What we have learned helping business implement ‘exponential technologies’
One of the realisations we have had over the last four years building emerging technology solutions for business, is that we could never truly enable our clients to successfully apply these solutions if we didn’t also focus attention on supporting the organisation (and the senior leadership team) on its digital transformation journey.
When we build an ‘exponential technology’ solution for a client, what we want is for them to achieve exponential not incremental growth. But this cannot be achieved if at the same time we don’t also look at fostering an “exponential mindset”(more on this topic below).
Our experience building emerging tech solutions has shown us that although all of our clients are committed and passionate about deploying emerging technology solutions to digitize their core offering and / or create new digital offerings. For many, after implementing a highly successful pilot or proof of concept, they are often left unsure of steps to take to “scale up” the solution for company wide rollout and to achieve maximum impact. The end result? Valuable time lost in achieving impact and maintaining competitive distance.
As a consequence over the last year we have focussed more resources and attention on not just building emerging technology solutions with our clients, but also on working collaboratively with them to help support and guide their organisational wide digital transformation journey as it applies to implementing emerging technology solutions.
Currently we support our clients on their Digital Transformation Journey through two key ways.
- Be “Listening Posts” : At Snobal we help clients identify the most relevant and applicable application of emerging technology in the business. What we are aiming to do here is find an application —a Beacon Project — for emerging technology that will have the greatest impact, highest ROI with the less risk for the organisation. Success from such a project will inform and act as a driver for a wider company roll-out.
This also involves acting as our clients partners or “listening posts” on emerging tech so as to advise on the most promising solutions and applications. (You can read more about what a “listening post” is in this McKinsey & Co article on construction technology). We know that not having access to trusted emerging technology skills is one of the biggest challenges for our clients so acting as their partner to help guide them on the journey is a crucial ingredient to success.
- Be Agile: We develop solutions in a highly agile and iterative way in collaboration with our clients. This means we need to build our emerging technology solutions with our clients not for them. This also enables our clients to raise the organisation and individual team members knowledge and understand of emerging technology in the process and therefore facilitate them to build the best solution there is that will help set the organisation up for success.
The exciting news is that in 2019 we will extending and formalising our Emerging Tech Digital Transformation Journey support. We believe this will best set our clients and their businesses up for success. Watch this space over the coming months for more information on how this will look. We’re really excited about this offering and the impact we can create in helping business leverage emerging technologies! (Or if you’d like to be kept informed email us here asking to be kept in the loop).
What’s your “mental model”?
Back to exponential growth.
We know that new technologies such as virtual reality, artificial intelligence and ioT are transforming all stages of the engineering and construction process. They are technologies that can be leveraged to achieve exponential growth for an organisation.
Mark Bonchek is founder & chief epiphany officer of Shift Thinking, an organisation seeking to update leaders’ “mental models for a digital age”. In Bonchek’s Singularity University webinar, he looks at how organisations need to be aware of the fact there are two paths to innovation — incremental and exponential. And any exponential growth requires adopting “an exponential mindset”.
Bonchek asks organisations to ask themselves what is their “business model and what is their “mental model”?
For eg Zappo sells shoes but as you can hear from this podcast with its founder Tony Hsieh, the mental model of the company is “a customer service company…that happens to sell shoes”.
As your “mental model” is one of your core competitor differentiators it is worth asking what is your organisations “mental model”?
Mind the gap — and its impact
Boncheck also explores what it takes to drive exponential change in organisations and how with incremental growth there is a visual on the goal but with exponential growth there is an accelerating rate of change and therefore you can’t often see the goal.
This can be a very uncomfortable place for organisations.
With exponential projects there is invariably a “slow start” (returns) which are often far behind the incremental project. At this stage what often happens in organisations is the incremental thinkers in the organisation can step in and get the resources re-allocated to incremental projects.
The end result? Incremental not exponential growth for the business.
You can listen to the full webinar here.
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Until next time.