The Role of Digital Transformation Specialists and Policy Makers
Digital Transformation, it seems is the next evolutionary step for any organization as they move from digitization (converting information from analog to digital) to digitalization (“process of employing digital technologies and information to transform business operations” [1]). Helping organizations to expand their capabilities, revamp their strategic and operational outlook, in addition to providing a vision for what the future might entail for them and their businesses. Digital transformation specialists look to how they can leverage existing and upcoming technologies to enable organizations to stay ahead or compete with new entrants who will be initiating these changes. We all have heard of the stories of Uber and Airbnb changing the way we commute and travel. Yet these are only the tip of the iceberg. There are even greater disruptions that are on the way. Organizations (public and private) need to start looking at how these disruptions will change their strategies, products, business models and overall the market they serve.
Disruption cycles are going to keep getting shorter and shorter, with organizations needing to ramp up their strategic planning and implementation timelines. In addition, the creation of a new role that allows for the management and oversight of this disruption is starting to become apparent in many organizations. Several top tier banks are starting to look for or promote “heads of digital transformation”[2]. Though there still looks to be a disconnect between digital transformation specialists and policymakers.
Policy makers themselves aren’t entirely sure of the impacts that a digital revolution might entail. Thus, a clearer focus on and engagement with technology-driven partners (as a consortium) is needed within our environment. There are programs such as the digital supercluster[3] which do provide government and private industries access to talent and technologies. Though that is only the start of what is required. Ray Dalio in his book “Principles”[4] points to an interesting notion that policymakers (generally) have a historical outlook when proposing policies. Yet a strategic outlook is almost missing in the policies that are being created. This raises an important question, whether policymakers should look to the future to help define and guide the next wave of regulations and policies coming our way?
This itself is a complex question since individuals from both sides of the argument would agree against or for it. If policymakers aren’t guiding the roadmap for technology, then who is? Do we leave it to the private industry to define and have policymakers adjust thereafter? Or is there a way we can combine predictions and historical information in the creation of regulations and policies? These are important questions that we need to ask ourselves, yet also pose such questions to policymakers and the politicians within our riding. It’s the civic engagement that will help to lead us towards identifying plausible answers to the above questions. So how can organizations leverage digital transformation specialists today?
Enabling change and allowing for internal disruption is probably the best way organizations (both public and private) can continue to thrive in today’s day and age, whilst working with digital transformation specialists. These specialists don’t have to be high paid consultants, organizations need only to look at a segment of a workforce that they already currently employ; Millennials. This group is defining the way we consume, work and operate within our society today[5]. Organizations can leverage the knowledge of this group to re-look at the way they do business. Of course, at the end of the day, nothing compares to the experience and know-how a specialist brings. Therefore, a cross-functional team of internal personnel combined with external experts seems to be an effective way to move forward. This would allow for internal personnel to be trained and promoted. Thereby ensuring effective knowledge transfer and retention. In addition, allowing for intimate knowledge of the organization to be combined with the digital and business expertise. Creating a cauldron of transformation that will thrust society towards a whole new paradigm, reaching an inflection point between policy and technological disruption.
[1] For further information on the difference between digitization, digitalization, and digital transformation — Jason Bloomberg does an excellent job at defining these terms in his article: Digitization, Digitalization, And Digital Transformation: Confuse Them At Your Peril., April. 29, 2018.
[2] The new skillset that barely exists but banks are desperate to hire by Sarah Butcher, March. 28, 2018
[4] Ray Dalio, Principles, (New York, Simon & Schuster, 2017), 84.
[5] For further reading on this topic, John Gappers, looks at the rise of millennials in his article How millennials became the world’s most powerful consumers, June. 5, 2018.