Digital Transformation is one of the hottest topics of discussion in C-Suites around the world – and with good reason. Executives are facing the rising expectations of the connected consumer; the revolutionary potential of such emerging technologies as the Internet of Things, Blockchain, Artificial Intelligence, and 3D Printing; and continued pressure from competitors and the market – simultaneously!
The world will change more in the next ten years than it has in the past fifty. Digital Transformation is a logical strategic response to these challenges and opportunities. But, there is much misunderstanding as to what Digital Transformation actually is.
Perhaps the most widely held misconception about Digital Transformation is that Digital Transformation is the use of digital technologies to connect the people and systems within the organization to one another and to the appropriate people and systems outside the organization. This is a worthy goal, and one with great benefits for the organizations and their people.
But, it’s not Digital Transformation.
Digital Transformation is a fundamental rethinking of the underlying business model –within the organization and in the broader business ecosystems of which it is a part. To achieve true Digital Transformation, you must first understand the real value proposition. It’s not just about implementing the technology. It’s about rethinking the business model to provide customers a consistently great experience and outstanding value.
One of the best examples of Digital Transformation is the way in which Steve Jobs and Apple transformed the music industry over the past decade. The old record stores and the distribution systems which supplied them were supplanted by iTunes and the Internet. Traditional audio playback devices such as turntables and CD players were replaced by internet enabled mobile devices.
The opportunity for you and your organization is to apply the same concepts to digitally transforming your business and industry. But, you can’t achieve Digital Transformation by starting with today’s business model and making incremental changes to it. You can’t get there from here.
In his presentation, Digital Strategist, Technology Futurist, author, and consultant Jack Shaw will lay out a scenario for a digitally transformed ecosystem in your industry and describe the enabling emerging technologies. Then he’ll discuss the steps your business can take to successfully plan for and implement your Digital Transformation.