We can all acknowledge that the same technologies that are driving digital transformation within organizations are also rapidly transforming work as we know it. Much has been written in the mainstream media about the impact of the cloud, big data analytics, artificial intelligence and robotics on the future job market. But the story isn’t all doom and gloom. In a recent IDC survey, almost half of U.S. organizations surveyed (47%) thought that AI and robotics will have a positive impact on their organization’s jobs in the next 3 years.
Somewhere along the way of the marketing campaigns and the market hype, the industry has forgotten why we are digitally transforming and what it means. If we rewind, traditional organizations are being disrupted by digital startups; they are seeking ways to innovate more rapidly, be customer-centric, harness data to generate insights at scale, and ultimately transform their operations to compete in the digital economy.
Are you ready to compete in the digital economy? Has your organization strategized and actively pursuing DX technology initiatives? Or is your organization just starting to figure out what it means to be digitally transformed? If you are just starting, you better quicken your pace, because IDC believes by 2020, 60% of all enterprises will have fully articulated an organization-wide digital platform strategy and will be in the process of implementing it.
This past Spring, I spoke with numerous digital leaders who are feeling distraught. They know what needs to be done but feel a lack of empowerment. Either their CEO is not making the difficult organizational moves, or their organization has multiple strategies, or their investors are taking a short-term view when it comes to funding decisions. These are some of the challenges they feel they cannot overcome on their own.
While today’s business environment is already digitally-powered, new technology advances are poised to deliver a radically new system of commerce. In fact, IDC predicts that by 2020, 50% of the Global 2000 will see much of their business depend on their ability to create digitally-enhanced products, services, and experiences. This expansion of Digital Transformation (DX) at a global scale signals a new digital economy.