverages a C360 customer data platform to monetize digital properties.
Healthcare/Life Sciences: Accelerate operational efficiencies in revenue cycle management for payors through Google Cloud generative and healthcare AI-enabled prior authorization in conjunction with Myndshft & Pegasystems.
“Google Cloud and its partners will unlock our clients’ potential through innovative IVN solutions. Whether it is retail, consumer goods, financial services, healthcare, manufacturing, or other industries, IVN solutions will help clients deliver exceptional end-user experiences, improved operational efficiency, and bring sustainable practices,” said Bron Hastings, Vice President of ISV Ecosystems and Channels at Google Cloud.
Google Cloud encourages client and partner feedback by leveraging the trusted tester program and early adopter access for product launches. For IVN, clients can now participate with use cases and solutions, and partners can bring forward-looking industry innovations.
“We are thrilled about the next phase of our transformation cloud with the launch of Google Cloud’s Industry Value Network solutions that are aimed at solving some of the toughest challenges our customers are seeing today,” said Kevin Ichhpurani, Corporate Vice President, Global Ecosystem and Channels at Google Cloud.
To learn more about existing IVN solutions — or to inquire about developing a new one — please contact us at [email protected]
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