Winning the Innovation Game: A Recap of Bloomberg Live’s Event on Modernizing IT Without Disruption

On November 14, 2024, industry leaders, innovators, and technology visionaries convened in London for Bloomberg Live’s event, Winning the Innovation Game: Modernizing IT Without Disruption. The event served as a platform to explore how AI, data management, and cybersecurity are transforming industries while maintaining operational stability. Executives across industries such as finance, telecommunications, healthcare, and transportation shared insights on navigating the dual imperatives of innovation and risk management. The event served as a platform for informed discussions related to innovation strategies as organizations look to keep pace in a world of ongoing technological advancements.

A focus on modernization without disruption

Rocket Software's CEO, Milan Shetti, opened with a compelling keynote, setting the tone for the day. He described modernization as both an art and a science, highlighting Rocket Software’s decades of experience helping enterprises evolve mission-critical systems.

“Modernization is evergreen,” said Shetti. "In the IT industry, new trends emerge every five years and you don’t want to rip and replace your existing investments. Instead, the goal should be to maximize their value by integrating them with the latest advancements."

Milan also engaged in a candid discussion with Bloomberg's Duncan Chater about the critical role of humanizing AI to foster intelligence, efficiency, and growth. The conversation emphasized advancing innovation at a sustainable pace and carefully balancing risks with opportunities to ensure long-term success.

Other notable sessions touched on:

1. AI as a catalyst for change

The transformative potential of AI dominated discussions. Deepika Adusumilli from BT Group shared how AI-powered chatbots are enhancing customer experiences in telecommunications. NatWest’s Wendy Redshaw emphasized the importance of ethics in AI adoption, ensuring technologies are unbiased, secure, and environmentally conscious. Panelists agreed that AI's rapid evolution demands proactive strategies to maximize benefits while minimizing risks.

Sara O’Keane of Barclays highlighted how GenAI is democratizing access to advanced tools, sparking unprecedented adoption. With AI now accessible to non-technical users, industries are rapidly identifying thousands of applications for the technology—from financial forecasting to customer engagement.

2. Cross-sector collaboration

A recurring theme was the importance of collaboration across industries to address complex challenges. Participants from healthcare, finance, and transportation shared case studies, showcasing how partnerships drive innovation. NHS England’s Ming Tang detailed how data analytics are improving patient outcomes, while Lloyds Banking Group’s Ranil Boteju discussed leveraging data to enhance financial services.

3. Strategic technology investments

Insights from Bloomberg Intelligence’s CIO survey revealed trends in enterprise technology strategies. Tim Craighead discussed how organizations are prioritizing investments that align with long-term goals, ensuring agility in an evolving digital landscape.

Rocket Software’s role in the innovation landscape

The event reinforced Rocket Software’s commitment to empowering businesses with mainframe modernization tools that modernize legacy systems without compromising stability. With a strong foundation in highly regulated industries, Rocket Software is uniquely positioned to help clients navigate technological shifts, providing scalable solutions that bridge the gap between innovation and continuity.

A vision for the future

As industries embrace AI and digital transformation, events like this highlight the power of knowledge sharing. By fostering collaboration and exchanging best practices, Rocket Software and industry peers are paving the way for a more efficient, secure, and innovative global economy.

To dive deeper into the event’s highlights, visit the Bloomberg recap.