Two questions top every CEO’s digital agenda
What does the company of the future look like?
How do we get there?
The future is driven by digitization or digital transformation .
In business, disruption or a fundamental change, is how companies
generate value for their owners and other stakeholders. Normally the core and fundamental reasons tends to be technology , new invention , new business model .But the way forward will continue to be the digitalisation of customer experience and /or business operations.
The combination of such technological advances is spurred by computing power, cheap storage, AI, robotics , IOT etc means that a large number of business processes will be automated in the near future. These very real technological possibilities are creating
Business value and disruption today.
Driving new customer engagement and growth opportunities,
Cost efficiency opportunities,
New business models. Etc
Ability to understand and absorb in your systems will ease this transition and growth.
The Four Pillars of Digital Transformation
Who makes the transition is the big question and winners will normally need to adapt in the following four areas
Setting up Digital experience platforms
Value will be determined by the number and quality of customer relationships versus the number and size of product or service transactions. As of today the seamless customer experience is still in its adolescent years and evolving .
Building Digital Talent and Organization
The role of humans will be changing as automated business processes will start creeping in and continuously improving them as well. For the human resources reskilling will be the key as many new jobs will be created for people. Over time, there may a shift from processes operated by humans to processes designed and audited by humans. The implications for talent and organization will be profound.
Data analytics and and its application to decision making
For companies of the future, data will be the new energy like petrol today and will likely to be the most unique or protect able competitive advantage of the future/. To fully capture the benefits of AI and learning, companies need to be smart about how to build their data and digital platforms in light of their legacy systems.
Digitizing Operations and Automating Processes