What do you mean by Digital Transformation? Is it merely a play of Digital Marketing + Technology or Something else?
Well, if we just think about the word Digital Transformation, it rings a bell in us that it is some buzzword that's usually associated with implementing some state-of-art technology to make it look fancy. Well, we all have heard this term far too often these days. It's time to truly reflect on its true meaning and depth.
Digital Transformation is often associated with the following keywords in different contexts
- Technology
- Software
- Efficiency
- Productivity
- Innovation
- Emerging Technologies
- Artificial Intelligence
- Data Science
- Business Analytics
- IoT
- Industry 4.0
- Fintech
- SaaS
- EdTech
- Consumer Tech
- Enterprise
- Blockchain
- Robotic Process Automation
- Cost Reduction
- Automation
Digital Transformation could mean using any of the above-mentioned keywords to meaningfully apply in a firm to improve efficiency in running the business.
Can we use Type-writers to design AI?
It sounds foolish and insane, isn't it? That is exactly how digital transformation is being advocated by most people. If we do not know the context of the organization, it is certainly a risk to any digital transformation. In many cases, the aspiration of wanting to improve productivity works counterproductive due to the way things are for that particular organization. An organization is built by people and people form an essential component in thinking of any transformative plans.
Ultimately, the purpose of any digital transformation exercise is to improve efficiency, productivity, cut costs, and improve revenues. These are business goals for any organization, but there is a catch !! Using Technology Play meaningfully to business advantage is a fairly challenging game. It needs leadership level thought leadership and not just awareness of technology trends. This is where the game gets all the more interesting.
Digital Transformation is a thought Leadership exercise in an organization that meaningfully applies technology to business processes and verticals and products to increase the overall productivity of the organization.
