Digital transformation of an organization is to increase an organization’s sale and its market reach by taking the benefits of technological advances in Artificial Intelligence, data sharing, analytics and cloud computing. As per Michael Gale of Forbes, only 28% of the big brands have successfully implemented digital transformation till yet.
Business transformation to the digital world is a technological concern, but the lack of AI isn’t the only reason for the failure of digital transformation. The major reason for this failure is a combination of technology, human resource and process.
Progressing with all three traits cumulatively can only bring success in digital transformation.
Digital transformation isn’t a new approach; it is the same old big data phenomenon. Today, everything is digital- software is replacing hardware; artificial intelligence is replacing physical products. From travelling to entertainment to shopping; everything has transformed online in the last 10 years.
To successfully remodel your business, the biggest challenge is to effectively blend people, process and technology in the new OS created.
In a discussion with The Inevitable, Kevin Kelly addresses resource assessment, content sharing and product distribution to be the major priorities of this operating system. Applying these priorities the organization’s policy shifts towards a customer-centric approach and data-driven decision making rather from the product-centric and self-driven approach.
The most important tools for this transformation are Artificial Intelligence and Cloud computing, but it isn’t as simple as installing software and start working with it. The other two traits- human resource and process are to be upgraded accordingly.
Kevin Kelly advises focusing on engagement which makes people the main target of the digital transformation project. Whom do you want to involve in this engagement: partners/ employees/ customers? Are your customers new or old? What is their preference? Knowing your target audience and whom to involve in the process makes transformation agile.
To overcome the failures in implementing digital transformation, it is important to be skilled in machine learning and data science.
To meet the increasing demand for analytics, data scientists are constantly building new high-end models which easily integrate into the operating system. On the other hand, regular models with simple features tend to decay much faster. Business organizations portray these pre-designed models as an add-on risk to their reputation and brand image.
Going by the IDC’s stats, only 35% of companies have reported these analytical models to have been 100% deployed in production. Out of those deployed, 90% of them require three months and 40% requires seven-plus months to deploy.
Digital transformation is no more a choice but a necessity! To successfully transform your organization one need to adapt themselves with the process rather than sticking to operational models.