Digital Transformation:
The Definitive Guide (2021)
This is the first chapter of “Digital Transformation: The Definitive Guide (2021)”.
Every industry has its buzzwords, from gurus, wizards and ninjas to words like synergize, leverage and streamlining. At a certain moment, digital transformation could have been considered by sceptics as another buzzword to add to the list, but in case there was any doubt, the Covid-19 outbreak has driven companies to reshape their entire business models, with many launching digital initiatives in a very short time.
Now there is no doubt. Digital transformation is not a fad; it is an imperative for every industry.
Throughout history, new technologies have been disrupting established industry practices and replacing old ways of doing business with more advanced solutions and innovative technologies. Sooner or later, companies that failed to evolve have had to transform themselves in order to survive.
The digital transformation of businesses has been ongoing for decades. From minicomputers to PCs, the Internet, mobile and cloud services and the current of AI-driven computing. Yet the scale and speed at which digital transformation is required after this pandemic is unprecedented and will leave permanent change across all industries.
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There is still an ongoing digital revolution that can provide serious challenges to conventional businesses and unique opportunities to those prepared to adapt to new industry standards. This will see further acceleration post-Covid-19, or in any case when the reduction of lockdowns and restrictions will allow corporations to make decisions beyond the restraints of the current pandemic
The magnitude of change related to digital technologies is akin to the effects of new mechanizations, technological innovations and assembly line productions during the industrial revolution. What differs is the speed and urgency with which digitalization is affecting consumers, employees and organizations alike.
New digital technologies are more than capricious tweaks and process improvements. They fundamentally affect consumer behavior, customer experience, and organizations and are key in developing new products and services and finding new ways to target customers by better understanding their needs. Subsequently, this can alter existing industry structures and the competitive landscape to create new sources of revenue.
Over the years digital transformation has been widely addressed and studied. However, many executives are still struggling to find a go-to-reference to help them orientate new digital opportunities and transform their enterprises.
There are several reasons for this. Some managers are focused on obtaining workable solutions to concrete problems but not looking at the wider picture.
Covid-19 has changed this, by presenting a need for a solution that accelerates innovation.
At the center of this transformation there is a figure that plays a prominent role in leading enterprises into realizing this historical change: The Chief Information Officer (CIO) and the Office of the CIO (OCIO).
CIOs are expected to identify the right path for their business and drive change. This means that for some CIOs, digital transformation can be concerning. Conservative approaches to managing IT that will affect the entire organization are the result of CIOs being cautious to radical changes because of what is at stake if the wrong choice is made.
With the current pandemic accelerating the need for transformation, CIOs must develop the best IT strategy, organizational structure and deployments to stay ahead of the market. This document will serve as a guide to understanding digital transformation and to assist in adapting to the new post-Covid-19 market.
Originally published on the Artificial Solutions website on November 27th.
