Are you among the 70% who will fail at digital transformation?

The term ‘digital transformation’ is likely to win you a trophy at your next game of buzzword bingo. You are also in for a good chance if you set your sites on the cousins of digital transformation such as AI, APIs, Robotics, Data, IoT, Cloud, Cyber security and Chat bots. As much as we may grow tired of hearing about digital transformation and its close relatives, I am not sure that it’s time to remove these buzzwords from your LinkedIn profile just yet!

The waves of digital disruption continue to wash over industry, increasing the pressure on organisations to take the leap into the rough waters of digital transformation.

If I think back to the last 20 years of my career, every company that I have worked in has experienced some form of digital disruption and the impact has not been pleasant. Out of 5 of these companies (of which 4 were/are household names), 2 are no longer in business, 1 is in an extremely precarious position and the other 2, despite relentlessly investing in digital, continue to wrestle with the ongoing threat of disruptors and the ever growing demands of customers for better products and experiences.

In Deloitte’s Future of Work report, they highlight that if you look over the last 50 years of Fortune 500 companies, approximately 88% are now gone. 50 years ago, the…