Digital transformation is not a new idea. The term, “digital transformation” has evolved from a trendy phrase to a must-have business strategy and shows no signs of slowing down. In fact, worldwide spending on these projects are expected to surpass $2.1 trillion by 2021 according to TechRepublic report .
Making a success of digital transformation is as much about supporting cultural change across the business as it will be about buying about buying shiny new systems and services. Many tech executives have agreed in the following pillars to succeed with digital transformation in the post-COVID age :
1. Create faster planning cycles for digitalization
Major General Tom Copinger-Symes, director of military digitization at UK Strategic Command, says coronavirus has meant slower moving organizations have had to move quicker. According to Copinger-Symes, that has to change, because increasingly our competitiveness is found through the software not the hardware. And if you adopt decade-long planning cycles with software, you’re not going to be very competitive, he says. In other words, we were being forced to be change our planning to a much shorter loop, so I think this pandemic has accelerated that process. And I’m not saying we’re on top of it or we’ve got it all right, but I think that’s just another acceleration of where we were moving anyway to that software-based view of the world, rather than a hardware view of the world.
Sometimes it turns out to be a lot easier to take risks in a crisis, because you’ll mobilize around that purpose, and some of the concerns that you have when you’re not in crisis drift away, and suddenly people become very empowered, very willing to take risks, and then you suddenly find you can move much faster, he says.
2. Use innovation to power short-term goals
A clear example is coming from Jamie Broadbent, head of digital and innovation at RBS International. He says on a ZDNet’s interview that the bank had to park its long-term strategic priorities at the outbreak of COVID-19 and instead move into crisis-management mode. That shift led to a shift away from traditional hierarchies and ways of working and towards letting people make decisions quickly.
On the COVID and post-COVID age, business executives might now be willing to acknowledge the power of digitalization and the adoption of innovative technologies such as big data, artificial intelligence, machine learning could computing or IoT, but organizations must be careful not to expect too much from tech-enabled change.
Nowadays, digital transformation is slightly overused as company slogan to close deals in many business sectors, but business leaders should look into their digital journey focus on innovation and digital mindset rather than just invest on technology . Now we are starting to make peace with the way that the funding cycle needs to work where you need to have a long-term vision, and then short-term goals or objectives that guide you towards that with the objective to deliver innovation-based solutions much faster on behalf of the consumer.
3. Embrace collaboration to put the customer first
On the post-pandemic age, you will have to reprioritize your value proposition, select the right skills, improve your message and had a very good relationships with your business users and stakeholders. For many experts, COVID-19 will become a filter for organizations to really focus on customers and that has to be a number-one priority. Collaborating with people or organizations who have complimentary attributes, being also a way to accelerate your growth, because the digital train is not stopping any time soon.
It is good to highlight that digital transformation roadmap was on many companies’ mind even before the COVID-19 pandemic, but it meant a million things to a million different people. What was clear that was that when the pandemic struck, digital transformation itself was digitally disrupted. we could see almost overnight areas that were exposed in terms of weakness, like remote work, e-commerce and so essentially, while everybody was scrambling, essentially the keywords were business continuity, I wanted to think productively about this moment in time and what it was going to mean thinking forward. Now it is time to think differently, and not just differently, but we really do have to think about people, stakeholders, customers, employees, partners, like never before. They have to be front and center of all of the decisions that we make and realize that this is all new. We are all the architects of the future right now and digital transformation vision and tools are keys to build the society of the future .
In future posts, we will be continue writing about technology and business trends for enterprises. Furthermore, we recommend consulting the following literature to continue your digital transformation journey:
- Designed for Digital: How to Architect Your Business for Sustained Success, MIT review
- The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives, by Simon & Schuster
- Artificial Intelligence: The Insights You Need, by Harvard Business Review
- The Year in Tech, 2021: The Insights You Need, by Harvard Business Review
- The Deep Learning Revolution, by MIT Press
- Competing in the Age of AI, by Harvard Review Press
The objective of this blog is to provide a personal vision of how digital transformation trends will be impacting in our daily activities, businesses and lifestyle.
Industry 4.0 and Smart-mobility expert, his research interest includes Industry 4.0, Smart-Maintenance, Process Optimization, Machine Learning, AI engineering and Cloud-based solutions.