Investments in AI by first movers are also setting the stage for another set of gains. Power users of AI with a strong digital base can boost profits by 1-5% above industry averages.
Shortcomings in organizational culture are one of the main barriers to company success in the digital age. Executives must be proactive in shaping and measuring culture, approaching it with the same rigor and discipline with which they tackle operational transformations.
The ‘over-used’ and ‘over sold’ Digital Transformation phenomenon has been the mainstay of all trends across all industries for at least the past decade and seems to be still on the rise with 70% of global enterprises, yet 84% of all attempts fail.
Perhaps the most popular misconception about the direction of a digital strategy is that it must be focused on technology.
Technology, in spite of its obvious significance, will always trail the needs of the consumer.
Customers of today enjoy unprecedented power to influence brands and demand a product and a service in the way they want, at the time they want and at the place they want…
A 2015 MIT/Deloitte study explained Digital Transformation as a Strategy not a Technology. It further suggested that maturing digital businesses leverage integrating social, mobile, analytics and cloud towards transforming how their businesses work. Less mature ones focus on solving discrete business problems with individual digital technologies.
Running a business in this complex digital world can be daunting. A fear of disruption. A constant investment in a new technology tool or another. Rethinking every strategy at regular intervals. Where did the days of snooze and cruise go? Seems like everything one learns has an expiry date. Sounds familiar? You are not alone in this.