In collaboration with Hewlett Packard Enterprise, Intel and Windows IT Pro magazine, I am honored to be presenting a webinar called “Embracing Digital Transformation” on Wednesday, October 12, 2016 at 1:00PM EST. In this session I will cover what digital transformation means, why now, where to begin and also share related industry trends. This event will be recorded for on-demand viewing.
Fourth Industrial Revolution
One of the organizations that I follow to get a glimpse into global human issues, business climate and future trends is The World Economic Forum. For several years now this group along with political and industry leaders has been analyzing the impact of digital technologies on business and society.
Like many changes in our lifetime, digital transformation is a blue ocean of opportunity to reinvent as I have shared in previous Industry Trends presentations. However, there are also significant risks to mitigate and navigate as disruptive business models evolve.
Yesterday U.S. News & World Report published an article “1 in 3 Workers Employed in Gig Economy, But Not All By Choice“. In it, surprising statistics from a McKinsey Global Institute report were shared. Our government statistics have been underestimating gig work in our labor market. (I am one of those gig workers and so are quite a few of my peers.) Although gig work can be an awesome experience, the world is not yet structured for unpredictable incomes and other nuances from a government policy perspective.
Sharing economy models such as UBER, AirBNB and crowdfunding groups are other examples of massive changes in digital market dynamics. Lowered barriers to entry to build a global scale business with widely available internet, mobile devices, and cloud apps combined with different digital experiences across new channels are making a impacts in customer experience (CX) already.
“We are at the beginning of a revolution that is fundamentally changing the way we live, work and relate to one another.”
– Professor Schwab, The World Economic Forum
The exponential growth of data, digitization and internet connectivity is the “backbone” of the Fourth Industrial Revolution. It has the potential to propel societies forward, enable innovative business models and help governments. Digitization doesn’t just enable what we do, it transforms it — not only business models, but also the policy and social norms.
Digital transformation, open borders and globalization will rock our world as we know it. The Fourth Industrial Revolution fueled by technology empowers radical re-imagination of business models. Most organizations begin with digitizing the customer journey and then extend to operations, products and services.
Customer Experience (CX) +
Business Optimization =
Today we are already seeing this happen in how we buy goods online from vendors like Amazon instead of going to Wal-Mart or Target. For customer support, chat bots are now used instead of issuing a help ticket. Look around you…it is already happening.
For More Information
If this topic interests you, tune into the “Embracing Digital Transformation” webinar to find out why the digital business is an imperative topic for industry leaders, executives, technology, analytics, data pros…and honestly everyone. In the future, I will dive deeper into digital transformation in regards to artificial intelligence, analytics and data integration innovation .
Fantastic resources that I studied in preparation for this session are noted below.
- The World Economic Forum Digital Economy
- Ray Wang’s book “Disrupting Digital Business: Create an Authentic Experience in the Peer-to-Peer Economy“
- Cognizant “A Framework for Digital Business Transformation” white paper
- CapGemini Digital Transformation Review
- New Reality SlideShare Digital Transformation 50 Sound Bites
- IBM Digital Transformation Executive Summary